Forbright Bank To Sell Its Washington, D.C.-Area Legacy Branches And ~$750M In Local Deposits To Trustar Bank For A Deposit Premium Of ~$19M
The Company expects the Transaction to be accretive to 2027 earnings.Shaza Andersen, Chief Executive Officer of Trustar Bank, stated, "We are very pleased to enter into this Agreement with Forbright Bank. I have
Forbright Bank is selling some of its branches and customer accounts in Washington, D.C. to another bank called Trustar Bank. Forbright expects this deal to help make their profits bigger in a couple years, which suggests they think this move is good for their business.
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Source: Benzinga · Read the original report at the publisher. Headline and figures shown for context; data may be delayed.
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