Forbright Bank Sells Branches to Go Fully Digital

Forbright Bank, a Washington-area lender, is moving away from the traditional branch model as digital deposits become central to its growth strategy. The bank launched its online deposit platform in 2022, seeking to reach customers beyond its local footprint and gather funding without relying on physical locations. The shift underscores how smaller U.S. banks are using digital channels to broaden their customer base and reduce the costs associated with branch networks.

Forbright said it will sell its physical branches to Trustar Bankshares and focus fully on digital banking after the transaction. Since the online platform debuted in 2022, the bank has attracted more than 100,000 customers and amassed $4.3 billion in deposits. That growth prompted Forbright to divest its conventional outlets and direct more resources toward online customer acquisition and deposit expansion, effectively severing its remaining ties to a branch-based banking model.