Forbright, Inc. Reports Q3 Earnings with EPS Beat and Revenue Miss
Forbright, Inc. (FRBT) reported third-quarter financial results characterized by a beat on earnings per share but a slight miss on top-line revenue. The company posted GAAP EPS of $0.41, exceeding analyst expectations by $0.09, while revenue reached $89.06 million, falling short of estimates by $1.37 million. Operational metrics showed significant growth in the loan portfolio and deposit base. Loan balances increased 9.5% quarter-over-quarter and 24% year-over-year. Additionally, digital deposits saw a substantial increase of $1 billion during the quarter, driven by promotional activities. The company also reported improved credit quality, with core net charge-offs declining to 3 basis points.
Tickers: $FRBT
Topics: deposit growth earnings beat loan growth net charge-offs revenue miss