Forbright Bank 2023 Year in Review

Forbright Bank, a nationwide full-service bank and lender helping accelerate the transition to a sustainable and low-carbon economy, experienced a successful 2023 due to strong credit performance, new online and in-person deposit platforms, continued focus on serving our customers through sustainable and responsible business practices, and an ongoing commitment by the Bank's Board and management team to operate in a safe and sound manner.

"Our vision of building a world-class bank aligned around sustainability made important strides last year, and we enter 2024 well positioned to execute against our strategic plan and mission," said John Delaney, Founder and Chairman and Don Cole, Chief Executive Officer of Forbright Bank.

Strong Financial Positioning: Forbright Bank generated strong earnings for 2023 of approximately $76 million, a year end tier 1 leverage ratio of 11.47%, 31% of assets (or $2.1 billion) in cash and short term treasury and agency debt at year end and 88% of deposits insured by the FDIC. The Bank led or participated in more than 120 deals across its Healthcare, Lender Finance, Corporate Finance, FHA/HUD, Real Estate Finance, CPACE, and Community Lending business groups.

Awards and National Recognition: Forbright Bank earned national recognition for its commitment to sustainability and unique workplace. American Banker and the Washington Post independently named Forbright Bank as a top place to work. In addition, Forbright earned Fossil-Free Certification and became Green Business Certified ? two designations reflecting the quality of the Bank's high environmental standards and focus on sustainability. Independent reports from Business Insider and GoBankingRates positively reviewed Forbright's competitive deposit rates and mission-driven approach. Additionally, Forbright Bank was the first bank to receive BestCashCow's Sustainable Bank Badge due to its commitment to financing clean energy and sustainable projects.

Strong Progress in Market Leading Middle Market and Specialty Lending Franchisees: Forbright Bank's Healthcare, Lender Finance, Commercial Real Estate, and Corporate Finance business units all posted strong years and made investments in new team members and expanded capabilities. The middle market, which is the growth engine of the U.S. economy, has been historically underserved by banks because it requires highly customized lending solutions. Forbright Bank is committed to building out these businesses further across 2024.

A Growing Portfolio of Fee Businesses: Forbright now benefits from three attractive fee businesses - Alliance Partners, which provides advisory services to nearly 400 community banks through BancAlliance; Energy Loan Network, which helps lenders originate residential solar loans through a growing network of contractors and facilitated nearly 4,000 loans for over $150 million last year; and its partnership with the FHA/HUD, which offers attractive financing for healthcare, seniors housing, and multifamily projects and expanded in 2023.

Focus on Sustainable Lending: Forbright Bank is proud to have played a role in building a more sustainable economy by financing critical investments in renewable energy, green building upgrades, affordable housing, and accessible healthcare. Last year, Forbright financing helped Divert, Inc. convert wasted food into clean energy; the Bank's financing for Infigen Renewables began helping Puerto Rico transition to 100% renewable energy; and the Bank's Housing and Urban Development lending platform helped create more affordable housing. Forbright Bank is proud to have sponsored the Sustainable Investment Forum during Climate Week in New York City where Forbright leaders spoke about the urgent need to invest in decarbonization.

New Online Deposit Platforms and In-Person Locations: In 2023, the Bank launched a new platform for customers to open online high-yield Certificates of Deposit (CD) and announced several new in-person Service Hubs as tens of thousands of new customers opened accounts with the Bank. Forbright Bank's online CD helps Americans earn more thanks to its competitive rate and allows consumers to put their money to work in a mission-aligned bank.

Impactful Community Programs: Giving back to the community is in the fabric of Forbright Bank. Last year, the Bank donated a record $1 million to philanthropic partners, launched a new benefit to give every employee 24 paid volunteer hours annually, and participated in Volunteer Month in October. Employees supported numerous volunteer activities throughout the year, including through partnerships with Casey Trees, Potomac Riverkeepers Network, American Red Cross, Friends of the Urban Forest, and Junior Achievement. Forbright also hosted its inaugural Sustainable Solutions Summit to help high school students develop business plans to solve local environmental issues. Forbright employees volunteered at more than 70 nonprofits with nearly 65% of all Forbright employees participating.

Sustainable Bank Operations: The Bank's commitment to sustainability extends beyond its financing and runs throughout its operations and employee benefits. This includes the integration of environmental stewardship within everyday business operations and infusing a multi-stakeholder mindset through thoughtful vendor selection and employee engagement. Employees continued to receive bonuses for purchasing solar panels, electric vehicles, and biking to work, in addition to benefiting from reimbursement for sustainable subscriptions like compost programs and Imperfect Foods.

Forward Looking Statements: This news release contains estimates and forward-looking statements related to Forbright's earnings, leverage ratio, and new initiatives. The estimates and forward-looking statements involve risks and uncertainties and do not guarantee future performance, as actual results or developments may be substantially different from the expectations described in the forward looking statements.

About Forbright Bank: Forbright Bank (www.forbrightbank.com), Member FDIC, Equal Housing Lender, is a full-service bank and lender taking action to decarbonize the economy. Headquartered in Chevy Chase, Maryland, Forbright is committed to accelerating the transition to a sustainable, clean energy economy by financing the companies, investors, and innovators driving that change.