Trustar Bank in Great Falls, Va., has agreed to buy branches in Maryland from Forbright Bank.
Trustar said in a press release that it will buy locations in Potomac and North Bethesda, along with a customer service hub in McLean, Va. The deal includes $750 million in deposits at a $19 million deposit premium.
The acquisition, which is expected to close in the fourth quarter, should be accretive to Trustar’s 2027 earnings.
“This is a unique, strategically-aligned opportunity to strengthen Trustar Bank’s presence in our core markets, and add valuable deposits and relationships, positioning Trustar for growth,” Shaza Andersen, the bank’s CEO, said in the release. “This transaction will efficiently add scale to our franchise and create long-term value for our shareholders.”
Troutman Pepper Locke and RP Financial advised Trustar.