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June 11 (Reuters) - Forbright, ‌founded by former U.S. Representative John Delaney, secured a valuation of $870 million after its shares fell 2.8% in their Nasdaq debut on Thursday.

Chevy Chase, Maryland-based Forbright shares opened at $17.50 apiece, below the offer price of $18. It raised $142 million in the IPO by selling 7.9 million shares at the low end of the marketed range of $18 to $20 each.

U.S. bank IPOs have made a comeback over the past 12 months, after surmounting the regional banking crisis of 2023, as a rebound in stock prices encourages boardrooms to tap public markets.

Forbright traces its history to Congressional Bank, which was ​established in 2003 as a community bank serving the Washington D.C. area.

Its platform ​spans middle-market lending, digital consumer banking, strategic advisory and asset management services.