SEC 8-K filings with transcript text
Jul 29, 2026
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EdgarFiling
Beacon Financial Corporation Announces Second Quarter Results
Net Income of $64.4 million, EPS of $0.77
Quarterly Dividend of $0.3225
BOSTON, July 29, 2026 (GLOBE NEWSWIRE) -- Beacon Financial Corporation (NYSE: BBT) (the “Company”) today announced net income of $64.4 million, or $0.77 per basic and diluted share, for the second quarter of 2026, compared to $46.2 million, or $0.55 per basic and diluted share, for the first quarter of 2026, and $22.0 million, or $0.25 per basic and diluted share, for the second quarter of 2025.
“Our results this quarter demonstrate improved operating momentum, disciplined execution, and continued progress following our merger integration,” said Paul Perrault, the Company’s President and Chief Executive Officer.
“We grew total assets, deposits and non-interest income modestly, expanded the net interest margin, and reduced expenses, while maintaining our focus on credit discipline and long-term value creation for our stockholders. While competition is intense and the external environment remains unsettled, we are well positioned to build on this progress in the quarters ahead.”
The Company’s merger of equals (the “Merger”) with Brookline Bancorp, Inc. (“Brookline”) was accounted for as a reverse acquisition using the acquisition method of accounting, with the Company treated as the legal acquirer and Brookline treated as the accounting acquirer for financial reporting purposes. The Company’s financial results for the period ended June 30, 2025 reflect Brookline’s results only on a standalone basis. As a result, the Company’s financial results for the second quarter of 2026 may not be directly comparable to prior reported periods.
Total assets increased $23.3 million during the quarter to $22.3 billion at June 30, 2026. Total assets increased $10.7 billion from June 30, 2025, primarily due to the assets assumed in the Merger.
Total loans and leases decreased $101.9 million to $17.8 billion at June 30, 2026 from March 31, 2026, primarily due to a decline in commercial real estate and equipment financing loans, partially offset by an increase in commercial and consumer loans, and increased $8.2 billion from June 30, 2025, primarily due to the loans and leases assumed in the Merger.
Total investment securities at June 30, 2026 increased $42.6 million to $1.8 billion from March 31, 2026, and increased $894.6 million from June 30, 2025, primarily due to investment securities assumed in the Merger.
Total cash and cash equivalents at June 30, 2026 increased $103.2 million to $1.2 billion from March 31, 2026, and increased $709.4 million from June 30, 2025, primarily due to cash and equivalents assumed in the Merger.
Total deposits as of June 30, 2026 increased $193.6 million from March 31, 2026, consisting of a $92.8 million increase in customer deposits and a $102.5 million increase in brokered deposits while payroll deposits remained flat. Total deposits increased $9.5 billion from June 30, 2025, primarily due to the deposits assumed in the Merger.
Total borrowed funds at June 30, 2026 decreased $183.9 million from March 31, 2026, and decreased $266.5 million from June 30, 2025.
The ratio of stockholders’ equity to total assets was 11.41 percent at June 30, 2026, compared to 11.27 percent at March 31, 2026, and 10.84 percent at June 30, 2025. The ratio of tangible stockholders’ equity to tangible assets (non-GAAP) was 9.25 percent at June 30, 2026, compared to 9.07 percent at March 31, 2026, and 8.82 percent at June 30, 2025. Tangible book value per common share (non-GAAP) increased $0.50 from $23.48 at March 31, 2026 to $23.98 at June 30, 2026, and increased $12.78 from $11.20 at June 30, 2025.
Net interest income increased $2.4 million to $193.2 million during the second quarter of 2026 from $190.8 million for the quarter ended March 31, 2026. The net interest margin increased 3 basis points to 3.81 percent for the three months ended June 30, 2026 from 3.78 percent for the three months ended March 31, 2026, primarily driven by a higher yield on loans and leases and lower funding costs offset by lower interest income as a result of a decline in average loan balances.
Total non-interest income for the quarter ended June 30, 2026 increased $2.0 million to $26.0 million from $23.9 million for the quarter ended March 31, 2026. The increase was primarily driven by increases of $1.2 million in gain on sales of loans and leases, $0.6 million in loan level derivative income, net, and $0.4 million in wealth management fees, partially offset by a $0.6 million decline in bank-owned life insurance (BOLI) income.
The Company recorded a provision for credit losses of $5.0 million for the quarter ended June 30, 2026, compared to $7.9 million for the quarter ended March 31, 2026. The decline in p
Apr 29, 2026
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EdgarFiling
Beacon Financial Corporation Announces First Quarter Results
Net Income of $46.2 million, EPS of $0.55
Operating Earnings of $58.4 million, Operating EPS of $0.70
Quarterly Dividend of $0.3225
Board Authorized $50 million Stock Buyback Program
BOSTON, April 29, 2026 (GLOBE NEWSWIRE) -- Beacon Financial Corporation (NYSE: BBT) (the “Company”) today announced net income of $46.2 million, or $0.55 per basic and diluted share, for the first quarter of 2026, compared to $53.4 million, or $0.64 per basic and diluted share, for the fourth quarter of 2025, and $19.1 million, or $0.21 per basic and diluted share, for the first quarter of 2025.
"The first quarter results reflect near-term pressures and the tail end of merger activity as we completed the core system conversion in February," stated Paul Perrault, the Company’s President and Chief Executive Officer.
"We remain focused on capturing the full synergies of our merger and executing a strategy that positions the bank for long-term success. We anticipate those actions will translate into stronger financial performance and more robust results as we move through the year.”
The Company’s merger of equals (the “Merger”) with Brookline Bancorp, Inc. (“Brookline”) was accounted for as a reverse acquisition using the acquisition method of accounting, with the Company treated as the legal acquirer and Brookline treated as the accounting acquirer for financial reporting purposes. The Company’s financial results for any periods ended on or prior to June 30, 2025 reflect Brookline’s results only on a standalone basis. As a result, the Company’s financial results for the first quarter of 2026 may not be directly comparable to prior reported periods.
Total assets at March 31, 2026 decreased $1.0 billion to $22.2 billion from $23.2 billion at December 31, 2025, primarily driven by the reduction in cash balances due to timing fluctuations in payroll deposits. Total assets increased $10.7 billion from March 31, 2025, primarily due to the assets assumed in the Merger.
Total loans and leases decreased $105.4 million to $17.9 billion at March 31, 2026 from December 31, 2025, primarily due to a further reduction in commercial real estate and consumer loans, partially offset by increases in commercial loans, and increased $8.3 billion from March 31, 2025, primarily due to the loans and leases assumed in the Merger.
Total investment securities at March 31, 2026 increased $29.9 million to $1.7 billion from December 31, 2025 and increased $836.4 million from March 31, 2025, primarily due to investment securities assumed in the Merger.
Total cash and cash equivalents at March 31, 2026 decreased $928.8 million to $1.1 billion from December 31, 2025, primarily driven by the fluctuation within payroll deposits, and increased $755.4 million from March 31, 2025, primarily due to cash and equivalents assumed in the Merger.
Total deposits as of March 31, 2026 decreased $1.2 billion from December 31, 2025, consisting of a $264.7 million decrease in customer deposits, a $676.2 million decrease in payroll deposits, and a $281.5 million decrease in brokered deposits. The decline in customer deposits was driven largely by seasonal first quarter factors such as tax payments, with additional movement concentrated in a small number of rate‑sensitive, higher‑cost accounts. Core consumer and relationship-based deposits remain stable. Total deposits increased $9.4 billion from March 31, 2025, primarily due to the deposits assumed in the Merger.
Total borrowed funds at March 31, 2026 increased $284.1 million from December 31, 2025, and decreased $83.3 million from March 31, 2025.
The ratio of stockholders’ equity to total assets was 11.27 percent at March 31, 2026, compared to 10.75 percent at December 31, 2025, and 10.77 percent at March 31, 2025. The ratio of tangible stockholders’ equity to tangible assets (non-GAAP) was 9.07 percent at March 31, 2026, compared to 8.62 percent at December 31, 2025, and 8.73 percent at March 31, 2025. Tangible book value per common share (non-GAAP) increased $0.16 from $23.32 at December 31, 2025 to $23.48 at March 31, 2026, and increased $12.45 from $11.03 at March 31, 2025.
Net interest income decreased $8.9 million to $190.8 million during the first quarter of 2026 from $199.7 million for the quarter ended December 31, 2025. The net interest margin decreased 4 basis points to 3.78 percent for the three months ended March 31, 2026 from 3.82 percent for the three months ended December 31, 2025, primarily driven by lower yield on loans and leases and a reduction of interest earning assets, partially offset by lower funding costs.
Total non-interest income for the quarter ended March 31, 2026 decreased $2.0 million to $23.9 million from $25.9 million for the quarter ended December 31, 2025. The
Jan 28, 2026
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EdgarFiling
Beacon Financial Corporation Announces Fourth Quarter Results
Net Income of $53.4 million, EPS of $0.64 Operating Earnings (Non-GAAP) of $66.4 million, Operating EPS (Non-GAAP) of $0.79 BOSTON, Jan. 28, 2026 (GLOBE NEWSWIRE) -- Beacon Financial Corporation (NYSE: BBT) (the “Company”) today announced net income of $53.4 million, or $0.64 per basic and diluted share, for the fourth quarter of 2025.
For the year ended December 31, 2025, the Company reported net income of $90.3 million, or $1.03 per basic and diluted share. For the year ended December 31, 2025, excluding $70.1 million of merger-related charges, operating earnings after tax (non-GAAP) was $142.3 million, or $1.63 per basic share and $1.62 per diluted share.
“We’re beginning to build momentum as we closed 2025 with the strength of the combined Beacon organization and ongoing synergies created by our merger of equals,” commented Paul Perrault, the Company's President and Chief Executive Officer. “I’m proud of the hard work and dedication of our colleagues who provide exceptional service to support our clients and are working to drive meaningful performance improvements across the organization. Their leadership, resilience, and collaboration are integral to our ability to deliver an enhanced experience for those we serve while building the foundation for long-term success.”
The Company’s merger of equals (the “Merger”) with Brookline Bancorp, Inc. (“Brookline”) was accounted for as a reverse acquisition using the acquisition method of accounting, with the Company treated as the legal acquirer and Brookline treated as the accounting acquirer for financial reporting purposes. The Company’s financial results for any periods ended on or prior to June 30, 2025 reflect Brookline’s results only on a standalone basis. As a result, the Company’s financial results for the fourth quarter of 2025 may not be directly comparable to prior reported periods.
Total assets at December 31, 2025 increased $352.9 million to $23.2 billion from $22.9 billion at September 30, 2025, and increased $11.3 billion from $11.9 billion at December 31, 2024, primarily due to the assets assumed in the Merger.
At December 31, 2025, total loans and leases were $18.0 billion, representing a decrease of $275.8 million from September 30, 2025, driven by a decline in investment commercial real estate loans of $235.5 million and increased $8.3 billion from December 31, 2024, primarily due to the loans and leases assumed in the Merger.
Total investment securities at December 31, 2025 decreased $50.7 million to $1.69 billion from $1.74 billion at September 30, 2025 due to scheduled repayments and limited purchases during the fourth quarter, and increased $793.7 million from $895.0 million at December 31, 2024 primarily due to investment securities assumed in the Merger, partially offset by the sale of $176.4 million of the legacy Berkshire Hills Bancorp, Inc.'s investment portfolio during the third quarter. Total cash and cash equivalents at December 31, 2025 increased $821.1 million to $2.0 billion from $1.2 billion at September 30, 2025 primarily due to an increase in payroll deposits, and increased $1.5 billion from $543.7 million at December 31, 2024, primarily due to cash and equivalents assumed in the Merger. As of December 31, 2025, total investment securities and total cash and cash equivalents represented 16.07 percent of total assets, compared to 12.94 percent and 12.08 percent as of September 30, 2025 and December 31, 2024, respectively.
Total deposits at December 31, 2025 increased $610.6 million to $19.5 billion from $18.9 billion at September 30, 2025, consisting of a $260.5 million increase in customer deposits and a $845.6 million increase in payroll deposits, partially offset by a $495.5 million decrease in brokered deposits. Total deposits increased $10.6 billion from $8.9 billion at December 31, 2024, primarily due to the deposits assumed in the Merger.
Total borrowed funds at December 31, 2025 decreased $292.2 million to $788.4 million from September 30, 2025, and decreased $731.5 million from $1.5 billion at December 31, 2024 as combined liquidity as a result of the Merger and the increase in deposits allowed for reduction in borrowings.
The ratio of stockholders’ equity to total assets was 10.75 percent at December 31, 2025, compared to 10.76 percent at September 30, 2025, and 10.26 percent at December 31, 2024. The ratio of tangible stockholders’ equity to tangible assets (non-GAAP) was 8.62 percent at December 31, 2025, compared to 8.56 percent at September 30, 2025, and 8.27 percent at December 31, 2024. Tangible book value per common share (non-GAAP) increased $0.57 from $22.75 at September 30, 2025 to $23.32 at December 31, 2025, and increased $12.51 from $10.81 at December 31, 2024.
Net interest income increased $70.
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