Beacon Financial

BBT · NYSE · Financials · Financials, fiscal 2016 to 2025

BBT · Last close · November 6, 2026

$30.60

Beacon Financial's revenue rose 38.2% to $553 million in fiscal 2025. Net income was $90 million, up 31.4%. Its return on equity was 4.9%, down from 5.7% a year earlier. Its efficiency ratio was 70.5%, up from 60.5% a year earlier. It paid out $63 million in dividends and buybacks. The diluted share count fell 1.8%.

Beacon Financial Corp Latest fiscal year ended December 31, 2025 10-K filed March 2, 2026 · 0001628280-26-013247 Updated November 3, 2026

Revenue

$553M

38.2%

Net income

$90M

31.4%

Return on equity

4.9%

0.8 pts

Return on tangible equity

6.2%

1.0 pts

Efficiency ratio

70.5%

10.0 pts

Market cap

$2.6B

Nov 6 close

P/E

16.0x

On $1.91 EPS, 4 qtrs

Return on equity is net income as a share of shareholders' equity; return on tangible equity leaves out goodwill and other intangible assets. The efficiency ratio is operating costs as a share of revenue, so lower means the bank spends less to earn each dollar. Market cap is the last closing share price times the latest diluted share count, so it is approximate. P/E is the last close divided by diluted earnings per share over the last four quarters, or the latest fiscal year where the quarters aren't available; there is none when the company made a loss.

About these figures. Share counts and per-share figures for earlier years are restated for a stock split (2-for-1), so every year is on today's share basis.

Charts show fiscal years, from the 10-K filings.

What Beacon Financial does

Beacon Financial is a bank holding company based in Boston. Its main subsidiary, Beacon Bank & Trust, has 147 banking offices across New England and New York. It offers business and retail banking, including cash management, foreign exchange services, online and mobile banking, and consumer and residential loans.

Its wealth management arm, Clarendon Private, is a registered investment advisor. Together with the bank's Trust and Investments Division, it serves individuals, families, endowments and foundations. The bank also runs a commercial payment processing business for payroll service companies, whose deposits can swing by hundreds of millions of dollars as payroll cycles pass.

On September 1, 2025, the company completed a merger of equals with Brookline Bancorp, changing its name from Berkshire Hills Bancorp and its ticker from BHLB to BBT. The merger roughly doubled the business: loans and leases reached $18.0 billion at the end of 2025. For accounting purposes, Brookline was treated as the acquirer, so the filing's history is Brookline's.

Its biggest risks, as it describes them

Changes in interest rates that could hurt its results.
Loan losses, especially from its commercial real estate and commercial loans and leases, which it calls riskier than other loans.
Losing deposits or relying on costlier wholesale funding to replace them.
Weak economic conditions in New England and New York, where it operates.
Competition from other financial firms and the cost of new technology.

From Beacon Financial's annual report on Form 10-K, filed March 2, 2026, in our words; the 10-K has the full description and every risk factor. Updated with each new annual report.

Income statement

Revenue and net income

US$ billions, fiscal years; net losses in red. Revenue on the left axis, net income on the right; zero is the same line on both. Revenue is net of interest expense.

Revenue (left axis)Net income (right axis)

Efficiency ratio and net interest income

Percent of revenue. The efficiency ratio is noninterest expense over revenue.

Efficiency ratioNet interest income share

From fiscal 2016 to 2025, earnings per share grew 1.0% a year and net income 4.9% a year, as new shares raised the share count by 41% and diluted each share's earnings.

Diluted earnings per share

US$ per share, fiscal years, restated for any stock splits; loss years in red.

Return on equity

Percent. Net income over average equity; tangible equity excludes goodwill, intangibles and preferred stock.

Return on equityReturn on tangible common equity

Balance sheet

Loans and deposits

US$ billions, at each fiscal year end

Loans, netDeposits

Total assets and shareholders' equity

US$ billions, at each fiscal year end. Assets on the left axis, equity on the right.

Total assets (left axis)Equity (right axis)

Five years at a glance

Fiscal year end	FY21	FY22	FY23	FY24	FY25
Loans, net	6,720	8,239	8,934	9,654	17,777
Deposits	10,069	10,327	10,633	8,902	19,515
Loans to deposits	66.7%	79.8%	84.0%	108.5%	91.1%
Provision for credit losses	−0	11	38	22	41
Provision to average loans	−0.0%	0.1%	0.4%	0.2%	0.3%
Total assets	11,555	11,663	12,431	11,905	23,220
Shareholders' equity	1,182	992	1,199	1,222	2,496

US$ millions unless stated, at each fiscal year end.

Cash flow

Stock-based compensation and buybacks

US$ billions, fiscal years. Shares paid to employees (stock-based compensation, a cost that uses no cash) against cash spent buying shares back. Buybacks that only match it leave the share count roughly where it was.

Stock-based compensationShare buybacks

Dividends and buybacks

US$ billions, cash paid in each fiscal year

DividendsShare buybacks

Diluted share count

Weighted-average diluted shares, millions

Projections

Project Beacon Financial's revenue, net income and earnings per share five years ahead in a bull, a base and a bear case with your own figures, and see the share prices your P/E estimates give them. Every projected figure is yours: it is not a forecast of ours.

Open Beacon Financial's projections

Insider trades

Over the 12 months between November 7, 2025 and November 6, 2026, 1 insider bought $6,146 of Beacon Financial shares on the open market, and 1 insider sold $538,016.

Buys and sells by month

US$ millions, open-market purchases (up) and sales (down) by officers, directors and 10% owners in each month.

BoughtSold

Date	Insider	Trade	Shares	Price	Value	Filing
Oct 29, 2026	William H Hughes IIIDirector	Bought	200	$30.73	$6,146	Form 4
Feb 26, 2026	Michael W. McCurdyChief Banking Officer	Sold	17,333	$31.04	$538,016	Form 4

Open-market purchases and sales by officers, directors and 10% owners, from their Form 4 filings with the SEC: one row per person, day and filing, at the day's average price. Grants, option exercises and shares withheld for tax aren't counted. Insiders buy and sell for many reasons, such as taxes, spreading their savings or a plan set up months earlier, so a trade on its own says little about where a company is heading. For information only, not investment advice. Insider trades at all companies

Compare

Put Beacon Financial side by side with any other company we cover: revenue, growth, margins, cash flow and returns, with ten years of charts.

Similar companies

Company	Year	Revenue growth	Net margin	Return on equity	Return on tangible equity	Efficiency ratio	Compare
Beacon Financial	FY25	38.2%	16.3%	4.9%	6.2%	70.5%
FB Financial	FY25	22.9%	21.9%	7.0%	8.4%	67.5%	Compare
ServisFirst Bancshares	FY25	16.8%	49.2%	16.0%	16.1%	32.9%	Compare
First Commonwealth Financial	FY25	9.4%	29.1%	10.3%	14.0%	56.4%	Compare
CVB Financial	FY25	2.7%	40.6%	9.3%	14.1%	46.0%	Compare

Each company's latest fiscal year. Fiscal years end in different months, so the periods don't line up exactly.

10 years of figures

Fiscal year	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Income statement
Revenue	298	365	430	449	383	434	414	412	400	553
Revenue growth	11.2%	22.5%	17.9%	4.3%	−14.7%	13.4%	−4.8%	−0.4%	−2.9%	38.2%
Net interest income	232	291	356	365	317	291	345	340	330	503
Noninterest income	66	74	74	84	66	143	69	32	26	50
Noninterest expense	203	253	267	290	840	286	289	240	242	390
Provision for credit losses	—	—	—	—	76	−0	11	38	22	41
Net income	59	55	106	97	−533	119	92	75	69	90
Diluted EPS (US$)	0.94	0.69	1.15	0.98	−5.30	1.20	1.01	0.85	0.77	1.03
Diluted shares (millions)	62	79	92	99	100	99	92	88	89	88
Payouts
Dividends paid	25	33	41	45	37	25	24	48	48	63
Share buybacks	0	0	0	53	0	69	124	24	18	0
Balance sheet at fiscal year end
Loans, net	6,506	8,248	8,982	9,439	7,954	6,720	8,239	8,934	9,654	17,777
Deposits	6,622	8,750	8,982	10,336	10,216	10,069	10,327	10,633	8,902	19,515
Total assets	9,162	11,571	12,212	13,216	12,838	11,555	11,663	12,431	11,905	23,220
Shareholders' equity	1,093	1,496	1,553	1,759	1,188	1,182	992	1,199	1,222	2,496
Ratios
Return on equity	5.9%	4.3%	6.9%	5.9%	−36.2%	10.0%	8.5%	6.8%	5.7%	4.9%
Return on tangible common equity	9.6%	7.0%	11.3%	9.3%	−47.0%	10.3%	8.7%	7.9%	7.2%	6.2%
Return on assets	0.7%	0.5%	0.9%	0.8%	−4.1%	1.0%	0.8%	0.6%	0.6%	0.5%
Efficiency ratio	68.2%	69.3%	62.0%	64.5%	219.3%	65.8%	69.8%	58.2%	60.5%	70.5%

US$ millions unless stated. Where a later 10-K restated a year, the latest filed figure is shown. Download all figures (CSV, US$ millions)

Source: Beacon Financial's Form 10-K filings, from SEC EDGAR. For information only, not investment advice. The Filing Desk is not affiliated with Beacon Financial.