Form 8-K

8-K — Beacon Financial Corp

Accession: 0001171843-26-006743

Filed: 2026-10-21

Period: 2026-10-21

CIK: 0001108134

SIC: 6036 (SAVINGS INSTITUTIONS, NOT FEDERALLY CHARTERED)

Item: Results of Operations and Financial Condition

Item: Regulation FD Disclosure

Item: Financial Statements and Exhibits

Documents

8-K — f8k_102126.htm (Primary)

EX-99.1 — PRESS RELEASE (exh_991.htm)

EX-99.2 — EXHIBIT 99.2 (exh_992.htm)

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8-K — FORM 8-K

8-K (Primary)

Filename: f8k_102126.htm · Sequence: 1

Form 8-K

False000110813400011081342026-10-212026-10-21iso4217:USDxbrli:sharesiso4217:USDxbrli:shares

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

_________________

FORM 8-K

_________________

CURRENT REPORT

Pursuant to Section 13 or 15(d)

of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported):  October 21, 2026

_______________________________

BEACON FINANCIAL CORPORATION

(Exact name of registrant as specified in its charter)

_______________________________

Delaware 001-15781 04-3510455

(State or Other Jurisdiction of Incorporation) (Commission File Number) (I.R.S. Employer Identification No.)

131 Clarendon Street

Boston, Massachusetts 02116

(Address of Principal Executive Offices) (Zip Code)

(617) 425-4600

(Registrant's telephone number, including area code)

Not applicable

(Former name or former address, if changed since last report)

_______________________________

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class Trading Symbol(s) Name of each exchange on which registered

Common Stock, par value of $0.01 per share BBT New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 2.02. Results of Operations and Financial Condition.

On October 21, 2026, the Board of Directors of Beacon Financial Corporation (the “Company”) issued a press release announcing its earnings for the quarter ended September 30, 2026. Additionally, the Company announced the approval by its Board of Directors of a regular quarterly dividend of $0.3225 per share payable on November 20, 2026, to stockholders of record on November 6, 2026. A copy of that press release is attached hereto as Exhibit 99.1 and is hereby incorporated by reference herein.

Item 7.01. Regulation FD Disclosure.

In connection with the press release announcing the Company’s third quarter earnings, the Company posted an investor presentation to its website at www.beaconfinancial.com. A copy of the investor presentation is attached hereto as Exhibit 99.2 and is hereby incorporated by reference herein.

Item 9.01. Financial Statements and Exhibits.

99.1   Press release of Beacon Financial Corporation reporting earnings and dividend approval, issued October 21, 2026

99.2   Investor Presentation of Beacon Financial Corporation, issued October 21, 2026

104   Cover Page Interactive Data File (embedded within the Inline XBRL document)

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

BEACON FINANCIAL CORPORATION

Date: October 21, 2026 By:  /s/ Carl M. Carlson

Carl M. Carlson

Chief Financial & Strategy Officer

EX-99.1 — PRESS RELEASE

EX-99.1

Filename: exh_991.htm · Sequence: 2

EdgarFiling

EXHIBIT 99.1

Beacon Financial Corporation Announces Third Quarter Results

Net Income of $61.2 million, EPS of $0.73

Operating Earnings of $64.7 million, Operating EPS of $0.77

Quarterly Dividend of $0.3225

Board Increases Stock Buyback Authorization to $125 million

BOSTON, Oct. 21, 2026 (GLOBE NEWSWIRE) -- Beacon Financial Corporation (NYSE: BBT) (the “Company”) today announced net income of $61.2 million, or $0.73 per basic and diluted share, for the third quarter of 2026, compared to $64.4 million, or $0.77 per basic and diluted share, for the second quarter of 2026, and a net loss of $(4.2) million, or $(0.05) per basic share, for the third quarter of 2025. The Company reported operating earnings after tax (non-GAAP) of $64.7 million, or $0.77 per basic and diluted share, for the third quarter of 2026, compared to operating earnings after tax (non-GAAP) of $64.4 million, or $0.77 per basic and diluted share, for the second quarter of 2026, and $34.0 million, or $0.39 per basic and diluted share, for the third quarter of 2025.

“Our quarterly results reflect improvement in net interest income and net interest margin. My early conversations and feedback from our clients and frontline bankers indicate positive momentum to come. At the same time, continued macroeconomic uncertainty and the higher-rate environment contributed to greater caution amongst borrowers and weighed on our overall loan growth,” said Sean Gray, the Company’s Chief Executive Officer.

“Since stepping into the CEO role shortly before the end of the quarter, I have focused on continuing the Company’s regular practice of engaging with shareholders, employees and clients, while aligning our senior leaders around the highest-impact opportunities to improve our financial and operating performance. Our immediate priorities are clear: greater expense discipline, stronger core funding, disciplined loan growth, continued credit vigilance, more diversified fee income and returning capital to shareholders. We’re committed to identifying decisive management-controlled actions that accelerate near-term performance and strengthen long-term franchise value.”

“The board has decided to increase the stock repurchase authorization to $125 million to reflect its confidence in our franchise, our capital position and the significant value we see in our shares. Going forward, investors should expect a more structured approach to capital allocation, one that supports organic growth, maintains balance sheet strength, and delivers attractive returns to shareholders.”

Presentation of Results - The Merger

The Company’s merger of equals (the “Merger”) with Brookline Bancorp, Inc. (“Brookline”), completed on September 1, 2025, 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 periods ended September 30, 2025 reflect one month of combined Company activity and eight months of legacy Brookline standalone results. As a result, the Company’s financial results for the third quarter of 2026 may not be directly comparable to prior reported periods.

BALANCE SHEET

Total assets decreased $375.4 million during the quarter to $21.9 billion at September 30, 2026. Total assets decreased $991.9 million from September 30, 2025, primarily driven by a decrease in cash and cash equivalents relating to a decline in payroll deposits due to the timing of payroll activity relative to quarter-end.

Total cash and cash equivalents at September 30, 2026 decreased $444.8 million to $771.4 million from June 30, 2026, and decreased $449.3 million from September 30, 2025.

Total loans and leases decreased $169.8 million to $17.7 billion at September 30, 2026 from June 30, 2026, and decreased $653.0 million from September 30, 2025, primarily due to a decline in commercial real estate, consumer and equipment financing loans, partially offset by an increase in commercial loans. Total investor commercial real estate as a percentage of total risk based capital declined to 295 percent as of September 30, 2026, achieving the goal we outlined in our initial merger announcement.

Total investment securities at September 30, 2026 increased $195.2 million to $2.0 billion from June 30, 2026, primarily driven by a $335.5 million purchase during the quarter and increased $217.1 million from September 30, 2025.

Total deposits as of September 30, 2026 decreased $303.3 million from June 30, 2026, primarily driven by a decrease of $326.7 million in payroll deposits and a decrease of $120.0 million in customer deposits, partially offset by an increase of $143.4 million in brokered deposits. Total deposits decreased $721.5 million from September 30, 2025, consisting of a $531.2 million decrease in brokered deposits, a $159.0 million decrease in payroll deposits, and a small decline of $31.3 million in customer deposits. Average balance total deposits increased 1 percent linked quarter.

Total borrowed funds at September 30, 2026 decreased $113.1 million from June 30, 2026, and decreased $305.0 million from September 30, 2025.

The ratio of stockholders’ equity to total assets was 11.52 percent at September 30, 2026, compared to 11.41 percent at June 30, 2026, and 10.76 percent at September 30, 2025. The ratio of tangible stockholders’ equity to tangible assets (non-GAAP) was 9.35 percent at September 30, 2026, compared to 9.25 percent at June 30, 2026, and 8.56 percent at September 30, 2025. Tangible book value per common share (non-GAAP) decreased $0.17 from $23.98 at June 30, 2026 to $23.81 at September 30, 2026, and increased $1.06 from $22.75 at September 30, 2025.

NET INTEREST INCOME

Net interest income increased $3.9 million to $197.2 million during the third quarter of 2026 from $193.2 million for the quarter ended June 30, 2026. The net interest margin increased 4 basis points to 3.85 percent for the three months ended September 30, 2026 from 3.81 percent for the three months ended June 30, 2026.

NON-INTEREST INCOME

Total non-interest income for the quarter ended September 30, 2026 remained consistent with the quarter ended June 30, 2026.

PROVISION FOR CREDIT LOSSES

The Company recorded a provision for credit losses of $8.9 million for the quarter ended September 30, 2026, compared to $5.0 million for the quarter ended June 30, 2026. The increase in the provision quarter over quarter was driven by the deterioration of three larger CRE loans that required specific reserves, offset by a decline in criticized and classified loans from $813 million to $763 million during the quarter.

Total net charge-offs for the third quarter of 2026 were $13.5 million compared to $14.3 million in the second quarter of 2026. The $13.5 million in net charge-offs were primarily driven by the restructuring of a large ABL transaction as well as smaller dollar charge-offs in the commercial portfolios. The ratio of net loan and lease charge-offs to average loans and leases on an annualized basis decreased to 30 basis points for the third quarter of 2026 from 32 basis points for the second quarter of 2026.

The allowance for loan and lease losses represented 1.32 percent of total loans and leases at September 30, 2026, compared to 1.34 percent at June 30, 2026, and 1.39 percent at September 30, 2025.

ASSET QUALITY

The ratio of nonperforming loans and leases to total loans and leases was 0.91 percent at September 30, 2026, an increase of 0.05 percent from 0.86 percent at June 30, 2026. Total nonaccrual loans and leases increased $7.9 million to $160.6 million at September 30, 2026, from $152.7 million at June 30, 2026. The ratio of nonperforming assets to total assets was 0.75 percent at September 30, 2026, an increase from 0.70 percent at June 30, 2026. Total nonperforming assets increased $7.9 million to $163.1 million at September 30, 2026 from $155.2 million at June 30, 2026. The increase in nonperforming assets was largely driven by two of the three larger CRE deals referenced above.

NON-INTEREST EXPENSE

Non-interest expense for the quarter ended September 30, 2026 increased $5.4 million to $132.7 million from $127.3 million for the quarter ended June 30, 2026, of which $5.1 million was related to restructuring expenses in the third quarter of 2026 compared to none in the second quarter of 2026. The remaining $0.3 million increase was primarily driven by elevated commercial loan servicing fees of $1.0 million, increases in marketing expense of $0.6 million and occupancy expense of $0.6 million, partially offset by a decrease of $1.0 million in technology expense and a decrease of $0.8 million in compensation and employee benefits expense.

PROVISION FOR INCOME TAXES

The effective tax rate was 25.0 percent and 26.7 percent for the three and nine months ended September 30, 2026 compared to 26.0 percent for the three months ended June 30, 2026 and 49.8 percent and 20.9 percent for the three and nine months ended September 30, 2025.

RETURNS ON AVERAGE ASSETS AND AVERAGE EQUITY

The annualized return on average assets decreased to 1.11 percent during the third quarter of 2026 from 1.17 percent for the second quarter of 2026.

The annualized return on average stockholders' equity decreased to 9.55 percent during the third quarter of 2026 from 10.15 percent for the second quarter of 2026. The annualized return on average tangible stockholders’ equity (non-GAAP) decreased to 12.02 percent for the third quarter of 2026 from 12.84 percent for the second quarter of 2026.

DIVIDEND DECLARED

The Company’s Board of Directors approved a dividend of $0.3225 per share for the quarter ended September 30, 2026. The dividend will be paid on November 20, 2026 to stockholders of record on November 6, 2026.

STOCK REPURCHASE

The Company’s Board of Directors approved an increase to its existing stock repurchase program bringing the total authorization up to $125 million. The stock repurchase program, which is subject to regulatory approval, authorizes the Company to repurchase up to $125 million of shares over 12 months following the authorization by regulatory authorities.

CONFERENCE CALL

The Company will conduct a conference call/webcast at 1:30 PM Eastern Time on Thursday, October 22, 2026 to discuss the results for the quarter, business highlights and outlook. A copy of the Earnings Presentation is available on the Company’s website at www.beaconfinancialcorporation.com. To listen to the call and view the Company’s Earnings Presentation, please join the call via https://events.q4inc.com/attendee/438851030. To listen to the call without access to the slides, interested parties may dial (833) 461-5787 (United States) or (585) 542-9983 (internationally) and ask for the Beacon Financial Corporation conference call (Conference ID: 438 851 030). A recorded playback of the call will be available for one week following the call on the Company’s website under “Investor Relations” or by dialing (833) 309-1852 (United States & Canada) or (929) 828-5978 (internationally) and entering the passcode: 438 851 030.

ABOUT BEACON FINANCIAL CORPORATION

Beacon Financial Corporation (NYSE: BBT) is the holding company for Beacon Bank & Trust, commonly known as Beacon Bank, a full-service regional bank serving the Northeast. Headquartered in Boston, the Company has $21.9 billion in assets and more than 145 branches throughout New England and New York. Beacon Bank offers a full suite of tailored banking solutions including commercial, cash management, asset-based lending, retail, consumer and residential products and services. The Company also provides equipment financing through its Eastern Funding subsidiary, SBA lending through its 44 Business Capital division, and private wealth services through Beacon Bank and Clarendon Private.

FORWARD-LOOKING STATEMENTS

Certain statements contained in this press release that are not historical facts may constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and are intended to be covered by the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. The Company may also make forward-looking statements in other documents it files with the Securities and Exchange Commission ("SEC"), in our annual reports to shareholders, in press releases and other written materials, and in oral statements made by our officers, directors or employees. You can identify forward looking statements by the use of the words “believe,” “expect,” “anticipate,” “intend,” “estimate,” “assume,” “outlook,” “will,” “should,” and other expressions that predict or indicate future events and trends and which do not relate to historical matters, including statements regarding the Company’s business, credit quality, financial condition, liquidity and results of operations. Forward-looking statements may differ, possibly materially, from what is included in this press release due to factors and future developments that are uncertain and beyond the scope of the Company’s control. These include, but are not limited to, changes in interest rates; general economic conditions (including the impact of ongoing armed conflicts, tariffs, inflation, and concerns about liquidity) on a national basis or in the local markets in which the Company operates; ongoing turbulence in the capital and debt markets; competitive pressures from other financial institutions; changes in consumer behavior due to changing political, business and economic conditions, or legislative or regulatory initiatives; changes in the value of securities and other assets in the Company’s investment portfolio; increases in loan and lease default and charge-off rates; the adequacy of allowances for loan and lease losses; decreases in deposit levels that necessitate increases in borrowing to fund loans and investments; operational risks including, but not limited to, cybersecurity incidents, fraud, natural disasters, and future pandemics; changes in regulation; the possibility that future credit losses may be higher than currently expected due to changes in economic assumptions and adverse economic developments; the risk that goodwill and intangibles recorded in the Company’s financial statements will become impaired; and changes in assumptions used in making such forward-looking statements. Forward-looking statements involve risks and uncertainties which are difficult to predict. The Company’s actual results could differ materially from those projected in the forward-looking statements as a result of, among others, the risks outlined in the Company’s Annual Report on Form 10-K, as updated by its Quarterly Reports on Form 10-Q and other filings submitted to the SEC. The Company does not undertake any obligation to update any forward-looking statement to reflect circumstances or events that occur after the date the forward-looking statements are made.

BASIS OF PRESENTATION

The Company's consolidated financial statements have been prepared in conformity with generally accepted accounting principles (“GAAP”) as set forth by the Financial Accounting Standards Board in its Accounting Standards Codification and through the rules and interpretive releases of the SEC under the authority of federal securities laws. Certain amounts previously reported have been reclassified to conform to the current period's presentation.

NON-GAAP FINANCIAL MEASURES

The Company uses certain non-GAAP financial measures, such as operating earnings after tax, operating earnings per common share, operating return on average assets, operating return on average tangible assets, operating return on average stockholders' equity, operating return on average tangible stockholders' equity, tangible book value per common share, tangible stockholders’ equity to tangible assets, return on average tangible assets (annualized) and return on average tangible stockholders' equity (annualized). These non-GAAP financial measures provide information for investors to effectively analyze financial trends of ongoing business activities, and to enhance comparability with peers across the financial services sector. A detailed reconciliation table of the Company's GAAP to the non-GAAP measures is attached.

INVESTOR RELATIONS:

Contact: Carl M. Carlson

Beacon Financial Corporation

Chief Financial and Strategy Officer

(617) 425-5331

carl.carlson@beaconbank.com

MEDIA CONTACT:

Contact: Gary Levante

Beacon Financial Corporation

Chief Marketing Officer

(413) 447-1737

gary.levante@beaconbank.com

BEACON FINANCIAL CORPORATION AND SUBSIDIARIES

Selected Financial Highlights (Unaudited)

At and for the Three Months Ended

September 30,

2026 June 30,

2026 March 31,

2026 December 31,

2025 September 30,

2025

(Dollars In Thousands Except per Share Data)

Earnings Data:

Net interest income $ 197,153 $ 193,207 $ 190,774 $ 199,741 $ 128,850

Provision for credit losses on loans and unfunded commitments 8,875 5,007 7,899 8,141 20,268

Provision (recovery) of credit losses on investments 53 (85) 47 (35) 32

Non-interest income 25,999 25,988 23,947 25,918 12,345

Non-interest expense 132,694 127,256 140,822 142,366 129,296

Income (loss) before provision for income taxes 81,530 87,017 65,953 75,187 (8,401)

Net income (loss) 61,182 64,426 46,217 53,366 (4,221)

Performance Ratios:

Net interest margin (1) 3.85 % 3.81 % 3.78 % 3.82 % 3.62 %

Interest-rate spread (1) 3.23 % 3.13 % 3.02 % 3.15 % 2.94 %

Return on average assets (annualized) 1.11 % 1.17 % 0.84 % 0.94 % (0.11)%

Return on average tangible assets (annualized) (non-GAAP) 1.14 % 1.20 % 0.86 % 0.97 % (0.11)%

Return on average stockholders' equity (annualized) 9.55 % 10.15 % 7.32 % 8.70 % (1.01)%

Return on average tangible stockholders' equity (annualized) (non-GAAP) 12.02 % 12.84 % 9.30 % 11.19 % (1.27)%

Efficiency ratio (2) 59.46 % 58.06 % 65.58 % 63.09 % 91.57 %

Core efficiency ratio (3) 53.54 % 54.26 % 55.64 % 52.81 % 56.55 %

Per Common Share Data:

Net income (loss) — Basic $ 0.73 $ 0.77 $ 0.55 $ 0.64 $ (0.05)

Net income (loss) — Diluted 0.73 0.77 0.55 0.64 (0.05)

Cash dividends declared 0.3225 0.3225 0.3225 0.3225 0.3225

Book value per share (end of period) 30.04 30.30 29.88 29.78 29.33

Tangible book value per share (end of period) (non-GAAP) 23.81 23.98 23.48 23.32 22.75

Stock price (end of period) 27.99 30.45 30.00 26.37 23.71

Balance Sheet:

Total assets $ 21,875,584 $ 22,250,964 $ 22,227,616 $ 23,220,372 $ 22,867,458

Total loans and leases 17,652,416 17,822,218 17,924,156 18,029,552 18,305,379

Total deposits 18,182,560 18,485,864 18,292,280 19,514,657 18,904,063

Total stockholders’ equity 2,519,589 2,539,796 2,504,781 2,496,061 2,461,015

Asset Quality:

Nonperforming assets $ 163,059 $ 155,155 $ 151,239 $ 116,747 $ 101,990

Nonperforming assets as a percentage of total assets 0.75 % 0.70 % 0.68 % 0.50 % 0.45 %

Allowance for loan and lease losses $ 233,188 $ 238,189 $ 244,377 $ 252,839 $ 253,735

Allowance for loan and lease losses as a percentage of total loans and leases 1.32 % 1.34 % 1.36 % 1.40 % 1.39 %

Net loan and lease charge-offs (4) 13,470 $ 14,280 $ 13,551 $ 9,019 $ 15,857

Net loan and lease charge-offs as a percentage of average loans and leases (annualized) 0.30 % 0.32 % 0.30 % 0.20 % 0.51 %

Capital Ratios:

Stockholders’ equity to total assets 11.52 % 11.41 % 11.27 % 10.75 % 10.76 %

Tangible stockholders’ equity to tangible assets (non-GAAP) 9.35 % 9.25 % 9.07 % 8.62 % 8.56 %

(1) Calculated on a fully tax-equivalent basis.

(2) Calculated as non-interest expense as a percentage of net interest income plus non-interest income.

(3) Core efficiency ratio excludes amortization of identified intangible assets.

(4) The balance at September 30, 2025 excludes a $15.8 million Merger Day 1 charge-offs write up.

BEACON FINANCIAL CORPORATION AND SUBSIDIARIES

Consolidated Balance Sheets (Unaudited)

September 30,

2026

June 30,

2026

March 31,

2026

December 31,

2025

September 30,

2025

ASSETS (In Thousands Except Share Data)

Cash and due from banks $ 273,493   $ 240,680   $ 185,692   $ 201,557   $ 182,251

Short-term investments   497,860     975,423     927,256     1,840,188     1,038,369

Total cash and cash equivalents   771,353     1,216,103     1,112,948     2,041,745     1,220,620

Investment securities available-for-sale   1,956,529     1,761,297     1,718,710     1,688,768     1,739,423

Total investment securities   1,956,529     1,761,297     1,718,710     1,688,768     1,739,423

Allowance for investment security losses   (109 )   (56 )   (141 )   (94 )   (129 )

Net investment securities   1,956,420     1,761,241     1,718,569     1,688,674     1,739,294

Loans and leases held-for-sale   —     —     —     —     83,330

Loans and leases:

Commercial real estate loans   9,710,208     9,884,139     9,957,408     10,012,094     10,247,090

Commercial loans and leases   4,050,789     3,981,803     4,011,974     3,947,363     3,950,693

Consumer loans   3,891,419     3,956,276     3,954,774     4,070,095     4,107,596

Total loans and leases   17,652,416     17,822,218     17,924,156     18,029,552     18,305,379

Allowance for loan and lease losses   (233,188 )   (238,189 )   (244,377 )   (252,839 )   (253,735 )

Net loans and leases   17,419,228     17,584,029     17,679,779     17,776,713     18,051,644

Restricted equity securities   79,570     90,660     97,441     87,438     99,431

Premises and equipment, net of accumulated depreciation   167,504     161,175     161,141     162,474     158,375

Right-of-use asset operating leases   80,249     82,909     84,851     82,817     84,238

Deferred tax asset   156,371     138,466     142,827     149,487     178,456

Goodwill   357,358     357,358     355,269     351,613     353,471

Identified intangible assets, net of accumulated amortization   164,780     172,906     181,234     189,562     198,339

Other real estate owned and repossessed assets   2,505     2,505     2,623     2,591     3,360

Cash surrender value of bank-owned life insurance policies   337,791     335,523     336,980     334,442     332,840

Other assets   382,455     348,089     353,954     352,816     364,060

Total assets $ 21,875,584   $ 22,250,964   $ 22,227,616   $ 23,220,372   $ 22,867,458

LIABILITIES AND STOCKHOLDERS' EQUITY

Deposits:

Demand checking accounts $ 3,886,512   $ 3,910,604   $ 3,861,000   $ 4,032,529   $ 3,905,559

Interest-bearing deposits:

NOW accounts   1,570,468     1,569,862     1,520,600     1,445,894     1,470,808

Savings accounts   3,045,425     3,035,355     3,088,857     2,954,029     2,904,888

Money market accounts   4,351,324     4,461,990     4,393,607     4,636,548     4,545,231

Payroll deposit accounts   885,465     1,212,178     1,213,861     1,878,758     1,044,462

Certificate of deposit accounts   4,068,649     4,064,518     4,085,511     4,156,540     4,127,226

Brokered deposit accounts   374,717     231,357     128,844     410,359     905,889

Total interest-bearing deposits   14,296,048     14,575,260     14,431,280     15,482,128     14,998,504

Total deposits   18,182,560     18,485,864     18,292,280     19,514,657     18,904,063

Borrowed funds:

Advances from the FHLB   358,236     633,292     822,091     555,788     841,044

Subordinated debentures and notes   301,470     202,278     198,989     198,572     198,283

Other borrowed funds   115,767     53,022     51,423     34,000     41,189

Total borrowed funds   775,473     888,592     1,072,503     788,360     1,080,516

Operating lease liabilities   87,961     90,936     92,820     90,713     92,211

Reserve for unfunded credits   13,876     13,470     16,555     13,746     13,727

Accrued expenses and other liabilities   296,125     232,306     248,677     316,835     315,926

Total liabilities   19,355,995     19,711,168     19,722,835     20,724,311     20,406,443

Stockholders' equity:

Common stock, $0.01 par value; 200,000,000 shares authorized; 89,576,403 shares issued, 89,576,403 shares issued, 89,576,403 shares issued, 89,576,403 shares issued, and 89,576,403 shares issued, respectively   896     896     896     896     896

Additional paid-in capital   2,167,725     2,164,080     2,172,982     2,171,885     2,171,912

Retained earnings   576,280     542,304     504,976     485,862     459,598

Accumulated other comprehensive income   (91,478 )   (34,929 )   (31,411 )   (20,002 )   (28,905 )

Treasury stock, at cost;

5,254,101, 5,211,670, 5,548,772, 5,545,511, and 5.449,039, shares, respectively   (133,834 )   (132,555 )   (142,662 )   (142,580 )   (142,486 )

Total stockholders' equity   2,519,589     2,539,796     2,504,781     2,496,061     2,461,015

Total liabilities and stockholders' equity $ 21,875,584   $ 22,250,964   $ 22,227,616   $ 23,220,372   $ 22,867,458

BEACON FINANCIAL CORPORATION AND SUBSIDIARIES

Consolidated Statements of Income (Unaudited)

Three Months Ended

September 30,

2026

June 30,

2026

March 31,

2026 December 31,

2025

September 30,

2025

(In Thousands Except Share Data)

Interest and dividend income:

Loans and leases $ 270,278 $ 265,596   $ 266,935 $ 285,795   $ 194,517

Debt securities   19,748   18,370     16,510   16,335     10,984

Restricted equity securities   1,107   1,506     843   1,160     1,466

Short-term investments   7,780   8,162     8,096   9,293     5,438

Total interest and dividend income   298,913   293,634     292,384   312,583     212,405

Interest expense:

Deposits   91,559   88,959     93,056   102,439     71,901

Borrowed funds   10,201   11,468     8,554   10,403     11,654

Total interest expense   101,760   100,427     101,610   112,842     83,555

Net interest income   197,153   193,207     190,774   199,741     128,850

Provision for credit losses on loans   8,875   5,007     7,899   8,141     20,268

Provision (recovery) of credit losses on investments   53   (85 )   47   (35 )   32

Net interest income after provision for credit losses   188,225   188,285     182,828   191,635     108,550

Non-interest income:

Deposit fees   8,594   8,510     8,347   9,843     5,005

Loan fees   2,606   2,619     2,366   2,189     1,004

Loan level derivative income (loss)   1,094   1,391     775   721     635

Gain on sales of loans and leases held-for-sale   3,669   3,869     2,689   4,154     1,175

Wealth management fees   4,739   4,860     4,464   4,370     2,466

Other   5,297   4,739     5,306   4,641     2,060

Total non-interest income   25,999   25,988     23,947   25,918     12,345

Non-interest expense:

Compensation and employee benefits   69,439   70,280     69,650   70,204     49,999

Occupancy   12,380   11,791     13,097   11,877     6,921

Equipment and data processing   16,999   18,300     20,127   19,754     11,110

Professional services   2,659   2,769     2,462   2,778     2,114

FDIC insurance   2,841   3,332     4,320   1,924     1,971

Advertising and marketing   1,722   1,152     1,679   2,157     1,583

Amortization of identified intangible assets   8,126   8,328     8,328   8,777     3,587

Other   13,427   11,304     8,134   10,471     6,148

Total non-interest operating expense   127,593   127,256     127,797   127,942     83,433

Merger and restructuring expense   5,101   —     13,025   14,424     45,863

Total non-interest expense   132,694   127,256     140,822   142,366     129,296

Income (loss) before provision for income taxes   81,530   87,017     65,953   75,187     (8,401 )

Provision (benefit) for income taxes   20,348   22,591     19,736   21,821     (4,180 )

Net Income (loss) $ 61,182 $ 64,426   $ 46,217 $ 53,366   $ (4,221 )

Earnings per common share:

Basic $ 0.73 $ 0.77   $ 0.55 $ 0.64   $ (0.05 )

Diluted $ 0.73 $ 0.77   $ 0.55 $ 0.64   $ (0.05 )

Weighted average common shares outstanding during the period:

Basic   83,837,909   83,816,086     83,816,086   83,851,381     87,508,517

Diluted   83,997,567   83,939,430     83,903,440   83,878,047     87,832,552

Dividends paid per common share $ 0.3225 $ 0.3225   $ 0.3225 $ 0.3225   $ 0.3225

BEACON FINANCIAL CORPORATION AND SUBSIDIARIES

Consolidated Statements of Income (Unaudited)

Nine Months Ended September 30,

2026   2025

(In Thousands Except Share Data)

Interest and dividend income:

Loans and leases $ 802,809 $ 481,759

Debt securities   54,628   24,440

Restricted equity securities   3,456   3,731

Short-term investments   24,038   10,275

Total interest and dividend income   884,931   520,205

Interest expense:

Deposits   273,574   178,061

Borrowed funds   30,223   38,779

Total interest expense   303,797   216,840

Net interest income   581,134   303,365

Provision for credit losses on loans   21,781   33,239

Provision (recovery) of credit losses on investments   15   47

Net interest income after provision for credit losses   559,338   270,079

Non-interest income:

Deposit fees   25,451   9,838

Loan fees   7,591   1,869

Loan level derivative income (loss)   3,260   701

Gain on sales of loans and leases held-for-sale   10,227   1,463

Wealth management fees   14,063   5,378

Other   15,342   4,726

Total non-interest income   75,934   23,975

Non-interest expense:

Compensation and employee benefits   209,369   120,999

Occupancy   37,268   17,991

Equipment and data processing   55,426   24,963

Professional services   7,890   5,311

FDIC insurance   10,493   5,888

Advertising and marketing   4,553   3,822

Amortization of identified intangible assets   24,782   6,448

Other   32,865   14,684

Total non-interest operating expense   382,646   200,106

Merger and restructuring expense   18,126   47,273

Total non-interest expense   400,772   247,379

Income before provision for income taxes   234,500   46,675

Provision for income taxes   62,675   9,770

Net income $ 171,825 $ 36,905

Earnings per common share:

Basic $ 2.05 $ 0.42

Diluted $ 2.05 $ 0.41

Weighted average common shares outstanding during the period:

Basic   83,823,440   88,566,368

Diluted   83,946,890   88,998,517

Dividends paid per common share $ 0.9675 $ 0.5925

BEACON FINANCIAL CORPORATION AND SUBSIDIARIES

Asset Quality Analysis (Unaudited)

At and for the Three Months Ended

September 30,

2026

June 30,

2026

March 31,

2026 December 31,

2025

September 30,

2025

(Dollars in Thousands)

NONPERFORMING ASSETS:

Loans and leases accounted for on a nonaccrual basis:

Commercial real estate mortgage $ 77,443   $ 67,645   $ 65,127   $ 41,246   $ 30,213

Multi-family mortgage   8,673     9,484     12,995     4,065     2,994

Construction   —     —     —     —     535

Total commercial real estate loans   86,116     77,129     78,122     45,311     33,742

Commercial   20,396     20,873     22,626     16,716     14,035

Equipment financing   44,862     45,493     38,633     42,718     41,793

Total commercial loans and leases   65,258     66,366     61,259     59,434     55,828

Residential mortgage   5,876     5,991     5,807     6,465     6,597

Home equity   2,954     3,041     3,222     2,739     2,220

Other consumer   350     123     206     207     243

Total consumer loans   9,180     9,155     9,235     9,411     9,060

Total nonaccrual loans and leases   160,554     152,650     148,616     114,156     98,630

Other real estate owned   70     70     —     —     824

Other repossessed assets   2,435     2,435     2,623     2,591     2,536

Total nonperforming assets $ 163,059   $ 155,155   $ 151,239   $ 116,747   $ 101,990

Loans and leases past due greater than 90 days and still accruing $ 27,849   $ 7,785   $ 5,834   $ 37,823   $ 23,570

Nonperforming loans and leases as a percentage of total loans and leases   0.91 %   0.86 %   0.83 %   0.63 %   0.54 %

Nonperforming assets as a percentage of total assets   0.75 %   0.70 %   0.68 %   0.50 %   0.45 %

PROVISION AND ALLOWANCE FOR LOAN AND LEASE LOSSES:

Allowance for loan and lease losses at beginning of period $ 238,189   $ 244,377   $ 252,839   $ 253,735   $ 126,725

Merger Day 1 allowance on non-PCD loans *   —     —     —     —     67,229

Merger Day 1 allowance on PCD loans   —     —     —     —     64,511

Charge-offs   (14,714 )   (15,353 )   (15,880 )   (10,917 )   (16,661 )

Recoveries   1,244     1,073     2,329     1,898     804

Net charge-offs**   (13,470 )   (14,280 )   (13,551 )   (9,019 )   (15,857 )

Provision for loan and lease losses excluding unfunded commitments ***   8,469     8,092     5,089     8,123     11,127

Allowance for loan and lease losses at end of period $ 233,188   $ 238,189   $ 244,377   $ 252,839   $ 253,735

Allowance for loan and lease losses as a percentage of total loans and leases   1.32 %   1.34 %   1.36 %   1.40 %   1.39 %

NET CHARGE-OFFS:

Commercial real estate loans $ 3,431   $ 7,416   $ 6,997   $ 6,598   $ 819

Commercial loans and leases   10,088     6,897     6,611     2,799     15,116

Consumer loans   (49 )   (33 )   (57 )   (378 )   (78 )

Total net charge-offs** $ 13,470   $ 14,280   $ 13,551   $ 9,019   $ 15,857

Net loan and lease charge-offs as a percentage of average loans and leases (annualized)   0.30 %   0.32 %   0.30 %   0.20 %   0.51 %

*As a result of the adoption of ASU 2025-08, this amount, related to seasoned non-PCD loans, is recorded as part of purchase accounting adjustments, not through the provision.

** Excludes the impact of Merger Day 1 purchase accounting that resulted in $15.8 million of charge-offs during the three months ended September 30, 2025.

***Provision for loan and lease losses does not include provision (credit) of $0.4 million, $(3.1 million), $2.8 million, $(0.0 million), and $9.1 million of which $8.4 million was related to Merger Day 1 for credit losses on unfunded commitments during the three months ended September 30, 2026, June 30, 2026, March 31, 2026, December 31, 2025, and September 30, 2025, respectively.

BEACON FINANCIAL CORPORATION. AND SUBSIDIARIES

Average Yields / Costs (Unaudited)

Three Months Ended

September 30, 2026 June 30, 2026 September 30, 2025

Average

Balance Interest

(1) Average Yield/ Cost Average

Balance Interest

(1) Average Yield/ Cost Average

Balance Interest

(1) Average Yield/ Cost

(Dollars in Thousands)

Assets:

Interest-earning assets:

Investments:

Debt securities (2) $ 1,866,739 $ 20,403 4.37 % $ 1,750,455 $ 19,013 4.35 % $ 1,165,022 $ 11,273 3.87 %

Restricted equity securities (2)   83,794   1,110 5.30 %   95,840   1,507 6.29 %   73,853   1,467 7.95 %

Short-term investments   820,295   7,780 3.79 %   860,874   8,162 3.79 %   448,044   5,438 4.85 %

Total investments   2,770,828   29,293 4.23 %   2,707,169   28,682 4.24 %   1,686,919   18,178 4.31 %

Loans and Leases:

Commercial real estate loans (3)   9,786,763   144,375 5.77 %   9,865,901   142,453 5.71 %   7,013,916   105,287 5.87 %

Commercial loans (3)   2,996,699   48,836 6.38 %   2,952,686   46,038 6.17 %   1,818,012   30,115 6.48 %

Equipment financing (3)   1,015,449   20,138 7.93 %   1,052,189   21,675 8.24 %   1,209,797   24,692 8.16 %

Consumer loans (3)   3,916,588   57,959 5.91 %   3,935,888   56,399 5.73 %   2,505,760   35,103 5.59 %

Total loans and leases   17,715,499   271,308 6.13 %   17,806,664   266,565 5.99 %   12,547,485   195,197 6.22 %

Total interest-earning assets   20,486,327   300,601 5.87 %   20,513,833   295,247 5.76 %   14,234,404   213,375 6.00 %

Non-interest-earning assets   1,558,531       1,526,851       975,676

Total assets $ 22,044,858     $ 22,040,684     $ 15,210,080

Liabilities and Stockholders' Equity:

Interest-bearing liabilities:

Deposits:

NOW accounts $ 1,588,380   3,536 0.88 % $ 1,535,148   3,622 0.95 % $ 917,794   1,786 0.77 %

Savings accounts   3,044,938   14,342 1.87 %   3,057,585   14,045 1.84 %   2,201,808   12,867 2.32 %

Money market accounts   4,470,968   27,316 2.42 %   4,396,223   26,245 2.39 %   3,324,253   23,131 2.76 %

Certificates of deposit   4,075,397   35,397 3.45 %   4,051,332   34,862 3.45 %   2,607,493   24,956 3.80 %

Payroll deposit accounts (4)   1,000,373   7,725 3.06 %   1,127,661   8,570 3.05 %   NA   NA NA

Brokered deposit accounts   317,741   3,243 4.05 %   174,146   1,615 3.72 %   823,059   9,161 4.42 %

Total interest-bearing deposits   14,497,797   91,559 2.51 %   14,342,095   88,959 2.49 %   9,874,407   71,901 2.89 %

Borrowings

Advances from the FHLB   461,293   4,451 3.78 %   742,763   7,169 3.82 %   792,455   8,709 4.30 %

Subordinated debentures and notes   258,936   5,042 7.79 %   199,243   3,693 7.41 %   121,526   2,394 7.88 %

Other borrowed funds   76,963   708 3.65 %   54,565   606 4.46 %   42,303   551 5.16 %

Total borrowings   797,192   10,201 5.01 %   996,571   11,468 4.55 %   956,284   11,654 4.77 %

Total interest-bearing liabilities   15,294,989   101,760 2.64 %   15,338,666   100,427 2.63 %   10,830,691   83,555 3.06 %

Non-interest-bearing liabilities:

Demand checking accounts   3,829,078       3,813,559       2,414,119

Other non-interest-bearing liabilities   358,987       348,856       287,062

Total liabilities   19,483,054       19,501,081       13,531,872

Stockholders’ equity   2,561,804       2,539,603       1,678,208

Total liabilities and equity $ 22,044,858     $ 22,040,684     $ 15,210,080

Net interest income (tax-equivalent basis) /Interest-rate spread (5)     198,841 3.23 %     194,820 3.13 %     129,820 2.94 %

Less adjustment of tax-exempt income     1,688       1,613       970

Net interest income   $ 197,153     $ 193,207     $ 128,850

Net interest margin (6)     3.85 %     3.81 %     3.62 %

(1) Tax-exempt income on debt securities, equity securities and revenue bonds included in commercial real estate loans is included on a tax-equivalent basis.

(2) Average balances include unrealized gains (losses) on investment securities. Dividend payments may not be consistent and average yield on equity securities may vary from month to month.

(3) Loans on nonaccrual status are included in the average balances.

(4) Payroll deposit accounts, if any, in periods prior to June 30, 2026, are included in the average money market account balance.

(5) Interest rate spread represents the difference between the yield on interest-earning assets and the cost of interest-bearing liabilities.

(6) Net interest margin represents net interest income (tax-equivalent basis) divided by average interest-earning assets on an actual/actual basis.

BEACON FINANCIAL CORPORATION AND SUBSIDIARIES

Average Yields / Costs (Unaudited)

Nine Months Ended

September 30, 2026 September 30, 2025

Average

Balance Interest

(1) Average

Yield/Cost Average

Balance Interest

(1) Average

Yield/Cost

(Dollars in Thousands)

Assets:

Interest-earning assets:

Investments:

Debt securities (2) $ 1,767,860 $ 56,569 4.27 % $ 977,060 $ 24,839 3.39 %

Restricted equity securities (2)   87,970   3,462 5.25 %   69,802   3,733 7.13 %

Short-term investments   835,739   24,038 3.84 %   304,870   10,275 4.49 %

Total investments   2,691,569   84,069 4.16 %   1,351,732   38,847 3.83 %

Loans and Leases:

Commercial real estate loans (3)   9,874,879   429,887 5.74 %   6,071,163   259,666 5.64 %

Commercial loans (3)   2,942,577   139,520 6.25 %   1,449,490   70,600 6.42 %

Equipment financing (3)   1,061,285   65,358 8.21 %   1,243,492   75,696 8.12 %

Consumer loans (3)   3,952,764   171,022 5.77 %   1,873,834   77,401 5.51 %

Total loans and leases   17,831,505   805,787 6.03 %   10,637,979   483,363 6.06 %

Total interest-earning assets   20,523,074   889,856 5.78 %   11,989,711   522,210 5.81 %

Non-interest-earning assets   1,550,392       742,502

Total assets $ 22,073,466     $ 12,732,213

Liabilities and Stockholders' Equity:

Interest-bearing liabilities:

Deposits:

NOW accounts $ 1,539,776   10,688 0.93 % $ 729,035   3,825 0.70 %

Savings accounts   3,045,217   41,999 1.84 %   1,910,457   33,732 2.36 %

Money market accounts   5,567,366   105,821 2.54 %   2,571,233   50,708 2.64 %

Certificates of deposit   4,087,458   107,129 3.50 %   2,127,184   62,986 3.96 %

Brokered deposit accounts   266,394   7,937 3.98 %   779,717   26,810 4.60 %

Total interest-bearing deposits   14,506,211   273,574 2.52 %   8,117,626   178,061 2.93 %

Borrowings

Advances from the FHLB   560,108   16,298 3.84 %   900,666   30,978 4.54 %

Subordinated debentures and notes   219,199   12,323 7.50 %   96,887   5,813 8.00 %

Other borrowed funds   53,017   1,602 4.04 %   53,177   1,988 5.00 %

Total borrowings   832,324   30,223 4.79 %   1,050,730   38,779 4.87 %

Total interest-bearing liabilities   15,338,535   303,797 2.65 %   9,168,356   216,840 3.16 %

Non-interest-bearing liabilities:

Demand checking accounts   3,836,271       1,919,100

Other non-interest-bearing liabilities   356,724       254,646

Total liabilities   19,531,530       11,342,102

Stockholders’ equity   2,541,936       1,390,111

Total liabilities and equity $ 22,073,466     $ 12,732,213

Net interest income (tax-equivalent basis) /Interest-rate spread (4)     586,059 3.13 %     305,370 2.65 %

Less adjustment of tax-exempt income     4,925       2,005

Net interest income   $ 581,134     $ 303,365

Net interest margin (5)     3.82 %     3.41 %

(1) Tax-exempt income on debt securities, equity securities and revenue bonds included in commercial real estate loans is included on a tax-equivalent basis.

(2) Average balances include unrealized gains (losses) on investment securities. Dividend payments may not be consistent and average yield on equity securities may vary from month to month.

(3) Loans on nonaccrual status are included in the average balances.

(4) Interest rate spread represents the difference between the yield on interest-earning assets and the cost of interest-bearing liabilities.

(5) Net interest margin represents net interest income (tax-equivalent basis) divided by average interest-earning assets on an actual/actual basis.

BEACON FINANCIAL CORPORATION AND SUBSIDIARIES

Non-GAAP Financial Information (Unaudited)

At and for the Three Months Ended

September 30, At and for the Nine Months Ended

September 30,

2026     2025     2026     2025

Reconciliation Table - Non-GAAP Financial Information

Reported Pretax Income $ 81,530   $ (8,401 ) $ 234,500   $ 46,675

Less:

Gain/(Loss) - Other*   542     —     645     —

Add:

Merger Day 1 CECL provision   —     8,415     —     8,415

Merger and restructuring expense   5,101     45,863     18,126     47,273

Operating Pretax income   $ 86,089   $ 45,877   $ 251,981   $ 102,363

Effective tax rate     24.9 %   25.9 %   25.5 %   25.9 %

Provision for income taxes     21,436     11,864     64,255     26,471

Operating earnings after tax $ 64,653   $ 34,013   $ 187,726   $ 75,892

Operating earnings per common share:

Basic   $ 0.77   $ 0.39   $ 2.24   $ 0.86

Diluted   $ 0.77   $ 0.39   $ 2.24   $ 0.85

Weighted average common shares outstanding during the period:

Basic     83,837,909     87,508,517     83,823,440     88,566,368

Diluted     83,997,567     87,832,552     83,946,890     88,998,517

Return on average assets **   1.11 %   (0.11 )%   1.04 %   0.39 %

Less:

Gain/(Loss) - Other (after-tax) **   0.01 %   — %   — %   — %

Add:

Merger Day 1 CECL provision (after-tax) **   — %   0.16 %   — %   0.07 %

Merger and restructuring expense (after-tax) **   0.07 %   0.89 %   0.08 %   0.37 %

Operating return on average assets **   1.17 %   0.94 %   1.12 %   0.83 %

Return on average tangible assets **   1.14 %   (0.11 )%   1.06 %   0.40 %

Less:

Gain/(Loss) - Other (after-tax) **   0.01 %   — %   — %   — %

Add:

Merger Day 1 CECL provision (after-tax) **   — %   0.17 %   — %   0.07 %

Merger and restructuring expense (after-tax) **   0.07 %   0.92 %   0.08 %   0.38 %

Operating return on average tangible assets **   1.20 %   0.98 %   1.14 %   0.85 %

Return on average stockholders' equity **   9.55 %   (1.01 )%   9.01 %   3.54 %

Less:

Gain/(Loss) - Other (after-tax) **   0.06 %   — %   0.03 %   — %

Add:

Merger Day 1 CECL provision (after-tax) **   — %   1.49 %   — %   0.60 %

Merger and restructuring expense (after-tax) **   0.60 %   8.10 %   0.71 %   3.36 %

Operating return on average stockholders' equity **   10.09 %   8.58 %   9.69 %   7.50 %

Return on average tangible stockholders' equity **   12.02 %   (1.27 )%   11.40 %   4.47 %

Less:

Gain/(Loss) - Other (after-tax) **   0.08 %   — %   0.03 %   — %

Add:

Merger Day 1 CECL provision (after-tax) **   — %   1.88 %   — %   0.76 %

Merger and restructuring expense (after-tax) **   0.75 %   10.26 %   0.90 %   4.25 %

Operating return on average tangible stockholders' equity **   12.69 %   10.87 %   12.27 %   9.48 %

* Driven by the sale of three buildings.

** Ratios at and for the three months and nine months ended are annualized.

At and for the Three Months Ended

September 30,

2026

June 30,

2026

March 31,

2026

December 31,

2025

September 30

2025

(Dollars in Thousands)

Net income (loss), as reported $ 61,182   $ 64,426   $ 46,217   $ 53,366   $ (4,221 )

Average total assets $ 22,044,858   $ 22,040,684   $ 22,135,857   $ 22,644,481   $ 15,210,080

Less: Average goodwill and average identified intangible assets, net   526,015     532,255     536,900     546,276     353,189

Average tangible assets $ 21,518,843   $ 21,508,429   $ 21,598,957   $ 22,098,205   $ 14,856,891

Return on average tangible assets (annualized)   1.14 %   1.20 %   0.86 %   0.97 %   (0.11 )%

Average total stockholders’ equity $ 2,561,804   $ 2,539,603   $ 2,523,986   $ 2,453,480   $ 1,678,208

Less: Average goodwill and average identified intangible assets, net   526,015     532,255     536,900     546,276     353,189

Average tangible stockholders’ equity $ 2,035,789   $ 2,007,348   $ 1,987,086   $ 1,907,204   $ 1,325,019

Return on average tangible stockholders’ equity (annualized)   12.02 %   12.84 %   9.30 %   11.19 %   (1.27 )%

Total stockholders’ equity $ 2,519,589   $ 2,539,796   $ 2,504,781     2,496,061     2,461,015

Less:

Goodwill   357,358     357,358     355,269     351,613     353,471

Identified intangible assets, net   164,780     172,906     181,234     189,562     198,339

Tangible stockholders' equity $ 1,997,451   $ 2,009,532   $ 1,968,278   $ 1,954,886   $ 1,909,205

Total assets $ 21,875,584   $ 22,250,964   $ 22,227,616   $ 23,220,372   $ 22,867,458

Less:

Goodwill   357,358     357,358     355,269     351,613     353,471

Identified intangible assets, net   164,780     172,906     181,234     189,562     198,339

Tangible assets $ 21,353,446   $ 21,720,700   $ 21,691,113   $ 22,679,197   $ 22,315,648

Tangible stockholders’ equity to tangible assets   9.35 %   9.25 %   9.07 %   8.62 %   8.56 %

Tangible stockholders' equity $ 1,997,451   $ 2,009,532   $ 1,968,278   $ 1,954,886   $ 1,909,205

Number of common shares issued   89,576,403     89,576,403     89,576,403     89,576,403     89,576,403

Less:

Treasury shares   5,254,101     5,211,670     5,548,772     5,545,511     5,449,039

Unvested restricted shares   439,292     548,647     211,545     214,806     218,503

Number of common shares outstanding   83,883,010     83,816,086     83,816,086     83,816,086     83,908,861

Tangible book value per common share $ 23.81   $ 23.98   $ 23.48   $ 23.32   $ 22.75

Non-interest expense $ 132,694   $ 127,256   $ 140,822   $ 142,366   $ 129,296

Less:

Merger and restructuring expense   5,101     —     13,025     14,424     45,863

Total non-interest operating expense $ 127,593   $ 127,256   $ 127,797   $ 127,942   $ 83,433

Less:

Amortization of identified intangible assets   8,126     8,328     8,328     8,777     3,587

Non-interest expense for operating efficiency ratio $ 119,467   $ 118,928   $ 119,469   $ 119,165   $ 79,846

Efficiency ratio   59.46 %   58.06 %   65.58 %   63.09 %   91.57 %

Core efficiency ratio   53.54 %   54.26 %   55.64 %   52.81 %   56.55 %

A PDF accompanying this announcement is available at: http://ml.globenewswire.com/Resource/Download/8505cb1c-8ada-4b5b-9b7a-c3e755affc8a

EX-99.2 — EXHIBIT 99.2

EX-99.2

Filename: exh_992.htm · Sequence: 3

EdgarFiling

Exhibit 99.2

3Q 2026 Financial Results 1 October 22, 2026

Forward Looking Statements 2 Certain statements contained in this presentation that are not historical facts may constitute forward - looking statements within the meaning of Section 27 A of the Securities Act of 1933 , as amended, and Section 21 E of the Securities Exchange Act of 1934 , as amended, and are intended to be covered by the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 . The Company may also make forward - looking statements in other documents it files with the Securities and Exchange Commission ("SEC"), in our annual reports to shareholders, in press releases and other written materials, and in oral statements made by our officers, directors or employees . You can identify forward looking statements by the use of the words “believe,” “expect,” “anticipate,” “intend,” “estimate,” “assume,” “outlook,” “will,” “should,” and other expressions that predict or indicate future events and trends and which do not relate to historical matters, including statements regarding the Company’s business, credit quality, financial condition, liquidity and results of operations . Forward - looking statements may differ, possibly materially, from what is included in this press release due to factors and future developments that are uncertain and beyond the scope of the Company’s control . These include, but are not limited to, changes in interest rates ; general economic conditions (including the impact of ongoing armed conflicts, tariffs, inflation, and concerns about liquidity) on a national basis or in the local markets in which the Company operates ; turbulence in the capital and debt markets ; competitive pressures from other financial institutions ; changes in consumer behavior due to changing political, business and economic conditions, or legislative or regulatory initiatives ; changes in the value of securities and other assets in the Company’s investment portfolio ; increases in loan and lease default and charge - off rates ; the adequacy of allowances for loan and lease losses ; decreases in deposit levels that necessitate increases in borrowing to fund loans and investments ; operational risks including, but not limited to, cybersecurity incidents, fraud, natural disasters, and future pandemics ; changes in regulation ; the possibility that future credit losses may be higher than currently expected due to changes in economic assumptions and adverse economic developments ; the risk that goodwill and intangibles recorded in the Company’s financial statements will become impaired ; and changes in assumptions used in making such forward - looking statements . Forward - looking statements involve risks and uncertainties which are difficult to predict . The Company’s actual results could differ materially from those projected in the forward - looking statements as a result of, among others, the risks outlined in the Company’s Annual Report on Form 10 - K, as updated by its Quarterly Reports on Form 10 - Q and other filings submitted to the SEC . The Company does not undertake any obligation to update any forward - looking statement to reflect circumstances or events that occur after the date the forward - looking statements are made . Non - GAAP In addition to financial measures presented in accordance with U . S . generally accepted accounting principles (“GAAP”), this presentation contains certain non - GAAP financial measures, including, without limitation, operating earnings, and the ratios of tangible common equity to tangible assets . The presentation of non - GAAP financial information is not intended to be considered in isolation or as a substitute for any measure prepared in accordance with GAAP . Please see the Earnings Release for certain Non - GAAP reconciliations .

Two decades of proven leadership. Deep experience across Beacon’s businesses and operations Commercial banking Built C&I, asset - based lending and SBA businesses. Hired many of our banking teams. Retail banking Built private and digital banking. Improved branch efficiency. Fee businesses Built wealth management and cash management businesses. Support functions Built technology, risk and compliance, HR, legal and marketing capabilities. Sean A. Gray CEO PRIOR ROLES COO, Beacon President, Berkshire Interim CEO, Berkshire 3 6 YEARS 19 YEARS 15 YEARS 19 YEARS

$0.73 Quarterly GAAP EPS $0.3225 Quarterly Dividend Per Share Highlights Board authorized additional $75 million in stock buybacks bringing total plan to $125 million. Total assets of $21.9 billion. Total loans of $17.7 billion. Total deposits of $18.2 billion. Margin of 3.85%. ROA of 1.11% and ROTE of 12.02%. Core efficiency ratio of 53.54%. Fortress Balance Sheet / Asset Quality Loans to Deposits of 97%. NPAs to total assets of 0.75%. Reserve to Loans coverage of 1.32%. Total Risk Based Capital of 14.6% and Tangible Common Equity (TCE) of 9.4%. ICRE to Total Risk Based Capital of 295%. 4 $0.77 Quarterly Operating EPS

Summary Income Statement Amounts as presented may differ slightly from the Company’s Earnings Release due to rounding to foot schedules presented. 5 Net income of $61.2 million or $0.73 per share. Net interest income increased $3.9 million from prior quarter reflecting higher margin and one additional day in Q3. Non - interest income remained consistent quarter over quarter while non - interest expense increased $0.6 million from prior quarter. Q3 2025 results are reflective of the close of the merger of equals. %Δ Δ 3Q25 %Δ Δ 2Q26 3Q26 $m, except per share amts 53% $ 68.2 $ 128.9 2% $ 3.9 $ 193.2 $ 197.1 Net interest income 111% 13.7 12.3 0% 0.0 26.0 26.0 Noninterest income 58% 81.9 141.2 2% 3.9 219.2 223.1 Total Revenue 50% 39.7 79.8 0% 0.6 118.9 119.5 Noninterest expense 125% 4.5 3.6 - 3% (0.2) 8.3 8.1 Amortization of intangibles - 89% (40.8) 45.9 - 5.1 - 5.1 Restructuring/Merger exp. 660% 78.5 11.9 - 2% (1.5) 91.9 90.4 Pretax, Preprov. Net Rev. - 56% (11.4) 20.3 81% 4.0 4.9 8.9 Provision for credit losses - 1070% 89.9 (8.4) - 6% (5.5) 87.0 81.5 Pretax income - 583% 24.5 (4.2) - 10% (2.3) 22.6 20.3 Provision for taxes - 1557% $ 65.4 $ (4.2) - 5% $ (3.2) $ 64.4 $ 61.2 Net Income - 1560% $ 0.78 $ (0.05) - 5% $ (0.04) $ 0.77 $ 0.73 EPS - 4% (3,835) 87,833 0% 58 83,939 83,998 Avg diluted shares (000s) 1.22% - 0.11% - 0.06% 1.17% 1.11% Return on Assets 13.29% - 1.27% - 0.82% 12.84% 12.02% Return on Tangible Equity 0.23% 3.62% 0.04% 3.81% 3.85% Net Interest Margin - 3.01% 56.55% - 0.72% 54.26% 53.54% Core Efficiency Ratio* * Core efficiency ratio excludes amortization of identified intangible assets. Linked Quarter (LQ) Year over Year (YoY)

Operating Earnings – GAAP versus non - GAAP Amounts as presented may differ slightly from the Company’s Earnings Release due to rounding to foot schedules presented. 6 Operating earnings of $0.77 excludes restructuring related charges and net gain on sale of three buildings. Calculated using an estimated core tax rate of 24.9%. Operating Non - Core GAAP $m, except per share amts $ 197.1 $ 197.1 $ - Net interest income 25.5 25.5 - Noninterest income - 0.5 (0.5) Gain/(Loss) - Other 222.6 223.1 (0.5) Total Revenue 119.5 119.5 - Noninterest expense - 5.1 (5.1) Restructuring/Merger exp. 8.1 8.1 - Amortization of intangibles 95.0 4.6 90.4 Pretax, Preprov. Net Rev. 8.9 8.9 - Provision for credit losses 86.1 4.6 81.5 Pretax income 21.4 1.1 20.3 Provision for taxes $ 64.7 $ 3.5 $ 61.2 Net Income $ 0.77 EPS $ 0.73 $ 0.04 83,998 Avg diluted shares (000s) 83,998 83,998 1.17% 1.11% Return on Assets 12.69% 12.02% Return on Tangible Equity 3.85% 3.85% Net Interest Margin 3Q26

Margin – Yields and Costs Yield Interest Avg Bal $ millions 6.13% $ 271.3 $ 17,715 Loans 4.23% 29.3 2,771 Investments & earning cash 5.87% $ 300.6 $ 20,486 Interest Earning Assets 2.51% $ 91.6 14,498 Interest bearing deposits 5.01% 10.2 797 Borrowings 2.64% $ 101.8 $ 15,295 Interest Bearing Liabilities 3.23% Net interest spread Yield Interest Avg Bal 5.99% $ 266.6 $ 17,807 4.24% 28.7 2,707 5.76% $ 295.3 $ 20,514 2.49% $ 89.0 14,342 4.55% 11.5 997 2.63% 3.13% $ 100.5 $ 15,339 Yield Interest Avg Bal 0.14% $ 4.7 $ (92) - 0.01% 0.6 64 0.11% $ 5.3 $ (28) 0.02% $ 2.6 $ 156 0.46% (1.3) (200) 0.01% 0.10% $ 1.3 $ (44) Purchase Accounting* Yield Interest 0.24% $ 10.7 0.66% 4.6 0.30% $ 15.3 0.01% $ 0.5 0.15% 0.3 0.02% 0.28% $ 0.8 3Q26 Prior Quarter LQΔ Net interest income, TEB / Margin $ 198.8 3.85% $ 194.8 3.81% $ 4.0 0.04% $ 14.5 0.28% - $ 14.5 * quarterly accretion / amortization of interest rate marks. LESS: Tax Equivalent Basis (TEB) Adj. 1.7 Net Interest Income $ 197.1 1.6 0.1 193.2 $ 3.9 $ YoY Chg LQ Chg 9/30/2026 6/30/2026 3/31/2026 12/31/2025 9/30/2025 Rate Environment - 0.25% 0.25% 4.00% 3.75% 3.75% 3.75% 4.25% Fed Funds (upper) - 0.34% 0.22% 3.90% 3.68% 3.68% 3.87% 4.24% SOFR 1.28% 0.74% 4.88% 4.14% 3.79% 3.47% 3.60% 2Y Treasury 1.35% 0.90% 5.09% 4.19% 3.92% 3.73% 3.74% 5Y Treasury 1.13% 0.85% 5.29% 4.44% 4.30% 4.18% 4.16% 10Y Treasury 7

Summary Balance Sheet 8 On the balance sheet, total assets decreased $375 million to $21.9 billion, driven by a decrease in cash and cash equivalents relating to a decline in payroll deposits due to the timing of payroll activity relative to quarter - end. Deposits decreased $ 303 million primarily driven by timing of payroll deposits . %Δ Δ 3Q25 Δ 2Q26 3Q26 $m, except per share amts - 4% $ (653) $ 18,305 $ (170) $ 17,822 $ 17,652 Gross Loans, investment - 8% 21 (254) 5 (238) (233) Allowance for loan losses - 4% (632) 18,051 (165) 17,584 17,419 Net Loans 13% 218 1,739 196 1,761 1,957 Securities - 37% (450) 1,221 (445) 1,216 771 Cash & equivalents - 5% (29) 551 (8) 530 522 Intangibles - 8% (98) 1,305 47 1,160 1,207 Other assets & Loans, HFS - 4% $ (991) $ 22,867 $ (375) $ 22,251 $ 21,876 Loans declined $170 million driven by commercial real - 4% $ (721) $ 18,904 $ (303) $ 18,486 $ 18,183 estate, consumer and equipment financing loans. - 28% 0% (306) - 1,081 14 (114) 1 889 13 775 14 Total Assets Deposits Borrowings Reserve for unfunded loans - 6% (23) 407 61 323 384 Other Liabilities - 5% (1,050) 20,406 (355) 19,711 19,356 Total Liabilities 2% 59 2,461 (20) 2,540 2,520 Stockholders' Equity - 4% $ (991) $ 22,867 $ (375) $ 22,251 $ 21,876 Total Liabilities & Equity 5% $ 1.06 $ 22.75 $ (0.17) $ 23.98 $ 23.81 TBV per share 0% (26) 83,909 67 83,816 83,883 Actual shares outstanding (000) 0.79% 8.56% 0.10% 9.25% 9.35% Tang. Equity / Tang. Assets 0.25% 96.83% 0.67% 96.41% 97.08% Loans / Deposits - 0.07% 1.39% - 0.02% 1.34% 1.32% ALLL / Gross Loans Linked Quarter (LQ) Year over Year (YoY) Amounts as presented may differ slightly from the Company’s Earnings Release due to rounding to foot schedules presented.

Loans and Deposits 55% 17% 6% 22% Loans Consumer 21% 9% 17% 24% 22% 5% CRE C&I Equipment Deposits 2% NOW CDs Savings Payroll DDA MM Brokered $ millions 3Q26 2Q26 Δ $ 9,710 3,050 1,001 3,891 $ 9,885 2,950 1,031 3,956 $ (175) 100 (30) (65) CRE Commercial Equipment Finance Consumer Total Loans $ 17,652 $ 17,822 $ (170) Demand deposits NOW Savings Money market CDs Payroll deposits Brokered deposits Total Deposits $ 3,888 1,570 3,045 4,351 4,069 885 375 $ 3,911 $ 1,570 3,035 4,462 4,065 1,212 231 (23) - 10 (111) 4 (327) 144 $ 18,183 $ 18,486 $ (303) Customer deposits* $ 16,923 *Excludes Payroll and Brokered deposits $ 17,042 $ (119) Linked Quarter (LQ) LOANS DEPOSITS 9

Capital Strength 10 preliminary estimates* Capital in Excess of "Well Capitalized" Beacon Board Policy Limits Regulatory BASEL III Requirements Regulatory Capital Buffer $ Regulatory Capital Buffer % Operating Targets Policy Minimums "Well Capitalized" Minimum Sep - 26 $ millions $ 963.0 5.3% ≥ 8.0% ≥ 7.5% ≥ 6.5% ≥ 4.5% 11.8% Tier 1 Common / RWA $ 722.9 4.0% ≥ 9.5% ≥ 9.0% ≥ 8.0% ≥ 6.0% 12.0% Tier 1 / RWA $ 832.3 4.6% ≥ 11.5% ≥ 11.0% ≥ 10.0% ≥ 8.0% 14.6% Total Risk Based Capital $ 1,081.8 5.0% ≥ 6.5% ≥ 6.0% ≥ 5.0% ≥ 5.0% 10.0% Leverage Ratio * Regulatory capital ratios are preliminary estimates and may differ from numbers calculated in final Regulatory filings. $0.3225 Quarterly Dividend Per Share 44% payout based on 3Q’26 EPS 4.6% Current Dividend Yield** ** Based on annual dividend of $1.29 and stock price of $27.99 (close 09/30/26) 295% ICRE / Total RBC The Board of Directors announced a dividend of $0.3225 per share payable November 20, 2026 to stockholders of record on November 6, 2026. 16% Construction / Total RBC

First Look: Our priorities for 2027 and beyond Balance sheet Increase C&I and owner - occupied CRE. Grow deposits and reduce wholesale funding. Fee revenue Grow fees from 11% of revenue to the mid - teens with a focus on cash management, wealth management and payments. Expense management Significantly improve on the efficiency ratio and lower the nominal dollar expense run rate. Capital management Prioritize organic growth and the dividend. Repurchase authorization raised to $125M , with a goal of reducing share count over time. Focus on team lift - outs, with no whole - bank acquisitions. Credit Maintain proactive credit management. Approximately half the portfolio was credit marked at close. Modestly lower reserves to loans over time. Technology Bring the branch to clients through digital channels. Use AI responsibly for operational efficiency and workforce enablement. People Target top - quartile employee and client retention. Leverage top client facing talent to scale proven businesses. A mid - teens ROTCE target, supported by scale and management controllable levers 11

APPENDIX NYSE: BBT 12

Non Performing Assets and Net Charge - Offs 13 The increase in CRE non performing loans was driven by two loans in the Office and Industrial segments . The $13.5 million in net charge - offs were primarily driven by the restructuring of a large ABL transaction as well as smaller dollar charge - offs in the commercial portfolios. Year (YoY) Year over Linked Quarter (LQ) Δ 3Q25 Δ 3Q26 2Q26 Non Performing Assets (NPAs), in millions $ 52.4 $ 33.7 $ 9.0 $ 86.1 $ 77.1 CRE 9.5 55.8 (1.1) 66.4 65.3 C&I 0.1 9.1 - 9.2 9.2 Consumer 62.0 98.6 7.9 152.7 160.6 Total Non Performing Loans (NPLs) (0.7) 0.8 0.1 0.1 - Other real estate owned (0.1) 2.5 2.4 2.4 - Other repossessed assets $ 61.2 $ 101.9 $ 7.9 $ 155.2 $ 163.1 Total NPAs 0.37% 0.54% 0.05% 0.86% 0.91% NPLs / Total Loans 0.30% 0.45% 0.05% 0.70% 0.75% NPAs / Total Assets Net Charge - Offs (NCOs), in millions $ 2.6 $ 0.8 $ (4.0) $ 7.4 $ 3.4 CRE loans (5.0) 15.1 3.2 6.9 10.1 C&I loans 0.1 (0.1) - - Consumer loans - $ (2.4) $ 15.9 $ (0.8) $ 14.3 Total Net Charge - Offs $ 13.5 - 0.21% 0.51% - 0.02% 0.32% 0.30% NCOs / Avg. Loans (annualized) Amounts as presented may differ slightly from the Company’s Earnings Release due to rounding to foot schedules presented.

$7,806 $3,695 $2,260 $3,891 Investment CRE 44% Commercial Core 21% Specialty Lending 13% Retail 22% Perm Constr Total % Naics Total % Vertical Total % Call Code Total % 79% $ 3,072 Resi 1st Mtg 41% $ 921 EF Core 16% $ 587 Food & Lodging 31% $ 2,414 $ 223 $ 2,191 Multifamily 1% 25 Resi Jr Mtg 35% 799 ABL 16% 577 RE, Rental, Leasing 17% 1,322 9 1,313 Retail 17% 668 Resi Heloc 13% 292 44BC 10% 375 Manufacturing 14% 1,133 25 1,108 Industrial Consumer 126 3% 5% 124 EF Vehicle 9% 332 Retail 13% 1,021 29 992 Office 100% $ 3,891 Total 5% 116 EF Macrolease 9% 332 Health and Social 7% 521 4 517 Hospitality Firestone 8 1% 7% 271 Finance and Insurance 6% 452 24 428 Healthcare Total $ 2,260 100% 6% 217 Arts & Entertainment 2% 198 15 183 Lab 6% 210 Education 2% 136 2 134 Restaurant 5% 206 Wholesale Trade 8% 609 114 495 All Other 5% 185 Other Services 100% $ 7,806 $ 445 $ 7,361 Total 4% 132 Construction All Other 271 7% Total $ 3,695 100% Total Loans Outstanding: $ 17,652 Owner Occupied CRE included in Commercial and Equipment Finance Balances shown are loan book balances, net of acquisition marks. Major Loan Segments with Industry Breakdown 3Q26 $37MM in 3Q26 run - off for EF Vehicle, EF Macrolease, and Firestone which have discontinued new originations. 14

3Q26 Non - Owner Occupied CRE and Multifamily Exposures at September 30, 2026 38% 51% 8% 3% 15 Investment CRE Loan to Value (LTV)

5% 14% 18% Investment CRE by Maturity 3Q26 Non - Owner Occupied CRE and Multifamily Exposures at September 30, 2026 13% 50% 16

● Office CRE portfolio totals ~$1.1B or 6.4% of Total Loans. ● Continue to manage the risk of the portfolio with NPLs of ~3.0% and NCOs of ~$1.1MM in 3Q26. ● No meaningful exposure to any major metropolitan areas other than Boston, which represents ~14% of the portfolio. ● Majority of portfolio (~51%) is Class B Office space. ● Weighted Average Loan - to - Value is ~56%. ● Weighted Average Debt Service Coverage is ~1.6x. ● Top 20 loans are ~40% of the total CRE Office portfolio. Office Portfolio & Asset Quality Office Portfolio Metrics Suburban, 68% Urban, 26% Rural, 6% 2026, 9% 2027, 15% 2028, 12% 2029 & After, 64% Maturity Schedule ~98% of portfolio is within footprint and 68% is Suburban Majority of portfolio (~76%) matures after 2027 Office Portfolio, includes Construction 3Q26 3Q26 Portfolio Criticized Non - Accrual ($ in millions) $ Avg Size $ $ $ 12.1 $ 91.3 $ 7.9 $ 464.7 Class A $ 20.9 $ 100.7 $ 1.6 $ 574.8 Class B $ 0.8 $ 0.9 $ 2.2 $ 84.9 Class C $ 33.8 $ 192.9 $ 2.5 $ 1,124.4 3Q26 2Q26 ($ in millions) $ % $ % 3% $ 30.4 3% $ 28.7 CRE Office: Construction 9% $ 103.4 9% $ 104.2 CRE Office: Owner Occupied 88% $1,035.0 88% $ 991.5 CRE Office: Non - Owner Occupied 100% $1,168.8 100% $1,124.4 Total CRE Office 17

● Majority of repricing risk is centered within the Fixed to Floating repricing schedule . Potential refinance risk may be experienced at maturity . ● $2.7B of the $7.4B portfolio will mature or reprice within 24 months. ● Well balanced maturity / repricing profile and rate type profile. ● 4Q 2026 maturities or reprices represents $355MM of maturities, and $120MM in repricing; of which ~12% are Criticized. The majority of which are non - owner Office, Lab, and Multifamily credit relationships. Rate Type Fixed, 33% Fixed via Swap, 29% Floating, 19% Fixed to Floating, 19% 4Q26 - 2027, 21% 2028, 19% 2029, 16% 2030 & After, 44% Maturity / Repricing Investment CRE Maturity and Repricing excludes Construction 3Q26 18

Securities Portfolio 3Q26 UST 23% 19 Agency 16% Corp 1% MBS 16% CMO 34% Municipals 10% Duration Book Yield Unreal. G/L Fair Value Book Value Current Par $ in millions 2.5 3.08% $ (22) $ 455 $ 477 $ 480 U.S. Treasuries 3.2 3.44% (20) 309 329 326 Agency Debentures 0.6 6.90% 0 20 20 21 Corp Bonds 5.2 3.88% (26) 305 332 365 Agency MBS 5.3 4.39% (41) 669 710 791 Agency CMO 7.5 5.40% (13) 198 212 235 Municipals/Other 4.5 3.98% $ (123) $ 1,957 $ 2,080 $ 2,218 Total Highly liquid, risk averse securities portfolio with prudent duration and minimal extension risk. The entire investment portfolio is classified as Available for Sale. The after tax, mark to market on the portfolio is included in Accumulated Other Comprehensive Income in Stockholders’ Equity.

Interest Rate Risk 3Q26 Float (< 3 m) 64 % Adj. 12% Fixed 24% Loan Originations, $1.04 billion, 6.40% coupon Total Loan Portfolio Mix – Duration 1.5 - 0.15% - 0.47% - 0.74% - 1.01% 0.23% 0.70% 1.01% 1.18% 0.33% 0.92% 1.40% 1.82% Cumulative Net Interest Income Change by Quarter 9/30/2026 Flat Balance Sheet , simulations reflect a product weighted beta of ~60% on total interest bearing deposits. Excludes impact of purchase accounting. - 100bps Ramp Forward - Implied Rates +200bps Ramp Float (< 3 m) 41 % 20 Adj. 24% Fixed 35% 1Q27 2Q27 3Q27 4Q26 Accretion related to loan purchase accounting is held constant in each scenario. The impact of changes in loan prepayments on accretion is not reflected at this time. Amounts as presented may differ slightly from the Company’s Earnings Release due to rounding to foot schedules presented.

Wealth Management %Δ Δ 2Q26 3Q26 $ thousands 3% $ 108 $ 4,177 $ 4,285 Asset based revenue 4% 18 416 434 Other revenue: Insurance commission revenue 3% 126 $ 4,593 $ 4,719 Total reported revenue Linked Quarter (LQ) $3,352 21 $3,347 $3,338 $3,413 $3,406 3Q 2025 4Q 2025 1Q 2026 2Q 2026 3Q 2026 $ in Millions Assets Under Management

NYSE: BBT 22

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Oct. 21, 2026

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Oct. 21, 2026

Entity File Number

001-15781

Entity Registrant Name

BEACON FINANCIAL CORPORATION

Entity Central Index Key

0001108134

Entity Tax Identification Number

04-3510455

Entity Incorporation, State or Country Code

DE

Entity Address, Address Line One

131 Clarendon Street

Entity Address, City or Town

Boston

Entity Address, State or Province

MA

Entity Address, Postal Zip Code

02116

City Area Code

617

Local Phone Number

425-4600

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NYSE

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