Beacon Financial Corporation Announces Third Quarter Results and Merger Completion

Beacon Financial Corporation reported a net loss of $56.3 million for the third quarter of 2025, primarily due to one-time costs associated with the merger of equals between Berkshire Hills Bancorp, Inc. and Brookline Bancorp, Inc. The merger, completed on September 1, 2025, resulted in pre-tax one-time costs of $129.8 million, including $51.9 million in merger-related expenses and a $77.9 million increase in the provision for credit losses. Excluding these one-time costs, operating earnings were $38.5 million, or $0.44 per diluted share. The company also announced a quarterly dividend of $0.3225 per share, payable on November 24, 2025. Total assets increased to $22.8 billion, driven by the merger. The company highlighted improved operating performance and a strong balance sheet, with a loan-to-deposit ratio of 96% and a tangible common equity ratio of 8.4%.