Every material Form 8-K Beacon Financial filed with the SEC in 2026, read and summarized by AI: what happened, the key figures, whether it reads positive or negative for shareholders, and how big a deal it is (impact 1-5). Newest first; each brief links to its own page and to the filing on SEC.gov.
Beacon Financial Corporation entered into an employment agreement with Sean A. Gray, effective September 21, 2026, tied to his previously announced appointment as President and Chief Executive Officer of the Company and Beacon Bank & Trust. The filing sets his $1,000,000 base salary, a bonus target of 75% of base salary, and severance terms that increase if a termination follows a change in control.
Base salary of $1,000,000; annual bonus target of 75% of base salary
Annual equity awards with grant date fair value of 105% of base salary, plus a one-time restricted stock award of $275,000 vesting in three equal tranches
Severance on termination without cause or for good reason: two times base salary plus target bonus, rising to three times if within 24 months after a change in control
Beacon Financial reported third-quarter 2026 net income of $61.2 million, or $0.73 per share, down from $64.4 million, or $0.77 per share, in the second quarter, but up from a net loss of $(4.2) million in the third quarter of 2025. The board raised the stock buyback authorization to $125 million, subject to regulatory approval, and approved a $0.3225 quarterly dividend.
Operating earnings after tax (non-GAAP) were $64.7 million, or $0.77 per share, versus $64.4 million, or $0.77 per share, in Q2 2026.
Net interest income rose $3.9 million to $197.2 million, and net interest margin rose 4 basis points to 3.85 percent.
The provision for credit losses was $8.9 million, and merger and restructuring expense was $5.1 million; nonperforming assets rose $7.9 million to $163.1 million.
Buyback authorization increased to $125 million; the $0.3225 dividend is payable November 20, 2026, to holders of record on November 6, 2026.
Beacon Financial Corporation said its President and Chief Executive Officer, Paul A. Perrault, is retiring effective September 21, 2026, and Sean A. Gray, its Chief Operating Officer, is taking over as President and CEO and joining the boards of the Company and Beacon Bank & Trust. The filing describes a twelve-month consulting arrangement with Mr. Perrault, including a $120,000 monthly consulting fee, and the filing does not report any financial results for the period.
Paul A. Perrault retires as President and CEO and resigns from both boards effective September 21, 2026.
Sean A. Gray, age 50, becomes President and CEO and joins the boards; he previously served as Chief Operating Officer since 2025.
Mr. Perrault's consulting agreement runs for twelve months at $120,000 per month and includes payment of his 2026 annual bonus based on actual performance.
Beacon Financial Corporation completed the sale of $175 million of 6.25% fixed-to-floating rate subordinated notes due September 1, 2036, on August 20, 2026. The company estimates net proceeds of about $171.8 million, which it plans to use with cash on hand, if needed, to redeem its $75 million 6.0% notes due 2029 and for general corporate purposes, so the transaction changes the company's debt mix rather than its operating results.
$175 million of subordinated notes issued August 20, 2026, maturing September 1, 2036
Fixed 6.25% interest until September 1, 2031, then resets quarterly to Three-Month Term SOFR plus 2.15%
Estimated net proceeds of approximately $171.8 million
$75 million 6.0% notes due 2029 to be redeemed in full on September 15, 2026, at 100% of principal plus accrued interest
Beacon Financial Corporation's General Counsel and Corporate Secretary, Wm. Gordon Prescott, retired effective July 31, 2026, and John B. Eagan took over the role effective August 1, 2026. The company also adopted a Good Leaver Policy on July 29, 2026, setting how equity awards may continue vesting for eligible employees who retire. The filing describes a routine leadership succession with no financial results disclosed.
Wm. Gordon Prescott retired as General Counsel and Corporate Secretary effective July 31, 2026, after more than 18 years of service.
John B. Eagan, previously Deputy General Counsel and Assistant Secretary, became General Counsel and Corporate Secretary effective August 1, 2026.
The Board adopted the Good Leaver Policy on July 29, 2026, covering Management Committee members and other selected key employees.
Retirement under the policy requires age plus years of service of at least 65, and at least 5 years of continuous service, subject to Committee discretion.
Beacon Financial Corporation reported second-quarter 2026 net income of $64.4 million, or $0.77 per share, up from $46.2 million ($0.55) in the first quarter and $22.0 million ($0.25) a year earlier. The company also declared a regular quarterly dividend of $0.3225 per share, and the filing notes that prior-period comparisons are limited because the Brookline merger was accounted for as a reverse acquisition.
Net income of $64.4 million ($0.77 per diluted share) for the quarter ended June 30, 2026, versus $46.2 million ($0.55) in Q1 2026 and $22.0 million ($0.25) in Q2 2025.
Net interest margin rose to 3.81% from 3.78%, and non-interest expense fell to $127.3 million from $140.8 million, which included $13.0 million of merger and restructuring expense in Q1 2026.
Net loan and lease charge-offs were $14.3 million (0.32% annualized), up from $13.6 million in Q1; nonperforming assets rose to $155.2 million from $151.2 million.
Quarterly dividend of $0.3225 per share, payable August 28, 2026 to stockholders of record on August 14, 2026.
Beacon Financial reported first-quarter 2026 net income of $46.2 million, or $0.55 per share, down from $53.4 million, or $0.64 per share, in the fourth quarter of 2025 but up from $19.1 million in the first quarter of 2025. The company said results reflect the merger with Brookline Bancorp and that they may not be directly comparable with prior periods; its board also approved a $0.3225 quarterly dividend and a $50 million stock buyback, subject to regulatory approval.
Net interest income fell to $190.8 million from $199.7 million in the fourth quarter of 2025; net interest margin was 3.78%, down from 3.82%.
Nonperforming assets rose to $151.2 million from $116.7 million at December 31, 2025, largely from a $17.5 million Boston office property and $8.9 million in two New York City multi-family properties.
Quarterly dividend of $0.3225 per share is payable May 29, 2026 to stockholders of record on May 15, 2026.
Management will hold a conference call at 1:30 PM Eastern Time on April 30, 2026.
Beacon Financial reported fourth-quarter 2025 net income of $53.4 million, or $0.64 per share, compared with a net loss of $4.2 million in the third quarter, and its board approved a quarterly dividend of $0.3225 per share. The filing says the quarter included three months of combined results from the September 2025 merger with Brookline Bancorp versus one month in the prior quarter, so results may not be directly comparable to prior periods. For shareholders, the quarter shows a return to profit and a dividend more than double the $0.135 paid a year earlier, while full-year 2025 merger-related charges totaled $70.1 million.
Q4 2025 net income was $53.4 million, or $0.64 per share, versus a net loss of $4.2 million, or $0.05 per share, in Q3 2025.
Q4 2025 operating earnings (non-GAAP) were $66.4 million, or $0.79 per share.
Full-year 2025 net income was $90.3 million, or $1.03 per share, including $70.1 million of merger-related charges.
Quarterly dividend of $0.3225 per share is payable February 27, 2026, to holders of record on February 13, 2026.
Briefs are written by AI from the filing text (each brief's own page names the model) and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the model's reading of the filing for shareholders, not a price forecast. Not investment advice.
Only material 8-Ks get a brief: results, deals, executive changes, restructuring, impairments, delisting notices, restatements, cybersecurity incidents and other disclosed events. Routine filings (vote results, exhibits only) are skipped. Every Beacon Financial filing is on SEC EDGAR ↗. 8-K briefs of other companies →