Beacon Financial Corp 2025年季度报告

FORM10-Q (Mark One) ☒QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934For the quarterly period endedSeptember30, 2025 OR☐TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934For the transition period fromN/Ato.Commission file number001-15781 BEACON FINANCIAL CORPORATION (Exact name of registrant as specified in its charter) (617)425-4600(Registrant’s telephone number, including area code) Securities registered pursuant to Section 12(b) of the Act: Indicate by check mark whether the registrant (1)has filed all reports required to be filed by Section13 or 15(d)of the Securities ExchangeAct of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports) and (2)has beensubject to such filing requirements for the past 90 days.Yes☒No☐ Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant toRule405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant wasrequired to submit such files).Yes☒No☐ Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reportingcompany, or an emerging growth company. See the definitions of "large accelerated filer," "accelerated filer," "smaller reporting company,"and "emerging growth company" in Rule 12-b-2 of the Exchange Act. Large accelerated filer☒Non-accelerated filer☐ Accelerated filer☐Smaller Reporting Company☐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 complyingwith any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.☐ Indicate by check mark whether the registrant is a shell company (as defined in Rule12b-2 of the Exchange Act).Yes☐No☒At October 31, 2025, the number of shares of common stock, par value $0.01 per share, outstanding was83,908,861. BEACON FINANCIAL CORPORATION AND SUBSIDIARIESFORM 10-Q Table of Contents PageGlossary of Acronyms and TermsiiPart IFinancial InformationItem1.Unaudited Consolidated Financial StatementsUnaudited Consolidated Balance Sheets at September 30, 2025 and December31,20241Unaudited Consolidated Statements of Income for the Three Months and Nine months Ended September 30, 2025and 20243Unaudited Consolidated Statements of Comprehensive Income for the Three Months and Nine Months EndedSeptember 30, 2025 and 20244Unaudited Consolidated Statements of Changes in Equity for the Three Months and Nine Months Ended September30, 2025 and 20245Unaudited Consolidated Statements of Cash Flows for the Nine Months Ended September 30, 2025 and 20247Notes to Unaudited Consolidated Financial Statements9Item 2.Management’s Discussion and Analysis of Financial Condition and Results of Operations57Item3.Quantitative and Qualitative Disclosures About Market Risk93Item4.Controls and Procedures95Part IIOther InformationItem 1.Legal Proceedings96Item 1A.Risk Factors96Item 2.Unregistered Sales of Equity Securities and Use of Proceeds96Item 3.Defaults Upon Senior Securities96Item 4.Mine Safety Disclosures96Item 5.Other Information96Item 6.Exhibits96Signatures99 Glossary of Acronyms and Terms Brookline Bancorp, Inc. 2021 Stock Option and Incentive PlanBeacon Financial Corporation 2025 Stock Option and Incentive PlanAllowance for Credit LossesAmerican Financial ExchangeAsset/Liability CommitteeBeacon Bank & TrustCommercial and industrialClarendon Private, LLCCollateralized mortgage obligationsChief Operating Decision MakerBeacon Financial Corporation and its subsidiariesCore deposits include total deposits excluding brokered deposits, certificate of deposits and payrolldepositsCommercial real estateCustomer deposits include total deposits excluding brokered deposits and payroll depositsEastern Funding, LLCEarnings per ShareEconomic Value of EquityFinancial Accounting Standards BoardFederal Deposit Insurance CorporationFederal Home Loan Bank of Boston and New YorkFederal Home Loan Mortgage CorporationFederal National Mortgage AssociationBoard of Governors of the Federal Reserve SystemU.S generally accepted accounting principlesGovernment National Mortgage AssociationU.S. Government-sponsored enterprisesInterbank Offered RatesLoan equivalencyMortgage-backed securitiesOther Assets Especially MentionedOther comprehensive incomeOther Real Estate OwnedThe 2021 Plan and the 2025 PlanSmall Business AdministrationU.S. Securities and Exchange Commission 2021 Plan2025 PlanACLAFXALCOBankC&IClarendon PrivateCMOsCODMCompany BEACON FINANCIAL CORPORATION AND SUBSIDIARIES Notes to Unaudited Consolidated Financial Statements (1)Basis of Presentation Overview The Company is a bank holding company (within the meaning of the Bank Holding Company Act of 1