Beacon Financial Corporation Announces Fourth Quarter Results

Core Insights - Beacon Financial Corporation reported a net income of $53.4 million for Q4 2025, translating to an earnings per share (EPS) of $0.64 [2][3] - For the full year 2025, the company achieved a net income of $90.3 million, or $1.03 per share, with operating earnings after tax (non-GAAP) amounting to $142.3 million, or $1.63 per basic share [3][4] Financial Performance - The net interest income for Q4 2025 increased by $70.9 million to $199.7 million compared to $128.9 million in Q3 2025, with a net interest margin of 3.82% [12][13] - Total non-interest income rose by $13.6 million to $25.9 million in Q4 2025, reflecting three months of combined results from the merger [14] - The provision for credit losses was recorded at $8.1 million for Q4 2025, a decrease from $20.3 million in Q3 2025, indicating improved credit performance [15][16] Balance Sheet Highlights - Total assets increased by $352.9 million to $23.2 billion as of December 31, 2025, primarily due to assets acquired in the merger [6] - Total loans and leases decreased by $275.8 million from Q3 2025 to $18.0 billion, while increasing by $8.3 billion from December 31, 2024, due to the merger [7] - Total deposits rose by $610.6 million to $19.5 billion from Q3 2025, with a significant increase attributed to payroll deposits [9] Asset Quality - The ratio of nonperforming loans and leases to total loans and leases was 0.63% as of December 31, 2025, up from 0.54% in Q3 2025 [18] - Total nonperforming assets increased to $116.7 million, representing 0.50% of total assets [18][37] Capital Ratios - The ratio of stockholders' equity to total assets was 10.75% as of December 31, 2025, slightly down from 10.76% in Q3 2025 [11][37] - Tangible book value per common share (non-GAAP) increased to $23.32, up from $22.75 in Q3 2025 [11] Dividend Declaration - The Board of Directors declared a dividend of $0.3225 per share for the quarter ended December 31, 2025, to be paid on February 27, 2026 [25]