Short answer
Beacon Financial Corp (BBT) filed its fiscal 2025 10-K annual report with the SEC on Mar 2, 2026. It reported revenue of $30M (−30.7% year over year) and net income of $90M.
- Top risk flagged: Regulatory risk: SBA 7(a) lending program dependency on U.S. federal government funding and guarantees subject to congressional and government shutdown risks
FY2025 key financial metrics · XBRL
- Revenue
- $30M
- −30.7% YoY
- Net income
- $90M
- +48.0% YoY
- EPS (diluted)
- $1.03
- −28.0% YoY
- ROE
- 3.6%
- −1.6 pp YoY
- Operating cash flow
- $224M
- +79.3% YoY
Source: XBRL data from the Beacon Financial Corp (BBT) FY2025 10-K on SEC EDGAR. USD.
Beacon Financial Corp FY2025 10-K analysis
AI summary of each section, grounded in the filing text
Business Overview
- Core business model: Full-service financial holding company offering commercial, retail, and wealth management banking services
- Completed merger of equals with Brookline Bancorp in September 2025; renamed to Beacon Financial Corporation, ticker changed to BBT
- Loan and lease portfolio surged 84.4% to $18.0 billion, with commercial loans up 69.8% to $14.0 billion post-merger
- Total deposits more than doubled, up 119.2% to $19.5 billion; core deposits rose 112.6% to $13.1 billion after the Transaction
- Net interest income grew 52.6% to $503.1 million with net interest margin rising 50 bps to 3.56%, driving a 31.4% net income increase to $90.3 million
Management Discussion & Analysis
- Revenue impact from Transaction: total assets up $11.3B (95.0%) to $23.2B; total loans and leases up $8.3B (84.4%) to $18.0B; deposits up $10.6B (119.2%) to $19.5B
- Net income $90.3M, up 31.4% YoY from $68.7M; net interest margin 3.56% vs 3.06%; operating earnings $142.3M vs $72.4M; operating EPS $1.62 vs $0.81
- Best performing segment: consumer loans up $2.5B (161.5%); worst: equipment financing down 10.2%
- Non-interest expense up $147.9M to $389.7M due to merger costs; dividends paid $63.1M, payout ratio 69.92%; no explicit capex or buyback figures disclosed
- Forward outlook: net interest margin expected to increase modestly if yield curve normalizes; risks from rate volatility and deposit mix shifts noted; emphasis on maintaining net interest income and credit risk management
Risk Factors
- Regulatory risk: SBA 7(a) lending program dependency on U.S. federal government funding and guarantees subject to congressional and government shutdown risks
- Macroeconomic risk: 77.4% of loans are commercial real estate/commercial loans, vulnerable to local economic downturns and real estate value declines
- Operational risk: $855.6 million in loan participations with limited monitoring control, increasing exposure to credit losses from lead lenders
- Competitive risk: Rising fintech competition using AI and quantum computing could disrupt Beacon's products and services if innovation lags
- Financial risk: Liquidity dependent on FHLB funding access, with potential impairment of FHLB stock investment affecting financial condition
Generated from the filing text; verify against the original. How to read a 10-K
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