Beacon Financial Corporation Announces Third Quarter Results
Beacon Financial reported Q3 2026 net income of $61.2 million ($0.73 per share) and non-GAAP operating earnings of $64.7 million ($0.77 per share), flat versus Q2 but roughly double the $34.0 million operating earnings a year ago. Net interest income rose to $197.2 million with NIM expanding 4 bps to 3.85%, though the provision for credit losses climbed to $8.9 million on three deteriorating CRE loans and nonperforming assets rose to $163.1 million (0.75% of assets). The board increased the buyback authorization to $125 million (subject to regulatory approval) and declared a $0.3225 dividend, with new CEO Sean Gray citing expense discipline and stronger capital returns as priorities.
Key figures
- Eps
- 0.73
- Npa ratio
- 0.75%
- Net income
- $61.2 million
- Total assets
- $21.9 billion
- Operating eps
- $0.77
- Total deposits
- $18.2 billion
- Net charge offs
- $13.5 million
- Dividend per share
- $0.3225
- Operating earnings
- $64.7 million
- Net interest income
- $197.2 million
- Net interest margin
- 3.85%
- Nonperforming assets
- $163.1 million
- Buyback authorization
- $125 million
- Provision for credit losses
- $8.9 million
- Tangible book value per share
- $23.81
AI analysis
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