Beacon Financial Corp (BBT) Form 424B5 — Aug 19, 2026
Beacon Financial Corporation priced a $175 million offering of 6.25% fixed-to-floating rate subordinated notes due 2036, a takedown off its Form S-3 shelf. The notes pay 6.25% semiannually through September 1, 2031, then float at Three-Month Term SOFR plus 215 basis points, and are callable at par beginning September 1, 2031. Net proceeds of roughly $171.8 million will repay $75 million of outstanding floating-rate 2029 Notes — a redemption already noticed for September 15, 2026 and not contingent on this offering — with the remainder for general corporate purposes.
Key figures
- Debt Amount
- 175000000
- Total Assets
- $22.25 billion (as of June 30, 2026)
- Interest Rate
- 6.25% fixed until September 1, 2031, then Three-Month Term SOFR + 215 basis points (floored at zero Benchmark)
- Maturity Date
- September 1, 2036
- Gross Proceeds
- 175000000
- Shares Outstanding
- 89576403
- Settlement
- T+3, on or about August 20, 2026
- Net Proceeds
- $171.8 million (estimated)
- Denomination
- $1,000 and integral multiples of $1,000
- First Call Date
- September 1, 2031
- Total Deposits
- $18.49 billion (as of June 30, 2026)
- Redemption Price
- 100% of principal plus accrued and unpaid interest
- Tier1 Leverage Ratio
- 9.80% actual to 9.76% as adjusted
- Total Borrowed Funds
- $888.6 million actual to $987.9 million as adjusted
- Repayment Of2029 Notes
- $75 million principal, redemption effective September 15, 2026
- Underwriting Discount
- 1.25% ($2,187,500)
- Common Equity Tier1 Ratio
- 11.57% (unchanged)
- Proceeds Before Expenses
- 172812500
- Total Stockholders Equity
- $2.54 billion (as of June 30, 2026)
- Regulatory Capital Treatment
- Intended to qualify as Tier 2 capital under Federal Reserve rules
- Total Risk Based Capital Ratio
- 13.61% actual to 14.32% as adjusted (June 30, 2026)
Price after filing
Close on the filing date to close N calendar days later (from $31.94). Historical, not a forecast.
AI analysis
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