# EDGAR Filing Document

**Accession Number:** 0001108134
**File Stem:** 0001171843-26-002833
**Filing Date:** 2026-4
**Character Count:** 83467
**Document Hash:** 917badc764336e53925b580ba601965d
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001171843-26-002833.hdr.sgml**: 20260429

**ACCESSION NUMBER**: 0001171843-26-002833

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 35

**CONFORMED PERIOD OF REPORT**: 20260429

**ITEM INFORMATION**: Results of Operations and Financial Condition

**ITEM INFORMATION**: Regulation FD Disclosure

**ITEM INFORMATION**: Financial Statements and Exhibits

**FILED AS OF DATE**: 20260429

**DATE AS OF CHANGE**: 20260429

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Beacon Financial Corp
- **CENTRAL INDEX KEY:** 0001108134
- **STANDARD INDUSTRIAL CLASSIFICATION:** SAVINGS INSTITUTIONS, NOT FEDERALLY CHARTERED [6036]
- **ORGANIZATION NAME:** 02 Finance
- **EIN:** 043510455
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-15781
- **FILM NUMBER:** 26917050

**BUSINESS ADDRESS:**
- **STREET 1:** 131 CLARENDON STREET
- **CITY:** BOSTON
- **STATE:** MA
- **ZIP:** 02116
- **BUSINESS PHONE:** 617-641-9206

**MAIL ADDRESS:**
- **STREET 1:** 131 CLARENDON STREET
- **CITY:** BOSTON
- **STATE:** MA
- **ZIP:** 02116

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** BERKSHIRE HILLS BANCORP INC
- **DATE OF NAME CHANGE:** 20000229

?xml version='1.0' encoding='ASCII'? Form 8-K

### UNITED STATES

### SECURITIES AND EXCHANGE COMMISSION

### Washington, D.C. 20549
_________________

### FORM 8-K
_________________

#### CURRENT REPORT

#### Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

#### Date of Report (Date of earliest event reported): April 29, 2026
_______________________________

#### BEACON FINANCIAL CORPORATION
(Exact name of registrant as specified in its charter)

_______________________________

---

| | | |
|:---|:---|:---|
| **Delaware** | **001-15781** | **04-3510455** |
| (State or Other Jurisdiction of Incorporation) | (Commission File Number) | (I.R.S. Employer Identification No.) |

---

#### 131 Clarendon Street

#### Boston, Massachusetts 02116
(Address of Principal Executive Offices) (Zip Code)

(617) 425-4600

(Registrant's telephone number, including area code)

#### Not applicable
(Former name or former address, if changed since last report)

_______________________________

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

---

| | | |
|:---|:---|:---|
| Title of each class | Trading Symbol(s) | Name of each exchange on which registered |
| Common Stock, par value of $0.01 per share | BBT | New York Stock Exchange |

---

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

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 complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

**Item 2.02. Results of Operations and Financial Condition.**

On April 29, 2026, the Board of Directors of Beacon Financial Corporation (the "Company") issued a press release announcing its earnings for the quarter ended March 31, 2026. Additionally, the Company announced the approval by its Board of Directors of a regular quarterly dividend of $0.3225 per share payable on May 29, 2026 to stockholders of record on May 15, 2026. A copy of that press release is attached hereto as Exhibit 99.1 and is hereby incorporated by reference herein.

**Item 7.01. Regulation FD Disclosure.**

In connection with the press release announcing the Company's first quarter earnings, the Company posted an investor presentation to its website at www.beaconfinancial.com. A copy of the investor presentation is attached hereto as Exhibit 99.2 and is hereby incorporated by reference herein.

**Item 9.01. Financial Statements and Exhibits.**

---

| | |
|:---|:---|
| [99.1](exh_991.htm) | [Press release of Beacon Financial Corporation reporting earnings and dividend approval, issued April 29, 2026](exh_991.htm) |
| [99.2](exh_992.htm) | [Investor Presentation of Beacon Financial Corporation, issued April 29, 2026](exh_992.htm) |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) |

---

#### SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

---

| | | |
|:---|:---|:---|
|  | **BEACON FINANCIAL CORPORATION** | **BEACON FINANCIAL CORPORATION** |
| Date: April 29, 2026 | By: | <u>/s/ Carl M. Carlson&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u> |
|  |  | Carl M. Carlson |
|  |  | Chief Financial & Strategy Officer |

---

## Exhibit 99.1

**EXHIBIT 99.1**

**Beacon Financial Corporation Announces First Quarter Results**

**Net Income of $46.2 million, EPS of $0.55**

**Operating Earnings of $58.4 million, Operating EPS of $0.70**

**Quarterly Dividend of $0.3225**

**Board Authorized $50 million Stock Buyback Program**

BOSTON, April 29, 2026 (GLOBE NEWSWIRE) -- Beacon Financial Corporation (NYSE: BBT) (the "Company") today announced net income of $46.2 million, or $0.55 per basic and diluted share, for the first quarter of 2026, compared to $53.4 million, or $0.64 per basic and diluted share, for the fourth quarter of 2025, and $19.1 million, or $0.21 per basic and diluted share, for the first quarter of 2025.

"The first quarter results reflect near-term pressures and the tail end of merger activity as we completed the core system conversion in February," stated Paul Perrault, the Company's President and Chief Executive Officer.

"We remain focused on capturing the full synergies of our merger and executing a strategy that positions the bank for long-term success. We anticipate those actions will translate into stronger financial performance and more robust results as we move through the year."

<u>Presentation of Results - The Merger</u>

The Company's merger of equals (the "Merger") with Brookline Bancorp, Inc. ("Brookline") was accounted for as a reverse acquisition using the acquisition method of accounting, with the Company treated as the legal acquirer and Brookline treated as the accounting acquirer for financial reporting purposes. The Company's financial results for any periods ended on or prior to June 30, 2025 reflect Brookline's results only on a standalone basis. As a result, the Company's financial results for the first quarter of 2026 may not be directly comparable to prior reported periods.

**BALANCE SHEET**

Total assets at March 31, 2026 decreased $1.0 billion to $22.2 billion from $23.2 billion at December 31, 2025, primarily driven by the reduction in cash balances due to timing fluctuations in payroll deposits. Total assets increased $10.7 billion from March 31, 2025, primarily due to the assets assumed in the Merger.

Total loans and leases decreased $105.4 million to $17.9 billion at March 31, 2026 from December 31, 2025, primarily due to a further reduction in commercial real estate and consumer loans, partially offset by increases in commercial loans, and increased $8.3 billion from March 31, 2025, primarily due to the loans and leases assumed in the Merger.

Total investment securities at March 31, 2026 increased $29.9 million to $1.7 billion from December 31, 2025 and increased $836.4 million from March 31, 2025, primarily due to investment securities assumed in the Merger.

Total cash and cash equivalents at March 31, 2026 decreased $928.8 million to $1.1 billion from December 31, 2025, primarily driven by the fluctuation within payroll deposits, and increased $755.4 million from March 31, 2025, primarily due to cash and equivalents assumed in the Merger.

Total deposits as of March 31, 2026 decreased $1.2 billion from December 31, 2025, consisting of a $264.7 million decrease in customer deposits, a $676.2 million decrease in payroll deposits, and a $281.5 million decrease in brokered deposits. The decline in customer deposits was driven largely by seasonal first quarter factors such as tax payments, with additional movement concentrated in a small number of rate-sensitive, higher-cost accounts. Core consumer and relationship-based deposits remain stable. Total deposits increased $9.4 billion from March 31, 2025, primarily due to the deposits assumed in the Merger.

Total borrowed funds at March 31, 2026 increased $284.1 million from December 31, 2025, and decreased $83.3 million from March 31, 2025.

The ratio of stockholders' equity to total assets was 11.27 percent at March 31, 2026, compared to 10.75 percent at December 31, 2025, and 10.77 percent at March 31, 2025. The ratio of tangible stockholders' equity to tangible assets (non-GAAP) was 9.07 percent at March 31, 2026, compared to 8.62 percent at December 31, 2025, and 8.73 percent at March 31, 2025. Tangible book value per common share (non-GAAP) increased $0.16 from $23.32 at December 31, 2025 to $23.48 at March 31, 2026, and increased $12.45 from $11.03 at March 31, 2025.

**NET INTEREST INCOME**

Net interest income decreased $8.9 million to $190.8 million during the first quarter of 2026 from $199.7 million for the quarter ended December 31, 2025. The net interest margin decreased 4 basis points to 3.78 percent for the three months ended March 31, 2026 from 3.82 percent for the three months ended December 31, 2025, primarily driven by lower yield on loans and leases and a reduction of interest earning assets, partially offset by lower funding costs.

**NON-INTEREST INCOME** 

Total non-interest income for the quarter ended March 31, 2026 decreased $2.0 million to $23.9 million from $25.9 million for the quarter ended December 31, 2025. The decrease was primarily driven by a $1.5 million decline in deposit fees and a $1.5 million decline in gain on sales of loans and leases, partially offset by an increase of $0.6 million in the mark to market on interest rate derivatives.

**PROVISION FOR CREDIT LOSSES**

The Company recorded a provision for credit losses of $7.9 million for the quarter ended March 31, 2026, compared to $8.1 million for the quarter ended December 31, 2025.

Total net charge-offs for the first quarter of 2026 were $13.6 million compared to $9.0 million in the fourth quarter of 2025. The $13.6 million in net charge-offs were primarily driven by resolutions to a large Boston office loan, a large equipment financing loan and several smaller SBA loans. The ratio of net loan and lease charge-offs to average loans and leases on an annualized basis increased to 30 basis points for the first quarter of 2026 from 20 basis points for the fourth quarter of 2025.

The allowance for loan and lease losses represented 1.36 percent of total loans and leases at March 31, 2026, compared to 1.40 percent at December 31, 2025, and 1.29 percent at March 31, 2025.

**ASSET QUALITY**

The ratio of nonperforming loans and leases to total loans and leases was 0.83 percent at March 31, 2026, an increase of 0.20 percent from 0.63 percent at December 31, 2025. Total nonaccrual loans and leases increased $34.5 million to $148.6 million at March 31, 2026, from $114.2 million at December 31, 2025. The ratio of nonperforming assets to total assets was 0.68 percent at March 31, 2026, an increase from 0.50 percent at December 31, 2025. Total nonperforming assets increased $34.5 million to $151.2 million at March 31, 2026 from $116.7 million at December 31, 2025. The increase in nonperforming assets was largely driven by a $17.5 million Boston office property and $8.9 million in two rent-controlled multi-family properties in New York City.

**NON-INTEREST EXPENSE**

Non-interest expense for the quarter ended March 31, 2026 decreased $1.5 million to $140.8 million from $142.4 million for the quarter ended December 31, 2025. The decrease was primarily driven by a decrease of $2.3 million in other non-interest expense primarily due to a decline of $0.9 million in loan workout expense, and a decrease of $1.4 million in merger and restructuring expense, partially offset by an increase of $2.4 million in FDIC insurance expense.

**PROVISION FOR INCOME TAXES**

The effective tax rate was 29.9 percent for the three months ended March 31, 2026 compared to 29.0 percent for the three months ended December 31, 2025 and 25.0 percent for the three months ended March 31, 2025. The core tax rate was 26.1 percent (non-GAAP).

**RETURNS ON AVERAGE ASSETS AND AVERAGE EQUITY**

The annualized return on average assets decreased to 0.84 percent during the first quarter of 2026 from 0.94 percent for the fourth quarter of 2025.

The annualized return on average stockholders' equity decreased to 7.32 percent during the first quarter of 2026 from 8.70 percent for the fourth quarter of 2025. The annualized return on average tangible stockholders' equity (non-GAAP) decreased to 9.30 percent for the first quarter of 2026 from 11.19 percent for the fourth quarter of 2025.

**DIVIDEND DECLARED** 

The Company's Board of Directors approved a dividend of $0.3225 per share for the quarter ended March 31, 2026. The dividend will be paid on May 29, 2026 to stockholders of record on May 15, 2026.

**STOCK REPURCHASE**

The Company's Board of Directors approved a $50 million stock repurchase program. The stock repurchase program, which is subject to regulatory approval, authorizes the Company to repurchase up to $50 million of shares over 12 months following the authorization by regulatory authorities.

**CONFERENCE CALL**

The Company will conduct a conference call/webcast at 1:30 PM Eastern Time on Thursday, April 30, 2026 to discuss the results for the quarter, business highlights and outlook. A copy of the Earnings Presentation is available on the Company's website at www.beaconfinancialcorporation.com. To listen to the call and view the Company's Earnings Presentation, please join the call via https://events.q4inc.com/attendee/947331842. To listen to the call without access to the slides, interested parties may dial 800-715-9871 (United States) or 646-307-1963 (internationally) and ask for the Beacon Financial Corporation conference call (Access Code: 6567963). A recorded playback of the call will be available for one week following the call on the Company's website under "Investor Relations" or by dialing 800-770-2030 (United States & Canada) or 609-800-9909 (internationally) and entering the passcode: 6567963.

**ABOUT BEACON FINANCIAL CORPORATION**

Beacon Financial Corporation (NYSE: BBT) is the holding company for Beacon Bank & Trust, commonly known as Beacon Bank, a full-service regional bank serving the Northeast. Headquartered in Boston, the Company has $22.2 billion in assets and more than 145 branches throughout New England and New York. Beacon Bank offers a full suite of tailored banking solutions including commercial, cash management, asset-based lending, retail, consumer and residential products and services. The Company also provides equipment financing through its Eastern Funding subsidiary, SBA lending through its 44 Business Capital division, and private wealth services through Clarendon Private.

**FORWARD-LOOKING STATEMENTS**

Certain statements contained in this press release that are not historical facts may constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and are intended to be covered by the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. The Company may also make forward-looking statements in other documents it files with the Securities and Exchange Commission ("SEC"), in our annual reports to shareholders, in press releases and other written materials, and in oral statements made by our officers, directors or employees. You can identify forward looking statements by the use of the words "believe," "expect," "anticipate," "intend," "estimate," "assume," "outlook," "will," "should," and other expressions that predict or indicate future events and trends and which do not relate to historical matters, including statements regarding the Company's business, credit quality, financial condition, liquidity and results of operations. Forward-looking statements may differ, possibly materially, from what is included in this press release due to factors and future developments that are uncertain and beyond the scope of the Company's control. These include, but are not limited to, changes in interest rates; general economic conditions (including the impact of ongoing armed conflicts, tariffs, inflation, and concerns about liquidity) on a national basis or in the local markets in which the Company operates; ongoing turbulence in the capital and debt markets; competitive pressures from other financial institutions; changes in consumer behavior due to changing political, business and economic conditions, or legislative or regulatory initiatives; changes in the value of securities and other assets in the Company's investment portfolio; increases in loan and lease default and charge-off rates; the adequacy of allowances for loan and lease losses; decreases in deposit levels that necessitate increases in borrowing to fund loans and investments; operational risks including, but not limited to, cybersecurity incidents, fraud, natural disasters, and future pandemics; changes in regulation; the possibility that future credit losses may be higher than currently expected due to changes in economic assumptions and adverse economic developments; the risk that goodwill and intangibles recorded in the Company's financial statements will become impaired; and changes in assumptions used in making such forward-looking statements. Forward-looking statements involve risks and uncertainties which are difficult to predict. The Company's actual results could differ materially from those projected in the forward-looking statements as a result of, among others, the risks outlined in the Company's Annual Report on Form 10-K, as updated by its Quarterly Reports on Form 10-Q and other filings submitted to the SEC. The Company does not undertake any obligation to update any forward-looking statement to reflect circumstances or events that occur after the date the forward-looking statements are made.

**BASIS OF PRESENTATION**

The Company's consolidated financial statements have been prepared in conformity with generally accepted accounting principles ("GAAP") as set forth by the Financial Accounting Standards Board in its Accounting Standards Codification and through the rules and interpretive releases of the SEC under the authority of federal securities laws. Certain amounts previously reported have been reclassified to conform to the current period's presentation.

**NON-GAAP FINANCIAL MEASURES**

The Company uses certain non-GAAP financial measures, such as operating earnings after tax, operating earnings per common share, operating return on average assets, operating return on average tangible assets, operating return on average stockholders' equity, operating return on average tangible stockholders' equity, tangible book value per common share, tangible stockholders' equity to tangible assets, return on average tangible assets (annualized) and return on average tangible stockholders' equity (annualized). These non-GAAP financial measures provide information for investors to effectively analyze financial trends of ongoing business activities, and to enhance comparability with peers across the financial services sector. A detailed reconciliation table of the Company's GAAP to the non-GAAP measures is attached.

**INVESTOR RELATIONS:**

Contact: Carl M. CarlsonBeacon Financial CorporationChief Financial and Strategy Officer(617) 425-5331carl.carlson@brkl.com <br>

**MEDIA CONTACT:**

Contact: Gary LevanteBeacon Financial CorporationChief Marketing Officer(413) 447-1737glevante@berkshirebank.com <br>

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **BEACON FINANCIAL CORPORATION AND SUBSIDIARIES** | **BEACON FINANCIAL CORPORATION AND SUBSIDIARIES** | **BEACON FINANCIAL CORPORATION AND SUBSIDIARIES** | **BEACON FINANCIAL CORPORATION AND SUBSIDIARIES** | **BEACON FINANCIAL CORPORATION AND SUBSIDIARIES** | **BEACON FINANCIAL CORPORATION AND SUBSIDIARIES** |
| **Selected Financial Highlights (Unaudited)** | **Selected Financial Highlights (Unaudited)** | **Selected Financial Highlights (Unaudited)** | **Selected Financial Highlights (Unaudited)** | **Selected Financial Highlights (Unaudited)** | **Selected Financial Highlights (Unaudited)** |
|  | **At and for the Three Months Ended** | **At and for the Three Months Ended** | **At and for the Three Months Ended** | **At and for the Three Months Ended** | **At and for the Three Months Ended** |
|  | **March 31, <br>2026** | **December 31, <br>2025** | **September 30, <br>2025** | **June 30, <br>2025** | **March 31, <br>2025** |
|  | (Dollars In Thousands Except per Share Data) | (Dollars In Thousands Except per Share Data) | (Dollars In Thousands Except per Share Data) | (Dollars In Thousands Except per Share Data) | (Dollars In Thousands Except per Share Data) |
| **Earnings Data:** |  |  |  |  |  |
| &nbsp;&nbsp;Net interest income | $190774 | $199741 | $128850 | $88685 | $85830 |
| &nbsp;&nbsp;Provision for credit losses on loans and unfunded commitments | 7899 | 8141 | 20268 | 6997 | 5974 |
| &nbsp;&nbsp;Provision (recovery) of credit losses on investments | 47 | (35) | 32 | 3 | 12 |
| &nbsp;&nbsp;Non-interest income | 23947 | 25918 | 12345 | 5970 | 5660 |
| &nbsp;&nbsp;Non-interest expense | 140822 | 142366 | 129296 | 58061 | 60022 |
| &nbsp;&nbsp;Income (loss) before provision for income taxes | 65953 | 75187 | (8401) | 29594 | 25482 |
| &nbsp;&nbsp;Net income (loss) | 46217 | 53366 | (4221) | 22026 | 19100 |
| **Performance Ratios:** |  |  |  |  |  |
| &nbsp;&nbsp;Net interest margin (1) | 3.78% | 3.82% | 3.62% | 3.32% | 3.22% |
| &nbsp;&nbsp;Interest-rate spread (1) | 3.02% | 3.15% | 2.94% | 2.57% | 2.38% |
| &nbsp;&nbsp;Return on average assets (annualized) | 0.84% | 0.94% | (0.11)% | 0.77% | 0.66% |
| &nbsp;&nbsp;Return on average tangible assets (annualized) (non-GAAP) | 0.86% | 0.97% | (0.11)% | 0.79% | 0.68% |
| &nbsp;&nbsp;Return on average stockholders' equity (annualized) | 7.32% | 8.70% | (1.01)% | 7.04% | 6.19% |
| &nbsp;&nbsp;Return on average tangible stockholders' equity (annualized) (non-GAAP) | 9.30% | 11.19% | (1.27)% | 8.85% | 7.82% |
| &nbsp;&nbsp;Efficiency ratio (2) | 65.58% | 63.09% | 91.57% | 61.34% | 65.60% |
| **Per Common Share Data:** |  |  |  |  |  |
| &nbsp;&nbsp;Net income (loss) — Basic | $0.55 | $0.64 | $(0.05) | $0.25 | $0.21 |
| &nbsp;&nbsp;Net income (loss) — Diluted | 0.55 | 0.64 | (0.05) | 0.25 | 0.21 |
| &nbsp;&nbsp;Cash dividends declared | 0.3225 | 0.3225 | 0.3225 | 0.135 | 0.135 |
| &nbsp;&nbsp;Book value per share (end of period) | 29.88 | 29.78 | 29.33 | 14.08 | 13.92 |
| &nbsp;&nbsp;Tangible book value per share (end of period) (non-GAAP) | 23.48 | 23.32 | 22.75 | 11.20 | 11.03 |
| &nbsp;&nbsp;Stock price (end of period) | 30.00 | 26.37 | 23.71 | 10.55 | 10.90 |
| **Balance Sheet:** |  |  |  |  |  |
| &nbsp;&nbsp;Total assets | $22227616 | $23220372 | $22867458 | $11568745 | $11519869 |
| &nbsp;&nbsp;Total loans and leases | 17924156 | 18029552 | 18305379 | 9582374 | 9642722 |
| &nbsp;&nbsp;Total deposits | 18292280 | 19514657 | 18904063 | 8961202 | 8911452 |
| &nbsp;&nbsp;Total stockholders' equity | 2504781 | 2496061 | 2461015 | 1254171 | 1240182 |
| **Asset Quality:** |  |  |  |  |  |
| &nbsp;&nbsp;Nonperforming assets | $151239 | $116747 | $101990 | $63596 | $64021 |
| &nbsp;&nbsp;Nonperforming assets as a percentage of total assets | 0.68% | 0.50% | 0.45% | 0.55% | 0.56% |
| &nbsp;&nbsp;Allowance for loan and lease losses | $244377 | $252839 | $253735 | $126725 | $124145 |
| &nbsp;&nbsp;Allowance for loan and lease losses as a percentage of total loans and leases | 1.36% | 1.40% | 1.39% | 1.32% | 1.29% |
| &nbsp;&nbsp;Net loan and lease charge-offs (3) | 13551 | $9019 | $15857 | $5127 | $7597 |
| &nbsp;&nbsp;Net loan and lease charge-offs as a percentage of average loans and leases (annualized) | 0.30% | 0.20% | 0.51% | 0.21% | 0.31% |
| **Capital Ratios:** |  |  |  |  |  |
| &nbsp;&nbsp;Stockholders' equity to total assets | 11.27% | 10.75% | 10.76% | 10.84% | 10.77% |
| &nbsp;&nbsp;Tangible stockholders' equity to tangible assets (non-GAAP) | 9.07% | 8.62% | 8.56% | 8.82% | 8.73% |
| (1) Calculated on a fully tax-equivalent basis. | (1) Calculated on a fully tax-equivalent basis. | (1) Calculated on a fully tax-equivalent basis. | (1) Calculated on a fully tax-equivalent basis. | (1) Calculated on a fully tax-equivalent basis. | (1) Calculated on a fully tax-equivalent basis. |
| (2) Calculated as non-interest expense as a percentage of net interest income plus non-interest income. | (2) Calculated as non-interest expense as a percentage of net interest income plus non-interest income. | (2) Calculated as non-interest expense as a percentage of net interest income plus non-interest income. | (2) Calculated as non-interest expense as a percentage of net interest income plus non-interest income. | (2) Calculated as non-interest expense as a percentage of net interest income plus non-interest income. | (2) Calculated as non-interest expense as a percentage of net interest income plus non-interest income. |
| (3) The balance at September 30, 2025 excludes a $15.8 million Merger Day 1 charge-offs write up. | (3) The balance at September 30, 2025 excludes a $15.8 million Merger Day 1 charge-offs write up. | (3) The balance at September 30, 2025 excludes a $15.8 million Merger Day 1 charge-offs write up. | (3) The balance at September 30, 2025 excludes a $15.8 million Merger Day 1 charge-offs write up. | (3) The balance at September 30, 2025 excludes a $15.8 million Merger Day 1 charge-offs write up. | (3) The balance at September 30, 2025 excludes a $15.8 million Merger Day 1 charge-offs write up. |

---

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **BEACON FINANCIAL CORPORATION AND SUBSIDIARIES** | **BEACON FINANCIAL CORPORATION AND SUBSIDIARIES** | **BEACON FINANCIAL CORPORATION AND SUBSIDIARIES** | **BEACON FINANCIAL CORPORATION AND SUBSIDIARIES** | **BEACON FINANCIAL CORPORATION AND SUBSIDIARIES** | **BEACON FINANCIAL CORPORATION AND SUBSIDIARIES** |
| **Consolidated Balance Sheets (Unaudited)** | **Consolidated Balance Sheets (Unaudited)** | **Consolidated Balance Sheets (Unaudited)** | **Consolidated Balance Sheets (Unaudited)** | **Consolidated Balance Sheets (Unaudited)** | **Consolidated Balance Sheets (Unaudited)** |
|  | **March 31, <br>2026** | **December 31, <br>2025** | **September 30, <br>2025** | **June 30, <br>2025** | **March 31, <br>2025** |
| ***ASSETS*** | (In Thousands Except Share Data) | (In Thousands Except Share Data) | (In Thousands Except Share Data) | (In Thousands Except Share Data) | (In Thousands Except Share Data) |
| Cash and due from banks | $185692 | $201557 | $182251 | $87386 | $78741 |
| Short-term investments | 927256 | 1840188 | 1038369 | 419362 | 278805 |
| &nbsp;&nbsp;Total cash and cash equivalents | 1112948 | 2041745 | 1220620 | 506748 | 357546 |
| Investment securities available-for-sale | 1718710 | 1688768 | 1739423 | 866684 | 882353 |
| &nbsp;&nbsp;Total investment securities | 1718710 | 1688768 | 1739423 | 866684 | 882353 |
| Allowance for investment security losses | (141) | (94) | (129) | (97) | (94) |
| &nbsp;&nbsp;Net investment securities | 1718569 | 1688674 | 1739294 | 866587 | 882259 |
| Loans and leases held-for-sale |  |  | 83330 |  |  |
| Loans and leases: |  |  |  |  |  |
| &nbsp;&nbsp;Commercial real estate loans | 9957408 | 10012094 | 10247090 | 5485546 | 5580982 |
| &nbsp;&nbsp;Commercial loans and leases | 4011974 | 3947363 | 3950693 | 2520347 | 2512912 |
| &nbsp;&nbsp;Consumer loans | 3954774 | 4070095 | 4107596 | 1576481 | 1548828 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total loans and leases | 17924156 | 18029552 | 18305379 | 9582374 | 9642722 |
| Allowance for loan and lease losses | (244377) | (252839) | (253735) | (126725) | (124145) |
| &nbsp;&nbsp;&nbsp;&nbsp;Net loans and leases | 17679779 | 17776713 | 18051644 | 9455649 | 9518577 |
| Restricted equity securities | 97441 | 87438 | 99431 | 66481 | 67537 |
| Premises and equipment, net of accumulated depreciation | 161141 | 162474 | 158375 | 83963 | 84439 |
| Right-of-use asset operating leases | 84851 | 82817 | 84238 | 42415 | 44144 |
| Deferred tax asset | 142827 | 149487 | 178456 | 52325 | 52176 |
| Goodwill | 355269 | 351613 | 353471 | 241222 | 241222 |
| Identified intangible assets, net of accumulated amortization | 181234 | 189562 | 198339 | 14600 | 16030 |
| Other real estate owned and repossessed assets | 2623 | 2591 | 3360 | 1288 | 917 |
| Cash surrender value of bank-owned life insurance policies | 336980 | 334442 | 332840 | 85479 | 84959 |
| Other assets | 353954 | 352816 | 364060 | 151988 | 170063 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total assets | $22227616 | $23220372 | $22867458 | $11568745 | $11519869 |
| ***LIABILITIES AND STOCKHOLDERS' EQUITY*** |  |  |  |  |  |
| Deposits: |  |  |  |  |  |
| &nbsp;&nbsp;Demand checking accounts | $3861000 | $4032529 | $3905559 | $1726933 | $1664629 |
| &nbsp;&nbsp;Interest-bearing deposits: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;NOW accounts | 1520600 | 1445894 | 1470808 | 650707 | 625492 |
| &nbsp;&nbsp;&nbsp;&nbsp;Savings accounts | 3088857 | 2954029 | 2904888 | 1795761 | 1793852 |
| &nbsp;&nbsp;&nbsp;&nbsp;Money market accounts | 4393607 | 4625281 | 4545231 | 2153709 | 2183855 |
| &nbsp;&nbsp;&nbsp;&nbsp;Payroll deposit accounts | 1213861 | 1890025 | 1044462 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Certificate of deposit accounts | 4085511 | 4156540 | 4127226 | 1877661 | 1878665 |
| &nbsp;&nbsp;&nbsp;&nbsp;Brokered deposit accounts | 128844 | 410359 | 905889 | 756431 | 764959 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total interest-bearing deposits | 14431280 | 15482128 | 14998504 | 7234269 | 7246823 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total deposits | 18292280 | 19514657 | 18904063 | 8961202 | 8911452 |
| Borrowed funds: |  |  |  |  |  |
| &nbsp;&nbsp;Advances from the FHLB | 822091 | 555788 | 841044 | 934669 | 957848 |
| &nbsp;&nbsp;Subordinated debentures and notes | 198989 | 198572 | 198283 | 84397 | 84362 |
| &nbsp;&nbsp;Other borrowed funds | 51423 | 34000 | 41189 | 135985 | 113617 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total borrowed funds | 1072503 | 788360 | 1080516 | 1155051 | 1155827 |
| Operating lease liabilities | 90241 | 90713 | 92211 | 43528 | 45330 |
| Reserve for unfunded credits | 16555 | 13746 | 13727 | 4586 | 5296 |
| Accrued expenses and other liabilities | 251256 | 316835 | 315926 | 150207 | 161782 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total liabilities | 19722835 | 20724311 | 20406443 | 10314574 | 10279687 |
| Stockholders' equity: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Common stock, $0.01 par value; 200,000,000 shares authorized; 89,576,403 shares issued, 89,576,403 shares issued, 89,576,403 shares issued, 96,998,075 shares issued, and 96,998,075 shares issued, respectively | 896 | 896 | 896 | 970 | 970 |
| &nbsp;&nbsp;Additional paid-in capital | 2172982 | 2171885 | 2171912 | 904697 | 903696 |
| &nbsp;&nbsp;Retained earnings | 504976 | 485862 | 459598 | 475781 | 465898 |
| &nbsp;&nbsp;Accumulated other comprehensive income | (31411) | (20002) | (28905) | (39378) | (42498) |
| &nbsp;&nbsp;Treasury stock, at cost; |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5,548,772, 5,545,511, 5,449,039, 7,039,136, and 7,037,610 shares, respectively | (142662) | (142580) | (142486) | (87899) | (87884) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total stockholders' equity | 2504781 | 2496061 | 2461015 | 1254171 | 1240182 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total liabilities and stockholders' equity | $22227616 | $23220372 | $22867458 | $11568745 | $11519869 |

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **BEACON FINANCIAL CORPORATION AND SUBSIDIARIES** | **BEACON FINANCIAL CORPORATION AND SUBSIDIARIES** | **BEACON FINANCIAL CORPORATION AND SUBSIDIARIES** | **BEACON FINANCIAL CORPORATION AND SUBSIDIARIES** | **BEACON FINANCIAL CORPORATION AND SUBSIDIARIES** | **BEACON FINANCIAL CORPORATION AND SUBSIDIARIES** |
| **Consolidated Statements of Income (Unaudited)** | **Consolidated Statements of Income (Unaudited)** | **Consolidated Statements of Income (Unaudited)** | **Consolidated Statements of Income (Unaudited)** | **Consolidated Statements of Income (Unaudited)** | **Consolidated Statements of Income (Unaudited)** |
|  | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** |
|  | **March 31,<br>2026** | **December 31,<br>2025** | **September 30,<br>2025** | **June 30,<br>2025** | **March 31,<br>2025** |
|  | (In Thousands Except Share Data) | (In Thousands Except Share Data) | (In Thousands Except Share Data) | (In Thousands Except Share Data) | (In Thousands Except Share Data) |
| Interest and dividend income: |  |  |  |  |  |
| &nbsp;&nbsp;Loans and leases | $266935 | $285795 | $194517 | $143933 | $143309 |
| &nbsp;&nbsp;Debt securities | 16510 | 16335 | 10984 | 6691 | 6765 |
| &nbsp;&nbsp;Restricted equity securities | 843 | 1160 | 1466 | 1062 | 1203 |
| &nbsp;&nbsp;Short-term investments | 8096 | 9293 | 5438 | 2386 | 2451 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total interest and dividend income | 292384 | 312583 | 212405 | 154072 | 153728 |
| Interest expense: |  |  |  |  |  |
| &nbsp;&nbsp;Deposits | 93056 | 102439 | 71901 | 52682 | 53478 |
| &nbsp;&nbsp;Borrowed funds | 8554 | 10403 | 11654 | 12705 | 14420 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total interest expense | 101610 | 112842 | 83555 | 65387 | 67898 |
| Net interest income | 190774 | 199741 | 128850 | 88685 | 85830 |
| Provision for credit losses on loans | 7899 | 8141 | 20268 | 6997 | 5974 |
| Provision (recovery) of credit losses on investments | 47 | (35) | 32 | 3 | 12 |
| &nbsp;&nbsp;Net interest income after provision for credit losses | 182828 | 191635 | 108550 | 81685 | 79844 |
| Non-interest income: |  |  |  |  |  |
| &nbsp;&nbsp;Deposit fees | 8347 | 9843 | 5005 | 2472 | 2361 |
| &nbsp;&nbsp;Loan fees | 2366 | 2189 | 1004 | 472 | 393 |
| &nbsp;&nbsp;Loan level derivative income (loss) | 775 | 721 | 635 | (4) | 70 |
| &nbsp;&nbsp;Gain on sales of loans and leases held-for-sale | 2689 | 4154 | 1175 | 264 | 24 |
| &nbsp;&nbsp;Wealth management fees | 4464 | 4370 | 2466 | 1421 | 1491 |
| &nbsp;&nbsp;Other | 5306 | 4641 | 2060 | 1345 | 1321 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total non-interest income | 23947 | 25918 | 12345 | 5970 | 5660 |
| Non-interest expense: |  |  |  |  |  |
| &nbsp;&nbsp;Compensation and employee benefits | 69650 | 70204 | 49999 | 35147 | 35853 |
| &nbsp;&nbsp;Occupancy | 13097 | 11877 | 6921 | 5349 | 5721 |
| &nbsp;&nbsp;Equipment and data processing | 20127 | 19754 | 11110 | 6841 | 7012 |
| &nbsp;&nbsp;Professional services | 2462 | 2778 | 2114 | 1471 | 1726 |
| &nbsp;&nbsp;FDIC insurance | 4320 | 1924 | 1971 | 1880 | 2037 |
| &nbsp;&nbsp;Advertising and marketing | 1679 | 2157 | 1583 | 1371 | 868 |
| &nbsp;&nbsp;Amortization of identified intangible assets | 8328 | 8777 | 3587 | 1431 | 1430 |
| &nbsp;&nbsp;Other | 8134 | 10471 | 6148 | 4132 | 4404 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total non-interest operating expense | 127797 | 127942 | 83433 | 57622 | 59051 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Merger and restructuring expense | 13025 | 14424 | 45863 | 439 | 971 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total non-interest expense | 140822 | 142366 | 129296 | 58061 | 60022 |
| Income (loss) before provision for income taxes | 65953 | 75187 | (8401) | 29594 | 25482 |
| Provision (benefit) for income taxes | 19736 | 21821 | (4180) | 7568 | 6382 |
| &nbsp;&nbsp;Net Income (loss) | $46217 | $53366 | $(4221) | $22026 | $19100 |
| Earnings per common share: |  |  |  |  |  |
| &nbsp;&nbsp;Basic | $0.55 | $0.64 | $(0.05) | $0.25 | $0.21 |
| &nbsp;&nbsp;Diluted | $0.55 | $0.64 | $(0.05) | $0.25 | $0.21 |
| Weighted average common shares outstanding during the period: | Weighted average common shares outstanding during the period: |  |  |  |  |
| &nbsp;&nbsp;Basic | 83816086 | 83851381 | 87508517 | 89104605 | 89103510 |
| &nbsp;&nbsp;Diluted | 83903440 | 83878047 | 87832552 | 89612781 | 89567747 |
| Dividends paid per common share | $0.3225 | $0.3225 | $0.3225 | $0.135 | $0.135 |

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **BEACON FINANCIAL CORPORATION AND SUBSIDIARIES** | **BEACON FINANCIAL CORPORATION AND SUBSIDIARIES** | **BEACON FINANCIAL CORPORATION AND SUBSIDIARIES** | **BEACON FINANCIAL CORPORATION AND SUBSIDIARIES** | **BEACON FINANCIAL CORPORATION AND SUBSIDIARIES** | **BEACON FINANCIAL CORPORATION AND SUBSIDIARIES** |
| **Asset Quality Analysis (Unaudited)** | **Asset Quality Analysis (Unaudited)** | **Asset Quality Analysis (Unaudited)** | **Asset Quality Analysis (Unaudited)** | **Asset Quality Analysis (Unaudited)** | **Asset Quality Analysis (Unaudited)** |
|  | **At and for the Three Months Ended** | **At and for the Three Months Ended** | **At and for the Three Months Ended** | **At and for the Three Months Ended** | **At and for the Three Months Ended** |
|  | **March 31, <br>2026** | **December 31, <br>2025** | **September 30, <br>2025** | **June 30, <br>2025** | **March 31, <br>2025** |
|  | (Dollars in Thousands) | (Dollars in Thousands) | (Dollars in Thousands) | (Dollars in Thousands) | (Dollars in Thousands) |
| **NONPERFORMING ASSETS:** |  |  |  |  |  |
| Loans and leases accounted for on a nonaccrual basis: |  |  |  |  |  |
| &nbsp;&nbsp;Commercial real estate mortgage | $65127 | $41246 | $30213 | $987 | $10842 |
| &nbsp;&nbsp;Multi-family mortgage | 12995 | 4065 | 2994 | 1433 | 6576 |
| &nbsp;&nbsp;Construction |  |  | 535 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Total commercial real estate loans | 78122 | 45311 | 33742 | 2420 | 17418 |
| &nbsp;&nbsp;Commercial | 22626 | 16716 | 14035 | 8687 | 7415 |
| &nbsp;&nbsp;Equipment financing | 38633 | 42718 | 41793 | 46067 | 32975 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total commercial loans and leases | 61259 | 59434 | 55828 | 54754 | 40390 |
| &nbsp;&nbsp;Residential mortgage | 5807 | 6465 | 6597 | 3572 | 3962 |
| &nbsp;&nbsp;Home equity | 3222 | 2739 | 2220 | 1561 | 1333 |
| &nbsp;&nbsp;Other consumer | 206 | 207 | 243 | 1 | 1 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total consumer loans | 9235 | 9411 | 9060 | 5134 | 5296 |
| &nbsp;&nbsp;Total nonaccrual loans and leases | 148616 | 114156 | 98630 | 62308 | 63104 |
| Other real estate owned |  |  | 824 | 700 | 700 |
| Other repossessed assets | 2623 | 2591 | 2536 | 588 | 217 |
| &nbsp;&nbsp;Total nonperforming assets | $151239 | $116747 | $101990 | $63596 | $64021 |
| Loans and leases past due greater than 90 days and still accruing | $5834 | $37823 | $23570 | $24899 | $3009 |
| Nonperforming loans and leases as a percentage of total loans and leases | 0.83% | 0.63% | 0.54% | 0.65% | 0.65% |
| Nonperforming assets as a percentage of total assets | 0.68% | 0.50% | 0.45% | 0.55% | 0.56% |
| **PROVISION AND ALLOWANCE FOR LOAN AND LEASE LOSSES:** | **PROVISION AND ALLOWANCE FOR LOAN AND LEASE LOSSES:** | **PROVISION AND ALLOWANCE FOR LOAN AND LEASE LOSSES:** |  |  |  |
| Allowance for loan and lease losses at beginning of period | $252839 | $253735 | $126725 | $124145 | $125083 |
| &nbsp;&nbsp;Merger Day 1 allowance on non-PCD loans \* |  |  | 67229 |  |  |
| &nbsp;&nbsp;Merger Day 1 allowance on PCD loans |  |  | 64511 |  |  |
| &nbsp;&nbsp;Charge-offs | (15880) | (10917) | (16661) | (5601) | (9073) |
| &nbsp;&nbsp;Recoveries | 2329 | 1898 | 804 | 474 | 1476 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net charge-offs\*\* | (13551) | (9019) | (15857) | (5127) | (7597) |
| &nbsp;&nbsp;Provision for loan and lease losses excluding unfunded commitments \*\*\* | 5089 | 8123 | 11127 | 7707 | 6659 |
| &nbsp;&nbsp;&nbsp;&nbsp;Allowance for loan and lease losses at end of period | $244377 | $252839 | $253735 | $126725 | $124145 |
| Allowance for loan and lease losses as a percentage of total loans and leases | 1.36% | 1.40% | 1.39% | 1.32% | 1.29% |
| **NET CHARGE-OFFS:** |  |  |  |  |  |
| Commercial real estate loans | $6997 | $6598 | $819 | $3524 | $— |
| Commercial loans and leases | 6611 | 2799 | 15116 | 1640 | 7647 |
| Consumer loans | (57) | (378) | (78) | (37) | (50) |
| &nbsp;&nbsp;Total net charge-offs\*\* | $13551 | $9019 | $15857 | $5127 | $7597 |
| Net loan and lease charge-offs as a percentage of average loans and leases (annualized) | 0.30% | 0.20% | 0.51% | 0.21% | 0.31% |
| \*As a result of the adoption of ASU 2025-08, this amount, related to seasoned non-PCD loans, is recorded as part of purchase accounting adjustments, not through the provision. |  |  |  |  |  |
| \*\* Excludes the impact of Merger Day 1 purchase accounting that resulted in $15.8 million of charge-offs during the three months ended September 30, 2025. |  |  |  |  |  |
| \*\*\*Provision for loan and lease losses does not include provision (credit) of $2.8 million, $(0.0 million), $9.1 million of which $8.4 million was related to Merger Day 1, $(0.7 million), and $(0.7 million) for credit losses on unfunded commitments during the three months ended March 31, 2026, December 31, 2025, September 30, 2025, June 30, 2025, and March 31, 2025, respectively. |  |  |  |  |  |

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| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **BEACON FINANCIAL CORPORATION. AND SUBSIDIARIES** | **BEACON FINANCIAL CORPORATION. AND SUBSIDIARIES** | **BEACON FINANCIAL CORPORATION. AND SUBSIDIARIES** | **BEACON FINANCIAL CORPORATION. AND SUBSIDIARIES** | **BEACON FINANCIAL CORPORATION. AND SUBSIDIARIES** | **BEACON FINANCIAL CORPORATION. AND SUBSIDIARIES** | **BEACON FINANCIAL CORPORATION. AND SUBSIDIARIES** | **BEACON FINANCIAL CORPORATION. AND SUBSIDIARIES** | **BEACON FINANCIAL CORPORATION. AND SUBSIDIARIES** | **BEACON FINANCIAL CORPORATION. AND SUBSIDIARIES** |
| **Average Yields / Costs (Unaudited)** | **Average Yields / Costs (Unaudited)** | **Average Yields / Costs (Unaudited)** | **Average Yields / Costs (Unaudited)** | **Average Yields / Costs (Unaudited)** | **Average Yields / Costs (Unaudited)** | **Average Yields / Costs (Unaudited)** | **Average Yields / Costs (Unaudited)** | **Average Yields / Costs (Unaudited)** | **Average Yields / Costs (Unaudited)** |
|  | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** |
|  | **March 31, 2026** | **March 31, 2026** | **March 31, 2026** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **March 31, 2025** | **March 31, 2025** | **March 31, 2025** |
|  | **Average Balance** | **Interest (1)** | **Average Yield/ Cost** | **Average Balance** | **Interest (1)** | **Average Yield/ Cost** | **Average Balance** | **Interest (1)** | **Average Yield/ Cost** |
|  | (Dollars in Thousands) | (Dollars in Thousands) | (Dollars in Thousands) | (Dollars in Thousands) | (Dollars in Thousands) | (Dollars in Thousands) | (Dollars in Thousands) | (Dollars in Thousands) | (Dollars in Thousands) |
| **Assets:** |  |  |  |  |  |  |  |  |  |
| Interest-earning assets: |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;Investments: |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Debt securities (2) | $1684382 | $17153 | 4.07% | $1701105 | $17028 | 4.00% | $888913 | $6814 | 3.07% |
| &nbsp;&nbsp;&nbsp;&nbsp;Restricted equity securities (2) | 84281 | 845 | 4.01% | 90227 | 1163 | 5.16% | 69784 | 1204 | 6.90% |
| &nbsp;&nbsp;&nbsp;&nbsp;Short-term investments | 879562 | 8096 | 3.68% | 935845 | 9293 | 3.97% | 202953 | 2451 | 4.83% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total investments | 2648225 | 26094 | 3.94% | 2727177 | 27484 | 4.03% | 1161650 | 10469 | 3.60% |
| &nbsp;&nbsp;Loans and Leases: |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Commercial real estate loans (3) | 9974029 | 143162 | 5.74% | 10124749 | 152780 | 5.90% | 5651390 | 77243 | 5.47% |
| &nbsp;&nbsp;&nbsp;&nbsp;Commercial loans (3) | 2877031 | 44646 | 6.21% | 2795135 | 47958 | 6.72% | 1237078 | 19698 | 6.37% |
| &nbsp;&nbsp;&nbsp;&nbsp;Equipment financing (3) | 1117336 | 23545 | 8.43% | 1182376 | 25206 | 8.53% | 1281425 | 25965 | 8.11% |
| &nbsp;&nbsp;&nbsp;&nbsp;Consumer loans (3) | 4006808 | 56561 | 5.66% | 4102433 | 60907 | 5.92% | 1548973 | 20861 | 5.41% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total loans and leases | 17975204 | 267914 | 5.96% | 18204693 | 286851 | 6.30% | 9718866 | 143767 | 5.92% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total interest-earning assets | 20623429 | 294008 | 5.70% | 20931870 | 314335 | 6.01% | 10880516 | 154236 | 5.67% |
| Non-interest-earning assets | 1512428 |  |  | 1712611 |  |  | 662814 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total assets | $22135857 |  |  | $22644481 |  |  | $11543330 |  |  |
| **Liabilities and Stockholders' Equity:** |  |  |  |  |  |  |  |  |  |
| Interest-bearing liabilities: |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;Deposits: |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;NOW accounts | $1494773 | 3526 | 0.96% | $1445932 | 2953 | 0.81% | $628346 | 1005 | 0.65% |
| &nbsp;&nbsp;&nbsp;&nbsp;Savings accounts | 3032997 | 13612 | 1.82% | 2939288 | 14770 | 1.99% | 1743688 | 10173 | 2.37% |
| &nbsp;&nbsp;&nbsp;&nbsp;Money market accounts | 5709490 | 35969 | 2.55% | 5546257 | 37347 | 2.67% | 2187581 | 13587 | 2.52% |
| &nbsp;&nbsp;&nbsp;&nbsp;Certificates of deposit | 4136313 | 36870 | 3.62% | 4150590 | 39438 | 3.77% | 1886386 | 19593 | 4.21% |
| &nbsp;&nbsp;&nbsp;&nbsp;Brokered deposit accounts | 307179 | 3079 | 4.06% | 739874 | 7931 | 4.25% | 767275 | 9120 | 4.82% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total interest-bearing deposits | 14680752 | 93056 | 2.57% | 14821941 | 102439 | 2.74% | 7213276 | 53478 | 3.01% |
| &nbsp;&nbsp;Borrowings |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;Advances from the FHLB | 476434 | 4678 | 3.93% | 607594 | 6533 | 4.21% | 1007508 | 11847 | 4.70% |
| &nbsp;&nbsp;Subordinated debentures and notes | 198755 | 3588 | 7.22% | 198411 | 3623 | 7.30% | 84345 | 1701 | 8.07% |
| &nbsp;&nbsp;Other borrowed funds | 26974 | 288 | 4.33% | 38089 | 247 | 2.57% | 71462 | 872 | 4.95% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total borrowings | 702163 | 8554 | 4.87% | 844094 | 10403 | 4.82% | 1163315 | 14420 | 4.96% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total interest-bearing liabilities | 15382915 | 101610 | 2.68% | 15666035 | 112842 | 2.86% | 8376591 | 67898 | 3.29% |
| Non-interest-bearing liabilities: |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;Demand checking accounts | 3866588 |  |  | 3982227 |  |  | 1680527 |  |  |
| &nbsp;&nbsp;Other non-interest-bearing liabilities | 362368 |  |  | 542739 |  |  | 251011 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total liabilities | 19611871 |  |  | 20191001 |  |  | 10308129 |  |  |
| Stockholders' equity | 2523986 |  |  | 2453480 |  |  | 1235201 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total liabilities and equity | $22135857 |  |  | $22644481 |  |  | $11543330 |  |  |
| Net interest income (tax-equivalent basis) /Interest-rate spread (4) |  | 192398 | 3.02% |  | 201493 | 3.15% |  | 86338 | 2.38% |
| Less adjustment of tax-exempt income |  | 1624 |  |  | 1752 |  |  | 508 |  |
| Net interest income |  | $190774 |  |  | $199741 |  |  | $85830 |  |
| Net interest margin (5) |  |  | 3.78% |  |  | 3.82% |  |  | 3.22% |
| (1) Tax-exempt income on debt securities, equity securities and revenue bonds included in commercial real estate loans is included on a tax-equivalent basis. | (1) Tax-exempt income on debt securities, equity securities and revenue bonds included in commercial real estate loans is included on a tax-equivalent basis. | (1) Tax-exempt income on debt securities, equity securities and revenue bonds included in commercial real estate loans is included on a tax-equivalent basis. | (1) Tax-exempt income on debt securities, equity securities and revenue bonds included in commercial real estate loans is included on a tax-equivalent basis. | (1) Tax-exempt income on debt securities, equity securities and revenue bonds included in commercial real estate loans is included on a tax-equivalent basis. | (1) Tax-exempt income on debt securities, equity securities and revenue bonds included in commercial real estate loans is included on a tax-equivalent basis. | (1) Tax-exempt income on debt securities, equity securities and revenue bonds included in commercial real estate loans is included on a tax-equivalent basis. | (1) Tax-exempt income on debt securities, equity securities and revenue bonds included in commercial real estate loans is included on a tax-equivalent basis. | (1) Tax-exempt income on debt securities, equity securities and revenue bonds included in commercial real estate loans is included on a tax-equivalent basis. | (1) Tax-exempt income on debt securities, equity securities and revenue bonds included in commercial real estate loans is included on a tax-equivalent basis. |
| (2) Average balances include unrealized gains (losses) on investment securities. Dividend payments may not be consistent and average yield on equity securities may vary from month to month. | (2) Average balances include unrealized gains (losses) on investment securities. Dividend payments may not be consistent and average yield on equity securities may vary from month to month. | (2) Average balances include unrealized gains (losses) on investment securities. Dividend payments may not be consistent and average yield on equity securities may vary from month to month. | (2) Average balances include unrealized gains (losses) on investment securities. Dividend payments may not be consistent and average yield on equity securities may vary from month to month. | (2) Average balances include unrealized gains (losses) on investment securities. Dividend payments may not be consistent and average yield on equity securities may vary from month to month. | (2) Average balances include unrealized gains (losses) on investment securities. Dividend payments may not be consistent and average yield on equity securities may vary from month to month. | (2) Average balances include unrealized gains (losses) on investment securities. Dividend payments may not be consistent and average yield on equity securities may vary from month to month. | (2) Average balances include unrealized gains (losses) on investment securities. Dividend payments may not be consistent and average yield on equity securities may vary from month to month. | (2) Average balances include unrealized gains (losses) on investment securities. Dividend payments may not be consistent and average yield on equity securities may vary from month to month. | (2) Average balances include unrealized gains (losses) on investment securities. Dividend payments may not be consistent and average yield on equity securities may vary from month to month. |
| (3) Loans on nonaccrual status are included in the average balances. | (3) Loans on nonaccrual status are included in the average balances. | (3) Loans on nonaccrual status are included in the average balances. | (3) Loans on nonaccrual status are included in the average balances. | (3) Loans on nonaccrual status are included in the average balances. | (3) Loans on nonaccrual status are included in the average balances. | (3) Loans on nonaccrual status are included in the average balances. | (3) Loans on nonaccrual status are included in the average balances. | (3) Loans on nonaccrual status are included in the average balances. | (3) Loans on nonaccrual status are included in the average balances. |
| (4) Interest rate spread represents the difference between the yield on interest-earning assets and the cost of interest-bearing liabilities. | (4) Interest rate spread represents the difference between the yield on interest-earning assets and the cost of interest-bearing liabilities. | (4) Interest rate spread represents the difference between the yield on interest-earning assets and the cost of interest-bearing liabilities. | (4) Interest rate spread represents the difference between the yield on interest-earning assets and the cost of interest-bearing liabilities. | (4) Interest rate spread represents the difference between the yield on interest-earning assets and the cost of interest-bearing liabilities. | (4) Interest rate spread represents the difference between the yield on interest-earning assets and the cost of interest-bearing liabilities. | (4) Interest rate spread represents the difference between the yield on interest-earning assets and the cost of interest-bearing liabilities. | (4) Interest rate spread represents the difference between the yield on interest-earning assets and the cost of interest-bearing liabilities. | (4) Interest rate spread represents the difference between the yield on interest-earning assets and the cost of interest-bearing liabilities. | (4) Interest rate spread represents the difference between the yield on interest-earning assets and the cost of interest-bearing liabilities. |
| (5) Net interest margin represents net interest income (tax-equivalent basis) divided by average interest-earning assets on an actual/actual basis. | (5) Net interest margin represents net interest income (tax-equivalent basis) divided by average interest-earning assets on an actual/actual basis. | (5) Net interest margin represents net interest income (tax-equivalent basis) divided by average interest-earning assets on an actual/actual basis. | (5) Net interest margin represents net interest income (tax-equivalent basis) divided by average interest-earning assets on an actual/actual basis. | (5) Net interest margin represents net interest income (tax-equivalent basis) divided by average interest-earning assets on an actual/actual basis. | (5) Net interest margin represents net interest income (tax-equivalent basis) divided by average interest-earning assets on an actual/actual basis. | (5) Net interest margin represents net interest income (tax-equivalent basis) divided by average interest-earning assets on an actual/actual basis. | (5) Net interest margin represents net interest income (tax-equivalent basis) divided by average interest-earning assets on an actual/actual basis. | (5) Net interest margin represents net interest income (tax-equivalent basis) divided by average interest-earning assets on an actual/actual basis. | (5) Net interest margin represents net interest income (tax-equivalent basis) divided by average interest-earning assets on an actual/actual basis. |

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **BEACON FINANCIAL CORPORATION AND SUBSIDIARIES** | **BEACON FINANCIAL CORPORATION AND SUBSIDIARIES** | **BEACON FINANCIAL CORPORATION AND SUBSIDIARIES** | **BEACON FINANCIAL CORPORATION AND SUBSIDIARIES** | **BEACON FINANCIAL CORPORATION AND SUBSIDIARIES** | **BEACON FINANCIAL CORPORATION AND SUBSIDIARIES** |
| **Non-GAAP Financial Information (Unaudited)** | **Non-GAAP Financial Information (Unaudited)** | **Non-GAAP Financial Information (Unaudited)** | **Non-GAAP Financial Information (Unaudited)** | **Non-GAAP Financial Information (Unaudited)** | **Non-GAAP Financial Information (Unaudited)** |
|  | | | | **Three Months Ended <br>March 31,** | **Three Months Ended <br>March 31,** |
|  |  |  |  | **2026** | **2025** |
| **Reconciliation Table - Non-GAAP Financial Information** | **Reconciliation Table - Non-GAAP Financial Information** |  |  |  |  |
| Reported Pretax Income | Reported Pretax Income |  |  | $65953 | $25482 |
| &nbsp;&nbsp;Add: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Merger and restructuring expense | &nbsp;&nbsp;&nbsp;&nbsp;Merger and restructuring expense |  |  | 13025 | 971 |
| &nbsp;&nbsp;&nbsp;&nbsp;Operating Pretax income |  |  |  | $78978 | $26453 |
| &nbsp;&nbsp;&nbsp;&nbsp;Effective tax rate |  |  |  | 26.1% | 24.3% |
| &nbsp;&nbsp;&nbsp;&nbsp;Provision for income taxes |  |  |  | 20590 | 6416 |
| **Operating earnings after tax** | **Operating earnings after tax** |  |  | $58388 | $20037 |
| Operating earnings per common share: |  |  |  |  |  |
| &nbsp;&nbsp;Basic |  |  |  | $0.70 | $0.22 |
| &nbsp;&nbsp;Diluted |  |  |  | $0.70 | $0.22 |
| Weighted average common shares outstanding during the period: | Weighted average common shares outstanding during the period: |  |  |  |  |
| &nbsp;&nbsp;Basic |  |  |  | 83816086 | 89103510 |
| &nbsp;&nbsp;Diluted |  |  |  | 83903440 | 89567747 |
| Return on average assets \* | Return on average assets \* |  |  | 0.84% | 0.66% |
| &nbsp;&nbsp;Add: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Merger and restructuring expense (after-tax) \* | &nbsp;&nbsp;&nbsp;&nbsp;Merger and restructuring expense (after-tax) \* |  |  | 0.17% | 0.03% |
| **Operating return on average assets \*** | **Operating return on average assets \*** |  |  | 1.01% | 0.69% |
| Return on average tangible assets \* | Return on average tangible assets \* |  |  | 0.86% | 0.68% |
| &nbsp;&nbsp;Add: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Merger and restructuring expense (after-tax) \* | &nbsp;&nbsp;&nbsp;&nbsp;Merger and restructuring expense (after-tax) \* |  |  | 0.18% | 0.03% |
| **Operating return on average tangible assets \*** | **Operating return on average tangible assets \*** |  |  | 1.04% | 0.71% |
| Return on average stockholders' equity \* | Return on average stockholders' equity \* |  |  | 7.32% | 6.19% |
| &nbsp;&nbsp;Add: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Merger and restructuring expense (after-tax) \* | &nbsp;&nbsp;&nbsp;&nbsp;Merger and restructuring expense (after-tax) \* |  |  | 1.53% | 0.24% |
| **Operating return on average stockholders' equity \*** | **Operating return on average stockholders' equity \*** |  |  | 8.85% | 6.43% |
| Return on average tangible stockholders' equity \* | Return on average tangible stockholders' equity \* |  |  | 9.30% | 7.82% |
| &nbsp;&nbsp;Add: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Merger and restructuring expense (after-tax) \* | &nbsp;&nbsp;&nbsp;&nbsp;Merger and restructuring expense (after-tax) \* |  |  | 1.94% | 0.30% |
| **Operating return on average tangible stockholders' equity \*** | **Operating return on average tangible stockholders' equity \*** |  |  | 11.24% | 8.12% |
| \* Ratios at and for the three months ended are annualized. | \* Ratios at and for the three months ended are annualized. |  |  |  |  |
|  | **At and for the Three Months Ended** | **At and for the Three Months Ended** | **At and for the Three Months Ended** | **At and for the Three Months Ended** | **At and for the Three Months Ended** |
|  | **March 31,<br>2026** | **December 31,<br>2025** | **September 30,<br>2025** | **June 30,<br>2025** | **March 31,<br>2025** |
|  | (Dollars in Thousands) | (Dollars in Thousands) | (Dollars in Thousands) | (Dollars in Thousands) | (Dollars in Thousands) |
| Net income (loss), as reported | $46217 | $53366 | $(4221) | $22026 | $19100 |
| Average total assets | $22135857 | $22644481 | $15210080 | $11402934 | $11543330 |
| Less: Average goodwill and average identified intangible assets, net | 536900 | 546276 | 353189 | 256508 | 257941 |
| Average tangible assets | $21598957 | $22098205 | $14856891 | $11146426 | $11285389 |
| **Return on average tangible assets (annualized)** | **0.86%** | **0.97%** | **(0.11)%** | **0.79%** | **0.68%** |
| Average total stockholders' equity | $2523986 | $2453480 | $1678208 | $1252055 | $1235201 |
| Less: Average goodwill and average identified intangible assets, net | 536900 | 546276 | 353189 | 256508 | 257941 |
| Average tangible stockholders' equity | $1987086 | $1907204 | $1325019 | $995547 | $977260 |
| **Return on average tangible stockholders' equity (annualized)** | **9.30%** | **11.19%** | **(1.27)%** | **8.85%** | **7.82%** |
| Total stockholders' equity | $2504781 | $2496061 | $2461015 | 1254171 | 1240182 |
| &nbsp;&nbsp;Less: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Goodwill | 355269 | 351613 | 353471 | 241222 | 241222 |
| &nbsp;&nbsp;&nbsp;&nbsp;Identified intangible assets, net | 181234 | 189562 | 198339 | 14600 | 16030 |
| Tangible stockholders' equity | $1968278 | $1954886 | $1909205 | $998349 | $982930 |
| Total assets | $22227616 | $23220372 | $22867458 | $11568745 | $11519869 |
| &nbsp;&nbsp;Less: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Goodwill | 355269 | 351613 | 353471 | 241222 | 241222 |
| &nbsp;&nbsp;&nbsp;&nbsp;Identified intangible assets, net | 181234 | 189562 | 198339 | 14600 | 16030 |
| Tangible assets | $21691113 | $22679197 | $22315648 | $11312923 | $11262617 |
| **Tangible stockholders' equity to tangible assets** | **9.07%** | **8.62%** | **8.56%** | **8.82%** | **8.73%** |
| Tangible stockholders' equity | $1968278 | $1954886 | $1909205 | $998349 | $982930 |
| Number of common shares issued | 89576403 | 89576403 | 89576403 | 96998075 | 96998075 |
| &nbsp;&nbsp;Less: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Treasury shares | 5548772 | 5545511 | 5449039 | 7039136 | 7037610 |
| &nbsp;&nbsp;&nbsp;&nbsp;Unvested restricted shares | 211545 | 214806 | 218503 | 854334 | 855860 |
| Number of common shares outstanding | 83816086 | 83816086 | 83908861 | 89104605 | 89104605 |
| **Tangible book value per common share** | $**23.48** | $**23.32** | $**22.75** | $**11.20** | $**11.03** |

---

PDF available: http://ml.globenewswire.com/Resource/Download/af5151f5-3c25-4a4e-bc88-8fb8a731fceb

## Exhibit 99.2

**Exhibit 99.2**

![](exh992_01.jpg)

1Q 2026 Financial Results 1 April 29, 2026

![](exh992_02.jpg)

Forward Looking Statements 2 Certain statements contained in this presentation that are not historical facts may constitute forward - looking statements within the meaning of Section 27 A of the Securities Act of 1933 , as amended, and Section 21 E of the Securities Exchange Act of 1934 , as amended, and are intended to be covered by the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 . The Company may also make forward - looking statements in other documents it files with the Securities and Exchange Commission ("SEC"), in our annual reports to shareholders, in press releases and other written materials, and in oral statements made by our officers, directors or employees . You can identify forward looking statements by the use of the words "believe," "expect," "anticipate," "intend," "estimate," "assume," "outlook," "will," "should," and other expressions that predict or indicate future events and trends and which do not relate to historical matters, including statements regarding the Company's business, credit quality, financial condition, liquidity and results of operations . Forward - looking statements may differ, possibly materially, from what is included in this press release due to factors and future developments that are uncertain and beyond the scope of the Company's control . These include, but are not limited to, changes in interest rates ; general economic conditions (including the impact of ongoing armed conflicts, tariffs, inflation, and concerns about liquidity) on a national basis or in the local markets in which the Company operates ; turbulence in the capital and debt markets ; competitive pressures from other financial institutions ; changes in consumer behavior due to changing political, business and economic conditions, or legislative or regulatory initiatives ; changes in the value of securities and other assets in the Company's investment portfolio ; increases in loan and lease default and charge - off rates ; the adequacy of allowances for loan and lease losses ; decreases in deposit levels that necessitate increases in borrowing to fund loans and investments ; operational risks including, but not limited to, cybersecurity incidents, fraud, natural disasters, and future pandemics ; changes in regulation ; the possibility that future credit losses may be higher than currently expected due to changes in economic assumptions and adverse economic developments ; the risk that goodwill and intangibles recorded in the Company's financial statements will become impaired ; and changes in assumptions used in making such forward - looking statements . Forward - looking statements involve risks and uncertainties which are difficult to predict . The Company's actual results could differ materially from those projected in the forward - looking statements as a result of, among others, the risks outlined in the Company's Annual Report on Form 10 - K, as updated by its Quarterly Reports on Form 10 - Q and other filings submitted to the SEC . The Company does not undertake any obligation to update any forward - looking statement to reflect circumstances or events that occur after the date the forward - looking statements are made . Non - GAAP In addition to financial measures presented in accordance with U . S . generally accepted accounting principles ("GAAP"), this presentation contains certain non - GAAP financial measures, including, without limitation, operating earnings, and the ratios of tangible common equity to tangible assets . The presentation of non - GAAP financial information is not intended to be considered in isolation or as a substitute for any measure prepared in accordance with GAAP . Please see the Earnings Release for certain Non - GAAP reconciliations .

![](exh992_03.jpg)

$0.55 Quarterly GAAP EPS $0.70 (1) Quarterly Operating EPS $0.3225 Quarterly Dividend Per Share Total assets of $22.2 billion. Margin of 3.78%. 1Q includes pretax, one - time costs of $13.0 million associated with the Merger. All merger costs related to the Merger have been fully realized – no further expenses expected. Successfully completed the system conversion in February, with announced synergies fully realized going forward. Board authorizes $50 million stock buyback pending regulatory approval. (1) See page 5 and our Press Release for details. Improved Operating Performance excluding full cost savings. 1Q ROA of 1.01% and ROTE of 11.24% (1). Fortress Balance Sheet / Asset Quality Loans to Deposits of 98%. NPA's to total assets of 0.68%. Reserve to Loans coverage of 1.36%. Total Risk Based Capital of 13.3% and Tangible Common Equity (TCE) of 9.1%. 3

![](exh992_04.jpg)

Summary Income Statement Net Income of $46.2 million or $0.55 per share. Net interest income declined $8.9 million from prior quarter due to lower average earning assets and slightly lower net interest margin. Noninterest income declined $2.0 million from prior quarter primarily driven by decreases in deposit fees and lower gain on sales of loans. Noninterest expense increased $0.4 million from prior quarter due to higher seasonal costs and true up of FDIC expense. Provision for credit losses decreased $0.2 million from prior quarter. . Year over Year (YoY) Linked Quarter (LQ) %Δ 1Q25 Δ %Δ Δ 1Q26 4Q25 $m, except per share amts 122% $85.8 $105.0 - 4% $(8.9) $190.8 $199.7 Net interest income 320% 5.7 18.2 - 8% (2.0) 23.9 25.9 Noninterest income - - - - - - Security gains (losses) - 135% 123.2 91.5 - 5% (10.9) 225.6 Total Revenue 214.7 107% 61.9 57.6 0% 0.4 119.1 119.5 Noninterest expense 495% 6.9 1.4 - 5% (0.5) 8.8 8.3 Amortization of intangibles 1203% 12.0 1.0 - 10% (1.4) 14.4 13.0 Restructuring/Merger exp. 135% 42.4 31.5 - 11% (9.4) 83.3 73.9 Pretax, Preprov. Net Rev 32% 1.9 6.0 - 2% (0.2) 8.1 7.9 Provision for credit losses 159% 40.5 25.5 - 12% (9.2) 75.2 66.0 Pretax income 208% 13.3 6.4 - 9% (2.1) 21.8 19.7 Provision for taxes 142% $27.1 $19.1 - 13% $(7.2) $53.4 $46.2 Net Income 162% $0.34 $0.21 - 14% $(0.09) $0.64 $0.55 EPS - 6% (5,665) 89,568 0% 25 83,878 83,903 Avg diluted shares (000s) 0.18% 0.66% - 0.10% 0.94% 0.84% Return on Assets 1.48% 7.82% - 1.89% 11.19% 9.30% Return on Tangible Equity 0.56% 3.22% - 0.04% 3.82% 3.78% Net Interest Margin - 0.02% 65.60% 2.49% 63.09% 65.58% Efficiency Ratio 4

![](exh992_05.jpg)

Operating Earnings – GAAP versus non - GAAP 5 1Q Operating Earnings of $0.70 excludes merger charges. Tax rate utilized was 26.1%, consistent with rate forecasted for remainder of 2026. No further merger charges expected. Operating Non - Core GAAP $m, except per share amts $190.8 $190.8 $- Net interest income 23.9 23.9 - Noninterest income - - - Security gains (losses) 214.7 214.7 - Total Revenue 119.5 119.5 - Noninterest expense 8.3 8.3 - Amortization of intangibles - 13.0 (13.0) Merger expense 86.9 13.0 73.9 Pretax, Preprov. Net Rev. 7.9 7.9 - Provision for credit losses 79.0 13.0 66.0 Pretax income 20.6 0.9 19.7 Provision for taxes $58.4 $12.1 $46.2 Net Income $0.70 EPS $0.55 $0.14 83,903 Avg diluted shares (000s) 83,903 83,903 1.01% 0.84% Return on Assets 11.24% 9.30% Return on Tangible Equity 3.78% 3.78% Net Interest Margin 59.52% 65.58% Efficiency Ratio 1Q26

![](exh992_06.jpg)

Margin – Yields and Costs Yield Interest Avg Bal $ millions 5.96% $267.9 $17,975 Loans 3.94% 26.1 2,648 Investments & earning cash 5.70% $294.0 $20,623 Interest Earning Assets 2.57% $93.1 14,681 Interest bearing deposits 4.87% 8.6 702 Borrowings 2.68% $101.6 $15,383 Interest Bearing Liabilities 3.02% Net interest spread Yield Interest Avg Bal 6.30% $286.9 $18,205 4.03% 27.4 2,727 6.01% $314.3 $20,932 2.74% $102.4 14,822 4.82% 10.4 844 2.86% 3.15% $112.8 $15,666 Yield Interest Avg Bal - 0.34% $(19.0) $(230) - 0.09% (1.3) (79) - 0.31% $(20.3) $(309) - 0.17% $(9.3) $(141) 0.05% (1.8) (142) - 0.18% - 0.13% $(11.2) $(283) Purchase Accounting\* Yield Interest 0.21% $9.3 0.65% 4.3 0.26% $13.6 0.03% $1.1 0.17% 0.3 0.04% 0.23% $1.4 1Q26 Prior Quarter LQΔ Net interest income, TEB / Margin $192.4 3.78% $201.5 3.82% $(9.1) - 0.04% $12.2 0.24% - $12.2 \* quarterly accretion / amortization of interest rate marks. LESS: Tax Equivalent Basis (TEB) Adj. 1.6 Net Interest Income $190.8 1.8 (0.2) 199.7 $(8.9) $ YoY Chg LQ Chg 3/31/2026 12/31/2025 9/30/2025 6/30/2025 3/31/2025 Rate Environment - 0.75% 0.00% 3.75% 3.75% 4.25% 4.50% 4.50% Fed Funds (upper) - 0.73% - 0.19% 3.68% 3.87% 4.24% 4.45% 4.41% SOFR - 0.10% 0.32% 3.79% 3.47% 3.60% 3.72% 3.89% 2Y Treasury - 0.04% 0.19% 3.92% 3.73% 3.74% 3.79% 3.96% 5Y Treasury 0.07% 0.12% 4.30% 4.18% 4.16% 4.24% 4.23% 10Y Treasury 6

![](exh992_07.jpg)

Summary Balance Sheet primarily to seasonal tax payments and commercial flows. %Δ Δ 1Q25 Δ 4Q25 1Q26 $m, except per share amts 86% $8,281 $9,643 $(106) $18,030 $17,924 Gross Loans, investment 97% (120) (124) 9 (253) (244) Allowance for loan losses 86% 8,161 9,519 (97) 17,777 17,680 Net Loans 1,719 1,113 537 1,180 1,688 2,042 541 1,172 31 (929) (4) 8 882 358 257 504 837 755 280 676 95% 211% 109% 134% Securities Cash & equivalents Intangibles Other assets & Loans, HFS Total Assets Total assets declined $992 million driven by lower loan balances and point - in - time payroll fulfillment deposits impacting cash equivalents. Total loans declined in the quarter reflecting runoff in commercial real estate and 93% consumer loans. Deposits declined primarily due to payroll fulfillment deposits and brokered deposits. $22,228 $23,220 $(992) $11,520 $10,708 105% $9,381 $8,911 $(1,223) $19,515 $18,292 Deposits - 7% (83) 1,156 285 788 1,073 Borrowings 231% 12 5 3 14 17 Reserve for unfunded loans 64% 133 208 (66) 407 341 Other Liabilities Core customer deposits 92% 9,443 10,280 (1,001) 20,724 19,723 Total Liabilities declined $265 million due 102% 1,265 1,240 9 2,496 2,505 Stockholders' Equity 93% $10,708 $11,520 $(992) $23,220 $22,228 Total Liabilities & Equity 113% $12.45 $11.03 $0.16 $23.32 $23.48 TBV per share - 6% (5,289) 89,105 0 83,816 83,816 Actual shares outstanding (000) 0.34% 8.73% 0.45% 8.62% 9.07% Tang. Equity / Tang. Assets - 10.22% 108.21% 5.60% 92.39% 97.99% Loans / Deposits 0.07% 1.29% - 0.04% 1.40% 1.36% ALLL / Gross Loans Linked Quarter (LQ) Year over Year (YoY) 7

![](exh992_08.jpg)

Loans and Deposits 56% 16% 6% 22% Loans CRE C&I Equipment Consumer 21% 8% 17% 24% 22% 7% 1% Deposits NOW CDs Savings Payroll DDA MM Brokered $ millions 1Q26 4Q25 Δ $9,957 2,938 1,074 3,955 $10,012 $2,785 1,163 4,070 (55) 153 (89) (115) CRE Commercial Equipment Finance Consumer Total Loans $17,924 $18,030 $(106) Demand deposits NOW Savings Money market CDs Payroll deposits Brokered deposits Total Deposits $3,861 1,521 3,089 4,393 4,086 1,214 129 $4,032 1,446 2,954 4,626 4,157 1,890 410 $(171) 75 135 (233) (71) (676) (281) $18,292 $19,515 $(1,223) 16,949 Customer deposits\* $\*Excludes Payroll and Brokered deposits $17,215 $(266) Linked Quarter (LQ) LOANS DEPOSITS 8

![](exh992_09.jpg)

Capital Strength 9 preliminary estimates\* Capital in Excess of "Well Capitalized" Beacon Board Policy Limits Regulatory BASEL III Requirements Regulatory Capital Buffer $ Regulatory Capital Buffer % Operating Targets Policy Minimums "Well Capitalized" Minimum Mar - 26 $ millions $863.4 4.7% ≥ 8.0% ≥ 7.5% ≥ 6.5% ≥ 4.5% 11.2% Tier 1 Common / RWA $620.4 3.4% ≥ 9.5% ≥ 9.0% ≥ 8.0% ≥ 6.0% 11.4% Tier 1 / RWA $597.0 3.3% ≥ 11.5% ≥ 11.0% ≥ 10.0% ≥ 8.0% 13.3% Total Risk Based Capital $995.0 4.6% ≥ 6.5% ≥ 6.0% ≥ 5.0% ≥ 5.0% 9.6% Leverage Ratio \* Regulatory capital ratios are preliminary estimates and may differ from numbers calculated in final Regulatory filings. $0.3225 Quarterly Dividend Per Share 46% payout based on 1Q'26 Operating EPS 4.3% Current Dividend Yield\*\* \*\* Based on annual dividend of $1.29 and stock price of $30.00 (close 03/31/26) 327% ICRE / Total RBC The Board of Directors announced a dividend of $0.3225 per share payable May 29, 2026 to stockholders of record on May 15, 2026. In addition, the Board approved a $50 million stock buyback program. 26% Construction / Total RBC

![](exh992_10.jpg)

Outlook 10 Our current Base Case does not factor potential rate cuts in 2026. The regional economy continues to perform well however, higher longer - term interest rates and uncertainty has materially slowed investment activity and loan demand. FORWARD LOOKING Expect loan growth to be in the low single digits for the remainder of the year driven by strong C&I lending. Dependent on economic activity. Loans The net interest margin is expected to stabilize in the range of 3.80%. Accretion from the purchase accounting will be in the range of $12 million per quarter and will fluctuate due to prepayment activity. Margin Credit costs are expected to trend lower and range from $5 - 9 million per qtr. Credit Modest fee income growth in the mid - single digits is anticipated. Fees The core system conversion occurred in February 2026 and is on target to meet original operating expense targets in 2Q26. No additional merger related charges are expected for the remainder of 2026. Expenses The effective tax rate is currently estimated in the range of 26% for the remainder of 2026. Taxes 26 After tax\* COST SYNERGIES AT ANNOUNCEMENT: 20 (12/16/24 merger presentation: page 29) Pretax $410.1 $546.8 Combined Operating Expense (51.7) (68.9) Cost Savings @ 12.6% 0.8 1.1 Branding costs $10.8 / 10y deprec. $359.2 $479.0 Proforma Operating Expense $89.8 $119.8 Quarterly run rate - 2Q 2026 \* Effective tax rate 25%.

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APPENDIX NYSE: BBT 11

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Non Performing Assets and Net Charge Offs 12 Non - accrual loans increased by $34.5MM, largely driven by two larger CRE credits - an $18MM office loan in Boston, and two multifamily rent - controlled loans totaling $9MM in the Bronx, NY. Net Charge - offs increased QoQ by $4.5MM, largely driven by a charge - off taken on a Boston office loan that was fully reserved for in prior quarters. C&I NCO's primarily driven by charge - offs taken on two loans; an SBA loan and an Eastern Funding industrial laundry relationship. Both charge offs were fully reserved for. Δ 1Q25 Δ 4Q25 1Q26 Non Performing Assets (NPAs), in millions $60.7 $17.4 $32.8 $45.3 $78.1 CRE 20.9 40.4 1.9 59.4 61.3 C&I 3.9 5.3 (0.2) 9.4 9.2 Consumer 85.5 63.1 34.5 114.1 148.6 Total Non Performing Loans (NPLs) (0.7) 0.7 - - - Other real estate owned 2.4 0.2 2.6 2.6 - Other repossessed assets $87.2 $64.0 $34.5 $116.7 $151.2 Total NPAs 0.18% 0.65% 0.20% 0.63% 0.83% NPLs / Total Loans 0.12% 0.56% 0.18% 0.50% 0.68% NPAs / Total Assets Net Charge Offs (NCOs), in millions $7.0 $- $0.4 $6.6 $7.0 CRE loans (1.0) 7.6 3.8 2.8 6.6 C&I loans (0.1) - 0.3 (0.4) (0.1) Consumer loans $5.9 $7.6 $4.5 $9.0 $13.5 Total Net Charge Offs - 0.01% 0.31% 0.10% 0.20% 0.30% NCOs / Avg. Loans (annualized) Linked Quarter (LQ) Year over Year (YoY) Amounts as presented may differ slightly from the Company's Earnings Release due to rounding to foot schedules presented.

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$7,937 $3,720 $2,312 $3,955 Investment CRE 44% Commercial Core 21% Specialty Lending 13% Retail 22% Perm Constr Total % NAICS Total % Vertical Total % Call Code Total % 79% $3,141 Resi 1st Mtg 34% $782 ABL 14% $513 Food & Lodging 31% $2,440 $293 $2,147 MultiFamily 1% 27 Resi Jr Mtg 40% 933 EF Core 14% 506 RE Agent / Broker 17% 1,361 9 1,352 Retail 17% 656 Resi Heloc 7% 166 EF Vehicle 12% 427 Health and Social 2% 137 - 137 Restaurant Consumer 131 3% 6% 141 EF Macrolease 11% 425 Manufacturing 13% 1,049 43 1,006 Office 100% $3,955 Total 12% 273 44BC 11% 390 Professional 14% 1,090 39 1,051 Industrial Firestone 17 1% 9% 341 Retail 7% 542 23 519 Hospitality Total $2,312 100% 8% 313 Finance and Ins 6% 462 51 411 Healthcare 6% 227 Wholesale Trade 2% 198 16 182 Lab 6% 222 Arts, Entertainment 8% 658 139 519 Other 5% 196 Other Services 100% $7,937 $613 $7,324 Total 3% 128 Construction 1% 32 Trans / Warehouse Total $3,720 100% Owner Occupied CRE included in Commercial and Equipment Finance Total Loans Outstanding: 17,924 $ Balances shown are loan book balances, net of acquisition marks. 13 Major Loan Segments with Industry Breakdown 1Q26 EF Vehicle, EF Macrolease, and Firestone have discontinued new originations.

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1Q26 Non - Owner Occupied CRE and Multifamily Exposures at March 31, 2026 39% 51% 7% 3% 14 Investment CRE Loan to Value (LTV)

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13% 13% 17% Investment CRE by Maturity 1Q26 Non - Owner Occupied CRE and Multifamily Exposures at March 31, 2026 11% 46% 15

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● Office CRE portfolio totals ~$1.2B or 6.5% of Total Loans. ● Continue to manage the risk of the portfolio with NPLs of ~3.7% and NCOs of ~$6.9MM in 1Q26, which was fully reserved. ● No meaningful exposure to any major metropolitan areas other than Boston, which represents ~18% of the portfolio, roughly half of which would be considered CBD (Commercial Business District) or CBD adjacent. ● Majority of portfolio (~53%) is Class B Office space. ● Weighted Average Loan - to - Value is ~55%. ● Weighted Average Debt Service Coverage is ~1.5x. ● Top 20 loans are ~38% of the total CRE Office portfolio Office Portfolio & Asset Quality Office Portfolio Metrics Suburban, 62% Urban, 30% Rural, 8% 2026, 24% 2027, 12% 2028, 12% 2029 & After, 52% Maturity Schedule ~98% of portfolio is within footprint and 62% is Suburban Majority of portfolio (~64%) matures after 2027 Office Portfolio, includes Construction 1Q26 1Q26 4Q25 % $% $($ in millions) 4% $41.9 4% $43.0 CRE Office: Construction 9% $109.8 9% $108.3 CRE Office: Owner Occupied 87% $1,013.1 87% $1,006.1 CRE Office: Non - Owner Occupied Total CRE Office $1,157.5 100% $1,164.8 100% 16 Non - Accrual $ Criticized $ ortfolio Avg Size 1Q26 P $($ in millions) $8.7 $91.5 $6.7 $473.7 Class A $33.7 $99.8 $1.7 $615.5 Class B $0.9 $1.0 $1.7 $68.2 Class C $43.2 $192.3 $2.5 $1,157.5

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● Majority of repricing risk is centered within the Fixed to Floating repricing schedule . Potential refinance risk may be experienced at maturity . ● $2.8B of the $7.3B portfolio will mature or reprice within 24 months. ● Well balanced maturity / repricing profile and rate type profile. ● 2Q 2026 maturities or reprices represents $261MM of maturities, and $51MM in repricing; of which ~14% are Criticized due to one Industrial credit. The allowance for this loan is based upon current market valuations. Rate Type Fixed, 32% Fixed via Swap, 25% Floating, 21% Fixed to Floating, 22% 2026, 11% 2027, 18% 2028, 21% 2029 & After, 50% Maturity / Repricing Investment CRE Maturity and Repricing excludes Construction 1Q26 17

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Securities Portfolio 1Q26 UST 24% 18 Agency 10% Corp 2% MBS 19% CMO 32% Municipals 13% Duration Book Yield Unreal. G/L Fair Value Book Value Current Par $ in millions 2.2 2.81% $(14) $405 $419 $420 U.S. Treasuries 3.0 2.60% (12) 180 193 189 Agency Debentures 0.7 6.03% 1 36 35 37 Corp Bonds 5.3 3.78% (10) 322 332 366 Agency MBS 5.7 4.26% (10) 546 556 642 Agency CMO 6.4 5.11% 3 229 226 251 Municipals/Other 4.5 3.79% $(43) $1,719 $1,761 $1,906 Total Highly liquid, risk averse securities portfolio with prudent duration and minimal extension risk. The entire investment portfolio is classified as Available for Sale. The after tax, mark to market on the portfolio is included in Accumulated Other Comprehensive Income in Stockholders' Equity. Total OCI represents a reduction in stockholders' equity of 1.2%.

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Interest Rate Risk 1Q26 Float (< 3 m) 67 % Adj. 12% Fixed 21% Loan Originations, $734 million, 6.28% coupon Total Loan Portfolio Mix – Duration 1.5 - 0.43% - 0.87% - 1.32% - 1.78% 0.07% 0.06% 0.05% - 0.01% 0.87% 1.71% 2.58% 3.44% Cumulative Net Interest Income Change by Quarter 3/31/2026 Flat Balance Sheet , simulations reflect a product weighted down beta of ~55% on total interest bearing deposits. Excludes impact of purchase accounting. - 100bps Ramp Forward - Implied Rates +200bps Ramp Float (< 3 m) 36 % 19 Adj. 29% Fixed 35% 3Q26 4Q26 1Q27 2Q26 Accretion related to loan purchase accounting is held constant in each scenario. The impact of changes in loan prepayments on accretion is not reflected at this time. Amounts as presented may differ slightly from the Company's Earnings Release due to rounding to foot schedules presented.

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Wealth Management %Δ Δ 4Q25 1Q26 $ thousands 3% $133 $3,928 $4,061 Asset based revenue Other revenue: - 22% (99) 443 344 Insurance commission revenue 1% 34 $4,371 $4,405 Total reported revenue Linked Quarter (LQ) $3,352 20 $3,347 $3,338 3Q 2025 4Q 2025 1Q 2026 $ in Millions Assets Under Management

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NYSE: BBT 21