- **Deacon Financial Corporation**, formed by the merger of Brookline Bancorp and Berkshire Hills Bancorp on **September 1, 2025**, reported **Q3 2025 operating earnings of approximately $38.5 million, or $0.44 per share**, before merger expenses and special charges, and a **GAAP loss of $56 million, or $0.64 per share**.  **[0001108134_2217366_1]** **[0001108134_2217366_2]** 
- The combined entity concluded Q3 2025 with **$23 billion in assets, $19 billion in deposits, and $18 billion in loans**.  **[0001108134_2217366_1]** 
- The board approved an increase in the quarterly dividend to **$0.3225 per share**, translating to an annual dividend of **$1.29 per share** and a **5.4% dividend yield**.  **[0001108134_2217366_3]** 
- The company expects remaining deal-related charges of **$22 million to $24 million** for Q4 2025 and Q1 2026, and anticipates quarterly provisions for credit losses to be in the range of **$5 million to $9 million**.  **[0001108134_2217366_4]** **[0001108134_2217366_3]** 
- Management also estimates purchase accounting accretion to be **$15 million to $20 million per quarter** and plans to explore balance sheet and capital structure optimization, including potential sub-debt refinancing in **2026**.  **[0001108134_2217366_2]** **[0001108134_2217366_9]** **[0001108134_2217366_8]**

Deacon Financial Corporation Reports Q3 2025 Results and Merger Update

- BBT successfully closed its merger of equals in Q3 2025, leading to **total assets of $22.8 billion** and incurring **$129.8 million** in pretax, one-time costs associated with the merger.  **[0001108134_2216087:4]** **[0001108134_2216087:9]** 
- For Q3 2025, the company reported a **GAAP EPS of ($0.64)** and a **Quarterly Operating EPS of $0.44**, with a GAAP net loss of **($56.3 million)**.  **[0001108134_2216087:4]** **[0001108134_2216087:6]** **[0001108134_2216087:7]** 
- The merger significantly impacted the balance sheet, with total deposits increasing by **$9,943 million** to **$18,904 million** and total loans increasing by **$8,660 million** to **$18,242 million** compared to Q2 2025.  **[0001108134_2216087:9]** 
- The net interest margin improved to **3.72%** in Q3 2025, and management expects it to expand further to **3.90-4.00%**.  **[0001108134_2216087:4]** **[0001108134_2216087:6]** **[0001108134_2216087:13]** 
- The company anticipates credit costs to trend lower, ranging from **$5-9 million per quarter**, while merger-related charges are projected to continue through **Q1 2026**.  **[0001108134_2216087:13]**

BBT Reports Q3 2025 Results Following Merger Completion

- Beacon Financial Corporation reported a **net loss of $(56.3) million**, or **$(0.64) per basic share**, for the third quarter of 2025, primarily due to **$129.8 million in pre-tax one-time costs** associated with its merger.  **[1108134_0001108134-25-000017_brkl-20250930xpressrelease.htm:0]** 
- Excluding these one-time costs, operating earnings (non-GAAP) for Q3 2025 were **$38.5 million**, or **$0.44 per diluted share**.  **[1108134_0001108134-25-000017_brkl-20250930xpressrelease.htm:0]** 
- The company was formed through the **completion of a merger of equals** between Berkshire Hills Bancorp, Inc. and Brookline Bancorp, Inc., effective **September 1, 2025**.  **[1108134_0001108134-25-000017_brkl-20250930xpressrelease.htm:0]** 
- As of September 30, 2025, Beacon Financial Corporation reported **total assets of $22.8 billion**.  **[1108134_0001108134-25-000017_brkl-20250930xpressrelease.htm:2]** 
- The Board of Directors approved a quarterly dividend of **$0.3225 per share** for Q3 2025.  **[1108134_0001108134-25-000017_brkl-20250930xpressrelease.htm:0]** **[1108134_0001108134-25-000017_brkl-20250930xpressrelease.htm:4]**

Beacon Financial Corporation Reports Q3 2025 Net Loss Driven by Merger Costs and Announces Merger Completion

- Beacon Financial Corporation reported a **net loss of $(56.3) million**, or **$(0.64) per basic share**, for the third quarter of 2025, compared to net income of $22.0 million for the second quarter of 2025.  **[1108134_20251029NE09654:0]** 
- Excluding **$129.8 million in pre-tax one-time costs** associated with the merger, operating earnings for Q3 2025 were **$38.5 million**, or **$0.44 per diluted share**.  **[1108134_20251029NE09654:0]** 
- The merger of equals with Berkshire Hills Bancorp, Inc. was completed on **September 1, 2025**.  **[1108134_20251029NE09654:0]**  As a result, total assets at September 30, 2025, were **$22.8 billion**, total loans and leases were **$18.2 billion**, and total deposits were **$18.9 billion**.  **[1108134_20251029NE09654:2]** **[1108134_20251029NE09654:8]** 
- The company declared a **quarterly dividend of $0.3225**.  **[1108134_20251029NE09654:0]**

Beacon Financial (BBT)