Beacon Financial Corporation · NYSE:BBT
Beacon Financial — IPO Roadshow (August 2026)
32 slides from Beacon Financial's IPO roadshow presentation, Aug 17, 2026
Slide 1: August 2026 Fixed Income Investor Presentation
August 2026 Fixed Income Investor Presentation
Slide 2: Disclaimer
Disclaimer 2 In this presentation, "we," "our," "us," “Beacon,” “HoldCo” or the "Company" refers to Beacon Financial Corporation and its consolidated subsidiaries, including Beacon Bank & Trust (the “Bank”), unless the context indicates otherwise. Forward-Looking Statements Certain statements contai
Slide 3: Today's Presenters
Today’s Presenters Benjamin Hoffman Director of Credit Strategy and Analytics Mr. Hoffman has served as the Director of Credit Strategy and Analytics of Beacon Bank since the merger between Brookline Bancorp, Inc. and Berkshire Hills Bancorp, Inc. in 2025. Previously, Mr. Hoffman served as the Direc
Slide 4: Table of Contents
Table of Contents Offering Summary The Beacon Franchise Financial Performance Loan Portfolio & Asset Quality Funding & Liquidity Appendix 1 2 3 4 5 6 4
Slide 5: Offering Summary
1 Offering Summary 5
Slide 6: Offering Summary
* An explanation of the significance of ratings may be obtained from the rating agency. Generally, rating agencies base their ratings on such material and information, and such of their own investigations, studies and assumptions, as they deem appropriate. The rating of the subordinated notes should
Slide 7: The Beacon Franchise
2 The Beacon Franchise 7
Slide 8: Beacon Financial Snapshot
Source: S&P Global Market Intelligence and Company Filings. (1) Represents a Non-GAAP financial measure. See Non-GAAP Financial Measures included in Appendix for a reconciliation to this measure’s most directly comparable GAAP financial measure. Beacon Financial Snapshot Beacon Branch Footprint Beac
Slide 9: 6/30/2026 Review
6/30/2026 Review 6/30/2026 vs. 3/31/2026 Highlights Profitability Yields / Funding Capital 6/30/2026 Diluted EPS $0.77 Net Income $64.4 ROATE(1) 12.8% ROAA 1.17% vs. 0.84% Efficiency Ratio 58.1% vs. 65.6% NIM 3.81% vs. 3.78% Loans / Deposits 96.4% vs. 98.0% Yield on Earning Assets 5.76% vs. 5.70% Co
Slide 10: Investment Highlights
Investment Highlights 10 Experienced management team — combination of Brookline and Berkshire Hills veterans, led by CEO Paul A. Perrault Combined scale — the 2025 merger of equals created a leading $22.3B Northeast franchise, 145 branches across MA, NY, RI, CT & VT Prudent credit management — histo
Slide 11: Financial Performance
3 Financial Performance 11
Slide 12: Profitability
(1.3%) 11.2% 9.3% 12.8% 56.6% 52.8% 55.6% 54.3% 91.6% 63.1% 65.6% 58.1% ($0.05) $0.64 $0.55 $0.77 $0.38 $0.79 $0.70 $0.77 (0.11%) 0.94% 0.84% 1.17% Profitability Return on Average Assets (“ROAA”) 12 Figures shown as of or for the stated fiscal quarter end (unaudited) 9/30/2025 12/31/2025 3/31/2026 6
Slide 13: Capital Position
12.5% 13.0% 13.3% 13.6% 10.4% 11.0% 11.2% 11.6% 10.6% 11.1% 11.4% 11.7% 8.56% 8.62% 9.07% 9.25% Source: S&P Global Market Intelligence and Company Filings. (1) Represents a Non-GAAP financial measure. See Non-GAAP Financial Measures included in Appendix for a reconciliation to this measure’s most di
Slide 14: Loan Portfolio & Asset Quality
4 Loan Portfolio & Asset Quality 14
Slide 15: Loan Portfolio: Commercial Segment in Focus
55% 22% 17% 6% Loan Portfolio: Commercial Segment in Focus Portfolio Highlights 6/30/2026 Loan Composition o Portfolio review: Granular, diversified loan portfolio undergoing a simultaneous de-risking in CRE concentration levels and an expansion in commercial lending that has meaningfully outpaced o
Slide 16: Loan Portfolio Segment Detail
Investment CRE 44% Commercial Core 21% Specialty Lending 13% Retail 22% Segment Perm Constr Total % NAICS Total % Vertical Total % Call Code Total % Multifamily $2,240 $160 $2,400 31% RE Agent / Broker $600 16% ABL $788 35% Resi 1st Mtg $3,138 79% Retail 1,321 3 1,324 17% Food and Lodging 552 15% EF
Slide 17: Investment CRE by Loan-to-Value
39% 36% 35% 39% 34% 38% 39% 62% 50% 51% 56% 55% 49% 59% 56% 33% 29% 42% 8% 6% 6% 5% 4% 6% 13% 6% 8% 3% 2% 4% 6% 3% 14% 2% Multifamily Retail Industrial Office Hospitality Healthcare Lab Restaurant Other 17 Investment CRE by Loan-to-Value (LTV) Source: Beacon Financial Corporation 6/30/2026 Earnings
Slide 18: Investment CRE by Maturity
5% 8% 9% 23% 9% 10% 30% 9% 12% 16% 12% 19% 13% 22% 23% 44% 5% 15% 11% 19% 16% 14% 22% 11% 16% 6% 9% 11% 13% 9% 12% 8% 6% 3% 7% 19% 57% 48% 47% 39% 39% 50% 7% 73% 45% Multifamily Retail Industrial Office Hospitality Healthcare Lab Restaurant Other Source: Beacon Financial Corporation 6/30/2026 Earnin
Slide 19: Office Portfolio & Asset Quality
54% 21% 12% 13% 63% 29% 8% Office Portfolio Source: Beacon Financial Corporation 6/30/2026 Earnings Presentation. Includes construction loans. 19 Note: Totals may not sum due to rounding. o Office CRE portfolio totals $1.2B or 6.6% of total loans o Continue to manage the risk of the portfolio with N
Slide 20: Investment CRE Maturity and Repricing
Fixed-to-Floating 9% 17% 20% 54% $92 $93 $172 $76 $67 $146 $51 $67 $137 $144 $38 $20 $82 $60 $51 $65 $47 $18 $55 $109 $50 $65 $65 $38 $17 $35 $46 $163 $140 $148 $137 $83 $130 $127 $134 9/30/2026 12/31/2026 3/31/2027 6/30/2027 9/30/2027 12/31/2027 3/31/2028 6/30/2028 32% 26% 21% 21% Investment CRE Ma
Slide 21: Non-Performing Assets and Net Charge-Offs
Non-Performing Assets and Net Charge-Offs 21 Asset Quality Highlights o The $14.3M in net charge-offs was primarily driven by a Boston office loan, a large industrial laundry loan at Eastern Funding, and two rent-controlled multifamily properties. These charge-offs were largely specifically reserved
Slide 22: Funding & Liquidity
5 Funding & Liquidity 22
Slide 23: Deposit Portfolio: Built on Quality Relationships
39.4% 38.9% 40.9% 40.6% 21.8% 21.3% 22.3% 22.0% 20.6% 20.7% 21.1% 21.2% 7.8% 7.4% 8.3% 8.5% 89.7% 88.3% 92.7% 92.2% Segment Balance Demand Checking $3,911 NOW 1,570 Savings & Money Market 7,497 Certificates of Deposit 4,065 Customer Deposits $17,042 Payroll Deposits 1,212 Brokered Deposits 231 Total
Slide 24: Strong Liquidity Profile
Short-Term Investments $1.0B Cash & Due From Banks $0.2B Unencumbered Securities $0.5B FHLB $3.6B Other Available Lines $0.4B Federal Reserve Discount Window Capacity $0.6B 20% 29% 32% 37% 26% 24% 24% 20% 19% 19% 18% 17% 14% 14% 13% 13% 19% 10% 10% 11% 3% 2% 2% 1% $1.7 $1.7 $1.7 $1.8 Strong Liquidit
Slide 25: Appendix
6 Appendix 25
Slide 26: Credit Ratings and Debt Summary
Credit Ratings and Debt Summary Debt Maturity Profile Term Entity Rank Maturity Date Next Call Date Amount Front-End Coupon Back-End Coupon Current Coupon 30-Year HoldCo Subordinated 6/26/2033 9/25/2026 $4,941 — 3M SOFR + 310bps Floating 30-Year HoldCo Subordinated 3/17/2034 9/17/2026 4,912 — 3M SOF
Slide 27: Quarterly Balance Sheet and Profitability Summary
Figures shown as of or for the stated fiscal quarter end | Dollars shown in millions (unaudited) 27 Source: S&P Global Market Intelligence and Company Filings. (1) Represents a Non-GAAP financial measure. See Non-GAAP Financial Measures included in Appendix for a reconciliation to this measure’s mos
Slide 28: Reconciliation of Non-GAAP Measures: TCE / TA
28 Reconciliation of Non-GAAP Measures Tangible Common Equity to Tangible Assets (“TCE / TA”) Source: S&P Global Market Intelligence and Company Filings. Figures shown as of or for the stated fiscal quarter end | Dollars shown in thousands (unaudited) As of the Fiscal Quarter Ended 9/30/2025 12/31/2
Slide 29: Reconciliation of Non-GAAP Measures: Non-GAAP EPS
As of or for the Fiscal Quarter Ended 9/30/2025 12/31/2025 3/31/2026 6/30/2026 BBT BBT BBT BBT GAAP Net Income ($4,221) $53,366 $46,217 $64,426 Reported Pretax Income ($8,401) $75,187 $65,953 $87,017 ( + ) Merger & Restructuring Expense 45,863 14,424 13,025 — ( + ) Merger Day 1 CECL Provision on unf
Slide 30: Return on Average Tangible Equity
30 Return on Average Tangible Equity (“ROATE”) Source: S&P Global Market Intelligence and Company Filings. Reconciliation of Non-GAAP Measures (Continued) Figures shown as of or for the stated fiscal quarter end | Dollars shown in thousands (unaudited) As of or for the Fiscal Quarter Ended 9/30/2025
Slide 31: Reconciliation of Non-GAAP Measures: Efficiency Ratio
As of or for the Fiscal Quarter Ended 9/30/2025 12/31/2025 3/31/2026 6/30/2026 BBT BBT BBT BBT GAAP Non-interest Expense $129,296 $142,366 $140,822 $127,256 ( - ) Merger & Restructuring Expense 45,863 14,424 13,025 — Non-GAAP Non-interest Operating Expense $83,433 $127,942 $127,797 $127,256 ( - ) In
Slide 32: Double Leverage and Historical Interest Coverage
32 Double Leverage and Historical Interest Coverage Figures shown as of or for the stated fiscal quarter end | Dollars shown in thousands (unaudited) Source: S&P Global Market Intelligence and Company Filings. (1) Estimated consolidated pro forma figures reflective of a $125 million subordinated deb