Beacon Financial priced $175 million of 6.25% Fixed-to-Floating Rate Subordinated Notes due 2036.
The offering closed Aug. 20, 2026 under an underwriting agreement.
The coupon is fixed at 6.25% through Sept. 1, 2031; after that, it resets quarterly to three-month term SOFR + 2.15%.
The notes are redeemable at par from Sept. 1, 2031; earlier whole-call redemption is allowed on tax or Tier 2 capital events, subject to Federal Reserve approval.
The notes are intended to qualify as Tier 2 capital and are subordinated to senior debt and effectively subordinated to liabilities of the bank subsidiary.
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