Beacon Financial delivered net income of $46.2 million (EPS $0.55) for Q1, down from $53.4 million (EPS $0.64) in Q4 2025 but up from $19.1 million (EPS $0.21) in Q1 2025. Operating earnings reached $58.4 million (EPS $0.70), reflecting merger synergies and the recent core system conversion.

Total assets fell by $1.0 billion to $22.2 billion from December 31, 2025, driven by lower cash balances, while loans and leases decreased $105.4 million to $17.9 billion due to reduced commercial real estate and consumer lending. Deposits declined $1.2 billion seasonally, offset by a $9.4 billion increase versus year-ago levels from the merger.

The provision for credit losses was $7.9 million, with net charge-offs rising to $13.6 million from $9.0 million in Q4, driven by resolutions on large office and equipment loans. The nonperforming loan ratio increased to 0.83%, and the allowance for loan losses represented 1.36% of total loans.

The board approved a $50 million stock buyback program and declared a quarterly dividend of $0.3225 per share. Tangible book value per share rose to $23.48, and the equity-to-assets ratio improved to 11.27%, bolstering capital strength.