Beacon Financial Corp offers subordinated notes due 2036 with fixed-to-floating rate structure

Filed August 17, 2026 · ~2 min read

Key Changes

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  Beacon Financial Corp is offering subordinated notes maturing in 2036 with a fixed interest rate through 2031, then floating at Three-Month Term SOFR plus a spread. Specific offering amount, fixed rate, and spread are not disclosed in this excerpt.

  The Offering verify on EDGAR →
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  Net proceeds will repay $75 million principal of existing 2029 Notes (currently paying Three-Month Term SOFR plus 3.58%) plus accrued interest, with remainder for general corporate purposes. The redemption is committed regardless of offering size.

  Use of Proceeds verify on EDGAR →
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  The notes rank junior to all senior debt (none currently outstanding) and equally with $175 million of existing subordinated debt including 2029 Notes assumed from the Brookline merger. They rank senior to $33.7 million of junior subordinated debentures.

  The Offering verify on EDGAR →