Beacon Financial prices $175M subordinated notes at 6.25% fixed-to-floating, due 2036

Filed August 19, 2026 · ~2 min read

Key Changes

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  Beacon Financial Corp is offering $175 million of 6.25% fixed-to-floating rate subordinated notes due 2036 at par. The notes pay 6.25% annually until September 1, 2031, then switch to Three-Month Term SOFR plus 215 basis points through maturity.

  The Offering verify on EDGAR →
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  Net proceeds of $171.8 million will repay $75 million of existing 2029 Notes (redemption notice already delivered for September 15, 2026) plus general corporate purposes. The redemption is not contingent on this offering.

  Use of Proceeds verify on EDGAR →
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  The notes are unsecured subordinated obligations ranking junior to all senior indebtedness and effectively subordinated to all Bank obligations including deposits. As of June 30, 2026, Beacon had $175 million of equally-ranking subordinated debt (including 2029 Notes assumed from Brookline merger) and no senior debt outstanding.

  The Offering verify on EDGAR →