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- **Merger Completion**: $22.8 billion in combined assets with $68 million in realized cost synergies.
- **Financial Performance**: Q3 GAAP loss of $56 million, driven by $130 million in merger charges.
- **Credit Management**: $134 million in criticized office loans with 25% reserves; $30 million maturing in Q4-Q1 2026.
- **Dividend Growth**: 79% increase to $0.3225 per quarter, reflecting shareholder value prioritization.

**【CEO Summary Section】**
- Announced completion of the Brookline-Berkshire merger, with combined assets of $22.8 billion, $19 billion in deposits, and $18 billion in loans.
- Highlighted cost synergies of $68 million, with $22 million in quarterly merger-related charges expected through Q1 2026.
- Introduced the new 'Beacon Bank' brand, emphasizing customer retention and service continuity during integration.

**【CFO Financial Commentary】**
- Reported GAAP loss of $56 million for Q3, driven by $130 million in merger-related expenses.
- Net interest margin of 3.72% (3.42% excluding purchase accounting), with accretion guidance of $15-20 million per quarter.
- Provision for credit losses of $15.8 million, with $77 million in specific reserves and a 139% coverage ratio.

**【Q&A Key Highlights】**
- **Credit Quality**: $134 million in criticized office loans with 25% reserves; $30 million maturing in Q4-Q1 2026.
- **Balance Sheet Management**: Targeting mid-single-digit loan growth and 57% deposit beta.
- **Capital Allocation**: $0.3225 quarterly dividend (79% increase) and no immediate buyback plans.
- **Integration Progress**: 6 regional teams operational; core system conversion scheduled for Q1 2026.

Beacon Financial Corporation (BBT) Q3 2025 Earnings Call Transcript

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BBT

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