Here are the 424B prospectus supplements from Beacon Financial Corporation (BBT) in our archive over the last 12 months, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 424B covers the supplement that carries the terms of a priced offering, so if you follow BBT and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full BBT filings page.
Beacon Financial Corporation (BBT) is issuing $175,000,000 of 6.25% fixed-to-floating rate subordinated notes due September 1, 2036 under its shelf registration. The notes price at 100% of principal, with an underwriting discount of 1.25%, for gross proceeds of $175 million and net proceeds before expenses of $172.8 million.
The notes pay a fixed 6.25% interest rate semiannually to, but excluding, September 1, 2031, then float at Three-Month Term SOFR plus 215 basis points, with a zero floor, paid quarterly. They are unsecured, subordinated obligations of the holding company, structurally subordinated to liabilities of Beacon Bank & Trust and other subsidiaries, and are intended to qualify as Tier 2 capital.
Beacon expects net cash proceeds of about $171.8 million, which, together with cash on hand, will be used to repay $75 million of its 6.0% fixed-to-floating subordinated notes due 2029 and for general corporate purposes. The notes are callable at par, subject to Federal Reserve approval, on or after September 1, 2031 or earlier upon specified tax or regulatory events, will not be listed on any exchange, and carry limited events of default focused on insolvency events.
Beacon Financial Corporation is conducting a primary offering of fixed-to-floating rate subordinated notes due 2036 under its effective shelf registration. The notes are unsecured, subordinated obligations that rank junior to all existing and future senior indebtedness, equal with other subordinated notes, and structurally subordinated to liabilities of Beacon Bank & Trust and other subsidiaries. Interest is fixed from issuance to 2031 and then floats at a Benchmark expected to be Three-Month Term SOFR plus a spread, with the Benchmark floored at zero.
Beacon may redeem the notes at par plus accrued interest starting with the 2031 interest payment date, subject to Federal Reserve approval, and also upon specified tax, regulatory capital, or investment company law events. Net proceeds are intended, together with cash on hand if needed, to repay $75 million of outstanding 2029 subordinated notes plus accrued interest and for general corporate purposes. As of June 30, 2026, Beacon reported total deposits of $18.49 billion, total borrowed funds of $888.6 million, and a total risk-based capital ratio of 13.61%, and operates 145 banking offices across New England and New York.