Beacon Financial Corp (NYSE: BBT)

Beacon Financial Corporation is a holding company that owns Beacon Bank & Trust and its subsidiaries as well as Clarendon Private. The company provides a full service range of commercial business and retail banking products including cash management foreign exchange online and mobile banking consumer and residential loans and wealth management services. Through Clarendon Private and the Trust and Investments Division of the Bank it offers wealth management services to individuals families endowments and foundations. The company also provides equipment financing through its Eastern Funding subsidiary and SBA lending through its Business Capital division. It operates 147 banking offices across New England and New York with its headquarters at 131 Clarendon Street Boston Massachusetts 02116.

Beacon Financial Corporation generates revenue primarily from interest income on its loan and lease portfolio and from fees associated with its banking and wealth management activities. Interest income arises from commercial loans consumer loans residential mortgages and equipment financing. Noninterest income includes service charges on deposit accounts wealth management fees equipment financing income and SBA lending fees. The company also earns revenue from foreign exchange transactions and cash management services. Net interest income and noninterest income together drive the company's earnings.

The company operates through the following segments:

• The Banking segment encompasses Beacon Bank & Trust and its subsidiaries delivering commercial business and retail banking services cash management foreign exchange online and mobile banking consumer and residential loans and wealth management services.

• The Equipment Financing segment is conducted through the Eastern Funding subsidiary which provides loans and leases for commercial equipment supporting small businesses such as laundries fitness centers and tow truck operators.

• The SBA Lending segment operates via the Business Capital division originating Small Business Administration 7A loans for sale to investors.

• The Wealth Management segment is served by Clarendon Private and the Trust and Investments Division of the Bank offering investment advisory trust and private wealth services to individuals families endowments and foundations.

Beacon Financial Corporation holds a competitive position as a full service financial institution with a substantial branch network across New England and New York. The company benefits from scale following its merger of equals with Brookline Bancorp which expanded its loan and deposit base and diversified its product offerings. Competitive advantages include deep community relationships a broad suite of banking and wealth management products strong risk management practices and a source of strength from its holding company structure. Key competitors include regional banks national banks online banks financial technology firms and specialized wealth management companies operating in the same geographic markets.

The company serves a diverse customer base that includes individual consumers families small and medium sized businesses commercial corporations payroll service bureau clients endowments foundations and institutional investors. While specific customer names are not disclosed the business model focuses on building long term banking relationships with qualified customers through personalized service and a wide array of financial products.