secwatch.observer — SEC 8-K summary
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Issuer:     Beacon Financial Corp (BBT)
CIK:        0001108134
Form:       8-K
Filed at:   2024-07-18T23:59:59+00:00
Accession:  0001104659-24-080743
Event type: earnings
Sentiment:  positive
Materiality: 0.70
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Berkshire Hills Q2 net income $24.0M, operating EPS $0.55 up 12% linked quarter
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- Net income $24.0M ($0.57 diluted EPS) vs prior Q1 net loss of $20.2M; operating EPS $0.55 ($0.49 in Q1).
- Net interest margin (FTE) 3.20%, up 5 bps linked quarter; NII (FTE) $90.5M.
- Operating revenue up 3% linked quarter; operating expense down 2% linked quarter.
- Net loan charge-offs annualized 7 bps; average loans $9.214B (+2% linked quarter).
- Efficiency ratio improved to 63.4% from 66.3% in prior quarter.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1108134/000110465924080743/0001104659-24-080743-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1108134/000110465924080743/tm2419702d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-24-080743

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer