Beacon Financial Corp - Company Profile
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Beacon Financial Corp (BFC), formerly Berkshire Hills Bancorp, Inc, is a bank holding company. The company offers deposits, lending, wealth management, and insurance products to retail, commercial, not-for-profit, and municipal customers. It also provides retail and commercial electronic banking, commercial cash management and commercial interest rate swaps. BFC offers a range of personal and commercial property and casualty insurance. Its other services include online banking, telephone banking, government banking, tax payment services, and merchant services. The company has operations across the US, in New York, Massachusetts, New Jersey and Connecticut. BFC is headquartered in Boston, Massachusetts, the US.
Headquarters
United States of America
Address
131 Clarendon Street, Boston, Massachusetts, 02116
Telephone
1 302 6587581
No of Employees
1,972
Industry
Financial Services
Ticker Symbol & Exchange
BBT (NYSE)
Revenue (2024)
$882.7M
34.9%
(2024 vs 2023)
EPS
XYZ
Net Income (2024)
XYZ
31.4%
(2024 vs 2023)
Market Cap*
$2.6B
Net Profit Margin (2024)
XYZ
-2.6%
(2024 vs 2023)
* As of and is in US$
Beacon Financial Corp premium industry data and analytics
Products and Services
| Services |
|---|
| Commercial Banking |
| Retail Banking |
| Consumer Lending |
| XYZ |
| XYZ |
| XYZ |
History
History section provides information on new products, mergers, acquisitions, expansions, approvals, and many more key events.
| Year | Event | Description |
|---|---|---|
| 2024 | Plans/Strategy | In December, the company announced its plans to merge with Brookline Bancorp. |
| 2019 | Acquisitions/Mergers/Takeovers | In May, the company acquired SI Financial Group. |
| 2018 | Acquisitions/Mergers/Takeovers | In December, the company and SI Financial Group signed an merger agreement under which Berkshire will acquire SIFI and its subsidiary, Savings Institute Bank and Trust Company. |
Competitor Comparison
| Key Parameters | Beacon Financial Corp | Capital One Financial Corp | Truist Financial Corp | Citizens Financial Group Inc | KeyCorp |
|---|---|---|---|---|---|
| Headquarters | United States of America | United States of America | United States of America | United States of America | United States of America |
| City | Boston | Mclean | Charlotte | Providence | Cleveland |
| State/Province | Massachusetts | Virginia | North Carolina | Rhode Island | Ohio |
| No. of Employees | 1,972 | 77,100 | 37,086 | 17,380 | 17,469 |
| Entity Type | Public | Public | Public | Public | Public |
Key Financial Charts
Sales Growth
Net Income Growth
Executives
| Name | Position | Board | Since | Age |
|---|---|---|---|---|
| David M. Brunelle | Chairman | Executive Board | 2021 | 53 |
| Nitin J. Mhatre | Chief Executive Officer; President; Director | Executive Board | 2021 | 53 |
| Jennifer M. Carmichael | Chief Internal Audit Officer; Executive Vice President | Executive Board | - | 47 |
| David Rosato | Senior Executive Vice President; Chief Financial Officer | Senior Management | 2023 | 62 |
| Sean A Gray | Chief Operating Officer; President | Senior Management | 2018 | 47 |
| Non Dignissim Eros | Proin vel | Convallis | 2026 | XY |
| Non Dignissim Eros | Proin vel | Convallis | 2026 | XY |
| Non Dignissim Eros | Proin vel | Convallis | 2026 | XY |
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