Beacon Financial Corp (BBT) is a savings institution holding company operating through Beacon Bank & Trust. The Q1 2026 10-Q covers the period ended March 31, 2026, filed May 11, 2026. The filing reflects a materially enlarged balance sheet resulting from a completed acquisition referred to throughout as 'the Transaction,' which closed in late 2025 and drove near-doubling of most income statement line items year-over-year. Under a liquidation lens, the MFFAIS-supplied CLV/LLV/OLV of approximately $1.16 billion represents the platform's estimate of recovery to equity. The filing itself does not separately disclose total assets, total loans, total deposits, total liabilities, or stockholders' equity in the body text provided — those figures appear only in the balance sheet statements, which are not included in the truncated filing body. However, the MD&A narrative provides sufficient reference points: total assets were approximately $22 billion as of March 31, 2026 (inferred from cash at $1.1B = 5.0% of balance sheet); total deposits were $18.3 billion (94.4% of total funding); total borrowings were $1.1 billion (5.5% of total funding); and cash plus AFS securities totaled $2.8 billion (12.7% of total assets). Under the liquidation lens, the deposit base of $18.3 billion stands at face value as a liability. The loan portfolio yield of 5.96% on a substantially grown book ($266.9M quarterly interest income vs. $143.3M prior year Q1) reflects significant post-Transaction volume, but loans carry haircuts in liquidation. Goodwill and identified intangibles are zero-recovery assets; the filing discloses $8.3M of intangible amortization in Q1 2026 versus $1.4M in Q1 2025 — a 482% increase — confirming a large acquired intangible stack from the Transaction. The balance sheet is also carrying $13.0M of merger and restructuring expense in Q1 2026 versus $1.0M prior year, indicating ongoing integration costs that will not recur but consumed cash. Regulatory capital ratios are well above minimums: consolidated CET1 of 11.24%, Tier 1 leverage of 9.59%, total risk-based capital of 13.27%. These ratios are regulatory capital constructs and do not directly map to liquidation equity, but they confirm the institution is not in regulatory distress. The $1.16B MFFAIS liquidation value figure likely reflects book equity less the intangible stack. The filing does not separately tag any XBRL balance-sheet items in the TAG_CONTEXT provided, preventing tag-level liquidation analysis. Key balance-sheet risk factors flagged in MD&A but absent from XBRL tagging include: the CRE loan provision spike ($15.0M in Q1 2026 vs. a credit of $0.2M in Q1 2025), a large consumer loan provision credit of ($14.4M) in Q1 2026 signaling ALLL release or model adjustment on the acquired book, and FHLB borrowing capacity of $4.6 billion versus only $1.1B drawn — leaving substantial secured borrowing headroom that would partially offset a run-off scenario. The one-year cumulative repricing gap is a positive $981M (4.77% of earning assets), confirming modest asset sensitivity. EVE sensitivity to a 400bp down shock is only (5.7)%, improved materially from (10.1)% at December 31, 2025, reflecting the post-Transaction balance sheet repositioning.
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