Borrowed Funds (Tables)

12 Months Ended

Dec. 31, 2025

Borrowed funds are comprised of the following:


	At December 31,
	2025		2024
	(In Thousands)
Advances from the FHLB	$	555,788	$	1,355,926
Subordinated debentures and notes	198,572		84,328
Other borrowed funds	34,000		79,592
Total borrowed funds	$	788,360	$	1,519,846

Schedule of Interest Expense on Borrowed Funds

Interest expense on borrowed funds for the periods indicated is as follows:


	Year Ended December 31,
	2025		2024		2023
	(In Thousands)
Advances from the FHLB	$	37,511	$	55,851	$	52,467
Subordinated debentures and notes	9,436		6,074		5,476
Other borrowed funds	2,235		4,048		3,968
Total interest expense on borrowed funds	$	49,182	$	65,973	$	61,911

Schedule of Federal Home Loan Bank Advances

FHLB advances mature as follows:


	At December 31,
	2025		2024
	Amount (1)		Weighted Average Rate		Amount		Weighted Average Rate
	(Dollars in Thousands)
Within 1 year	$	510,446	4.06	%	$	1,278,372	4.74	%
Over 1 year to 2 years	27,179		3.62	%	70,000		4.25	%
Over 2 years to 3 years	1,529		—	%	316		0.76	%
Over 3 years to 4 years	2,770		0.64	%	750		—	%
Over 4 years to 5 years	5,200		—	%	1,827		1.05	%
Over 5 years	9,658		2.00	%	4,661		3.35	%
	$	556,782	3.94	%	$	1,355,926	4.70	%

_______________________________________________________________________________

(1) Excludes $(1.0) million in FHLB borrowings fair value adjustment related to the Transaction.

Schedule of Information Concerning Other Borrowed Funds

Information concerning other borrowed funds is as follows for the periods indicated below:


	Year Ended December 31,
	2025			2024
	(Dollars In Thousands)
Outstanding at end of year	$	34,000		$	79,592
Average outstanding for the year	49,374			78,859
Maximum outstanding at any month-end	135,985			127,505
Weighted average rate at end of year	3.67		%	4.33		%
Weighted average rate paid for the year	4.53		%	5.13		%

Schedule of Subordinated Debentures and Notes

The following table summarizes the Company's subordinated debentures and notes at the dates indicated.

Carrying Amount

Issue Date

Rate

Maturity Date

Next Call Date

December 31, 2025

December 31, 2024

(Dollars in Thousands)

June 26, 2003

Variable;

3-month CME term SOFR + spread adjustment of 0.26% + 3.10%

June 26, 2033

March 26, 2026

4,935

4,920

March 17, 2004

Variable;

3-month CME term SOFR + spread adjustment of 0.26% + 2.79%

March 17, 2034

March 17, 2026

4,902

4,880

June 30, 2005

Variable;

3-month CME term SOFR + spread adjustment of 0.26% + 1.85%

August 23, 2035

February 23, 2026

13,943

—

September 21, 2006

Variable;

3-month CME term SOFR + spread adjustment of 0.26% + 1.70%

December 15, 2036

March 15, 2026

7,232

—

September 15, 2014

Variable;

3-month CME term SOFR + spread adjustment of 0.26% + 3.32%

September 15, 2029

March 16, 2026

72,528

74,528

June 30, 2022

Variable;

3-month CME term SOFR + 2.49%

July 1, 2032

June 30, 2027

95,032

—

Total

198,572

84,328

- Definition

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(22))
-SubTopic 10
-Topic 210
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 942
-SubTopic 235
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477314/942-235-S99-2

Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S50
-Paragraph 4
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480738/235-10-S50-4

Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 3
-Subparagraph (SX 210.12-04(a))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480678/235-10-S99-3

Reference 5: http://www.xbrl.org/2003/role/exampleRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 55
-Paragraph 69B
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481568/470-20-55-69B

Reference 6: http://www.xbrl.org/2003/role/exampleRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 55
-Paragraph 69E
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481568/470-20-55-69E

Reference 7: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 835
-SubTopic 30
-Name Accounting Standards Codification
-Section 45
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482925/835-30-45-2

Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-3

Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 942
-SubTopic 470
-Section 50
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477734/942-470-50-3

Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 8
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-8

Reference 11: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-6

Reference 12: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 7
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-7

+ Details

Beacon Financial Corp 10-K