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Beacon Bancorp Reports Strong 2025 Results, Highlights Growth Initiatives At 2026 Annual Meeting

TAUNTON, MA, June 4, 2026 — At Beacon Bancorp’s Annual Meeting on May 12, 2026, Patrick J. Murray, Chairman of the Board of Bristol County Savings Bank, underscored that the Bank’s strong financial performance and enduring commitment to the communities it serves are grounded in its “Putting People First” culture. Held at the Zeiterion Theatre in New Bedford, Massachusetts, a regional cultural landmark whose restoration and reopening the Bank was proud to support, the meeting also reflected the Bank’s longstanding investment in the strength and vitality of its communities. Murray noted that this philosophy continues to guide the organization through a relationship-driven approach to banking and a deep commitment to mutuality. 


Dennis F. Leahy, COO of Bristol County Savings Bank and Treasurer of Beacon Bancorp, reported that 2025 was a year of meaningful progress for the organization. Total loans increased by $207 million, or 8.6%, while net income grew $4.4 million, or 31%, over 2024 to $18.6 million. Leahy also noted the Bank’s strong capital position, with a total risk-based capital ratio of 19.20%, saying the Bank remains well-positioned to invest in its people, technology, facilities and communities.

John Silva, President and CEO of Bristol County Savings Bank, highlighted several strategic developments that advanced the Bank’s long-term growth plan, including the opening of its downtown Providence branch in March 2026, the establishment of its Community Lending Center in Providence, plans for a new Seekonk branch and continued branch modernization efforts. He added that the Bank’s new three-year strategic plan is focused on deposit acquisition, smart loan growth, employee development, and continued investment in technology, infrastructure and facilities.

Also at the meeting, Silva highlighted Bristol County Savings Bank’s strong commitment to the community, noting that in 2025 the Bristol County Savings Charitable Foundation provided $2.9 million in charitable support to 282 nonprofit and community organizations and that, since its establishment in 1996, more than $36.5 million has been contributed to community initiatives throughout the communities the Bank serves. He also shared that the Bank contributed $4 million to the Foundation in 2025 to help strengthen its charitable giving and future community impact. In recognition of these efforts, Bristol County Savings Bank was named by the Boston Business Journal as one of Massachusetts’ top charitable contributors for the ninth consecutive year, ranking 32nd among 99 companies recognized statewide. Silva concluded by noting that employees further demonstrated the Bank’s commitment to service by contributing a record 8,821 volunteer hours in 2025.

Affiliate performance was also a highlight of the annual meeting. Lou Ricciardi, President and CEO of Bristol Wealth Group, reported that assets under management surpassed $1 billion for the first time in 2025, and net income rose to approximately $2.3 million. Ricciardi also noted that Bristol Wealth Group contributed more than $140,000 in charitable and community support during the year.

Milestone Mortgage Solutions also delivered exceptional growth in 2025, closing 1,382 loans totaling $636 million in volume. The partnership between Milestone and Bristol County Savings Bank continued to gain momentum as well, generating 262 closed mortgage loans and $117.7 million in volume in 2025, representing 249% growth in mortgage loans and volume since 2023.

Murray also recognized Len Sullivan upon his retirement from the Board, thanking him for his extraordinary service, leadership, friendship and mentorship. Ricciardi likewise acknowledged Sullivan for his commitment and guidance as he retired as Board Chair of Bristol Wealth Group.

Also at the annual meeting, John Kelly of Providence, Rhode Island, President and CEO of Meeting Street, was appointed to the Board of Directors of the Bank. In addition, the following individuals were elected as new corporators: Cris C. Crecelius of Barrington, Rhode Island; James Downs of North Dighton, Massachusetts; Tara L. King of Raynham, Massachusetts; John J. Mannix III of North Scituate, Rhode Island; Christie L. Marotta of New Bedford, Massachusetts; Lisa A. Ranglin of Providence, Rhode Island; and Jennifer L. Tichon of New Bedford, Massachusetts.