BankRI’s new parent company posts $56.3M loss after Brookline-Berkshire merger

BOSTON – Beacon Financial Corp., the holding company of Bank Rhode Island, reported a third-quarter net loss of $56.3 million on Wednesday, reversing a profit in the same period a year earlier. The loss was largely driven by $129.8 million in pre-tax, one-time costs tied to the merger of Berkshire Hills Bancorp Inc. and Brookline