5Q: William C. Tsonos
Rhode Island region president, Beacon Bank
Former CEO and president, Bank Rhode Island
(Editor’s note: Beacon Financial Corp. was formed on Sept. 2, 2025, when a merger of equals was completed between Berkshire Hills Bancorp Inc., parent of Berkshire Bank, and Brookline Bancorp Inc., parent of Brookline Bank, Bank Rhode Island and PCSB Bank. All subsidiaries are now divisions of Beacon Financial subsidiary Beacon Bank & Trust and began using the Beacon Bank branding on Feb. 9.)
1. Now that Bank Rhode Island, also known as BankRI, has become Beacon Bank, what are the plans for your headquarters at 1 Turks Head Place in Providence, and are there any long-term plans for a new headquarters in the city? As the center of Rhode Island’s business and political community, downtown Providence has long been – and will continue to be – a focus of Beacon Bank’s commitment. We will continue to assess our space needs based on growth.
2. What does this name change mean for banking customers? And how are you preserving BankRI’s local legacy in this transition? For BankRI customers, the transition to Beacon Bank will feel very familiar. They can expect the same high level of personalized, relationship-based service from the local teams they know and trust. While the name on the sign or the building may be changing, the people inside are not. Preserving BankRI’s local legacy means maintaining the same commitment, care and community focus our customers have come to expect.
3. As a larger bank with multiple regions, what is Beacon Bank’s commitment to local decision-making and community focus? Beacon Bank will continue with the same level of local decision-making and community focus. As president of the Rhode Island region, I will have increased lending authority, which will allow us to handle a greater majority of our customers’ needs locally.
4. How will the Rhode Island branch network evolve post-merger? Are expansions, consolidations, or market realignments on the table? The Beacon Bank branch network will continue to evolve over time. Decisions about expansion will take into account multiple considerations, including regulatory and economic factors. While three branch closings have been announced where BankRI and Berkshire [Bank] locations are in extremely closer proximity, we are happy to include two new branches – Westerly and Pawcatuck, Conn. – into the Beacon Bank Rhode Island region.
5. What is your outlook for Rhode Island’s economy and financial sector in 2026? As a commercial bank, lower interest rates and stable inflation should provide a positive outlook for Beacon Bank in Rhode Island. Our loan portfolios are extremely diverse – equal parts commercial real estate and commercial and industrial, including our specialty Franchise Banking Division. This is an important distinction, as most banks in our category are primarily real estate dependent. Our commercial focus also allows us to be less dependent on longer-term deposits, allowing for flexibility in a declining interest-rate environment.
