Every material Form 8-K Narragansett Bancorp, Inc. has filed with the SEC since October 05, 2026, read and summarized by AI: what happened, the key figures, whether it reads positive or negative for shareholders, and how big a deal it is (impact 1-5). Newest first; each brief links to its own page and to the filing on SEC.gov.
Narragansett Bancorp, Inc. completed the two-tier holding company reorganization of BayCoast Bank and its related stock offering, which closed on November 2, 2026. The company sold 9,098,800 shares, and its common stock began trading on the Nasdaq Capital Market under the symbol NARA the same day. The filing reports 21,160,000 shares outstanding after the transaction, which sets the share count that existing and new holders will own.
Offering closed November 2, 2026; 9,098,800 shares sold, including 761,760 shares to the Bank's Employee Stock Ownership Plan
Additional shares issued: 11,638,000 to Narragansett Financial Corporation (mutual holding company) and 423,200 to BayCoast Charitable Foundation, Inc.
Total shares outstanding after closing: 21,160,000; trading began November 2, 2026 on Nasdaq under NARA
DRS book-entry statements and interest checks are expected to be mailed on or about November 4, 2026
Narragansett Financial Corporation, parent of BayCoast Bank, reported third-quarter 2026 net income of $4.4 million, up $954,000 from the prior quarter, on higher net interest income and a credit loss benefit. The filing says the company will become Narragansett Bancorp, Inc. after a pending reorganization and related stock offering, so the results reflect a company in transition.
Net income was $4.4 million for the quarter ended September 30, 2026, versus $3.5 million for the June 30, 2026 quarter and $1.1 million a year earlier.
Net interest income rose $1.4 million, or 6.7%, to $22.8 million, and net interest margin was 3.42%, up 21 basis points.
Non-interest income fell $1.2 million to $12.8 million, while the provision for credit losses was a $250,000 benefit compared with an $800,000 provision in the prior quarter.
Cash and cash equivalents rose $45.2 million to $98.0 million, driven by minority stock offering proceeds held in escrow.
Narragansett Bancorp, Inc. has completed the subscription offering tied to the proposed two-tier holding company reorganization of BayCoast Bank. The offering was oversubscribed by Bank depositors, so the company does not expect a community or syndicated community offering. The closing remains subject to final regulatory approvals and customary closing conditions, and the final results and closing date have not yet been announced.
Subscription offering was oversubscribed by depositors of BayCoast Bank as of May 31, 2025.
No community offering or syndicated community offering is expected.
Closing remains subject to customary final regulatory approvals and closing conditions.
Final results and the anticipated closing date will be announced after all regulatory approvals are received.
Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.
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