Narragansett Bancorp Q3 net income rises to $4.4 million from $3.5 million
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.
Key points
- 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.
The filing
Written by AI on Nov 9, 2026, 11:48 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on October 27, 2026.
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.