Narragansett Bancorp, Inc.

S-1/A amended

Price $10.00 · 6,705,124 shares · Gross proceeds $67,051,240

Narragansett Bancorp, Inc. reported improved financial performance in the six months ended June 30, 2026, with net income increasing to $4.7 million from $2.1 million in the same period in 2025. Key changes include a 0.6% increase in total assets to $2.87 billion, driven by growth in securities available for sale and cash reserves, partially offset by loan portfolio reductions. Deposit growth of 1.0% to $2.45 billion and improved net interest margins (3.21% for Q2 2026 vs. 2.73% in Q2 2025) were noted. The company also addressed credit risk through provisions for loan losses and highlighted increased non-performing loans.

S-1 filed

Price $10.00 · 6,705,124 shares · Gross proceeds $67,051,240

Narragansett Bancorp, Inc. reported improved financial performance in Q1 2026, driven by a 15.1% increase in net interest income to $20.2 million, supported by a 47-basis-point rise in interest rate spread to 2.59%. The company reduced interest expenses faster than income, aided by lower Federal Home Loan Bank (FHLB) advances balances following a $120 million prepayment in Q3 2025. Mortgage banking income surged 38.3% to $4.7 million due to higher residential loan sales. However, non-accrual loans spiked to $44.9 million from $6.0 million, reflecting increased credit risk. Provisions for credit losses remained stable at $1.7 million, but the allowance coverage ratio fell to 66.15% of nonperforming loans from 467.65% in 2025.