NARA

CIK 0002138186

Large by assets Assets $2.9B as of Oct 18, 2026

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8-K Filed Oct 27, 2026 · Period ending Oct 27, 2026

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8-K Filed Oct 5, 2026 · Period ending Oct 5, 2026

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10-Q Filed Sep 21, 2026 · Period ending Jun 30, 2026

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424B3 Filed Aug 20, 2026 Red flag

Narragansett Bancorp launches best-efforts IPO of up to 7.91M shares at $10.00, raising up to $75.9M net

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424B3 Filed Aug 20, 2026 Red flag

Narragansett Bancorp launches 424B3 offering of up to 7.91M shares at $10.00, raising $79.1M gross for the company

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8-K Filed Aug 17, 2026 · Period ending Aug 11, 2026

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S-1/A Filed Jul 23, 2026 Red flag

Narragansett Bancorp S-1/A details $79.1M net proceeds offering, adds Q2 2026 results and credit deterioration

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S-1 Filed Jun 12, 2026

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Latest financial statements

From 10-Q filed Sep 21, 2026 (period ending Jun 30, 2026). As printed on the EDGAR/iXBRL face — not generated by the model.

As filed

Consolidated Statements of Net Income (Unaudited)

(In thousands)

Description	Three months ended June 30, 2026	Three months ended June 30, 2025	Six months ended June 30, 2026	Six months ended June 30, 2025
Interest and dividend income:
Interest and fees on loans	31,880	33,162	63,363	65,629
Interest on debt securities	3,005	2,258	5,788	4,306
Dividend income	118	232	232	492
Interest on cash and cash equivalents	141	394	182	810
Total interest and dividend income	35,144	36,046	69,565	71,237
Interest expense:
Interest on deposits	11,175	12,915	22,576	25,921
Interest on borrowings	873	2,515	2,150	5,268
Interest on subordinated debt	1,722	1,917	3,299	3,821
Total interest expense	13,770	17,347	28,025	35,010
Net interest income	21,374	18,699	41,540	36,227
Provision for credit losses	800	2,010	2,500	3,900
Net interest income, after provision for credit losses	20,574	16,689	39,040	32,327
Other income:
Customer service fees	2,781	2,610	5,519	5,114
Net loan servicing (expense) fee income	(148)	30	(1,100)	157
Trust department fees	1,620	1,475	3,255	2,961
Insurance and brokerage commissions	3,703	3,839	7,773	7,874
Gain (loss) on securities available for sale, net	—	(20)	203	(20)
Gain (loss) on marketable equity securities	130	(36)	189	(51)
Loss on sales of portfolio loans	(323)	(300)	(776)	(827)
Mortgage banking income	4,456	4,715	9,174	8,127
Bank-owned life insurance income	1,440	969	1,320	1,005
Miscellaneous	280	1,382	686	1,591
Total other income	13,939	14,664	26,243	25,931
Operating expenses:
Salaries and employee benefits	20,797	18,886	39,862	36,100
Occupancy and equipment	3,562	3,419	7,679	7,112
Professional fees	839	779	1,668	1,551
Data processing	1,270	1,105	2,458	2,289
Advertising costs	609	540	1,217	1,179
Deposit insurance	703	659	1,400	1,386
Amortization of intangible assets	162	258	325	505
Other general and administrative	2,601	2,931	5,190	5,588
Total operating expenses	30,543	28,577	59,799	55,710
Income before income taxes	3,970	2,776	5,484	2,548
Provision for income taxes	500	522	766	417
Net income	3,470	2,254	4,718	2,131

balance sheets

Description	Three months ended June 30, 2026	Three months ended June 30, 2025
Average Outstanding Balance
(Dollars in thousands)
Interest-earning assets:
Loans	2,278,673	31,886
Debt securities	354,823	3,005
Equity securities and mutual funds	6,669	118
Cash equivalents	26,880	141
Total interest-earning assets	2,667,045	35,150
Noninterest-earning assets	201,110	201,573
Total assets	2,868,154	2,942,648
Interest-bearing liabilities:
NOW accounts	389,967	1,182
Savings accounts	290,338	147
Money market accounts	853,484	6,181
Certificates of deposit	485,383	3,665
Total interest-bearing deposits	2,019,172	11,175
Borrowings:
Other Borrowings	89,024	873
Subordinated debt	94,701	1,722
Total interest-bearing liabilities	2,202,897	13,771
Noninterest-bearing liabilities:
Demand deposits	430,745	402,440
Other	46,334	45,672
Total liabilities	2,679,977	2,767,999
Retained earnings	188,177	174,650
Total liabilities and retained earnings	2,868,154	2,942,649
Net interest income	21,379	18,699
Net interest rate spread (2)	2.80	2.30
Net interest-earning assets (3)	464,147	421,189
Net interest margin (4)	3.21	2.73
Average interest-earning assets to interest-bearing liabilities	121.07	118.16

Consolidated Statements of Cash Flows (Unaudited)

(In thousands)

Description	Six months ended June 30, 2026	Six months ended June 30, 2025
Cash flows from operating activities:
Net income	4,718	2,131
Adjustments to reconcile net income to net cash provided (used) by operating activities:
Net amortization of securities available for sale	(698)	(276)
(Gain) loss on securities available for sale, net	(203)	20
(Gain) loss on marketable equity securities, net	(189)	50
Loss on sales of portfolio loans	776	827
Provision for credit losses	2,500	3,900
Mortgage servicing rights capitalized	(3,807)	(2,663)
Amortization of mortgage servicing rights	2,855	1,590
Increase in valuation allowance of mortgage servicing rights	300	—
Depreciation and amortization of premises and equipment and intangible assets	2,272	2,335
Bank-owned life insurance income	(1,320)	(1,006)
Losses from equity method investments	12	12
Deferred tax benefit	(700)	(167)
Net change in:
Loans held for sale	1,226	(8,499)
Accrued interest receivable	105	(172)
Other assets and other liabilities	3,278	1,871
Net cash provided (used) by operating activities	11,125	(47)
Cash flows from investing activities:
Securities available for sale:
Proceeds from sales	26,905	10,914
Proceeds from calls/maturities and principal payment	33,564	13,974
Purchases	(80,449)	(50,330)
Purchase of FHLB stock	(18,112)	(592)
Redemption of FHLB stock	18,816	3,045
Purchase of bank-owned life insurance	(1,064)	(1,242)
Proceeds from sales of portfolio loans	81,008	54,206
Loan originations, net of amortization and payoffs	(67,776)	(52,851)
Additions to premises and equipment	(2,173)	(1,773)
Proceeds from the disposal of premises and equipment	59	22
Net change in equity method investments	(255)	(224)
Net cash used by investing activities	(9,477)	(24,851)
Cash flows from financing activities:
Net change in non-brokered deposits	25,154	130,240
Net change in brokered deposits	—	(22,852)
Net change in short term borrowings	(12,573)	(39)
Repayment of long-term debt	—	(80,000)
Proceeds from long-term debt	—	20,000
Net cash provided by financing activities	12,581	47,349
Net change in cash and cash equivalents	14,229	22,451
Cash and cash equivalents at beginning of year	38,519	75,957
Cash and cash equivalents at end of year	52,748	98,408
Supplemental cash flow information:
Interest paid on deposits	22,597	26,025
Interest paid on borrowings and subordinated debt	5,255	9,385
Income taxes paid, net	1,325	1,383
Non-cash activities
Right of use assets obtained in exchange for lease liabilities	179	2

Amounts as printed on the EDGAR/iXBRL face — (In thousands). Labels, columns, and figures are the filing face, not a GAAP stencil. Interactive statements & notes on EDGAR ↗

View all filings for NARA on SEC EDGAR