Narragansett Bancorp

Narragansett Bancorp (Ticker: NARA US) will own all outstanding shares of BayCoast Bank. BayCoast Bank takes deposits, makes commercial, residential, home equity, construction and consumer loans, and invests in securities. It operates 25 full-service banking offices and two loan production offices in Massachusetts and Rhode Island.

The offering was priced at $10 per share for 9,098,800 shares, representing $90.99 million in gross offering proceeds. Narragansett Bancorp shares are expected to begin trading on Nasdaq on November 2, 2026.

After completion of the reorganization and offering, Narragansett Financial Corporation will own 55% of Narragansett Bancorp, while public stockholders, including the charitable foundation, will own 45%. Piper Sandler acted as marketing agent for the offering.