# Narragansett Bancorp, Inc. — capital_raise/public_offering [announced]
Source: sec.gov · situation sit_01823aa57ec254ebd736 · public 8980662392266852630 · retrieved 2026-08-19T11:33:34.657Z

## Overview
Narragansett Bancorp, Inc. is a newly formed Maryland corporation serving as a holding company for BayCoast Bank, a Massachusetts-chartered stock savings bank, through a two-tier mutual holding company structure.

On August 11, 2026, Narragansett Bancorp, Inc. (a newly formed Maryland corporation), Narragansett Financial Corporation (a Massachusetts mutual holding company), and BayCoast Bank entered into an Agency Agreement with Piper Sandler & Co. to serve as exclusive marketing agent for the Company's stock offering in connection with a two-tier holding company reorganization. The Company plans to offer up to 7,912,000 shares of common stock (subject to increase to 9,098,800 shares), with Piper Sandler receiving marketing fees of 1.35% on subscription offering proceeds and 3.00% on community offering proceeds, plus 5.00% on any syndicated community offering. The Company will also contribute up to 2% of outstanding shares (or cash) to a charitable foundation, with total foundation contributions not exceeding 8% of gross offering proceeds. The reorganization contemplates the MHC organizing the Company as a wholly-owned subsidiary and contributing all Bank shares to the Company, resulting in the Company owning 100% of the Bank's common stock.

## Terms
- Counterparty: Piper Sandler & Co.

## Key dates
- Announced 2026-08-17

## Timeline
- 2026-08-17 · 8-K (0001193125-26-353578): 8-K - Narragansett Bancorp, Inc. — *Narragansett Bancorp, Inc. is a newly formed Maryland corporation serving as a holding company for BayCoast Bank, a Massachusetts-chartered stock savings bank, through a two-tier mutual holding company structure.* On August 11, 2026, Narragansett Bancorp, Inc. (a newly formed Maryland corporation), Narragansett Financial Corporation (a Massachusetts mutual holding company), and BayCoast Bank entered into an Agency Agreement with Piper Sandler & Co. to serve as exclusive marketing agent for the Company's stock offering in connection with a two-tier holding company reorganization. The Company plans to offer up to 7,912,000 shares of common stock (subject to increase to 9,098,800 shares), with Piper Sandler receiving marketing fees of 1.35% on subscription offering proceeds and 3.00% on community offering proceeds, plus 5.00% on any syndicated community offering. The Company will also contribute up to 2% of outstanding shares (or cash) to a charitable foundation, with total foundation contributions not exceeding 8% of gross offering proceeds. The reorganization contemplates the MHC organizing the Company as a wholly-owned subsidiary and contributing all Bank shares to the Company, resulting in the Company owning 100% of the Bank's common stock.
  https://www.sec.gov/Archives/edgar/data/2138186/0001193125-26-353578.txt

## Citations
- 0001193125-26-353578 — https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&type=&dateb=&owner=include&count=40&search_text=000119312526353578