Narragansett Financial Corporation Reports Q3 2026 Net Income Increase to $4.4 Million
Narragansett Financial Corporation announced its third-quarter financial results for the period ending September 30, 2026, reporting a net income of $4.4 million. This represents an increase of $954,000 compared to the previous quarter, driven primarily by higher net interest income and reduced provisions for credit losses, despite rising income tax provisions. The company's balance sheet saw significant growth, with total assets reaching $2.96 billion, a 3.1% increase from the prior quarter. A substantial rise in cash and demand deposits was attributed to proceeds from a minority stock offering held in escrow. While net interest margin improved by 21 basis points to 3.42%, retained earnings saw a slight decrease due to unrealized losses in the U.S. Treasury portfolio caused by higher market interest rates.
Tickers: $NFG
Topics: balance sheet deposit growth financial results loan growth net income
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