Federal Reserve Publishes Two Bank Holding Company Applications; Comments Due July 22

The Federal Reserve System has published notice of two applications seeking Board approval to form or acquire bank holding companies, pursuant to the Bank Holding Company Act of 1956 (12 U.S.C. 1841 et seq.), Regulation Y (12 CFR part 225), and all other applicable statutes and regulations. Both applications were published in the Federal Register on Monday, June 22, 2026.

Massachusetts Application

The Federal Reserve Bank of Boston is handling an application from Narragansett Bancorp, Inc., of Swansea, Massachusetts — described in the notice as a newly-formed Maryland corporation — seeking to become a bank holding company by acquiring BayCoast Bank, also of Swansea, Massachusetts. In a related transaction, Narragansett Financial Corporation, the existing mutual holding company of BayCoast Bank and likewise based in Swansea, Massachusetts, is also applying to acquire Narragansett Bancorp, Inc. The Boston Federal Reserve Bank is located at 600 Atlantic Avenue, Boston, Massachusetts, and is overseen for this matter by Prabal Chakrabarti, Executive Vice President.

Nevada Application

The Federal Reserve Bank of San Francisco is handling an application from Front Street Financial, Inc., of Caliente, Nevada, seeking to become a bank holding company by acquiring Nevada Bank and Trust Company, also of Caliente, Nevada. The San Francisco Federal Reserve Bank is located at 101 Market Street, San Francisco, California, and is overseen for this matter by Keith Dudley, Vice President.

Application Review and Public Access

The notice states that the public portions of both applications, as well as other related filings required by the Board, are available for immediate inspection at the respective Federal Reserve Banks indicated and at the offices of the Board of Governors. The notice further states that this information may be obtained on an expedited basis, upon request, by contacting the appropriate Federal Reserve Bank or the Board's Freedom of Information Office.

Interested persons may express their views in writing on the standards enumerated in the BHC Act (12 U.S.C. 1842(c)). The notice cautions that comments received are subject to public disclosure and will generally be made available without change, without removal of personal or business information including confidential, contact, or other identifying information. Accordingly, the notice advises that comments should not include confidential information that would not be appropriate for public disclosure.

What to Watch

Comments on both applications must be received no later than July 22, 2026, either at the respective Reserve Bank indicated for each application or at the offices of the Board of Governors, addressed to Benjamin W. McDonough, Secretary of the Board, 20th Street and Constitution Avenue NW, Washington, DC 20551-0001. Electronic comment submission options are also available for both Reserve Banks.