Narragansett Financial Corp. and Subsidiary Consolidated Statements of Net Income Years Ended December 31, 2017 and 2016 Unaudited 2017 (in thousands) Interest and dividend income: Interest and fees on loans $ 43,592 Interest on debt securities 3,378 Dividend income 1,481 Interest on cash equivalents 33 ___________ ________________________________________________________________________________ Total interest and dividend income $ 48,484 Interest expense: Interest on deposits 4,092 Interest on Federal Home Loan Bank advances 3,623 ___________ ___________________________________________________________________________________ Total interest expense $ 9,251 Other income: Customer service fees 5,072 Trust department fees 4,081 Insurance and brokerage commissions 5,047 Gain on securities available for sale, net 710 Gain on redemption of cost method investment 11,297 Gain on sales of loans, net 3,953 BOLI income 589 Miscellaneous 221 ___________ ___________________________________________________________________________________ Total other income $ 30,970 Operating expenses: Salaries and employee benefits 32,512 Occupancy and equipment 7,772 Professional fees 1,979 Data processing 2,340 Advertising costs 918 Deposit insurance 695 Amortization of intangible assets 409 Other general and administrative 6,573 ___________ ___________________________________________________________________________________ Total operating expenses 53,198 Income before income taxes 1 6,125 Provision for income taxes 6,344 ___________ ___________________________________________________________________________________ Net Income 9,781 Net income (loss) attributable to non-controlling interest in subsidiary (19) ___________ ___________________________________________________________________________________ Net income attributed to Narragansett Financial Corp. and Subsidiary $ 9,800 Please refer to the audited financial statements, which will be available upon request. 508-678-7641 888-806-2872 baycoastbank.com Products and services offered through Plimoth Investment Advisors, BayCoast Financial Services and Partners Insurance Group are not insured by FDIC or DIF. EQUAL HOUSING LENDER | MEMBER FDIC | MEMBER DIF