Bank Rhode Island
Bank Rhode Island is headquartered in Providence and is the 3rd largest bank in the state of Rhode Island. It is also the 388th largest bank in the nation. It was established in 1996 and as of March of 2017, it had grown to 213 employees at 19 locations. Bank Rhode Island has an A health rating.
Reasonably good small bank
BankRI emphasizes for anyone who maintains a low balance in their checking account the need to open an overdraft, which is no-fee and just incredibly helpful for preventing the accrual of lots of fees if you bounce a check. The savings product I was enrolled in only allowed a couple of transfers a month, which seems strange since it was not tied to an investment or a high-yield account; now it has been converted into a second checking account. I would have preferred a simple traditional savings account with unlimited withdrawals and some sort of ability to accrue interest. The account fees run $6.99 a month each, with seems quite high. I try to avoid the Atwood Avenue branch because it had an issue with mold/mildew and set off my asthma.
Data as of Q1 2017
Learn why bank health mattersHealth Grade Components
| Overall | |
|---|---|
| FDIC Certificate # | 34147 |
| Year Established | 1996 |
| Employees | 213 |
| Primary Regulator | FED |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 0.23% |
| Return on Equity - YTD | 1.78% |
| Annual Interest Income | $18.6MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q1 2017vs Q1 2016 | $2.15B$2.11B |
| Loans | Q1 2017vs Q1 2016 | $1.65B$1.56B |
| Deposits | Q1 2017vs Q1 2016 | $1.60B$1.54B |
| Equity Capital | Q1 2017vs Q1 2016 | $276.3MM$270.7MM |
| Loan Loss Allowance | Q1 2017vs Q1 2016 | $19.4MM$18.1MM |
| Unbacked Noncurrent Loans | Q1 2017vs Q1 2016 | $14.5MM$14.8MM |
| Real Estate Owned | Q1 2017vs Q1 2016 | $618.00K$407.00K |
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Bank Rhode Island has 19 locations. Click to view all Bank Rhode Island locations.