Bank Rhode Island

Overview / Commentary
One Turks Head Place
Providence, RI 02903

Bank Rhode Island is headquartered in Providence and is the 3rd largest bank in the state of Rhode Island. It is also the 333rd largest bank in the nation. It was established in 1996 and as of June of 2020, it had grown to 310 employees at 20 locations. Bank Rhode Island has an A+ health rating.

Reviews (1)

Reasonably good small bank

Posted by: |

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.


Health Grade Components

FDIC Certificate #34147
Year Established1996
Primary RegulatorFED
Profit Margin
Return on Assets - YTD0.21%
Return on Equity - YTD1.78%
Annual Interest Income$48.3MM
Assets and Liabilities
AssetsQ2 2020vs Q2 2019$3.15B$2.40B
LoansQ2 2020vs Q2 2019$2.33B$1.87B
DepositsQ2 2020vs Q2 2019$2.33B$1.79B
Equity CapitalQ2 2020vs Q2 2019$338.6MM$317.0MM
Loan Loss AllowanceQ2 2020vs Q2 2019$32.0MM$17.6MM
Unbacked Noncurrent LoansQ2 2020vs Q2 2019$13.0MM$16.8MM
Real Estate OwnedQ2 2020vs Q2 2019$0$201.00K

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