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 372nd largest bank in the nation. It was established in 1996 and as of September of 2023, it had grown to 293 employees at 21 locations. Bank Rhode Island has a B+ 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 - YTD0.77%
Return on Equity - YTD7.78%
Annual Interest Income$112.5MM
Assets and Liabilities
AssetsQ3 2023vs Q3 2022$3.21B$3.01B
LoansQ3 2023vs Q3 2022$2.66B$2.31B
DepositsQ3 2023vs Q3 2022$2.54B$2.48B
Equity CapitalQ3 2023vs Q3 2022$334.9MM$304.9MM
Loan Loss AllowanceQ3 2023vs Q3 2022$34.7MM$28.4MM
Unbacked Noncurrent LoansQ3 2023vs Q3 2022$8.2MM$2.6MM
Real Estate OwnedQ3 2023vs Q3 2022$0$0

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