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Home > Company Index > Banking > Banking - Northeast > Bancorp Rhode Island, Inc.

Bancorp Rhode Island, Inc.
Nasdaq: BARI
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 PROFILE
Newly formed Bancorp Rhode Island is the holding company for Bank Rhode Island, which serves individuals and small to midsized businesses through more than 10 branches in the Ocean State's Providence and Kent counties. The bank, born of divestitures made during the 1995 Fleet Financial acquisition of Shawmut, provides traditional banking products and services. Residential mortgage loans (mostly purchased from other financial institutions) comprise nearly half of the bank's portfolio. Bank Rhode Island also provides various mutual funds and annuities. The bank converted to a holding company structure in 2000 to expand into new lines of business, such as insurance and investment management.

 COMPETITION
First Financial Corp. (FTFN)
FleetBoston Financial Corporation (FBF)
Sovereign Bancorp, Inc. (SOV)

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 FINANCIAL OVERVIEW
Fiscal Year-End: December
2000 Sales (mil.): 53.60
1-Yr. Sales Growth: 19.4%
Employees: 207
Revenue per employee: $258,937.20

 KEY PEOPLE
• Merrill W. Sherman
    CEO
• Albert R. Rietheimer
    CFO

 CONTACT INFO
1 Turks Head Place
Providence, RI 02903
US
Phone: 401-456-5015
Fax: 401-435-8614
Online: Web Site

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