Bank Rhode Island in Providence, Rhode Island (RI)
Overview, Financial Summary, Detailed Financial Reports, Branches

Bank Rhode Island - Overview

  • General
  • FDIC Certificate #: 34147
    Status: Active
    Federal Reserve ID: 2434113
    Bank Holding Company (Regulatory Top Holder): Bancorp Rhode Island, Inc. (RSSDID: 2896458, Location: Providence, RI)
    Date Established: March 22, 1996
    Trust Powers Granted: No
    Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
    Offices: 17 (Domestic: 17, Interstate: No)
    OTS Docket #: 14169
    FDIC's unique #: 56292
    Numeric code: 21
    Regulator: FDIC
    Insurance Fund Membership: Deposit Insurance Fund (DIF)
    Insured commercial Banks: Yes
    FDIC Insured: Yes
    Deposit Insurance Fund member: Yes
    Ownership Type: Non-Stock
    FFIEC Call Report 31 Filer: No
    State Chartered: Yes
    Subchapter S Corporations: No
    Asset Concentration Hierarchy: Commercial Lending Specialization
    Date of Deposit Insurance: March 22, 1996
    Last Structure Change Effective Date: September 28, 2006
    Last Structure Change Process Date: September 28, 2006
    Last Data Update: September 28, 2006
    Data Source Date: April 05, 2012
  • Location
  • Address: One Turks Head Place, Providence, RI 2903
    County: Providence
    Quarterly Banking Profile Region: New York
    FDIC Geographic Region: New York
    FDIC Supervisory Region: New York
    FDIC Field Office: South Boston
    Office of the Comptroller the Currency (OCC) District: Northeast
    Office of Thrift Supervision Region: Northeast
    Metropolitan Statistical Area (MSA): Providence-Fall River-Warwick, RI-MA (#6480)
    Combined Statistical Area (CSA): Boston-Worcester-Manchester, MA-RI-NH (#148)
    Core Based Statistical Area (CBSA): Providence-New Bedford-Fall River, RI-MA (#39300)
    CBSA Metro Statistical Area: Providence-New Bedford-Fall River, RI-MA (#39300)
  • Financial Summary
  • Total assets: $1,581.1 mil
    Equity capital: $145.3 mil
    Deposits held in domestic offices: $1,131.1 mil
    Return on assets (ROA): 0.52% ($8.2 mil)
    Quarterly return on assets: -0.33% (-$5.2 mil)
    Return on Equity (ROE): 5.77% ($8.4 mil)
    Quarterly return on equity: -3.53% (-$5.1 mil)
    Net income: $8.3 mil
    Quarterly Net income: -$1.3 mil
    Pretax return on assets: 0.81% ($12,806.9 mil)
    Quarterly Pretax return on assets: -0.37% (-$5,850.0 mil)

1992 - 1999 Historical total assets, liabilities and capital ($ mil)

2000 - 2011 Historical total assets, liabilities and capital ($ mil)

Historical Total Incomes ($ mil)

Historical Total Expenses ($ mil)

Historical total employees (full-time equivalent)

Assets and Liabilities (December 31, 2011)

  • Dollar figures in thousands
  • 250Total employees (full-time equivalent)
  • $1,581,093Total assets
  • $22,130Cash and due from depository institutions
  • $0Interest-bearing balances
  • $312,630Securities
  • $1,262Federal funds sold & reverse repurchase agreements
  • $1,149,262Net loans & leases
  • $18,142Loan loss allowance
  • $1,369Trading account assets
  • $10,650Bank premises and fixed assets
  • $922Other real estate owned
  • $12,262Goodwill and other intangibles
  • $1,581,093Life insurance assets
  • $70,606All other assets
  • $1,435,791Total liabilities and capital
  • $1,131,137Total liabilities
  • $996,206Total deposits
  • $1,131,137Interest-bearing deposits
  • $76Deposits held in domestic offices
  • 43585.00%% insured (estimated)
  • $1,457Federal funds purchased & repurchase agreements
  • $240,926Trading liabilities
  • $0Other borrowed funds
  • $18,686Subordinated debt
  • $145,302All other liabilities
  • $145,302Total equity capital
  • $145,302Total bank equity capital
  • $0Perpetual preferred stock
  • $3,000Common stock
  • $64,937Surplus
  • $77,365Undivided profits
  • Memoranda
  • $0Noncurrent loans and leases
  • $0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $18,012Income earned, not collected on loans
  • $734Earning assets
  • $4,371Long-term assets (5+ years)
  • $1,463,154Average Assets, year-to-date
  • $492,913Average Assets, quarterly
  • $1,596,316Volatile liabilities
  • $1,577,598Insider loans
  • $1,127,741FHLB advances
  • $1,563,067Loans and leases held for sale
  • $32,579Unused loan commitments
  • $21,399Tier 1 (core) risk-based capital
  • $126,537Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $11,180Total unused commitments
  • $252,415Restructured Loans and leases
  • $9,216Derivatives

Income and Expense (December 31, 2011)

  • Dollar figures in thousands
  • $69,744Total interest income
  • $13,627Total interest expense
  • $56,117Net interest income
  • $4,448Provision for loan and lease losses
  • $8,592Total noninterest income
  • $0Fiduciary activities
  • $3,115Service charges on deposit accounts
  • -$44Trading account gains & fees
  • $5,521Additional noninterest income
  • $46,316Total noninterest expense
  • $28,931Salaries and employee benefits
  • $4,491Premises and equipment expense
  • $12,894Additional noninterest expense
  • $13,945Pre-tax net operating income
  • -$962Securities gains (losses)
  • $4,677Applicable income taxes
  • $8,306Income before extraordinary items
  • $0Extraordinary gains - net
  • $8,306Net income attributable to bank
  • $0Net charge-offs
  • $8,306Cash dividends
  • $4,960Sale, conversion, retirement of capital stock, net
  • $7,800Net operating income

Performance and Condition Ratios (December 31, 2011)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 4.71%Yield on earning assets
  • 0.92%Cost of funding earning assets
  • 3.79%Net interest margin
  • 0.58%Noninterest income to earning assets
  • 3.13%Noninterest expense to earning assets
  • 0.56%Net operating income to assets
  • 0.52%Return on assets (ROA)
  • 0.81%Pretax return on assets
  • 5.77%Return on equity (ROE)
  • 0.35%Retained earnings to average equity (YTD only)
  • 0.43%Net charge-offs to loans
  • 89.68%Credit loss provision to net charge-offs
  • 3.71%Efficiency ratio
  • 71,576Assets per employee
  • 6.32%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 93.91%Loss allowance to loans
  • 1.55%Loss allowance to noncurrent loans
  • 100.72%Noncurrent assets plus other real estate owned to assets
  • 1.20%Noncurrent loans to loans
  • 1.54%Net loans and leases to deposits
  • 101.60%Net loans and leases to core deposits
  • 107.29%Equity capital to assets
  • 9.19%Core capital (leverage) ratio
  • 8.10%Tier 1 risk-based capital ratio
  • 11.22%Total risk-based capital ratio
  • Memoranda
  • $12Average assets
  • $1,596,316Average earning assets
  • $143,953Average equity
  • $1,481,161Average loans

List of branches

  • 17 Rhode Island Branches as of April 05, 2012
  • NoIDNameAddressEstablishedService TypeMap
    056292Bank Rhode IslandOne Turks Head Place, Providence, RI 2903March 22, 1996Full Service Brick and Mortar
    2249305East Providence Branch195 Taunton Avenue, East Providence, RI 2914July 17, 1967Full Service Brick and Mortar
    3249306Johnston Branch1440 Hartford Avenue, Johnston, RI 2919July 17, 1967Full Service Brick and Mortar
    4249308East Side Branch165 Pitman Street, Providence, RI 2906July 17, 1967Full Service Brick and Mortar
    5249309Governor Francis Branch1300 Warwick Avenue, Warwick, RI 2888July 17, 1967Full Service Brick and Mortar
    6249311Smithfield Branch445 Putnam Pike, Smithfield, RI 2828September 11, 1968Full Service Brick and Mortar
    9249319East Providence Branch999 South Broadway, East Providence, RI 2940June 16, 1986Full Service Brick and Mortar
    11274309Atwood Avenue Branch383 Atwood Avenue, Cranston, RI 2920May 10, 1992Full Service Brick and Mortar
    12274311Park Avenue Branch1047 Park Avenue, Cranston, RI 2910May 10, 1992Full Service Brick and Mortar
    13274312Centreville Road Branch1062 Centreville Road, Warwick, RI 2886May 10, 1992Full Service Brick and Mortar
    15290417Woonsocket Branch177-1193 Cumberland Hill Road, Woonsocket, RI 2895January 06, 1998Full Service Brick and Mortar
    16334302Warwick Branch2975 West Shore Road, Warwick, RI 2886March 31, 2000Full Service Brick and Mortar
    17364252Plainfield Pike Branch2104 Plainfield Pike, Cranston, RI 2921July 29, 2002Full Service Brick and Mortar
    18427992North Kingstown Branch1140 Ten Rod Road, North Kingstown, RI 2852April 12, 2004Full Service Brick and Mortar
    19440003Lincoln Branch625b George Washington Highway, Lincoln, RI 2865April 14, 2005Full Service Brick and Mortar
    20441409East Greenwich Branch1269 South County Trail, East Greenwich, RI 2818June 13, 2005Full Service Brick and Mortar
    21468988Pawtucket Branch499 Smithfield Avenue, Pawtucket, RI 2860October 29, 2007Full Service Brick and Mortar

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