Bancorp Rhode Island, Inc. · Providence, RI United States ·(NASDAQ (GS): BARI)
Company Description
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This link will open in a new window Bancorp Rhode Island is the holding company for Bank Rhode Island, which serves individuals and small businesses through about 15 branches in the state's Providence, Kent, and Washington counties. The community bank provides traditional banking products and services including checking and savings accounts, mortgages and other loans, cash management services, and investment services. Bank Rhode Island was formed in 1996 as the result of the acquisition of branches divested in the merger between FleetBoston and Shawmut Financial, which are now part of Bank of America . To read the full description, subscribe now.
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Key Bancorp Rhode Island, Inc. Financials
| Company Type | Public - NASDAQ (GS): BARI Headquarters |
| Fiscal Year-End | December |
| 2008 Sales (mil.) | $56.0 |
| 2008 Employees | 271 |
Bancorp Rhode Island, Inc. Executives
25 executives listed for Bancorp Rhode Island, Inc.'s Providence, RI location.
| Title | Name & Bio | Contact |
| Chairman, Bancorp Rhode Island and Bank Rhode Island | Malcolm Chace | Network |
| Vice Chairman | John Yena | Network |
| President, CEO, and Director; President and CEO, Bank Rhode Island | Merrill Sherman | Network |
Competition
Competitive Landscape for Bancorp Rhode Island, Inc.
Demand for banking services is closely tied to economic activity and the level of interest rates. The profitability of individual banks depends on marketing skills, efficient operations, and good risk management. Large economies of scale exist in some segments of the industry, which has encouraged industry consolidation. Smaller banks can compete successfully in segments where customer service or knowledge of the local market is more important. The industry is capital-intensive and highly automated: annual revenue per employee is close to $300,000. Many banks and thrifts aggressively offered adjustable rate and subprime mortgages during the housing boom of the early 2000s only to find themselves saddled with loan defaults and extensive losses when the housing bubble burst. Deep exposure to subprime mortgages and mortgage-backed securities caused bank failures, government takeovers, and involuntary mergers. To read the full description, subscribe now.Top Bancorp Rhode Island, Inc. Competitors
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