| Bancorp Rhode Island, Inc. operates as the holding company for Bank Rhode Island (bank). The bank provides commercial banking services in the greater Providence market in the state of Rhode Island. It offers a range of commercial real estate, business, residential, and consumer loans; deposit products; nondeposit investment products; cash management and online banking services; and other banking products and services to individuals and small to mid sized businesses. The bank offers a range of deposit products, including demand-type accounts, certificates of deposit, and checking and savings accounts, as well as provides nondeposit investment products, such as mutual funds, stock and bond trading, unit investment trusts, fixed and variable annuities, online brokerage access, and life insurance products. It originates nonowner-occupied commercial real estate, multifamily residential real estate, and construction loans; and owner-occupied commercial real estate loans, term loans, and revolving lines of credit, as well as offers real estate and nonreal estate loans for business lending relationships. The bank also offers home equity term loans, home equity lines of credit, direct automobile loans, savings secured loans, and personal loans, as well as residential mortgage loans. In addition, it engages in the maintenance and management of intangible investments; and the collection and distribution of the income from such investments. The banks portfolio primarily comprises U.S. agency securities, mortgage-backed securities, collateralized mortgage obligations, corporate debt securities, Federal Home Loan Bank of Boston stock, and overnight investments. As of December 31, 2004, it operated a network of 14 branch offices located in Providence, Kent, and Washington Counties. Bancorp Rhode Island is headquartered in Providence, Rhode Island. |
