Bank Rhode Island

One Turks Head Place
Providence, RI 02903

Notable Rates APY Vs.Others
Savings 0.05% 2.30% →
1-Year CD 0.40% 2.25% →
2-Year CD 1.00% 2.50% →
5-Year CD 2.50% 2.80% →
30-Year Mortgage 4.26% 3.31% →
15-Year Mortgage 3.92% 2.77% →
HELOC N.A. 4.00% →

2019 Overview

General Bank Information

Bank Rhode Island is an FDIC insured institution located in Providence, RI. It was founded in 1996 and has approximately $2.4 billion in assets. Customers can open an account at one of its 20 branches.

FDIC Insured Yes
FDIC Certificate # 34147
Date Established 1996
Assets $2.40 billion
Loans $1.87 billion
Deposits $1.79 billion
Capital $0.32 billion
 

For a more detailed analysis of Bank Rhode Island's financial condition and a description of what these numbers mean, please visit the Financial Details section.

Deposit Rates - December 7, 2019

Your Current Location: Virginia, VA 20146

Savings and Money Market Rates APY MIN MAX
Money Market
0.05% $1 $9,999 Learn MoreShow Less
Money Market
0.40% $10,000 $24,999 Learn MoreShow Less
Money Market
0.40% $25,000 $49,999 Learn MoreShow Less
CD Rates APY MIN MAX
3 Mo CD
0.25% $1,000 $99,999 Learn MoreShow Less
3 Mo CD
0.25% $100,000 - Learn MoreShow Less
6 Mo CD
0.20% $1,000 $99,999 Learn MoreShow Less
6 Mo CD
0.20% $100,000 - Learn MoreShow Less
12 Mo CD
0.40% $1,000 $99,999 Learn MoreShow Less
12 Mo CD
0.40% $100,000 - Learn MoreShow Less
18 Mo CD
0.50% $1,000 $99,999 Learn MoreShow Less
18 Mo CD
0.50% $100,000 - Learn MoreShow Less
24 Mo CD
1.00% $1,000 $99,999 Learn MoreShow Less
24 Mo CD
1.00% $100,000 - Learn MoreShow Less
30 Mo CD
2.00% $1,000 $99,999 Learn MoreShow Less
36 Mo CD
0.65% $1,000 $99,999 Learn MoreShow Less
36 Mo CD
0.65% $100,000 - Learn MoreShow Less
60 Mo CD
2.50% $1,000 - Learn MoreShow Less

Fixed IRA Rates APY MIN MAX
Fixed IRA
0.50% $500 $99,999 Learn MoreShow Less
Variable IRA Rates APY MIN MAX
Var IRA
0.25% $100 $99,999 Learn MoreShow Less
Int Checking Rates APY MIN MAX
Int Ckg
0.05% $1 - Learn MoreShow Less

Loan Rates - December 7, 2019

Your Current Location: Virginia, VA 20146

Home Equity Rates APR Rate Monthly Payment
Refinance Mortgage Rates APR Rate Monthly Payment
Purchase Mortgage Rates APR Rate Monthly Payment

Monthly payments for mortgage products are based on a loan amount of $200,000. Home equity monthly payments are based on a loan amount of $50,000. Auto loan monthly payments are based on a loan amount of $25,000. Rates for each product are based on a variety of factors including credit score and loan amount. For specific requirements please check with the lender. Rates may change at any time.

Branches

Bank Rhode Island branches and locations in your neighborhood. Input a different zip code to find branches and locations for any neighborhood in the United States.

Your Location:
Ashburn,Virginia


Bank Rhode Island Locations


Financial Details

Bank Rhode Island Ratio Analysis

The following ratios and data are available to help you better understand the financial condition of Bank Rhode Island. The data is provided by the FDIC. All banks listed on BestCashCow.com are FDIC-insured. No depositor has ever lost deposits that have been within the FDIC insurance limits.

Texas Ratio
Bank Rhode Island U.S. Bank Average
5.37% 6.77%

The Texas Ratio compares the bank’s non performing assets (non-performing loans and real estate owned) with its the bank’s tangible common equity and its loan loss reserves. A lower Texas ratio indicates better coverage of problem loans. The closer the Texas Ratio is to 1-to-1 or 100%, the less capital and reserves a bank has to absorb its loan losses.

As of June 30, 2019, Bank Rhode Island had $17,783,000 in non-current loans and $201,000 in owned real estate. To cover these potential losses it had $317,042,000 in equity and $17,552,000 in loans loss reserves. That gives it a Texas Ratio of 5.37%.

Return on Equity
Bank Rhode Island U.S. Bank Average
7.77% 9.50%

Bank Rhode Island has a Return on Equity of 7.77% versus the BestCashCow average of 9.50%. Return on equity measures how efficiently a bank is making money from its capital. A bank with a consistently high ROE can be considered well run. A bank with a consistently low ROE can be considered poorly run.

Capitalization
Bank Rhode Island U.S. Bank Average
13.2% 12.76%

Bank Rhode Island has a Capitalization of 13.2% versus the BestCashCow average of 12.76. Capitalization measures how much equity capital a bank has to underpin loans and other assets on its balance sheet. The higher the capitalization number the more secure a bank is considered.

Bank Rhode Island Balance Sheet Analysis

As of June 30, 2019, Bank Rhode Island had assets of $2,402,467,000, loans of $1,874,094,000, and deposits of $1,785,457,000. Long-term increases in deposits shows a bank's ability to raise funds to grow its loans and assets. Loan and asset growth may rise or fall depending on a bank's strategy for growth. Sharp rises and falls in assets, deposits, and loans can be problematic, indicating a loosening of lending standards, or financial distress leading to reduced lending. A big change in these figured can also be from a bank acquisition or merger.

Summary Balance Sheet

June 30, 2019
ASSETS
Cash & Balances due from depository institutions $0.05 billion
Interest-bearing balances $0.02 billion
Total securities $0.26 billion
Federal funds sold and reverse repurchase $0.00 billion
Net loans and leases $1.87 billion
Loan loss allowance $0.02 billion
Trading account assets $0.01 billion
Bank premises and fixed assets $0.00 billion
Other real estate owned $0.00 billion
Goodwill and other intangibles $0.10 billion
All other assets $0.09 billion
     Total Assets $2.09 billion
LIABILITIES
Total deposits $1.79 billion
      Interest-bearing deposits $1.33 billion
      Deposits held in domestic offices $1.79 billion
      % insured (estimated) 67.40%
Federal funds purchased and repurchase agreements $0.09 billion
Trading liabilities $0.01 billion
Other borrowed funds $0.16 billion
Subordinated debt $0.00 billion
All other liabilities $0.04 billion
      Total Liabilities $2.09 billion
      Shareholders’ Equity $0.32 billion

Summary Income Statement

June 30, 2019
INCOME AND EXPENSES
Total Interest Income $0.05 billion
Total Interest Expense $0.01 billion
Net interest income $0.04 billion
Provision for loan and lease losses $0.00 billion
Total non interest income $0.01 billion
Total non interest expense $0.03 billion
Pre-tax Net Operating Income $0.02 billion

Bank Loan Profile?

The top three loan types in Bank Rhode Island’s loan portfolio are Commercial Real Estate, Commercial and Industrial Loans, and 1-4 Family Residential Loans.

Compared to other banks in Rhode Island, Bank Rhode Island has a significantly higher percent of Multifamily Mortgages on its balance sheet, potentially indicating a specialty in that lending area.

Note: Percentages may not sum to 100% due to rounding and double categorization of some loan types. All data from the FDIC. Additional information about this table.

%
Loans
%
Comparison to Other Banks
 Low   Med   High 
1-4 Family Residential Loans 18.13
Multifamily
Mortgages
12.60
Credit Card Loans 0.00
Consumer Auto Loans 0.00
Small Business Loans 8.24
Construction and Development Loans 2.90
Commercial Real Estate 41.10
Commercial and Industrial Loans 22.81
Farm Loans 0.00

Frequently Asked Questions About Bank Rhode Island

Branches and Savings

Is Bank Rhode Island FDIC insured?

Yes. It is covered under FDIC Certificate #34147.

Why does Bank Rhode Island pay such low interest on savings accounts?

See the best online savings rates here. See the best local savings rates here.

Why are Bank Rhode Island CD rates not competitive?

See the best online CD rates here. See the best local CD rates here.

Is Bank Rhode Island a commercial bank?

Yes

Where are Bank Rhode Island locations?

See branch locations nearby.

Is Bank Rhode Island open on Saturdays?

Is Bank Rhode Island open on Sundays?

What time does Bank Rhode Island open?

What time does Bank Rhode Island close?

Are Bank Rhode Island ATMs Open 24/7?

Do Bank Rhode Island ATMs accept cash deposits?

Can Bank Rhode Island customers use other ATMs?

Do Bank Rhode Island branches have notaries?

Will Bank Rhode Island notarize my document?

What address for Bank Rhode Island should I put for incoming ACH transfers?

Will the Bank Rhode Island branch print checks?

Do Bank Rhode Island checks expire?

Does Bank Rhode Island require US citizenship to open account?

Can Bank Rhode Island close my account?

Does Bank Rhode Island Report to credit bureaus?

Does Bank Rhode Island Use Equifax?

What is Bank Rhode Island's ACH Routing Number?

What is Bank Rhode Island's SWIFT code?

Products

Does Bank Rhode Island offer mortgages?

Compare mortgage rates here.

Does Bank Rhode Island offer home equity lines of credit and home equity loans?

Compare home equity lines of credit rates here.

Does Bank Rhode Island offer personal loans?

Compare personal loan rates here.

Does Bank Rhode Island offer student loans?

Will Bank Rhode Island cash a check?

Will Bank Rhode Island redeem a savings bond?

Does Bank Rhode Island cash savings bonds?

Will Bank Rhode Island cash money orders?

Can Bank Rhode Island issue a money order?

Does Bank Rhode Island do currency exchange?

Background on The Bank

Who owns Bank Rhode Island?

How long has Bank Rhode Island been around?

Can Bank Rhode Island transfer to other banks?

Does Bank Rhode Island have quick pay?

Does Bank Rhode Island accept rolled coins?

Will Bank Rhode Island accept loose change?

Where is Bank Rhode Island headquarters?

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