Bancorp Rhode Island Inc. is the bank holding company for Bank Rhode Island (the Bank). The Company has no significant assets other than the common stock of the Bank. Bank Rhode Island is a commercial bank, formed in 1996, as a result of the acquisition of certain assets and liabilities divested in connection with the merger of Fleet Financial Group, Inc. and Shawmut National Corp. The Bank conducts business through 13 full-service branches, with nine located in Providence County and four located in Kent County. Bank Rhode Island offers deposit products, commercial, residential and consumer loans, non-deposit investment products, online banking services and other banking products and services designed to meet the needs of individuals and small to mid-sized businesses. Its principal subsidiary, BRI Investment Corp., wholly owned by the Bank, is engaged in the maintenance and management of intangible investments and the collection and distribution of the income from such investments.