CRANSTON – Coastway Community Bank’s new branch in Lincoln is opening with a weeklong celebration from Dec. 16 through Dec. 21, including daily prize drawings, give-aways and refreshments, the bank announced. The new facility on George Washington Highway is a relocation of a branch on Front Street in Lincoln.
The new branch is highlighting its connection to the community with informational tables for regional organizations including Lincoln YMCA, Northern Rhode Island Chamber of Commerce, Progreso Latino and Community College of Rhode Island.
Coastway Community Bank converted from a credit union to a community bank in 2009 and currently has nine branches. In addition to the Lincoln branch, Coastway has branches in Cranston, East Providence, East Greenwich, Providence and Warwick.
Coastway Community Bank is preparing for an initial public offering during the first quarter of 2014 in order to raise additional capital to meet the high demand for lending the bank is experiencing, President and CEO Bill White has told Providence Business News. The loan demand is both for business lending and residential mortgage lending, White said.