(Editor’s note: This is the fourth installment in a weekly series featuring Rhode Island’s oldest companies as the nation approaches the 250th anniversary of the Declaration of Independence. The other stories from this series can be found here.)
WEST WARWICK – Only at a bank as old as Centreville could a customer relationship last nearly a century.
Glenn Pettit of New England Union has trusted Centreville Bank for almost 90 years. That relationship – which now spans three generations – will be quietly recognized at Centreville’s annual meeting this year, a small but telling example of the kind of longevity that can’t be manufactured overnight.
“It’s pretty typical for us,” said Harold M. Horvat, the bank’s CEO, president and chairman. “We’ve built very deep, generational relationships with customers.”
Founded in 1828 in West Warwick, it’s Rhode Island’s 11th oldest continuously operating business.
In an industry defined by mergers, rebrandings and rapid technological change, Centreville Bank has instead built its identity on continuity – both in its customer base and its mission.
It was established during a time when the state’s economy was still rooted in early industrialization, and local banks were essential to financing mills, small businesses and growing communities.
Nearly two centuries later, that same community-first focus remains central to how the bank operates.
“We’ve always been anchored in the communities that we serve, and that focus really hasn’t changed,” Horvat said.
Part of that consistency stems from Centreville Bank’s structure. As a mutual bank – meaning it has no stockholders – decisions are made with a long-term view, prioritizing customers and communities rather than quarterly returns.
“Essentially, our customers are our owners,” said Horvat.
It’s a structure the mutual bank has maintained since its founding, a rarity in a regional banking landscape marked by consolidation.
While many institutions have been absorbed into larger entities, Centreville Bank has expanded on its own terms, Horvat added, growing beyond its traditional base in the Blackstone Valley to serve communities across Rhode Island and even into eastern Connecticut.
With that growth has come broader visibility.
In recent years, the bank’s name has appeared in places beyond its branches, tied to community investments and sponsorships that reflect a wider geographic reach.
Look no further than Centreville Bank Stadium in Pawtucket, where the bank secured naming rights in 2025 for the home of the Rhode Island Football Club.
Still, Horvat said the goal is not to outgrow its roots, but to extend them.
“If we’re going to be a community-based bank in Rhode Island, we need to be in all areas of the state,” he said.
Maintaining that balance – between growth and identity – is a challenge many community banks face, particularly as technology reshapes how customers interact with financial institutions.
Centreville Bank has embraced those changes cautiously, Horvat said.
In 2019, the bank introduced interactive teller machines, or ITMs, across its branches, allowing customers to conduct transactions with extended hours while still connecting to a live employee based in West Warwick.
For Horvat, the distinction is important.
“We think innovation should enhance relationships and human connection, not replace them,” he said.
That philosophy reflects a broader throughline in the bank’s history: adapting to modern expectations without abandoning the personal touch that defined its early years.
It’s also evident in how the bank approaches its role in the community today.
Over the past decade, Centreville Bank has contributed more than $12 million through its charitable foundation, supporting local nonprofits, scholarships and community initiatives.
Employees also logged more than 5,000 volunteer hours last year across Rhode Island and Connecticut.
“We show up personally, not just financially,” Horvat said.
For Horvat, who has led the bank for nearly 12 years, the responsibility of overseeing an institution with nearly two centuries of history is less about preserving the past than carrying forward its core approach to banking.
“You know, even though technology has evolved, our core values have remained the same,” he said. “It’s knowing our customers by name. It’s being accessible. That’s really the tradition we’ve been very proud of.”
Matthew McNulty is a PBN staff writer. He can be reached at McNulty@PBN.com or on X at @MattMcNultyNYC.
