Bancorp Rhode Island, Inc.

One Turks Head Place
Providence, RI 02903
401-456-5000; fax 401-456-5059
Employees: 167

Bancorp Rhode Island, Inc. is the holding company for Bank Rhode Island, which
was formed from divested branches after Fleet Financial acquired Shawmut Bank.
Bank Rhode Island has grown steadily, now operating 13 branches in Providence
and Kent counties. For the three months ended March 31, total interest income
rose 31 percent to $14.2 million and net income rose 19 percent to $1.6 million.
For the three months ended June 30, after tax earnings were $1.572 million.

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Stock Information
Exchange: NASDAQ
Symbol: BARI
Annual meeting: May 16, 2001
Shares of common stock outstanding as of July 26, 2001: 3,740,000
Stock price as of Thursday, July 26, 2001: $17.50
Market value as of Thursday, July 26, 2001: $65,450,000
12-month high stock price: $17.98
12-month low stock price: $11.13

Operating Results
(dollars in thousands, except per share data)

Directors

John R. Berger, 57, director since 1997, business consultant. Shares:
3,500

Karl F. Ericson, 67, director since 1996, business consultant and certified
public accountant. Shares: 10,500

Margaret D. Farrell, 51, director since 1996, partner of Hinckley, Allen
& Snyder, law firm. Shares: 4,500

Mark R. Feinstein, 45, director since 1996, president of Northeast Management,
Inc. Shares: 16,000

F. James Hodges, 61,director since 1996, chairman of the board of Hodges
Badge Co. Shares: 37,320

Donald J. Reaves, 54, director since 1996, executive vice president for
finance and administration and chief financial officer of Brown University.
Shares: 3,500

Cheryl W. Snead, 42, director since 1996, president and chief executive
officer of Banneker Industries, Inc. Shares: 3,000

John A. Yena, 60, director since 1996, president of Johnson & Wales
University. Shares: 7,500

Anthony F. Andrade, 53, director since 1996, president of A&H Composition
and Printing. Shares: 62,500

Malcolm G. Chace, 66, director since 1996, chairman of the bancorp and
bank. Shares: 389,333

Ernest J. Chornyei, Jr., director since 1996, business consultant. Shares:
110,500

Merrill W. Sherman, 52, director sine 1996, president and chief executive
officer of the bancorp and bank. Shares: 178,775

Directors’ fees
Directors of the company, other than Merrill Sherman, receive an annual retainer
of $7,500, plus $100 for each Bancorp Board meeting attended, and $50 for each
Bancorp Committee meeting attended.

Top institutional holders
Keefe Managers, Inc., 100,000 shares;
Baldwin Brothers, Inc., 44,525 shares;
Dearden, Maguire, Weaver & Barrett, Inc., 35,700 shares;
Parsons Capital Management, Inc., 30,600 shares.

Executive compensation

*Executive compensation includes salary, bonuses, and other compensation, including
life insurance, cash profit sharing and other payments.

Source: Proxy statement, annual report, quarterly reports, and
other PBN research