Bancorp RI 2Q profit drops by a third

(Updated, July 22) PROVIDENCE – Bancorp Rhode Island Inc. said Thursday that its second-quarter profit dropped by a third to $1.82 million as it recorded expenses related to BancorpRI’s pending acquisition by a Massachusetts bank. BancorpRI, parent of Bank Rhode Island, said the acquisition-related expenses totaled $1.5 million for the quarter and included “compensation expense…

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