Providence-based Bank Rhode Island announced a one-quarter percent increase in its prime lending rate, from 4.5 percent to 4.75 percent, effective Wednesday, Sept. 22.
Bank Rhode Island, a wholly-owned subsidiary of Bancorp Rhode Island Inc., is an FDIC-insured financial institution. As of June 30, Bancorp Rhode Island’s total assets stood at $1.2 billion and total deposits were $887.8 million.
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