Centreville Bank expands operations to Aquidneck Island

CENTREVILLE BANK executives, Middletown leaders and Greater Newport Chamber of Commerce representatives celebrate the opening of the bank's free-standing loan production office on Aquidneck Avenue in Middletown. / COURTESY CENTREVILLE BANK 

MIDDLETOWN – Centreville Bank has branched out across Narragansett Bay.

The West Warwick-based financial institution has opened a loan office in Middletown, the first time in its 195-year history that Centreville has set up shop in any East Bay community.

The site, at 1171 Aquidneck Ave., is the bank’s second free-standing loan production office. The other is located in Providence.

“We are excited that it is now operational and available to businesses and individuals,” said Leland R. Merrill, executive vice president and chief lending officer at Centreville Bank. “This office will serve as a hub for our commercial bankers and consumer loan officers on Aquidneck Island. It’s the first step in our long-term strategy to increase access to our products and services to customers in this area of the state.”

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The bank says it expects to open three more branches this year, including ones in Newport and Smithfield.

Centreville Bank, which controls $2 billion in total assets, has 11 locations in Rhode Island and seven in eastern Connecticut.

The Middletown loan office will be focused on commercial lending, business banking, residential mortgages and personal loans. Customers can meet with Centreville bankers by appointment and the office includes a walk-up ATM that enables access to “live” customer service representatives Monday through Friday from 7 a.m. to 7 p.m. and on Saturday from 9 a.m. to 1 p.m.

“We are thrilled to have Centreville open up and invest in the business community here on Aquidneck Island,” Erin Donovan-Boyle, Greater Newport Chamber of Commerce CEO and president, said in a Centreville news release. “Our small business community continuously needs access to capital and support from trusted financial institutions, dedicated to their success. I’m confident Centreville’s entry into our market will prove to be value added for them and the broader business community.”

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