R.I. banks having a stellar year, FDIC report shows

FDIC statistics released Thursday show that Rhode Island banks and their counterparts nationwide are having a stellar year, boosting collective profits by 25 percent. / BLOOMBERG NEWS FILE PHOTO/ANDREW HARRER
FDIC statistics released Thursday show that Rhode Island banks and their counterparts nationwide are having a stellar year, boosting collective profits by 25 percent. / BLOOMBERG NEWS FILE PHOTO/ANDREW HARRER
PROVIDENCE – Bolstered by a large cut in the corporate tax rate, United States banks collectively are on a financial roll, and the nine banks headquartered in Rhode Island are no exception, new federal banking statistics show. Rhode Island-based banks boosted their combined profits to $723 million in the first half of the year. That…
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