Rhode Island banks profit at nearly triple the national rate

THE FEDERAL Deposit Insurance Corp. tracks banking statistics for all financial institutions it insures. / PBN FILE PHOTO
THE FEDERAL Deposit Insurance Corp. tracks banking statistics for all financial institutions it insures. / PBN FILE PHOTO
PROVIDENCE – Rhode Island-based banks grew profit at a much faster clip than the rest of the country during the first half of 2017, according to the Federal Deposit Insurance Corp. The nine FDIC-backed Rhode Island banks reported an aggregate net income of $577 million during the first two quarters of 2017, according to figures…

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