PROVIDENCE – Bancorp Rhode Island Inc. (Nasdaq: BARI), the parent of Bank Rhode Island, has announced that its estimates indicate the company’s full slate of board of directors nominees was elected by shareholders at the annual meeting today.
“We are grateful that our shareholders and two of the nation’s leading corporate governance firms recognize the board’s track record for growing our franchise and delivering shareholder value,” Merrill W. Sherman, BancorpRI president and CEO, said in a statement. (The company’s nominees were recommended to shareholders by independent advisory firms Glass Lewis & Co. on May 7 and Institutional Shareholder Services on May 2.)
“During the past few months, we have met with a large number of our shareholders and we value their insights regarding the future of our company,” she said. “We thank all of our shareholders for their continued confidence in the board as well as in BancorpRI’s long-term prospects.”
All proxy cards received by BancorpRI and the PL Capital Group were turned over to IVS Associates Inc., an independent inspector of elections, before polls closed at the meeting.
Final results will be announced after the votes have been certified, probably within the next week, BancorpRI said.
“On behalf of BancorpRI’s board of directors and management team, we thank all of our shareholders for their continued support and confidence throughout this process,” said Malcolm G. Chace, the company’s chairman.
Bancorp Rhode Island Inc. (Nasdaq: BARI), based in Providence, is the parent of Bank Rhode Island, a state-chartered, FDIC-insured institution with 16 branches in Providence, Kent and Washington counties. Additional information on BankRI and its parent company is available at bankri.com.
