Bank Rhode Island Lowers Prime Lending Rate.Business Editors PROVIDENCE Providence, city (1990 pop. 160,728), state capital and seat of Providence co., NE R.I., a port at the head of Providence Bay; founded by Roger Williams 1636, inc. as a city 1832. , R.I.--(BUSINESS WIRE)--Dec. 12, 2001 Bank Rhode Island Rhode Island, island, United States Rhode Island, island, 15 mi (24 km) long and 5 mi (8 km) wide, S R.I., at the entrance to Narragansett Bay. It is the largest island in the state, with steep cliffs and excellent beaches. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on : BARI) announced a one-quarter percent decrease in its prime lending rate The lowest rate of interest that a financial institution, such as a bank, charges its best customers, usually large corporations, for short-term unsecured loans. The prime lending rate is an economic indicator and is often used as a measuring point for adjusting interest to 4.75%, effective Thursday, December 13. Bank Rhode Island, a wholly-owned subsidiary of Bancorp Rhode Island, Inc., is a full-service, FDIC-insured financial institution headquartered in Providence. The Bank operates 13 branches throughout Providence and Kent Counties as well at 58 ATMs throughout the state. As of September 30, 2001, Bancorp Rhode Island's total assets stood at $846.0 million and total deposits were $652.4 million. Bancorp Rhode Island's common stock is traded on the NASDAQ National Market under the symbol "BARI" and its corporate web site is located at www.bankri.com. |
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