Bank Rhode Island Promotes Donald C. McQueen and James V. DeRentis.

Business Editors

PROVIDENCE, R.I.--(BUSINESS WIRE)--Oct. 30, 2001

Bank Rhode Island today announced the appointment of Executive Vice President Donald C. McQueen to the newly created position of Chief Credit and Administrative Officer and the appointment of James V. DeRentis to Executive Vice President, Retail Banking and Marketing.

Both members of Executive Management, Mr. McQueen and Mr. DeRentis have played key roles in growing the Bank since its formation in 1996.

"Since day one, Don has been instrumental in helping Bank Rhode Island grow into a leading commercial lender in the State and reach its financial goals," said Merrill W. Sherman, President & CEO of Bank Rhode Island. "Jim has been a vital part of our growing retail presence and has helped us develop a diverse and innovative array of products. These promotions will help position the Bank for continued growth over the next three to five years."

Mr. McQueen has served as the Bank's Chief Lending Officer since 1998. In addition to his current duties overseeing all lending activities, Mr. McQueen's new role also will include the oversight of Credit Administration, Risk Management and Facilities Management.

Mr. McQueen joined the Bank in 1995 prior to its formation and helped in the incorporation of the institution. Prior to joining Bank Rhode Island, Mr. McQueen was Vice President, Corporate Banking and Managed Assets at Fleet Bank. In his career, Mr. McQueen has also served as Senior Credit Officer at Eastland Bank, Vice President-Corporate Lending at BankBoston and in a variety of commercial lending positions at Security Pacific National Bank and BayBanks.

Mr. McQueen, a Barrington resident, holds a degree in Economics from Dartmouth College and an MBA in Finance and Accounting from Boston University. He is on the Board of Directors of the Rhode Island Philharmonic, The Business Development Company of Rhode Island and the Rhode Island Bankers Association, where he also serves as chair of the Legislative Committee.

Mr. DeRentis has served as Senior Vice President of Retail Banking since 1999 and has headed the Bank's marketing efforts since last year. His responsibilities include all retail banking operations, marketing, the Bank's personal investment program and its alternate delivery channels.

Prior to joining Bank Rhode Island in 1996, Mr. DeRentis was Vice President, Business Development Officer at Citizens Bank in Providence, Rhode Island and at NationsBank in West Palm Beach, Fla.

Mr. DeRentis, a Providence resident, holds a Bachelor of Science degree from Bryant College and a Masters of Business Administration from Providence College. He is on the Board of Directors of the Providence Preservation Society, Stop Wasting Abandoned Property (SWAP), Business Volunteers for the Arts, the Democracy Compact and AIDs Care Ocean State.

Bank Rhode Island, a wholly-owned subsidiary of Bancorp Rhode Island, Inc., is a full service, FDIC insured, state chartered financial institution headquartered in Providence. Bank Rhode Island's total assets stood at $845.9 million as of September 30, 2001 and total deposits were $652.4 million.