BancorpRI Named to Keefe, Bruyette and Wood's "Bank Honor Roll" of Superior Performers

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Thu Mar 3, 2011 2:30pm EST

BancorpRI Named to Keefe, Bruyette and Wood's "Bank Honor Roll" of Superior Performers

Bancorp Rhode Island, Inc. (NASDAQ: BARI), the parent company of Bank Rhode Island, has been named to the Keefe, Bruyette and Wood’s (KBW) 2011 ”Bank Honor Roll”, a list of 40 U.S. banking institutions that have generated superior performance over a ten year period. Nearly 400 banks from throughout the U.S. with $500 million or more in total assets were considered for the Honor Roll. All 40 publicly-traded banking institutions that made the list were selected primarily based on the bank’s earnings results.

Bancorp Rhode Island, Inc. is the only Rhode Island company to have made the list.

“We are delighted to be named to KBW’s “Bank Honor Roll”,” stated Merrill W. Sherman, President and CEO of Bancorp Rhode Island, Inc. “Being named one of the top-performing banking institutions in the nation reflects our strategic vision and ability to execute during a time of economic uncertainty.”

In addition to having $500 million or more in total assets, KBW Honor Roll members had to meet the following three conditions: 1) No annual loss reported in net income per share before extraordinary items over the past 10 years; 2) 2010 annual reported net income per-share before extraordinary items must have been equal to or greater than peak net income per-share over the past 10 years and 3) consecutive increases in net income per-share before extraordinary items since 2009.

About BancorpRI

Bancorp Rhode Island, Inc. is the parent company of Bank Rhode Island, a full-service, FDIC-insured, state-chartered financial institution. The Bank, headquartered in Providence, Rhode Island, operates 17 branches and more than 60 ATMs throughout Providence, Kent and Washington Counties. As of December 31, 2010, BankRI had $1.6 billion in assets and $1.1 billion in deposits. For more information, visit www.bankri.com.

Bancorp Rhode Island, Inc.
Linda H. Simmons, 401-574-1652
Chief Financial Officer
lsimmons@bankri.com
or
Debbie Mandeville, 401-574-1547
Investor Relations Officer
dmandeville@bankri.com

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