Bank Rhode Island looks to snag customers from larger rivals
July 23, 2009
By MoneyAisle
An article in the Providence Journal reports that Bank Rhode Island is making moves to profit off of the problems that have been affecting larger financial institutions.
Bank Rhode Island is working on hiring more lenders and business-development officers.
“The Providence-based lender accepted a $30-million federal bailout, but having avoided the subprime loans that dragged down its giant competitors, Bank Rhode Island was able to deploy the cash for small-business loans and to offer low rates for mortgage refinancing.”