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Article: Bancorp Rhode Island Receives $30 Million as a Voluntary Participant in the U.S. Treasury's Capital Purchase Program.
- Article from:
- Business Wire
- Article date:
- December 19, 2008
CopyrightCOPYRIGHT 2008 Business Wire. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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PROVIDENCE, R.I. -- Bancorp Rhode Island, Inc. ("BancorpRI") (NASDAQ: BARI), the parent company of Bank Rhode Island ("BankRI"), today announced that it has received $30 million as a participant in the U.S. Treasury Department's Capital Purchase Program. The Capital Purchase Program is a voluntary program available to healthy financial institutions such as BankRI, which is designed to increase the availability of credit to businesses and consumers.
In October, BancorpRI reported a year-over-year increase in both third quarter and year-to-date earnings and a 15 percent increase in commercial loan balances from the third quarter of 2007.
"This is good ...
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