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Article: BankBoston, Fleet Merger Likely to Bring New Bank to Rhode Island.
- Article from:
- Knight Ridder/Tribune Business News
- Article date:
- May 2, 1999
- Author:
CopyrightCOPYRIGHT 1999 Knight-Ridder/Tribune Business News. 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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Knight Ridder/Tribune Business News
May 2 -- By this time next year, Rhode Island will almost certainly have a new bank.
And chances are good its headquarters won't be in Rhode Island -- and maybe not even in New England.
This month, to win regulators' approval of its takeover of BankBoston Corp., Fleet Financial Group is expected to begin auctioning off about $13 billion in customer deposits in some 270 branches in Rhode Island, Massachusetts and Connecticut.
But despite all the buzz about who will bid on Rhode Island's $2.5 billion in deposits, or about 40 BankBoston branches, one point comes through: none of the state's community ...