Bank RI makes list of healthiest banks in America

BANK RHODE ISLAND made a list of the 200 healthiest banks, according to depositaccounts.com.
BANK RHODE ISLAND made a list of the 200 healthiest banks, according to depositaccounts.com.

PROVIDENCE – Bank Rhode Island is one of the healthiest banks in America, ranking 192 out of 200 banks listed, according to depositaccounts.com, a bank account comparison site.

The list was made using the “Texas Ratio,” an indicator of how much capital a bank has available compared with the total value of loans considered at risk.

According to the website, as of June 30, Bank RI, the third largest bank in the state, had $10.65 million in non-current loans and owned real-estate with $258.68 million in equity and loan loss allowances on hand to cover it, giving Bank RI a Texas Ratio of 4.12 percent, which is considered excellent. Any bank with a Texas Ratio near or greater than 100 percent is considered at risk. Bank Rhode Island received an A+ in this category.

The bank also received an A+ in deposit growth and capitalization. The website said the bank increased its total deposits by $96.95 million, resulting in 7.98 percent growth for the year.

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“A strong track record of growth is an indicator of consumer confidence and the bank’s ability to strengthen its balance sheet. The growth Bank Rhode Island has shown is excellent,” the website started.

As for capitalization, Bank RI has $1.86 billion in assets with $258.68 million in equity, resulting in a capitalization level of 13.94 percent, also excellent, the website said.

No other Rhode Island banks made the top 200 list. No. 1 was Malaga Bank in California. Read the entire list HERE.

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