PROVIDENCE – The election of all company nominees to the Bancorp Rhode Island Inc. (Nasdaq: BARI) board of directors has been confirmed by an independent election inspector, the company said.
The results were certified by IVS Associates Inc., which found that 4.4 million shares of BancorpRI common stock – more than 90 percent of shares outstanding – were voted at the company’s annual meeting. More than 62 percent of votes cast at the meeting were for the directors recommended by the BancorpRI board, IVS Associates found.
“On behalf of BancorpRI’s board of directors and management team, we thank both our institutional and individual investors for their continued support of the board’s nominees … all of whom have extensive financial and business experience, along with an understanding of the Rhode Island market,” Malcolm G. Chace, BancorpRI’s chairman, said in a statement.
Directors John R. Berger, Richard L. Bready, Mark R. Feinstein, Michael E. McMahon and Dr. Pablo Rodriguez will serve on the BancorpRI board until the 2010 annual shareholders’ meeting. IVS Associates found each was elected by a margin of more than 1 million votes over the competing nominees– PL Capital Group principals Richard Lashley and John Palmer – put forward by PL Capital in a proxy contest.
Bancorp Rhode Island Inc. (Nasdaq: BARI) is the parent of Bank Rhode Island, a state-chartered, FDIC-insured institution with 16 branches in Providence, Kent and Washington counties. Additional information on BankRI and its parent company is available at bankri.com.
