| • |
1784 |
A “Bank of Rhode Island and Providence Plantations” is planned by John Brown and others, but the project is abandoned due to a lack of capital |
| • |
October 3, 1791 |
Providence Bank is granted a charter by the General Assembly, becoming the first bank in Rhode Island and the fifth in the United States |
| • |
October, 1795 |
Bank of Rhode Island (Newport) founded |
| • |
June, 1800 |
Bank of Bristol founded |
| • |
August 22, 1800 |
Washington Bank of Westerly opens for business |
| • |
March, 1801 |
Exchange Bank of Providence founded |
| • |
October, 1803 |
Warren Bank founded |
| • |
November, 1803 |
Newport Bank founded |
| • |
November, 1803 |
Roger Williams Bank of Providence founded |
| • |
February, 1804 |
Farmer’s Exchange Bank of Glocester founded |
| • |
July, 1804 |
Rhode Island Union Bank of Newport founded |
| • |
October, 1804 |
Rhode Island Central Bank of East Greenwich founded |
| • |
March, 1805 |
Smithfield Union Bank founded |
| • |
November, 1805 |
Narragansett Bank of Wickford founded |
| • |
December 31, 1808 |
Farmer’s Exchange Bank of Glocester fails after it cannot cover the large amount of currency it has printed and released into circulation |
| • |
March, 1809 |
Commercial Bank of Bristol founded |
| • |
October, 1813 |
Manufacturers Bank of North Providence/Providence founded by Samuel Slater |
| • |
October, 1814 |
Pawtuxet Bank of Warwick/Providence founded |
| • |
November, 1814 |
Union Bank of Providence founded |
| • |
1815 |
Burrillville Agricultural Bank chartered in the village of Slatersville in Smithfield |
| • |
1817 |
The Providence branch of the Second Bank of the United States opens |
| • |
January, 1817 |
Freemen’s Bank of Bristol founded |
| • |
March, 1817 |
Merchants Bank of Newport founded |
| • |
February, 1818 |
Franklin Bank of Chepachet founded |
| • |
February, 1818 |
Scituate Bank of Scituate/North Scituate founded |
| • |
February, 1818 |
Merchants Bank in Providence founded |
| • |
February, 1818 |
New England Commercial Bank of Newport founded |
| • |
February, 1818 |
Cranston Bank founded |
| • |
March, 1818 |
Eagle Bank of Providence founded |
| • |
March, 1818 |
Eagle Bank of Bristol founded |
| • |
March, 1818 |
Landholders Bank of South Kingston founded |
| • |
March, 1818 |
Warwick Bank founded |
| • |
June, 1818 |
Burrillville Agricultural Bank changes its name to the Burrillville Agricultural & Manufacturing Bank (Slatersville) |
| • |
June, 1818 |
Phenix Bank of Westerly founded |
| • |
July, 1818 |
Bank of Kent in Coventry founded |
| • |
1818 |
New England Pacific Bank of Smithfield/North Providence incorporated |
| • |
1818 |
South Kingston Bank founded in Kingston, but does not open |
| • |
June, 1819 |
Savings Bank of Newport incorporated |
| • |
October, 1819 |
Providence Institution for Savings is founded, affilated with the Providence Bank. It is Providence’s first savings bank |
| • |
October, 1819 |
Bristol Institution for Savings incorporated |
| • |
1819 |
South Kingston Bank changes its name to the North Kingston Bank and opens in Wickford |
| • |
May, 1820 |
Burrillville Bank founded |
| • |
May, 1820 |
Mount Hope Bank of Bristol founded |
| • |
October, 1822 |
Burrillville Agricultural & Manufacturing Bank changes its name to the Village Bank (Slatersville) |
| • |
1822 |
Hope Bank of Warren founded |
| • |
1822 |
Smithfield Exchange Bank of Smithfield/Greenville founded |
| • |
May, 1823 |
Cumberland Bank of Cumberland (Woonsocket) founded |
| • |
May, 1823 |
Farmers & Mechanics Bank of Pawtucket founded |
| • |
June 30, 1823 |
Mechanics Bank of Providence founded |
| • |
October, 1823 |
Mount Vernon Bank of Foster/Providence founded |
| • |
December 5, 1823 |
Smithfield Lime Rock Bank of Smithfield/Providence founded |
| • |
1823 |
Rhode Island Agricultural Bank of Johnston chartered |
| • |
May, 1825 |
Bank of North America of Providence founded |
| • |
May, 1825 |
Bristol Union Bank/Fall River Union Bank of Bristol/Tiverton(Fall River) founded |
| • |
May, 1827 |
New England Pacific Bank of Smithfield/North Providence founded |
| • |
1827 |
Mechanics & Manufacturers Bank of Providence founded |
| • |
1828 |
High Street Bank of Providence founded |
| • |
1828 |
Woonsocket Falls Bank of Cumberland (Woonsocket) founded |
| • |
October, 1829 |
Centreville Bank of Warwick founded |
| • |
1829 |
Farmers & Mechanics Bank of Pawtucket fails |
| • |
January 18, 1831 |
Blackstone Canal Bank of Providence founded |
| • |
June, 1831 |
Arcade Bank of Providence founded |
| • |
June, 1831 |
Weybosset Bank of Providence founded |
| • |
October, 1831 |
Globe Bank of Providence founded |
| • |
April 3, 1832 |
Burrillville Bank fails after it cannot cover the large amount of currency it has printed and released into circulation |
| • |
1832 |
Citizens Union Bank of Scituate founded |
| • |
June, 1833 |
Pascoag Bank (later Granite Bank) founded |
| • |
June, 1833 |
City Bank of Providence founded |
| • |
August, 1833 |
Commercial Bank of Providence founded |
| • |
October, 1833 |
Phenix Bank of Providence founded (formerly Farmers & Mechanics Bank of Pawtucket) |
| • |
October, 1833 |
American Bank of Providence founded |
| • |
1833 |
National Bank of Providence founded |
| • |
September, 1834 |
Newport Exchange Bank of Newport founded |
| • |
October, 1834 |
Exeter Bank of Exeter founded |
| • |
October, 1834 |
Providence County Bank of Smithfield founded |
| • |
1834 |
North Providence Bank founded |
| • |
April, 1835 |
Wakefield Bank founded |
| • |
January, 1836 |
Pawtucket Institution for Savings incorporated |
| • |
February, 1836 |
Scituate Bank of Scituate/North Scituate closes due to poor management and the worsening economy |
| • |
January, 1837 |
Traders Bank of Newport founded |
| • |
1841 |
The Providence Conference Seminary of East Greenwich begins offering classes in banking |
| • |
September 30, 1843 |
Rhode Island Agricultural Bank of Johnston fails |
| • |
March, 1844 |
Providence County Bank changes its name to the Globe Bank in Globe Village, Woonsocket |
| • |
May, 1845 |
Warwick Institution for Savings incorporated |
| • |
June, 1845 |
Woonsocket Institution for Savings incorporated |
| • |
January 16, 1847 |
Peoples Bank of North Providence founded |
| • |
1847 |
North Kingston Exchange Bank incorporated, but the business never opens and its charter is repealed one year later |
| • |
January, 1849 |
The Hamilton Bank of Scituate is founded. It is a reincarntion of the former Scituate Bank |
| • |
May, 1849 |
The Hamilton Bank fails |
| • |
May, 1849 |
East Greenwich Institution for Savings incorporated |
| • |
May, 1850 |
State Bank of Providence founded |
| • |
August 31, 1850 |
Wakefield Institution for Savings incorporated |
| • |
September 15, 1850 |
Hopkinton Bank of Westerly/Hopkinton founded |
| • |
September 21, 1850 |
Coventry Bank of Anthony Village founded |
| • |
1850 |
Mount Hope Bank of Bristol fails |
| • |
May, 1851 |
Bank of America of Providence founded |
| • |
May, 1851 |
Bank of Commerce in Providence founded |
| • |
May, 1851 |
Peoples Savings Bank of Providence incorporated. It is associated with the Bank of Commerce |
| • |
August, 1851 |
Bank of the South County in Wakefield founded |
| • |
September 17, 1851 |
Pascoag Bank reorganized as the Granite Bank of Pascoag |
| • |
October 13, 1851 |
Citizens Bank of Cumberland (Woonsocket) founded |
| • |
October, 1851 |
Savings Bank in Tiverton incorporated |
| • |
November, 1851 |
Rail Road Bank of Cumberland (Woonsocket) founded |
| • |
May, 1852 |
Producers Bank of Woonsocket founded |
| • |
1852 |
Rhode Island Exchange Bank of East Greenwich founded |
| • |
May, 1853 |
Atlantic Bank of Providence founded |
| • |
May, 1853 |
Butchers & Drovers Bank of Providence founded |
| • |
May, 1853 |
What Cheer Bank of Providence founded |
| • |
May, 1853 |
Providence County Savings Bank of Pawtucket incorporated |
| • |
June, 1853 |
Citizens Savings Institution of Woonsocket is incorporated |
| • |
August 15, 1853 |
Continental Bank of Providence founded |
| • |
March, 1854 |
Peoples Exchange Bank of Wakefield founded |
| • |
May, 1854 |
Grocers & Producers Bank of Providence founded |
| • |
May, 1854 |
Pocasset Bank of Tiverton (Fall River) founded |
| • |
May, 1854 |
Westminster Bank of Providence founded |
| • |
May, 1854 |
Aquidneck Bank of Newport founded |
| • |
May, 1854 |
Westerly Savings Bank incorporated |
| • |
June 15, 1854 |
Liberty Bank of Providence founded |
| • |
June, 1854 |
Mechanics Savings Bank, an affiliate of City Bank of Providence, founded |
| • |
July 15, 1854 |
Jackson Bank of Providence founded |
| • |
August, 1854 |
Mercantile Bank of Providence founded |
| • |
August, 1854 |
Niantic Bank of Westerly founded |
| • |
August 21, 1854 |
Atlas Bank of Providence founded |
| • |
August 21, 1854 |
Elmwood Bank of Cranston founded |
| • |
1854 |
Island Bank of Block Island is incorporated in New Shoreham but does not commence business |
| • |
May, 1855 |
Tiverton Bank of Tiverton (Fall River) founded |
| • |
May, 1855 |
Franklin Five Cent Savings Bank of Providence is incorporated but doesn’t commence business until 1861 |
| • |
June 14, 1855 |
Kingston Savings Bank is incorporated |
| • |
June 25, 1855 |
Wickford Savings Bank incorporated |
| • |
June, 1855 |
Bank of the Republic in Providence founded |
| • |
July 9, 1855 |
Ashaway Bank founded |
| • |
September 8, 1855 |
Slater Bank of North Providence founded |
| • |
September 8, 1855 |
Sowamset Bank of Warren founded |
| • |
September 8, 1855 |
Farmers Bank of Wickford founded (originally organized as the Wickford Bank, this name was changed soon thereafter) |
| • |
January, 1856 |
Warren Institution for Savings incorporated |
| • |
May, 1856 |
Coddington Five Cent Savings Bank of Newport incorporated |
| • |
August, 1856 |
Marine Bank of Providence founded |
| • |
September, 1856 |
Washington County Bank of Carolina founded. Carolina is a village in Charlestown, Washington County |
| • |
October 27, 1856 |
Bank of the Republic in Providence fails |
| • |
November, 1856 |
Northern Bank in Providence founded |
| • |
December, 1856 |
Greenwich Bank of East Greenwich founded |
| • |
December, 1856 |
Phenix Village Bank of Phenix (a village in Warwick) founded |
| • |
December, 1856 |
Richmond Bank founded |
| • |
1857 |
Moshassuck Bank of Providence incorporated, but does not open |
| • |
April 2, 1857 |
Franklin Savings Bank of Pawtucket is incorporated under the laws of Massachusetts |
| • |
May, 1857 |
Peoples Savings Bank of Woonsocket incorporated |
| • |
1857 |
The Panic of 1857, the first world-wide economic crisis, causes bank failures across the nation |
| • |
August 25, 1857 |
Farmers Bank of Wickford fails |
| • |
August 25, 1857 |
Rhode Island Central Bank of East Greenwich fails |
| • |
August 25, 1857 |
Tiverton Bank fails |
| • |
August 31, 1857 |
Hopkinton Bank of Westerly fails |
| • |
December 9, 1857 |
Bank of South County fails |
| • |
June, 1858 |
Phenix Savings Bank of Phenix incorporated |
| • |
January 15, 1859 |
Mount Vernon Bank of Providence fails |
| • |
January 26, 1859 |
Warwick Bank closes |
| • |
January, 1859 |
City Savings Bank of Providence is incorporated. It is an affiliate of the National Bank of Providence |
| • |
February 10, 1860 |
Rhode Island Exchange Bank of East Greenwich fails after massive embezzlement exposed |
| • |
1862 |
The boundary line between Rhode Island and Massachusetts changes, locating the Pocasset and the Fall River Union banks, formerly of Fall River, RI, within Massachusetts |
| • |
January 14, 1863 |
Bryant & Stratton Business College of Providence is chartered. The school offers classes in banking and bookkeeping |
| • |
January, 1863 |
Franklin Five Cent Savings Bank of Providence changes name to Franklin Institution of Savings |
| • |
February 25, 1863 |
Congress passes the National Banking Act, allowing banks to obtain federal charters and issue currency printed and backed by the U.S. Treasury |
| • |
November 28, 1863 |
First National Bank of Providence (formerly the Mercantile Bank) organized and granted federal charter #134 |
| • |
January, 1864 |
Coddington Five Cent Savings Bank (Newport) changes name to Coddington Savings Bank |
| • |
May, 1864 |
Pascoag Savings Bank incorporated |
| • |
November 9, 1864 |
Second National Bank of Providence organized and granted federal charter #564 |
| • |
December 20, 1864 |
Third National Bank of Providence organized and granted federal charter #636. It had formerly been the Marine Bank of Providence |
| • |
December 30, 1864 |
First National Bank of Warren (formerly the Sowamset Bank) organized and granted federal charter #673 |
| • |
1864 |
Washington County Bank of Carolina placed in receivership |
| • |
January 31, 1865 |
Fourth National Bank of Providence (formerly the Continental Bank) organized and granted federal charter #772 |
| • |
February 13, 1865 |
First National Bank of Hopkinton organized and granted federal charter #1054 . This is the successor to the Richmond Bank of Alton, which closes in 1866 |
| • |
February 18, 1865 |
National Niantic Bank (formerly the Niantic Bank of Westerly) organized and granted federal charter #823 |
| • |
February 27, 1865 |
First National Bank of Pawtucket organized and granted federal charter #843. It assumes the assets of the Peoples Bank of North Providence |
| • |
March 3, 1865 |
Slater National Bank of North Providence (formerly Slater Bank) organized and granted federal charter #856 |
| • |
March 28, 1865 |
Phenix National Bank (formerly the Phenix Bank, Providence) organized and granted federal charter #948 |
| • |
March 29, 1865 |
Washington National Bank (formerly the Washington Bank of Westerly) organized and granted federal charter #952 |
| • |
March- August, 1865 |
Ashaway National Bank (formerly the Ashaway Bank) organized and granted federal charter #1150 |
| • |
April 1, 1865 |
Citizens National Bank (formerly the Citizens Bank of Woonsocket) organized and granted federal charter #970 |
| • |
April 6, 1865 |
Rhode Island National Bank (formerly the Arcade Bank of Providence) is organized and granted federal charter #983 |
| • |
April 12, 1865 |
Fifth National Bank of Providence (formerly the Mechanics & Manufacturers Bank) organized and granted federal charter #1002 |
| • |
April 14, 1865 |
Mechanics National Bank (formerly the Mechanics Bank of Providence) organized and granted federal charter #1007 |
| • |
April 14, 1865 |
National Hope Bank (formerly the Hope Bank of Warren) organized and granted federal charter #1008 |
| • |
April 17, 1865 |
First National Bank of Newport (formerly Traders Bank of Newport) organized and granted federal charter #1021 |
| • |
April 17, 1865 |
National Eagle Bank (formerly the Eagle Bank, Providence) organized and granted federal charter #1030 |
| • |
1865 |
First National Bank of Smithfield at Slatersville organized and granted federal charter #1035 (formerly the Village Bank, also the Burrillville Agricultural and Manufacturer’s Bank) |
| • |
April 17, 1865 |
National Bank of North America (formerly the Bank of North America in Providence) organized and granted federal charter #1036 |
| • |
April 26, 1865 |
Woonsocket National Bank (formerly the Woonsocket Falls Bank) organized and granted federal charter #1058 |
| • |
May, 1865 |
The Cranston Bank closes |
| • |
May 9, 1865 |
Globe National Bank (formerly the Globe Bank of Providence) organized and granted federal charter #1126 |
| • |
May 15, 1865 |
Old National Bank (formerly a state bank in Providence named simply, the National Bank) organized and granted federal charter #1151 |
| • |
May 17, 1865 |
National Landholders Bank (formerly the Landholders Bank of Kingston) organized and granted federal charter #1158 |
| • |
1865 |
Coventry National Bank (formerly the Coventry Bank of Anthony) organized and granted federal charter #1161 |
| • |
May 18, 1865 |
National Phenix Bank (formerly the Phenix Bank of Westerly) organized and granted federal charter #1169 |
| • |
May 20, 1865 |
Weybosset National Bank (formerly the Weybosset Bank of Providence) organized and granted federal charter #1173 |
| • |
April 27, 1865 |
Wakefield National Bank (formerly the Wakefield Bank) organized and granted federal charter #1206 |
| • |
June 16, 1865 |
Manufacturers National Bank of Providence (formerly Manufacturers Bank of North Providence) organized and granted federal charter #1283 |
| • |
1865 |
Centerville National Bank of Warwick (formerly the Centreville Bank) organized and granted federal charter #1284 |
| • |
June 16, 1865 |
First National Bank of Bristol (formerly the Freemen’s Bank) organized and granted federal charter #1292 |
| • |
1865 |
Providence National Bank (formerly the Providence Bank) organized and granted federal charter #1302 |
| • |
June 21, 1865 |
Commercial National Bank (formerly the Commerical Bank of Providence) organized and granted federal charter #1319 |
| • |
1865 |
Blackstone Canal National Bank (formerly the Blackstone Canal Bank of Providence) organized and granted federal charter #1328 |
| • |
1865 |
National Exchange Bank (formerly the Exchange Bank of Providence) organized and granted federal charter #1339 |
| • |
1865 |
National Bank of Commerce (formerly the Bank of Commerce, Providence) organized and granted federal charter #1366 |
| • |
June 7, 1865 |
Lime Rock National Bank of Providence (formerly the Smithfield Lime Rock Bank) organized and granted federal charter #1369 |
| • |
July 7, 1865 |
Traders National Bank (formerly the Traders Bank of Providence) organized and granted federal charter #1396 |
| • |
July 7, 1865 |
First National Bank of Woonsocket (formerly the Rail Road Bank) organized and granted federal charter #1402 |
| • |
1865 |
Cumberland National Bank (formerly the Cumberland Bank) organized and granted federal charter #1404 |
| • |
July 8, 1865 |
Greenwich National Bank (East Greenwich) organized and granted federal charter #1405. It was formerly the Greenwich Bank |
| • |
1865 |
National Union Bank of Woonsocket (formerly the Smithfield Union Bank) organized and granted federal charter #1409 |
| • |
July 11, 1865 |
National Warren Bank (formerly the Warren Bank) organized and granted federal charter #1419 |
| • |
1865 |
National Globe Bank (formerly the Globe Bank of Woonsocket) organized and granted federal charter #1423 |
| • |
July 12, 1865 |
City National Bank (formerly the City Bank of Providence) organized and granted federal charter #1429 |
| • |
July 17, 1865 |
Phenix National Bank of Phenix (formerly the Phenix Village Bank) organized and granted federal charter #1460 |
| • |
July 20, 1865 |
American National Bank (formerly the American Bank of Providence) organized and granted federal charter #1472 |
| • |
1865 |
Newport National Bank (formerly the Newport Bank) organized and granted federal charter #1492 |
| • |
1865 |
National Exchange Bank of Greenville (formerly the Smithfield Exchange Bank) organized and granted federal charter #1498 |
| • |
August, 1865 |
Producers National Bank (formerly the Producers Bank of Woonsocket) organized and granted federal charter #1421 |
| • |
August 7, 1865 |
Roger Williams National Bank (formerly the Roger Williams Bank of Providence) organized and granted federal charter #1506 |
| • |
August 9, 1865 |
Pascoag National Bank (formerly the Granite Bank of Pascoag) organized and granted federal charter #1512 |
| • |
August 21, 1865 |
National Bank of Rhode Island (formerly the Bank of Rhode Island in Newport) organized and granted federal charter #1532 |
| • |
August 24, 1865 |
Merchants National Bank (formerly Merchants Bank of Providence) organized and granted federal charter #1131 |
| • |
1865 |
Aquidneck National Bank (formerly the Aquidneck Bank of Newport) organized and granted federal charter #1546 |
| • |
September 7, 1865 |
Scituate National Bank (formerly the Citizens Union Bank of Scituate, N. Scituate) organized and granted federal charter #1552 |
| • |
1865 |
National Exchange Bank (formerly the Peoples Exchange Bank of Wakefield) organized and granted federal charter #1554 |
| • |
September 18, 1865 |
National Eagle Bank (formerly the Eagle Bank of Bristol) organized and granted federal charter #1562 |
| • |
1865 |
National Exchange Bank (formerly the Newport Exchange Bank) organized and granted federal charter #1565 |
| • |
October 17, 1865 |
Wickford National Bank organized and granted federal charter #1592. It is a combination of the Narragansett Bank and the North Kingston Bank |
| • |
December 9, 1865 |
Pacific National Bank of Pawtucket (formerly the New England Pacific Bank) organized and granted federal charter #1616 |
| • |
1865 |
Exeter Bank does not join the national banking system and closes |
| • |
May, 1866 |
Union Savings Bank in Providence incorporated |
| • |
June, 1866 |
Rhode Island Institution for Savings incorporated. It is an affiliate of the Rhode Island National Bank of Providence |
| • |
1866 |
What Cheer Bank of Providence closes |
| • |
October 24, 1867 |
Hospital Trust Company founded. It is the first trust company in New England |
| • |
1867 |
Bank of Kent in Coventry, a state bank which did not join the national system, closes |
| • |
1867 |
Atlas Bank of Providence closes |
| • |
1867 |
Elmwood Bank of Cranston closes |
| • |
1867 |
North Providence Bank closes |
| • |
May, 1868 |
Producers Savings Bank of Woonsocket incorporated |
| • |
1868 |
Franklin Bank of Chepachet closes |
| • |
1869 |
Commercial Bank of Bristol fails |
| • |
January, 1870 |
Cranston Savings Bank incorporated |
| • |
June 22, 1870 |
Mechanics Savings Bank of Westerly incorporated |
| • |
June, 1870 |
Niantic Savings Bank of Westerly incorporated |
| • |
July 18, 1870 |
Hopkinton Savings Bank of Hope Valley incorporated |
| • |
March 10, 1871 |
Citizens Savings Bank founded as an affiliate of the High Street Bank of Providence |
| • |
May, 1871 |
National Institution for Savings in Providence incorporated. It is affiliated with the Jackson Bank of Providence |
| • |
January, 1871 |
Atlantic Savings Bank incorporated in Providence, but does not engage in business |
| • |
June 26, 1871 |
Ashaway Savings Bank incorporated |
| • |
June, 1871 |
Merchants Savings Bank of Providence incorporated. It is affiliated with the Liberty Bank of Providence |
| • |
March 25, 1872 |
Smithfield Savings Bank incorporated |
| • |
May, 1872 |
Coventry Savings Bank incorporated |
| • |
January, 1873 |
National Institution for Savings in Providence changes name to International Institution for Savings |
| • |
January, 1873 |
Mechanics Savings Bank of Woonscoket incorporated |
| • |
May, 1873 |
International Institution for Savings changes for a third time, to Jackson Institution for Savings of Providence |
| • |
June 6, 1873 |
The Island Savings Bank, an affiliate of the National Exchange Bank of Newport, is incorporated |
| • |
1873 |
Cranston Savings Bank liquidated |
| • |
1875 |
Franklin Institution of Savings of Providence liquidated |
| • |
May, 1876 |
Bristol County Savings Bank incorporated |
| • |
May, 1877 |
Burrillville Savings Bank incorporated, though it does not appear to have engaged in business |
| • |
October 27, 1877 |
National Exchange Bank of Wakefield (Charter #1554) is liquidated. Its failure is due to the financial problems of the A&W Sprague Company |
| • |
September, 1878 |
Grocers & Producers Bank of Providence fails due to misapplication of funds |
| • |
1878 |
Warwick Institution for Savings fails |
| • |
May, 1879 |
Union Savings Bank in Pascoag incorporated, but probably never engaged in business |
| • |
August 12, 1881 |
Union National Bank (formerly the Rhode Island Union Bank of Newport) organized and granted federal charter #2554 |
| • |
June 6, 1882 |
The Pawtuxet Bank of Providence announces its closure, “because the business is not profitable” |
| • |
1882 |
Atlantic National Bank (formerly the Atlantic Bank of Providence) organized and granted federal charter #2913 |
| • |
1882 |
Citizens Savings Institution of Woonsocket ceases operations |
| • |
April 3, 1883 |
Northern Bank of Providence closes due the problems of A&W Sprague |
| • |
1883 |
Liberty Bank, which never became a national bank, is liquidated |
| • |
1883 |
Pascoag Savings Bank liquidated |
| • |
1883 |
Rhode Island Institution for Savings liquidated |
| • |
1883 |
Union Savings Bank in Providence liquidated |
| • |
April 17, 1885 |
Coventry National Bank of Anthony (Charter #1161) liquidated |
| • |
June 5, 1885 |
Cumberland National Bank of Cumberland (Charter #1404) liquidated |
| • |
1886 |
Samuel P. Colt founds the Industrial Trust Company in Providence |
| • |
1886 |
Coventry Savings Bank liquidated |
| • |
1887 |
Butchers & Drovers Bank of Providence, a state bank that never joined the national system, closes |
| • |
January 11, 1888 |
Scituate National Bank of North Scituate (Charter #1552) liquidated |
| • |
May, 1888 |
Narragansett Pier Savings Bank incorporated, but likely never engaged in business |
| • |
May, 1888 |
Centreville Savings Bank, an affiliate of the Centreville National Bank, is incorporated |
| • |
May, 1888 |
Slatersville Savings Bank incorporated, but likely never engaged in business |
| • |
June 28, 1888 |
The Providence Clearing House Association begins business |
| • |
1888 |
Jackson Institution for Savings of Providence liquidated |
| • |
May 9, 1890 |
Bank of America (Providence) reorganized as the Bank of America Loan & Trust Company |
| • |
May 29, 1890 |
Wakefield National Bank (Charter #1206) reorganized as the Wakefield Trust Company |
| • |
1890 |
The Union Bank is forced into liquidation due to the failure of the A&W Sprague Company |
| • |
October 26, 1893 |
Merchants Savings Bank of Providence liquidated |
| • |
1893 |
State Bank of Providence liquidated |
| • |
January, 1894 |
Bank of America Loan & Trust Company changes name to Union Trust Company |
| • |
November 27, 1894 |
Lime Rock National Bank of Providence (Charter #1369) fails due to its speculation in Western mortgages |
| • |
1895 |
Jackson Bank closes |
| • |
1895 |
Hopkinton Savings Bank of Hope Valley liquidated |
| • |
January 1, 1895 |
Old Colony Co-Operative Bank of Providence incorporated |
| • |
July 1, 1896 |
Traders National Bank of Providence (Charter #1396) liquidated |
| • |
1897 |
Phenix Savings Bank of Phenix liquidated |
| • |
July 12, 1899 |
The City National Bank of Providence (Charter #1429) is absorbed by the Union Trust Company. (Its charter is surrendered on January 17, 1900) |
| • |
July 12, 1899 |
Globe National Bank of Providence (Charter #1126) liquidated |
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January 1, 1900 |
Manufacturers National Bank (Charter #1283) reorganized as Manufactuers Trust Company |
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January 15, 1900 |
Third National Bank of Providence (Charter #636) absorbed by the Industrial Trust Company |
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January 30, 1900 |
Roger Williams National Bank of Providence (Charter #1506) aborbed by the Industrial Trust Company |
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March 8, 1900 |
First National Bank of Pawtucket (Charter #843) and Pacific National Bank of Pawtucket (Charter #1616) absorbed by the Industrial Trust Company |
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March 31, 1900 |
Slater National Bank of Pawtucket (Charter #856) reorganized as the Slater Trust Company |
| • |
April 30, 1900 |
Greenwich National Bank of East Greenwich (Charter #1405) and the East Greenwich Institution for Savings absorbed by the Manufacturers Trust Company |
| • |
May 3, 1900 |
National Bank of Rhode Island in Newport (Charter #1532) absorbed by the Industrial Trust Company |
| • |
May 3, 1900 |
Gorham Savings Bank of Providence incorporated |
| • |
July 19, 1900 |
Woonsocket National Bank (Charter #1058) absorbed by the Industrial Trust Company |
| • |
August 30, 1900 |
Phenix National Bank of Phenix (Charter #1460) reorganized as the Phenix Trust Company |
| • |
December 17, 1900 |
First National Bank of Bristol (Charter #1292), National Eagle Bank of Bristol (Charter #1562), Bristol County Savings Bank and the Bristol Institution for Savings absorbed by the Industrial Trust Company |
| • |
June 6, 1901 |
Pascoag National Bank (Charter #1512) absorbed by the Industrial Trust Company |
| • |
July 30, 1901 |
United National Bank (Providence) organized and granted federal charter #5925. It is an ally of Industrial Trust and is located in the same building |
| • |
August 15, 1901 |
National Phenix Bank of Westerly (Charter #1169) absorbed by the Washington Trust Company |
| • |
August, 1901 |
Franklin Savings Bank of Pawtucket absorbed by the Slater Trust Company |
| • |
September 5, 1901 |
Second National Bank of Providence (Charter #564), Rhode Island National Bank of Providence (Charter #983), Fifth National Bank of Providence (Charter #1002) and National Eagle Bank of Providence (Charter #1030) surrender their charters and join together to form the Union National Bank of Providence (Charter #5925) |
| • |
November 15, 1901 |
Newport Trust Company is incorporated, with Providence’s Industrial Trust taking a large share of its stock |
| • |
1901 |
Mechanics Savings Bank of Westerly liquidated |
| • |
February 6, 1902 |
First National Bank of Woonsocket (Charter #1402) absorbed by the Industrial Trust Company |
| • |
February 20, 1902 |
Wickford National Bank (Charter #1592) absorbed by the Industrial Trust Company |
| • |
June-July, 1902 |
Merchants Bank of Newport fails due to poor financial bets and irregular bookkeeping |
| • |
June 6, 1903 |
Commercial National Bank of Providence (Charter #1319), which had been suffering after years of heavy losses, absorbed by the Union Trust Company |
| • |
June 13, 1903 |
City Savings Bank of Providence liquidated |
| • |
January 23, 1904 |
Washington National Bank of Westerly (Charter #952) reorganized as the Washington Trust Company |
| • |
May, 1904 |
Mechanics Savings Bank of Providence absorbed by the Industrial Trust Company |
| • |
June 14, 1904 |
National Bank of North America of Providence (Charter #1036) liquidated |
| • |
June 24, 1904 |
First National Bank of Providence (Charter #134) absorbed by Hospital Trust |
| • |
July 26, 1904 |
Weybosset National Bank of Providence (Charter #1173) absorbed by the Union Trust Company |
| • |
August 24, 1904 |
First National Bank of Warren (Charter #673), National Hope Bank of Warren (Charter #1008), National Warren Bank of Warren (Charter #1419), the Warren Trust Company and the Warren Institution for Savings absorbed by the Industrial Trust Company |
| • |
1904 |
Westerly Savings Bank liquidated and accounts transferred to Washington Trust |
| • |
January 11, 1905 |
National Niantic Bank of Westerly (Charter #823) and the Niantic Savings Bank absorbed by the Industrial Trust Company |
| • |
March, 1905 |
The remaining shares of Newport Trust are purchased by Industrial Trust, though it remains an independent entity within the company |
| • |
April 10, 1905 |
National Landholders Bank of Kingston (Charter #1158) reorganized as the Kingston Trust Company |
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August 19, 1905 |
Coddington Savings Bank of Newport absorbed by the Industrial Trust Company |
| • |
September 7, 1905 |
First National Bank of Newport (Charter #1021) absorbed by the Newport Trust Company, a division of Industrial Trust |
| • |
January 10, 1906 |
American National Bank of Providence (Charter #1472) absorbed by Hospital Trust |
| • |
June, 1907 |
Manufactuers Trust of Providence absorbed by the Union Trust Company |
| • |
July 20, 1906 |
Old National Bank of Providence (Charter #1151) absorbed by the Industrial Trust Company |
| • |
July 17, 1907 |
Fourth National Bank of Providence (Charter #772) absorbed by the United National Bank (Charter #5925) |
| • |
June 11, 1909 |
Kingston Savings Bank is placed in temporary receivership |
| • |
May, 1911 |
Peoples Savings Bank of Woonsocket absorbed by the Woonsocket Institution for Savings |
| • |
1911 |
Columbus Exchange Bank of Providence, aimed at a primarily Italian-American clientele, is organized |
| • |
July 11, 1912 |
Kingston Savings Bank is absorbed by Peoples Savings Bank of Providence |
| • |
July 29, 1912 |
Ashaway Savings Bank enters voluntary liquidation |
| • |
October 17, 1912 |
Union National Bank of Newport (Charter #2554) absorbed by the Aquidneck National Bank (Charter #1546) |
| • |
1912 |
The Woonsocket Trust Company is founded |
| • |
April 16, 1913 |
Atlantic National Bank of Providence (Charter #2913) fails due to embezzlement and bad loans |
| • |
February 12, 1914 |
Shareholders of the New England Commercial Bank, a state bank in Newport, vote to close the institution down. The Newport Trust Company acts as the liquidating agent |
| • |
May 25, 1914 |
First National Bank of Hopkinton (Charter #1054) opts not to join the new Federal Reserve system. It is voluntary liquidated and its assets are assumed by Washington Trust of Westerly |
| • |
May 14, 1915 |
National Union Bank of Woonsocket (Charter #1409) absorbed by the Woonsocket Trust Company |
| • |
February 14, 1916 |
United National Bank of Providence (Charter #5925) absorbed by the Industrial Trust Company |
| • |
May 20, 1922 |
Slater Trust of Pawtucket absorbed by the Industrial Trust Company |
| • |
May 26, 1922 |
Providence County Savings Bank of Pawtucket absorbed by Hospital Trust |
| • |
1923 |
Westminster Bank of Providence, which remained a state bank in the national era, closes |
| • |
February, 1925 |
Kingston Trust Company forced into receivership due to misapplication of funds by its secretary-treasurer |
| • |
January 16, 1926 |
Producers National Bank of Woonsocket (Charter #1421) absorbed by Hospital Trust |
| • |
February 26, 1926 |
Aquidneck National (Charter #1546) merges with National Exchange Bank of Newport (Charter #1565) to form the Aquidneck National Exchange and Savings Bank of Newport |
| • |
April 26, 1926 |
National Exchange Bank of Providence (Charter #1339) absorbed by the Industrial Trust Company |
| • |
June 4, 1926 |
Providence National Bank (Charter #1302) merges with the Merchants National Bank of Providence (Charter #1131) |
| • |
July 20, 1928 |
National Exchange Bank of Greenville (Charter #1498) reorganized as the Greenville Trust Company |
| • |
September 18, 1928 |
Citizens National Bank of Woonsocket (Charter #970) fails due to financial shortfalls |
| • |
1928 |
The Industrial Trust Tower, an Art Deco skyscraper designed by Walker & Gilette for downtown Providence, is completed |
| • |
January 12, 1929 |
National Globe Bank of Woonsocket (Charter #1423) and Mechanics Savings Bank of Woonsocket acquired by Hospital Trust |
| • |
1929 |
The Old Stone Safe Deposit and Trust Company is formed as an affiliate safe-deposit facility of the Providence Institution for Savings |
| • |
1930 |
The High Street Bank, the last remaining state bank in Rhode Island, reorganized as the High Street Bank and Trust Company |
| • |
March 5, 1933 |
All the banks of Rhode Island close due to a financial panic. Banks were able to suppy currency again by March 13 |
| • |
1933 |
Columbus Exchange Bank of Providence fails |
| • |
December 1933 |
Rhode Island Hospital National Bank (Providence) organized as a part of the Hosptial Trust Company and granted federal charter #13901 |
| • |
February 1, 1934 |
Columbus National Bank (Providence) organized and granted federal charter #13981 (it is an outgrowth of the former Columbus Exchange Bank) |
| • |
October 23, 1943 |
Mechanics National Bank of Providence (Charter #1007) absorbed by the Industrial Trust Company |
| • |
January 21, 1946 |
Ashaway National Bank (Charter #1150) absorbed by the Industrial Trust Company |
| • |
June 1, 1946 |
Phenix Trust of Warwick is absorbed by the Industrial Trust Company |
| • |
September 26, 1945 |
Providence National Bank (Charter #1302) and Blackstone Canal National Bank (Charter #1328) agree to a merger, effective October 10, 1945 |
| • |
1948 |
After Citizens Savings Bank gains a controlling interest in the High Street Bank and Trust Company, its name is changed to the Citizens Trust Company |
| • |
January 31, 1949 |
National Bank of Commerce and Trust Company absorbed by Hospital Trust |
| • |
July 17, 1950 |
Wakefield Trust (formerly the Wakefield Bank, founded 1835) absorbed by the Providence National Bank |
| • |
1950 |
Aquidneck National Bank of Newport (Charter #1546) absorbed by Hospital Trust |
| • |
February 8, 1951 |
Providence National Bank (Charter #1302) and the Union Trust Company merge to form the Providence Union National Bank and Trust Company |
|
1952 |
Providence Union National Bank and Trust Company shortens its name to Providence Union National Bank |
| • |
1953 |
Phenix National Bank of Providence (Charter #948) absorbed by Hospital Trust |
| • |
October 28, 1953 |
Providence Union National Bank merges with the Industrial Trust Company to form the Industrial National Bank |
| • |
1954 |
Newport Trust becomes the Newport branch of Industrial National Bank |
| • |
1954 |
Greenville Trust absorbed by Citizens Savings Bank of Providence |
| • |
1958 |
First National Bank of Smithfield at Slatersville (Charter #1035) absorbed by the Industrial National Bank |
| • |
September 29, 1961 |
Industrial National Bank of Providence changes name to Industrial National Bank of Rhode Island |
| • |
1963 |
Wickford Savings Bank (founded 1855) absorbed by Hospital Trust |
| • |
1965 |
The Old Stone Safe Deposit and Trust Company changes its name to the Old Stone Trust Company |
| • |
1967 |
The Providence Institution for Savings becomes the Old Stone Savings Bank |
| • |
1968 |
Industrial National Bank reorganized into a one-bank holding company named Industrial Bancorp |
| • |
1970 |
Industrial Bancorp changes its name to Industrial National Corporation |
| • |
1971 |
Newport National Bank (Charter #1492) acquired by Old Colony Co-Operative Bank of Providence |
| • |
June 15, 1974 |
Old Stone Savings Bank and the Old Stone Trust Company are put under the umbrella of the Old Stone Corporation. Name changed to Old Stone Bank |
| • |
July 31, 1980 |
Old Colony Co-operative Bank acquires Mayflower Savings And Loan Association in Providence |
| • |
1982 |
Industrial National Corporation changes its name to Fleet Financial Group |
| • |
October 20, 1984 |
Old Stone bank merged into and subsequently operated as part of Rhode Island Federal Savings and Loan Association in Providence |
| • |
November 1, 1984 |
Columbus National Bank of Providence (Charter #13981) absorbed by Hospital Trust |
| • |
March 31, 1985 |
Old Colony Co-operative Bank changes its name to Old Colony Bank |
| • |
October 16, 1985 |
Woonsocket Institution for Savings (founded 1845) changes its name to Eastland Bank (holding company) and Eastland Savings Bank |
| • |
1985 |
Hospital Trust (founded 1867) absorbed by Bank of Boston |
| • |
1986-1995 |
The Savings and Loan Crisis wreaks havoc on the U.S. economy, about 747 savings and loan institutions fail, costing taxpayers over $340 billion |
| • |
March 25, 1986 |
Old Colony Bank of Providence (founded 1895) absorbed by Bank of New England in Boston |
| • |
1987 |
Peoples Savings Bank of Providence (founded 1851) renamed Peoples Bank (now of Johnston), is acquired by Shawmut, which puts it under the control of Hartford National |
| • |
April 22, 1987 |
Savings Bank of Newport (founded 1819) changes name to Bank of Newport |
| • |
June 17, 1987 |
Pawtucket Institution for Savings (founded 1836) merges with an Attleboro, Massachusetts bank to form the Attleboro Pawtucket Savings Bank |
| • |
March 19, 1987 |
Fleet Financial Group announces merger with Albany, New York-based Norstar Bancorp to form Fleet/Norstar Financial Group |
| • |
1988 |
Citizens Financial Group becomes a wholly owned subsidary of the Royal Bank of Scotland |
| • |
April 24, 1989 |
Pier Bank of Narragansett incorporated |
| • |
1990 |
Bank of New England, Boston, sells off its former Old Colony Bank assets to Citizens Bank |
| • |
January 1, 1991 |
Newly-inaugurated governor Bruce Sundlun announces the closure of 45 credit unions, banks, and loan and investment companies insured by the Rhode Island Share and Deposit Indemnity Corporation |
| • |
December 17, 1991 |
Pier Bank of Narragansett changes its name to PierBank |
| • |
1991 |
Fleet/Norstar acquires failed Bank of New England from the FDIC |
| • |
August 22, 1992 |
Attleboro Pawtucket Savings Bank fails, assets acquired by Fleet/Norstar |
| • |
December, 1992 |
Fleet Financial Group acquires failed Eastland Bank and Eastland Savings Bank from the FDIC |
| • |
1992 |
Fleet/Norstar changes its name back to Fleet Financial Group |
| • |
January 29, 1993 |
Old Stone Bank closed by the Office of Thrift Supervision of the United States Department of the Treasury |
| • |
July 8, 1994 |
Citizens Financial Group wins bid for failed Old Stone Bank, outbidding Hospital Trust/Bank of Boston and Shawmut |
| • |
January 5, 1995 |
Shawmut National Corporation of Boston acquires failed Old Stone Trust Company |
| • |
February 22, 1995 |
Fleet Financial Group announces its acquisition of Shawmut National Corporation (originally the Warren Bank of Boston, founded in 1836, and later the Shawmut Bank) |
| • |
October, 1995 |
BankRhodeIsland (BankRI) is incorporated. Its initial assets are the Rhode Island-based Shawmut branches being divested as part of the Fleet/Shawmut merger (possibly former Peoples Bank branches?) |
| • |
March, 1999 |
Fleet Financial Groups announces its acquistion of BankBoston (which traces its origins back to the Massachusetts Bank, 1784) to form FleetBoston Financial Group. BankBoston had previously absorbed Hospital Trust |
| • |
August 25, 1999 |
PierBank of Narragansett (1989) absorbed by Washington Trust of Westerly (1800) |
| • |
March 1, 2000 |
Sovereign Bank of Pennsylvania buys 50 Rhode Island branches being divested as part of the Fleet Financial/BankBoston deal |
| • |
November 29, 2001 |
Freedom National Bank incorporated in Greenville, Rhode Island |
| • |
2003 |
Independence Bank of East Greenwich is incorporated |
| • |
June 13, 2005 |
Fleet Financial Group absorbed by Bank of America (Charlotte, North Carolina) |
| • |
April, 2005 |
Bank of Newport changes name to BankNewport |
| • |
Today |
Of Rhode Island’s original 19th century banks, only Washington Trust (founded in 1800 as the Washington Bank in Westerly), BankNewport (founded as the Savings Bank of Newport in 1819), Citizens Bank (an outgrowth of the High Street Bank, founded 1828) and Centreville Bank (founded in 1829 in Warwick) remain active today. |
