Safest Banks in Rhode Island 2026
Rhode Island has 5 FDIC-insured banks with an average Bank Health Score of 68/100 (B). The safest bank is Centreville Bank with a score of 73/100.
Data from FDIC Q2 2024
5 Rhode Island banks are ranked below by the BankHealth composite score. The composite weights Tier 1 capital ratio (35%), inverted non-performing loan ratio (30%), liquidity ratio (25%), and return on assets (10%) into a 0-100 grade.
Top-of-list banks combine strong capital with clean loan books and reasonable profitability. Bottom-of-list banks face pressure on one or more scoring factors — most often elevated NPL ratios or thin profitability margins. Each bank links to its full profile with multi-quarter trend charts, the four composite factor breakdowns, and the underlying FDIC Call Report data.
Rhode Island's 5 FDIC-insured banks hold a combined $16.5B in assets. Their average Bank Health Score of 68/100 sits 12.0 points below the national average of 80/100. Across the state, 80% of banks earn an A or B grade for financial health, while 0% fall to a D or F.
The largest bank headquartered in Rhode Island is Washington Tr Co of Westerly with $7.2B in assets and a Bank Health Score of 66/100. The strongest by score is Centreville Bank in West Warwick (73/100, Tier 1 capital 13.10%). The weakest is Bank Rhode Island at 61/100, dragged down by an NPL ratio of 0.65%.
All scores below come from the latest FDIC BankFind Call Report (Q2 2024). The Bank Health Score weights Tier 1 capital ratio (35%), nonperforming loan ratio (30%), liquidity ratio (25%), and return on assets (10%) — the four metrics regulators watch most closely when judging whether a bank is well-capitalized. Every bank with FDIC insurance covers up to $250,000 per depositor per ownership category, but the score helps you tell apart banks that are comfortably well-capitalized from those operating closer to the line.
Top 3 Safest Banks in Rhode Island
Centreville Bank
West Warwick, RI
Rhode Island's top-rated bank, with a Tier 1 capital ratio of 13.10% — well above the federal "well-capitalized" threshold of 8%. Holds $2.7B in assets.
Banknewport
Middletown, RI
Second-strongest in the state on capital and loan quality. NPL ratio sits at 0.18% with $2.8B in total assets.
Shoreham Bank
Warwick, RI
Third in the rankings on the Bank Health Score. Liquidity ratio of 11.42% and ROA of 0.91%.
Top 5 Banks in Rhode Island
| # | Bank | City | Grade | Score | Tier 1 Capital | NPL Ratio |
|---|---|---|---|---|---|---|
| 1 | Centreville Bank | West Warwick | B | 73 | 13.10% | 0.76% |
| 2 | Banknewport | Middletown | B | 73 | 12.93% | 0.18% |
| 3 | Shoreham Bank | Warwick | B | 68 | 13.83% | 1.02% |
| 4 | Washington Tr Co of Westerly | Westerly | B | 66 | 10.90% | 0.54% |
| 5 | Bank Rhode Island | Providence | C | 61 | 10.43% | 0.65% |
Bank Health Scores for Rhode Island are calculated from FDIC Call Report data including Tier 1 capital ratios, nonperforming loan ratios, liquidity ratios, and return on assets.
Frequently Asked Questions
Based on our Bank Health Score analysis of FDIC data, Centreville Bank in West Warwick is currently the safest bank in Rhode Island with a score of 73/100 (Grade B). It posts a Tier 1 capital ratio of 13.10% and a nonperforming loan ratio of 0.76%.
Rhode Island has 5 FDIC-insured banks with a combined $16.5B in total assets. The average Bank Health Score across the state is 68/100 (Grade B).
Rhode Island's average Bank Health Score of 68/100 is 12.0 points below the national average of 80/100. 80% of banks in Rhode Island earn an A or B grade, compared with the national average grade of A.
Of 5 FDIC-insured banks headquartered in Rhode Island, 0 earn an A, 4 a B, 1 a C, 0 a D, and 0 an F. The most common grade is B.
The Bank Health Score (0-100) is based on four FDIC-reported metrics: Tier 1 capital ratio (35% weight), nonperforming loan ratio (30%), liquidity ratio (25%), and return on assets (10%). Higher scores indicate stronger financial health. Every score uses the latest FDIC Call Report data.
Bank Health Scores are computed from quarterly FDIC Call Report data. Tier 1 capital ratio (35%), nonperforming loan ratio (30%), liquidity ratio (25%), and return on assets (10%).