Safest Banks in Rhode Island 2026
Rhode Island has 5 FDIC-insured banks with an average Bank Health Score of 62/100 (C). The safest bank is Banknewport with a score of 73/100.
Data from FDIC Q2 2024
Top 5 Banks in Rhode Island
| # | Bank | City | Grade | Score | Tier 1 Capital | NPL Ratio |
|---|---|---|---|---|---|---|
| 1 | Banknewport | Middletown | B | 73 | 12.93% | 0.18% |
| 2 | Shoreham Bank | Warwick | B | 68 | 13.83% | 1.02% |
| 3 | Washington Tr Co of Westerly | Westerly | B | 66 | 10.90% | 0.54% |
| 4 | Bank Rhode Island | Providence | C | 61 | 10.43% | 0.65% |
| 5 | Centreville Bank | West Warwick | D | 43 | 0.00% | 0.76% |
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, Banknewport in Middletown is currently the safest bank in Rhode Island with a score of 73/100 (Grade B).
Rhode Island has 5 FDIC-insured banks with a combined $16.5B in total assets. The average Bank Health Score across the state is 62/100.
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.
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%).