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Bank’s expansion into East Bay represents 20th branch location

PROVIDENCE, R.I. – By early 2016, residents and businesses across the East Bay will have a new option for their banking and financial needs when Bank Rhode Island (BankRI) opens its latest branch in Middletown. The office, which represents BankRI’s 20th branch, will be located at 132 East Main Road.

“We are excited to have a presence in East Bay and offer those across its communities the relationship banking model that BankRI is known for,” said Mark J. Meiklejohn, President and CEO of BankRI. “We’re also looking forward to introducing technology that delivers new levels of convenience to our valued customers while positioning ourselves to attract new clientele—we see a lot of potential for growth.”

Once completed, BankRI’s Middletown branch will be a 1,800 square foot facility that includes private commercial lending offices, space dedicated to housing BankRI retail and business financial spets, and conference rooms. Customers will have access to BankRI’s full line of personal and business banking products and services, along with a 24-hour walk up ATM and night depository.

The new Middletown branch will also feature the introduction of cash recycler machines at each teller window.  The addition of cash recycler machines will increase the efficiency of teller transactions and reduce the time for business deposits with a high number of items by up to 50 percent.

About Bank Rhode Island

Bank Rhode Island, a wholly owned subsidiary of Brookline Bancorp, Inc. (NASDAQ:BRKL), is a full-service, FDIC-insured financial institution headquartered in Providence, Rhode Island.  The bank operates 19 branches and more than 55 ATMs throughout Providence, Kent and Washington Counties. For more information, visit www.BANKRHODEISLAND.com.

Rhode Island Infrastructure Bank Refinancing Saves Taxpayers $6 Million

PROVIDENCE, RI – The Rhode Island Infrastructure Bank has refinanced $47 million in Water Pollution Control bonds, realizing $6 million net present value in savings. A portion of the savings will be returned to borrowers, including 13 communities and the Narragansett Bay Commission. The remaining savings will be used to support the Bank’s projects, including reinvestment in infrastructure projects across the state.

The Infrastructure Bank refinanced the bonds in order to take advantage of lower interest rates. The bonds, which have 11 and 12 year maturities, were rated AAA by both Standard & Poor’s and Fitch.

“This successful refinancing reflects the confidence of the market in our agency’s financial strength,” said Merrill W. Sherman, Board Chair of the Rhode Island Infrastructure Bank.

“In addition to lowering costs to local communities, this refinancing better positions the Infrastructure Bank to support Governor Gina Raimondo’s economic development and jobs initiatives,” she continued.  She also thanked General Treasurer Seth Magaziner, a member of the Agency’s Board of Directors, for his support.

In July 2015, legislation signed by Gov. Gina Raimondo established the RIIB and expanded its programs, which now include commercial and residential Property Assessed Clean Energy programs (PACE). Other new programs include the development of the Efficient Buildings Fund, intended to provide low cost financing for energy efficiency and renewable energy projects in public buildings around Rhode Island, and the creation of a Brownfields remediation revolving fund. The Infrastructure Bank will continue to work with state and federal governmental partners in the development and administration of its programs.

JP Morgan served as Senior Managing Underwriter.  T.D. Securities was Co-Senior Manager and Roosevelt & Cross, Oppenheimer and Ramirez and Co. were Co-Managing Underwriters.

Rhode Island Infrastructure Bank (“RIIB”), formerly known as the Rhode Island Clean Water Finance Agency, is a quasi-public agency which serves as the financial administrator of the Clean Water and Drinking Water State Revolving Funds. The Bank issues bonds, the proceeds of which are used to provide low cost financing to Rhode Island’s municipalities and sewer and water utilities for infrastructure projects to enhance the waters of the State. Recently enacted legislation changed the name of the agency and expanded its powers to administer newly created programs for energy efficiency and renewable energy projects in public, commercial, and residential properties. For more information visithttp://www.riinfrastructurebank.com/

Coastway Community Bank Welcomes Community Development Manager

WARWICK, RI  – Coastway Community Bank recently welcomed Claudia Cardozo to their team in the role of Community Development Manager. A native of Colombia who made Rhode Island her home in 2002, Cardozo is an economic development professional with 8 years of experience assisting small businesses in Rhode Island. Her work experience also includes insurance and microfinance.

Claudia was named the 2010 Minority Small Business Champion of the Year by the Small Business Administration, and in 2013, RI Latino Public Radio recognized her with an Outstanding Achievement Award for her contributions to the Latino business community. She also received the Ronald McDonald House Community Service Award in 2014.

As Community Development Manager, Cardozo works with individuals and businesses in emerging markets across Rhode Island to assess their needs and goals, and to identify ways to help achieve them using Coastway’s products and services, and also connecting them with other resources across the state. With a comprehensive approach to banking, Claudia is a financial advocate who provides personalized advice and support, tailored to customers’ specific needs – helping them grow towards their financial goals.

Coastway Community Bank has been helping Rhode Islanders with their banking and financial needs for over 90 years. With more than $488 million in assets and 27,000 customers, Coastway Community Bank is dedicated to outstanding customer service and the belief that money that stays here, grows here. Coastway is located in Cranston, East Greenwich, East Providence, Lincoln, Providence, Warwick and at www.coastway.com. Member FDIC

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