Rhode Island
Branch-office deposits reported to the FDIC Summary of Deposits survey by institutions operating in Rhode Island, June 30 of each survey year, 1994–2025. Dollar figures are the survey’s thousands-of-USD unit displayed as $B/$T.
Deposits, 1994–2025
Office-assigned deposits at branches in Rhode Island went from $14.27B in 1994 to $44.52B in 2025, nominal.
Source: FDIC Summary of Deposits FDIC Summary of Deposits, June 30 of each survey year, 1994-2025. State-level aggregate of branch rows. Methodology
Branches and institutions
The branch network in Rhode Island peaked at 265 offices in 1996; the 2025 survey counts 244. The institution count moved from 19 (1994) to 19 (2025).
Source: FDIC Summary of Deposits FDIC Summary of Deposits, June 30 of each survey year, 1994-2025. Methodology
Deposit concentration (HHI)
Statewide institution-share HHI: the sum of squared percent shares of each institution’s in-state deposits, 0–10,000. The shaded bands are the agencies’ 2010 Horizontal Merger Guidelines classification (section 5.3): unconcentrated below 1,500, moderately concentrated 1,500–2,500, highly concentrated above 2,500. The dashed line marks the 2023 Merger Guidelines threshold, under which markets with an HHI above 1,800 are highly concentrated (Guideline 1). Rhode Island’s HHI is 2083 in 2025 (moderately concentrated on the 2010 bands), against 1850 in 1994 and a span peak of 3095 in 1998. A statewide HHI is descriptive: merger review defines banking markets locally, not by state.
Source: FDIC Summary of Deposits | DOJ & FTC, Horizontal Merger Guidelines (2010), section 5.3 | DOJ & FTC, Merger Guidelines (2023), Guideline 1 HHI computed from FDIC Summary of Deposits branch rows, June 30 of each survey year, 1994-2025. Methodology
Largest institutions by in-state deposits, 2025
Branch rows grouped by FDIC certificate; names as reported to the survey. Share is of all SOD deposits booked in Rhode Island that year, the same shares the statewide HHI squares and sums.
| # | Institution | Deposits | Share | Branches |
|---|---|---|---|---|
| 1 | Citizens Bank, National Association cert 57957 | $16.84B | 37.84% | 52 |
| 2 | Bank of America, National Association cert 3510 | $8.89B | 19.98% | 25 |
| 3 | The Washington Trust Company, of Westerly cert 23623 | $4.95B | 11.11% | 28 |
| 4 | Santander Bank, N.A. cert 29950 | $2.65B | 5.96% | 20 |
| 5 | Bank Rhode Island cert 34147 | $2.59B | 5.83% | 22 |
| 6 | BankNewport cert 18129 | $2.32B | 5.21% | 19 |
| 7 | Centreville Bank cert 17764 | $1.67B | 3.76% | 12 |
| 8 | TD Bank, National Association cert 18409 | $1.43B | 3.20% | 9 |
| 9 | HarborOne Bank cert 59070 | $723.4M | 1.62% | 11 |
| 10 | Webster Bank, National Association cert 18221 | $525.7M | 1.18% | 7 |
Source: FDIC Summary of Deposits FDIC Summary of Deposits, June 30, 2025. Deposits are office-assigned; an institution's internal allocation practices shape where its balances appear. Methodology
County concentration extremes, 2025
Rhode Island has 5 county-level geographies in the survey, shown by county-level deposit HHI. A county served by a single institution sits at the 10,000 ceiling by construction; thin county markets are the norm outside metros.
All counties
| County | HHI | Inst. | Branches |
|---|---|---|---|
| Washington | 3717 | 10 | 31 |
| Newport | 3066 | 11 | 24 |
| Providence | 2981 | 16 | 129 |
| Bristol | 2183 | 10 | 16 |
| Kent | 1442 | 14 | 44 |
Source: FDIC Summary of Deposits FDIC Summary of Deposits, June 30, 2025. County HHIs use institution shares of summed branch deposits within the county. Methodology
Back to the national overview, or see the methodology for the survey definition, the HHI construction, and the office-assignment caveat.