BankRankedBanks in Rhode Island
4 FDIC-insured banks headquartered in Rhode Island, ranked by total assets.
Rhode Island is home to 4 FDIC-insured banks holding a combined $238.52B in total assets and approximately $196.19B in deposits (Source: FDIC BankFind). These figures represent banks headquartered in Rhode Island and may not include all branches of out-of-state banks operating in the state.
Citizens Bank is the largest bank headquartered in Rhode Island with $225.86B in total assets, representing a concentrated market where one institution holds the majority of state-headquartered bank assets (Source: FDIC BankFind). The mix of national banks, regional institutions, and community banks in Rhode Island provides consumers with a range of options based on their banking preferences.
Total Banks
4
Combined Assets
$238.52B
Avg ROA
0.82%
Largest banks in Rhode Island
Citizens Bank is the largest bank headquartered in Rhode Island with $225.86B in total assets and 989 branches (Source: FDIC BankFind).
The Washington Trust Company, of Westerly is a major bank headquartered in Rhode Island with $6.62B in total assets and 30 branches (Source: FDIC BankFind).
Centreville Bank is a major bank headquartered in Rhode Island with $3.03B in total assets and 21 branches (Source: FDIC BankFind).
BankNewport is a major bank headquartered in Rhode Island with $3.01B in total assets and 20 branches (Source: FDIC BankFind).
Banks headquartered in Rhode Island
| # | Bank | Total Assets |
|---|---|---|
| 1 | Citizens Bank, National Association | $225.86B |
| 2 | The Washington Trust Company, of Westerly | $6.62B |
| 3 | Centreville Bank | $3.03B |
| 4 | BankNewport | $3.01B |
Source: FDIC BankFind, most recent quarterly data. Only includes banks headquartered in Rhode Island. Data last updated: April 2, 2026.
Credit unions in Rhode Island
2 credit unions headquartered in Rhode Island, ranked by total assets. Credit unions are member-owned cooperatives insured by the NCUA.
Source: NCUA Quarterly Call Report Data. Only includes credit unions headquartered in Rhode Island.
How to choose a bank in Rhode Island
When choosing a bank in Rhode Island, consider what matters most for your financial needs. Rhode Island has 4 FDIC-insured banks headquartered in the state, plus additional out-of-state banks with local branches. Each institution offers different strengths in terms of branch access, product variety, and community focus.
Consider whether branch access matters to you. If you prefer in-person banking, look for institutions with branches near your home or workplace. If you primarily use mobile and online banking, you may want to prioritize digital features and compare interest rates, as online-focused banks often offer higher savings APYs.
All banks listed on this page are FDIC-insured, meaning deposits are protected up to $250,000 per depositor, per insured bank, for each account ownership category (Source: FDIC). Beyond FDIC insurance, compare factors such as monthly maintenance fees, ATM networks, minimum balance requirements, and customer service availability. The CFPB recommends comparing at least three institutions before opening a new account.
Data Sources
FDIC BankFind: Financial data including total assets, deposits, net income, ROA, and ROE for all FDIC-insured institutions. https://banks.data.fdic.gov/
CFPB Consumer Complaint Database: Consumer complaint data by institution, including complaint volumes, response rates, and top issue categories. https://www.consumerfinance.gov/data-research/consumer-complaints/
Federal Reserve Economic Data (FRED): Interest rate benchmarks including the Federal Funds Rate, Treasury yields, and national savings rate averages. https://fred.stlouisfed.org/
BankRanked is not a bank, credit union, or financial advisor. This content is for educational purposes only and does not constitute financial advice. All data is sourced from publicly available government databases (FDIC, NCUA, CFPB, FRED). Consult a licensed financial professional before making banking decisions.