PL Capital Group to nominate two to Bancorp Rhode Island's board

By Lisa Kerner

Charlotte, N.C., Dec. 12 - Bancorp Rhode Island, Inc. investor PL Capital Group said it plans to nominate its managing members John W. Palmer and Richard J. Lashley to the company's board of directors.

PL Capital owns 8.1% of Bancorp RI, according to a schedule 13D filing with the Securities and Exchange Commission.

PL Capital Group's intention is "to influence the policies of Bancorp RI and assert PL Capital Group's shareholder rights, with a goal of maximizing the value of the common stock," the filing stated.

Bancorp Rhode Island is based in Providence, R.I., and is the holding company for Bank Rhode Island, which provides commercial banking services.

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