Bancorp Rhode Island to provide PL Capital with shareholder list as requested

By Lisa Kerner

Charlotte, N.C., Feb. 14 - Bancorp Rhode Island, Inc. said it will supply its shareholder list, as well as the Cede & Co. breakdown of brokerage and financial institutions, to John W. Palmer and a group of shareholders collectively known as PL Capital Group.

However, PL Capital will not have access to daily stock transfer sheets or lists of non-objecting beneficial owners.

One of the company's largest outside shareholders, Palmer asked for a list after being denied the opportunity to ask questions about poor quarterly and yearly operating results during the company's earnings conference call last month, according to a schedule 13D filing with the Securities and Exchange Commission.

PL Capital Group owns 382,220 shares or 8.0% of Bancorp Rhode Island's common stock, acquired at a total cost of $13,719,310.

The Providence, R.I., bank holding company also declined to put a PL Capital representative on its board.

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