Bancorp Rhode Island claims victory in proxy battle with PL Capital

By Lisa Kerner

Charlotte, N.C., May 21 - Bancorp Rhode Island, Inc. said its shareholders voted to elect all of the board of directors' nominees based on an estimate of the votes cast at the company's annual meeting on Wednesday.

The company had been locked in a proxy battle with PL Capital Group.

Bancorp Rhode Island and PL Capital turned over all the proxy cards they received to the independent inspector of elections, Carl T. Hagberg and Associates, for final tabulation and certification, a Bancorp Rhode Island news release said.

It was previously reported that PL Capital, an 8.5% shareholder, nominated its principals Richard Lashley and John Palmer, as well as Daniel J. Mullane, for election to Bancorp Rhode Island's board.

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

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.