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Boston Fed Names Merrill Sherman to New Advisory Board

PROVIDENCE, RI – March 9, 2011 – Bank Rhode Island (BankRI) announced today that its President and CEO Merrill Sherman will be one of twelve members to serve on the Federal Reserve Bank of Boston’s new Community Depository Institutions Advisory Council (CDIAC) formed in response to new regulations.


Each Federal Reserve Bank across the country is establishing a First District CDIAC in response to the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010.  The council will consist of twelve representatives of banks, thrifts and credit unions from across New England.  Members of the council, who are from each of the six New England states, will offer their perspectives on the economy, lending conditions, and other important topics.


“It is an honor to be asked to serve on the CDIAC Council,” said Merrill Sherman, President and CEO of BankRI.  “I am looking forward to sharing best practices and perspectives on the economy with my peers from across New England.”


The newly formed council will meet three times a year, the first meeting was held on March 1.


In addition to Merrill Sherman from BankRI, the following members were appointed:

  • James W. Blake, president/CEO, HarborOne Credit Union, Brockton
  • Tom Caron, president/CEO, Bank of Easton, North Easton
  • Jane Walsh, president/CEO, Northmark Bank, North Andover
  • Bill Stapleton, president/CEO, Northampton Co-Operative Bank, Northampton
  • Christopher Oddleifson, president/CEO, Rockland Trust Co., Rockland
  • John J. Dwyer, Jr., president/CEO, New England Federal Credit Union (NEFCU); Williston, Vt.
  • Michael L'Ecuyer, president/CEO, Bellwether Community Credit Union; Manchester, N.H.
  • Gregg R. Tewksbury, president/CEO, Savings Bank of Walpole; Walpole, N.H.
  • Peter Judkins, president/CEO, Franklin Savings Bank; Farmington, Maine
  • Joseph J MarcAurele, president/CEO, Washington Trust; Westerly, R.I.
  • Gregory Shook, president/CEO, Essex Savings Bank; Essex, Conn.


About Bank Rhode Island

Bank Rhode Island, a wholly owned subsidiary of Bancorp Rhode Island, Inc. (NASDAQ:BARI), is a full-service, FDIC-insured financial institution headquartered in Providence.  The bank operates 17 branches and more than 60 ATMs throughout Providence, Kent and Washington Counties.  As of December 31, 2010, BankRI has $1.6 billion in assets and $1.1 billion in deposits.  For more information, visit  


Recent Awards

BankRI was recently named the top SBA lender in Rhode Island for the second consecutive year by the U.S. Small Business Association.  BankRI, founded in 1996, is one of the leading commercial banks in Rhode Island for businesses of all sizes.


Merrill Sherman, president and CEO of BankRI was also recently named one of the “Top 25 Most Powerful Women in Banking” by U.S. Banker and American Banker.


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