Form 8K
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
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FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report(Date of earliest event reported):October 7, 2002(October 7, 2002)
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BANCORP RHODE ISLAND, INC.
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(Exact name of registrant as specified in its charter)
Rhode Island
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(State or other jurisdiction of incorporation)
333-33182 05-0509802
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(Commission File Number) (IRS Employer Identification Number)
One Turks Head Place, Providence, Rhode Island 02903
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(Address of principal executive offices)
(401) 456-5000
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(Registrant's telephone number, including area code)
N/A
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(Former name or former address, if changed since last report)
Item 7: Financial Statements and Exhibits.
(a) Financial Statements of Businesses Acquired.
Not applicable.
(b) Pro Forma Financial Information.
Not applicable.
(c) Exhibits.
99.1 Press Release dated October 7, 2002 regarding SFAS No. 147
Item 9: Regulation FD Disclosure.
On October 7, 2002, the Registrant issued a press release announcing that
as a result of Statement of Financial Accounting Standards No. 147 issued by the
Financial Accounting Standards Board (FASB) on October 1, 2002, the Registrant
will be able to eliminate $1.2 million of annual goodwill amortization beginning
January 1, 2002. The Registrant will be required to restate its income for the
first two quarters of 2002 to reflect the elimination of goodwill amortization
and will adopt the new FASB standard beginning in the third quarter. A copy of
the press release is attached hereto as Exhibit 99.1.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, as
amended, the Registrant has duly caused this report to be signed on its behalf
by the undersigned hereunto duly authorized.
BANCORP RHODE ISLAND, INC.
By: /s/Albert R. Rietheimer
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Albert R. Rietheimer
Chief Financial Officer
Date: October 7, 2002