Question 1

What is Centreville Bank?

Accepted Answer

Centreville Bank is a state-chartered community bank headquartered in West Warwick, Rhode Island. With approximately $2.9 billion in assets and 20 branch locations, the bank serves Rhode Island and Eastern Connecticut. Centreville Bank specializes in community banking, offering personal and business banking services with a strong focus on small business lending and community development.

The bank operates as a mutual holding company, meaning it is owned by its depositors rather than outside shareholders. This structure allows Centreville to prioritize long-term customer relationships and community investment over short-term profits.

Question 2

When was Centreville Bank founded?

Accepted Answer

Centreville Bank was founded in 1828, originally known as the Bank of Centreville. The bank was established by local business and civic leaders John Greene, a textile manufacturer, and Sylvester Knight, a surgeon, just 38 years after Rhode Island became a state.

In 1865, following the passage of the National Bank Act, the bank became Centreville National Bank with a national charter. A companion institution, Centreville Savings Bank, was incorporated in 1888 to expand the range of services beyond what a national bank could offer. The two entities operated alongside each other for over a century before officially merging in 1993 to become Centreville Bank.

Question 3

Where is Centreville Bank headquartered?

Accepted Answer

Centreville Bank is headquartered at 1218 Main Street in West Warwick, Rhode Island. The bank has occupied this location since 1928, when the architectural firm of Hutchins and French of Boston designed the headquarters building.

The structure features Indiana limestone facing, classic columns hewn from single stones, and bronze entrance doors. This historic building remains the centerpiece of the bank's operations nearly a century later.

Question 4

Where does Centreville Bank operate?

Accepted Answer

Centreville Bank operates 20 full-service branches across Rhode Island and Eastern Connecticut. In Rhode Island, the bank has locations in communities including Coventry, Cranston, East Greenwich, Middletown, Narragansack, Newport, North Kingstown, Pawtucket, Smithfield, Warren, Warwick, West Greenwich, and West Warwick. The bank also maintains a Loan Production Office in Providence.

Following the 2020 acquisition of Putnam Bank, Centreville expanded into Eastern Connecticut with eight branches in Danielson, Plainfield, Griswold, Putnam, Pomfret, Norwich, Ledyard (Gales Ferry), and surrounding communities. The bank continues to expand its footprint with plans for additional Rhode Island locations.

Question 5

What services does Centreville Bank offer?

Accepted Answer

Centreville Bank offers a comprehensive range of personal and business banking services. Personal banking products include checking and savings accounts, certificates of deposit, individual retirement accounts, mortgages, home equity loans, and consumer loans. The bank's High Yield Savings Account offers competitive rates for depositors.

Business banking services include commercial checking and savings accounts, business loans, lines of credit, and cash management solutions. Centreville Bank is particularly active in small business lending, having been named the top SBA 504 third-party lender in Rhode Island by the U.S. Small Business Administration from 2022 to 2024.

Digital banking services include mobile banking apps, online banking platforms, Interactive Teller Machines (ITMs) that allow customers to communicate with bankers via video chat, and the uChoose Rewards program for checking account holders. The bank also introduced a Universal Banker Business Model in 2017 to provide more personalized service.

Question 6

What makes Centreville Bank unique?

Accepted Answer

Centreville Bank stands out for its nearly 200-year history of continuous operation and its commitment to community investment. Since establishing The Centreville Bank Charitable Foundation in 2008, the bank has donated more than $10 million in grants, sponsorships, and college scholarships to local organizations. In 2025 alone, the bank contributed $2 million to non-profit organizations.

The bank's employee culture emphasizes community service, with employees contributing 6,358 volunteer hours in 2024, the highest in the bank's history. Centreville has been recognized as one of American Banker's Best Banks to Work For, Providence Business News' Best Places to Work, and one of New England's Fastest Growing Companies by the Boston Globe.

As a mutual holding company since August 2025, Centreville Bank operates with a unique ownership structure that prioritizes depositor interests. The bank also secured a long-term naming rights agreement for Centreville Bank Stadium, home of Rhode Island Football Club, demonstrating its deep community ties.

Question 7

What type of financial institution is Centreville Bank?

Accepted Answer

Centreville Bank is a state-chartered mutual savings bank. This designation means the bank holds a charter from the state of Rhode Island rather than a federal charter, and operates under a mutual holding company structure where depositors are the beneficial owners.

As a mutual savings bank, Centreville Bank operates on conservative banking principles while maintaining flexibility to adapt to customer needs. This structure allows the institution to focus on long-term stability, customer relationships, and community development rather than maximizing returns for external shareholders. The mutual structure has become increasingly rare in modern banking, making Centreville Bank distinctive among financial institutions of its size.

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