In Brief: De Novo in Ex-Shawmut Offices 2d-Biggest Ever

Bank Rhode Island, the second-largest de novo institution in history, has opened for business in 12 branch offices divested by Shawmut National Corp.

The $485 million-asset bank, which was created to buy the divested branches, was launched this spring with about $45 million of capital, half of it raised from Rhode Island individuals and private institutions.

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