Rhode Island-based bank offering deposit accounts, loans, and wealth management services across RI and CT branches. Recently surpassed $3 billion in assets.
Data compiled from public sources · Rating from CreditDoc methodology
Centreville Bank is a Rhode Island-based financial institution with nearly 200 years of history. The bank was recently recognized on the Financial Times' Americas' Fastest Growing Companies 2026 list and achieved a major milestone by surpassing $3 billion in assets in 2025, driven primarily through organic growth and disciplined expansion. The bank operates branches in both Rhode Island and Connecticut, offering appointment-based banking services.
Centreville Bank offers a comprehensive range of consumer banking products including deposit accounts (checking and savings), certificates of deposit (CDs), high-yield savings accounts, personal and home loans, and credit products including the uChoose Rewards debit card. They provide digital banking services through mobile banking platforms, payments and transfers functionality, and online appointment booking at select locations. The bank also offers calculators, banking term definitions, and online security resources for customer education.
The bank distinguishes itself through community engagement, contributing $2 million to non-profit organizations in 2025 and logging 5,000 employee volunteer hours. 50% APY with a $100,000 minimum balance. The bank has partnered with local sports organizations, offering co-branded cards with the Rhode Island Football Club (RIFC).
As a traditional regional bank, Centreville Bank serves customers seeking established banking infrastructure with local branch presence. However, the website content does not reveal information about loan terms, minimum account balances for standard products, customer service response times, or specific loan approval criteria. The bank's focus on higher-balance savings accounts ($100,000+ for competitive rates) may limit appeal to average retail customers.
Centreville Bank processed 800 mortgage applications in 2023, approving 86.4% of applicants across 3 states.
800
Applications
86.4%
Approval Rate
$418K
Avg Loan
3
States Served
Based on 800 applications. Income in thousands (reported by applicant).
Source: CFPB Home Mortgage Disclosure Act (HMDA) Data, 2023. Applications include originated, approved, and denied loans.
Centreville Bank offers 12 services including High Yield Savings Accounts (up to 2.50% APY), Certificates of Deposit (15-Month CD Special at 3.50% APY), Personal loans and home loan origination, Checking and savings deposit accounts, Mobile banking and digital account management, and 7 more.
Centreville Bank is best suited for High-net-worth individuals seeking regional banking with community involvement and $100,000+ in liquid savings, Homebuyers in Rhode Island or Connecticut looking for local mortgage lenders with established track record, Business owners and professionals wanting personal banking relationships with a growing, stable financial institution, Customers prioritizing community-focused banking with demonstrated charitable engagement and local presence.
Key strengths: Recently recognized on Financial Times' Americas' Fastest Growing Companies 2026 list for strong organic growth; Surpassed $3 billion in assets milestone, indicating institutional stability and scale; $2 million in annual charitable contributions and 5,000 employee volunteer hours demonstrates community commitment. Areas to consider: $100,000 minimum daily balance requirement to earn the highest advertised savings rates excludes average retail customers; Limited geographic footprint restricted to Rhode Island and Connecticut only.
In the Banks category, comparable providers include Banknewport, Citizens Bank, National Association, Shoreham Bank. Each company has different strengths — compare services, pricing, and consumer complaint records to find the best fit.
CreditDoc Diagnosis
Centreville Bank is best for customers in Rhode Island and Connecticut seeking traditional regional banking with demonstrated financial stability, community commitment, and digital conveniences. The primary caveat is that competitive rates and returns are heavily weighted toward high-balance depositors ($100,000+), making the bank less attractive for average retail customers seeking accessible everyday banking rates.
BankNewport is a Rhode Island-based full-service bank offering personal and business banking, marine lending, and investment services with 200 years of community roots.
Best for: Rhode Island small business owners seeking SBA loan programs and local relationship banking, Boat owners and marine enthusiasts looking for specialized boat financing through OceanPoint Marine Lending
Unable to verify: Citizens Bank website returned access denied error. Cannot confirm current services, offerings, or company details from primary source.
Best for: Local banking with personal service, FDIC-insured deposits
FDIC-insured bank offering checking, savings, CDs, mortgages, home improvement loans, auto loans, and boat financing with both retail and commercial services.
Best for: First-time homebuyers seeking structured guidance and support through the Keys to Confidence program, Boat and marine enthusiasts looking for specialized lending with dedicated specialists
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