Ownership Submission
FORM 4
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940
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(Print or Type Responses)
1. Name and Address of Reporting Person *
ERICSON KARL F
  2. Issuer Name and Ticker or Trading Symbol
BANCORP RHODE ISLAND INC [BARI]
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
__X__ Director _____ 10% Owner
_____ Officer (give title below) _____ Other (specify below)
(Last)
(First)
(Middle)
280 SANCTUARY DRIVE
3. Date of Earliest Transaction (Month/Day/Year)
03/21/2007
(Street)

EAST GREENWICH, RI 02818
4. If Amendment, Date Original Filed(Month/Day/Year)
6. Individual or Joint/Group Filing(Check Applicable Line)
_X_ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person
(City)
(State)
(Zip)
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3)
2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code
(Instr. 8)
4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)
5. Amount of Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 3 and 4)
6. Ownership Form: Direct (D) or Indirect (I)
(Instr. 4)
7. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V Amount (A) or (D) Price
Common Stock 03/21/2007   M   1,500 A $ 17.1875 10,500 D  
Common Stock 03/21/2007   M   500 A $ 10.875 11,000 D  
Common Stock 03/21/2007   M   500 A $ 10.125 11,500 D  
Common Stock 03/21/2007   M   500 A $ 16 12,000 D  
Common Stock 03/21/2007   M   500 A $ 22.15 12,500 D  
Common Stock 03/21/2007   M   500 A $ 25.12 13,000 D  

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Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security
(Instr. 3)
2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year) 3A. Deemed Execution Date, if any (Month/Day/Year) 4. Transaction Code
(Instr. 8)
5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4, and 5)
6. Date Exercisable and Expiration Date
(Month/Day/Year)
7. Title and Amount of Underlying Securities
(Instr. 3 and 4)
8. Price of Derivative Security
(Instr. 5)
9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 4)
10. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 4)
11. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Stock Option (Right to purchase) $ 17.1875 03/21/2007   M     1,500 11/20/1998 05/20/2008 Common Stock 1,500 $ 0 0 D  
Stock Option (Right to purchase) $ 10.875 03/21/2007   M     500 11/26/1999 05/26/2009 Common Stock 500 $ 0 0 D  
Stock Option (Right to purchase) $ 10.125 03/21/2007   M     500 11/17/2000 05/17/2010 Common Stock 500 $ 0 0 D  
Stock Option (Right to purchase) $ 16 03/21/2007   M     500 11/16/2001 05/16/2011 Common Stock 500 $ 0 0 D  
Stock Option (Right to purchase) $ 22.15 03/21/2007   M     500 11/15/2002 05/15/2012 Common Stock 500 $ 0 0 D  
Stock Option (Right to purchase) $ 25.12 03/21/2007   M     500 11/21/2003 05/21/2013 Common Stock 500 $ 0 0 D  

Reporting Owners

Reporting Owner Name / Address Relationships
 Director  10% Owner  Officer  Other
ERICSON KARL F
280 SANCTUARY DRIVE
EAST GREENWICH, RI 02818
  X      

Signatures

 Margaret D. Farrell (Attorney-in-fact for Karl F. Ericson)   03/22/2007
**Signature of Reporting Person Date

Explanation of Responses:

* If the form is filed by more than one reporting person, see Instruction 4(b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).

Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.

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