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).

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