Edgar Filing: BANCORP RHODE ISLAND INC

Malcolm Chace 13G/A

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

SCHEDULE 13G

Under the Securities Exchange Act of 1934
(Amendment No. 4)*

Bancorp Rhode Island, Inc.
--------------------------
(Name of Issuer)

Common Stock, $0.01 par value per share
---------------------------------------
(Title of Class of Securities)

059690 10 7
-----------
(CUSIP Number)

December 31, 2003
---------------------------------------------
(Date Of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule
is filed:

[ ] Rule 13d-1(b)
[ ] Rule 13d-1(c)
[x] Rule 13d-1(d)

*The remainder of this cover page shall be filled out for a reporting person's
initial filing on this form with respect to the subject class of securities, and
for any subsequent amendment containing information which would alter the
disclosures provided in a prior cover page.

The information required on the remainder of this cover page shall not be deemed
to be "filed" for the purpose of Section 18 of the Securities Exchange Act of
1934 ("Act") or otherwise subject to the liabilities of that section of the Act
but shall be subject to all other provisions of the Act (however, see the
Notes).

(A fee is not being paid with this statement.)

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1 Names of Reporting Persons/I.R.S. Identification Nos. of Above Persons (Entities
Only)
Malcolm G. Chace
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2 Check the Appropriate Box if a Member of a Group (a) [ ]
(See Instructions) (b) [ ]

Not Applicable
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3 SEC Use Only

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4 Citizenship or Place of Organization

United States
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----------------------------------- --------- ---------------------------------------------------
Number of 5 Sole Voting Power
Shares 140,730*
Beneficially -------------------------------------------------------------------------------------
Owned by 6 Shared Voting Power
Each 468,158
Reporting -------------------------------------------------------------------------------------
Person With 7 Sole Dispositive Power
140,730*
-------------------------------------------------------------------------------------
8 Shared Dispositive Power
468,158
----------------------------------- --------- ---------------------------------------------------
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9 Aggregate Amount Beneficially Owned by Each Reporting Person
608,888*
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10 Check if the Aggregate Amount in Row (9) Excludes Certain Shares
(See Instructions)

15.6%
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12 Type of Reporting Person (See Instructions)

IN
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* Includes 1,000 shares of Common Stock issuable upon the exercise of
currently exercisable stock options.

Item 1.
Item 1(a). Name of Issuer.
--------------

Bancorp Rhode Island, Inc.

Item 1(b). Address of Issuer's Principal Executive Offices.
-----------------------------------------------

One Turks Head Place
Providence, RI 02903

Item 2.

2(a). Name of Person Filing.
---------------------

Malcolm G. Chace

2(b). Address or Principal Business Office or, if none, Residence.
-----------------------------------------------------------

c/o Point Gammon Corporation
One Providence Washington Plaza, 4th Floor
Providence, Rhode Island 02903

2(c). Citizenship.
-----------

United States

2(d). Title of Class of Securities.
----------------------------

Common Stock, par value $0.01 per share

2(e). CUSIP Number.
------------

059690 10 7

Item 3.

Not Applicable

Item 4. Ownership.
---------

Provide the following information regarding the aggregate number and percentage
of the class of securities of the issuer identified in Item 1. a.

a. Amount Beneficially Owned.
-------------------------

As of January 16, 2004, the reporting person beneficially owned: 608,888 shares
of Common Stock, (i) 139,730 shares of which are held in a Grantor Trust over
which Mr. Chace has sole voting power and sole power to direct the disposition,
(ii) 1,000 shares of which are purchasable upon the exercise of currently
exercisable options, (iii) 59,025 shares of which are held in trusts for which
Mr. Chace acts as co-trustee and over which Mr. Chace shares voting power and
the power to direct the disposition, (iv) 404,633 shares of which are held in
trusts for which an immediate family member of Mr. Chace acts as a trustee and
over which Mr. Chace is deemed to share voting power and the power to direct the
disposition, and (v) 4,500 shares of which are owned by Mr. Chace's spouse. Mr.
Chace expressly disclaims any economic or beneficial interest in 9,625 of the
shares held by certain trusts referenced in clause (iii).

b. Percent of class.
----------------
15.6%

c. Number of shares as to which such person has:

i. sole power to vote or to direct the vote ...................140,730*
ii. shared power to vote or to direct the vote..................468,158
iii. sole power to dispose or to direct the disposition of ......140,730*
iv. shared power to dispose or to direct the disposition of.....468,158

Item 5. Ownership of Five Percent or Less of a Class.
--------------------------------------------

Not Applicable

Item 6. Ownership of More Than Five Percent on Behalf of Another Person.
---------------------------------------------------------------

Not Applicable

Item 7. Identification and Classification of the Subsidiary Which Acquired the Security Being
-------------------------------------------------------------------------------------
Reported on by the Parent Holding Company or Control Person.
-----------------------------------------------------------

Not Applicable

Item 8. Identification and Classification of Members of the Group.
---------------------------------------------------------

Not Applicable

Item 9. Notice of Dissolution of Group.
------------------------------

Not Applicable

Item 10. Certifications.
--------------

Not Applicable

Signature

After reasonable inquiry and to the best of my knowledge and belief, I certify
that the information set forth in this statement is true, complete and correct.

Dated January 27, 2003

/s/ Malcolm G. Chace
--------------------
Name/Title Malcolm G. Chace

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* Includes 1,000 shares of Common Stock issuable upon the exercise of currently
exercisable stock options.