The Rhode Island Hospital Trust was formed during the Civil War. State leaders agreed that Rhode Island needed a state hospital, and that the new institution should have an ongoing source of income. The Rhode Island Hospital was inaugurated in 1868 and the Rhode Island Hospital Trust (RIHT) was created to provide a source of income.

RIHT is the oldest trust company in New England, with over one third of it's profit initially dedicated  to the Rhode Island Hospital. The hospital itself later became a major stockholder in the company.

In 1916 the hospital became a partner in The Rhode Island Foundation and during the next 80 years the Rhode Island Hospital Trust's involvement with the hospital decreased as the new Foundation's staff and expertise grew. 

BankBoston absorbed Rhode Island Hospital Trust and BankBoston merged with Fleet Bank in 2000. Rhode Island Hospital Trust is now only another RI memory.

In March of 2003 FleetBoston Financial Corporation sold two of the Rhode Island Hospital Trust Buildings in Providence to Gilbane Properties.  

NOTE: The Gilbanes maintained a home on the cliffs overlooking Narragansett Bay off of Lloyd Road just north of Saunderstown next to Judge Donnelly's home.

Source:
The Rhode Island Foundation