The Securities and Exchange Commission (SEC) on Monday charged a Rhode Island bank director and three others with insider trading.

The SEC said this week that Anthony Andrade and others collectively profited by more than $80,000 when Andrade, then a director on the board of Bancorp Rhode Island, tipped off friends and business associates to the bank’s impending acquisition by Brookline Bancorp.

Brookline Bancorp announced its acquisition of Bancorp Rhode Island on April 20, 2011. According to a statement the commission released yesterday, Andrade illegally tipped inside information about the acquisition to friends and business associates including Kenneth Rampino of Seekonk; Robert Kielbasa of Portsmouth, R.I.; and Fred Goldwyn of Wilmington, Del.

The SEC’s complaint alleges that those three traded on the information Andrade supplied them and profited when the Rhode Island bank’s stock increased after the acquisition was announced. On the day of the acquisition announcement, Bancorp Rhode Island’s stock closed at $44 per share, an increase of $13.29 per share, or 43 percent, from the prior day’s closing price, the SEC said.

Kielbasa and Goldwyn agreed to settle the SEC’s charges without admitting or denying the allegations, by consenting to the entry of judgments permanently enjoining them from violating Section 10(b) of the Exchange Act and Rule 10b-5. Kielbasa was ordered to pay a civil penalty, trading profits and interest totaling $84,625, while Goldwyn was ordered to pay a civil penalty, trading profits and interest totaling $50,301.

The SEC is also seeking to have Andrade and Rampino disgorge their ill-gotten gains with interest and pay civil penalties up to three times their gains, and the commission wants to bar Andrade from serving as an officer or director of a public company, as well.