Cut bacon into 1 inch pieces. Cut onions into 1/2 inch wedges. Mince garlic clove. Dice bell pepper. Drain beans. Cook bacon in 10 inch skillet over medium heat until browned but not crisp, about 5 minutes. Remove bacon from skillet; drain off all but 2 tablespoons drippings. Add onion and garlic to skillet; cook until onion is tender but not brown, about 5 minutes. Add enough water to beef broth to make 2 1/2 cups. Add to skillet and bring to a boil. Stir in rice, bacon, thyme and salt. Cover tightly and simmer 15 minutes. Add green pepper, cover and continue cooking 5 minutes. Remove from heat. Stir in beans. Let stand covered until all liquid is absorbed, about 5 minutes.