NEW PRESIDENT & CEO ANNOUNCEMENT

NEWPORT, R.I. (March 22, 2021) – OceanPoint Financial Partners, MHC and BankNewport Chairman of the Board, Peter Capodilupo, announced today that John F. (Jack) Murphy will succeed Sandra J. Pattie as president and chief executive officer of both the Mutual Holding Company and the Bank, effective May 17, 2021.

“We are delighted to welcome Jack to BankNewport,” said Peter Capodilupo, Chairman of the Board at BankNewport. “We are looking forward to Jack’s leadership, and are confident that his experience and perspective will further the success the Bank has enjoyed as the leading community bank in Rhode Island.”

Murphy will bring more than 30 years of financial services experience to BankNewport, most recently as President of Business Banking at Citizens Bank. During his career he has managed multiple lines of business including Small Business, Business Banking, Community Banking, Equipment Finance and Auto Finance.  Prior to his time at Citizens Bank, he held leadership positions at Santander Bank, TD Bank, JPMorgan Chase and American Express.  Murphy is a graduate of St. Michael’s College in Vermont.  He and his wife, Kelly, reside in Duxbury, MA, where they have raised five children. “I am thrilled to be joining BankNewport, whose reputation is among the best in the industry,” said Murphy. “I was drawn to the Bank because of its unwavering commitment to the community, its customers and employees, and I intend to build upon the Bank’s foundation and long standing success.” Pattie will retire from BankNewport after a 36-year career at the institution, beginning as a loan officer in 1984. In 2012, she was named the first female President and CEO in the Bank’s history, and since then has overseen steady growth, with more than $2 billion in assets and serving customers throughout the state with 17 branches in Rhode Island.

About BankNewport:

Founded in 1819 and headquartered in Newport, BankNewport offers a full suite of loan and deposit products and services for families and businesses throughout Rhode Island. With $2.0 billion in assets, BankNewport is one of the oldest community banks in the United States and, as a mutual organization, is committed to the financial success of its customers, employees and communities. BankNewport has 17 branch locations, with commercial lending offices in Cumberland and Providence. BankNewport business lines include OceanPoint Marine Lending, specializing in consumer marine and recreational vehicle financing programs, and OceanPoint Insurance, a Trusted Choice independent insurance agency, providing a broad range of property casualty insurance products, including employee benefits and marine related insurance products.