As I celebrate one year at BankNewport, I am very proud to be associated with an incredibly well-run organization. It has been a great experience to work with such an impressive leadership team and the teams behind them. The key reasons I decided to join BankNewport were the customer-first culture and the commitment to community. And as a result of the solid foundation and dedication of our employees, BankNewport has experienced strong sales and financial performance.

As we turn the corner of another year of managing the shifts in the pandemic, the bank and the insurance agency experienced record earnings and growth. All the business lines met or exceeded their goals and the bank and insurance agency received a number of awards and recognitions, such as Best Places to Work and Fastest Growing Company in Rhode Island, #1 SBA 504 Lender and the Arbella Insurance Chairman Circle Award, just to name a few.

Our commitment to relationship building, combined with our solid financial foundation, allowed us to grow, expand our branch network and enhance our digital services by investing in the development of new products, services, and technology. It is important that we continue to invest in new branches, such as our new Warwick branch at 27 Strawberry Field Road, and renovate with new PTMs at the Warren and Jamestown branches.

Joining an organization in the midst of a pandemic came with many challenges one of which was getting to know employees and customers in a remote environment. External factors such as the increasingly competitive environment, rising rates, inflation and world events present challenges to our future results. Cybersecurity and global turmoil keep us on high alert, as does the constant need to protect the bank and customer data.

What continues to drive change is you, our customers. Consumer adoption of digital and the demand for more digital services in a faster, more convenient and simplified fashion is expected by customers. We must invest in technology and digital solutions to grow and serve our customers, employees and ultimately our communities better. To achieve this growth we need to focus on expansion, digital transformation and the ability to deepen customer relationships.

We can't do this without talented people and providing an excellent customer experience. This is the essence of the digital experience connected by people. I am confident we will provide a better employee experience by providing systems, sales tools and processes to enhance efficiency; a better customer experience that exceeds customers' expectations; and finally, a better community experience. The more we grow, the more we can give back. I am proud of the fact that we continued to support our communities by proactively donating over $1.2 million in 2021.

We are well capitalized and are positioned for many more successful years to come.