A Legacy of Impact
Annual Report | 2024
A Message from our President
As we reflect on the achievements of 2024, we celebrate our dedication to positively impacting communities, individuals, and businesses across Rhode Island. We’ve stayed true to our multi-year strategy, which focuses on expansion, digital transformation, and deepening relationships with our customers and our communities.
To provide better services for our customers, we continue to optimize our investment in new technologies. Additionally, we launched new products to support the needs of our customers including a new Checking product suite, and have focused on the unique needs of our business customers by expanding our lending offerings and updating our banking products.
We could not continue our growth without our dedicated and talented employees. We believe that when people feel valued, they thrive, and when they thrive, they deliver excellence to customers and communities. We were the recipient of several awards this year, including repeat awards such as Best Places to Work and Healthiest Employer (PBN), #1 SBA 504 and 7A Lender, EBN Best HR Teams, BCBS Worksite Health, and national recognition as an American Banker’s “Best Banks to Work For.”
BankNewport will continue our “All In” approach with the community, building upon our 2024 support to over 400 community organizations, more than 10,000 hours of community service, and over $1.6 million awarded in charitable giving. For 205 years we have been and will continue to be Rhode Island’s trusted partner in the community.
President & CEO of BankNewport
Financial Results
Financials presented represent OceanPoint Financial Partners, MHC results for 2024.
We are proud to share that our 2024 All In Giving efforts have resulted in $1.6 million being awarded through charitable grants, contributions, community event sponsorships and local branch donations to organizations throughout Rhode Island. This generosity impacted basic human needs, children and families, education, economic security, healthy lives, arts and culture, and the environment.
BNWise Financial Education
More than 2,000 students and community members were engaged in interactive presentations through BNWise, our financial education program. Topics ranged from saving and budgeting, to credit and entrepreneurship.
Community Impact
Kind Heart Fresh Start
Our annual drive to benefit those in need saw us collect over 1,000 hygiene products in partnership with Amenity Aid, Rhode Island’s only hygiene bank.
Habitat for Humanity
The BankNewport team helped South County Habitat for Humanity with a house build in Hope Valley, RI! We’re proud to partner with Habitat for Humanity in their tireless work to build strength, stability and self-reliance through shelter.
United Way Meal Packing Project
Employees packaged 12,000 meals — in less than two hours — that were distributed to Central Falls Food Pantry at Progreso Latino, East Bay Community Action Program, Welcome House of South County (WARM Inc.), and West Bay Community Action Program.
BN Plus Checking
To complement the launch of our new Consumer Checking Product Suite we launched a campaign which highlights rewarding customers for using their debit cards. This campaign leveraged vibrant new brand iconography and was delivered in both traditional and digital media. The campaign is succeeding in driving website traffic and product awareness.
Watch the video
Digital Account Opening: Anytime, Anywhere
In 2024, we introduced Digital Account Opening, a seamless online solution that empowers both businesses and consumers to open deposit accounts anytime, anywhere. To support this milestone, we launched a campaign called “We’re your anytime, anywhere bank.™” The campaign showcases how customers can open and fund accounts entirely online—whether from their office, home, or on the go, from any device.
Sponsorship
Charitable Giving
Our 2024 All In Giving efforts have made a strong impact throughout every county in Rhode Island, supporting basic needs, children and families, workforce and education success, arts and culture, and the environment. Some of our gifts benefited the following organizations:
BOYS & GIRLS CLUBS OF NEWPORT COUNTY
BOYS TOWN NEW ENGLAND
CENTRAL FALLS CHILDREN’S FOUNDATION
CHILD & FAMILY SERVICES
DR. MARTIN LUTHER KING JR. COMMUNITY CENTER
FEDERAL HILL HOUSE
FEED RI
GENESIS CENTER
HOPE & MAIN
JONNYCAKE CENTER FOR HOPE
LOCAL INITIATIVES SUPPORT CORPORATION (LISC)
JONNYCAKE CENTER FOR HOPE
MEALS ON WHEELS OF RI
MEETING STREET
NEWPORT COUNTY YMCA
NEWPORT HISTORICAL SOCIETY
ONE NEIGHBORHOOD BUILDERS
PAWTUCKET CENTRAL FALLS DEVELOPMENT
PROJECT GOAL
RHODE ISLAND COMMUNITY FOOD BANK
SAVE THE BAY
STAR KIDS SCHOLARSHIP PROGRAM
Locations
In 2024, to complement our 19 branch locations, we opened the Central Falls Community Lending Center to futher support customers in Northern Rhode Island beyond just their financial needs.
Our Middletown branch was also upgraded with a brand new build to provide a state-of-the-art facility to serve our customers.
Customer Experience
Customer satisfaction is a top priority for BankNewport. Our scores remain above average year after year and is attributed to a bank wide effort to provide the highest level of customer service.
In 2024 we received a total of 9,785 responses across our 5 active surveys.
Awards
Talent
Attracting and retaining top talent is vital as we continue our mission of exceeding our customers’ expectations and helping them meet their financial goals. We’re excited about the talented workforce we have at BankNewport, and we look forward to sharing in their growth and successes.
Promotions: 27 Officer Promotions: 8
Employee Satisfaction Rating: 90%
Promotions: 27
Officer Promotions: 8
Employee Satisfaction Rating: 90%
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