BankNewport Names Paul A. Marchetti to Executive Vice President

NEWPORT, RI (June 20, 2022) – BankNewport is pleased to announce that Chief Credit Officer and Chief Risk Officer Paul A. Marchetti has been promoted to executive vice president.

During his seven-year tenure at BankNewport, Marchetti has developed best-in-class Risk Management and Credit Risk programs. He also has oversight for BankNewport’s Community Development program and is a member of the Bank’s Executive Loan Committee.

“I’m excited to have Paul join our senior executive team,” said Jack Murphy, President and CEO, BankNewport. “His depth of knowledge and experience has been important to our organization and will be integral to our continued growth.”

Prior to joining BankNewport, Marchetti held senior leadership roles at Greylock Federal, Citizens Financial Group and Fleet Bank. He started his career as a federal bank examiner working at both the Department of the Treasury and the FDIC.

Marchetti received a Bachelor of Science from the University of Rhode Island and an MBA from Bryant University. He also carries the certifications of Chartered Financial Analyst – CFA and Certified Anti Money Laundering Specialist – CAMS. Marchetti is also associated with the Center for Financial Professionals (CeFPro), an international research organization and the focal point for financial risk professionals to advance through renowned thought-leadership and knowledge sharing.

Marchetti is a member of the Northern Rhode Island Chamber of Commerce Board of Directors and is a Trustee of the Providence Foundations. He resides in Smithfield, 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. BankNewport is one of the longest-standing 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 18 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.