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BankNewport Names Portfolio Relationship Manager


NEWPORT, R.I. (May 3, 2021) – BankNewport is pleased to announce that David J. Costa has been named Vice President and Portfolio Relationship Manager in the Commercial Lending Group.  In his position, Costa proactively supports commercial lenders in managing existing portfolio customers and assists with new customer acquisition activities, resolving issues, and managing the credit approval process, while also working closely with the Credit Underwriting Team to ensure loan packages are complete and credit decisions are reached in a timely fashion.

“We are pleased to welcome David to the BankNewport team,” said Ken Burnett, Senior Vice President, Director of Commercial Relationships. “His wealth of experience in the industry will provide existing and prospective customers with the unparalleled service we are proudly known for at BankNewport.”

Costa has more than 30 years of banking and commercial lending experience, most recently as Vice President and Director of Facilitation at Santander Bank.  He earned a Bachelor of Science degree in Business Administration from Roger Williams University. He is a resident of Bristol, RI.

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.