Banknewport
FDIC #18129
📍 Newport, Rhode Island
Banknewport is a commercial bank, state charter and fed member, supervised by the federal reserve (frb). established in 01/01/1819. With assets of $2.63 Billion, it operates 20 domestic branches.
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Community Reinvestment Act (CRA) Rating
Latest Exam: May 20, 2024
What is CRA? The Community Reinvestment Act (CRA) is a federal law that encourages banks to help meet the credit needs of the communities in which they operate, including low- and moderate-income neighborhoods.
Rating History
May 20, 2024
Satisfactory
January 24, 2022
Satisfactory
September 16, 2019
Satisfactory
💰 Financial Strength
Total Assets$2.63 Billion
Total Deposits$2.13 Billion
Equity Capital$238.77 Million
Net Income$8.58 Million
📈 Performance
ROA0.45%
ROE4.79%
Financial Terms:
ROA (Return on Assets): Measures profitability relative to size. 1.0%+ is good.
ROE (Return on Equity): Measures profitability for shareholders. 10%+ is strong.
ROA (Return on Assets): Measures profitability relative to size. 1.0%+ is good.
ROE (Return on Equity): Measures profitability for shareholders. 10%+ is strong.
📋 Corporate Structure
Established01/01/1819
FDIC Cert18129
Holding CoOceanpoint Finl Partners Mhc
Parent CertNA - Not listed as a child of a larger bank.
Last ChangeAugust 31, 2022
Foreign Offices0
SAIF InsuredNo
State CharteredYes
🕰️ Lobby Hours
Monday9:00 AM - 4:00 PM
Tuesday9:00 AM - 4:00 PM
Wednesday9:00 AM - 4:00 PM
Thursday9:00 AM - 4:00 PM
Friday9:00 AM - 6:00 PM
Saturday9:00 AM - 12:00 PM
SundayClosed
📜 Institutional History
2006
Name Change
Name became: Changed Institution Name To Banknewport.
1996
Name Change
Name became: Changed Institution Name To Bank Of Newport.
1987
Merger / Acquisition
Acquired: Newport County Trust Company
1975
Name Change
Name became: Changed Institution Name To The Savings Bank Of Newport.