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 on 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 team, 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.
We’re All In!
President & CEO of BankNewport
Financial Results
Financials presented represent OceanPoint Financial Partners, MHC results for 2024.
$2.8 Billion
Total Assets
$2.29 Billion
Total Loans
45,807
Customers
$2.27 Billion
Total Deposits
$329 Million
Commercial Loan Originations
$155 Million
Total Revenue
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 2,200 students and community members were engaged in interactive presentations through our financial education program, BNWise. Topics ranged from saving and budgeting, to credit and entrepreneurship.
Community
Impact Campaign
Kind Hearts Warm Soles, our annual drive to benefit Rhode Island’s homeless population, was a great success. Employees and community members rallied to collect over 1,800 pairs of adult and children’s socks for underserved communities. This team effort impacted thousands of people in need who rely on local organizations that serve the homeless population.
"I'm in." Brand Campaign
“I’m in.”, an extension of our popular “We’re all in.” campaign was expanded to feature new employees while also incorporating Spanish campaign assets. This marketing effort continues to highlight why our employees are passionate about being part of the BankNewport team and serving our communities.
Watch the videos
Business Banking Campaign
In late 2023, a new campaign launched showcasing BankNewport as the bank for Small Businesses. The focus is on team members, highlighting their passion for helping local businesses grow and their commitment to personalized service. The campaign will continue in 2024.
Sponsorship
Charitable Giving
Our 2023 All In Giving efforts resulted in over $1.6 million awarded throughout every county in Rhode Island, impacting basic needs, children and families, education, economic security, the arts, and the environment. Some of our gifts benefited the following organizations:
BIKE NEWPORT
BOYS & GIRLS CLUBS OF NEWPORT COUNTY
CENTRAL FALLS CHILDREN’S FOUNDATION
DR. MARTIN LUTHER KING JR. COMMUNITY CENTER
FAB NEWPORT
FAMILY SERVICE OF RHODE ISLAND
FIRSTWORKS
GENESIS CENTER
HASBRO CHILDREN’S HOSPITAL
HOPE & MAIN
JONNYCAKE CENTER FOR HOPE
LOCAL INITIATIVES SUPPORT CORPORATION (LISC)
McAULEY MINISTRIES
MEALS ON WHEELS OF RI
MEETING STREET
PROJECT GOAL
RHODE ISLAND COMMUNITY FOOD BANK
SAVE THE BAY
STAR KIDS SCHOLARSHIP PROGRAM
UNITED WAY OF RHODE ISLAND
Branch Expansion
In 2023, we expanded our branch footprint with the opening of our nineteenth branch located in Lincoln, which is well suited to serve customers in Northern Rhode Island.
Looking ahead to 2024, we will be moving into our newly built Middletown branch as well as adding a community lending center in Central Falls.
Customer Experience
2023 By The Numbers
Survey says! We launched five customer satisfaction surveys and received 12,276 completed responses.
Awards
Talent
Attracting new 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 team members we added in 2023, and we look forward to sharing in their growth and successes.
Positions Filled: 91 New Employees: 76 Promotions: 25
Officer Promotions: 23 Employee Satisfaction Rating: 93%
Positions Filled: 91
New Employees: 76
Promotions: 25
Officer Promotions: 23
Employee Satisfaction Rating: 93%
© 2024. OceanPoint Financial Partners MHC. All Rights Reserved.