BankNewport

10 Washington Square
Newport, RI 02840
877-709-2265
www.banknewport.com

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BankNewport is headquartered in Newport and is the 5^th largest bank in the state of Rhode Island. It is also the 610^st largest bank in the nation. It was established in 1819 and as of September of 2011, it had grown to 260 employees at 12 locations. BankNewport's savings rates are 192X the national average, and it boasts a 5-star health rating.

2.51% Reward Checking at a Rhode Island Bank (BankNewport) - 10/12/2007

Update 11/09/09: The top yield has fallen to 2.51% APY. See bottom of post for the rate and cap history.BankNewport has started a reward checking account it calls Go Checking which pays 2.51% APY for balances up to $50,000 (0.40% over) and refunds ATM...

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See Rates for: Checking | Savings | Money Market | CD | IRA

BankNewport Checking Account Rates

Apy	Min	Max	Product
1.25%	-	$50k	Go Checking
0.05%	$50k	-	Platinum Checking
0.05%	$1,200	-	Business Performance Checking

BankNewport Savings Account Rates

Apy	Min	Max	Product
100.00%	$100	-	IRA Statement Savings
100.00%	$100	-	Roth IRA Statement Savings
100.00%	$100	-	CESA Statement Savings
0.35%	$100k	-	Platinum Investment Savings
0.15%	$2,500	-	Statement Savings
0.15%	$2,500	-	Passbook Savings
0.15%	$2,500	-	Business Statement Savings
0.10%	$25	-	Club Account

BankNewport Money Market Rates

Apy	Min	Max	Product
0.30%	$75k	-	Money Market Savings Account
0.30%	$75k	-	Business Money Market Savings Account

BankNewport CD Rates

Apy	Min	Max	Product
1.75%	$1k	-	60 Month Relationship CD
1.55%	$1k	-	60 Month Regular CD
1.45%	$1k	-	48 Month Relationship CD
1.25%	$1k	-	48 Month Regular CD
1.15%	$1k	-	36 Month Relationship CD
1.05%	$1k	-	30 Month Relationship CD
0.95%	$1k	-	36 Month Regular CD
0.85%	$1k	-	30 Month Regular CD
0.80%	$1k	-	24 Month Relationship CD
0.75%	$1k	-	18 Month Relationship CD
0.65%	$1k	-	9 Month Relationship CD Special
0.60%	$1k	-	24 Month Regular CD
0.55%	$1k	-	12 Month Relationship CD
0.55%	$1k	-	18 Month Regular CD
0.45%	$1k	-	9 Month Regular CD Special
0.35%	$1k	-	12 Month Regular CD
0.30%	$1k	-	6 Month Relationship CD
0.25%	$1k	-	3 Month Relationship CD
0.10%	$1k	-	3 Month Regular CD
0.10%	$1k	-	6 Month Regular CD

BankNewport IRA Rates

Apy	Min	Max	Product
1.75%	$500	-	60 Month Relationship IRA Certificate
1.75%	$500	-	60 Month Relationship CESA Certificate
1.75%	$500	-	60 Month Relationship Roth IRA Certificate
1.55%	$500	-	60 Month Regular IRA Certificate
1.55%	$500	-	60 Month Regular CESA Certificate
1.55%	$500	-	60 Month Regular Roth IRA Certificate
1.45%	$500	-	48 Month Relationship IRA Certificate
1.45%	$500	-	48 Month Relationship CESA Certificate
1.45%	$500	-	48 Month Relationship Roth IRA Certificate
1.25%	$500	-	48 Month Regular IRA Certificate
1.25%	$500	-	48 Month Regular CESA Certificate
1.25%	$500	-	48 Month Regular Roth IRA Certificate
1.15%	$500	-	36 Month Relationship IRA Certificate
1.15%	$500	-	36 Month Relationship CESA Certificate
1.15%	$500	-	36 Month Relationship Roth IRA Certificate
1.05%	$500	-	30 Month Relationship IRA Certificate
1.05%	$500	-	30 Month Relationship CESA Certificate
1.05%	$500	-	30 Month Relationship Roth IRA Certificate
0.95%	$500	-	36 Month Regular IRA Certificate
0.95%	$500	-	36 Month Regular CESA Certificate
0.95%	$500	-	36 Month Regular Roth IRA Certificate
0.85%	$500	-	30 Month Regular IRA Certificate
0.85%	$500	-	30 Month Regular CESA Certificate
0.85%	$500	-	30 Month Regular Roth IRA Certificate
0.80%	$500	-	24 Month Relationship IRA Certificate
0.80%	$500	-	24 Month Relationship CESA Certificate
0.80%	$500	-	24 Month Relationship Roth IRA Certificate
0.75%	$500	-	18 Month Relationship IRA Certificate
0.75%	$500	-	18 Month Relationship CESA Certificate
0.75%	$500	-	18 Month Relationship Roth IRA Certificate
0.65%	$500	-	9 Month Relationship IRA Special
0.65%	$500	-	9 Month Relationship Roth IRA Special
0.65%	$500	-	9 Month Relationship CESA Special
0.60%	$500	-	24 Month Regular IRA Certificate
0.60%	$500	-	24 Month Regular CESA Certificate
0.60%	$500	-	24 Month Regular Roth IRA Certificate
0.55%	$500	-	18 Month Regular IRA Certificate
0.55%	$500	-	12 Month Relationship IRA Certificate
0.55%	$500	-	12 Month Relationship CESA Certificate
0.55%	$500	-	18 Month Regular CESA Certificate
0.55%	$500	-	12 Month Relationship Roth IRA Certificate
0.55%	$500	-	18 Month Regular Roth IRA Certificate
0.45%	$500	-	9 Month Regular IRA Special
0.45%	$500	-	9 Month Regular Roth IRA Special
0.45%	$500	-	9 Month Regular CESA Special
0.35%	$500	-	12 Month Regular IRA Certificate
0.35%	$500	-	12 Month Regular CESA Certificate
0.35%	$500	-	12 Month Regular Roth IRA Certificate

Rates updated: 2/11/2012

Data for Q3 2011

Institution Statistics

BankNewport
FDIC Certificate #	18129
BankRate Report	View
Year Established	1819
Employees	260
Primary Regulator	FDIC
Assets and Liabilities
Assets	$1.09 billion
Loans	$724.59 million
Deposits	$874.29 million
Equity Capital	$108.55 million
Loan Loss Allowance	$6.72 million
Unbacked Noncurrent Loans	$5.43 million
Real Estate Owned	$617,000
Historic Data - September 2010
Assets	$1.10 billion
Equity Capital	$103.82 million
Loan Loss Allowance	$4.52 million
Unbacked Noncurrent Loans	$4.86 million
Real Estate Owned	$525,000
Profit Margin - Quarterly
Net Interest Margin	3.13%
Return on Assets	0.51%
Return on Equity	5.19%
Interest Income	$31.71 million

Institution Health

Overall Score:

5 out of 5

Texas Ratio
The Texas Ratio is an indicator of how much funds a bank has available compared to the total value of loans considered at risk. As of September 30, 2011 BankNewport had $6.05 million in non-current loans and owned real-estate with $115.27 million in equity and loan loss allowances on hand to cover it. This gives BankNewport a Texas Ratio of 5.25% which is excellent. Any bank with a Texas Ratio near or greater than 100% is considered at risk.
Texas Ratio Trend
The Texas Ratio for BankNewport held steady from 4.97% as of September 30, 2010 to 5.25% as of September 30, 2011, resulting in a negative change of 5.44%. This indicates that the balance sheet and financial strength for BankNewport has held steady in recent periods.
Deposit Growth
In the past year, BankNewport has increased its total deposits by $29.1 million, resulting in 3.44% growth for the year. A strong track record of growth is an indicator of consumer confidence and the bank's ability to strengthen its balance sheet. The growth BankNewport has shown is above average.
Capitalization
Both FDIC and NCUA consider capitalization levels of banks and credit unions to be of high importance. Higher capitalization allows for a greater buffer when cover loans that may fail in the future. BankNewport has $1.09 billion in assets with $115.27 million in equity, resulting in a capitalization level of 10.58%, which is above average.