BankNewport


Overview / Commentary
401-849-1244
10 Washington Square
Newport, RI 02840

BankNewport is headquartered in NEWPORT and is the 4th largest bank in the state of Rhode Island. It is also the 438th largest bank in the nation. It was established in 1819 and as of June of 2024, it had grown to 321 employees at 19 locations. BankNewport's CD rates are 4X the national average, and it has an A health rating.

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Health

Health Grade Components

Overall
FDIC Certificate #18129
Year Established1819
Employees321
Primary RegulatorFED
Profit Margin
Return on Assets - YTD0.21%
Return on Equity - YTD2.19%
Annual Interest Income$68.1MM
Assets and Liabilities
AssetsQ2 2024vs Q2 2023$2.77B$2.58B
LoansQ2 2024vs Q2 2023$2.19B$2B
DepositsQ2 2024vs Q2 2023$2.22B$2.06B
Equity CapitalQ2 2024vs Q2 2023$260.8MM$240.6MM
Loan Loss AllowanceQ2 2024vs Q2 2023$14.1MM$17.1MM
Unbacked Noncurrent LoansQ2 2024vs Q2 2023$3.9MM$7.2MM
Real Estate OwnedQ2 2024vs Q2 2023$0$0
Rates
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* The APY shown varies based on the deposit amount. Expand the listing to see APYs for other deposit amounts.

BankNewport Savings Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.05%$100-IRA Statement Savings
0.05%$100-Statement Savings Account
0.05%$100-Business Statement Savings Account

BankNewport Money Market Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
2.00%*$250k*-Premium Money Market
OTHER TIERS: 0.05% $2.5k - $25k | 0.15% $25k - $75k | 0.50% $75k - $250k
2.00%*$500k*-Business Select Plus Money Market
OTHER TIERS: 0.10% $10k - $50k | 0.15% $50k - $100k | 0.20% $100k - $250k | 0.50% $250k - $500k
0.20%*$75k*-Money Market Savings Account
OTHER TIERS: 0.02% $2.5k - $10k | 0.05% $10k - $25k | 0.10% $25k - $50k | 0.15% $50k - $75k
0.20%*$75k*-Business Money Market Savings Account
OTHER TIERS: 0.02% $2.5k - $10k | 0.05% $10k - $25k | 0.10% $25k - $50k | 0.15% $50k - $75k

BankNewport CD Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
4.50%$1k-7 Month CD Special
4.00%$1k-12 Month Regular CD
4.00%$1k-12 Month Premium Gold CD
3.75%$1k-18 Month Regular CD
3.75%$1k-18 Month Premium Gold CD
3.75%$1k-24 Month Regular CD
3.75%$1k-24 Month Premium Gold CD

BankNewport IRA Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
4.50%$1k-7 Month IRA Special
4.00%$500-12 Month Regular IRA
4.00%$500-12 Month Premium Gold IRA
3.75%$500-18 Month Regular IRA
3.75%$500-24 Month Regular IRA
3.75%$500-18 Month Premium Gold IRA
3.75%$500-24 Month Premium Gold IRA
Locations

Availability



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