BankNewport

Overview / Commentary

www.banknewport.com

401-849-1244

10 Washington Square
Newport, RI 02840

BankNewport is headquartered in NEWPORT and is the 4^th largest bank in the state of Rhode Island. It is also the 451^st largest bank in the nation. It was established in 1819 and as of March of 2023, it had grown to 307 employees at 18 locations. BankNewport has an A health rating.

View all posts from:

2009

11/9 - 2.51% Reward Checking at a Rhode Island Bank (BankNewport)

Reviews (1)

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Banknewport The Worst Bank In Rhode Island

Posted by: ripfox | Feb 9, 2016

This has to be the worst bank i have ever worked with this bank will do everything in it's power to hit you with overdraft charges
there customer service is rude every time it rains there system goes down you are better off with a larger bank as banknewport pay such
low wages to there workers they have no pro bankers to help you

Comment

Health

Data as of Q1 2023

Learn why bank health matters

Health Grade Components

Overall
FDIC Certificate #	18129
Year Established	1819
Employees	307
Primary Regulator	FED

Profit Margin
Return on Assets - YTD	-0.06%
Return on Equity - YTD	-0.68%
Annual Interest Income	$29.0MM

Assets and Liabilities
Assets	Q1 2023vs Q1 2022	$2.54B$2.32B
Loans	Q1 2023vs Q1 2022	$1.95B$1.71B
Deposits	Q1 2023vs Q1 2022	$2.11B$2.02B
Equity Capital	Q1 2023vs Q1 2022	$239.5MM$227.0MM
Loan Loss Allowance	Q1 2023vs Q1 2022	$19.9MM$15.8MM
Unbacked Noncurrent Loans	Q1 2023vs Q1 2022	$10.3MM$20.8MM
Real Estate Owned	Q1 2023vs Q1 2022	$0$0

Rates

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Savings
Money Market
Checking
CD
IRA

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Always verify rates and promotions with the bank or credit union. We are not BankNewport; we are a rate comparison website and cannot provide official rates or promotions.

* The APY shown varies based on the deposit amount. Expand the listing to see APYs for other deposit amounts.

BankNewport Savings Account Rates

APY	MIN	MAX	ACCOUNT NAME
0.20%^*	$100k^*	-	Platinum Investment Savings
OTHER TIERS: 0.05% → $1k - $25k \| 0.10% → $25k - $50k \| 0.15% → $50k - $100k
0.05%	$100	-	IRA Statement Savings
0.05%	$100	-	Statement Savings Account
0.05%	$100	-	Business Statement Savings Account
0.02%	$25	-	Goal Saver Account

BankNewport Money Market Rates

APY	MIN	MAX	ACCOUNT NAME
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 Checking Account Rates

APY	MIN	MAX	ACCOUNT NAME	VIEW DETAILS
0.05%	$2k	-	BN Premium Checking

BankNewport CD Rates

APY	MIN	MAX	ACCOUNT NAME
5.00%	$1k	-	11 Month CD Special - Existing Money
4.25%	$1k	-	18 Month CD Special - Existing Money
4.25%	$1k	-	24 Month CD Special - Existing Money
1.00%	$1k	-	60 Month Premium Gold CD
0.75%	$1k	-	48 Month Premium Gold CD
0.75%	$1k	-	60 Month Regular CD
0.60%	$1k	-	36 Month Premium Gold CD
0.60%	$1k	-	48 Month Regular CD
0.50%	$1k	-	36 Month Regular CD
0.45%	$1k	-	24 Month Premium Gold CD
0.40%	$1k	-	18 Month Premium Gold CD
0.35%	$1k	-	12 Month Premium Gold CD
0.35%	$1k	-	24 Month Regular CD
0.30%	$1k	-	18 Month Regular CD
0.25%	$1k	-	12 Month Regular CD
0.25%	$1k	-	6 Month Premium Gold CD
0.20%	$1k	-	3 Month Premium Gold CD
0.20%	$1k	-	6 Month Regular CD
0.15%	$1k	-	3 Month Regular CD

BankNewport IRA Rates

APY	MIN	MAX	ACCOUNT NAME
5.00%	$1k	-	11 Month IRA Special - New Money
4.25%	$500	-	18 Month IRA Special - Existing Money
4.25%	$500	-	24 Month IRA Special - Existing Money
1.00%	$500	-	60 Month Premium Gold IRA
0.75%	$500	-	60 Month Regular IRA
0.75%	$500	-	48 Month Premium Gold IRA
0.60%	$500	-	48 Month Regular IRA
0.60%	$500	-	36 Month Premium Gold IRA
0.50%	$500	-	36 Month Regular IRA
0.45%	$500	-	24 Month Premium Gold IRA
0.40%	$500	-	18 Month Premium Gold IRA
0.35%	$500	-	24 Month Regular IRA
0.35%	$500	-	12 Month Premium Gold IRA
0.30%	$500	-	18 Month Regular IRA
0.25%	$500	-	12 Month Regular IRA
0.25%	$500	-	6 Month Premium Gold IRA
0.20%	$500	-	6 Month Regular IRA

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