BankNewport proudly announced its accomplishments for 2025 at the annual meeting of OceanPoint Financial Partners, MHC (the “Company”), the mutual holding company of BankNewport, held on Monday, April 20, 2026.

The Company’s Chairman, Peter Capodilupo, presided over the meeting where he announced that the Company’s total assets reached a record $3.0 billion, fulfilling an overarching goal of the institution.

BankNewport has again been honored by the U.S. Small Business Administration’s Rhode Island District Office for its outstanding performance in small business lending, marking the second consecutive year of recognition. During the annual SBA Rhode Island Lender Awards ceremony, BankNewport was named Rhode Island 7(a) Lender of the Year, Rhode Island 504 3rd Party Lender of the Year, and Rhode Island 7(a) & 504 3rd Party Combined Dollar Volume Lender of the Year for fiscal year 2025. According to SBA lender rankings, BankNewport originated 72 SBA 7(a) loans totaling $4.537 million and 16 SBA 504 third-party loans totaling $12.141 million, resulting in the state’s highest combined dollar volume for 7(a) and 504 lending. 

OceanPoint Marine Lending, a division of BankNewport, focused on brokering marine and recreational vehicle financing, advanced its growth strategy by acquiring Lending Associates. This merger resulted in the creation of OceanPoint Funding, Inc., a unified national brand and new subsidiary of the Company whose sole purpose will be to focus on recreational lending.

OceanPoint Investment Solutions continued to design programs for wealth management, serving clients throughout the region.  Advisors were able to grow their number of accounts by 27% in 2025 and assets under management has grown to $90 million.

BankNewport’s continued community investment across Rhode Island, with more than $1.75 million in charitable grants, contributions, and community sponsorships. The Bank’s philanthropy impacted organizations across four key focus areas: basic human needs, education success, arts and culture, and healthy lives, thriving communities.

Bank employees performed over 10,000 volunteer service hours for the third consecutive year. Over 500 organizations throughout the state were impacted by the Bank’s philanthropy in 2025, via monetary support, board service and/or financial education. 

CEO Jack Murphy concluded the meeting by recognizing two Trustees that were retiring as of the annual meeting, sharing his appreciation to MaryJo Carr and Janet Robinson for their distinguished service, leadership, and lasting contributions to the Bank, its customers, colleagues, and the communities it serves.  MaryJo Carr has been a  Corporator since 1985 and a member of the Board of Trustees and Directors since 1994.  Janet Robinson has served BankNewport since 2013, as a Corporator, Board Director and as a Trustee.  Both  MaryJo Carr and Janet Robinson also served on various Board committees across multiple areas of the Bank’s operations and governance during their tenure. MaryJo Carr and Janet Robinson were recognized for their leadership, integrity, and generosity of time and talent, leaving an indelible mark on the institution.