$892.9 MTotal Annual Compensation & Benefits
$99,108Average Total Compensation & Benefits
7 Banks Headquartered in State
Before the onset of COVID-19, 35 employee volunteers from BankNewport and its sister agency, OceanPoint Insurance, participated in a meal-packaging project with the United Way of Rhode Island. This partnership not only allowed bank employees to interact with their community, but also gave them the chance to strengthen relationships with their team beyond the walls of their branch.
Source: FDIC branch deposit data (2021 Q2), FDIC Call Report 2Q2021, 2021 BLS/US Census Quarterly Census of Employment and Wages (QCEW) for Credit Intermediation and Related Activities, and ABA Analysis
$6.2 BNew Home Loans Booked in 2021
19,891Number of New Home Loans in 2021
$235,000Median New Home Loan Size in 2021
$1.5 BSmall Business Loans
94.5 KNumber of Small Business Loans
$15,724Average Small Business Loan
$52.3 MSmall Farm Loans
657Number of Small Farm Loans
$38,287Average Small Farm Loan
Citizens Bank’s Small Business Recovery Program committed $2 million to business customers impacted by the COVID-19 pandemic. Through the program, 134 small businesses were selected to receive a $15,000 grant to help them recover. One recipient is Operation Made, a small Rhode Island-based boutique where Veterans and military spouses can sell their handcrafted merchandise.
Source: CFPB HMDA data, year-end 2021; FDIC Call Report 2Q2021 and Year-End 2021; 2021 USDA Quarterly Farm data and USDA/Census Data from 2017 State of Ag Survey; 2021 SBA/Census Data and ABA analysis
20Banks Operating Branches
237Branches & Offices
49Branches Offering Low Fee Bank On-certified Accounts
Sources: Estimates based on ABA 2020/2021 survey data; FDIC Summary of Deposit (SOD) 2021Q2 Data; Cities for Financial Empowerment Fund
148.4 KVolunteer Hours
$81.6 MCommunity Donations
BankNewport continues to uphold its commitment to the community during the COVID-19 pandemic. The Bank’s Community Fund Committee provided grants totaling $250,000 to Rhode Island COVID-19 response funds and the Rhode Island Community Food Bank.
Source: Estimates based on ABA 2020/2021 survey data