NEWPORT – NewportFed, a division of Savings Institute Bank & Trust, has announced the creation of a four-person team of commercial lenders based in the bank’s Bellevue Avenue offices.
The commercial lending team consists of Tim Burns, who has extensive experience at NewportFed in originating and managing commerical loans; Cristina Feden, who has previous experience in commercial lending at PNC Bank; James Cavallaro, who has 12 years of commercial lending experience in Rhode Island with companies including Bank of Amercia, Citizens Bank and Sovereign Bank; and David Williamson, who has experience in small business banking with Bank of America.
“We’ve always offered businesses highly competitive rates, but with a team of this caliber, we now also offer what I believe will be an unparalled level of service,” said Rheo Brouillard, president and CEO of Savings Bank & Trust, parent company of NewportFed.
Willamantic, Conn - based Savings Institute Bank & Trust acquired NewportFed in September. The NewportFed name has been kept on the five branches in Rhode Island and one in Pawcatuck, Conn., Savings Bank & Trust retained its named on its 20 Connecticut branches