The name NewportFed has been phased out nine months after the bank’s acquisition by Willimantic, Conn.-based Savings Institute Bank & Trust, a change in original plans intended to keep the name and tradition of the Rhode Island financial institution,bank President and CEO Rheo Brouillard told Providence Business News.
Rhode Island Housing has seen a jump of more than 45 percent in the value of home mortgages closed for the period that runs January through the end of May of this year, compared with the same period in 2013.
The Washington Trust Co.’s multi-pronged growth strategy is paying off, as the state’s largest community bank registered a 9.1 percent year-over-year net income gain in the second quarter, despite a 6.2 percent decline in total interest and noninterest income.
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