NEWPORT – OceanPoint Financial Partners, the mutual holding company for BankNewport, reported record total assets of $3 billion for 2025, the company announced at its annual meeting held April 20.
Company Chairman Peter Capodilupo presided over the meeting, where he said the milestone reflects a long-term goal of reaching the $3 billion threshold.
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BankNewport also received multiple statewide honors from the U.S. Small Business Administration for its small-business lending performance in fiscal year 2025, including recognition as Rhode Island 7(a) Lender of the Year and 504 third-party lender awards.
The bank originated 72 SBA 7(a) loans totaling $4.54 million and 16 SBA 504 third-party loans totaling $12.14 million, ranking first in combined lending volume in the state.
OceanPoint Marine Lending, a division focused on marine and recreational vehicle financing, expanded its operations through the acquisition of Lending Associates, forming a new subsidiary, OceanPoint Funding Inc., which will focus on recreational lending nationwide.
OceanPoint Investment Solutions reported continued growth in wealth management services, with advisory accounts increasing 27% and assets under management rising to $90 million.
The company also reported more than $1.75 million in charitable contributions and community sponsorships in 2025, supporting organizations across housing, education, arts and health initiatives.
Employees logged more than 10,000 volunteer hours for the third consecutive year, supporting more than 500 organizations statewide through volunteerism, board service and financial education programs.
BankNewport CEO and President Jack Murphy also announced the appointment of John J.B. “J.J.” Silvia III of Portsmouth as a new corporator, a role supporting the governance of the mutual bank structure.
Murphy also recognized two retiring trustees, MaryJo Carr and Janet Robinson, for their decades of service to the institution and its community mission.
Matthew McNulty is a PBN staff writer. He can be reached at McNulty@PBN.com or on X at @MattMcNultyNYC.
