BankNewport acquires Offshore Financial

Updated: 2:15 p.m.

NEWPORT – BankNewport has acquired a New Jersey financial company to operate as its marine-lending division. The Newport-based bank on Monday announced the purchase of Offshore Financial Corp., a marine-service company specializing in marine-financing products. The bank declined to disclose financial details related to the deal. “Expansion of our marine lending activities presents a strategic-growth…

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