BankNewport forms new marine lending division following acquisitions

Scott Blake

09/09/2019

BANKNEWPORT’S NEW OceanPoint Marine Lending division means the bank will deliver “an even stronger marine financing experience,” said Leland R. Merrill, the bank’s executive vice president and chief lending officer. / COURTESY BANKNEWPORT

NEWPORT – BankNewport is expanding its “marine lending” business with the formation of OceanPoint Marine Lending, a new division of the bank. Over the past year, BankNewport has “maximized its strong position” in the marine financing business through the acquisition of two privately owned boat-loan origination companies – JustBoatLoans by Vertisol Inc. earlier this year,…

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