NEWPORT – BankNewport was recently named one of the 2023 “Best Banks to Work For” by American Banker magazine, the bank announced.
The annual list is organized by the Best Companies Group and is designed to identify and honor banks with the best cultures for helping employees thrive.
BankNewport ranked No. 20 out of 90 banks on the 2023 list.
“Being a community bank means understanding what makes our community and the people within it unique,” Jack Murphy, BankNewport CEO and president, said in a statement. “It means recognizing what your community’s needs are and identifying ways we can help.”
Banks had to have at least 50 employees working in the United States and have been in business for at least one year to be considered for participation.
Spots in the ranking are determined by an anonymous employee survey and a review of the benefits and perks offered, according to a news release.
The two-step process consists of evaluating each participating bank’s workplace policies, practices and demographics, worth approximately 25% of the total evaluation, and the second part involves surveying employees to assess their experiences and attitudes regarding their workplace, worth approximately 75% of the total evaluation. The combined scores determined the final ranking.
Best Companies Group managed the registration and survey process and analyzed the data to determine the final ranking.