NewportFed 1Q profit increases to $259,000

NEWPORT – Newport Bancorp Inc., the holding company for Newport Federal Savings Bank, has reported a first-quarter profit of $259,000 or 6 cents per share compared with net income of $25,000 in the first quarter of 2006, before the company went public. Net interest and dividend income increased 15.6 percent to $2.4 million from the…

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