NewportFed second-quarter profit declines 42 percent

NEWPORT – Newport Bancorp Inc. the holding company for Newport Federal Savings Bank, on Friday reported second-quarter net income of $253,000, a 42 percent decline from the $439,000 profit posted during the same quarter ending June 30 last year. Through June of this year, the bank has posted a profit of $655,000, or 20 cents…

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