BankNewport Gets First Woman CEO

The first woman CEO of BankNewport, whose Barrington branch sponsors the town’s summer concert series and is active in the Barrington Business Association, has taken over the 193-year-old mutual bank.

Sandra J. Pattie officially took the helm as president and CEO of BankNewport and its mutual holding company, OceanPoint Financial Partners, on Thursday, Jan. 5. She fills the post held by Thomas W. Kelly, who retired on Dec. 31.

“Sandy represents an exciting new chapter in the history of BankNewport,” said Board Chairman J. Timothy O’Reilly.  “She’s played a significant role in the growth and financial security of this bank during her 27-year tenure and she’s the right leader for this organization on its growth trajectory.”

“It will be a privilege for me to lead our talented team,” said Pattie of Rehoboth, Mass.  “Together, we’ve weathered a difficult economy and continued to grow while remaining focused on our commitment to customers, employees and on the communities where we work and live.  I look forward to building upon the forward momentum that we’ve established.” 

Patties has more than 35 years in the banking industry. She began her career at BankNewport in 1984 as a loan officer in the consumer lending department. Most recently, she served as executive vice president and chief operating officer, a position she has held since May 2002.

In her new position, Pattie will oversee the 193-year old mutual bank that has 13 branches in 11 Rhode Island communities and employs 269 people in its commercial lending, retail banking, mortgage and insurance divisions. 

Patties serves on the Community College of Rhode Island Foundation, the Providence College President’s Council and the Newport Hospital Board of Governors.  She is a board member of the United Way of Rhode Island and the Rhode Island Bankers Association. Previously, she served on the board of the East Bay Chamber of Commerce.

Pattie is a graduate of Community College of Rhode Island, Providence College, the University of Wisconsin’s School for Bank Administration and the College of Financial Planning at Northeastern University.  She is a certified financial planner.

BankNewport is an FDIC-insured savings bank with $1.1 billion in assets. It also operates OceanPoint Insurance Agency, a Middletown-based company with a Barrington branch on Bosworth Street that provides commercial and personal insurance services, including property and casualty, life, health, disability and long-term care.