Sandra Pattie Becomes First Female President of BankNewport

Sandra J. Pattie has officially taken the helm as president and CEO of OceanPoint Financial Partners, MHC and on January 1, becoming the first female CEO of the 193-year old mutual bank.

“Sandy represents an exciting new chapter in the history of BankNewport,” said Board Chair 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,” added Pattie. “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.” 

With more than 35 years in the banking industry, Pattie 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 that 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. 

As a BankNewport executive, Pattie has led by example by taking an active role in Rhode Island non-profits. She serves on the 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 boards of the East Bay and the Newport County Chambers of Commerce and the Workforce Partnership of Greater Rhode Island.

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 also a certified financial planner.

Thomas W. Kelly preceded Pattie as CEO and formally retired on Dec. 31. 

OceanPoint Financial Partners is the Mutual Holding Company of BankNewport, an FDIC-insured savings bank, founded in 1819, and currently holding $1.1 billion in assets, and OceanPoint Insurance Agency, Inc., a full-service agency, headquartered in Middletown, that provides a broad range of commercial and personal insurance services, including property and casualty, life, health, disability and long-term care. 

BankNewport and OceanPoint Insurance Agency are proud to serve the financial and insurance needs of customers from banking and insurance offices located throughout Rhode Island.