BankNewport has once again earned a place on American Banker’s list of the Best Banks to Work For in 2024, organized annually by the Best Companies Group. The survey and awards program is designed to identify and honor banks with the best cultures for helping employees thrive. This repeated honor celebrates BankNewport’s dedication to building a supportive and empowering workplace that consistently prioritizes employee well-being and success. 

“The banks recognized on this list are trying hard to create workplaces that employees want to join,” said Chana R. Schoenberger, Editor-in-Chief of American Banker. “Especially during this moment when companies are experiencing a shift in how, where, and how much employees work, banks are paying attention to how they can best retain their people.” 

“Being a community bank means understanding what makes our community and the people within it unique,” said Jack Murphy, president and CEO. “It means recognizing what your community’s needs are and identifying ways we can help.” 

Murphy continued, “I am extremely proud of our BankNewport employees. They are guided every day by our Core Values: we CELEBRATE individuality, we EMPOWER creative problem solving, we INVEST the time to know our customers and communities and we COMMIT to serving the financial needs of Rhode Islanders.” 

This year 90 banks earned a spot in the ranking of Best Banks to Work For, based on an anonymous employee survey and a thorough review of the benefits and perks offered. The full 2024 Best Banks to Work For list will be featured at www.americanbanker.com.  

Determining the Best Banks to Work For involved a two-step process. The first consisted of evaluating each participating bank’s workplace policies, practices, and demographics. This part of the process was worth approximately 25% of the total evaluation. The second consisted of employee surveys aimed at assessing the experiences and attitudes of individual employees with respect to their workplace. This part of the process was worth approximately 75% of the total evaluation. The combined scores determined the final ranking.  

BankNewport’s repeat recognition as a Best Bank to Work For underscores its consistent dedication to fostering a workplace where employees feel valued and supported. This distinction marks another year of commitment to a thriving workplace culture. 

To be considered for participation, banks had to have at least 50 employees working in the U.S. and been in business for a minimum of one year. Best Companies Group managed the registration and survey process and also analyzed the data to determine the final ranking.  For more information on the Best Banks to Work For program, visit www.BestBankstoWorkfor.com.  

About BankNewport:
Founded in 1819 and headquartered in Newport, BankNewport offers a full suite of loan and deposit products and services for families and businesses throughout Rhode Island. BankNewport is one of the longest-standing community banks in the United States and, as a mutual organization, is committed to the financial success of its customers, employees, and communities. BankNewport has nineteen branch locations, a community lending center in Central Falls, and a commercial lending office in Providence. OceanPoint Marine Lending, a business line of BankNewport, specializes in consumer marine and recreational vehicle financing programs. 

Through its All In Giving program, BankNewport is committed to supporting nonprofits with areas of impact focused on basic human needs, children and families, education, economic security, healthy lives, arts and culture, and the environment. BankNewport has awarded over $9.8 million in grants, sponsorships, and donations over the past ten years to a wide range of nonprofits to help strengthen and enrich lives and communities throughout Rhode Island. Financial education and community service performed by employees totals 10,000 hours annually. For more information, please visit www.BankNewport.com. 

About American Banker:
American Banker empowers banking professionals with unique analysis and insight into the ideas transforming their business and industry. Across its journalism, events, research and benchmarking, it helps drive the way forward through the complexity of business innovation, retail and commercial disruption, technology, regulation and reform. With a banking community 850M strong, American Banker’s content connects leaders online, in person and in print every day. 

About Best Companies Group:
Since 2004, Best Companies Group has specialized in identifying and recognizing great employers to work for. We are an independent research firm that ranks companies based on our established research methodology. Our surveys provide actionable, hard-to-obtain data that companies use to improve employee recruitment and retention.