NEWPORT, R.I. (August 8, 2007) – BankNewport President & CEO Thomas W. Kelly recently joined representatives from the Cluny School in Newport for a groundbreaking ceremony for Phase I of the school’s $5.2 million renovation project. BankNewport extended a grant in the amount of $10,000 to the Cluny School in support of the project.

Phase I of the project will include an addition for pre-K and kindergarten classrooms, four new classrooms for grades five through eight, remodeling and upgrading existing classrooms for grades one through four, a new art room, a new play area and additional off –street parking.

BankNewport, founded in 1819 and currently holding $1 billion in assets, is an FDIC-insured savings bank. Along with its other OceanPoint Financial Partners - OceanPoint Insurance Agency, Inc., Smith Mack & Associates, Meredith & Clarke, and Narragansett Underwriting Group – BankNewport is proud to serve the financial needs of customers from banking and insurance offices located throughout southeastern New England.