Banknewport vs The Washington Trust Company, Of Westerly
Comparing a Bank in Middletown, RI with a Bank in Westerly, RI using federal FDIC, NCUA, and CFPB data. Trust Grades reflect financial strength and complaint history.
| Banknewport ↗ Bank · Middletown, RI · Est. 1819 | The Washington Trust Company, Of Westerly ↗ Bank · Westerly, RI · Est. 1800 | |
|---|---|---|
| Trust Grade | A · 94/100 | A · 92/100 |
| Institution type | Bank | Bank |
| Location | Middletown, RI | Westerly, RI |
| Total assets | $3.1B | $6.5B |
| Capital ratio | 10.0% | 8.7% |
| Return on assets | 0.5% | 0.8% |
| Deposits | $2.5B | $5.2B |
| Branches | 20 | 30 |
| CFPB complaints | 0 | 0 |
| Complaints / $1B assets | — | — |
| State rank | #2 of 6 | #3 of 6 |
| Established | 1819 | 1800 |
Banknewport
- Assets: $3.1B
- Deposits: $2.5B
- Capital ratio: 10.0%
- Return on assets: 0.5%
- CFPB complaints: 0
- State rank: #2 of 6
The Washington Trust Company, Of Westerly
- Assets: $6.5B
- Deposits: $5.2B
- Capital ratio: 8.7%
- Return on assets: 0.8%
- CFPB complaints: 0
- State rank: #3 of 6
Are both institutions federally insured?
Yes. Banknewport is FDIC-insured and The Washington Trust Company, Of Westerly is FDIC-insured. Both protect deposits up to $250,000 per depositor, per ownership category, regardless of Trust Grade. The Trust Grade reflects financial strength and complaint history — not the safety of insured deposits. Estimate your coverage →
Frequently asked questions
Which is better, Banknewport or The Washington Trust Company, Of Westerly?
Based on Bankzia's Trust Grade — which blends financial strength (capital ratio, ROA) with CFPB complaint history — Banknewport scores higher with a grade of A (94/100). However, "better" depends on your needs: if you prioritize branch access, local service, or membership eligibility for a credit union, the lower-scoring option may still be the right choice for you.
Is Banknewport safe?
Yes — Banknewport is FDIC-insured, meaning deposits up to $250,000 per depositor, per ownership category are federally protected regardless of the institution's Trust Grade. Its Trust Grade is A (94/100), reflecting its financial strength and complaint history relative to peers.
Is The Washington Trust Company, Of Westerly safe?
Yes — The Washington Trust Company, Of Westerly is FDIC-insured, meaning deposits up to $250,000 per depositor, per ownership category are federally protected. Its Trust Grade is A (92/100).
What is the capital ratio of Banknewport vs The Washington Trust Company, Of Westerly?
Banknewport has a capital ratio of 10.0%, placing it in the bottom 45% of $1B–10B peers. The Washington Trust Company, Of Westerly's ratio is 8.7%, placing it in the bottom 18% of $1B–10B peers. A higher capital ratio generally signals a stronger financial cushion.
How many complaints does Banknewport have compared to The Washington Trust Company, Of Westerly?
The CFPB database shows 0 complaints against Banknewport, and 0 complaints against The Washington Trust Company, Of Westerly. The per-$1B rate adjusts for institution size and is a more meaningful comparison metric.
How does Bankzia calculate the Trust Grade?
The Trust Grade combines a financial strength score (based on capital ratio, return on assets, and other FDIC/NCUA metrics) with a customer experience score derived from CFPB complaint data. The scores are weighted and normalized within peer groups by institution size and type. See our full methodology for details.
Compare Banknewport with other Banks in Rhode Island
Financial data from FDIC call reports; complaint data from the CFPB Consumer Complaint Database. Bankzia is independent and not affiliated with any government agency or financial institution.
