MIDDLETOWN – BankNewport plans to move its headquarters and operations into one Middletown central location in the summer of 2013, bank president and CEO Sandra J. Pattie announced Tuesday.
The move is being made in order to improve efficiency. “Combining all of our back office operations and administrative functions makes good business sense,” Pattie said.
The administrative offices and operations areas, now located at 12 Turner Road and at 528 West Main Road in Middletown, will be relocated to a third bank-owned building in the Aquidneck Corporate Park.
“A lot of time and gasoline has been spent travelling between the two buildings, and with this new location we will become a more efficient operation.” Pattie said. “This is a positive move for the bank and for our employees.”
No jobs will be lost in the consolidation, according to Dennis McNamara, executive vice president of BankNewport.
“All the jobs perform different functions so there is no overlap,” he said. The bank estimates 135 employees will be headquartered at the new address when the move is completed.
The new location is the former ASFT building in the Aquidneck Corporate Park in Middletown, which closed last year when owner Anjan Dutta-Gupta was arrested by federal authorities on charges of bribing Navy officials for allegedly seeking software contracts worth millions.