NEWPORT, R.I., August 16, 2007 – NewportFed today announced that David R. Cunningham of South Kingstown, R.I. has joined the bank as vice president of commercial real estate lending. As such, Mr. Cunningham will be responsible for commercial business development throughout R.I. and Mass. Prior to joining NewportFed, he held a similar position with Conn.-based Webster Bank.

Founded in 1888, NewportFed provides individuals and businesses with retail and commercial banking services from five convenient R.I. locations in Newport, Wakefield, Middletown and Westerly (two offices), and is also committed to supporting civic and nonprofit organizations in these same communities. At the end of 2006, the bank had over $290 million in assets. For more information on NewportFed, please call (401) 847-5500, drop by any branch office or visit www.newportfederal.com.