Mayhew to Succeed Colella as CEO of OceanPoint Insurance Agency, Inc.

FOR IMMEDIATE RELEASE

October 26, 2012

MIDDLETOWN/BARRINGTON – OceanPoint Insurance Agency, Inc., an OceanPoint Financial Partner with BankNewport, has announced that Douglas K. Mayhew will succeed Peter J. Colella as president and chief executive officer effective January 1, 2013.

A 26-year veteran of the insurance industry, Mayhew has been with OceanPoint Insurance since 2005, most recently serving as Senior Vice President, Personal Lines Director. Prior to 2005, Mayhew was a founding partner of Narragansett Underwriting Group Inc. with Colella and Robert D. Cook Jr., also an OceanPoint Insurance Senior Vice President. Narragansett Underwriting Group merged with OceanPoint Insurance in 2005.

Mayhew began his insurance career in 1986 as an agent with a Pawtucket based agency. He is a 1985 graduate of Bryant University, where he earned a bachelor’s degree in business administration.  He has been a Certified Insurance Counselor (CIC) for more than 20 years.  Mayhew is president of the Independent Insurance Agents of Rhode Island, president-elect of the Rhode Island Association of Independent Insurance Agents Inc., and a member of the board of directors of the East Providence Area Chamber of Commerce. An avid bicyclist and outdoorsman, Mayhew resides in Barrington with his wife and their two teenage daughters.

Prior to his appointment as president of OceanPoint Insurance Agency in 2007, Colella was president and chief executive officer of two other insurance operations during his 36 years of insurance agency experience.  He will remain with OceanPoint Insurance as a senior adviser and will continue to service key agency accounts.

About OceanPoint Insurance

Headquartered in Middletown, Rhode Island, OceanPoint Insurance Agency, Inc. provides a broad range of property casualty insurance products, in addition to a full array of financial services. Along with BankNewport, OceanPoint Insurance Agency, Inc. is a subsidiary of the Mutual Holding Company, OceanPoint Financial Partners, MHC. Tracing its roots back to 1863, OceanPoint Insurance Agency, Inc. is proud to serve the insurance needs of clients from two full service offices located in Middletown and Barrington, Rhode Island, forming one of the largest independent insurance agency operations in southeastern New England. For more information visit www.oceanpointins.com.

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