Kevin M. McCarthy was named president and chief executive officer of Newport Savings/Island Trust, Newport, R.I.

Mr. McCarthy had been executive vice president of the bank since 1989.

Prior to joining Newport Savings/Island Trust, Mr. McCarthy was with the Federal Home Loan Bank of Boston, where he served 12 years as vice president and director of regulatory policy.

He began his career with the Federal Home Loan Bank Board, as an examiner. Mr. McCarthy also served as a director of the former U.S. League of Savings Institutions.

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