HIFS

Financial Performance: Hingham Institution for Savings reported a significant increase in net income for the second quarter of 2025, reaching $9.41 million or $4.32 per share, compared to $4.10 million or $1.88 per share in the same period last year, marking a 127.7% rise in diluted earnings per share.

Balance Sheet Growth: The bank's total assets grew to $4.54 billion with a 3.7% annualized growth year-to-date, while non-interest-bearing deposits saw a notable increase of 20.2% year-to-date, reflecting the bank's focus on enhancing deposit relationships amidst market uncertainties.

Earnings Overview: Hingham Institution for Savings reported a net income of $28.19 million for 2024, marking a 7% increase from the previous year, while core net income decreased by 15%. The bank's return on average equity was 6.68%, slightly up from 6.57% in 2023.

Balance Sheet and Operational Metrics: Total assets declined by 1% to $4.458 billion, with retail and business deposits growing by 7%. The efficiency ratio improved significantly to 52.30%, reflecting better operational management despite challenges from rising interest rates.

Financial Performance: Hingham Institution for Savings reported a net income of $5.846 million for Q3 2024, a significant increase from $3.297 million in Q3 2023, with diluted earnings per share rising to $2.66, up 77% year-over-year. However, net income for the first nine months of 2024 decreased by 16% compared to the same period last year.

Balance Sheet and Operational Metrics: The bank's total assets were $4.450 billion as of September 30, 2024, showing a slight decline year-to-date but a 2% increase from the previous year. Key operational metrics remained strong, with non-performing assets at 0.04% of total assets and an efficiency ratio improving to 62.19%.