Welcome to our dedicated page for Hingham Inst news (Ticker: HIFS), a resource for investors and traders seeking the latest updates and insights on Hingham Inst stock.
Hingham Institution for Savings (HIFS) maintains this centralized news hub for investors and stakeholders tracking this Massachusetts-based regional bank. Our curated collection features official press releases, financial disclosures, and market developments related to HIFS' core operations in residential/commercial mortgage lending and community banking services.
Key resources include: Quarterly earnings announcements, regulatory filings with the FDIC and SEC, leadership updates, and product/service expansions. This repository serves as a vital tool for monitoring the bank's strategic initiatives in New England's competitive financial landscape.
Bookmark this page for direct access to HIFS' latest corporate communications, including commercial real estate financing developments, deposit product enhancements, and risk management practices. All content is sourced from official channels to ensure accuracy and compliance with financial reporting standards.
HINGHAM INSTITUTION FOR SAVINGS (NASDAQ: HIFS) reported earnings for Q1 2023, revealing a net income of $8.51 million ($3.96 per share basic), down from $11.86 million ($5.54 per share) a year ago. The annualized return on average equity decreased to 8.67%, compared to 13.10% in Q1 2022. Core net income also fell sharply by 62%, totaling $5.74 million or $2.61 per diluted share. Despite a total asset increase to $4.206 billion (15% growth year-over-year), net interest margin dropped significantly to 1.46% from 3.30% last year. The Bank maintained a solid book value per share of $182.89 and declared a dividend of $0.63 per share, marking its 117th consecutive quarterly dividend. The challenges stem from rising interest rates affecting margins and net income.
HINGHAM INSTITUTION FOR SAVINGS (NASDAQ: HIFS) reported a net income of $37.52 million or $17.49 per share for the year ended December 31, 2022, down 44% from $67.46 million or $31.50 per share in 2021. Core net income was $54.57 million or $24.78 per share, a 4% decrease from the previous year. Total assets grew 22% to $4.19 billion, with net loans increasing by 22% to $3.66 billion. Total deposits rose 5% to $2.51 billion. The bank’s net interest margin decreased, reflecting higher funding costs amid rising interest rates. In dividend activity, the bank declared $3.03 per share in dividends since December 2021, including a special dividend of $0.63.
HINGHAM INSTITUTION FOR SAVINGS (NASDAQ: HIFS) reported a net income of $10.5 million, or $4.77 per diluted share for Q3 2022, down from $14 million or $6.36 per diluted share in Q3 2021. The annualized return on average equity fell to 11.07% from 16.57% a year earlier. Core net income increased 3% year-over-year to $14.5 million, translating to $6.58 per diluted share. Total assets grew 25% year-to-date, reaching $4.06 billion. The board declared a quarterly dividend of $0.61, marking a 3% increase. Net interest margin decreased to 2.76%, reflecting challenges in interest rates.
Hingham Institution for Savings (NASDAQ: HIFS) reported a net income of $3.19 million, or $1.49 per share, for Q2 2022, a drastic decline from $20.42 million, or $9.54 per share, in Q2 2021. Core net income rose by 11% to $15.26 million, or $6.93 per share. Total assets reached $3.996 billion, up 33% year-to-date. The Bank's annualized return on average equity fell to 3.43%, while net interest margin decreased to 3.21%. The Board declared a quarterly dividend of $0.59 per share, marking the 114th consecutive dividend. HIFS aims for disciplined growth amid interest margin pressures.
Hingham Institution for Savings (HIFS) reported Q1 2022 net income of $11.86 million ($5.54 per share), down 27% YoY from $16.35 million ($7.65 per share). Core net income rose 10% to $15.11 million ($6.85 diluted), exceeding last year's $13.73 million. Total assets grew 25% year-to-date to $3.65 billion, with net loans increasing 24% to $3.18 billion. The net interest margin decreased to 3.30%. The bank declared a quarterly dividend of $0.57, marking its 113th consecutive payout. Annualized return on average equity is now 13.10%, down from 21.72% last year.
HINGHAM INSTITUTION FOR SAVINGS (NASDAQ: HIFS) reported strong financial results for the fourth quarter and year ended December 31, 2021. Net income rose to $67.46 million ($31.50 per share) from $50.77 million ($23.76 per share) in 2020. The return on average equity improved to 20.62%, and total assets grew by 20% to $3.43 billion. Core net income also increased 26% year-over-year. Despite a quarterly decline in net income, increased dividends and robust loan growth in commercial real estate indicate positive business momentum.
Hingham Institution for Savings (NASDAQ: HIFS) announced the passing of former Director and Clerk, Marion Fahey, who died at the age of 97. Fahey served as a Director from 1992 to 2015, playing a key role in maintaining the bank's independence and benefiting its community. She also held significant positions at East Weymouth Savings Bank and served as Superintendent of Schools for the City of Boston, contributing to the desegregation of its public school system. Her guidance impacted three generations of the Gaughen family at Hingham.
HINGHAM INSTITUTION FOR SAVINGS (NASDAQ:HIFS) has declared a regular quarterly cash dividend of $0.55 per share, marking a 4% increase from the prior dividend of $0.53. Additionally, a special dividend of $0.75 per share will also be paid. Both dividends are scheduled for January 12, 2022, to stockholders of record as of January 3, 2022. This represents the Bank's 112th consecutive quarterly dividend, maintaining a tradition of increasing dividends over the past 26 years and declaring special dividends for 27 years.
HINGHAM INSTITUTION FOR SAVINGS (NASDAQ: HIFS) reported its third-quarter earnings for 2021, revealing a net income of $14 million, or $6.54 per share diluted, a decrease from $15.2 million and $6.96 per share diluted in Q3 2020. Core net income rose by 12% to $14 million, with diluted earnings increasing 30% over the past nine months. The bank's total assets grew to $3.165 billion, while deposits increased by 17%. The dividend per share rose by 4% to $0.53, marking its 111th consecutive quarterly dividend. However, annualized returns on equity and assets fell compared to 2020.
Hingham Institution for Savings (NASDAQ: HIFS) reported strong financial results for Q2 2021. Net income reached $20.42 million, a 25.7% increase from Q2 2020, translating to $9.54 per share. Year-to-date net income rose 97% to $36.77 million. The bank's net interest margin improved to 3.46%, and total assets increased by 8% to $2.974 billion, with net loans growing 11% to $2.63 billion. The efficiency ratio improved to 21.37%, reflecting expense management. A regular cash dividend of $0.51 per share was declared, marking the 110th consecutive quarterly dividend.
