Financial Data and Key Metrics Changes - The company reported earnings of $28.2 million for the previous year, which is an improvement compared to 2023 but still considered unsatisfactory relative to historical returns on equity, which have typically been in the low to mid-teens [53][57] - The return on shareholder equity has been lower in the last two years compared to historical averages, although it remains favorable compared to savings banks in Massachusetts [57][58] - The five-year compound annual growth rate (CAGR) in book value per share is 11.3%, which is high for the industry but comparatively low for the company [60] Business Line Data and Key Metrics Changes - The loan book did not grow last year and actually shrank slightly, with strong originations offset by significant payoffs in the construction and term books [66][79] - Checking deposits grew by 23% year-over-year, with an annualized growth rate of 30% in the first quarter of the current year [75][79] Market Data and Key Metrics Changes - The multifamily markets in Boston, Washington, and San Francisco are reported to be healthy, with low vacancy rates and steady rent growth, driven by supply constraints [81][82] - The company remains liability sensitive, with a focus on shorter-term rates falling, which could impact funding conditions [82] Company Strategy and Development Direction - The company aims to invest organically in the balance sheet and growth in loans and deposits, viewing this as the most attractive long-term return strategy [47][50] - The company has no plans for acquisitions, believing that they do not add value for owners or improve service to clients [51] Management's Comments on Operating Environment and Future Outlook - Management acknowledged the challenges posed by interest rate increases and yield curve inversion but emphasized the company's resilience and durability through historical challenges [29][30] - There is uncertainty regarding the impact of potential workforce reductions in the federal government on the economy, particularly in Washington, but current indicators show healthy rental increases and low vacancy rates [100][101] Other Important Information - The company has maintained a policy since 1993 of not making loans to insiders, viewing it as a way to eliminate risks associated with insider lending [106][112] - The company continues to focus on process improvement and eliminating waste as part of its operational strategy [84] Q&A Session All Questions and Answers Question: How does the federal workforce reduction impact the company? - Management discussed the uncertainty surrounding the federal workforce's future and its potential impact on the economy, particularly in multifamily housing demand, but noted that current indicators remain positive [100][101] Question: What are the company's thoughts on insider loans? - The company maintains a strict policy against insider loans, believing it is best to eliminate risks rather than mitigate them, and has confidence in the integrity of management teams at banks in which it invests [106][111]

HINGHAM, Mass., April 11, 2025 (GLOBE NEWSWIRE) -- HINGHAM INSTITUTION FOR SAVINGS (NASDAQ:HIFS), Hingham, Massachusetts announced results for the quarter ended March 31, 2025. Earnings Net income for the quarter ended March 31, 2025 was $7,124,000 or $3.27 per share basic and $3.24 per share diluted, as compared to $6,868,000 or $3.17 per share basic and $3.13 per share diluted for the same period last year. The Bank's annualized return on average equity for the first quarter of 2025 was 6.46%, and the ann ...

HINGHAM, Mass., Jan. 17, 2025 (GLOBE NEWSWIRE) -- HINGHAM INSTITUTION FOR SAVINGS (NASDAQ:HIFS), Hingham, Massachusetts announced earnings for the fourth quarter and the year ended December 31, 2024. Earnings Net income for the year ended December 31, 2024 was $28,191,000 or $12.95 per share basic and $12.85 per share diluted, as compared to $26,371,000 or $12.26 per share basic and $12.02 per share diluted for the same period last year. The Bank's return on average equity for the year ended December 31, 20 ...

HINGHAM, Mass., Nov. 25, 2024 (GLOBE NEWSWIRE) -- HINGHAM INSTITUTION FOR SAVINGS (NASDAQ:HIFS) (“the Bank”), Hingham, Massachusetts, announced that its Board of Directors has declared a regular quarterly cash dividend of $0.63 per share.   The dividend will be paid on January 15, 2025 to stockholders of record as of January 6, 2025. Robert H. Gaughen, Jr., Chairman and Chief Executive Officer of the Bank, in announcing the dividend, stated, “Returns on equity and assets in 2024 have been significantly lowe ...

HINGHAM, Mass., Oct. 11, 2024 (GLOBE NEWSWIRE) -- HINGHAM INSTITUTION FOR SAVINGS (NASDAQ: HIFS), Hingham, Massachusetts announced results for the quarter ended September 30, 2024. Earnings Net income for the quarter ended September 30, 2024 was $5,846,000 or $2.68 per share basic and $2.66 per share diluted, as compared to $3,297,000 or $1.53 per share basic and $1.50 per share diluted for the same period last year. The Bank's annualized return on average equity for the third quarter of 2024 was 5.52%, and ...

Earnings Core net income for the quarter ended June 30, 2024, which represents net income excluding the after-tax gains on equity securities, both realized and unrealized, was $2,181,000 or $1.00 per share basic and per share diluted, as compared to $4,046,000 or $1.88 per share basic and $1.85 per share diluted for the same period last year. The Bank's annualized core return on average equity for the second quarter of 2024 was 2.08% and the annualized core return on average assets was 0.20%, as compared to ...

HINGHAM, Mass., July 12, 2024 (GLOBE NEWSWIRE) -- HINGHAM INSTITUTION FOR SAVINGS (NASDAQ: HIFS), Hingham, Massachusetts, announced results for the quarter ended June 30, 2024. Core net income for the quarter ended June 30, 2024, which represents net income excluding the after-tax gains on equity securities, both realized and unrealized, was $2,181,000 or $1.00 per share basic and per share diluted, as compared to $4,046,000 or $1.88 per share basic and $1.85 per share diluted for the same period last year. ...

Pgiam Investment Thesis Hingham Institution for Savings (NASDAQ:HIFS) is in my opinion one of the finest financial establishments in the U.S. The bank has outstanding asset quality thanks to a laser focused approach to risk management and mitigation. The bank has also historically been one of the best performing financial institutions in the U.S. with 5Y average returns handily outperforming industry giants like Bank of America (BAC). While profitability has taken a hit over the last two years, I believ ...

HINGHAM, Mass., April 12, 2024 (GLOBE NEWSWIRE) -- HINGHAM INSTITUTION FOR SAVINGS (NASDAQ:HIFS), Hingham, Massachusetts announced results for the quarter ended March 31, 2024. Earnings Net income for the quarter ended March 31, 2024 was $6,868,000 or $3.17 per share basic and $3.13 per share diluted, as compared to $8,510,000 or $3.96 per share basic and $3.87 per share diluted for the same period last year. The Bank's annualized return on average equity for the first quarter of 2024 was 6.63%, and the ann ...