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HINGHAM, Mass., Dec. 05, 2025 (GLOBE NEWSWIRE) -- HINGHAM INSTITUTION FOR SAVINGS (NASDAQ:HIFS) (“the Bank”), Hingham, Massachusetts, announced that its Board of Directors has authorized a share repurchase program (“the Program”) pursuant to which the Bank may repurchase up to $20 million of its outstanding common stock, having received all regulatory approvals as may be required. Under the Program, repurchases can be made from time to time using a variety of methods, which may include open market purchases ...

Core Insights - Regional banks, including Hingham Institution for Savings (HIFS), have faced significant challenges in recent years but are beginning to show signs of recovery as macroeconomic conditions improve [1] Company Summary - Hingham Institution for Savings has been particularly affected by the adverse conditions in the banking sector but has successfully adapted to the evolving economic landscape [1]

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Core Points - Hingham Institution for Savings has declared a regular quarterly dividend of $0.63 per share, payable on January 14, 2026, to stockholders of record as of January 5, 2026 [1] - The Bank will also pay a special dividend of $0.70 per share on the same date, marking the 128th consecutive quarterly dividend [2] - The Bank has a history of declaring special cash dividends, typically in the fourth quarter, but did not do so in 2023 or 2024 [2] - The level of special dividends is determined by the Bank's capital requirements and potential returns from other capital allocation options [2] - The Board of Directors will consider all capital allocation options, including future dividends and share repurchases, on a quarterly basis [3] - Hingham Institution for Savings, incorporated in 1834, is one of the oldest banks in America with offices in multiple locations including Boston and San Francisco [3]

Core Insights - Hingham Institution for Savings (HIFS) has not provided significant returns to shareholders over the last three years, with its stock price currently similar to that of September 2022 [1] Company Performance - The stock of HIFS is trading at a price comparable to its value from September 2022, indicating a lack of growth or appreciation in value over the past year [1] Market Perspective - The financial markets are viewed as efficient, with most stocks reflecting their true current value, suggesting that HIFS may not be accurately reflecting the opportunities available in its market [1]

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Core Insights - Hingham Institution for Savings reported significant growth in net income for the third quarter of 2025, reaching $17.295 million or $7.93 per share basic, a 195.1% increase compared to the same period last year [2][3] - The bank's total assets increased to $4.531 billion, reflecting a 2.2% annualized growth year-to-date and a 1.8% increase from the previous year [7] - The bank's focus on non-interest-bearing deposits has shown positive results, with these deposits growing by 20.8% year-over-year [9][10] Financial Performance - Net income for the nine months ended September 30, 2025, was $33.833 million, or $15.51 per share basic, compared to $16.816 million or $7.73 per share basic for the same period last year, marking a 100.4% increase [4] - Core net income for the same period was $22.087 million, or $10.13 per share basic, up 190.7% from $7.558 million or $3.47 per share basic in 2024 [5] - The annualized return on average equity for the third quarter of 2025 was 15.15%, significantly higher than 5.52% for the same period last year [2][25] Balance Sheet Highlights - Net loans increased to $3.914 billion, representing a 1.4% annualized growth year-to-date and a 1.3% increase from the previous year [8] - Retail and commercial deposits totaled $1.991 billion, showing a 0.4% annualized decline year-to-date but a 0.7% increase from the previous year [9] - The bank's book value per share rose to $211.67, reflecting a 9.2% annualized growth year-to-date [14] Operational Metrics - The net interest margin for the third quarter of 2025 increased to 1.74%, up from 1.66% in the previous quarter [17] - The efficiency ratio improved to 38.26% for the third quarter of 2025, down from 62.19% for the same period last year [20][25] - Non-performing assets as a percentage of total assets were 0.71%, compared to 0.04% at the end of 2024 [18][19] Dividend Information - The bank declared a regular cash dividend of $0.63 per share, marking its 127th consecutive quarterly dividend [15] - The total dividends declared since September 30, 2024, amounted to $2.52 per share [14]

Group 1 - Hingham Institution for Savings (NASDAQ: HIFS) has a notable history and has provided investors with a compound annual growth rate since the leadership transition to the Gaughen family in 1993 [1] - TQP Research employs a value-oriented investment strategy, focusing on identifying businesses that align with long-term success principles taught by renowned investors such as Warren Buffett and Charlie Munger [1] - The investment topics covered by TQP Research include market analysis, macroeconomic trends, large-cap blue chip companies, and undervalued micro-cap and small-cap stocks [1]

Core Financial Performance - Net income for the quarter ended June 30, 2025, was $9,414,000 or $4.32 per share basic and $4.28 per share diluted, representing a significant increase from $4,102,000 or $1.88 per share for the same period last year, marking a 127.7% increase in diluted net income per share [2][3] - Core net income for the same quarter was $7,453,000 or $3.42 per share basic and $3.39 per share diluted, compared to $2,181,000 or $1.00 per share for the same period last year, reflecting a 239.0% increase in diluted core net income per share [3] - For the six months ended June 30, 2025, net income was $16,538,000 or $7.58 per share basic and $7.52 per share diluted, up from $10,970,000 or $5.04 per share for the same period last year, indicating a 50.1% increase in diluted net income per share [4] Balance Sheet Highlights - Total assets increased to $4.539 billion at June 30, 2025, representing a 3.7% annualized growth year-to-date and a 0.4% increase from June 30, 2024 [7] - Net loans stood at $3.932 billion at June 30, 2025, reflecting a 3.0% annualized growth year-to-date and stable compared to June 30, 2024 [7] - Retail and commercial deposits were $1.998 billion at June 30, 2025, flat year-to-date but representing a 4.0% growth from June 30, 2024 [8] Operational Efficiency - The efficiency ratio improved to 41.17% for the second quarter of 2025, down from 68.57% for the same period last year, indicating enhanced operational efficiency [17] - Operating expenses as a percentage of average assets were stable at 0.68% for the second quarter of 2025, consistent with the prior quarter and slightly up from 0.67% for the same period last year [17] - The net interest margin increased to 1.66% for the quarter ended June 30, 2025, up from 1.50% in the previous quarter, marking the fifth consecutive quarter of expansion [14] Credit Quality - Non-performing assets totaled 0.70% of total assets as of June 30, 2025, compared to 0.04% at both December 31, 2024, and June 30, 2024 [15] - Non-performing loans as a percentage of the total loan portfolio were 0.81% at June 30, 2025, up from 0.04% at both December 31, 2024, and June 30, 2024 [15] - The Bank did not record any charge-offs in the first six months of 2025 or 2024, indicating stable credit quality [15] Shareholder Returns - Book value per share was $204.36 as of June 30, 2025, representing a 6.4% annualized growth year-to-date and a 6.8% increase from June 30, 2024 [12] - The Bank declared a regular cash dividend of $0.63 per share on June 25, 2025, marking the 126th consecutive quarterly dividend [12] - The Bank has a history of declaring special cash dividends, although none were declared in 2023 and 2024, with future dividends to be considered quarterly by the Board of Directors [13]