Hingham Reports Second Quarter 2026 Results

Hingham Institution for Savings (NASDAQ: HIFS) announced results for the quarter ended June 30, 2026. Earnings Net income for the quarter ended June 30, 2026 was $25,443,000 or $11.59 per share basic and $11.49 per share diluted, as compared to $9,414,000 or $4.32 per share basic and $4.28 per share diluted for the same period last year. The Bank’s annualized return on average equity for the second quarter of 2026 was 20.38%, and the annualized return on average assets was 2.25%, as compared to 8.43% and 0.85% for the same period last year. Net income per share (diluted) for the second quarter of 2026 increased by 168.5% compared to the same period in 2025. Core net income for the quarter ended June 30, 2026, which represents net income excluding the after-tax net gain on equity securities, both realized and unrealized, was $10,668,000 or $4.86 per share basic and $4.82 per share diluted, as compared to $7,453,000 or $3.42 per share basic and $3.39 per share diluted for the same period last year. The Bank’s annualized core return on average equity for the second quarter of 2026 was 8.55% and the annualized core return on average assets was 0.94%, as compared to 6.67% and 0.67% for the same period last year. Core net income per share (diluted) for the second quarter of 2026 increased by 42.2% compared to the same period in 2025. Net income for the six months ended June 30, 2026 was $28,294,000 or $12.92 per share basic and $12.80 per share diluted, as compared to $16,538,000 or $7.58 per share basic and $7.52 per share diluted for the same period last year. The Bank’s annualized return on average equity for the first six months of 2026 was 11.45%, and the annualized return on average assets was 1.25%, as compared to 7.45% and 0.75% for the same period in 2025. Net income per share (diluted) for the first six months of 2026 increased by 70.2% over the same period in 2025. Core net income for the six months ended June 30, 2026, which represents net income excluding the after-tax net gain on equity securities, both realized and unrealized, was $21,252,000 or $9.70 per share basic and $9.61 per share diluted, as compared to $13,578,000 or $6.23 per share basic and $6.17 per share diluted for the same period last year. The Bank’s annualized core return on average equity for the first six months of 2026 was 8.60%, and the annualized core return on average assets was 0.94%, as compared to 6.12% and 0.61% for the same period in 2025. Core net income per share (diluted) for the first six months of 2026 increased by 55.8% over the same period in 2025. See Page 11 for a reconciliation between United States Generally Accepted Accounting Principles (“GAAP”) net income and non-GAAP core net income. Under changes made to GAAP effective in 2018, gains and losses on equity securities, net of tax, realized and unrealized, are recognized in the Consolidated Statements of Income. In calculating core net income, the Bank did not make any adjustments other than those relating to the after-tax net gain on equity securities, both realized and unrealized. Balance Sheet Total assets increased to $4.557 billion at June 30, 2026, representing 0.6% annualized growth year-to-date and a 0.4% increase from June 30, 2025. Net loans increased to $3.904 billion at June 30, 2026, representing 0.3% annualized growth year-to-date and a 0.7% decline from June 30, 2025. Retail and commercial deposits were $2.084 billion at June 30, 2026, representing 2.7% annualized growth year-to-date and a 4.3% increase from June 30, 2025. Non-interest-bearing deposits, included in retail and commercial deposits, were $504.2 million at June 30, 2026, representing 15.6% annualized growth year-to-da...