Hingham Institution for Savings (HIFS) Q1 2026 earnings summary

Executive summary

• Net income for Q1 2026 was $2.85M ($1.29 diluted EPS), down 60.2% year-over-year, while core net income rose 72.3% to $10.58M ($4.79 diluted EPS), reflecting exclusion of equity securities losses.

• Annualized return on average equity was 2.33% (GAAP) and 8.66% (core), compared to 6.46% and 5.56% last year.

• Total assets grew 0.5% year-over-year to $4.55B; book value per share increased 9.7% to $220.06.

Financial highlights

• Net interest margin improved to 2.04% from 1.50% year-over-year and 1.89% sequentially.

• Retail and commercial deposits rose 1.8% year-over-year to $2.10B; non-interest-bearing deposits up 20.2% to $513.6M.

• Net loans declined 0.7% year-over-year to $3.90B.

• Wholesale funds fell 3.3% year-over-year to $1.91B.

• Efficiency ratio improved to 34.87% from 45.82% year-over-year.

Outlook and guidance

• Management expects continued focus on deposit growth, cost control, and operational leverage.

• Ongoing capital allocation will prioritize organic growth, special dividends, and potential share repurchases.