Hingham Institution for Savings (HIFS) Income Statement

30Y historyFree accessUpdated daily

Despite a 38% year-over-year increase in net interest income to $22.1 million in 2026Q1, the bank's profitability remains constrained by a suppressed 0.5% net interest margin.

Annual statement

HIFS Income Statement

Hingham Institution for Savings (HIFS) annual income statement — 30-year revenue, gross profit & net income history

Annual Quarterly

Metric	TTM	Dec'25	Dec'24	Dec'23	Dec'22	Dec'21	Dec'20	Dec'19	Dec'18	Dec'17	Dec'16	Dec'15	Dec'14	Dec'13	Dec'12	Dec'11	Dec'10	Dec'09	Dec'08	Dec'07	Dec'06	Dec'05	Dec'04	Dec'03	Dec'02	Dec'01	Dec'00	Dec'99	Dec'98	Dec'97	Dec'96

Net Interest Income	80.5M	74.41M	44.37M	48.3M	106.13M	102.47M	85.2M	66.9M	65.78M	63.8M	58.38M	50.95M	46.26M	38.84M	37.89M	35.83M	31.73M	27.2M	21.33M	16.03M	15.88M	18.03M	17M	16.52M	15.38M	13.47M	11.84M	10.29M	8.9M	8.2M	7M
NII Growth %	236.63%	67.68%	-8.13%	-54.49%	3.58%	20.26%	27.36%	1.7%	3.11%	9.27%	14.59%	10.14%	19.1%	2.5%	5.77%	12.92%	16.65%	27.52%	33.07%	0.95%	-11.94%	6.07%	2.87%	7.44%	14.17%	13.76%	15.06%	15.63%	8.54%	17.14%	12.9%
Net Interest Margin %	1.77%	1.64%	1%	1.08%	2.53%	2.99%	2.98%	2.58%	2.73%	2.79%	2.9%	2.88%	2.98%	2.86%	3.14%	3.18%	3.12%	2.94%	2.65%	2.15%	2.3%	2.87%	3.11%	3.41%	3.61%	3.49%	3.5%	3.53%	3.42%	3.68%	3.47%
Interest Income	208.82M	206.83M	195.9M	174.26M	139.03M	110.49M	106.36M	106.95M	94.17M	81.06M	71.77M	61.86M	56.19M	49.34M	48.83M	48.44M	46.83M	44.8M	43.31M	42.1M	37.09M	30.42M	26.15M	25.56M	25.8M	26.04M	23.9M	20.26M	18.2M	16.4M	14M
Interest Expense	128.32M	132.43M	151.52M	125.96M	32.89M	8.03M	21.16M	40.05M	28.38M	17.26M	13.38M	10.91M	9.94M	10.5M	10.94M	12.62M	15.1M	17.6M	21.98M	26.07M	21.21M	12.39M	9.15M	9.04M	10.42M	12.57M	12.11M	9.97M	9.3M	8.2M	7M
Loan Loss Provision	1.23M	1.02M	328K	1.12M	4.51M	3.03M	2.29M	1.57M	1.27M	1.5M	1.14M	625K	625K	380K	725K	1.1M	1.3M	1.7M	805K	322K	287K	244K	80K	182K	200K	240K	284K	200K	200K	200K	100K
Non-Interest Income	18.69M	29.92M	21.48M	16.26M	-20.72M	12.97M	8.97M	8.83M	-1.74M	1.41M	1.74M	1.48M	7.86M	1.6M	1.64M	1.7M	1.63M	2.01M	1.66M	1.71M	1.69M	1.6M	1.56M	1.75M	1.61M	1.02M	907K	734K	700K	600K	600K
Non-Interest Income %	18.84%	28.68%	32.62%	25.18%	-24.26%	11.24%	9.53%	11.66%	-2.71%	2.16%	2.89%	2.83%	14.53%	3.97%	4.14%	4.53%	4.88%	6.88%	7.24%	9.63%	9.64%	8.14%	8.43%	9.59%	9.46%	7.07%	7.11%	6.66%	7.29%	6.82%	7.89%
Total Net Revenue	99.19M	104.33M	65.85M	64.56M	85.42M	115.44M	94.18M	75.73M	64.05M	65.21M	60.12M	52.43M	54.12M	40.44M	39.53M	37.53M	33.35M	29.21M	22.99M	17.74M	17.57M	19.63M	18.56M	18.28M	16.98M	14.49M	12.75M	11.03M	9.6M	8.8M	7.6M
Revenue Growth %	45.69%	58.43%	2%	-24.41%	-26.01%	22.57%	24.36%	18.24%	-1.78%	8.46%	14.66%	-3.12%	33.81%	2.31%	5.35%	12.51%	14.2%	27.03%	29.64%	0.94%	-10.48%	5.74%	1.56%	7.6%	17.18%	13.7%	15.63%	14.84%	9.09%	15.79%	13.43%
Non-Interest Expense	30.83M	30.55M	29.01M	28.21M	26.59M	19.74M	21.76M	20.61M	20.05M	19.58M	19.21M	19.03M	20.09M	17.45M	16.41M	16.09M	14.98M	14.37M	12.12M	10.59M	10.12M	9.52M	9.19M	8.32M	7.71M	6.57M	6.07M	5.54M	4.6M	4.3M	4.1M
Efficiency Ratio	31.08%	29.28%	44.05%	43.7%	31.13%	17.1%	23.11%	27.22%	31.31%	30.02%	31.96%	36.3%	37.12%	43.15%	41.5%	42.88%	44.91%	49.2%	52.72%	59.69%	57.58%	48.5%	49.48%	45.55%	45.42%	45.31%	47.6%	50.25%	47.92%	48.86%	53.95%
Operating Income	67.16M	72.78M	36.52M	35.19M	54.31M	92.67M	70.13M	53.55M	42.73M	44.13M	39.77M	32.78M	33.41M	22.61M	22.4M	20.34M	17.08M	13.14M	10.06M	6.83M	7.17M	9.86M	9.3M	9.77M	9.07M	7.69M	6.35M	5.29M	4.8M	4.3M	3.4M
Operating Margin %	67.7%	69.76%	55.45%	54.5%	63.59%	80.28%	74.47%	70.71%	66.71%	67.67%	66.15%	62.51%	61.73%	55.91%	56.67%	54.19%	51.2%	44.98%	43.77%	38.49%	40.79%	50.25%	50.09%	53.45%	53.4%	53.04%	49.79%	47.94%	50%	48.86%	44.74%
Operating Income Growth %	-	99.32%	3.78%	-35.22%	-41.39%	32.14%	30.97%	25.32%	-3.17%	10.96%	21.34%	-1.89%	47.74%	0.94%	10.16%	19.09%	29.99%	30.51%	47.43%	-4.74%	-27.33%	6.09%	-4.83%	7.71%	17.98%	21.13%	20.09%	10.1%	11.63%	26.47%	17.24%
Pretax Income	67.16M	72.78M	36.52M	35.23M	54.31M	92.67M	70.13M	53.55M	42.73M	44.13M	39.77M	32.78M	33.41M	22.61M	22.4M	20.34M	17.08M	13.14M	10.06M	6.83M	7.17M	9.86M	9.3M	9.77M	9.07M	7.69M	6.35M	5.29M	4.8M	4.3M	3.4M
Pretax Margin %	67.7%	69.76%	55.45%	54.57%	63.59%	80.28%	74.47%	70.71%	66.71%	67.67%	66.15%	62.51%	61.73%	55.91%	56.67%	54.19%	51.2%	44.98%	43.77%	38.49%	40.79%	50.25%	50.09%	53.45%	53.4%	53.04%	49.79%	47.94%	50%	48.86%	44.74%
Income Tax	16.88M	18.23M	8.32M	8.86M	16.8M	25.21M	19.36M	14.62M	12.33M	18.37M	16.35M	13.43M	11.14M	9.24M	9.11M	8.27M	6.85M	5.09M	3.78M	2.34M	2.53M	3.69M	3.47M	4.42M	3.09M	2.6M	2.12M	2.04M	1.8M	1.6M	1.4M
Effective Tax Rate %	25.13%	25.05%	22.8%	25.15%	30.92%	27.21%	27.6%	27.3%	28.86%	41.63%	41.1%	40.98%	33.35%	40.87%	40.67%	40.68%	40.1%	38.76%	37.56%	34.23%	35.26%	37.43%	37.36%	45.19%	34.07%	33.81%	33.4%	38.58%	37.5%	37.21%	41.18%
Net Income	50.28M	54.55M	28.19M	26.37M	37.52M	67.46M	50.77M	38.93M	30.4M	25.76M	23.42M	19.35M	22.26M	13.37M	13.29M	12.06M	10.23M	8.04M	6.29M	4.49M	4.64M	6.17M	5.82M	5.35M	5.98M	5.09M	4.23M	3.25M	3M	2.7M	2M
Net Margin %	50.69%	52.29%	42.81%	40.85%	43.93%	58.44%	53.91%	51.4%	47.46%	39.5%	38.96%	36.9%	41.14%	33.06%	33.62%	32.14%	30.66%	27.54%	27.33%	25.32%	26.41%	31.44%	31.38%	29.3%	35.21%	35.11%	33.16%	29.44%	31.25%	30.68%	26.32%
Net Income Growth %	76.74%	93.51%	6.9%	-29.71%	-44.38%	32.87%	30.43%	28.05%	18.02%	9.96%	21.07%	-13.11%	66.51%	0.61%	10.18%	17.93%	27.13%	28%	39.98%	-3.23%	-24.81%	5.96%	8.78%	-10.47%	17.51%	20.39%	30.22%	8.2%	11.11%	35%	5.26%
Net Income (Continuing)	50.28M	54.55M	28.19M	26.37M	37.52M	67.46M	50.77M	38.93M	30.4M	25.76M	23.42M	19.35M	22.26M	13.37M	13.29M	12.06M	10.23M	8.04M	6.29M	4.49M	4.64M	6.17M	5.82M	5.35M	5.98M	5.09M	4.23M	3.25M	3M	2.7M	2M
EPS (Diluted)	22.76	24.76	12.85	12.03	17.04	30.65	23.26	17.83	13.90	11.81	10.89	9.02	10.44	6.28	6.25	5.67	4.81	3.79	2.96	2.12	2.19	2.92	2.77	2.56	2.87	2.46	2.06	1.62	1.49	1.33	1.04
EPS Growth %	76%	92.68%	6.82%	-29.4%	-44.4%	31.77%	30.45%	28.27%	17.7%	8.45%	20.73%	-13.6%	66.24%	0.48%	10.23%	17.88%	26.91%	28.04%	39.62%	-3.2%	-25%	5.42%	8.2%	-10.8%	16.67%	19.42%	27.16%	8.72%	12.03%	27.88%	7.22%
EPS (Basic)	-	25.01	12.95	12.26	17.49	31.51	23.76	18.24	14.25	12.08	10.99	9.09	10.46	6.28	6.25	5.68	4.81	3.79	2.96	2.12	2.19	2.95	2.80	2.58	2.91	2.49	2.07	1.65	1.53	1.36	1.05
Diluted Shares Outstanding	2.21M	2.21M	2.19M	2.19M	2.2M	2.2M	2.18M	2.18M	2.19M	2.18M	2.15M	2.15M	2.13M	2.13M	2.13M	2.13M	2.13M	2.12M	2.12M	2.12M	2.12M	2.11M	2.1M	2.1M	2.08M	2.07M	2.04M	2.01M	2.01M	2.03M	1.92M

Key Metrics

Growth RegimeMixed

ProfitabilityStrained

Balance SheetVulnerable

Cash FlowMixed

Top Statement Risk

CRE concentration and funding costs

Net Interest Income Growth Divergence

According to quarterly financial data, Hingham's net interest income reached $22.1 million in 2026Q1, reflecting a 38% year-over-year increase, yet this growth appears increasingly decoupled from the bank's underlying ability to manage rising deposit costs in a competitive interest rate environment.

The recent expansion in NII suggests that volume growth in the commercial real estate portfolio is currently offsetting the compression in net interest margins. However, investors should monitor whether this trajectory is sustainable, as the reliance on interest-bearing liabilities may continue to erode the net benefit of new loan originations.

Persistent Net Interest Margin Compression

As reported in recent filings, Hingham's net interest margin has remained suppressed at 0.5% as of 2026Q1, indicating that the bank's liability-sensitive balance sheet is struggling to maintain profitability amidst the ongoing repricing of its deposit base relative to fixed-rate assets.

The margin profile suggests that the bank's historical reliance on low-cost funding has been challenged by the current rate cycle. This persistent compression warrants further investigation into the bank's deposit beta assumptions and the potential for long-term structural impairment of its spread-capture business model.

Operational Efficiency Remains Industry Outlier

Based on the provided income statement data, Hingham maintained an efficiency ratio of 18.4% in 2026Q1, which continues to demonstrate the bank's structural advantage in managing non-interest expenses compared to traditional regional peers with more labor-intensive branch-based operating models.

While the efficiency ratio remains exceptionally low, the recent uptick from the 12-14% range suggests that inflationary pressures or increased administrative requirements may be beginning to impact the firm's lean operating posture. Maintaining this discipline is critical, as any further degradation could significantly impact the bank's ability to absorb credit-related volatility.

Equity Portfolio Volatility Masks Earnings

Financial statements indicate that Hingham's non-interest income swung to a negative $9.7 million in 2026Q1, a development that appears largely driven by the mark-to-market volatility of its equity securities portfolio rather than core operational performance or fee-based service revenue.

This volatility complicates the assessment of true earnings quality, as GAAP net income is frequently distorted by these unrealized gains and losses. Investors should focus on core pre-provision net revenue to better understand the underlying health of the lending business, as the equity portfolio introduces a layer of market risk that is independent of the bank's core CRE lending activities.

HIFS — Frequently Asked Questions

Quick answers to the most common questions about buying HIFS stock.

What was Hingham Institution for Savings's (HIFS) revenue in 2025?

For fiscal year 2025, Hingham Institution for Savings (HIFS) reported total revenue of $104.3M. This represents a 1272.8% increase compared to $7.6M in 1996.

Is Hingham Institution for Savings (HIFS) profitable?

Hingham Institution for Savings (HIFS) is profitable, generating $54.6M in net income for the fiscal year ending 2025 with a net profit margin of 23.0%.

What is Hingham Institution for Savings's operating profit margin?

Hingham Institution for Savings (HIFS) reported an operating income of $72.8M, resulting in an operating profit margin of 30.7%. This margin reflects the operational efficiency of the business before interest and taxes.

What is Hingham Institution for Savings's gross profit and gross margin?

Hingham Institution for Savings (HIFS) generated $103.3M in gross profit for the year, representing a gross profit margin of 43.6%. This demonstrates the company's core pricing power and production efficiency.