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 annualized return on average assets was 0.64%, as compared to 6.63% and 0.63% for the same period last year. Net income per share (diluted) for the first quarter of 2025 increased by 3.5% compared to the same period in 2024.
Core net income for the quarter ended March 31, 2025, which represents net income excluding the after-tax net gain on equity securities, both realized and unrealized, was $6,125,000 or $2.81 per share basic and $2.78 per share diluted, as compared to $2,213,000 or $1.02 per share basic and $1.01 per share diluted for the same period last year. The Bank's annualized core return on average equity for the first quarter of 2025 was 5.56% and the annualized core return on average assets was 0.55%, as compared to 2.14% and 0.20% for the same period last year. Core net income per share (diluted) for the first quarter of 2025 increased by 175.2% compared to the same period in 2024.
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