Hingham Institution for Savings
NASDAQ Global MarketCapital Structure
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in mil. unless spec.Working Capital
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in mil. unless spec.Growth Rates
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in mil. unless spec.Quarterly Revenue
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in mil. unless spec.- CEO
- Robert H. Gaughen Jr.
- Full Time Employees
- 87
- Sector
- Financial Services
- Industry
- Banks - Regional
- Address
- 55 Main Street Hingham MA United States of America 02043
- IPO Date
- Dec 14, 1988
- Website
- hinghamsavings.com
- Similar Companies
- Business
- Hingham Institution for Savings (HIFS) operates as a publicly traded savings bank focused on commercial real estate lending, residential mortgages, and relationship-based deposit services for individuals, families, businesses, nonprofits, property managers, and institutions. Incorporated in 1834 and headquartered in Hingham, Massachusetts, the bank offers checking, savings, money market, and certificate of deposit accounts; commercial mortgage loans secured primarily by multifamily properties; residential real estate loans including jumbo fixed- and adjustable-rate mortgages; construction loans; home equity lines; commercial business loans; consumer loans; cash management solutions; debit cards; ATMs; and digital banking platforms such as online banking, mobile deposit, ACH, and wire transfers. It serves customers through offices in Hingham, Boston, and Nantucket in Massachusetts; Washington, D.C.; and San Francisco, California, with a portfolio exceeding $3.8 billion in net loans and total assets of approximately $4.46 billion as of year-end 2024. The bank maintains a conservative underwriting culture with zero commercial lending losses over the past decade and emphasizes operational efficiency, achieving a 63.79% efficiency ratio in 2024 despite yield curve challenges. Recent developments include 17% growth in non-interest-bearing deposits through its Specialized Deposit Group, addition of relationship managers and operational specialists in San Francisco and Washington, D.C., recruitment of a local commercial real estate lender in San Francisco, expansion of its Washington loan portfolio beyond $1.2 billion, origination of approximately $550 million in affordable housing and community development loans over three years, increased equity investments to 24% of shareholders' equity focused on finance and technology sectors, and strategic adjustments such as FHLB option advances and loan rate reset modifications for rate-shock protection.
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