Hingham Savings Ranked #1 Thrift in the East, #2 in the Country for the 2nd Consecutive Year
May 11 2015 - 12:03PM
HINGHAM INSTITUTION FOR SAVINGS (Nasdaq:HIFS), Hingham,
Massachusetts announced that for the second consecutive year, the
Bank was ranked as the #1 thrift in the East and the #2 thrift in
the nation by SNL Financial in that company's Top 100 Public Thrift
rankings. The rankings were based on six financial metrics for the
year ended December 31, 2014, including return on average assets,
return on average tangible common equity, efficiency ratio, median
three-year growth rate in tangible book value per share,
nonperforming loans to total loans (NPLs/loans), and net
charge-offs to average loans. The Bank narrowly missed a #1
national ranking in 2014.
The Bank was also ranked #1 in the Northeast and #6 nationally
for 2014 by American Banker Magazine, in an annual list of the 200
most profitable publicly-traded community banks and thrifts. The
American Banker Magazine rankings were based on three-year average
return on equity (ROE), a key measure of long-term value creation
for shareholders.
The Bank has received additional industry accolades for its 2014
performance; for a third year, Keefe, Bruyette & Woods included
the Bank on the "2014 Bank Honor Roll", representing a group of 25
publicly-traded banking institutions selected from nearly 400
candidates for superior performance. Sandler O'Neill + Partners
also included the Bank on its 2014 SM-All Stars List. This annual
list recognizes high-performing small-cap banks and thrifts across
the country.
President Robert H. Gaughen Jr. stated, "We were pleased with
the recognition from SNL Financial and American Banker Magazine for
our performance in 2014. At Hingham, we take our role as stewards
of the shareholders' capital seriously. We remain focused on
long-term compounding of shareholder capital through conservative
underwriting, careful capital allocation, and measured
growth. More important than performance in any one year,
however, is our record of performance over time. Our commitment to
long-term value creation is reflected in our top ranking by SNL
Financial for nearly a decade."
Hingham Institution for Savings is a Massachusetts-chartered
savings bank located in Hingham, Massachusetts. Incorporated in
1834, it is the oldest financial institution headquartered in
Hingham and one of the oldest continuously operating banks in the
United States. The Bank's main offices are located in Hingham,
MA. The Bank also maintains branch offices in South Hingham
and the neighboring towns of Cohasset, Hull, Norwell, Scituate and
Weymouth, as well as branches in the South End of Boston and on
Beacon Hill and on the island of Nantucket.
The Bank's shares of common stock are listed and traded on The
NASDAQ Stock Market under the symbol HIFS.
CONTACT: Bob Bogart, Vice President, Treasurer (781) 749-2200
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