Hingham Institution for Savings (HIFS)

HIFS Income Statement

Financials in millions USD. Fiscal year is January - December.

Fiscal Year	TTM	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019
Period Ending	Sep 30, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Interest Income on Loans	175.03	156.68	132.09	109.45	103.8	99.38
Interest Income on Investments	17.43	17.58	6.94	1.04	2.57	7.57
Total Interest Income	192.46	174.26	139.03	110.49	106.36	106.95
Interest Paid on Deposits	85.47	71.43	16.88	6.87	16.19	26.82
Interest Paid on Borrowings	66.68	54.53	16.01	1.16	4.97	13.23
Total Interest Expense	152.15	125.96	32.89	8.03	21.16	40.05
Net Interest Income	40.31	48.3	106.13	102.47	85.2	66.9
Net Interest Income Growth (YoY)	-32.69%	-54.49%	3.58%	20.26%	27.36%	1.70%
Gain (Loss) on Sale of Assets	-	0.04	-	2.34	0.22	-
Gain (Loss) on Sale of Investments	17.6	15.15	-21.78	11.82	7.92	7.61
Other Non-Interest Income	0.55	0.56	0.46	0.41	0.38	0.42
Total Non-Interest Income	18.7	16.3	-20.72	15.31	9.19	8.83
Non-Interest Income Growth (YoY)	37.84%	-	-	66.54%	4.12%	-
Revenues Before Loan Losses	59.01	64.61	85.42	117.77	94.4	75.73
Provision for Loan Losses	0.6	1.12	4.51	3.03	2.29	1.57
Revenue	58.41	63.49	80.91	114.75	92.11	74.16
Revenue Growth (YoY)	-18.88%	-21.53%	-29.49%	24.58%	24.20%	18.13%
Salaries and Employee Benefits	16.49	16.37	15.81	13.95	13.08	12.67
Occupancy Expenses	1.41	1.38	1.13	1.19	1.51	1.47
Federal Deposit Insurance	3.17	2.7	1.86	0.93	0.86	0.53
Selling, General & Administrative	7.6	7.8	7.76	6.06	6.01	5.83
Total Non-Interest Expense	28.74	28.26	26.59	22.08	21.98	20.62
EBT Excluding Unusual Items	29.66	35.23	54.32	92.67	70.13	53.55
Pretax Income	29.66	35.23	54.32	92.67	70.13	53.55
Income Tax Expense	6.53	8.86	16.8	25.21	19.36	14.62
Net Income	23.13	26.37	37.52	67.46	50.77	38.93
Net Income to Common	23.13	26.37	37.52	67.46	50.77	38.93
Net Income Growth	-27.76%	-29.71%	-44.38%	32.87%	30.43%	28.05%
Basic Shares Outstanding	2	2	2	2	2	2
Diluted Shares Outstanding	2	2	2	2	2	2
Shares Change (YoY)	-0.24%	-0.41%	0.05%	0.82%	-	-0.18%
EPS (Basic)	10.65	12.26	17.49	31.51	23.76	18.24
EPS (Diluted)	10.55	12.02	17.04	30.65	23.25	17.83
EPS Growth	-27.67%	-29.46%	-44.40%	31.83%	30.40%	28.27%
Dividend Per Share	2.520	2.520	2.400	2.080	1.770	1.580
Dividend Growth	0%	5.00%	15.38%	17.51%	12.03%	11.27%
Effective Tax Rate	22.02%	25.15%	30.92%	27.21%	27.60%	27.30%

Source: S&P Capital IQ. Banks template. Financial Sources.