Hingham Savings (HIFS) Valuation Update
Disclosures: Long HIFS
Highlights
Hingham
Demonstrated progress. Core ROA: 0.72%; core ROE: 7.06% for FY 2025
Q4 core metrics at 1.84% and 17.50%, respectively
NIM to 1.89% for Q4, up 15bps; December NIM 1.96% annualized
Assets +1.9% and loans +0.7% from the end of 2024
Deposits + 2.9% including NIB deposits +17.7%
Continued overhead discipline at 67bps
NPAs at 0.69%; workout on DC loan continues
Leverage at 9.46x at the end of 2025 compared to 10.32x at the end of 2024.
Regulatory approval for $20 million in share repurchases
What’s Below?
Operating performance analysis
Loan book analysis and geographical breakdown
Analysis of deposits
Analysis of the newly disclosed investment portfolio positions and historical returns
Insider ownership changes and major holders
My thoughts on the Wolfpack short report
Valuation
