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Disclosure: Long HIFS
The Big Picture
Hingham is slowly returning to its proper place among banks with above-average ROAs. We’ll need to wait a week to see the details in its 10-Q and call report, but the earnings release tells most of the story.
Core ROA (excluding securities gains) was 0.97% for the 9 months ended Q3 2026, and core ROE was 8.79%. Standalone Q3 results show the sequential improvement to 1.04% and 9.15%, respectively.
It all comes down to net interest margin. NIM bottomed at 85bps in Q1 2024 when spreads hit a low of just 13bps. Since then, lower interest rates have brought funding costs down, while loan repricing is driving asset yields higher. NIM has climbed an average of 14bps each quarter since Q2 2024 and sits at 2.23% as of Q3 2026.
Baked into NIM is the quiet work Hingham has been doing to build a sustainable base of noninterest-bearing deposits.
