Hingham Institution For Savings (HIFS: Quote), Thursday, reported a higher profit for the first quarter.
The Hingham, Massachusetts-based company reported a first-quarter net profit of $3.24 million or $1.52 per share, compared to $2.88 million or $1.35 per share last year.
Net interest income for the quarter grew to $9.36 million from $8.66 million in the prior-year quarter. Meanwhile provision for loan losses decreased to $225 thousands from $300 thousands last year.
For the quarter, total other income dropped to $407 thousands from $411 thousands in the prior-year quarter.
The company also increased its quarterly dividend to $0.25 per share from $0.24 per share.
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by RTT Staff Writer
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