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Hingham Institution Q1 Profit Rises - Quick Facts

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

For comments and feedback: editorial@rttnews.com

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After turning lower over the course of the previous session, stocks are likely to move back to the upside in early trading on Thursday. The major index futures are currently pointing to a sharply higher open for the markets, with the Dow futures up by 136 points. U.K. retail sales declined more-than-expected in September, driven by a sharp contraction in clothing sales. Retail sales fell 0.3 percent in September from a month ago, when it rose 0.4 percent, the Office for National Statistics said Thursday. This was the first drop in four months. Economists had forecast a 0.1 percent drop for September. Food sales recovered in September. The private sector in the eurozone logged a marginal upturn in October helped by an improvement in Germany, while France moved deeper into contraction, flash data from Markit Economics revealed Thursday. The headline flash Markit composite output index rose to 52.2 in October from a 10-month low of 52 in September. The score was forecast to fall to 51.5.
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