PRESS RELEASE
| FROM: | Robert H. Gaughen, Jr., President |
| Hingham Institution for Savings | |
| Hingham, MA (NASDAQ-HIFS) | |
| DATE: | November 19 , 2009 |
| CONTACT: | William M. Donovan, Jr., Vice President (781) 749.2200 |
QUARTERLY DIVIDEND AND INCREASED SPECIAL DIVIDEND DECLARED HINGHAM INSTITUTION FOR SAVINGS
(Nasdaq – HIFS), Hingham, Massachusetts announced that its Board of Directors declared its regular quarterly cash dividend of $0.22 per share. The dividend will be paid on January 21, 2010 to stockholders of record as of January 11, 2010.
In addition to the regular quarterly dividend, Hingham’s Board of Directors announced that it will pay a special dividend of $0.23 per share, which represents a 4.5% increase over the prior year’s special dividend. This special dividend will also be paid on January 21, 2010 to stockholders of record as of January 11, 2010.
Robert H. Gaughen, Jr., President and Chief Executive Officer of the Bank, stated, “During this period of financial turmoil our earnings, return on equity, deposits and loans have all shown healthy increases. These positive results have allowed our Board to approve the regular quarterly dividend and approve an increased special dividend. This sixty-fourth consecutive quarterly dividend and the fifteenth consecutive annual special dividend communicate our continued confidence in our belief that a prudently operated, well capitalized local bank can profitably serve both its stockholders and its communities.”
Hingham Institution for Savings is a Massachusetts-chartered savings bank located in Hingham, Massachusetts. Incorporated in 1834, it is the oldest financial institution headquartered in Hingham and one of the oldest in the Commonwealth. The Bank’s main offices are located on Main Street, Hingham, Massachusetts 02043, phone (781) 749-2200. The Bank also maintains branch offices in South Hingham and the neighboring towns of Cohasset, Hull, Scituate, Norwell, Weymouth as well as the South End of Boston.
The Bank’s shares of common stock are listed and traded on The Nasdaq Stock Market under the symbol HIFS.
Copyright 2007 Hingham Institution for Savings. All rights reserved. Member FDIC/Member DIF FDIC deposit insurance temporarily increased from $100,000 to $250,000 per depositor through December 31, 2013. Hingham Institution for Savings has chosen not to participate in the FDIC's Transaction Account Guarantee Program. Customers of Hingham Institution for Savings with noninterest-bearing transaction accounts will continue to be insured through December 31, 2013 for up to $250,000 under the FDIC's general deposit insurance rules. All deposits above this amount are insured by the Deposit Insurance Fund.
