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PRESS RELEASE
FROM:
Robert H. Gaughen, Jr., President
Hingham Institution for
Savings
Hingham, MA (Nasdaq -
HIFS)
DATE: June 2, 2003
CONTACT: William M. Donovan, Jr., Vice President (781) 749-2200
HINGHAM RECEIVES #1 NATIONAL
RANKING
HINGHAM INSTITUTION FOR SAVINGS (Nasdaq - HIFS), Hingham, Massachusetts, announced that it has received the #1 national performance rating for a second year in SNL Financial's recent ranking of the country's smaller thrift institutions.
Rankings are based on a weighted average of
scores in six categories, including EPS Growth, Efficiency Ratio, ROAE
and ROAA. Hingham was ranked #1 of the 192 smaller thrifts, "...Hingham
Institution for Savings repeated as champion..." SNL Financial's
ThriftInvestor, May 2003. SNL Financial is a respected information and
research firm in the financial information marketplace, providing news
and analysis to the banking and financial services sector. More information
on this analysis may be found in the May issue of ThriftInvestor, or at
www.snl.com.
Click here for article highlights.
HIFS has also recently been named in the 2003 "Globe 100," an annual listing by the Boston Globe of the 100 top-performing publicly traded companies in Massachusetts. HIFS President Robert Gaughen, Jr., has been quoted in this award supplement:
"Investors are looking for things they
understand and things that pay a pretty good dividend, and the smaller
banks offer both. I think we'll continue to do just fine this year."
Boston Globe article "Viewed as safe haven, stocks for small institutions
reap solid gains"
HIFS has also been included in the 2003 Boston Herald's "The Herald Hundred." Northeastern University's College of Business Administration professors Paul Bolster and Fred Wiseman have created this listing of the top-performing publicly traded companies based in Massachusetts for the past six years. This year the listing included numerical rankings to assist readers in weighing investment risks. Hingham Institution for Savings is ranked 5th on the Boston Herald's listing for "Least Risky Companies," a ranking of the stock's risk relative to the entire market.
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 Massachusetts. 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 Hull, Cohasset, Scituate, and South Weymouth.
The Bank's shares of common stock are listed and traded on The Nasdaq Stock Market under the symbol HIFS.
This press release may contain statements relating to future results of the Bank (including certain projections and business trends) that are considered "forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995. Actual results may differ materially from those projected as a result of certain risks and uncertainties, including but not limited to changes in political and economic conditions, interest rate fluctuations, competitive product and pricing pressures within the Bank's market, bond market fluctuations, personal and corporate customers' bankruptcies, and inflation, as well as other risks and uncertainties.
