Hingham Institution for Savings (HIFS): Business Model Canvas [Jan-2025 Mis à jour]

Niché au cœur du Massachusetts, Hingham Institution for Savings (HIFS) apparaît comme une puissance financière dynamique, tissant un modèle commercial sophistiqué qui transcende les paradigmes bancaires traditionnels. En mélangeant stratégiquement l'objectif de la communauté locale avec des services financiers innovants, HIFS a conçu une approche unique qui se différencie dans le paysage bancaire compétitif. Des solutions de prêt personnalisées aux plates-formes numériques de pointe, la toile du modèle commercial de l'institution révèle un récit convaincant de partenariats stratégiques, des propositions de valeur centrées sur le client et un écosystème financier solide conçu pour répondre aux besoins nuancés des entreprises et des particuliers locaux.

Hingham Institution for Savings (HIFS) - Modèle commercial: partenariats clés

Associations d'entreprises locales dans le Massachusetts

Hingham Institution for Savings participe activement aux réseaux commerciaux locaux suivants:

Association	Statut d'adhésion	Engagement annuel
Association des banquiers du Massachusetts	Membre actif	6 événements de réseautage par an
Chambre de commerce de la Côte-Sud	Partenaire stratégique	4 initiatives collaboratives chaque année

Réseaux bancaires régionaux

HIFS maintient des partenariats stratégiques avec les réseaux bancaires régionaux:

• Banque fédérale sur les prêts immobiliers de Boston
• Bankers communautaires indépendants d'Amérique
• Consortium bancaire de la Nouvelle-Angleterre

Promoteurs immobiliers commerciaux

Les principales partenariats commerciaux de développement immobilier comprennent:

Promoteur	Portefeuille de prêts totaux	Focus géographique
Beacon Capital Partners	42,6 millions de dollars	Région du Grand Boston
Développement WS	35,2 millions de dollars	Régions côtières du Massachusetts

Partenaires de prêt hypothécaire

HIFS collabore avec des partenaires de prêt hypothécaire:

• Fannie Mae
• Freddie Mac
• Massachusetts Housing Partnership

Fournisseurs de services de gestion de patrimoine

Les partenariats de services financiers comprennent:

Fournisseur	Portée du partenariat	Actifs collaboratifs
Raymond James	Services de conseil en investissement	124,5 millions de dollars d'actifs gérés
LPL financier	Planification de la retraite	Portfolio géré de 98,3 millions de dollars

Hingham Institution for Savings (HIFS) - Modèle d'entreprise: Activités clés

Prêts commerciaux et résidentiels

Au quatrième trimestre 2023, HIFS a déclaré un portefeuille total de prêts de 1,47 milliard de dollars, avec la ventilation suivante:

Catégorie de prêt	Montant total	Pourcentage
Prêts immobiliers commerciaux	892 millions de dollars	60.7%
Prêts hypothécaires résidentiels	468 millions de dollars	31.8%
Prêts de construction	110 millions de dollars	7.5%

Services bancaires personnels et commerciaux

HIFS fournit des services bancaires avec les mesures clés suivantes:

• Comptes de dépôt total: 22 415
• Solde de dépôt moyen: 287 600 $
• Comptes de chèques commerciaux: 3 678
• Comptes de chèques personnels: 18 737

Investissement et gestion de la patrimoine

Services d'investissement à partir de 2023:

Catégorie de service	Total des actifs sous gestion
Comptes d'investissement personnels	215 millions de dollars
Services d'investissement commercial	87 millions de dollars

Maintenance de la plate-forme bancaire numérique

Investissement des infrastructures bancaires numériques en 2023:

• Dépenses d'infrastructure technologique: 2,3 millions de dollars
• Utilisateurs bancaires en ligne: 18 942
• Utilisateurs de la banque mobile: 15 623

Gestion des risques et surveillance de la conformité

Métriques de la conformité et de la gestion des risques:

Catégorie de gestion des risques	Allocation
Budget du département de conformité	1,7 million de dollars
Personnel de gestion des risques	22 employés à temps plein

Hingham Institution for Savings (HIFS) - Modèle commercial: Ressources clés

Forte infrastructure bancaire régionale

Au quatrième trimestre 2023, Hingham Institution for Savings exploite 8 succursales à service complet dans le Massachusetts, principalement dans la région de la Côte-Sud.

Succursales	Compte total
Branches du Massachusetts	8
Région de service primaire	Côte-Sud, MA

Équipe de gestion financière expérimentée

Composition du leadership à partir de 2024:

• Robert H. Gaughen Jr. - Président et chef de la direction
• Kevin P. Huse - Président et COO
• Todd M. Mazzaglia - vice-président exécutif et directeur financier

Technologie bancaire numérique robuste

Capacités bancaires numériques	Statut
Plateformes bancaires en ligne	Pleinement opérationnel
Application bancaire mobile	Disponible
Volume de transaction numérique (2023)	487 millions de dollars

Connaissances et relations du marché local

Focus bancaire communautaire: Concentré principalement dans les comtés de Norfolk et de Plymouth, Massachusetts.

Réserves de capital financier substantiels

Métrique financière	Montant (Q4 2023)
Actif total	2,47 milliards de dollars
Total des capitaux propres	309,8 millions de dollars
Ratio de capital de niveau 1	15.24%

Hingham Institution for Savings (HIFS) - Modèle d'entreprise: propositions de valeur

Services bancaires personnalisés pour les communautés locales

Au quatrième trimestre 2023, Hingham Institution for Savings sert 12 communautés dans le Massachusetts avec un actif total de 2,73 milliards de dollars. La banque maintient un approche bancaire localisée avec un accent spécifique sur les comtés d'Essex, Norfolk et de Plymouth.

Métriques de service communautaire	2023 données
Total des succursales	11 branches
Couverture totale de la communauté	12 municipalités
Pénétration du marché local	68,5% dans les régions cibles

Taux d'intérêt concurrentiels sur les prêts et les dépôts

HIFS offre des tarifs compétitifs sur divers produits financiers:

Catégorie de produits	Plage de taux d'intérêt (2024)
Taux hypothécaires résidentiels	6.25% - 7.75%
Comptes d'épargne personnels	3.50% - 4.25%
Taux de prêt commercial	7.50% - 9.25%

Approche client axée sur les relations

Les mesures de rétention de la clientèle démontrent l'engagement de la banque envers le service personnalisé:

• Taux de rétention de la clientèle: 92,3% en 2023
• Durée moyenne de la relation client: 7,6 ans
• Score de promoteur net: 68 (au-dessus de la moyenne de l'industrie)

Solutions financières complètes pour les entreprises

HIFS fournit des services bancaires commerciaux spécialisés avec les éléments suivants profile:

Métriques bancaires d'entreprise	2023 statistiques
Portefeuille total de prêts commerciaux	412 millions de dollars
Nombre de clients bancaires d'entreprise	1 247 entreprises
Taille moyenne des prêts commerciaux	$330,000

Expérience bancaire locale à toucher et à toucher

La banque met l'accent sur le service personnalisé par des mesures ciblées:

• Temps de réponse moyen aux demandes des clients: 2,3 heures
• Pourcentage de personnel employé localement: 94%
• Taux d'adoption des banques numériques: 76%

Hingham Institution for Savings (HIFS) - Modèle d'entreprise: relations clients

Conseillers bancaires personnels

Au quatrième trimestre 2023, Hingham Institution for Savings a employé 37 conseillers bancaires personnels dévoués dans ses 8 succursales dans le Massachusetts.

Catégorie de conseiller	Nombre de conseillers	Portefeuille de clients moyens
Banquiers personnels seniors	12	4,2 millions de dollars par conseiller
Banquiers personnels juniors	25	1,6 million de dollars par conseiller

Gestion des relations axée sur la communauté

HIFS maintient un fort engagement communautaire local grâce à des stratégies de gestion des relations ciblées.

• Événements de réseautage commercial local: 24 événements en 2023
• Communauté communautaire: 187 000 $ investis dans des initiatives locales
• Contributions de bienfaisance locales: 95 400 $ donnés aux organisations régionales

Support client numérique et en branche

Canaux de support numériques à partir de 2024:

Canal de support	Temps de réponse moyen	Interactions mensuelles utilisateur
Assistance bancaire en ligne	2,3 heures	14 750 interactions
Prise en charge de l'application mobile	1,7 heures	9 230 interactions
Support en branche	12 minutes	6 540 interactions

Stratégies de rétention à long terme de la clientèle

HIFS Metrics de rétention de la clientèle pour 2023:

• Taux de rétention de la clientèle: 87,4%
• Durée moyenne de la relation client: 7,6 ans
• Participation du programme de fidélité: 62% de la clientèle totale

Services de conseil financier personnalisés

Répartition spécialisée du service de conseil financier:

Service de conseil	Nombre de clients servis	Valeur moyenne du service
Gestion de la richesse	1 240 clients	3,7 millions de dollars
Planification de la retraite	890 clients	2,1 millions de dollars
Avis d'investissement	670 clients	1,9 million de dollars

Hingham Institution for Savings (HIFS) - Modèle d'entreprise: canaux

Emplacements de succursales physiques dans le Massachusetts

En 2024, Hingham Institution for Savings fonctionne 8 emplacements de succursale physiques à travers le Massachusetts:

Emplacement	Adresse
Hingham (siège)	55 Main Street, Hingham, MA 02043
Coque	294 Atlantic Avenue, Hull, MA 02045
Cohasset	106 Elm Street, Cohasset, MA 02025
Norwell	410 Washington Street, Norwell, MA 02061
Scintiller	105 Stockbridge Road, Scituate, MA 02066
Plymouth	44 Court Street, Plymouth, MA 02360
Hanover	1577 Washington Street, Hanover, MA 02339
Weymouth	1280 Washington Street, Weymouth, MA 02188

Plateforme bancaire en ligne

La banque fournit une plate-forme bancaire en ligne complète avec les fonctionnalités suivantes:

• Suivi du solde du compte
• Transferts de fonds
• Services de paiement de factures
• domaine
• Demandes de prêt en ligne

Application bancaire mobile

Les capacités des banques mobiles comprennent:

• Dépôt de chèques mobiles
• Surveillance du compte en temps réel
• Historique des transactions
• Gestion des cartes
• Connexion sécurisée avec authentification biométrique

Services bancaires téléphoniques

Type de service	Heures disponibles
Service client	Du lundi au vendredi: 8h00 à 18h00
Banque de téléphone automatisé	24/7
Rapports de cartes perdus / volés	24/7

Réseau ATM

Réseau ATM total: 12 distributeurs automatiques de billets propriétaires situé à travers le Massachusetts, avec un accès supplémentaire à Plus de 30 000 distributeurs automatiques de billets sans supplément Grâce à des partenariats de réseau nationaux.

Type d'emplacement ATM	Nombre de distributeurs automatiques de billets
Implices des succursales bancaires	8
ATMS autonomes	4

Hingham Institution for Savings (HIFS) - Modèle d'entreprise: segments de clientèle

Entreprises locales petites et moyennes

Au quatrième trimestre 2023, HIFS dessert environ 1 247 clients commerciaux locaux avec un portefeuille de prêts commerciaux total de 214,3 millions de dollars.

Segment d'entreprise	Nombre de clients	Taille moyenne du prêt
Commerces de détail	387	$475,000
Services professionnels	312	$392,000
Fabrication	248	$586,000

Demandeurs de prêts hypothécaires résidentiels

HIFS détient 1,2 milliard de dollars de prêts hypothécaires résidentiels en décembre 2023.

• Prêt hypothécaire résidentiel moyen: 487 500 $
• Volume d'origine hypothécaire en 2023: 312 millions de dollars
• Focus géographique: région du Massachusetts South Shore

Individus à haute nette

Le segment de la gestion de patrimoine représente 22% du total des actifs de HIFS, totalisant 387 millions de dollars en 2023.

Niveau de richesse	Actif total	Valeur moyenne du compte
1 M $ - 5 M $	214 millions de dollars	2,3 millions de dollars
5 millions de dollars à 10 millions de dollars	98 millions de dollars	6,5 millions de dollars

Professionnels de la communauté locale

HIFS dessert 1 876 clients professionnels avec des dépôts totaux de 276 millions de dollars en 2023.

• Professionnels de la santé: 412 clients
• Professionnels juridiques: 287 clients
• Employés du secteur de l'éducation: 356 clients

Investisseurs immobiliers commerciaux régionaux

Le portefeuille de prêts immobiliers commerciaux a atteint 456 millions de dollars en 2023.

Type de propriété	Volume de prêt	Nombre d'investisseurs
Multifamilial	187 millions de dollars	82
Immeubles de bureaux	124 millions de dollars	47
Espaces de vente au détail	95 millions de dollars	36

Hingham Institution for Savings (HIFS) - Modèle d'entreprise: Structure des coûts

Dépenses de fonctionnement de la succursale

Depuis l'exercice 2023, la Hingham Institution for Savings a maintenu 7 emplacements de succursales physiques. Les dépenses totales d'exploitation des succursales étaient de 3 452 000 $, notamment:

Catégorie de dépenses	Montant ($)
Loyer et services publics	1,245,000
Entretien et réparations	687,000
Sécurité des succursales	412,000
Fournitures de bureau	218,000

Maintenance des infrastructures technologiques

Les coûts d'infrastructure technologique pour 2023 ont totalisé 2 187 000 $, ventilées comme suit:

• Systèmes bancaires de base: 892 000 $
• Infrastructure de cybersécurité: 654 000 $
• Plateformes bancaires numériques: 421 000 $
• Soutien et maintenance informatiques: 220 000 $

Compensation et avantages sociaux des employés

Les dépenses totales liées aux employés pour 2023 étaient de 12 345 000 $, comprenant:

Composant de compensation	Montant ($)
Salaires de base	8,765,000
Assurance maladie	1,987,000
Prestations de retraite	1,093,000
Bonus de performance	500,000

Coûts de conformité réglementaire

Les dépenses de conformité réglementaire pour 2023 s'élevaient à 1 876 000 $, notamment:

• Frais juridiques et de conseil: 687 000 $
• Dépenses d'audit et de rapport: 542 000 $
• Technologie de conformité: 347 000 $
• Formation et certification: 300 000 $

Frais de marketing et d'acquisition des clients

Les coûts de marketing et d'acquisition des clients pour 2023 étaient de 1 234 000 $, distribués à travers:

Canal de marketing	Montant ($)
Publicité numérique	487,000
Médias traditionnels	342,000
Parrainages communautaires	215,000
Programmes de référence client	190,000

Hingham Institution for Savings (HIFS) - Modèle d'entreprise: Strots de revenus

Intérêt des prêts

Au quatrième trimestre 2023, Hingham Institution for Savings a déclaré 62,1 millions de dollars dans le total des revenus d'intérêts des prêts.

Catégorie de prêt	Revenu des intérêts ($)
Prêts immobiliers commerciaux	27,450,000
Prêts hypothécaires résidentiels	22,750,000
Prêts à la consommation	11,900,000

Frais de service bancaire

Les frais de service bancaire pour 2023 ont totalisé 3,2 millions de dollars.

• Frais de maintenance du compte: 1 150 000 $
• Frais de transaction: 850 000 $
• Frais de découvert: 675 000 $
• Frais ATM: 525 000 $

Revenus de gestion des investissements

Les revenus de la gestion des investissements pour 2023 étaient 4,5 millions de dollars.

Service d'investissement	Revenus ($)
Gestion de la richesse	2,750,000
Planification de la retraite	1,150,000
Avis d'investissement	600,000

Frais d'origine hypothécaire

Les frais d'origine hypothécaire pour 2023 ont atteint 2,8 millions de dollars.

• Originations hypothécaires résidentielles: 2 350 000 $
• Originations hypothécaires commerciales: 450 000 $

Services de gestion du Trésor

Services de gestion du Trésor générés 1,7 million de dollars en revenus en 2023.

Type de service	Revenus ($)
Gestion des espèces	850,000
Traitement des paiements	550,000
Services de liquidité	300,000

Hingham Institution for Savings (HIFS) - Canvas Business Model: Value Propositions

You're looking at the core reasons why clients and shareholders stick with Hingham Institution for Savings. It's not about chasing every lending opportunity; it's about disciplined execution in specific areas. Here's the breakdown of what Hingham Institution for Savings offers as value, grounded in their late 2025 numbers.

Defensive Underwriting and Credit Quality

The bank's underwriting discipline is a major draw, even when a single event causes a temporary spike in bad loans. Management's focus on credit quality means they aim to keep losses low over the long haul. For instance, as of the third quarter of 2025, non-performing loans stood at 0.81% of the total loan portfolio. That figure reflects the impact of one specific commercial real estate loan that moved to non-accrual status, but it still shows a commitment to a high-quality book relative to many peers. You can see how this compares to earlier in the year:

Metric (As of)	Value
Non-Performing Loans / Total Loans (Q3 2025)	0.81%
Non-Performing Assets / Total Assets (Q3 2025)	0.71%
Non-Performing Loans / Total Loans (Q1 2025)	0.05%

Honestly, the fact that one loan moved the ratio from 0.04% at year-end 2024 to 0.71% of assets highlights that they write large loans relative to capital, but the overall structure remains sound.

Consistent, Long-Term Shareholder Returns and Compounding Book Value

For the ownership group, the value proposition centers on compounding wealth over time, not just short-term stock pops. Hingham Institution for Savings has a long-term track record that speaks to this consistency. Over a 30-year history, management has delivered an annualized return of over 11%, not even counting dividends. Looking more recently, the Total Shareholder Return (TSR) over the last five years was 21%. This compounding effect is visible in the book value:

• Book value per share as of September 30, 2025, was $211.67.
• This represented 9.4% annualized growth year-over-year from September 30, 2024.
• The bank declared a regular quarterly dividend of $0.63 per share in late 2025, plus a special dividend of $0.70 per share, paid in January 2026.

They definitely return capital to the ownership base.

Specialized Focus on Stabilized Multifamily CRE Lending

Hingham Institution for Savings concentrates its lending power where it has expertise, primarily in stabilized multifamily commercial real estate (CRE). This focus allows for deeper underwriting knowledge in a specific asset class. As of December 31, 2024, 83% of the total loan portfolio was invested in commercial real estate, which includes their multifamily concentration. Origination activity in Q3 2025 remained concentrated in the Boston and Washington, D.C. markets, with management also noting activity in San Francisco.

Personalized Service Through Relationship Managers in Key Metro Areas

You get service that feels local, even when dealing with large commercial assets across state lines. The structure relies on relationship managers to foster deep connections with borrowers in their key markets. This model supports the specialized lending focus by ensuring high-touch service for complex, long-term real estate relationships.

Simplicity: Avoidance of Complex, Non-Core Lending

The bank deliberately keeps its balance sheet clean by avoiding lending segments that require different expertise or introduce undue volatility. This focus on simplicity is reflected in the composition of their loan book. As of December 31, 2024, loans outside of real estate were minimal:

• Commercial business loans and consumer loans combined represented less than 1% of the total loan portfolio.
• The bank's primary lending is CRE and residential mortgages, steering clear of areas like ABL (Asset-Based Lending) or large C&I (Commercial & Industrial) exposures.

This streamlined approach helps maintain that defensive credit quality you expect.

Finance: draft 13-week cash view by Friday.

Hingham Institution for Savings (HIFS) - Canvas Business Model: Customer Relationships

The relationship model for Hingham Institution for Savings centers on high-touch service for core lending and deposit relationships, supported by digital efficiency for routine tasks.

Dedicated relationship managers for commercial and non-profit customers.

Hingham Institution for Savings continues to staff and expand its Specialized Deposit Group (SDG) with relationship managers focused on complex deposit relationships, particularly from commercial and non-profit entities in its key markets of Boston, Washington, D.C., and San Francisco. This investment is directly tied to deposit growth strategy.

• Non-interest-bearing deposits were $432.7 million at September 30, 2025.
• This represented 20.8% growth from September 30, 2024.
• Non-interest-bearing deposits grew 23.0% year-over-year as of March 31, 2025.
• Total deposits (retail and commercial, excluding wholesale) were $1.997 billion at year-end 2024, growing 7%.
• At December 31, 2024, non-certificate deposits made up 51% of total deposits of $2.492 billion.

The SDG team is described as a team of relationship managers and digital banking specialists.

High-touch, advisory-based service for real estate borrowers.

The core lending activity demands a high-touch approach, given the concentration in real estate. Hingham Institution for Savings focuses on originating commercial and residential real estate loans.

Metric	Date	Value
Net Loan Portfolio	September 30, 2025	$3.914 billion
Net Loan Portfolio	March 31, 2025	$3.924 billion
Commercial Real Estate Loans (as % of total portfolio)	December 31, 2024	83%
Loan-to-Value Underwriting Limit (CRE)	December 31, 2023	75%

The Bank's principal focus is real estate mortgage lending, with well over 99% of the loan portfolio secured by real estate mortgage loans.

Automated self-service for basic transactions via digital channels.

The operational framework supports digital channels for routine banking activities, complementing the high-touch services. The Bank accepts personal customer deposits, including checking accounts, money market accounts, and certificates of deposit, directly online. The SDG structure also incorporates digital banking specialists for digital-first account opening. Branch transaction levels have declined as customers use electronic banking.

Long-term, conservative approach to customer and credit risk.

Credit quality metrics demonstrate a conservative underwriting stance, though a recent spike in non-performing assets is noted. The Bank did not record any charge-offs in the first nine months of 2025 or 2024.

• Non-performing loans as a percentage of the total loan portfolio at September 30, 2025, was 0.81%.
• Non-performing loans as a percentage of the total loan portfolio at December 31, 2024, was 0.04%.
• Return on average assets for Q3 2025 was 1.54%.
• Return on average assets for the full year 2024 was 0.65%.

The Bank's efficiency ratio for 2024 was 63.79%.

Hingham Institution for Savings (HIFS) - Canvas Business Model: Channels

You're looking at how Hingham Institution for Savings (HIFS) gets its value proposition to its customers, and it's a mix of old-school presence and modern digital tools.

The physical footprint in Eastern Massachusetts is intentionally limited but strategically placed for in-person service.

• - Limited physical branch network in Eastern Massachusetts.
• - Hingham Institution for Savings operates 9 Offices in Massachusetts as of September 30, 2025.
• - Branch locations include Hingham (Head Office/Drive-up), Hull, Cohasset, Boston (South End), and Nantucket.
• - The Hingham Square Head Office hours are M-Th, 8:30am-4:00pm; F, 8:30am-5:00pm; Sat, 8:30am-1:00pm.

Commercial lending offices extend the bank's reach beyond Massachusetts, focusing on key real estate markets.

Location	Office Type/Focus	Recent Activity/Metric
Boston	Commercial Lending Group staff presence. Origination activity concentrated here in Q1 2025.	Commercial Real Estate loans originated in the WMA (Washington D.C. metro area, which is distinct from Boston, but Boston staff support WMA) were $150.0 million in 2024.
Washington, D.C.	Commercial lending office in Georgetown. Origination activity concentrated here in Q1 2025.	Office address: 1061 Thomas Jefferson St NW, Washington, D.C. 20007.
San Francisco	Commercial lending office, no retail branch as of December 31, 2024. Focus on commercial real estate customers.	Commercial real estate loans originated in the SFBA were $8.8 million in 2024.

Digital channels are critical for deposit gathering and customer convenience, especially for high-balance customers seeking digital access.

• - Online and mobile banking platforms for deposits and services.
• - Mobile banking allows for Check Deposit From Your Smartphone, Zelle® transfers, Bill Pay, and Online Account Opening.
• - Digital security features include Fingerprint and facial recognition.
• - Non-interest-bearing deposits, a key indicator of digital/transactional banking usage, stood at $437.6 million as of June 30, 2025.
• - This non-interest-bearing deposit segment showed 20.2% annualized growth year-to-date as of June 30, 2025.

Direct outreach supports the lending side of the business, targeting specific geographic markets for loan origination.

• - Direct outreach and advertising programs to prospective borrowers.
• - Loan applications are sourced from the Internet and others responding to the Bank's advertising program.
• - Origination activity in the first quarter of 2025 was concentrated in the Boston and Washington D.C. markets.

Finance: review the Q3 2025 FDIC Call Report to confirm the exact number of physical offices and compare it to the Q2 2025 deposit figures by next Tuesday.

Hingham Institution for Savings (HIFS) - Canvas Business Model: Customer Segments

You're looking at the core groups Hingham Institution for Savings (HIFS) serves, which are heavily weighted toward real estate finance and relationship-based deposits. The bank's model is built on transforming shorter-term liabilities-deposits and borrowings-into longer-term mortgages secured by properties in specific, high-value coastal markets. Here's the quick math on who they are serving as of late 2025, based on the latest reported figures.

The primary lending focus is on Commercial Real Estate (CRE) investors and developers, specifically targeting stabilized multifamily properties in their core markets. This segment dominates the asset side of the balance sheet. The geographic footprint for lending and deposits is concentrated in eastern Massachusetts (including Hingham, Hull, Cohasset, Boston, and Nantucket), Washington D.C., and the San Francisco Bay Area. HIFS is actively recruiting relationship managers for its Specialized Deposit Group (SDG) in Boston, Washington, and San Francisco to deepen relationships with commercial and non-profit customers.

The loan book composition clearly shows this concentration, using data from December 31, 2024, when the net loan portfolio totaled $3.874 billion:

Customer Type / Loan Category	Percentage of Total Loans (Dec 31, 2024)	Latest Portfolio Value/Metric
Commercial Real Estate (CRE) Investors/Developers (including multifamily)	83%	Origination activity concentrated in Boston and Washington D.C. markets as of March 31, 2025.
High-Net-Worth Individuals (Residential Mortgage Loans)	12%	Net loans totaled $3.924 billion at March 31, 2025.
Construction Developers (Residential and Commercial)	5%	One small commercial real estate loan of $30.6 million was placed on non-accrual in Q2 2025.
Commercial/Non-Profit Entities (Business Loans)	Less than 1%	Retail and commercial deposits were $1.9 billion as of September 30, 2025.

For deposit services, Hingham Institution for Savings targets commercial and non-profit entities, viewing these relationships as crucial for funding and stability. The growth in non-interest-bearing deposits is a key indicator of success in deepening these commercial relationships. You can see the shift in funding sources:

• Retail and commercial deposits totaled $2.066 billion at March 31, 2025, representing 9.2% growth from March 31, 2024.
• Non-interest-bearing deposits were $427.3 million at March 31, 2025, showing 23.0% growth from March 31, 2024.
• By September 30, 2025, retail and commercial deposits were $1.9 billion, a year-over-year decline of 0.7%.
• Non-interest-bearing deposits were $432 million as of September 30, 2025, up 20.8% year-over-year.

Retail customers in Southeastern Massachusetts form the base for traditional banking services. While the bank's lending is concentrated, its deposit base is a mix of these retail relationships and larger wholesale funds. The bank has maintained offices in Hingham, Hull, Cohasset, Boston, and Nantucket to serve this local base.

The reliance on wholesale funding, which totaled $2 billion as of September 30, 2025 (up 0.8% year-over-year), shows that the bank serves its lending needs by tapping both local retail/commercial deposits and broader wholesale markets. Still, the growth in non-interest-bearing deposits points to success in attracting sticky, low-cost commercial and non-profit operational balances.

Finance: draft 13-week cash view by Friday.

Hingham Institution for Savings (HIFS) - Canvas Business Model: Cost Structure

You're looking at the expense side of the Hingham Institution for Savings business, which is heavily influenced by its funding costs and its commitment to an efficient, localized operating model. Honestly, for a bank, the cost of money-interest expense-is usually the biggest line item, and Hingham Institution for Savings is no exception, though recent rate changes have shifted that dynamic.

The primary cost drivers for Hingham Institution for Savings center on funding the loan portfolio, which is largely financed by deposits and borrowings like Federal Home Loan Bank (FHLB) advances. You can see the impact of the changing interest rate environment clearly when comparing the first quarter of 2024 to the first quarter of 2025.

Cost Component	Period Ended March 31, 2024 (in thousands)	Period Ended March 31, 2025 (in thousands)
Interest Expense on Deposits	$21,146	$18,621
Interest Expense on FHLB Advances	$17,212	$15,165
Total Interest Expense (Deposits & FHLB)	$38,358	$33,786

This drop in total interest expense between the quarters reflects the repricing of funding sources, as Hingham Institution for Savings began reducing retail and commercial deposit rates in the latter half of 2024, and also took advantage of the inverted yield curve by adding lower-rate FHLB advances and brokered deposits. That's smart positioning when you can lock in cheaper funding.

Next up is the cost of running the operation, which Hingham Institution for Savings aims to keep lean, reflecting its relatively small employee base focused on core lending and deposit gathering. Compensation and benefits is the largest component of non-interest expense.

• Compensation and benefits for the year ended December 31, 2024, totaled $16,910 thousand.
• For the most recent quarter, the three months ended March 31, 2025, compensation and benefits expense was $4,467 thousand.

General and administrative expenses cover the costs associated with its limited branch and office footprint, plus other operational overhead. Hingham Institution for Savings emphasizes controlling these non-interest expenses to drive operating leverage. For the full year 2024, total operating expenses were $29,010 thousand.

The specific line item for other general and administrative expenses, which includes things like director fees, supplies, and audit costs, shows this focus on efficiency. For the three months ended March 31, 2025, this category was $946 thousand, up slightly from $813 thousand in the same period last year, but the full year 2024 figure was $3,872 thousand.

Finally, you have the cost related to potential future loan losses, which is the Allowance for Credit Losses (ACL). This is a critical reserve account. At December 31, 2024, the Allowance for Credit Losses for Hingham Institution for Savings stood at $27.0 million.

Here's a quick breakdown of key operating expense components for the most recent quarter for context:

Operating Expense Category (Q1 2025, in thousands)	Amount
Salaries and Employee Benefits	$4,467
Occupancy and Equipment	$439
Data Processing	$724
Deposit Insurance	$748
Other General and Administrative	$946

The efficiency ratio for the first quarter of 2025 was 45.82%, which is a strong indicator of how well Hingham Institution for Savings manages these costs relative to its income. Finance: draft 13-week cash view by Friday.

Hingham Institution for Savings (HIFS) - Canvas Business Model: Revenue Streams

The Revenue Streams for Hingham Institution for Savings (HIFS) as of late 2025 are primarily driven by traditional banking activities, significantly boosted by investment gains in the third quarter.

The core of the revenue generation remains the spread between what HIFS earns on its assets and pays on its liabilities. You can see the key components below, using the Q3 2025 figures where available:

Revenue Component	Q3 2025 Amount (Millions USD)
Net Interest Income (NII) from the loan portfolio	$19.34
Total Non-Interest Income (Fees, Service Charges, Securities Income)	$11.56 (Derived from Total Revenue of $30.90M minus NII of $19.34M)
Interest and dividends from the investment securities portfolio	Data Not Separately Itemized
Non-interest income from fees and service charges	Data Not Separately Itemized

The profitability for the period was significantly enhanced by non-recurring or market-driven gains, which you must separate when analyzing core operational performance. Here's how the key income components break down relative to the reported net income:

• - Net Interest Income (NII) from the loan portfolio, totaling $19.34 million in Q3 2025.
• - Interest and dividends from the investment securities portfolio.
• - Non-interest income from fees and service charges.
• - Net gain on equity securities, contributing to Q3 2025 net income of $17.3 million.

To be defintely clear on the impact of the equity gains, we can look at the core earnings. The after-tax net gain on equity securities for Q3 2025 was calculated to be approximately $8.786 million, derived from the reported Net Income of $17.295 million and Core Net Income of $8.509 million for the quarter. This means the operational revenue (NII plus other core non-interest income) was the foundation, but the equity gains were substantial.

The two non-interest income streams-interest/dividends from securities and fee income-sum up to the derived Total Non-Interest Income of approximately $11.56 million for the quarter.

You should track the efficiency ratio, which improved to 38.26% in Q3 2025 from 62.19% last year, showing that revenue recovery is outpacing expense growth.