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FROM : DATE : HINGHAM INSTITUTION FOR SAVINGS PRESS RELEASE Robert H. Gaughen , Jr. , Chairman and Chief Executive Officer Hingham Institution for Savings Hingham , MA ( NASDAQ : HIFS ) October 13 , 2021 CONTACT : Patrick R. Gaughen , President and Chief Operating Officer ( 781 ) 783-1761 HINGHAM REPORTS THIRD QUARTER 2021 RESULTS HINGHAM INSTITUTION FOR SAVINGS ( NASDAQ : HIFS ) , Hingham , Massachusetts announced third quarter results for 2021 . Earnings Net income for the quarter ended September 30 , 2021 was $ 14,012,000 or $ 6.54 per share basic and $ 6.36 per share diluted , as compared to $ 15,206,000 or $ 7.12 per share basic and $ 6.96 per share diluted for the same period last year . The Bank's annualized return on average equity for the third quarter of 2021 was 16.57 % , and the annualized return on average assets was 1.85 % , as compared to 22.23 % and 2.26 % for the same period in 2020. Net income per share ( diluted ) for the third quarter of 2021 decreased by 9 % over the same period in 2020 . Core net income for the quarter ended September 30 , 2021 , which represents net income excluding the after - tax gains and losses on securities , both realized and unrealized , was $ 14,010,000 or $ 6.54 per share basic and $ 6.36 per share diluted , as compared to $ 12,394,000 or $ 5.80 per share basic and $ 5.68 per share diluted for the same period last year . The Bank's annualized core return on average equity for the third quarter of 2021 was 16.56 % , and the annualized core return on average assets was 1.85 % , as compared to 18.12 % and 1.84 % for the same period in 2020. Core net income per share ( diluted ) for the third quarter of 2021 increased by 12 % over the same period in 2020 . Net income for the nine months ended September 30 , 2021 was $ 50,784,000 or $ 23.72 per share basic and $ 23.09 per share diluted , as compared to $ 33,729,000 or $ 15.79 per share basic and $ 15.46 per share diluted for the same period last year . The Bank's annualized return on average equity for the first nine months of 2021 was 21.16 % , and the annualized return on average assets was 2.33 % , as compared to 17.19 % and 1.68 % for the same period in 2020. Net income per share ( diluted ) for the first nine months of 2021 increased by 49 % over the same period in 2020 . Core net income for the nine months ended September 30 , 2021 , which represents net income excluding the after - tax gains and losses on securities , both realized and unrealized , and the after - tax gains on the disposal of fixed assets , was $ 41,530,000 or $ 19.40 per share basic and $ 18.88 per share diluted , as compared to $ 31,652,000 or $ 14.81 per share basic and $ 14.51 per share diluted for the same period last year . The Bank's annualized core return on average equity for the first nine months of Page 1 of 10