Hingham Institution for Savings

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Hingham Institution for Savings Locations

Hingham Institution for Savings ACH Number: 211370370

Deposit Rates - July 1, 2022

SAVINGS RATES APY MIN
MM RATES APY MIN
Money Market
0.01% $10 Compare
Money Market
0.05% $50,000 Compare
Money Market
0.15% $100,000 Compare

Overview 2022

General Bank Information

FDIC Insured Yes
FDIC Certificate # 90211
Date Established 1834
Assets $ 3.43 billion
Loans $ 3.00 billion
Deposits $ 2.40 billion
Capital $ 354.61 million

Summary Balance Sheet

ASSETS
Cash & Balances due from depository institutions $ 270.67 million
Interest-bearing balances $ 265.25 million
Total securities $ 92.46 million
Federal funds sold and reverse repurchase N.A.
Net loans and leases $ 3.00 billion
Loan loss allowance $ 20.43 million
Trading account assets N.A.
Bank premises and fixed assets N.A.
Other real estate owned N.A.
Goodwill and other intangibles N.A.
All other assets $ 52.28 million
     Total Assets $ 3.08 billion

LIABILITIES
Total deposits $ 2.40 billion
      Interest-bearing deposits $ 2.01 billion
      Deposits held in domestic offices $ 2.40 billion
      % insured (estimated) 65.67%
Federal funds purchased and repurchase agreements N.A.
Trading liabilities N.A.
Other borrowed funds $ 665.00 million
Subordinated debt N.A.
All other liabilities $ 8.95 millionn
      Total Liabilities $ 3.08 billion
      Shareholders’ Equity $ 354.61 million

Summary Income Statement

INCOME AND EXPENSES
Total Interest Income $ 110.49 million
Total Interest Expense $ 8.03 million
Net interest income $ 102.47 million
Provision for loan and lease losses $ 3.03 million
Total non interest income $ 3.47 million
Total non interest expense $ 22.06 million
Pre-tax Net Operating Income $ 80.85 million

Hingham Institution for Savings is an FDIC insured institution headquartered at 55 Main St, Hingham, MA 2043.
It was founded in 1834 and has approximately $3 billion in assets. Customers can open an account at one of its 8 branches.


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Savings Comparison

This analysis is for demonstrative purposes only. Savings rates may go up or down, and CD rates may not be renewable for the length of the term of the analysis.

PRODUCT
BANK
BANK TYPE
STATE
AMOUNT
TERM
APY
VS.NATL'L AV.
MIN
MILES

Tax Rate: 30%

All calculations are for demonstration purposes only.

  • 1
    LOCAL SAVINGS
    Bank
    MASSACHUSETTS
    $50,000
    N.A.
    0.00%
    0.00x (National Avg. - 0.12%)
    $10
    -
    SCENARIO
    Year Rate
    0.00%
    Annual
    Interest
    Annual Interest
    (After Tax)
    1 50,000 0 0
    2 50,000 0 0
    3 50,000 0 0
    4 50,000 0 0
    5 50,000 0 0
    6 50,000 0 0
    7 50,000 0 0
    8 50,000 0 0
    9 50,000 0 0
    10 50,000 0 0
    11 50,000 0 0
    12 50,000 0 0
    13 50,000 0 0
    14 50,000 0 0
    15 50,000 0 0
    16 50,000 0 0
    17 50,000 0 0
    18 50,000 0 0
    19 50,000 0 0
    20 50,000 0 0
    TOTAL $0 $0
  • 2
    ONLINE SAVINGS
    Online Bank
    -
    $50,000
    N.A.
    1.25%
    10.68x (National Avg. - 0.12%)
    $5,000
    -
    SCENARIO
    Year Rate
    1.25%
    Annual
    Interest
    Annual Interest
    (After Tax)
    1 50,000 625 438
    2 50,625 633 443
    3 51,258 641 449
    4 51,899 649 454
    5 52,547 657 460
    6 53,204 665 466
    7 53,869 673 471
    8 54,543 682 477
    9 55,224 690 483
    10 55,915 699 489
    11 56,614 708 495
    12 57,321 717 502
    13 58,038 725 508
    14 58,763 735 514
    15 59,498 744 521
    16 60,241 753 527
    17 60,994 762 534
    18 61,757 772 540
    19 62,529 782 547
    20 63,310 791 554
    TOTAL $14,102 $9,871
  • 3
    ONLINE SAVINGS
    Online Bank
    -
    $50,000
    N.A.
    1.50%
    12.82x (National Avg. - 0.12%)
    $2,500
    -
    SCENARIO
    Year Rate
    1.50%
    Annual
    Interest
    Annual Interest
    (After Tax)
    1 50,000 750 525
    2 50,750 761 533
    3 51,511 773 541
    4 52,284 784 549
    5 53,068 796 557
    6 53,864 808 566
    7 54,672 820 574
    8 55,492 832 583
    9 56,325 845 591
    10 57,169 858 600
    11 58,027 870 609
    12 58,897 883 618
    13 59,781 897 628
    14 60,678 910 637
    15 61,588 924 647
    16 62,512 938 656
    17 63,449 952 666
    18 64,401 966 676
    19 65,367 981 686
    20 66,348 995 697
    TOTAL $17,343 $12,140