Introduction: The banking business is a difficult one. As with airlines, one bank sells a similar product as another one, either standard depository services to savers or a loan to borrowers. So, differentiation between banks relates to quality of management on an ongoing basis, unlike, say, the case with a company such as Apple Inc. (NASDAQ:AAPL) that benefits from its unique operating system and brand name even in periods where its leadership may not be as innovative as at other times; or Microsoft (NASDAQ:MSFT), with a monopoly/near-monopoly in businesses for both Word and Office.
Headquartered near Boston, a relatively small savings bank company (i.e., a thrift), Hingham Institution for Savings (NASDAQ:HIFS), has been...
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