In follow-up to an article I wrote fairly recently on a small-cap banking stock, Hingham Institution for Savings (NASDAQ:HIFS), once again the company has been recognized as quite a fine one. From Hingham's press release today:
HINGHAM INSTITUTION FOR SAVINGS (HIFS), Hingham, Massachusetts announced they are the top ranked thrift institution in the East and second in the nation in the SNL Financial's 2013 annual performance ranking of the 100 largest public thrifts in the country. The ranking is based on six financial performance metrics for the calendar year 2013, including core return on average assets (ROAA), core return on average tangible common equity (ROATCE), median three-year growth rate in tangible book value per share, efficiency ratio, nonperforming loans to loans ratio, and net charge-offs. In its analysis, SNL also noted Hingham Savings for its consistent earnings growth in 2013.
President Robert H. Gaughen stated, "We're honored to learn of Hingham Savings' top Eastern ranking by SNL Financial. Our measured balance sheet growth, cost discipline and careful capital allocation have produced some of the industry's strongest returns and a sixth consecutive year of record earnings. We remain committed to the fundamentally conservative strategies that have produced long-term value without undue risk."
Congratulations. LOL, the stock actually traded over 4000 shares today...
Disclosure: I am long HIFS.
Additional disclosure: Not investment advice. I am not an investment adviser.