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HINGHAM INSTITUTION FOR SAVINGS ANNNOUNCES FIRST QUARTER RESULTS

 HINGHAM, Mass., April 26 /PRNewswire/ -- Hingham Institution for Savings (NASDAQ: HIFS) announces net income for the quarter ended March 31, 1993.
 HINGHAM INSTITUTION FOR SAVINGS
 Comparative Results
 First Quarter
 1993 1992
 Net income $830,000 $305,000
 Provision for possible
 losses on real estate owned $15,000 $128,000
 Hingham Institution for Savings is a State Chartered Savings Bank serving the South Shore of Massachusetts. On March 31, 1993, total assets were $148,200,000 and stockholders equity totaled $14,622,000 for a book value of $11.54 per share.
 HINGHAM INSTITUTION FOR SAVINGS
 Summary of Non-Performing Assets
 First Quarter
 1993 1992
 Real estate owned or
 substantively repossessed $4,189,000 $4,370,000
 Real estate held for investment --- 3,087,000
 Non-accrual loans 2,899,000 5,535,000
 Total $7,088,000 $12,992,000
 -0- 4/26/93
 /CONTACT: Paul E. Bulman, president and CEO of Hingham Institution for Savings, 617-740-8506/
 (HIFS)


CO: Hingham Institution for Savings ST: Massachusetts IN: FIN SU: ERN

CH -- NE014 -- 0803 04/26/93 14:32 EDT
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Publication:PR Newswire
Date:Apr 26, 1993
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