Hingham Bank on Charles Street Surpasses $30 Million in Deposits

Hingham Institution for Savings announced that their newest Boston branch, at 80 Charles St. has surpassed the company’s two-year deposits projection in less than three months.

The branch opened Oct. 18 and as of Jan. 13 had $30,148.202.48 in deposits. To date, the Beacon Hill branch has opened over 250 new accounts, including a high percentage of core deposits and business operating accounts.

“We are pleased to report a record performance that has far surpassed our expectations," President Robert H. Gaughen, Jr. said. "The Beacon Hill community welcomed us from the day we opened our doors. We appreciate the many visitors who have complimented our renovation of the historic storefront and its contribution to the unique streetscape of this neighborhood. We are encouraged by these extraordinary results and the warm welcome. Over many years, we have had very positive business experiences with Beacon Hill merchants and residents. This reception confirms our belief that the Beacon Hill neighborhood appreciates the service, rates, flexibility and simplicity of a local community bank.”

Hingham Institution for Savings is a Massachusetts-chartered savings bank located in Hingham. Incorporated in 1834, it is the oldest financial institution headquartered in Hingham and one of the oldest in the Commonwealth. The bank also maintains branch offices in South Hingham and the neighboring towns of Cohasset, Hull, Scituate, Weymouth and Norwell as well as the South End of Boston. In October 2011, the bank opened its 10th branch, on the Beacon Hill. The bank’s shares of common stock are listed and traded on The NASDAQ Stock Market under the symbol HIFS.