Hingham Institution for Savings reported net income for the year ended Dec. 31, 2012 of $13.3 million, a 10 percent increase from $12.06 million for 2011.

Net income for the fourth quarter was $3.3 million, up 6.4 percent from $3.1 million for the fourth quarter of 2011. The bank’s return on average equity for the year ending Dec. 31, 2012 was 15 percent, and the return on average assets was 1.15 percent.

Deposits increased by $82 million, or 10 percent; net loans increased by 12 percent and total assets by 7 percent from Dec. 31, 2011 to Dec. 31, 2012. Total assets were $1.2 billion as of Dec. 31, 2012, compared with $1.13 billion a year earlier. As of Dec. 31, 2012, non-performing assets totaled 0.28 percent of total assets, compared with 0.92 percent of total assets the year before.

President Robert H. Gaughen Jr. said in a statement, "We are pleased to report another year of record earnings, representing a 10 percent increase over those of 2011. Over the past several years, despite the challenging business environment, we have developed a track record for delivering consistently strong performance. Although the current interest rate environment is challenging, our focus on measured organic growth, effective cost control and aggressive management of asset quality have produced real bottom line results. We remain focused on increasing shareholder value through the careful construction of an outstanding community banking organization."

Hingham Institution for Savings is a Massachusetts-chartered savings bank headquartered in Hingham, with branch offices in South Hingham, Cohasset, Hull, Scituate, Norwell and Weymouth, as well as branches in the South End of Boston and on Beacon Hill in Boston.