Hingham Institute for Savings has reported $3.3 million in net income for the third quarter, compared to $3.12 million for the same period last year. The bank’s annualized return on average equity for the third quarter of 2012 was 14.7 percent, and the annualized return on average assets was 1.15 percent.

Strong growth trends of recent years continued, as net loans increased by $67.7 million from Dec. 31, 2011, and $80.7 million from Sep. 30, 2011, representing a 11 percent annualized growth year-to-date and 10 percent from last year.

"We are pleased to report that our current quarterly earnings represent a 7 percent increase over the third quarter in 2011 and our year-to-date earnings were 11 percent over the same period in 2011," President Robert H. Gaughen Jr. said in a statement. "We continue to see ongoing improvement in our non-performing assets as the bank makes considerable progress in resolving our already modest level of problem credits. As we go through an extended period of low interest rates, we are seeing increased pressure on net interest margins. However, we continue to focus on our commitment to shareholder value through quality growth and effective cost control."