Hingham Institution for Savings has reported $2.8 million in net income for the quarter ended Sept. 30, compared to $2.2 million for the same period last year.

Net income for the nine months ended Sept. 30 was $7.5 million, compared to $5.8 million during the same period last year.

"We’re pleased to report continued growth and consistent strength as our quarterly earnings represent a 28 percent increase over the same period last year and our earnings for the first nine months of 2010 represent a 30 percent increase over the first nine months of 2009," said President Robert H. Gaughen Jr. "Additionally, during the quarter we have made significant progress in resolving several non-performing assets. At Sept. 30, 2010 non-performing assets decreased to 0.92 percent of total assets from 1.57 percent at June 30, 2010 and 1.36 percent at Dec. 31, 2009. We continue to aggressively pursue resolution of problem credits and believe that our conservative underwriting standards have served the bank well in these difficult times."