Hingham Institution authorizes up to $20M share buyback

Hingham Institution (HIFS) announced that its Board of Directors has authorized a share repurchase program pursuant to which the Bank may repurchase up to $20M of its outstanding common stock, having received all regulatory approvals as may be required. Under the Program, repurchases can be made from time to time using a variety of methods, which may include open market purchases, privately negotiated transactions, block trades, or any combination of such methods, in accordance with applicable securities laws and regulations. The Bank regularly evaluates all capital allocation options, in light of the Bank’s capital requirements and the prospective returns on such options, including the incremental return on organic balance sheet growth, investments, dividends (both regular and special), and share repurchases. The Program permits the Bank to repurchase shares when, in the estimate of senior management, the return on share repurchases is attractive relative to alternative capital allocation options.