Hingham Institution For Savings reported net income for the third quarter of $1.78 million, compared to $1.12 million for the same period last year, a 59 percent bump.

“In this period of financial turmoil, we are proud of these accomplishments and we remain committed to the conservative strategies and practices that have made this possible,” said President Robert H. Gaughen Jr.  “At quarter end, the bank had no foreclosed property, and non-performing loans represented only .69 percent of total assets, a decrease from 1.1 percent at the end of the second quarter.”

But, Gaughen admits, “No bank is completely immune from the challenge of declining real estate values.”