Hingham Institution for Savings in Massachusetts said a double-digit spike in lending contributed to a strong third quarter.

The $2 billion-asset bank said its net income for the three months rose 22% from a year earlier to $5.9 million, or $2.79 a share.

Net loans grew 16% to $1.5 billion and the net interest margin narrowed by 4 basis points to 3.12%.

Net interest income rose 15.7% to $14.8 million as loans, interest-bearing deposits and stockholders' equity increased.

Noninterest expense as a percentage of average assets dropped to 1% from 1.15%.

The bank announced the results Wednesday.

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