HarborOne Bancorp, Inc. Announces 2024 Fourth Quarter Results

BROCKTON, Mass.--(BUSINESS WIRE)--HarborOne Bancorp, Inc. (the “Company” or “HarborOne”) (NASDAQ: HONE), the holding company for HarborOne Bank (the “Bank”), announced net income of $8.9 million, or $0.21 per diluted share, for the quarter ended December 31, 2024, an increase of $5.0 million, or 126.5%, compared to net income of $3.9 million, or $0.10 per diluted share, for the quarter ended September 30, 2024. The Company reported net income of $27.4 million, or $0.66 per diluted share, for the year ended December 31, 2024, compared to net income of $16.1 million, or $0.37 per diluted share, for the prior year. Fourth Quarter Financial Highlights: Net income of $8.9 million, or $0.21 per diluted share, partially driven by a $546,000 release of tax reserve for uncertain tax positions that were resolved. Excluding the reserve release, net income was $8.3 million or $0.20 per diluted share. Net interest margin of 2.36%, flat on a linked-quarter basis. Average deposits, excluding brokered deposits, increased $62.9 million, or 6.1% annualized, on a linked-quarter basis. The loans-to-deposits ratio improved 94 basis points during the quarter, from 107.57% to 106.63%. Credit loss provision of $1.9 million, increasing coverage ratio to 1.16%. Bank Term Funding Program (“BTFP”) borrowing of $175.0 million paid in full, driving a decline in average borrowings of $95.9 million during the quarter. As a result of the BTFP borrowing payoff and lower short-term interest rates, borrowing costs declined 25 basis points compared to the linked quarter. HarborOne Mortgage, LLC (“HarborOne Mortgage”) generated net income of $1.1 million, as compared to a $1.1 million loss on a linked-quarter basis. Share repurchases of 394,457 at an average cost of $12.64 per share. Joseph F. Casey, President and CEO commented on the results, “I am proud of our team’s efforts in continuing to grow our relationship banking model in 2024. The fourth quarter was our strongest of the year, with continued growth in deposits at reduced interest rates, $1.1 million of net income from our mortgage segment, and insignificant net charge offs. We are looking forward to carrying the positive momentum into 2025.” Net Interest Income On a linked-quarter basis, net interest and dividend income declined $66,000 from $31.9 million to $31.8 million. The linked-quarter decrease was impacted by: Net interest margin on an FTE basis was 2.36%, flat compared to the third quarter. Yield on loans declined 10 basis points as floating-rate assets repriced during the quarter, partially offset by an $8.3 million increase in the average loan balance. The loan yield was also negatively impacted by a decline in prepayment penalty fees of $249,000. Cost of deposits, excluding brokered deposits, decreased 6 basis points, and the average balance of deposits, excluding brokered deposits, increased $62.9 million, primarily due to increases in money market accounts and certificates of deposits. Borrowing costs improved 25 basis points, and average balances declined $95.9 million, primarily a result of the payoff of the BTFP borrowing. Noninterest Income On a linked-quarter basis, total noninterest income increased $3.1 million, or 29.5%, to $13.7 million, from $10.6 million. The linked-quarter increase was impacted by: HarborOne Mortgage realized a $4.0 million gain on loan sales from mortgage closings of $179.1 million in the fourth quarter, compared to $3.8 million from mortgage loan closings of $209.5 million in the third quarter. The rate-locked pipeline was down $30.7 million on a linked-quarter basis, as an uptick in mortgage rates, seasonal slow-down, and low for-sale inventory constrained loan demand. The mortgage servicing rights (“MSR”) valuation increased $1.9 million compared to a decrease of $2.8 million for the third quarter of 2024, including the impact of principal payments on the underlying mortgages of $588,000 and $690,000 for the quarters ended December 31, 2024 and September 30, 2024, respectively. The fourth quarter MSR valuation gain was offset by a $1.3 million economic hedging loss, whereas the third quarter included a $845,000 hedging gain. Deposit account fees in the fourth quarter included $690,000 earned from annual VISA volume incentives. Noninterest income in the third quarter included a $529,000 interest rate swap fee, and there was no such fee in the fourth quarter. Noninterest Expense On a linked-quarter basis, total noninterest expense increased $605,000 or 1.9%, to $32.9 million, compared to $32.3 million. The linked-quarter increase was impacted by: A $302,000 increase in compensation and benefits reflects a third quarter accrual reversal for management incentive based on estimated performance results, and there was no such reversal in the fourth quarter. Professional fees increased $159,000 primarily for consulting services. Deposit insurance increased $135,000, reflecting increased deposit balances as of the assessment date. Other expenses increased $127,000, primarily reflecting an increase in cloud computing expenses. Balance Sheet On a linked-quarter basis, total assets decreased $22.8 million, or 0.4%, to $5.75 billion, from $5.78 billion. The linked-quarter decrease was impacted by: Available-for-sale securities decreased $12.9 million to $263.9 million from the prior quarter. In the fourth quarter, the unrealized loss on securities available for sale increased to $65.2 million, as compared to $52.2 million in the prior quarter. Securities held to maturity were $19.6 million. Loans declined $27.0 million, or 0.6%, to $4.85 billion, from $4.88 billion the prior quarter. Total deposits increased $14.6 million to $4.55 billion from $4.54 billion the prior quarter. Non-certificate accounts decreased $19.4 million and term certificate accounts increased $6.2 million, as a competitive rate environment continued to pressure deposit mix and rates. Brokered deposits increased $27.8 million, primarily to support the payoff of the BTFP borrowing. As of December 31, 2024, FDIC-insured deposits were approximately 74% of total deposits, including Bank subsidiary deposits. Borrowed funds decreased $22.8 million to $516.6 million compared to $539.4 million at the prior quarter end. During the fourth quarter the Bank repaid the $175.0 million BTFP borrowing in full. As of December 31, 2024, the Bank had $1.29 billion in available borrowing capacity across multiple relationships. Total stockholders’ equity was $575.0 million compared to $584.2 million at the prior quarter end. Stockholders’ equity decreased 1.6% when compared to the prior quarter, as net income was offset by an increase in unrealized losses on available-for-sale securities, share repurchases, and dividends. The tangible-common-equity-to-tangible-assets ratio (1) was 9.05% at December 31, 2024, compared to 9.17% at September 30, 2024. Book value per share and tangible book value per share(1) declined modestly quarter over quarter from $13.24 to $13.15 and from $11.88 to $11.78, respectively, as a result of the increase in unrealized losses on the investment portfolio due to the increase in interest rates across the yield curve during the quarter. (1) Non-GAAP financial measure. Refer to the Reconciliation of Non-GAAP Financial Measures. 2024 Financial Highlights Net income increased $11.3 million, or 70.5%, to $27.4 million, or $0.66 per diluted share, for the year ended December 31, 2024, compared to net income of $16.1 million, or $0.37 per diluted share, for the prior year. The 2023 results included a goodwill impairment charge of $10.8 million. Return on average assets and return on average equity for the year ended December 31, 2024 were 0.47% and 4.71%, respectively compared to 0.29% and 2.68%, respectively, for the same period last year. Loan growth of $102.2 million, or 2.2% was funded by client deposit growth of $88.5 million, or 2.2%. The loans-to-deposits ratio improved to 106.63% at December 31, 2024 from 108.27% at December 31, 2023. Borrowing costs declined 33 basis points to 4.76% from 5.09% during 2024. During 2024, the Company continued to implement and execute share repurchase programs, repurchasing 1,895,980 shares at an average price of $11.15, including $0.10 per share of excise tax. Asset Quality and Allowance for Credit Losses Total nonperforming assets were $29.5 million at December 31, 2024, compared to $28.4 million at September 30, 2024 and $17.6 million at December 31, 2023. Nonperforming assets as a percentage of total assets were 0.51% at December 31, 2024, 0.49% at September 30, 2024, and 0.31% at December 31, 2023. The Company recorded a $1.9 million provision for credit losses for the quarter ended December 31, 2024. The provision for loan credit losses was $2.2 million and the provision for unfunded commitments was a negative $228,000. The provision for loan credit losses was primarily due to a further specific reserve allocation for a previously identified classified commercial real estate loan, qualitative factor adjustments, and a decrease in loan balances. The specific reserve allocation was recorded in anticipation of a loan workout that includes the assumption of a modified loan by a new borrower. For the quarter ended September 30, 2024, the Company had recorded a provision for credit losses of $5.9 million, primarily related to one credit. The ACL on loans was $56.1 million, or 1.16% of total loans, at December 31, 2024, compared to $54.0 million, or 1.11% of total loans, at September 30, 2024. The ACL on unfunded commitments, included in other liabilities on the unaudited Consolidated Balance Sheets, amounted to $3.5 million at December 31, 2024, compared to $3.7 million at September 30, 2024. Net charge-offs totaled $58,000 for the quarter ended December 31, 2024 and $182,000, or 0.02% of average loans outstanding on an annualized basis, for the quarter ended September 30, 2024. As of December 31, 2024 and September 30, 2024, total criticized and classified commercial loans amounted to $178.6 million and $134.3 million, respectively. The quarterly increases in total criticized and classified commercial loans primarily reflects continued pressure on commercial real estate values. During the second half 2024, management performed comprehensive reviews of loans and borrower relationships to identify potential weaknesses and to ensure heightened vigilance to further weakness with the continued market uncertainty. About HarborOne Bancorp, Inc. HarborOne Bancorp, Inc. is the holding company for HarborOne Bank, a Massachusetts-chartered trust company. HarborOne Bank serves the financial needs of consumers, businesses, and municipalities throughout Eastern Massachusetts and Rhode Island through a network of 30 full-service banking centers located in Massachusetts and Rhode Island, and commercial lending offices in Boston, Massachusetts and Providence, Rhode Island. HarborOne Bank also provides a range of educational resources through “HarborOne U,” with free digital content, webinars, and recordings for small business and personal financial education. HarborOne Mortgage, LLC, a subsidiary of HarborOne Bank, provides mortgage lending services throughout New England and other states. Forward Looking Statements Certain statements herein constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Exchange Act and are intended to be covered by the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. We may also make forward-looking statements in other documents we file with the Securities and Exchange Commission (“SEC”), in our annual reports to shareholders, in press releases and other written materials, and in oral statements made by our officers, directors or employees. Such statements may be identified by words such as “believes,” “will,” “would,” “expects,” “project,” “may,” “could,” “developments,” “strategic,” “launching,” “opportunities,” “anticipates,” “estimates,” “intends,” “plans,” “targets” and similar expressions. These statements are based upon the current beliefs and expectations of the Company’s management and are subject to significant risks and uncertainties. Actual results may differ materially from those set forth in the forward-looking statements as a result of numerous factors. Factors that could cause such differences to exist include, but are not limited to, changes in general business and economic conditions (including inflation and concerns about inflation) on a national basis and in the local markets in which the Company operates, including changes that adversely affect borrowers’ ability to service and repay the Company’s loans; changes in interest rates; changes in customer behavior; ongoing turbulence in the capital and debt markets and the impact of such conditions on the Company’s business activities; increases in loan default and charge-off rates; decreases in the value of securities in the Company’s investment portfolio; fluctuations in real estate values; the possibility that future credit losses may be higher than currently expected due to changes in economic assumptions, customer behavior or adverse economic developments; the adequacy of loan loss reserves; decreases in deposit levels necessitating increased borrowing to fund loans and investments; competitive pressures from other financial institutions; cybersecurity incidents, fraud, natural disasters, war, terrorism, civil unrest, and future pandemics; changes in regulation; changes in accounting standards and practices; the risk that goodwill and intangibles recorded in the Company’s financial statements will become impaired; demand for loans in the Company’s market area; the Company’s ability to attract and maintain deposits; risks related to the implementation of acquisitions, dispositions, and restructurings; the risk that the Company may not be successful in the implementation of its business strategy; changes in assumptions used in making such forward-looking statements and the risk factors described in the Annual Report on Form 10‑K and Quarterly Reports on Form 10‑Q as filed with the SEC, which are available at the SEC’s website, www.sec.gov. Should one or more of these risks materialize or should underlying beliefs or assumptions prove incorrect, HarborOne’s actual results could differ materially from those discussed. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this release. The Company disclaims any obligation to publicly update or revise any forward-looking statements to reflect changes in underlying assumptions or factors, new information, future events or other changes, except as required by law. Use of Non-GAAP Measures In addition to results presented in accordance with generally accepted accounting principles (“GAAP”), this press release contains certain non-GAAP financial measures including: “core net income,” “core earnings per common share,” “core return on average earning assets,” “core return on average earning equity,” “efficiency ratio,” “core efficiency ratio,” “tax equivalent efficiency ratio,” “tax equivalent core efficiency ratio,” “total adjusted noninterest expense”, “core noninterest expense,” “tax equivalent net interest and dividend income,” “total core noninterest income,” “tax equivalent total core revenue,” “tangible common equity,” “average tangible common equity,” “tangible assets,” “tangible book value per share,” “tangible common equity to tangible assets,” “return on average tangible common equity,” “core return on average tangible common equity” and certain ratios derived from these measures. Non-GAAP measures are utilized by management, regulators and market analysts to evaluate the Company’s financial position and therefore such information is useful to investors. The tax equivalent basis adjusts for the tax-favored status from certain loans held by the Bank that are not taxable for federal income tax purposes. Core net income, core noninterest income and core noninterest expense exclude certain items that management does not consider indicative of ongoing financial performance or enhances comparability of results with prior periods. These adjustments include goodwill impairment charges, gain or loss on the sale of certain assets and release of reserve for uncertain tax position. These disclosures should not be viewed as a substitute for financial results determined in accordance with GAAP, nor are they necessarily comparable to non-GAAP performance measures which may be presented by other companies. Because non-GAAP financial measures are not standardized, it may not be possible to compare these financial measures with other companies’ non-GAAP financial measures having the same or similar names. HarborOne Bancorp, Inc. Selected Financial Highlights (Unaudited) For the Quarters Ended December 31, 2024 September 30, 2024 June 30, 2024 March 31, 2024 December 31, 2023 (Dollars in thousands) Earnings data Net interest and dividend income $ 31,827 $ 31,893 $ 31,350 $ 30,582 $ 29,693 Noninterest income $ 13,689 $ 10,568 $ 11,919 $ 10,741 $ 8,904 Total revenue $ 45,516 $ 42,461 $ 43,269 $ 41,323 $ 38,597 Noninterest expense $ 32,873 $ 32,268 $ 33,144 $ 31,750 $ 43,214 Pre-tax, pre-provision income (loss) $ 12,643 $ 10,193 $ 10,125 $ 9,573 $ (4,617 ) Provision for credit (benefits) losses $ 1,927 $ 5,903 $ 615 $ (168 ) $ 644 Income (loss) before income taxes $ 10,716 $ 4,290 $ 9,510 $ 9,741 $ (5,261 ) Net income (loss) $ 8,887 $ 3,924 $ 7,296 $ 7,300 $ (7,111 ) Core net income (1) $ 8,341 $ 3,924 $ 6,689 $ 7,300 $ 3,649 Per-share data Earnings per share, diluted $ 0.21 $ 0.10 $ 0.18 $ 0.17 $ (0.17 ) Core earnings per share, diluted(1) $ 0.20 $ 0.10 $ 0.16 $ 0.17 $ 0.09 Book value per share $ 13.15 $ 13.24 $ 12.99 $ 12.82 $ 12.86 Tangible book value per share(1) $ 11.78 $ 11.88 $ 11.63 $ 11.48 $ 11.52 Profitability Return on average assets 0.62 % 0.27 % 0.50 % 0.50 % (0.50 )% Core return on average assets(1) 0.58 % 0.27 % 0.45 % 0.50 % 0.26 % Return on average equity 6.08 % 2.69 % 5.07 % 5.00 % (4.85 )% Core Return on average equity(1) 5.71 % 2.69 % 4.54 % 5.00 % 2.49 % Return on average tangible common equity(1) 6.78 % 3.00 % 5.67 % 5.57 % (5.52 )% Core return on average tangible common equity(1) 6.36 % 3.00 % 5.19 % 5.57 % 2.83 % Net interest margin on a fully tax equivalent basis(1) 2.36 % 2.36 % 2.31 % 2.25 % 2.23 % Cost of total deposits 2.62 % 2.68 % 2.53 % 2.49 % 2.47 % Efficiency ratio(1) 71.81 % 75.55 % 76.16 % 76.38 % 111.47 % Core efficiency ratio(1) 71.81 % 75.55 % 77.54 % 76.38 % 83.59 % Tax equivalent efficiency ratio(1) 71.09 % 74.75 % 75.72 % 75.92 % 110.75 % Tax equivalent core efficiency ratio(1) 71.09 % 74.75 % 77.08 % 75.92 % 83.05 % Balance Sheet Total assets $ 5,753,133 $ 5,775,967 $ 5,787,035 $ 5,862,222 $ 5,667,896 Total loans $ 4,852,499 $ 4,879,503 $ 4,839,232 $ 4,776,685 $ 4,750,311 Total deposits $ 4,550,753 $ 4,536,177 $ 4,458,297 $ 4,394,024 $ 4,387,409 Total loans / total deposits 106.63 % 107.57 % 108.54 % 108.71 % 108.27 % Asset quality Allowance for credit losses ("ACL") $ 56,101 $ 54,004 $ 49,139 $ 48,185 $ 47,972 Nonperforming assets $ 29,473 $ 28,408 $ 9,766 $ 12,201 $ 17,582 Non-performing loans to total loans 0.61 % 0.58 % 0.20 % 0.25 % 0.37 % Allowance for credit losses on loans to non-performing loans 190.41 % 190.10 % 503.16 % 396.26 % 273.92 % Allowance for credit losses on loans to total loans 1.16 % 1.11 % 1.02 % 1.01 % 1.01 % Net loans charged off as a percent of average loans outstanding - % 0.02 % 0.02 % 0.01 % 0.11 % Capital adequacy Stockholders' equity / assets 9.99 % 10.11 % 9.98 % 9.85 % 10.30 % Tangible common equity / tangible assets(1) 9.05 % 9.17 % 9.03 % 8.92 % 9.33 % Common equity tier 1 ratio ("CET1")(1) 11.79 % 11.67 % 11.73 % 11.97 % 11.99 % Risk weighted assets $ 4,795,304 $ 4,827,022 $ 4,822,128 $ 4,727,354 $ 4,727,192 (1)Non-GAAP financial measure. Refer to the Reconciliation of Non-GAAP Financial Measures HarborOne Bancorp, Inc. Consolidated Balance Sheet Trend (Unaudited) Period ended December 31, September 30, June 30, March 31, December 31, (in thousands) 2024 2024 2024 2024 2023 Assets Cash and due from banks $ 44,090 $ 39,668 $ 48,097 $ 36,340 $ 38,876 Short-term investments 186,981 184,611 186,965 357,101 188,474 Total cash and cash equivalents 231,071 224,279 235,062 393,441 227,350 Securities available for sale, at fair value 263,904 276,817 269,078 291,008 290,151 Securities held to maturity, at amortized cost 19,627 19,625 19,725 19,724 19,796 Federal Home Loan Bank stock, at cost 23,277 17,476 25,311 26,565 27,098 Asset held for sale - - - 348 348 Loans held for sale, at fair value 36,768 28,467 41,814 16,434 19,686 Loans: Commercial real estate 2,280,309 2,321,148 2,380,881 2,355,672 2,343,675 Commercial construction 252,691 270,389 233,926 234,811 208,443 Commercial and industrial 594,453 549,908 499,043 471,215 466,443 Total commercial loans 3,127,453 3,141,445 3,113,850 3,061,698 3,018,561 Residential real estate 1,707,556 1,719,882 1,706,678 1,695,686 1,709,714 Consumer 17,490 18,176 18,704 19,301 22,036 Loans 4,852,499 4,879,503 4,839,232 4,776,685 4,750,311 Less: Allowance for credit losses on loans (56,101 ) (54,004 ) (49,139 ) (48,185 ) (47,972 ) Net loans 4,796,398 4,825,499 4,790,093 4,728,500 4,702,339 Mortgage servicing rights, at fair value 44,500 43,067 46,209 46,597 46,111 Goodwill 59,042 59,042 59,042 59,042 59,042 Other intangible assets 757 947 1,136 1,326 1,515 Other assets 277,789 280,748 299,565 279,237 274,460 Total assets $ 5,753,133 $ 5,775,967 $ 5,787,035 $ 5,862,222 $ 5,667,896 Liabilities and Stockholders' Equity Deposits: Demand deposit accounts $ 690,647 $ 713,379 $ 689,800 $ 677,152 $ 659,973 NOW accounts 298,337 296,322 308,016 305,071 305,825 Regular savings and club accounts 895,232 926,192 989,720 1,110,404 1,265,315 Money market deposit accounts 1,195,209 1,162,930 1,100,215 1,061,145 966,201 Term certificate accounts 1,069,844 1,063,672 985,293 852,326 863,457 Brokered deposits 401,484 373,682 385,253 387,926 326,638 Total deposits 4,550,753 4,536,177 4,458,297 4,394,024 4,387,409 Borrowings 516,555 539,364 619,372 754,380 568,462 Other liabilities and accrued expenses 110,814 116,224 132,037 136,135 128,266 Total liabilities $ 5,178,122 $ 5,191,765 $ 5,209,706 $ 5,284,539 $ 5,084,137 Common stock 598 598 598 598 598 Additional paid-in capital 489,532 488,983 487,980 487,277 486,502 Unearned compensation - ESOP (23,947 ) (24,407 ) (24,866 ) (25,326 ) (25,785 ) Retained earnings 373,861 368,222 367,584 363,591 359,656 Treasury stock (215,138 ) (210,197 ) (205,944 ) (199,853 ) (193,590 ) Accumulated other comprehensive loss (49,895 ) (38,997 ) (48,023 ) (48,604 ) (43,622 ) Total stockholders' equity $ 575,011 $ 584,202 $ 577,329 $ 577,683 $ 583,759 Total liabilities and stockholders' equity $ 5,753,133 $ 5,775,967 $ 5,787,035 $ 5,862,222 $ 5,667,896 HarborOne Bancorp, Inc. Consolidated Statements of Net Income (Unaudited) Three Months Ended Years Ended December 31, December 31, (in thousands, except share data) 2024 2023 2024 2023 Interest and dividend income: Interest and fees on loans $ 62,415 $ 59,499 $ 247,459 $ 225,898 Interest on loans held for sale 517 369 1,653 1,351 Interest on securities 1,996 2,001 8,147 8,118 Other interest and dividend income 2,591 2,516 14,149 8,921 Total interest and dividend income 67,519 64,385 271,408 244,288 Interest expense: Interest on deposits 29,963 27,310 114,103 88,324 Interest on borrowings 5,729 6,260 31,653 25,918 Interest on subordinated debentures - 1,122 - 2,775 Total interest expense 35,692 34,692 145,756 117,017 Net interest and dividend income 31,827 29,693 125,652 127,271 Provision for credit losses 1,927 644 8,277 5,680 Net interest and dividend income, after provision for credit losses 29,900 29,049 117,375 121,591 Noninterest income: Mortgage banking income: Gain on sale of mortgage loans 3,952 2,176 12,860 10,404 Changes in mortgage servicing rights fair value (19 ) (3,553 ) (3,704 ) (4,684 ) Other 2,431 2,301 9,453 9,099 Total mortgage banking income 6,364 924 18,609 14,819 Deposit account fees 6,024 5,796 21,600 20,674 Income on retirement plan annuities 121 147 529 540 Gain on sale of asset held for sale - - 1,809 - Loss on sale of securities - - (1,041 ) - Bank-owned life insurance income 769 1,207 3,050 2,749 Other income 411 830 2,361 3,072 Total noninterest income 13,689 8,904 46,917 41,854 Noninterest expenses: Compensation and benefits 18,853 19,199 74,016 73,917 Occupancy and equipment 4,477 4,670 18,522 18,773 Data processing 2,626 2,474 10,191 9,771 Loan expense 525 (317 ) 1,814 798 Marketing 599 811 3,332 3,711 Professional fees 1,451 1,690 5,436 5,679 Deposit insurance 1,163 795 4,348 3,485 Goodwill impairment - 10,760 - 10,760 Other expenses 3,179 3,132 12,376 11,426 Total noninterest expenses 32,873 43,214 130,035 138,320 Income (loss) before income taxes 10,716 (5,261 ) 34,257 25,125 Income tax provision 1,829 1,850 6,850 9,048 Net income (loss) $ 8,887 $ (7,111 ) $ 27,407 $ 16,077 Earnings (loss) per common share: Basic $ 0.21 $ (0.17 ) $ 0.66 $ 0.37 Diluted $ 0.21 $ (0.17 ) $ 0.66 $ 0.37 Weighted average shares outstanding: Basic 40,700,783 42,111,872 41,220,885 43,221,738 Diluted 41,062,421 42,299,858 41,472,106 43,419,622 HarborOne Bancorp, Inc. Consolidated Statements of Net Income - Trend (Unaudited) Quarters Ended December 31, September 30, June 30, March 31, December 31, (dollars in thousands, except share data) 2024 2024 2024 2024 2023 Interest and dividend income: Interest and fees on loans $ 62,415 $ 63,595 $ 61,512 $ 59,937 $ 59,499 Interest on loans held for sale 517 546 347 243 369 Interest on securities 1,996 1,965 2,121 2,065 2,001 Other interest and dividend income 2,591 2,928 3,971 4,659 2,516 Total interest and dividend income 67,519 69,034 67,951 66,904 64,385 Interest expense: Interest on deposits 29,963 29,969 27,272 26,899 27,310 Interest on borrowings 5,729 7,172 9,329 9,423 6,260 Interest on subordinated debentures - - - - 1,122 Total interest expense 35,692 37,141 36,601 36,322 34,692 Net interest and dividend income 31,827 31,893 31,350 30,582 29,693 Provision (benefit) for credit losses 1,927 5,903 615 (168 ) 644 Net interest and dividend income, after provision (benefit) for credit losses 29,900 25,990 30,735 30,750 29,049 Noninterest income: Mortgage banking income: Gain on sale of mortgage loans 3,952 3,752 3,143 2,013 2,176 Changes in mortgage servicing rights fair value (19 ) (2,641 ) (1,098 ) 54 (3,553 ) Other 2,431 2,390 2,356 2,276 2,301 Total mortgage banking income 6,364 3,501 4,401 4,343 924 Deposit account fees 6,024 5,370 5,223 4,983 5,796 Income on retirement plan annuities 121 122 141 145 147 Gain on sale of asset held for sale - - 1,809 - - Loss on sale of securities - - (1,041 ) - - Bank-owned life insurance income 769 777 758 746 1,207 Other income 411 798 628 524 830 Total noninterest income 13,689 10,568 11,919 10,741 8,904 Noninterest expenses: Compensation and benefits 18,853 18,551 18,976 17,636 19,199 Occupancy and equipment 4,477 4,628 4,636 4,781 4,670 Data processing 2,626 2,711 2,375 2,479 2,474 Loan expense 525 457 461 371 (317 ) Marketing 599 549 1,368 816 811 Professional fees 1,451 1,292 1,236 1,457 1,690 Deposit insurance 1,163 1,028 993 1,164 795 Goodwill impairment - - - - 10,760 Other expenses 3,179 3,052 3,099 3,046 3,132 Total noninterest expenses 32,873 32,268 33,144 31,750 43,214 Income (loss) before income taxes 10,716 4,290 9,510 9,741 (5,261 ) Income tax provision 1,829 366 2,214 2,441 1,850 Net income (loss) $ 8,887 $ 3,924 $ 7,296 $ 7,300 $ (7,111 ) Earnings (loss) per common share: Basic $ 0.21 $ 0.10 $ 0.18 $ 0.17 $ (0.17 ) Diluted $ 0.21 $ 0.10 $ 0.18 $ 0.17 $ (0.17 ) Weighted average shares outstanding: Basic 40,700,783 40,984,857 41,293,787 41,912,421 42,111,872 Diluted 41,062,421 41,336,985 41,370,289 42,127,037 42,299,858 HarborOne Bancorp, Inc. Asset Quality (Unaudited) As of or for the Three Months Ended December 31, September 30, June 30, March 31, December 31, 2024 2024 2024 2024 2023 Non-performing Assets Nonaccruing loans: Commercial real estate and construction $ 16,836 $ 17,171 $ - $ 1,496 $ 7,416 Commercial and industrial 2,204 1,743 1,773 1,744 1,791 Residential mortgages, construction, and HELOC 10,409 9,451 7,949 8,866 8,258 Consumer 14 43 44 54 48 Total nonaccruing loans 29,463 28,408 9,766 12,160 17,513 Other real estate owned - - - - - Repossessed assets 10 - - 41 69 Total nonperforming assets $ 29,473 $ 28,408 $ 9,766 $ 12,201 $ 17,582 Total nonperforming loans to total loans 0.61 % 0.58 % 0.20 % 0.25 % 0.37 % Total nonperforming assets to total assets 0.51 % 0.49 % 0.17 % 0.21 % 0.31 % Allowance for credit losses on loans Beginning balance $ 54,004 $ 49,139 $ 48,185 $ 47,972 $ 48,312 Net (charge-offs)recoveries: Commercial real estate and construction 40 3 - 100 (1,253 ) Commercial and industrial (57 ) (146 ) (184 ) (182 ) (81 ) Residential mortgages and HELOC 1 - 5 3 4 Consumer (42 ) (39 ) (16 ) (46 ) 18 Total net charge-offs: (58 ) (182 ) (195 ) (125 ) (1,312 ) Provision for loan credit losses 2,155 5,047 1,149 338 972 Ending balance $ 56,101 $ 54,004 $ 49,139 $ 48,185 $ 47,972 Allowance for credit losses on loans to total loans 1.16 % 1.11 % 1.02 % 1.01 % 1.01 % Allowance for credit losses on loans to nonaccruing loans 190.41 % 190.10 % 503.16 % 396.26 % 273.92 % Annualized net charge-offs (recoveries)/average loans - % 0.02 % 0.02 % 0.01 % 0.11 % Provision (credit) for unfunded commitments $ (228 ) $ 856 $ (534 ) $ (506 ) $ (328 ) Allowance for unfunded commitments $ 3,506 $ 3,734 $ 2,878 $ 3,412 $ 3,918 Delinquency Total delinquent loans $ 37,427 $ 21,325 $ 12,990 $ 12,160 $ 19,603 Total delinquent loans to total loans 0.77 % 0.44 % 0.27 % 0.25 % 0.41 % HarborOne Bancorp, Inc. Average Balances and Yield Trend (Unaudited) Quarters Ended December 31, 2024 September 30, 2024 December 31, 2023 Average Average Average Outstanding Yield/ Outstanding Yield/ Outstanding Yield/ Balance Interest Cost (8) Balance Interest Cost (8) Balance Interest Cost (8) (dollars in thousands) Interest-earning assets: Investment securities (1) $ 350,041 $ 1,996 2.27 % $ 351,897 $ 1,965 2.22 % $ 370,683 $ 2,001 2.14 % Other interest-earning assets 203,695 2,591 5.06 207,096 2,928 5.62 205,929 2,516 4.85 Loans held for sale 31,358 517 6.56 30,897 546 7.03 20,010 369 7.32 Loans Commercial loans (2)(3) 3,139,356 43,845 5.56 3,129,428 44,859 5.70 3,005,840 41,263 5.45 Residential real estate loans (3)(4) 1,711,481 18,685 4.34 1,712,295 18,837 4.38 1,707,978 18,103 4.21 Consumer loans (3) 17,583 343 7.76 18,445 351 7.57 22,324 384 6.82 Total loans 4,868,420 62,873 5.14 4,860,168 64,047 5.24 4,736,142 59,750 5.01 Total interest-earning assets 5,453,514 67,977 4.96 5,450,058 69,486 5.07 5,332,764 64,636 4.81 Noninterest-earning assets 295,057 303,765 313,729 Total assets $ 5,748,571 $ 5,753,823 $ 5,646,493 Interest-bearing liabilities: Savings accounts $ 924,514 3,339 1.44 $ 963,570 3,807 1.57 $ 1,307,774 6,875 2.09 NOW accounts 292,332 110 0.15 292,620 104 0.14 290,147 122 0.17 Money market accounts 1,184,006 10,565 3.55 1,130,148 10,953 3.86 963,223 9,288 3.83 Certificates of deposit 1,075,594 12,391 4.58 1,028,509 11,819 4.57 859,274 8,329 3.85 Brokered deposits 376,154 3,558 3.76 340,301 3,286 3.84 288,449 2,696 3.71 Total interest-bearing deposits 3,852,600 29,963 3.09 3,755,148 29,969 3.17 3,708,867 27,310 2.92 Borrowings 512,802 5,729 4.44 608,736 7,172 4.69 507,520 6,260 4.89 Subordinated debentures - - - - - - 22,614 1,122 19.68 Total borrowings 512,802 5,729 4.44 608,736 7,172 4.69 530,134 7,382 5.52 Total interest-bearing liabilities 4,365,402 35,692 3.25 4,363,884 37,141 3.39 4,239,001 34,692 3.25 Noninterest-bearing liabilities: Noninterest-bearing deposits 697,364 696,094 683,548 Other noninterest-bearing liabilities 101,371 109,796 137,239 Total liabilities 5,164,137 5,169,774 5,059,788 Total stockholders' equity 584,433 584,049 586,705 Total liabilities and stockholders' equity $ 5,748,571 $ 5,753,823 $ 5,646,493 Tax equivalent net interest income 32,285 32,345 29,944 Tax equivalent interest rate spread (5) 1.71 % 1.68 % 1.56 % Less: tax equivalent adjustment 458 452 251 Net interest income as reported $ 31,827 $ 31,893 $ 29,693 Net interest-earning assets (6) $ 1,088,112 $ 1,086,174 $ 1,093,763 Net interest margin (7) 2.32 % 2.33 % 2.21 % Tax equivalent effect 0.04 0.03 0.02 Net interest margin on a fully tax equivalent basis 2.36 % 2.36 % 2.23 % Ratio of interest-earning assets to interest-bearing liabilities 124.93 % 124.89 % 125.80 % Supplemental information: Total deposits, including demand deposits $ 4,549,964 $ 29,963 $ 4,451,242 $ 29,969 $ 4,392,415 $ 27,310 Cost of total deposits 2.62 % 2.68 % 2.47 % Total funding liabilities, including demand deposits $ 5,062,766 $ 35,692 $ 5,059,978 $ 37,141 $ 4,922,549 $ 34,692 Cost of total funding liabilities 2.80 % 2.92 % 2.80 % (1) Includes securities available for sale and securities held to maturity. (2) Tax-exempt income on industrial revenue bonds is included in commercial loans on a tax-equivalent basis. (3) Includes nonaccruing loan balances and interest received on such loans. (4) Includes the basis adjustments of certain loans included in fair value hedging relationships. (5) Net interest rate spread represents the difference between the yield on average interest-earning assets and the cost of average interest-bearing liabilities. (6) Net interest-earning assets represents total interest-earning assets less total interest-bearing liabilities. (7) Net interest margin represents net interest income divided by average total interest-earning assets. (8) Annualized HarborOne Bancorp, Inc. Average Balances and Yield Trend (Unaudited) For The Year Ended December 31, 2024 December 31, 2023 Average Average Outstanding Yield/ Outstanding Yield/ Balance Interest Cost Balance Interest Cost (dollars in thousands) Interest-earning assets: Investment securities (1) $ 362,301 $ 8,147 2.25 % $ 378,828 $ 8,118 2.14 % Other interest-earning assets 268,061 14,149 5.28 179,338 8,921 4.97 Loans held for sale 24,360 1,653 6.79 19,671 1,351 6.87 Loans Commercial loans (2)(3) 3,100,344 173,671 5.60 2,956,956 157,379 5.32 Residential real estate loans (3)(4) 1,704,921 74,090 4.35 1,684,793 67,701 4.02 Consumer loans (3) 18,941 1,404 7.41 28,149 1,734 6.16 Total loans 4,824,206 249,165 5.16 4,669,898 226,814 4.86 Total interest-earning assets 5,478,928 273,114 4.98 5,247,735 245,204 4.67 Noninterest-earning assets 299,703 311,558 Total assets $ 5,778,631 $ 5,559,293 Interest-bearing liabilities: Savings accounts $ 1,032,715 16,974 1.64 $ 1,386,891 25,271 1.82 NOW accounts 293,592 377 0.13 280,218 292 0.10 Money market accounts 1,094,757 41,017 3.75 875,722 29,138 3.33 Certificates of deposit 973,041 42,710 4.39 735,614 23,499 3.19 Brokered deposits 343,406 13,025 3.79 296,838 10,124 3.41 Total interest-bearing deposits 3,737,511 114,103 3.05 3,575,283 88,324 2.47 FHLB and FRB borrowings 665,179 31,653 4.76 532,586 25,918 4.87 Subordinated debentures - - - 31,378 2,775 8.84 Total borrowings 665,179 31,653 4.76 563,964 28,693 5.09 Total interest-bearing liabilities 4,402,690 145,756 3.31 4,139,247 117,017 2.83 Noninterest-bearing liabilities: Noninterest-bearing deposits 679,691 705,438 Other noninterest-bearing liabilities 114,186 113,675 Total liabilities 5,196,567 4,958,360 Total stockholders' equity 582,064 600,933 Total liabilities and stockholders' equity $ 5,778,631 $ 5,559,293 Tax equivalent net interest income 127,358 128,187 Tax equivalent interest rate spread (5) 1.67 % 1.84 % Less: tax equivalent adjustment 1,706 916 Net interest income as reported $ 125,652 $ 127,271 Net interest-earning assets (6) $ 1,076,238 $ 1,108,488 Net interest margin (7) 2.29 % 2.43 % Tax equivalent effect 0.03 0.01 Net interest margin on a fully tax equivalent basis 2.32 % 2.44 % Ratio of interest-earning assets to interest-bearing liabilities 124.45 % 126.78 % Supplemental information: Total deposits, including demand deposits $ 4,417,202 $ 114,103 $ 4,280,721 $ 88,324 Cost of total deposits 2.58 % 2.06 % Total funding liabilities, including demand deposits $ 5,082,381 $ 145,756 $ 4,844,685 $ 117,017 Cost of total funding liabilities 2.87 % 2.42 % (1) Includes securities available for sale and securities held to maturity. (2) Tax-exempt income on industrial revenue bonds is included in commercial loans on a tax-equivalent basis. (3) Includes nonaccruing loan balances and interest received on such loans. (4) Includes the basis adjustments of certain loans included in fair value hedging relationships. (5) Net interest rate spread represents the difference between the yield on average interest-earning assets and the cost of average interest-bearing liabilities. (6) Net interest-earning assets represents total interest-earning assets less total interest-bearing liabilities. (7) Net interest margin represents net interest income divided by average total interest-earning assets. HarborOne Bancorp, Inc. Segments Key Financial Data (Unaudited) Quarters Ended Statements of Net Income for HarborOne Bank Segment: December 31, 2024 September 30, 2024 June 30, 2024 March 31, 2024 December 31, 2023 (Dollars in thousands) Net interest and dividend income $ 31,681 $ 31,780 $ 31,098 $ 30,485 $ 30,637 Provision (benefit) for credit losses 1,927 5,903 615 (168 ) 644 Net interest and dividend income, after provision for credit losses 29,754 25,877 30,483 30,653 29,993 Mortgage banking income: Intersegment loss (161 ) (357 ) (464 ) (236 ) (159 ) Changes in mortgage servicing rights fair value 80 (220 ) (74 ) (32 ) (257 ) Other 169 175 180 180 185 Total mortgage banking (loss) income 88 (402 ) (358 ) (88 ) (231 ) Other noninterest income: Deposit account fees 6,024 5,370 5,223 4,983 5,796 Income on retirement plan annuities 121 122 141 145 147 Gain on sale of asset held for sale - - 1,809 - - Loss on sale of securities - - (1,041 ) - - Bank-owned life insurance income 769 777 758 746 1,207 Other income 383 798 624 517 787 Total noninterest income 7,385 6,665 7,156 6,303 7,706 Total noninterest expenses 27,400 26,752 27,791 27,407 28,613 Income before income taxes 9,739 5,790 9,848 9,549 9,086 Provision for income taxes 2,015 875 2,310 2,386 2,535 Net income $ 7,724 $ 4,915 $ 7,538 $ 7,163 $ 6,551 Efficiency ratio (Non-GAAP) Noninterest expense, as presented (GAAP) $ 27,400 $ 26,752 $ 27,791 $ 27,407 $ 28,613 Less: Amortization of other intangible assets 190 190 189 189 189 Total adjusted noninterest expense(non-GAAP) (A) $ 27,210 $ 26,562 $ 27,602 $ 27,218 $ 28,424 Net interest and dividend income (GAAP) $ 31,681 $ 31,780 $ 31,098 $ 30,485 $ 30,637 Plus: tax equivalent adjustment 458 452 256 249 251 Tax equivalent net interest and dividend income (non-GAAP) (B) $ 32,139 $ 32,232 $ 31,354 $ 30,734 $ 30,888 Total noninterest income (C) $ 7,385 $ 6,665 $ 7,156 $ 6,303 $ 7,706 Less: Gain on sale of asset held for sale - - 1,809 - - Loss on sale of securities - - (1,041 ) - - Core total noninterest income (non-GAAP) (D) $ 7,385 $ 6,665 $ 6,388 $ 6,303 $ 7,706 Tax equivalent efficiency ratio (non-GAAP) (A)/(B+C) 68.84 % 68.29 % 71.67 % 73.49 % 73.65 % Tax equivalent core efficiency ratio (non-GAAP) (A)/(B+D) 68.84 % 68.29 % 73.13 % 73.49 % 73.65 % HarborOne Bancorp, Inc. Segments Key Financial Data (Unaudited) Quarters Ended Statements of Net Income for HarborOne Mortgage Segment: December 31, 2024 September 30, 2024 June 30, 2024 March 31, 2024 December 31, 2023 (Dollars in thousands) Net interest and dividend income $ 140 $ 105 $ 240 $ 80 $ 160 Mortgage banking income: Gain on sale of mortgage loans 3,954 3,752 3,141 2,013 2,176 Intersegment gain 48 277 464 308 56 Changes in mortgage servicing rights fair value (99 ) (2,421 ) (1,024 ) 86 (3,296 ) Other 2,260 2,215 2,177 2,097 2,116 Total mortgage banking income 6,163 3,823 4,758 4,504 1,052 Other noninterest income (loss) - - 4 10 2 Total noninterest income 6,163 3,823 4,762 4,514 1,054 Total noninterest expenses 5,490 5,600 5,269 4,311 14,667 Income (loss) before income taxes 813 (1,672 ) (267 ) 283 (13,453 ) Income tax (benefit) provision (320 ) (535 ) (76 ) 60 (596 ) Net income (loss) $ 1,133 $ (1,137 ) $ (191 ) $ 223 $ (12,857 ) Closed loan volume $ 179,077 $ 209,525 $ 172,994 $ 102,102 $ 124,225 Gain on sale margin 2.21 % 1.79 % 1.82 % 1.97 % 1.75 % Efficiency ratio (non-GAAP) Noninterest expense, as presented (GAAP) (A) $ 5,490 $ 5,600 $ 5,269 $ 4,311 $ 14,667 Less: Goodwill impairment charge - - - - 10,760 Core noninterest expense (non-GAAP) (B) $ 5,490 $ 5,600 $ 5,269 $ 4,311 $ 3,907 Net interest and dividend income (GAAP) $ 140 $ 105 $ 240 $ 80 $ 160 Total noninterest income (GAAP) 6,163 3,823 4,762 4,514 1,054 Total revenue (C) $ 6,303 $ 3,928 $ 5,002 $ 4,594 $ 1,214 Efficiency ratio (non-GAAP) (A)/(C) 87.10 % 142.57 % 105.34 % 93.84 % 1,208.15 % Core efficiency ratio (non-GAAP) (B)/(C) 87.10 % 142.57 % 105.34 % 93.84 % 321.83 % HarborOne Bancorp, Inc. Non-GAAP Reconciliation (Unaudited) As of or for the Three Months Ended December 31, September 30, June 30, March 31, December 31, 2024 2024 2024 2024 2023 Core Net Income Net income (loss), as presented (GAAP) (A) $ 8,887 $ 3,924 $ 7,296 $ 7,300 $ (7,111 ) Add: Goodwill impairment charge - - - - 10,760 Less: Gain on sale of asset held for sale, net of taxes - - 1,429 - - Less: Loss on sale of securities, net of taxes - - (822 ) - - Less: Release of uncertain position reserve 546 - - - - Core Net Income (non-GAAP) (B) $ 8,341 $ 3,924 $ 6,689 $ 7,300 $ 3,649 Weighted average shares outstanding for the period: Basic (C) 40,700,783 40,984,857 41,293,787 41,912,421 42,111,872 Diluted (D) 41,062,421 41,336,985 41,370,289 42,127,037 42,299,858 Earnings (loss) per common share (GAAP): Basic (A)/(C) $ 0.21 $ 0.10 $ 0.18 $ 0.17 $ (0.17 ) Diluted (A)/(D) $ 0.21 $ 0.10 $ 0.18 $ 0.17 $ (0.17 ) Core Earnings per common share (non-GAAP): Basic (B)/(C) $ 0.20 $ 0.10 $ 0.16 $ 0.17 $ 0.09 Diluted (B)/(D) $ 0.20 $ 0.10 $ 0.16 $ 0.17 $ 0.09 Return on average assets, as presented (GAAP) (A)/(E) 0.62 % 0.27 % 0.50 % 0.50 % (0.50 ) % Core return on average earning assets(non-GAAP) (B)/(E) 0.58 % 0.27 % 0.46 % 0.50 % 0.26 % Average assets (E) $ 5,748,571 $ 5,753,823 $ 5,807,997 $ 5,804,738 $ 5,646,493 Return on average equity, as presented (GAAP) (A)/(F) 6.08 % 2.69 % 5.07 % 5.00 % (4.85 ) % Core return on average earning equity(non-GAAP) (B)/(F) 5.71 % 2.69 % 4.65 % 5.00 % 2.49 % Average equity (F) $ 584,433 $ 584,049 $ 575,321 $ 584,405 $ 586,705 Efficiency Ratio Noninterest expense, as presented (GAAP) $ 32,873 $ 32,268 $ 33,144 $ 31,750 $ 43,214 Less: Amortization of other intangible assets 190 190 189 189 189 Total adjusted noninterest expense(non-GAAP) (G) $ 32,683 $ 32,078 $ 32,955 $ 31,561 $ 43,025 Less: Goodwill impairment charge - - - - 10,760 Core noninterest expense (non-GAAP) (H) $ 32,683 $ 32,078 $ 32,955 $ 31,561 $ 32,265 Net interest and dividend income (GAAP) (I) $ 31,827 $ 31,893 $ 31,350 $ 30,582 $ 29,693 Plus: tax equivalent adjustment 458 452 256 249 251 Tax equivalent net interest and dividend income (non-GAAP) (J) 32,285 32,345 31,606 30,831 29,944 Total noninterest income (K) 13,689 10,568 11,919 10,741 8,904 Less: Gain on sale of asset held for sale - - 1,809 - - Loss on sale of securities - - (1,041 ) - - Total core noninterest income (non-GAAP) (L) 13,689 10,568 11,151 10,741 8,904 Tax equivalent total core revenue (non-GAAP) (M) $ 45,974 $ 42,913 $ 42,757 $ 41,572 $ 38,848 Efficiency ratio (non-GAAP) (G)/(I)+(K) 71.81 % 75.55 % 76.16 % 76.38 % 111.47 % Core efficiency ratio (non-GAAP) (H)/(I)+(L) 71.81 % 75.55 % 77.54 % 76.38 % 83.59 % Tax equivalent efficiency ratio (non-GAAP) (G)/(J)+(K) 71.09 % 74.75 % 75.72 % 75.92 % 110.75 % Tax equivalent core efficiency ratio (non-GAAP) (H)/(M) 71.09 % 74.75 % 77.08 % 75.92 % 83.05 % HarborOne Bancorp, Inc. Non-GAAP Reconciliation (Unaudited) As of or for the Three Months Ended December 31, September 30, June 30, March 31, December 31, 2024 2024 2024 2024 2023 Tangible equity and assets Total stockholders' equity, as presented (GAAP) (N) $ 575,011 $ 584,202 $ 577,329 $ 577,683 $ 583,759 Less: Goodwill and other intangible assets 59,799 59,989 60,178 60,368 60,557 Tangible common equity(non-GAAP) (O) $ 515,212 $ 524,213 $ 517,151 $ 517,315 $ 523,202 Average stockholders' equity (P) $ 584,433 $ 584,049 $ 575,321 $ 584,405 $ 586,705 Less: Average goodwill and other intangible assets 59,888 60,077 60,262 60,465 71,296 Average tangible common equity(non-GAAP) (Q) $ 524,545 $ 523,972 $ 515,059 $ 523,940 $ 515,409 Total assets, as presented(GAAP) $ 5,753,133 $ 5,775,967 $ 5,787,035 $ 5,862,222 $ 5,667,896 Less: Goodwill and other intangible assets 59,799 59,989 60,178 60,368 60,557 Tangible assets(non-GAAP) (R) $ 5,693,334 $ 5,715,978 $ 5,726,857 $ 5,801,854 $ 5,607,339 Common stock outstanding (S) 43,723,278 44,130,134 44,459,490 45,055,006 45,401,224 Book value per share (N)/(S) $ 13.15 $ 13.24 $ 12.99 $ 12.82 $ 12.86 Tangible book value per share (non-GAAP) (O)/(S) $ 11.78 $ 11.88 $ 11.63 $ 11.48 $ 11.52 Tangible common equity/tangible assets (non-GAAP) (O)/(R) 9.05 % 9.17 % 9.03 % 8.92 % 9.33 % Return on average tangible common equity (non-GAAP) (A)/(Q) 6.78 % 3.00 % 5.67 % 5.57 % (5.52) % Core return on average tangible common equity (non-GAAP) (B)/(Q) 6.36 % 3.00 % 5.19 % 5.57 % 2.83 % Category: Earnings Release

HarborOne Bancorp, Inc. Announces 2024 Fourth Quarter Results

FAQ

Why Bullish?

How important is it?

Why Short Term?

Related Companies

Related News