Harborone Bancorp Inc Stock Price, News & Analysis

Eastern Bankshares (NASDAQ: EBC) completed its acquisition of HarborOne (NASDAQ: HONE) effective November 1, 2025. Under the merger, HarborOne shareholders elected either 0.765 shares of Eastern common stock per HarborOne share or $12.00 cash per share, subject to allocation and proration.

After proration, 84.99% of HarborOne shares received stock consideration and 15.01% received cash. Eastern issued approximately 26,936,260 new shares and on a pro forma basis would have had 238,450,578 shares outstanding as of September 30, 2025.

Eastern Bankshares (NASDAQ: EBC) and HarborOne Bancorp announced the Merger will become effective shortly after midnight Eastern Time on November 1, 2025, following closing under the April 24, 2025 Merger Agreement.

Key transaction details: HarborOne common stock will be delisted after the close of trading on October 31, 2025; Eastern expects to announce allocation and proration results on or before November 3, 2025. Eastern reported $25.5 billion in assets as of September 30, 2025. Eastern appointed Joseph F. Casey and Michael J. Sullivan to its board effective at the Merger Effective Time.

Eastern Bankshares (NASDAQ: EBC) and HarborOne Bancorp (NASDAQ: HONE) announced key merger milestones and timelines.

HarborOne shareholders must elect merger consideration by 5:00 p.m. ET on October 28, 2025. The merger is expected to be effective shortly after midnight ET on November 1, 2025, and HarborOne common stock is expected to be delisted after the close of trading on October 31, 2025. At the Effective Time, each HarborOne share will be converted into the right to receive 0.765 shares of Eastern, $12.00 cash, or a combination, subject to allocation/proration designed to allocate 75%–85% of shares to stock consideration.

Eastern Bankshares (NASDAQ: EBC) and HarborOne Bancorp (NASDAQ: HONE) have received all necessary regulatory approvals for their previously announced merger. The transaction is expected to close around November 1, 2025, creating a $30 billion community-focused organization.

Following the merger completion, HarborOne Bank will operate as a division of Eastern Bank for approximately four months. The full integration of banking systems is scheduled for February 21, 2026. The merger will strengthen Eastern's presence in Greater Boston and expand its branch network into Rhode Island, combining Eastern's 109 branches with HarborOne's 30 banking centers.

Eastern Bankshares (NASDAQ: EBC) and HarborOne Bancorp (NASDAQ: HONE) announced the mailing of stock/cash election forms for their pending merger. Under the agreement, HarborOne shareholders can choose to receive either 0.765 shares of Eastern common stock, $12.00 in cash per share, or a combination of both.

The election deadline is expected to be 5:00 PM ET on October 28, 2025. The merger, previously approved by HarborOne shareholders on August 20, 2025, is anticipated to close on November 1, 2025, subject to regulatory approvals. The deal structure ensures that 75-85% of HarborOne shares will be converted to Eastern stock, with the remainder receiving cash consideration.

HarborOne Bancorp (NASDAQ: HONE) has declared a quarterly cash dividend of $0.09 per share, payable on September 15, 2025, to shareholders of record as of September 3, 2025.

The announcement comes amid the pending merger with Eastern Bankshares, Inc., which was announced on April 24, 2025. The press release includes extensive forward-looking statements addressing various risk factors, including inflation concerns, interest rate changes, and potential merger-related challenges.

HarborOne Bancorp (NASDAQ: HONE) reported Q2 2025 net income of $8.1 million ($0.20 per diluted share), marking a 46.5% increase from Q1 2025's $5.5 million. The company's performance showed improvement with net interest margin expanding to 2.52%, up 13 basis points quarter-over-quarter.

Key highlights include a $2.3 million increase in noninterest income driven by higher mortgage banking and swap fee income. The quarter saw $1.7 million in merger-related expenses connected to the previously announced merger agreement with Eastern Bankshares. Total assets decreased to $5.61 billion, with loans declining by $93.8 million to $4.73 billion.

Asset quality metrics showed total nonperforming assets at $32.7 million (0.58% of total assets), while the allowance for credit losses on loans stood at $48.0 million (1.01% of total loans).

HarborOne Bancorp (NASDAQ: HONE) has announced a quarterly cash dividend of $0.09 per share. The dividend will be paid on July 23, 2025, to shareholders of record as of the close of business on July 9, 2025.

This announcement comes in the context of the company's pending merger with Eastern Bankshares, Inc., which was announced on April 24, 2025. The dividend declaration demonstrates the company's continued commitment to providing shareholder returns while awaiting regulatory approvals and completion of the merger process.

Eastern Bankshares (EBC) and HarborOne Bancorp (HONE) have announced a definitive merger agreement valued at approximately $490 million. Under the terms, HarborOne shareholders will receive either 0.765 shares of Eastern common stock or $12.00 in cash per share, with stock consideration representing 75-85% of the total transaction.

The merger will strengthen Eastern's position in Greater Boston and expand into Rhode Island. The combined entity will have approximately $30.7 billion in assets, with Eastern contributing $25.0 billion and HarborOne adding $5.7 billion. The transaction is expected to provide 16% EPS accretion and a tangible book value earnback of 2.8 years.

The merger is anticipated to close in the fourth quarter of 2025, subject to regulatory approvals and HarborOne shareholder approval. Upon closing, HarborOne's CEO Joseph Casey and one other director will join Eastern's Board of Directors.