Harborone Bancorp Inc Stock Price, News & Analysis

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.

HarborOne Bancorp (NASDAQ: HONE) reported Q1 2025 net income of $5.5 million ($0.14 per diluted share), marking a 38.1% decrease from Q4 2024's $8.9 million ($0.21 per diluted share). The decline was primarily due to a $2.9 million decrease in mortgage banking income.

Key highlights include:

• Net interest margin of 2.39%, up 3 basis points quarter-over-quarter
• Deposits excluding brokered deposits increased $79.6 million (1.9%)
• Loans-to-deposits ratio improved to 104.38%
• Credit loss provision of $1.4 million
• Quarterly dividend increased 12.5%

Total assets decreased 0.9% to $5.70 billion, while total deposits increased to $4.62 billion. The company recorded net charge-offs of $8.7 million (0.72% of average loans annualized) for Q1 2025, with nonperforming assets at $30.9 million (0.54% of total assets).

HarborOne Bancorp (NASDAQ: HONE) has announced a 12.5% increase in its quarterly cash dividend, raising it from $0.08 to $0.09 per share. The increased dividend will be paid on April 23, 2025, to shareholders of record as of April 9, 2025.

The new dividend level translates to an annualized dividend rate of $0.36 per common share. President and CEO Joseph F. Casey stated that the dividend increase is supported by the company's current and projected earnings as they continue executing their business plan.

HarborOne Bancorp (NASDAQ: HONE) has announced its 2025 annual meeting of shareholders, scheduled for May 13, 2025 at 10:00 a.m. The meeting will take place at Goodwin Procter LLP in Boston, Massachusetts. Shareholders who own HONE stock as of the market close on March 14, 2025 will be eligible to vote at the meeting. The company will provide additional details about the Annual Meeting in its upcoming proxy statement.

HarborOne Bancorp (NASDAQ: HONE) reported Q4 2024 net income of $8.9 million ($0.21 per diluted share), a 126.5% increase from Q3 2024's $3.9 million. The full-year 2024 net income reached $27.4 million ($0.66 per diluted share), up 70.5% from 2023's $16.1 million.

Key Q4 highlights include a flat net interest margin of 2.36%, average deposit growth of $62.9 million (6.1% annualized), and improved loans-to-deposits ratio of 106.63%. HarborOne Mortgage contributed $1.1 million in net income, recovering from a Q3 loss. The company repurchased 394,457 shares at an average cost of $12.64.

Asset quality metrics showed total nonperforming assets at $29.5 million (0.51% of total assets), with an allowance for credit losses of $56.1 million (1.16% of total loans). The bank maintained strong liquidity with $1.29 billion in available borrowing capacity.