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HarborOne Bancorp, Inc. - HONE STOCK NEWS

Welcome to our dedicated page for HarborOne Bancorp news (Ticker: HONE), a resource for investors and traders seeking the latest updates and insights on HarborOne Bancorp stock.

HarborOne Bancorp, Inc. (NASDAQ: HONE) is a prominent bank holding company based in New England. As the largest state-chartered cooperative bank in the region, HarborOne boasts an impressive $2.1 billion in assets. For nearly a century, the company has steadfastly adhered to its mission of total commitment to customers, communities, and colleagues.

HarborOne serves 11 communities throughout southeastern Massachusetts with 14 full-service branches, offering a comprehensive suite of personal and small business banking products and services. Additionally, the bank provides state-of-the-art online and mobile banking tools to facilitate seamless financial management for its customers.

The company's mortgage and consumer lending services extend throughout eastern Massachusetts and northern Rhode Island. HarborOne's commercial lending team, consisting of seasoned veterans, specializes in delivering 'big bank' services with a local bank feel. The team offers expertise in loans, lines of credit, cash management services, and commercial real estate, addressing the diverse needs of today's business leaders.

HarborOne Bancorp operates through two primary segments: HarborOne Bank and HarborOne Mortgage. The bank segment provides a range of financial services, including deposit acceptance, lending, credit cards, money market accounts, and wealth management. The mortgage segment focuses on originating residential mortgage loans.

With branches located in Massachusetts and Rhode Island, and commercial lending offices in Boston and Providence, HarborOne is committed to fostering the growth and success of its communities. Initiatives like HarborOne U underscore this commitment by providing educational resources and support to local residents.

Recent achievements reflect the company's dynamic and forward-looking approach. HarborOne continues to expand its service offerings and strengthen its market presence, ensuring it remains a trusted partner for individuals and businesses alike.

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HarborOne Bank has transferred ownership of its former headquarters at 68 Legion Parkway, Brockton, to NeighborWorks Housing Solutions (NHS) as part of a redevelopment project called 'Liberty on Legion'. The deal, signed on June 28, 2024, aims to revitalize downtown Brockton. Pre-development will begin in 2025, with construction starting in 2026 and completing by 2028. The mixed-use property will feature a new HarborOne Banking Center, NHS headquarters, and 50-60 mixed-income apartments. Mayor Robert Sullivan praised the partnership for its community impact.

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HarborOne Bancorp, the holding company of HarborOne Bank, has declared a cash dividend of $0.08 per share for the second quarter of 2024.

The dividend will be paid on July 24, 2024, to shareholders of record as of July 10, 2024. The company trades under the stock symbol 'HONE' on NASDAQ.

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HarborOne Bank has announced the recipients of its 2024 ONECommunity Scholarships, awarding a total of $100,000 to 20 students from Massachusetts and Rhode Island. Each recipient will receive a $5,000 scholarship, which will be paid directly to the college or university they will attend in the fall of 2024. This initiative is part of HarborOne Bank's long-term commitment, started in 2016, to support college affordability and invest in educational opportunities. To date, the ONECommunity Scholarship Program has granted $900,000 in scholarships. The bank plans to invest a total of $1 million over a 10-year period aimed at fostering educational excellence and community involvement among high school seniors.

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HarborOne Bancorp announced a share repurchase program approved by its Board of Directors, allowing the company to buy back up to 2,222,568 shares, approximately 5% of its outstanding shares, for a total of up to $20 million.

The repurchases can be made in open market transactions under a trading plan consistent with SEC Rule 10b5-1. The program, ending May 28, 2025, gives flexibility regarding the timing and number of shares repurchased based on price, market conditions, and other corporate priorities. The company is not obligated to purchase a specific number of shares, and the program can be suspended or terminated at any time without prior notice.

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HarborOne Bancorp, Inc. reported net income of $7.3 million, or $0.17 per diluted share, for the first quarter of 2024, compared to a net loss of $7.1 million for the preceding quarter. Strong asset quality was highlighted, with nonperforming loans decreasing to 0.25%. Noninterest income increased by 20.6%, while noninterest expenses decreased by 26.5%. The company returned $9.2 million to shareholders through dividends and stock buybacks.
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HarborOne Bancorp, Inc. appoints Stephen W. Finocchio as Executive Vice President and CFO, bringing over 20 years of experience in treasury and strategic planning. Finocchio's expertise in driving growth and innovation in financial institutions adds value to HarborOne's leadership team.
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HarborOne Bancorp, Inc. (NASDAQ: HONE) announces a 6.7% increase in quarterly cash dividend to $0.08 per share, reflecting confidence in current and projected earnings. The dividend will be paid on April 24, 2024, to shareholders of record as of April 10, 2024.
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HarborOne Bancorp, Inc. (HONE) schedules its 2024 annual meeting of shareholders for May 15, 2024, at 10:00 a.m. local time in Boston, Massachusetts. Shareholders as of March 18, 2024, are eligible to vote at the meeting.
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HarborOne Bancorp, Inc. (NASDAQ: HONE) reported a net income of $16.1 million for the year ended December 31, 2023, a decrease of 64.7% compared to the previous year. The fourth quarter of 2023 saw a net loss of $7.1 million. The results were impacted by the full impairment of goodwill at Harbor One Mortgage, LLC. Excluding the impairment charge, net income for the year was $26.9 million. The company also experienced deposit and loan growth, reduced noninterest expense, and share repurchases.
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HarborOne Bancorp, Inc. (HONE) declares a quarterly cash dividend of $0.075 per share
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FAQ

What is HarborOne Bancorp, Inc.?

HarborOne Bancorp, Inc. (NASDAQ: HONE) is the largest state-chartered cooperative bank in New England, providing comprehensive financial services.

Where are HarborOne's branches located?

HarborOne operates 14 full-service branches in southeastern Massachusetts and has commercial lending offices in Boston, MA, and Providence, RI.

What services does HarborOne offer?

HarborOne provides personal and small business banking, online and mobile banking, mortgage and consumer lending, commercial lending, and wealth management services.

What are HarborOne's areas of expertise in commercial lending?

HarborOne specializes in loans, lines of credit, cash management services, and commercial real estate.

How does HarborOne support local communities?

HarborOne supports local communities through initiatives like HarborOne U, which provides educational resources and support.

What are HarborOne's recent achievements?

HarborOne continues to expand its service offerings and strengthen its market presence, reflecting its dynamic and forward-looking approach.

Who are HarborOne's target customers?

HarborOne serves individuals and businesses in southeastern Massachusetts and northern Rhode Island.

What is HarborOne's asset size?

HarborOne Bancorp, Inc. has assets totaling $2.1 billion.

What is HarborOne's mission?

HarborOne's mission is total commitment to its customers, communities, and colleagues.

How can customers access HarborOne's services?

Customers can access HarborOne's services through its full-service branches, online and mobile banking platforms, and commercial lending offices.

HarborOne Bancorp, Inc.

Nasdaq:HONE

HONE Rankings

HONE Stock Data

521.37M
44.68M
12.83%
57.26%
0.91%
Commercial Banking
Finance and Insurance
Link
United States of America
BROCKTON