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 (HONE) provides essential financial services through its cooperative banking model and mortgage solutions across New England communities. This news hub offers investors and stakeholders timely updates about strategic developments, regulatory compliance, and community-focused banking initiatives.
Access curated press releases detailing earnings reports, leadership changes, and product innovations. Discover announcements about commercial lending expansions, digital banking enhancements, and local economic partnerships that reflect HarborOne’s dual commitment to growth and community service.
Key updates include quarterly financial results, merger/acquisition activity, and regulatory filings. Track the company’s progress in sustainable banking practices and its responses to evolving market conditions in the New England region.
Bookmark this page for streamlined access to verified information about HONE’s operational milestones. Combine these updates with SEC filings and earnings call transcripts available on Stock Titan for comprehensive investment analysis.
HarborOne Bancorp (NASDAQ: HONE) reported Q3 2024 net income of $3.9 million, or $0.10 per diluted share, down from $7.3 million in Q2 2024 and $8.4 million in Q3 2023. The quarter saw loan growth of $40.3 million and client deposit growth of $89.5 million. Net interest margin improved to 2.33% from 2.29%. The quarter included a $5.9 million credit loss provision, primarily due to a suburban office commercial real estate credit. Total assets were $5.78 billion, with loans increasing to $4.88 billion and deposits rising to $4.54 billion.
HarborOne Bancorp, Inc. (NASDAQ: HONE), the holding company of HarborOne Bank, has announced a quarterly cash dividend declaration. The Board of Directors has approved a dividend of $0.08 per share. This dividend will be paid on October 28, 2024 to shareholders of record at the close of business on October 14, 2024. The announcement demonstrates the company's commitment to providing regular returns to its shareholders.
HarborOne Bancorp (NASDAQ: HONE) reported net income of $7.3 million, or $0.18 per diluted share, for Q2 2024. Key highlights include:
- Loan growth of $62.5 million (5.2% annualized)
- Client deposit growth of $66.9 million (6.7% annualized)
- Improved net interest margin to 2.31% from 2.25%
- Commenced new share repurchase program for approximately 5% of outstanding shares
- $1.8 million gain on sale of former headquarters, partially offset by $1.0 million loss on sale of low-yielding securities
The company saw improved asset quality, with nonperforming loans at 0.20% of total loans, down from 0.25% last quarter. Total assets decreased 1.3% to $5.79 billion, while loans increased 1.3% to $4.84 billion.
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.
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.
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.
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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