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.
HarborOne Bancorp reported a net income of $10.0 million or $0.21 per share for Q2 2022, a decline from $12.3 million in Q1 2022 and $14.3 million in Q2 2021. Loan growth reached $174.6 million (4.7%), while core deposits grew $96.3 million (3.0%). Net interest margin increased 27 basis points to 3.48%. Total noninterest income dropped 26.0% to $14.1 million, primarily due to mortgage banking income decline. Noninterest expenses rose slightly to $35.0 million.
HarborOne Bancorp, Inc. (NASDAQ: HONE) has announced a quarterly cash dividend of $0.07 per share, payable on July 27, 2022, to shareholders of record by July 13, 2022. This dividend declaration reflects the company's ongoing commitment to returning value to its investors amidst a challenging economic landscape influenced by the COVID-19 pandemic and evolving market conditions. HarborOne Bancorp, the parent company of HarborOne Bank, operates in Eastern Massachusetts and Rhode Island, serving both consumers and businesses.
HarborOne Bancorp, Inc. (NASDAQ:HONE) has appointed Anne Margulies, former Chief Information Officer of Harvard University, to its Board of Directors. With over 35 years of leadership experience, Margulies brings a wealth of expertise in information technology and strategic planning. Her previous roles include founding Executive Director of MIT OpenCourseWare and serving as Assistant Secretary for Information Technology in Massachusetts. This appointment is expected to guide HarborOne as it adapts to the evolving digital banking landscape.
HarborOne Bancorp (NASDAQ: HONE) reported a net income of $12.3 million for Q1 2022, down from $19.4 million year-over-year. Earnings per share remained at $0.25, with significant commercial loan growth of $123.3 million or 5.5%. Total assets rose 0.8% to $4.59 billion, with total deposits at $3.76 billion. The net interest margin ticked up to 3.21%, while nonperforming assets improved to 0.57% of total assets. A 40% dividend increase was announced alongside a fourth share repurchase program.
HarborOne Bancorp, Inc. (NASDAQ: HONE) has announced a new share repurchase program for up to 2,526,134 shares, representing about 5% of its outstanding shares. This program follows the completion of a previous buyback on March 25, 2022, and has received the necessary regulatory approvals. Share repurchases will depend on market conditions, corporate needs, and regulatory requirements. The program can be suspended or terminated at any time and is set to expire on April 12, 2023.
HarborOne Bancorp, Inc. (NASDAQ: HONE) announced a quarterly cash dividend increase from $0.05 to $0.07 per share, marking a 40% rise. The dividend will be paid on April 27, 2022 to shareholders of record as of April 13, 2022. CEO James W. Blake noted that this increase is supported by current and projected earnings. This results in an annualized dividend rate of $0.28 per share, reflecting the company's strong financial performance and commitment to returning value to shareholders.
HarborOne Bancorp, Inc. (NASDAQ: HONE) announced its 2022 Annual Meeting of Shareholders will be held on May 18, 2022, at 10:00 a.m. in Randolph, Massachusetts. Shareholders of record as of March 22, 2022, are entitled to vote, with options for remote participation. Further details regarding remote access will be provided in the proxy statement. HarborOne Bancorp is the holding company for HarborOne Bank, which operates 30 branches in Eastern Massachusetts and Rhode Island, serving various financial needs and offering educational services through HarborOne U.
The Board of Directors of HarborOne Bancorp, Inc. (NASDAQ: HONE) announced that CEO James W. Blake will retire on May 18, 2022. Joseph F. Casey, currently President and COO, will succeed him as CEO on May 19, 2022. Blake, who has led the company since 1995, oversaw significant growth, increasing assets from $458 million to over $4.5 billion and expanding branches from 7 to 30. Casey has been with the bank since 2004 and has held various leadership roles. The transition marks a continued commitment to growth and community service.
HarborOne Bancorp (HONE) reported a net income of $58.5 million, or $1.14 per diluted share, for the year ended December 31, 2021, marking a 30.6% increase from 2020. For Q4 2021, net income was $12.6 million, slightly up from Q3 2021's $12.3 million but down from $17.6 million in Q4 2020. Key highlights include 12.1% commercial loan growth and a 9.4% rise in net interest income year-over-year. The company maintained a return on average assets of 1.29% and plans to continue expanding in metro Boston.
HarborOne Bancorp, Inc. (NASDAQ: HONE) has declared a quarterly cash dividend of $0.05 per share, scheduled for payment on January 18, 2022. Shareholders of record as of the close of business on January 4, 2022 will receive this dividend. The announcement highlights the company's ongoing commitment to returning value to its shareholders amidst potential challenges in the financial landscape, including ongoing pandemic impacts and economic uncertainties, which may affect future financial results.
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