Logo

HONE

HarborOne Bancorp, Inc.

HONE

HarborOne Bancorp, Inc. • NASDAQ
$12.10 ▼ -1.79% (-0.22)
Market Cap $522.22 M
52w High $14.29
52w Low $8.89
Dividend Yield 0.35%
P/E 18.615384615384617
Volume 583.03K
Outstanding Shares 43.16M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q2-2025 $76.686M ▲ $32.935M ▲ $8.058M ▲ 10.508% ▲ $0.2 ▲ $11.698M ▲
Q1-2025 $73.056M ▼ $31.576M ▼ $5.5M ▼ 7.528% ▼ $0.14 ▼ $8.22M ▼
Q4-2024 $80.021M ▲ $31.686M ▲ $8.887M ▲ 11.106% ▲ $0.22 ▲ $11.827M ▲
Q3-2024 $78.423M ▼ $31.089M ▼ $3.924M ▼ 5.004% ▼ $0.096 ▼ $5.404M ▼
Q2-2024 $78.67M $31.944M $7.296M 9.274% $0.18 $10.642M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q2-2025 $451.223M ▲ $5.609B ▼ $5.029B ▼ $580.147M ▲
Q1-2025 $230.492M ▼ $5.7B ▼ $5.124B ▼ $575.967M ▲
Q4-2024 $494.975M ▼ $5.753B ▼ $5.178B ▼ $575.011M ▼
Q3-2024 $501.096M ▼ $5.776B ▼ $5.192B ▼ $584.202M ▲
Q2-2024 $504.14M $5.787B $5.21B $577.329M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q2-2025 $8.058M ▲ $-4.987M ▼ $70.483M ▲ $-92.935M ▼ $-27.439M ▼ $-5.126M ▼
Q1-2025 $5.5M ▼ $23.362M ▲ $33.194M ▲ $-57.135M ▼ $-579K ▼ $23.154M ▲
Q4-2024 $8.887M ▲ $3.487M ▼ $19.623M ▲ $-16.318M ▼ $6.792M ▲ $3.148M ▼
Q3-2024 $3.924M ▼ $24.922M ▲ $-25.468M ▲ $-10.237M ▲ $-10.783M ▲ $24.353M ▲
Q2-2024 $7.296M $-39.543M $-37.705M $-81.131M $-158.379M $-39.763M

Five-Year Company Overview

Income Statement

Income Statement HarborOne’s income picture shows steady but not spectacular progress. Revenue has generally trended upward over the last few years, though it’s still below its best year. Profit margins were stronger earlier in the period and have since compressed, which is common for regional banks dealing with changing interest rates and higher funding costs. Net income and earnings per share peaked a few years ago, then pulled back, with a modest recovery more recently but still below prior highs. Overall, the business looks solidly profitable, but not immune to industry pressure on spreads and costs.

Balance Sheet

Balance Sheet The balance sheet shows a bank that has grown gradually in size while keeping its equity base fairly stable. Assets have expanded at a measured pace, suggesting controlled growth rather than aggressive expansion. Debt levels have risen from earlier years, which points to higher reliance on borrowings or wholesale funding, a factor to watch in a higher-rate environment. Cash and liquid resources are steady but not excessive, typical for a regional bank. In simple terms, the balance sheet looks sound but somewhat more leveraged than in the past.

Cash Flow

Cash Flow Cash generation has been uneven, which is not unusual for a bank, but the pattern is worth noting. Operating and free cash flow were weak or negative earlier in the period, then quite strong for a time, and have recently softened again. Investment in physical assets has been modest, reflecting a business that is more about systems and people than heavy equipment. The main message is that cash flows can swing from year to year with changes in lending, deposit flows, and interest rates, so single-year figures should be viewed in context rather than in isolation.

Competitive Edge

Competitive Edge HarborOne competes as a community-focused regional bank with deep roots in its New England markets. Its edge comes less from scale and more from relationships: long-standing local presence, personalized service, and a diversified loan book across commercial and consumer segments. Education-driven programs for individuals and small businesses, along with workplace banking, help differentiate it from larger national banks. However, it operates in a crowded field that includes big banks and digital-first players, so maintaining its niche and customer loyalty is critical. The planned merger with Eastern Bankshares, if completed as expected, could materially reshape its scale and positioning, bringing both opportunity and integration risk.

Innovation and R&D

Innovation and R&D While banks don’t do traditional R&D, HarborOne has been active in practical innovation. It uses data analytics partnerships to better understand customers and tailor products, and it offers a robust digital platform for business clients, including advanced cash management and fraud-prevention tools. The bank is upgrading its technology stack under a new CIO, emphasizing cloud migration and automation to improve efficiency and agility. On the customer side, its HarborOne U education platform, small-business “Voyage” resources, and linked loan programs are distinctive offerings that blend community support with customer acquisition. The newer wealth management partnership aims to deepen relationships with more affluent customers and diversify revenue beyond traditional lending and deposits.

Summary

Overall, HarborOne looks like a steady, community-oriented regional bank that has grown carefully and stayed profitable, but with earnings pressured compared with its best recent years. The balance sheet appears generally solid, though more reliant on debt than in the past, and cash flows fluctuate with the banking cycle. Its competitive strengths lie in local relationships, educational outreach, small-business focus, and targeted technology investments, rather than sheer size. The upcoming merger with Eastern Bankshares is the major swing factor for its future profile—offering the potential for greater scale and capabilities, but also execution and integration risks that will be important to monitor over the next few years.

NEWS

September 26, 2025 · 4:40 PM UTC

Eastern Bankshares, Inc. And HarborOne Bancorp, Inc. Announce Regulatory Approvals Received To Merge

Read more

September 25, 2025 · 12:29 PM UTC

Eastern Bankshares, Inc. and HarborOne Bancorp, Inc. Announce Mailing of Stock/Cash Election Form

Read more