HarborOne Bancorp (HONE) Investor Presentation summary

Financial performance and key metrics

• Reported Q4 2024 net income of $8.9 million and diluted EPS of $0.21, with an efficiency ratio improvement to 71.8% from 75.6%.

• Average client deposits rose $62.9 million (6.1% annualized) quarter-over-quarter; cost of deposits decreased 6 bps to 2.62%.

• Net interest margin held steady at 2.36%; tangible book value per share at $11.78.

• Repurchased 394,457 shares for $5.0 million in Q4 2024; ongoing buyback program and 6.7% dividend increase in Q1 2024.

• Remains well capitalized with a strong tangible capital ratio of 9.05% and capital ratios above regulatory minimums.

Loan portfolio and asset quality

• Total loans at $4.9 billion; portfolio mix: 47% CRE, 32% residential, 12% C&I, 5% construction, 4% consumer.

• C&I loans grew 8.1% quarter-over-quarter and 27.4% year-to-date; CRE loans declined 1.8% quarter-over-quarter.

• Non-performing assets at $29.5 million (0.49% of assets); allowance for credit losses at 1.16% of loans.

• CRE & construction portfolio: $2.5 billion, with 14% owner-occupied; top 20 CRE obligors have 1.40x DSCR and 56% LTV.

• Multifamily portfolio ($469 million) has no delinquencies; focus on properties rated 3 stars or better.

Deposits, liquidity, and market position

• Total deposits at $4.6 billion; loan-to-deposit ratio improved to 106.63%.

• Ranked top 5 in over 50% of markets served, gaining share in 18 of 23 markets; strong household tenure.

• Uninsured deposits at $747 million (16% of total); immediately available liquidity covers 188% of uninsured deposits.

• Average deposits in Boston market increased 5% year-over-year; checking production up 37% in Brockton area.