HarborOne Bancorp (HONE) Investor Presentation summary

Company overview and strategy

• Operates as a New England-focused banking franchise with $5.8B in assets, 30 banking centers, and a strong presence in Metro Boston, Southeast Massachusetts, and Rhode Island.

• Emphasizes organic growth, customer primacy, and modernization of banking centers, with a customer-centric mission and deep community engagement.

• Recognized for financial and personal enrichment education through HarborOne U, offering resources for both consumers and small businesses.

• Maintains a seasoned management team, strong capital position, and ongoing stock buybacks and dividend growth.

• Mission centers on personalized service, integrity, and community commitment.

Financial performance and key metrics

• Q3 2024 net income was $3.9M with diluted EPS of $0.10; tangible book value per share reached $11.88.

• Total assets at $5.8B, total loans at $4.9B, and total deposits at $4.5B as of Q3 2024.

• Net interest margin increased to 2.33% in Q3 2024; net interest income for YTD 2024 was $93.8M.

• Repurchased 347,670 shares for $4.3M in Q3 2024.

• Maintains strong capital ratios, with a tangible common equity ratio of 9.17%.

Loan portfolio and asset quality

• Loan portfolio totals $4.9B, with 48% in CRE, 31% in residential 1-4 family, and 11% in C&I.

• C&I loans grew 10% quarter-over-quarter and 18% year-to-date; CRE declined slightly.

• Nonperforming assets rose to 0.49% of total assets in Q3 2024, up from 0.17% in Q2.

• Allowance for credit losses at 1.11% of loans; early intervention and aggressive workout teams help manage delinquencies.

• Top 5 substandard relationships are all paying as agreed, with updated appraisals and specific reserves as needed.