HarborOne Bancorp (HONE) Investor Presentation summary

Financial performance and key metrics

• Net income reached $5.5 million in Q1 2025, with diluted EPS of $0.14 and a net interest margin of 2.39%.

• Client deposits increased by $79.6 million, or 1.9%, quarter-over-quarter, while the loans-to-deposits ratio improved to 104.38%.

• Tangible book value per share rose to $11.90, and the quarterly dividend increased by 12.5% to $0.09 per share.

• Repurchased 513,855 shares totaling $5.9 million in Q1 2025.

• Total assets stood at $5.7 billion, with total loans at $4.8 billion and total deposits at $4.6 billion as of March 31, 2025.

Loan portfolio and asset quality

• Commercial & Industrial loans grew by $33 million (5.6%) quarter-over-quarter, while commercial real estate loans declined by $7.8 million (0.34%).

• Residential mortgage balances decreased by $18.9 million (1.2%) due to seasonally low home buying activity.

• Non-performing assets were $5.9 million in Q1 2025, with an NPA/assets ratio of 0.16%.

• Allowance for credit losses decreased due to an $8.3 million charge-off in Q1 2025.

• Top 5 classified relationships are concentrated in CRE-office and healthcare sectors.

Commercial and real estate lending

• C&I and small business loans grew 33% since Q1 2024, with a delinquency rate of 0.72%.

• Top 20 C&I obligors have a weighted average DSCR of ~2.28x.

• CRE portfolio totals $2.5 billion, with 14% owner-occupied and a delinquency rate of 0.35%.

• Top 20 CRE obligors have a weighted average DSCR of 1.31x and LTV of 59%.

• Multifamily CRE portfolio ($460 million) has no delinquencies and focuses on properties rated 3 stars or better.