HarborOne Bancorp (HONE) Investor Presentation summary

Financial highlights and performance

• Reported Q3 2024 net income of $3.9 million and diluted EPS of $0.10, with tangible book value at $11.88.

• Total assets reached $5.8 billion and total loans $4.9 billion as of Q3 2024.

• Net interest margin improved to 2.33% in Q3 2024, up from 2.29% in Q2.

• Client deposits grew by $89.5 million (8.8% annualized) in Q3 2024.

• Repurchased 347,670 shares for $4.3 million during Q3 2024.

Capital, liquidity, and risk management

• Maintained strong capital ratios, with a tangible common equity ratio of 9.17% and Tier 1 leverage at 9.8%.

• Available funding sources totaled $1.4 billion, with immediate liquidity to uninsured deposits at 103%.

• Securities portfolio represents 5.1% of total assets, with minimal unrealized losses.

• Allowance for credit losses increased to $54.0 million, with an ACL rate of 1.11% for total loans.

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

Loan and deposit portfolio

• Commercial real estate loans comprise 48% of the $4.9 billion loan portfolio, with a conservative 61.7% average LTV.

• Residential 1-4 family loans account for 31%, C&I for 11%, and construction for 6%.

• Commercial loans grew from $2.1 billion in 2020 to $3.1 billion in Q3 2024.

• Deposit base is diversified, with 24% in CDs, 26% in money market, and 22% in DDA/NOW accounts.

• Cost of deposits increased to 2.68% in Q3 2024; Boston market deposits up 46% year-over-year.