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Mar 31, 2021
HarborOne Q1 2021 Earnings Report
Net income and EPS increased driven by strong mortgage banking income and deposit growth.
Key Takeaways
HarborOne Bancorp reported a strong first quarter with net income of $19.4 million, or $0.37 per share. The results reflect increased mortgage banking income and deposit growth, while also managing COVID-19 related expenses.
Reported EPS of $0.37 per share, up 12% on a linked quarter basis.
Increased quarterly dividend by approximately 67%, to $0.05 per share.
Recorded a provision expense of $91,000, reflecting a stabilizing outlook, loan growth and minimal charge-offs.
Improved return on average assets to 1.73% and improved return on average equity to 11.13%.
Revenue by Segment
Forward Guidance
The uptick in mortgage rates and low for-sale inventory is expected to dampen the results of HarborOne Mortgage, LLC during the remainder of 2021 as compared to 2020.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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