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Sep 30, 2020
HarborOne Q3 2020 Earnings Report
Reported net income of $11.9 million and EPS of $0.22, marking the best quarterly financial performance in HarborOne's history.
Key Takeaways
HarborOne Bancorp, Inc. reported a strong third quarter with net income topping $11.8 million, driven by historic levels of residential real estate mortgage originations and commercial loan growth.
Net income reached $11.9 million, with EPS at $0.22.
Return on average assets was 1.09%, and return on average equity was 6.90%.
Net interest margin expanded by 9 basis points to 3.09%.
Commercial loan growth was $104.3 million, a 5.3% increase.
Forward Guidance
The company expects interest rates to remain low and the economic environment to continue to be volatile as the impact of the COVID-19 pandemic is realized.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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