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Sep 30, 2021
HarborOne Q3 2021 Earnings Report
Net income decreased slightly but remained strong, commercial loan growth continued, and cost of funds declined.
Key Takeaways
HarborOne Bancorp, Inc. reported a net income of $12.3 million, or $0.24 per diluted share, for the third quarter of 2021. Commercial loan growth, excluding PPP loans, was $52.8 million, or 2.6%.
Net income was $12.3 million, or $0.24 per diluted share.
Commercial loan growth of $52.8 million, or 2.6%, excluding PPP loans.
Reversal of provision of $1.6 million, reflecting positive pandemic and economic trends.
Completed second share repurchase program and approved third share repurchase program.
Forward Guidance
Although interest rates may begin to rise moving into 2022, the positive impact of the recognition of deferred loan fees on PPP loan forgiveness will diminish, resulting in continued margin pressure.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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