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Sep 30, 2024
HarborOne Q3 2024 Earnings Report
Net income decreased due to credit loss provision, primarily from a suburban office commercial real estate credit.
Key Takeaways
HarborOne Bancorp reported a net income of $3.9 million, or $0.10 per diluted share, for the third quarter of 2024. The results were impacted by a credit loss provision of $5.9 million.
Net income was $3.9 million, or $0.10 per diluted share.
Loan growth of $40.3 million, or 3.3% annualized.
Client deposit growth of $89.5 million, or 8.8% annualized.
Net interest margin improved to 2.33% from 2.29% on a linked-quarter basis.
Forward Guidance
Balance sheet is positioned for margin improvement from declining cost of funds enabled by lower market interest rates.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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