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Dec 31, 2024
HarborOne Q4 2024 Earnings Report
Reported a strong fourth quarter with increased net income and continued deposit growth.
Key Takeaways
HarborOne Bancorp, Inc. reported a net income of $8.9 million, or $0.21 per diluted share, for the quarter ended December 31, 2024. This represents an increase of $5.0 million compared to the previous quarter. The results were partially driven by a $546,000 release of tax reserve for uncertain tax positions that were resolved.
Net income increased to $8.9 million, or $0.21 per diluted share, driven by a tax reserve release.
Net interest margin remained flat at 2.36% on a linked-quarter basis.
Average deposits, excluding brokered deposits, rose by $62.9 million, or 6.1% annualized, from the previous quarter.
HarborOne Mortgage generated a net income of $1.1 million, a significant improvement from the $1.1 million loss in the prior quarter.
Forward Guidance
The company is looking forward to carrying the positive momentum into 2025.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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