HarborOne Bancorp (HONE) Earnings Call Presentation

Financial Performance - HarborOne Bancorp reported a net income of $7.3 million in Q2 2024, with diluted earnings per share (EPS) at $0.18[8] - The bank experienced loan growth of $62.5 million, representing an annualized growth rate of 5.2%[8] - Client deposits grew by $66.9 million, or 6.7% annualized[8] - The net interest margin increased from 2.25% in Q1 2024 to 2.31% in Q2 2024[8] Balance Sheet Highlights - Total assets reached $5.8 billion[6] - Total loans amounted to $4.8 billion[6] - Total deposits stood at $4.5 billion[6] Capital Management - The company repurchased 671,453 shares at an average cost of $10.34 per share, totaling $6.9 million in Q2 2024[8] - HarborOne has a strong tangible capital ratio of 9.03%[25] Loan Portfolio - The loan portfolio is diversified, with commercial real estate (CRE) comprising 49%, residential mortgages 32%, and commercial & industrial (C&I) loans 10% of the $4.8 billion portfolio[33] - Commercial loans grew from $2.1 billion in 2020 to $3.1 billion as of Q2 2024[36] Deposit Base - 75% of deposit balances have been with the bank for over 5 years[60] - Business accounts represent 16% of total deposits[63]