Harborone Bancorp, Inc. Reports Unaudited Consolidated Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2017; Reports Net Charge Offs for the Fourth Quarter of 2017
January 26, 2018 at 09:06 am
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HarborOne Bancorp, Inc. reported unaudited consolidated earnings results for the fourth quarter and full year ended December 31, 2017. For the quarter, the company reported total interest and dividend income of USD 23.809 million compared to USD 20.049 million a year ago. Net interest and dividend income was USD 19.432 million compared to USD 16.555 million a year ago. Income before income taxes was USD 3.133 million compared to USD 5.020 million a year ago. Net income was USD 1.593 million compared to USD 2.936 million a year ago. Basic and diluted earnings per share was USD 0.09 compared to USD 0.09. Return on average assets was 0.24% compared to 0.49% a year ago. Return on average equity was 1.87% compared to 3.56% a year ago. Book value per share was USD 10.52. Tangible book value per share was USD 10.11.
For the full year, the company reported total interest and dividend income of USD 90.284 million compared to USD 15.528 million a year ago. Net interest and dividend income was USD 74.348 million compared to USD 13.353 million a year ago. Income before income taxes was USD 17.052 million compared to USD 7.824 million a year ago. Net income was USD 10.379 million compared to USD 4.448 million a year ago. Basic and diluted earnings per share was USD 0.33.
For the fourth quarter of 2017, the company reported net charge offs of USD 0.204 million compared to USD 0.320 million a year ago.
HarborOne Bancorp, Inc. is the bank holding company for HarborOne Bank (the Bank). Its segments include HarborOne Bank and HarborOne Mortgage. The Bank segment provides consumer and business banking products and services to individuals, businesses and municipalities. Consumer products include loan and deposit products, and business banking products include loans for working capital, inventory and general corporate use, commercial real estate construction loans, and deposit accounts. The HarborOne Mortgage segment consists of originating residential mortgage loans primarily for sale in the secondary market and the servicing of those loans. It provides a variety of financial services to individuals and businesses through its 30 full-service bank branches, and a commercial lending office in each of Boston and Providence. It also provides a range of educational services through HarborOne U, with digital content, webinars, and recordings for small business and personal financial education.
Harborone Bancorp, Inc. Reports Unaudited Consolidated Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2017; Reports Net Charge Offs for the Fourth Quarter of 2017
HARBORONE BANCORP, INC. 
