HarborOne Bancorp, Inc. Reports Unaudited Consolidated Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2016; Reports Net Charge Offs for the Fourth Quarter of 2016
January 27, 2017 at 07:21 pm IST
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HarborOne Bancorp, Inc. reported unaudited consolidated earnings results for the fourth quarter and full year ended December 31, 2016. For the quarter, the company reported total interest and dividend income of USD 20.049 million compared to USD 17.440 million a year ago. Net interest and dividend income was USD 16.555 million compared to USD 13.889 million a year ago. Income before income taxes was USD 5.020 million compared to USD 2.403 million a year ago. Net income was USD 2.936 million compared to USD 1.543 million a year ago. Basic and diluted earnings per share was USD 0.09. Return on average assets was 0.49% compared to 0.29% a year ago. Return on average equity was 3.56% compared to 3.20% a year ago. Book value per share was USD 10.25. Tangible book value per share was USD 9.83%.
For the full year, the company reported total interest and dividend income of USD 74.756 million compared to USD 66.800 million a year ago. Net interest and dividend income was USD 60.995 million compared to USD 52.225 million a year ago. Income before income taxes was USD 9.228 million compared to USD 8.327 million a year ago. Net income was USD 5.931 million compared to USD 5.768 million a year ago.
For the fourth quarter of 2016, the company reported net charge offs of USD 0.320 million compared to USD 0.318 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, 2016; Reports Net Charge Offs for the Fourth Quarter of 2016
HARBORONE BANCORP, INC. 
