HarborOne Bancorp 10-Q 10 Aug 16 2016 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 30, 2016	Aug. 08, 2016
Document and Entity Information
Entity Registrant Name	HarborOne Bancorp, Inc.
Entity Central Index Key	1,668,224
Document Type	10-Q
Document Period End Date	Jun. 30, 2016
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Entity Current Reporting Status	Yes
Entity Filer Category	Non-accelerated Filer
Entity Common Stock, Shares Outstanding		32,120,880
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	Q2

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2016	Dec. 31, 2015
Assets
Cash and due from banks	$ 18,773	$ 18,153
Short-term investments	11,365	22,499
Total cash and cash equivalents	30,138	40,652
Securities available for sale, at fair value	121,957	128,541
Securities held to maturity, at amortized cost	50,504	63,579
Federal Home Loan Bank stock, at cost	13,078	18,735
Mortgage loans held for sale, at fair value	99,697	63,797
Loans, net of allowance for loan losses of $14,439 at June 30, 2016 and $13,700 at December 31, 2015	1,820,900	1,729,388
Accrued interest receivable	5,044	4,920
Other real estate owned and repossessed assets	1,761	2,347
Mortgage servicing rights, at fair value	12,688	12,958
Property and equipment, net	24,051	24,606
Retirement plan annuities	11,822	11,608
Bank-owned life insurance	38,883	38,333
Goodwill and other intangible assets	13,630	13,674
Other assets	22,605	10,004
Total assets	2,266,758	2,163,142
Deposits
Noninterest-bearing deposits	217,671	201,174
Interest-bearing deposits	1,492,563	1,490,038
Total deposits	1,710,234	1,691,212
Long-term borrowed funds	195,096	249,598
Mortgagors' escrow accounts	4,273	4,486
Accrued interest payable	469	546
Deferred income taxes	1,578	989
Other liabilities and accrued expenses	30,818	25,623
Total liabilities	1,942,468	1,972,454
Commitments and contingencies (Notes 8 and 9)
Common stock, $0.01 par value; 90,000,000 shares authorized; 32,120,880 shares issued and outstanding at June 30, 2016	321
Additional paid-in capital	144,107
Retained earnings	190,723	191,280
Accumulated other comprehensive income (loss)	1,011	(592)
Unearned compensation - ESOP; 1,187,188 shares	(11,872)
Total stockholders' equity	324,290	190,688
Total liabilities and stockholders' equity	$ 2,266,758	$ 2,163,142

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Paranthetical) $ in Thousands	6 Months Ended
	Jun. 30, 2016USD ($)$ / sharesshares
Condensed Consolidated Statements of Financial Condition
Allowance for loan losses | $	$ 14,439
Common Stock, par value (in dollars per share) | $ / shares	$ 0.01
Common stock, shares authorized	90,000,000
Common Stock, shares issued	32,120,880
Common Stock, shares outstanding	32,120,880
Unallocated shares held by the ESOP	1,187,188

Consolidated Statements of Net

Consolidated Statements of Net Income (Loss) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Interest and dividend income:
Interest and fees on loans	$ 16,293	$ 14,608	$ 31,936	$ 28,975
Interest on loans held for sale	581	43	1,041	70
Interest on taxable securities	801	1,045	1,673	1,940
Interest on non-taxable securities	222	226	449	453
Other interest and dividend income	209	117	446	232
Total interest and dividend income	18,106	16,039	35,545	31,670
Interest expense:
Interest on deposits	2,165	2,141	4,335	4,279
Interest on borrowed funds	1,289	1,466	2,672	2,942
Total interest expense	3,454	3,607	7,007	7,221
Net interest and dividend income	14,652	12,432	28,538	24,449
Provision for loan losses	801	667	1,006	917
Net interest income, after provision for loan losses	13,851	11,765	27,532	23,532
Mortgage banking income:
Changes in mortgage servicing rights fair value	(2,163)	(165)	(4,451)	(340)
Other	13,770	688	23,091	1,266
Total mortgage banking income	11,607	523	18,640	926
Deposit account fees	2,928	2,820	5,675	5,374
Income on retirement plan annuities	108	173	214	381
Gain on sale of consumer loans	29		79
Gain on sale and call of securities, net	41		283	294
Bank-owned life insurance income	274	302	550	597
Other income	901	370	1,509	878
Total noninterest income	15,888	4,188	26,950	8,450
Noninterest expenses:
Compensation and benefits	16,407	8,050	31,925	15,539
Occupancy and equipment	2,463	1,932	5,247	4,651
Data processing expenses	1,446	1,342	2,860	2,702
Loan expenses	2,128	380	3,720	583
Marketing	607	441	1,172	805
Deposit expenses	370	337	729	657
Postage and printing	301	269	647	547
Professional fees	602	468	1,179	895
Prepayment penalties on Federal Home Loan Bank advances	400		400	345
Foreclosed and repossessed assets	127	151	72	210
Deposit insurance	418	424	821	848
Charitable foundation contributions	4,820		4,820
Other expenses	1,080	809	2,134	1,685
Total noninterest expenses	31,169	14,603	55,726	29,467
Income (loss) before income taxes	(1,430)	1,350	(1,244)	2,515
Income tax provision (benefit)	(749)	290	(687)	534
Net income (loss)	$ (681)	$ 1,060	$ (557)	$ 1,981

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income (Loss) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Consolidated Statements of Comprehensive Income (Loss)
Net income (loss)	$ (681)	$ 1,060	$ (557)	$ 1,981
Supplemental director retirement plan:
Reclassification adjustment for amortization of prior service cost	36	69	117	159
Related tax effect	(24)	(20)	(46)	(40)
Net-of-tax amount	12	49	71	119
Securities available for sale:
Unrealized holding gains (losses)	842	(1,120)	2,635	248
Reclassification adjustment for net realized gains	(41)		(283)	(294)
Net unrealized gains (losses)	801	(1,120)	2,352	(46)
Related tax effect	(278)	390	(820)	16
Net-of-tax amount	523	(730)	1,532	(30)
Total other comprehensive income (loss)	535	(681)	1,603	89
Comprehensive income (loss)	$ (146)	$ 379	$ 1,046	$ 2,070

Consolidated Statements of Com6

Consolidated Statements of Comprehensive Income (Parenthetical) - USD ($)	3 Months Ended	6 Months Ended
	Jun. 30, 2016	Jun. 30, 2016	Jun. 30, 2015
Consolidated Statements of Comprehensive Income (Loss)
Income tax expense on reclassifications for securities available for sale	$ 14,000	$ 94,000	$ 117,000

Consolidated Statements of Chan

Consolidated Statements of Changes in Stockholders' Equity - USD ($) $ in Thousands	Common StockIPO	Common StockPrivate Placement	Common Stock	Additional Paid-in CapitalIPO	Additional Paid-in CapitalPrivate Placement	Additional Paid-in Capital	Retained Earnings	Accumulated Other Comprehensive Income (Loss)	Unearned Paid-In ESOP	IPO	Private Placement	Total
Balance, beginning of period at Dec. 31, 2014							$ 183,875	$ (417)				$ 183,458
Comprehensive income							1,981	89				2,070
Balance, end of period at Jun. 30, 2015							187,493	(328)				187,165
Change in accounting principle, net of tax							1,637					1,637
Balance, beginning of period at Dec. 31, 2015							191,280	(592)				190,688
Comprehensive income							(557)	1,603				1,046
Issuance of common stock	$ 145	$ 4	$ 172	$ 140,256	$ 3,851					$ 140,401	$ 3,855	$ 172
Issuance of common stock (in shares)	14,454,396	385,450	17,281,034									32,120,880
Purchased of 1,187,188 shares by the ESOP									$ (11,872)			$ (11,872)
Balance, end of period at Jun. 30, 2016			$ 321			$ 144,107	$ 190,723	$ 1,011	$ (11,872)			$ 324,290
Balance, end of period (in shares) at Jun. 30, 2016			32,120,880									32,120,880

Consolidated Statements of Cha8

Consolidated Statements of Changes in Stockholders' Equity (Parenthetical) - USD ($)	Jun. 29, 2016	Jun. 30, 2016
Consolidated Statements of Changes in Retained Earnings
Offering Costs	$ 3,870,000	$ 3,870,000
Unallocated shares held by the ESOP	1,187,188	1,187,188

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($)	6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015
Cash flows from operating activities:
Net income (loss)	$ (557,000)	$ 1,981,000
Adjustments to reconcile net income (loss) to net cash used by operating activities:
Provision for loan losses	1,006,000	917,000
Net amortization of securities premiums/discounts	381,000	526,000
Net amortization of net deferred loan costs/fees and premiums	3,155,000	3,690,000
Depreciation and amortization of premises and equipment	1,272,000	1,246,000
Change in mortgage servicing rights fair value	4,451,000	340,000
Mortgage and consumer servicing rights capitalized	(4,238,000)	(241,000)
Amortization of consumer servicing rights	35,000	42,000
Accretion of fair value adjustment on loans and deposits, net	(109,000)	(47,000)
Amortization of intangible assets	44,000	92,000
Gain on sale and call of securities, net	(283,000)	(294,000)
Bank-owned life insurance income	(550,000)	(597,000)
Income on retirement plan annuities	(214,000)	(381,000)
Gain on sale of portfolio loans	(365,000)
Net (gain) loss on sale and write-down of other real estate owned and repossessed assets	(93,000)	29,000
Deferred income tax provision (benefit)	(159,000)	1,386,000
Issuance of common stock to the HarborOne Foundation	3,855,000
Net change in:
Mortgage loans held for sale	(35,900,000)	(1,516,000)
Other assets and liabilities, net	(7,584,000)	(28,041,000)
Net cash used by operating activities	(35,853,000)	(20,868,000)
Activity in securities available for sale:
Maturities, prepayments, and calls	14,408,000	19,308,000
Purchases	(14,164,000)	(42,683,000)
Sales	8,735,000	3,367,000
Activity in securities held to maturity:
Maturities, prepayment, and calls	12,933,000	2,218,000
Purchases		(9,947,000)
Net (purchase) redemption of FHLB stock	5,657,000	(690,000)
Redemption of retirement plan annuities		13,087,000
Proceeds from sale of portfolio loans	39,831,000
Loan originations, net of principal payments	(135,701,000)	(80,937,000)
Proceeds from sale of other real estate owned and repossessed assets	1,349,000	1,008,000
Additions to property and equipment	(717,000)	(484,000)
Net cash used by investing activities	(67,669,000)	(95,753,000)
Cash flows from financing activities:
Net increase in deposits	19,022,000	162,531,000
Net change in borrowed funds with maturities less than ninety days		(50,000,000)
Proceeds from other borrowed funds	20,000,000	45,000,000
Repayment of other borrowed funds	(74,502,000)	(25,002,000)
Net change in mortgagors' escrow accounts	(213,000)	(52,000)
Issuance of common stock	140,573,000
Purchase of shares by ESOP	(11,872,000)
Net cash provided by financing activities	93,008,000	132,477,000
Net change in cash and cash equivalents	(10,514,000)	15,856,000
Cash and cash equivalents at beginning of year	40,652,000	52,983,000
Cash and cash equivalents at end of year	30,138,000	68,839,000
Supplemental cash flow information:
Interest paid on deposits	4,335,000	4,288,000
Interest paid on borrowed funds	2,754,000	2,948,000
Income taxes paid	1,506,000	958,000
Transfer of loans to other real estate owned and repossessed assets	$ 671,000	1,134,000
Increase in MSRs due to change in accounting principle		$ 2,726,000

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	6 Months Ended
	Jun. 30, 2016
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation and Consolidation The unaudited interim Consolidated Financial Statements of HarborOne Bancorp, Inc. (the “Company”) presented herein have been prepared pursuant to the rules of the Securities and Exchange Commission (“SEC”) for quarterly reports on Form 10-Q and do not include all of the information and note disclosures required by the U.S. generally accepted accounting principles (“GAAP”). In the opinion of management, all adjustments and disclosures considered necessary for the fair presentation of the accompanying Consolidated Financial Statements have been included. Interim results are not necessarily reflective of the results of the entire year. The accompanying unaudited interim Consolidated Financial Statements should be read in conjunction with the audited Consolidated Financial Statements for the years ended December 31, 2015 and 2014 and notes thereto included in the Company’s prospectus, filed with the SEC pursuant to Rule 424(b)(3) under the Securities Act of 1933, as amended, on May 18, 2016. The unaudited interim Consolidated Financial Statements include the accounts of the Company, HarborOne Bank (the “Bank”) and the Bank’s wholly-owned subsidiaries. The Bank’s subsidiaries consist of a mortgage company and two security corporations. Merrimack Mortgage Company, LLC (“Merrimack Mortgage”) was acquired and became a wholly-owned subsidiary of the Bank on July 1, 2015. The security corporations were established for the purpose of buying, holding and selling securities on their own behalf. The Company established a security corporation on July 13, 2016 for the same purpose. All significant intercompany balances and transactions have been eliminated in consolidation. Stock Conversion On June 29, 2016, the Bank reorganized into a two-tier mutual holding company structure with a mid-tier stock holding company. The Company sold 14,454,396 shares of common stock at $10.00 per share, including 1,187,188 shares purchased by the Company’s Employee Stock Ownership Plan (“ESOP”). In addition, the Company issued 17,281,034 shares to HarborOne Mutual Bancshares, the Company’s mutual holding company parent (the “MHC”) and 385,450 shares to The HarborOne Foundation (“Foundation”), a charitable foundation that was formed in connection with the stock offering and is dedicated to supporting charitable organizations operating in the Bank’s local community. A total of 32,120,880 shares of common stock were outstanding following the completion of the stock offering. The direct costs of the Company’s stock offering of $3,870,000 were deferred and deducted from the proceeds of the offering. Upon the completion of the stock offering, a special “liquidation account” was established for the benefit of certain depositors of the Bank in an amount equal to the percentage ownership interest in the equity of the Company held by persons other than the MHC as of the date of the latest balance sheet contained in the prospectus. The Company is not permitted to pay dividends on its capital stock if the Company’s shareholders’ equity would be reduced below the amount of the liquidation account. The liquidation account will be reduced annually to the extent that eligible account holders have reduced their qualifying deposits. Subsequent increases in an eligible account holder’s qualifying deposits will not restore such holder’s interest in the liquidation account. Nature of Operations The Bank, originally established in 1917 as a state-chartered credit union, converted to a state-chartered co-operative bank on July 1, 2013. The Bank provides a variety of financial services to individuals and businesses through its fourteen full-service and two limited-service bank offices in eastern Massachusetts, a commercial lending office in Providence, Rhode Island and a residential loan office in Westford, Massachusetts. Merrimack Mortgage maintains 33 offices in Massachusetts, New Hampshire, Connecticut and Maine, and is also licensed to lend in five additional states. The Company’s primary deposit products are checking, money market, savings and term certificate of deposit accounts while its primary lending products are commercial real estate, commercial, residential mortgages and consumer loans, including indirect automobile lending. The Company also originates, sells and services residential mortgage loans primarily through Merrimack Mortgage. Use of Estimates In preparing unaudited interim Consolidated Financial Statements in conformity with GAAP, management is required to make estimates and assumptions that affect the reported amounts of assets and liabilities as of the date of the balance sheet and reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Material estimates that are particularly susceptible to significant change in the near term relate to the determination of the allowance for loan losses, the valuations of mortgage servicing rights, derivatives, goodwill and deferred tax assets. Allowance for Loan Losses The allowance for loan losses is established as losses are estimated to have occurred through a provision for loan losses charged to earnings. Loan losses are charged against the allowance when management believes the uncollectibility of a loan balance is confirmed and generally do not exceed the time frame provided in The Uniform Retail Credit Classification and Account Management Policy. Subsequent recoveries, if any, are credited to the allowance. The allowance for loan losses is evaluated on a regular basis by management. This evaluation is inherently subjective as it requires estimates that are susceptible to significant revision as more information becomes available. The allowance consists of general, allocated and unallocated components, as further described below. General component The general component of the allowance for loan losses is based on historical loss experience adjusted for qualitative factors stratified by the Company’s loan segments. Management uses a rolling average of historical losses based on a time frame appropriate to capture relevant loss data for each loan segment. Adjustments to this historical loss factor are considered for the following qualitative factors: levels/trends in delinquencies; trends in volume and terms of loans; effects of changes in risk selection and underwriting standards and other changes in lending policies, procedures and practices; experience/ability/depth of lending management and staff; and national and local economic trends and conditions. There were no changes in the Company’s policies or methodology pertaining to the general component of the allowance for loan losses during 2015 or the six months ended June 30, 2016. The qualitative factors are determined based on the various risk characteristics of each loan segment. Risk characteristics relevant to each portfolio segment are as follows: Residential real estate – The Company generally does not originate portfolio loans with a loan-to-value ratio greater than 80 percent without obtaining private mortgage insurance and does not generally grant loans that would be classified as subprime upon origination. The Company generally has first or second liens on property securing equity lines of credit. Loans in this segment are generally collateralized by residential real estate and repayment is dependent on the credit quality of the individual borrower. The overall health of the economy, including unemployment rates and housing prices, can have an effect on the credit quality in this segment. Commercial real estate – Loans in this segment are primarily secured by income-producing properties in southeastern New England. The underlying cash flows generated by the properties can be adversely impacted by a downturn in the economy as evidenced by increased vacancy rates, which in turn, could have an effect on the credit quality in this segment. Management obtains rent rolls annually and continually monitors the cash flows of these loans. Construction – Loans in this segment include both residential and commercial construction loans. Residential construction loans include loans to build one - to four-family owner-occupied properties, which are subject to the same credit quality factors as residential real estate loans. Commercial construction loans may include speculative real estate development loans for which payment is derived from sale of the property. Credit risk is affected by cost overruns, time to sell at an adequate price, and market conditions. Commercial – Loans in this segment are made to businesses and are generally secured by assets of the business. Repayment is expected from the cash flows of the business. A weakened economy, and resultant decreased consumer spending, could have an effect on the credit quality in this segment. Consumer – Loans in this segment are generally secured by automobiles or unsecured and repayment is dependent on the credit quality of the individual borrower. Allocated component The allocated component relates to loans that are classified as impaired. Residential real estate, commercial, commercial real estate and construction loans are evaluated for impairment on a loan-by-loan basis. Impairment is determined by nonaccrual status, whether a loan is subject to a troubled debt restructuring agreement or in the case of certain loans, based on the internal credit rating. Large groups of smaller balance homogeneous loans are collectively evaluated for impairment. Accordingly, except for troubled debt restructuring (“TDR”), the Company does not separately identify individual consumer loans for impairment evaluation. A loan is considered impaired when, based on current information and events, it is probable that the Company will be unable to collect the scheduled payments of principal or interest when due according to the contractual terms of the loan agreement. Factors considered by management in determining impairment include payment status, collateral value, and the probability of collecting scheduled principal and interest payments when due. Loans that experience insignificant payment delays and payment shortfalls generally are not classified as impaired. Management determines the significance of payment delays and payment shortfalls on a case-by-case basis, taking into consideration all of the circumstances surrounding the loan and the borrower, including the length of the delay, the reasons for the delay, the borrower’s prior payment record, and the amount of the shortfall in relation to the principal and interest owed. The Company periodically may agree to modify the contractual terms of loans. When a loan is modified and a concession is made to a borrower experiencing financial difficulty, the modification is considered a TDR. All TDRs are initially classified as impaired. Impairment is measured by either the present value of expected future cash flows discounted at the loan’s effective interest rate or the fair value of the collateral if the loan is collateral dependent. An allowance is established when the discounted cash flows or collateral value of the impaired loan is lower than the carrying value of that loan. Unallocated component An unallocated component is maintained to cover uncertainties that could affect management’s estimate of probable losses. The unallocated component of the allowance reflects the margin of imprecision inherent in the underlying assumptions used in the methodologies for estimating allocated and general reserves in the portfolio. Employee Stock Ownership Plan Compensation expense for the Company’s ESOP is recorded at an amount equal to the shares allocated by the ESOP multiplied by the average fair market value of the shares during the year. The Company recognizes compensation expense ratably over the year based upon the Company’s estimate of the number of shares expected to be allocated by the ESOP. The difference between the average fair market value and the cost of the shares allocated by the ESOP is recorded as an adjustment to additional paid in capital. Recent Accounting Pronouncements As an “emerging growth company” as defined in Title 1 of the Jumpstart Our Business Startups (JOBS) Act, the Company has elected to use the extended transition period to delay the adoption of new or reissued accounting pronouncements applicable to public companies until such pronouncements are made applicable to private companies. As of June 30, 2016, there is no significant difference in the comparability of the financial statements as a result of this extended transition period. In June 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2016-13, Financial Instruments—Credit Losses (Topic 326) , which requires entities to measure all expected credit losses for financial assets held at the reporting date based on historical experience, current conditions, and reasonable and supportable forecasts. Entities will now use forward-looking information to better form their credit loss estimates. The ASU also requires enhanced disclosures to help financial statement users better understand significant estimates and judgments used in estimating credit losses, as well as the credit quality and underwriting standards of an entity’s portfolio. For public entities that are SEC filers, this ASU is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2019. For public entities that are not SEC filers, this ASU is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2020. For non-public entities, this ASU is effective for fiscal years beginning after December 15, 2020, and for interim periods within fiscal years beginning after December 15, 2021. Early application will be permitted for all entities for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2018. Management is currently evaluating the impact of adopting this ASU on the Consolidated Financial Statements. In March 2016, the FASB issued ASU 2016-09, Compensation-Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting . This update makes several modifications to Topic 718 related to the accounting for forfeitures, employer tax withholding on share-based compensation and the financial statement presentation of excess tax benefits or deficiencies. ASU 2016-09 also clarifies the statement of cash flows presentation for certain components of share-based awards. The standard is effective for interim and annual reporting periods beginning after December 15, 2016. Early adoption is permitted. We are currently evaluating the impact of adopting the new guidance on the Company’s Consolidated Financial Statements. In February 2016 , the FASB issued ASU 201 6 -0 2 , Leases (Topic 842) . This update requires a lessee to record a right-to-use asset and a liability representing the obligation to make lease payments for long-term leases. For public business entities this update is effective for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years. For non-public business entities this update is effective for fiscal years beginning after December 15, 2019, and interim periods within those fiscal years beginning after December 15, 2020. Management is currently evaluating the impact of adopting this update to the Consolidated Financial Statements . In January 2016, the FASB issued ASU 2016-01, Financial Instruments – Overall, (Subtopic 825-10). The amendments in this update address certain aspects of recognition, measurement, presentation, and disclosure of financial instruments. Targeted improvements to generally accepted accounting principles include the requirement for equity investments (except those accounted for under the equity method of accounting or those that result in consolidation of the investee) to be measured at fair value with changes in fair value recognized in net income, the elimination of the requirement for non-public business entities to disclose the fair value of financial instruments measured at amortized cost and the elimination of the requirement for public business entities to disclose the methods and significant assumptions used to estimate the fair value for financial instruments measured at amortized cost. For public business entities, the amendments in this update are effective for fiscal years beginning after December 15, 2017, including interim periods within those fiscal years. For non-public business entities, the amendments in this update are effective for fiscal years beginning after December 15, 2018, and interim periods within fiscal years beginning after December 15, 2019. Management is currently evaluating the impact of adopting this update to the Consolidated Financial Statements. In May 2014, the FASB issued ASU 2014-09, Revenue from Contracts with Customers (Topic 606) . The amendments in this update create Topic 606, Revenue from Contracts with Customers , and supersede the revenue recognition requirements in Topic 605, Revenue Recognition , including most industry-specific revenue recognition guidance throughout the Industry Topics of the Codification. The core principle of Topic 606 is that an entity recognizes revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. To achieve the core principle, a company should apply a five step approach to revenue recognition. For public business entities, this ASU is effective for annual reporting periods, including interim periods, beginning after December 15, 2017. For non-public business entities, this ASU is effective for annual reporting periods beginning after December 31, 2018, and interim periods within fiscal years beginning after December 15, 2019. Early application is permitted, but only for annual reporting periods beginning after December 15, 2016. Management is currently evaluating the impact of adopting this update to the Consolidated Financial Statements .

SECURITIES

SECURITIES	6 Months Ended
	Jun. 30, 2016
SECURITIES
SECURITIES	2. SECURITIES The amortized cost and fair value of securities with gross unrealized gains and losses is as follows: Gross Gross Amortized Unrealized Unrealized Fair Cost Gains Losses Value (In thousands) June 30, 2016: Securities available for sale U.S. government and government-sponsored enterprise obligations $ $ $ — $ U.S. government-sponsored residential mortgage-backed securities U.S. government-sponsored collateralized mortgage obligations — SBA asset-backed securities — Total securities available for sale $ $ $ $ Securities held to maturity U.S. government-sponsored residential mortgage-backed securities $ $ $ — $ U.S. government-sponsored collateralized mortgage obligations — Municipal bonds — Total securities held to maturity $ $ $ — $ December 31, 2015: Securities available for sale U.S. government and government-sponsored enterprise obligations $ $ — $ $ U.S. government-sponsored residential mortgage-backed securities U.S. government-sponsored collateralized mortgage obligations SBA asset-backed securities Total securities available for sale $ $ $ $ Securities held to maturity U.S. government and government-sponsored enterprise obligations $ $ $ $ U.S. government-sponsored residential mortgage-backed securities U.S. government-sponsored collateralized mortgage obligations — Municipal bonds — Total securities held to maturity $ $ $ $ Two mortgage-backed securities with a combined fair value of $7.7 million are pledged as collateral for interest rate swap agreements as of June 30, 2016 (see Note 9). All of the U.S. government-sponsored collateralized mortgage obligations and residential mortgage-backed securities are pledged to secure advances with the Federal Home Loan Bank (“FHLB”) of Boston as of June 30, 2016 (see Note 6). The amortized cost and fair value of debt securities by contractual maturity at June 30, 2016 is as follows: Available for Sale Held to Maturity Amortized Fair Amortized Fair Cost Value Cost Value (In thousands) After 5 years through 10 years $ $ $ $ Over 10 years U.S. government-sponsored residential mortgage-backed securities U.S. government-sponsored collateralized mortgage obligations SBA asset-backed securities — — Total $ $ $ $ U.S. government-sponsored residential mortgage-backed securities, collateralized mortgage obligations and securities whose underlying assets are loans from the U.S. Small Business Administration (“SBA asset-backed securities”) have stated maturities of six to twenty-seven years; however, it is expected that such securities will have shorter actual lives due to prepayments. For the three months ended June 30, 2016 and 2015, there were no sales of securities available for sale. For the six months ended June 30, 2016 and 2015, proceeds from sales of securities available for sale amounted to $8,735,000 and $3,367,000 , respectively, and gross realized gains amounted to $242,000 and $186,000 , respectively. For the three months ended June 30, 2016, a $41,000 gain was recognized on securities called with an amortized cost of $10,725,000 . There were no securities called for the three months ended June 30, 2015. For the six months ended June 30, 2016 and 2015, gains of $ 41,000 and $108,000 , respectively, were recognized on securities called with an amortized cost of $15,725,000 and $5,000,000 , respectively. Information pertaining to securities with gross unrealized losses at June 30, 2016 and December 31, 2015 aggregated by investment category and length of time that individual securities have been in a continuous loss position follows: Less Than Twelve Months Twelve Months and Over Gross Gross Unrealized Fair Unrealized Fair Losses Value Losses Value (In thousands) June 30, 2016: Securities available for sale U.S. government-sponsored residential mortgage-backed securities $ $ $ $ December 31, 2015: Securities available for sale U.S. government and government-sponsored enterprise obligations $ $ $ — $ — U.S. government-sponsored residential mortgage-backed securities U.S. government-sponsored collateralized mortgage obligations — — SBA asset-backed securities — — $ $ $ $ Securities held to maturity U.S. government and government-sponsored enterprise obligations $ $ $ — $ — U.S. government-sponsored residential mortgage-backed securities — — $ $ $ $ Management evaluates securities for other-than-temporary impairment at each reporting period, and more frequently when economic or market concerns warrant such evaluation. At June 30, 2016, five debt securities with an amortized cost of $17,360,000 have unrealized losses with aggregate depreciation of 1.07% from the Company’s amortized cost basis. The unrealized losses on the Company’s securities were primarily caused by changes in interest rates. All of these investments are guaranteed by government-sponsored enterprises. Accordingly, it is expected that the securities would not be settled at a price less than the par value of the investment. Because the decline in fair value is attributable to changes in interest rates and not to credit quality, and because the Company does not intend to sell the investments and it is more likely than not that the Company will not be required to sell the investments before recovery of their amortized cost basis, which may be maturity, the Company does not consider these investments to be other-than-temporarily impaired at June 30, 2016 .

LOANS

LOANS	6 Months Ended
	Jun. 30, 2016
LOANS
LOANS	3. LOANS A summary of the balances of loans follows: June 30, December 31, 2016 2015 (In thousands) Residential real estate: One-to-four family $ $ Second mortgages and equity lines of credit Commercial real estate Construction Total mortgage loans on real estate Commercial Consumer loans: Auto Personal Total consumer loans Total loans Allowance for loan losses Net deferred loan costs Loans, net $ $ During the three and six months ended June 30, 2016, the Company sold indirect auto loans of $5,064,000 and $9,662,000 , respectively, and recognized gains of $56,000 and $106,000 , respectively. No indirect loans were sold during the six months ended June 30, 2015. The unpaid principal balance of indirect auto loans serviced for others was $40,181,000 and $40,370,000 at June 30, 2016 and December 31, 2015, respectively. The Company sold residential portfolio loans of $4,721,000 and $24,678,000 during the three and six months ended June 30, 2016, respectively. Included in mortgage banking income is gain on sale of $210,000 and $501,000, respectively. No residential loans were sold from the portfolio during the three and six months ended June 30, 2015. The Company has transferred a portion of its originated commercial real estate loans to participating lenders. The amounts transferred have been accounted for as sales and are therefore not included in the Company’s accompanying unaudited interim Consolidated Balance Sheets. The Company and participating lenders share ratably in cash flows and any gains or losses that may result from a borrower’s lack of compliance with contractual terms of the loan. The Company continues to service the loans on behalf of the participating lenders and, as such, collects cash payments from the borrowers, remits payments to participating lenders and disburses required escrow funds to relevant parties. At June 30, 2016 and December 31, 2015, the Company was servicing loans for participants aggregating $26,201,000 and $11,854,000 , respectively. Activity in the allowance for loan losses for the three and six months ended June 30, 2016 and 2015 and allocation of the allowance to loan segments at June 30, 2016 and December 31, 2015 follows: Mortgage Loans Commercial Residential Real Estate Construction Commercial Consumer Unallocated Total (In thousands) Balance at December 31, 2015 $ $ $ $ $ $ $ Provision (credit) for loan losses Charge-offs — — — Recoveries — — — Balance at June 30, 2016 $ $ $ $ $ $ $ Balance at December 31, 2014 $ $ $ $ $ $ $ Provision (credit) for loan losses Charge-offs — — — — Recoveries — — — Balance at June 30, 2015 $ $ $ $ $ $ $ Mortgage Loans Commercial Residential Real Estate Construction Commercial Consumer Unallocated Total (In thousands) Balance at March 31, 2016 $ $ $ $ $ $ $ Provision (credit) for loan losses Charge-offs — — — Recoveries — — — Balance at June 30, 2016 $ $ $ $ $ $ $ Balance at March 31, 2015 $ $ $ $ $ $ $ Provision (credit) for loan losses Charge-offs — — — — Recoveries — — — Balance at June 30, 2015 $ $ $ $ $ $ $ At June 30, 2016 Mortgage Loans Commercial Residential Real Estate Construction Commercial Consumer Unallocated Total (In thousands) Loans: Impaired loans $ $ — $ $ $ — $ — $ Non-impaired loans — Total loans $ $ $ $ $ $ — $ Allowance for loan losses: Impaired loans $ $ — $ — $ $ — $ — $ Non-impaired loans Total allowance for loan losses $ $ $ $ $ $ $ At December 31, 2015 Mortgage Loans Commercial Residential Real Estate Construction Commercial Consumer Unallocated Total (In thousands) Loans: Impaired loans $ $ $ $ $ — $ — $ Non-impaired loans — Total loans $ $ $ $ $ $ — $ Allowance for loan losses: Impaired loans $ $ $ — $ $ — $ — $ Non-impaired loans Total allowance for loan losses $ $ $ $ $ $ $ The following is a summary of past due and non-accrual loans at June 30, 2016 and December 31, 2015: 90 Days 30-59 Days 60-89 Days or More Total Loans on Past Due Past Due Past Due Past Due Non-accrual (In thousands) June 30, 2016 Residential real estate: One-to-four family $ $ $ $ $ Second mortgages and equity lines of credit Commercial real estate — — — Construction — — — — Commercial — Consumer: Auto Personal Total $ $ $ $ $ December 31, 2015 Residential real estate: One-to-four family $ $ $ $ $ Second mortgages and equity lines of credit Commercial real estate — — Construction — — Commercial — — Consumer: Auto Personal Total $ $ $ $ $ At June 30, 2016 and December 31, 2015, there were no loans past due 90 days or more and still accruing. The following information pertains to impaired loans: June 30, 2016 December 31, 2015 Unpaid Unpaid Recorded Principal Related Recorded Principal Related Investment Balance Allowance Investment Balance Allowance (In thousands) Impaired loans without a valuation allowance: Residential $ $ $ — $ $ $ — Commercial real estate — — — — Construction — — Commercial — — Total $ $ $ — $ $ $ — Impaired loans with a valuation allowance: Residential $ $ $ $ $ $ Commercial real estate — — — Commercial Total $ $ $ $ $ $ Three Months Ended June 30, 2016 Three Months Ended June 30, 2015 Interest Interest Average Interest Income Average Interest Income Recorded Income Recognized Recorded Income Recognized Investment Recognized on Cash Basis Investment Recognized on Cash Basis (In thousands) Residential $ $ $ $ $ $ Commercial real estate — — — Construction — — — Commercial Total $ $ $ $ $ $ Six Months Ended June 30, 2016 Six Months Ended June 30, 2015 Interest Interest Average Interest Income Average Interest Income Recorded Income Recognized Recorded Income Recognized Investment Recognized on Cash Basis Investment Recognized on Cash Basis (In thousands) Residential $ $ $ $ $ $ Commercial real estate — — Construction — Commercial Total $ $ $ $ $ $ Interest income recognized and interest income recognized on a cash basis in the table above represents interest income for the three and six months ended June 30, 2016 and 2015, not for the time period designated as impaired. No additional funds are committed to be advanced in connection with impaired loans. The following table sets forth trouble debt restructurings that were modified during the periods indicated: Pre-Modification Post-Modification Outstanding Outstanding Number of Recorded Recorded Contracts Investment Investment (In thousands) Three Months Ended June 30, 2016 Residential 2 $ 196 $ 232 Six Months Ended June 30, 2016 Residential 2 $ 196 $ 232 There were no troubled debt restructurings modified for the three and six months ended June 30, 2015. The recorded investment of troubled debt restructurings was $31,976,000 and $37,511,000 at June 30, 2016 and 2015, respectively. Of these loans, $7,424,000 and $11,541,000 were nonaccruing at June 30, 2016 and 2015, respectively. Although not general practice, there were modifications that included extending maturity dates. These amounts show an increase from the pre-modification balance due to capitalized delinquent interest and/or escrow. All TDR loans are considered impaired and management performs a discounted cash flow calculation to determine the amount of impairment reserve required on each loan. TDR loans which subsequently default are reviewed to determine if the loan should be deemed collateral dependent. In either case, any reserve required is recorded as part of the allowance for loan losses. The following tables pertain to trouble debt restructures that defaulted in the first twelve months after restructure. A default is defined as two or more payments in arrears. Number of Recorded Contracts Investment Three Months Ended June 30, (In thousands) 2016 Residential 1 $ 2015 Residential 0 $ — Number of Recorded Contracts Investment Six Months Ended June 30, (In thousands) 2016 Residential 1 $ 2015 Residential 3 $ Mortgage loans in the process of foreclosure totaled $5,169,000 and $6,546,000 at June 30, 2016 and December 31, 2015, respectively, and are reported in loans on the Consolidated Balance Sheets. Credit Quality Information The Company uses a ten grade internal loan rating system for commercial real estate, commercial construction and commercial loans, as follows: Loans rated 1 – 6 are considered “pass” rated loans with low to average risk. Loans rated 7 are considered “special mention.” These loans are starting to show signs of potential weakness and are being closely monitored by management. Loans rated 8 are considered “substandard.” Generally, a loan is considered substandard if it is inadequately protected by the current net worth and paying capacity of the obligors and/or the collateral pledged. There is a distinct possibility that the Company will sustain some loss if the weakness is not corrected. Loans rated 9 are considered “doubtful.” Loans classified as doubtful have all the weaknesses inherent in those classified substandard with the added characteristic that the weaknesses make collection or liquidation in full, on the basis of currently existing facts, highly questionable and improbable. Loans rated 10 are considered “uncollectible” (loss), and of such little value that their continuance as loans is not warranted. Loans not rated consist primarily of residential construction loans and certain smaller balance commercial real estate and commercial loans that are managed by exception. On an annual basis, or more often if needed, the Company formally reviews the ratings on all commercial real estate, construction and commercial loans. Annually, the Company engages an independent third party to review a significant portion of loans within these segments. Management uses the results of these reviews as part of its annual review process. On a monthly basis, the Company reviews the residential construction, residential real estate and consumer installment portfolios for credit quality primarily through the use of delinquency reports. The following table presents the Company’s loans by risk rating at June 30, 2016 and December 31, 2015: June 30, 2016 December 31, 2015 Commercial Commercial Real Estate Commercial Construction Real Estate Commercial Construction (In thousands) Loans rated 1 - 6 $ $ $ $ $ $ Loans rated 7 — — — — — Loans rated 8 — — — — Loans rated 9 — — — — Loans rated 10 — — — — — — Loans not rated — — $ $ $ $ $ $

MORTGAGE LOAN SERVICING

MORTGAGE LOAN SERVICING	6 Months Ended
	Jun. 30, 2016
MORTGAGE LOAN SERVICING
MORTGAGE LOAN SERVICING	4. MORTGAGE LOAN SERVICING The Company sells residential mortgages to government-sponsored entities and other parties. The Company retains no beneficial interests in these loans, but may retain the servicing rights of the loans sold. Mortgage loans serviced for others are not included in the accompanying unaudited interim Consolidated Balance Sheets. The risks inherent in mortgage servicing rights (“MSRs”) relate primarily to changes in prepayments that result from shifts in mortgage interest rates. The unpaid principal balances of mortgage loans serviced for others were $1.47 billion and $1.24 billion as of June 30, 2016 and December 31, 2015, respectively. Effective January 1, 2015, the Company has elected to account for MSRs at fair value. The Company obtains valuations from independent third parties to determine the fair value of MSRs. Key assumptions used in the estimation of fair value include prepayment speeds, discount rates, default rates, cost to service, and contractual servicing fees . At June 30, 2016 and December 2015, the following weighted average assumptions were used in the calculation of fair value of MSRs: 2016 2015 Prepayment speed % % Discount rate Default rate The following summarizes changes to mortgage servicing rights for the six months ended June 30, 2016 and 2015: Six Months Ended June 30, 2016 2015 Balance, beginning of period (2016 at fair value) $ $ Change in accounting - fair value election — Additions from loans sold with servicing retained Changes in fair value due to : Reductions from loans paid off during the period Changes in valuation inputs or assumptions Balance, end of period $ $ For the three months ended June 30, 2016 and 2015, contractually specified servicing fees included in other mortgage banking income amounted to $937,000 and $327,000 , respectively. For the six months ended June 30, 2016 and 2015, contractually specified servicing fees included in other mortgage banking income amounted to $1,759,000 and $650,000 , respectively.

DEPOSITS

DEPOSITS	6 Months Ended
	Jun. 30, 2016
DEPOSITS
DEPOSITS	5. DEPOSITS A summary of deposit balances, by type, is as follows: June 30, December 31, 2016 2015 (In thousands) NOW and demand deposit accounts $ $ Regular savings and club accounts Money market deposit accounts Total non-certificate accounts Term certificate accounts greater than or equal to $250,000 Term certificate accounts less than $250,000 Total certificate accounts Total deposits $ $ A summary of certificate accounts by maturity at June 30, 2016 is as follows: Weighted Average Amount Rate (Dollars in thousands) Within 1 year $ % Over 1 year to 2 years Over 2 years to 3 years Over 3 years to 4 years Over 4 years to 5 years $ %

BORROWED FUNDS

BORROWED FUNDS	6 Months Ended
	Jun. 30, 2016
BORROWED FUNDS
BORROWED FUNDS	6. BORROWED FUNDS Borrowed funds at June 30, 2016 and December 31, 2015 consist of FHLB advances and are summarized by maturity and call date below: June 30, 2016 December 31, 2015 Weighted Weighted Scheduled Redeemable Average Scheduled Redeemable Average Maturity at Call Date (1) Rate (2) Maturity at Call Date (1) Rate (2) (Dollars in thousands) Year ending December 31: 2016 $ — $ — % $ $ % 2017 2018 2019 2020 2021 and thereafter* $ $ % $ $ %  Includes an amortizing advance requiring monthly principal and interest payments of $1,000 . (1) Callable FHLB advances are shown in the respective periods assuming that the callable debt is redeemed at the call date, while all other advances are shown in the periods corresponding to their scheduled maturity date. (2) Weighted average rate based on scheduled maturity dates. The FHLB advances are secured by a blanket security agreement on qualified collateral defined primarily as 79% of the carrying value of first mortgage loans on residential property and 94% of the fair value of government-sponsored enterprises and mortgage-backed securities obligations. The Company also has an available line of credit with the Federal Reserve Bank secured by 71% of the carrying value of indirect auto loans with an amortized balance amounting to $246.6 million and $288.0 million, respectively, of which no amount was outstanding at June 30, 2016 and December 31, 2015, respectively.

INCOME TAXES

INCOME TAXES	6 Months Ended
	Jun. 30, 2016
INCOME TAXES
INCOME TAXES	7. INCOME TAXES Income Tax Provision For the three and six months ended June 30, 2016, the Company recorded a benefit of $749,000 and $687,000 , respectively, due to the $1.9 million tax benefit for the Foundation expense offset by the taxable income at an effective rate of 34.6% and 34.7% , respectively. For the three and six months ended June 30, 2015, the tax provision expense was $290,000 and $534,000 , respectively, representing an effective tax rate of 21.42% and 21.22 %, respectively. The increase in the effective tax rate in 2016 is due primarily to the effect of higher projected pre-tax income while maintaining the same level of tax-advantaged income, such as bank-owned life insurance and tax-exempt municipal bonds. Deferred Tax Liability At June 30, 2016, the Company reported a net deferred tax liability of $1.6 million , compared to a $989,000 liability as of December 31, 2015. The increase of unrealized gains on available for sale securities caused the increase in the deferred tax liability.

OTHER COMMITMENTS AND CONTINGEN

OTHER COMMITMENTS AND CONTINGENCIES	6 Months Ended
	Jun. 30, 2016
OTHER COMMITMENTS AND CONTINGENCIES
OTHER COMMITMENTS AND CONTINGENCIES	8. OTHER COMMITMENTS AND CONTINGENCIES Loan Commitments The Company is a party to financial instruments with off-balance sheet risk in the normal course of business to meet the financing needs of its customers. These financial instruments include commitments to extend credit and advance funds on various lines of credit. Those commitments involve, to varying degrees, elements of credit and interest rate risk in excess of the amount recognized in the accompanying unaudited interim Consolidated Financial Statements. The Company’s exposure to credit loss is represented by the contractual amount of these commitments. The Company uses the same credit policies in making commitments as it does for on-balance sheet instruments. The following off-balance sheet financial instruments were outstanding at June 30, 2016 and December 31, 2015. The contract amounts represent credit risk. June 30, December 31, 2016 2015 (In thousands) Commitments to grant loans $ $ Unadvanced funds on home equity lines of credit Unadvanced funds on revolving lines of credit Unadvanced funds on construction loans Commitments to extend credit and unadvanced portion of construction loans are agreements to lend to a customer, as long as there is no violation of any condition established in the contract. Commitments to grant loans generally have fixed expiration dates or other termination clauses and may require payment of a fee. The commitments for unadvanced funds on construction loans, home equity and revolving lines of credit may expire without being drawn upon; therefore, the total commitment amounts do not necessarily represent future cash requirements. The Company evaluates each customer’s credit worthiness on a case-by-case basis. Commitments to grant loans, and unadvanced construction loans and home equity lines of credit are collateralized by real estate, while revolving lines of credit are unsecured.

DERIVATIVES

DERIVATIVES	6 Months Ended
	Jun. 30, 2016
DERIVATIVES
DERIVATIVES	9. DERIVATIVES Interest Rate Risk Management – Derivative Instruments Not Designated As Hedging Instruments The Company is party to a variety of derivative transactions, including derivative loan commitments, forward loan sale commitments and interest rate swap contracts. The Company enters into derivative contracts in order to meet the financing needs of its customers. The Company also enters into derivative contracts as a means of reducing its interest rate risk and market risk. All derivatives are recognized in the unaudited interim Consolidated Balance Sheets at fair value. Changes in the fair value of derivatives are recognized in earnings. The Company did not have any fair value hedges or cash flow hedges at June 30, 2016 and December 31, 2015. Derivative Loan Commitments Mortgage loan commitments qualify as derivative loan commitments if the loan that will result from exercise of the commitment will be held for sale upon funding. The Company enters into commitments to fund residential mortgage loans at specified times in the future, with the intention that these loans will subsequently be sold in the secondary market. A mortgage loan commitment binds the Company to lend funds to a potential borrower at a specified interest rate and within a specified period of time, generally up to 60 days after inception of the rate lock. Outstanding derivative loan commitments expose the Company to the risk that the price of the loans arising from exercise of the loan commitment might decline from inception of the rate lock to funding of the loan due to increases in mortgage interest rates. If interest rates increase, the value of these loan commitments decreases. Conversely, if interest rates decrease, the value of these loan commitments increases. Forward Loan Sale Commitments The Company utilizes both “mandatory delivery” and “best efforts” forward loan sale commitments to mitigate the risk of potential decreases in the values of loans that would result from the exercise of the derivative loan commitments. With a “mandatory delivery” contract, the Company commits to deliver a certain principal amount of mortgage loans to an investor at a specified price on or before a specified date. If the Company fails to deliver the amount of mortgages necessary to fulfill the commitment by the specified date, it is obligated to pay a “pair-off” fee, based on then-current market prices, to the investor to compensate the investor for the shortfall. With a “best efforts” contract, the Company commits to deliver an individual mortgage loan of a specified principal amount and quality to an investor if the loan to the underlying borrower closes. Generally, the price the investor will pay the seller for an individual loan is specified prior to the loan being funded (e.g., on the same day the lender commits to lend funds to a potential borrower). The Company expects that these forward loan sale commitments will experience changes in fair value opposite to the change in fair value of derivative loan commitments. Interest Rate Swaps The Company enters into interest rate swap agreements that are transacted to meet the financing needs of its commercial customers. Offsetting interest rate swap agreements are simultaneously transacted with a third-party financial institution to effectively eliminate the Company’s interest rate risk associated with the customer swaps. The primary risks associated with these transactions arise from exposure to the ability of the counterparties to meet the terms of the contract. Mortgage-backed securities with a fair value of $7.7 million are pledged to secure the Company’s liability for the offsetting interest rate swaps. The interest rate swap notional amount below is the aggregate notional amount of the customer swap and the offsetting third-party swap. The following tables present the fair values of derivative instruments in the consolidated balance sheets: Assets Liabilities Balance Balance Notional Sheet Fair Sheet Fair Amount Location Value Location Value (In thousands) June 30, 2016: Derivative loan commitments $ Other assets $ Other liabilities $ — Forward loan sale commitments Other assets — Other liabilities Interest rate swaps Other assets Other liabilities Total derivatives not designated as hedging instruments $ $ December 31, 2015: Derivative loan commitments $ Other assets $ Other liabilities $ — Forward loan sale commitments Other assets Other liabilities Interest rate swaps Other assets Other liabilities Total derivatives not designated as hedging instruments $ $ The following table presents information pertaining to the Company’s derivative instruments on the consolidated statements of net income: Three Months Ended June 30, Six Months Ended June 30, 2016 2015 2016 2015 Location of Gain (Loss) Amount of Gain (Loss) Amount of Gain (Loss) (In thousands) (In thousands) Derivative loan commitments Mortgage banking income $ $ $ $ Forward loan sale commitments Mortgage banking income Interest rate swaps Other income — — Total $ $ $ $

COMPENSATION AND BENEFIT PLANS

COMPENSATION AND BENEFIT PLANS	6 Months Ended
	Jun. 30, 2016
COMPENSATION AND BENEFIT PLANS
COMPENSATION AND BENEFIT PLANS	10. COMPENSATION AND BENEFIT PLANS Supplemental Retirement Plans On March 1, 2016, in anticipation of the reorganization, the Company amended a Supplemental Executive Retirement Plan with an executive to accelerate vesting. This amendment increased the net present value of the benefit obligation in the amount of $891,000 and this increase was expensed in the first quarter of 2016. Employee Stock Ownership Plan On June 29, 2016, the Company established an ESOP to provide eligible employees the opportunity to own Company stock. The plan is a tax-qualified retirement plan for the benefit of the Company employees. Contributions are allocated to eligible participants on the basis of compensation, subject to federal tax limits. The number of shares committed to be released per year is 59,359 through 2035. As of June 30, 2016, there were 1,187,188 unallocated shares held by the ESOP. The fair value of these shares was approximately $15.3 million at June 30, 2016. There was no compensation expense recognized for the three and six month periods ended June 30, 2016.

MINIMUM REGULATORY CAPITAL REQU

MINIMUM REGULATORY CAPITAL REQUIREMENTS	6 Months Ended
	Jun. 30, 2016
MINIMUM REGULATORY CAPITAL REQUIREMENTS
MINIMUM REGULATORY CAPITAL REQUIREMENTS	11. MINIMUM REGULATORY CAPITAL REQUIREMENTS The Company and Bank are subject to various regulatory capital requirements administered by the Board of Governors of the Federal Reserve System and the Federal Deposit Insurance Corporation (the “FDIC”). Failure to meet minimum capital requirements can result in mandatory and possible additional discretionary actions by regulators that, if undertaken, could have a direct material effect on the Company’s Consolidated Financial Statements. Under the capital rules, risk-based capital ratios are calculated by dividing Tier 1 and total risk-based capital, respectively, by risk-weighted assets. Assets and off-balance sheet credit equivalents are assigned to one of several risk-weight categories, based primarily on relative risk. The rules require banks and bank holding companies to maintain a minimum common equity Tier 1 capital ratio of 4.5% , a minimum Tier 1 capital ratio of 6.0% , a total capital ratio of 8.0% and a leverage ratio of 4.0% . Additionally, subject to a transition schedule, the capital rules require a bank holding company to establish a capital conservation buffer of common equity Tier 1 capital in an amount above the minimum risk-based capital requirements equal to 2.5% of total risk weighted assets, or face restrictions on the ability to pay dividends, pay discretionary bonuses, and to engage in share repurchases. Under rules effective January 1, 2015, a bank holding company, such as the Company, is considered “well capitalized” if the bank holding company (i) has a total risk based capital ratio of at least 10.0% , (ii) has a Tier 1 risk-based capital ratio of at least 8.0% , and (iii) is not subject to any written agreement order, capital directive or prompt corrective action directive to meet and maintain a specific capital level for any capital measure. The FDIC has amended its prompt corrective action rules to reflect the revisions made by the revised capital rules described above. Under the FDIC’s revised rules, which became effective January 1, 2015, an insured state nonmember bank is considered “well capitalized” if it (i) has a total risk-based capital ratio of 10.0% or greater; (ii) a Tier 1 risk-based capital ratio of 8.0% or greater; (iii) a common Tier 1 equity ratio of 6.5% or greater, (iv) a leverage capital ratio of 5.0% or greater; and (v) is not subject to any written agreement, order, capital directive, or prompt corrective action directive to meet and maintain a specific capital level for any capital measure. In addition, because the Bank obtained FDIC deposit insurance in 2013, it was treated as a de novo institution and was required by the FDIC to maintain a leverage ratio of not less than 8.0% for the first seven years of operation following the effectiveness of its deposit insurance. The Bank received notification from the FDIC that its status as a newly insured institution and the applicability of these enhanced regulatory requirements will terminate on July 1, 2016. The Company’s and the Bank’s regulatory capital ratios as of June 30, 2016 and December 31, 2015 are presented in the table below. Minimum To Be Well Capitalized Under Prompt Minimum Corrective Action Actual Capital Requirement Provisions Amount Ratio Amount Ratio Amount Ratio (Dollars in thousands) June 30, 2016: HarborOne Bancorp, Inc. Common equity Tier 1 capital to risk-weighted assets $ % $ % $ % Tier 1 capital to risk-weighted assets Total capital to risk-weighted assets Tier 1 capital to average assets HarborOne Bank Common equity Tier 1 capital to risk-weighted assets $ % $ % $ % Tier 1 capital to risk-weighted assets Total capital to risk-weighted assets Tier 1 capital to average assets December 31, 2015: HarborOne Bank Common equity Tier 1 capital to risk-weighted assets $ % $ % $ % Tier 1 capital to risk-weighted assets Total capital to risk-weighted assets Tier 1 capital to average assets

COMPREHENSIVE INCOME (LOSS)

COMPREHENSIVE INCOME (LOSS)	6 Months Ended
	Jun. 30, 2016
COMPREHENSIVE INCOME (LOSS)
COMPREHENSIVE INCOME (LOSS)	12. COMPREHENSIVE INCOME (LOSS) Accounting principles generally require that recognized revenue, expenses, gains and losses be included in net income. Although certain changes in assets and liabilities are reported as a separate component of the retained earnings section of the balance sheets, such items, along with net income, are components of comprehensive income (loss). The components of accumulated other comprehensive income (loss), included in retained earnings, are as follows: June 30, December 31, 2016 2015 (In thousands) Securities available for sale: Net unrealized gain $ $ Related tax effect Net-of-tax amount Directors' retirement plan: Prior service cost Related tax effect Net-of-tax amount Total accumulated other comprehensive income (loss) $ $ The following table presents changes in accumulated other comprehensive income by component for the six months ended June 30, 2016: Unrealized Gains and Losses on Director's Available-for-Sale Retirement Securities Plan Total (In thousands) Balance at beginning of period $ $ $ Other comprehensive income before reclassifications — Amounts reclassified from accumulated other comprehensive income Net current period other comprehensive income Related tax effect Balance at end of period $ $ $

FAIR VALUE OF ASSETS AND LIABIL

FAIR VALUE OF ASSETS AND LIABILITIES	6 Months Ended
	Jun. 30, 2016
FAIR VALUE OF ASSETS AND LIABILITIES
FAIR VALUE OF ASSETS AND LIABILITIES	13. FAIR VALUE OF ASSETS AND LIABILITIES Determination of Fair Value The Company uses fair value measurements to record fair value adjustments to certain assets and liabilities and to determine fair value disclosures. The fair value of an asset or liability is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Fair value is best determined based upon quoted market prices. However, in many instances, there are no quoted market prices for the Company’s various assets or liabilities. In cases where quoted market prices are not available, fair values are based on estimates using present value or other valuation techniques. Those techniques are significantly affected by the assumptions used, including the discount rate and estimates of future cash flows. Accordingly, the fair value estimates may not be realized in an immediate settlement of the asset or liability. The following methods and assumptions were used by the Company in estimating fair value disclosures: Cash and cash equivalents - The carrying amounts of cash and short-term instruments approximate fair values based on the short-term nature of the assets. Securities - All fair value measurements are obtained from a third-party pricing service and are not adjusted by management. Securities measured at fair value in Level 1 are based on quoted market prices in an active exchange market. Securities measured at fair value in Level 2 are based on pricing models that consider standard input factors such as observable market data, benchmark yields, interest rate volatilities, broker/dealer quotes, credit spreads and new issue data. Federal Home Loan Bank stock - The fair value of Federal Home Loan Bank stock is equal to cost based on redemption provisions. Mortgage loans held for sale - Fair values are based on prevailing market prices for similar commitments. At June 30, 2016 and December 31, 2015, there were no mortgage loans held for sale that were greater than ninety days past due. The following table provides the fair value and contractual principal balance outstanding of mortgage loans held for sale accounted for under the fair value option: June 30, December 31, 2016 2015 (In thousands) Mortgage loans held for sale, fair value $ $ Mortgage loans held for sale, contractual principal outstanding Fair value less unpaid principal $ $ Loans - Fair values for mortgage loans and other loans are estimated using discounted cash flow analyses, using market interest rates currently being offered for loans with similar terms to borrowers of similar credit quality. Fair values for non-performing loans are estimated using discounted cash flow analyses or underlying collateral values, where applicable. Retirement plan annuities - The carrying value of the annuities are based on their contract values which approximate fair value. Mortgage servicing rights - Fair value is based on market prices for comparable mortgage servicing contracts, when available, or alternatively, is based on a valuation model that calculates the present value of estimated future net servicing income. Deposits and mortgagors’ escrow accounts - The fair values disclosed for demand deposits (e.g., interest and non-interest checking, passbook savings, and certain types of money market accounts) and mortgagors’ escrow accounts are, by definition, equal to the amount payable on demand at the reporting date (i.e., their carrying amounts). Fair values for certificates of deposit are estimated using a discounted cash flow calculation that applies market interest rates currently being offered on certificates to a schedule of aggregated expected monthly maturities on time deposits. Borrowed funds - The fair values of borrowed funds are estimated using discounted cash flow analyses based on the current incremental borrowing rates in the market for similar types of borrowing arrangements. Accrued interest - The carrying amounts of accrued interest approximate fair value. Forward loan sale commitments and derivative loan commitments - Forward loan sale commitments and derivative loan commitments are based on fair values of the underlying mortgage loans and the probability of such commitments being exercised. The assumptions for pull-through rates are derived from internal data and adjusted using management judgment. Derivative loan commitments include the non-refundable costs of originating the loan based on the Company’s internal cost analysis that is not observable. At June 30, 2016 and December 31, 2015, the weighted average pull-through rate for derivative loan commitments was 82% and 85% , respectively. Interest rate swaps - The Company’s interest rate swaps are traded in over-the-counter markets where quoted market prices are not readily available. For these interest rate derivatives, fair value is determined by a third party utilizing models that use primarily market observable inputs, such as swap rates and yield curves. The pricing models used to value interest rate swaps calculate the sum of each instrument’s fixed and variable cash flows, which are then discounted using an appropriate yield curve to arrive at the fair value of each swap. The pricing models do not contain a high level of subjectivity as the methodologies used do not require significant judgment. Off-balance sheet credit-related instruments - Fair values for off-balance sheet, credit related financial instruments are based on fees currently charged to enter into similar agreements, taking into account the remaining terms of the agreements and the counterparties’ credit standing. The fair value of off-balance sheet instruments are immaterial. Fair Value Hierarchy The Company groups its assets and liabilities measured at fair value in three levels, based on the markets in which the assets and liabilities are traded and the reliability of the assumptions used to determine fair value. Level 1 – Valuation is based on quoted prices in active markets for identical assets or liabilities. Valuations are obtained from readily available pricing sources for market transactions involving identical assets or liabilities. Level 2 – Valuation is based on observable inputs other than Level 1 prices, such as quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities. Level 3 – Valuation is based on unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities. Level 3 assets and liabilities include assets and liabilities whose value is determined using pricing models, discounted cash flow methodologies, or similar techniques, as well as assets and liabilities for which the determination of fair value requires significant management judgment or estimation. Transfers between levels are recognized at the end of the reporting period, if applicable. There were no transfers during the periods presented. Assets and Liabilities Measured at Fair Value on a Recurring Basis Assets and liabilities measured at fair value on a recurring basis are summarized below: Total Level 1 Level 2 Level 3 Fair Value (In thousands) June 30, 2016 Assets U.S. government and government-sponsored enterprise obligations $ — $ $ — $ U.S. government-sponsored residential mortgage-backed securities — — U.S. government-sponsored collateralized mortgage obligations — — SBA asset-backed securities — — Mortgage loans held for sale — — Mortgage servicing rights — — Derivative loan commitments — — Interest rate swaps — — $ — $ $ $ Liabilities Forward loan sale commitments $ — $ — $ $ Interest rate swaps — — $ — $ $ $ December 31, 2015 Assets U.S. government and government-sponsored enterprise obligations $ — $ $ — $ U.S. government-sponsored residential mortgage-backed securities — — U.S. government-sponsored collateralized mortgage obligations — — SBA asset-backed securities — — Mortgage loans held for sale — — Mortgage servicing rights — — Derivative loan commitments — — Forward loan sale commitments — — Interest rate swaps — — $ — $ $ $ Liabilities Forward loan sale commitments $ — $ — $ $ Interest rate swaps — — $ — $ $ $ The table below presents, for the three and six months ended June 30, 2016 and 2015, the changes in Level 3 assets and liabilities that are measured at fair value on a recurring basis. Three Months Ended June 30, Six Months Ended June 30, 2016 2015 2016 2015 (In thousands) Assets: Derivative and Forward Loan Sale Commitments, Net: Balance at beginning of period $ $ $ $ Total gains (losses) included in net income (1) Balance as of period end $ $ $ $ Changes in unrealized (losses) gains relating to instruments at period end $ $ $ $ Liabilities: Derivative and Forward Loan Sale Commitments, Net: Balance at beginning of period $ $ $ $ Total gains (losses) included in net income (1) Balance as of period end $ $ $ $ Changes in unrealized (losses) gains relating to instruments at period end $ $ $ $ (1) Included in mortgage banking income on the unaudited interim Consolidated Statements of Net Income Assets Measured at Fair Value on a Non-recurring Basis The Company may also be required, from time to time, to measure certain other financial assets on a nonrecurring basis in accordance with generally accepted accounting principles. These adjustments to fair value usually result from application of lower-of-cost-or-market accounting or write-downs of individual assets. There were no liabilities measured at fair value on a non-recurring basis at June 30, 2016 and December 31, 2015. The following table summarizes the fair value hierarchy used to determine each adjustment and the carrying value of the related individual assets. The loss represents the amount of the fair value adjustments recorded during the period on the carrying value of the assets held at June 30, 2016 and December 31, 2015, respectively. Fair Value Measurements Losses for the Losses for the Three Months Ended Six Months Ended Level 1 Level 2 Level 3 June 30, 2016 June 30, 2016 (In thousands) June 30, 2016 Impaired loans $ — $ — $ $ Other real estate owned and repossessed assets — — — $ — $ — $ $ $ Fair Value Measurements Losses for the Year Ended Level 1 Level 2 Level 3 December 31, 2015 (In thousands) December 31, 2015 Impaired loans $ — $ — $ $ Other real estate owned and repossessed assets — — $ — $ — $ $ Losses applicable to write-downs of impaired loans and other real estate owned and repossessed assets are based on the appraised value of the underlying collateral less estimated costs to sell. The losses on impaired loans is not recorded directly as an adjustment to current earnings, but rather as a component in determining the allowance for loan losses. The losses on other real estate owned and repossessed assets represent adjustments in valuation recorded during the time period indicated and not for losses incurred on sales. Appraised values are typically based on a blend of (a) an income approach using observable cash flows to measure fair value, and (b) a market approach using observable market comparables. These appraised values may be discounted based on management’s historical knowledge, expertise or changes in market conditions from time of valuation. Summary of Fair Values of Financial Instruments The estimated fair values, and related carrying or notional amounts, of the Company’s financial instruments are as follows. Certain financial instruments and all nonfinancial instruments are exempt from disclosure requirements. Accordingly, the aggregate fair value amounts presented herein may not necessarily represent the underlying fair value of the Company. June 30, 2016 Carrying Fair Value Amount Level 1 Level 2 Level 3 Total (In thousands) Financial assets: Cash and cash equivalents $ $ $ — $ — $ Securities available for sale — — Securities held to maturity — — Federal Home Loan Bank stock — — Mortgage loans held for sale — — Loans, net — — Retirement plan annuities — — Mortgage servicing rights — — Accrued interest receivable — — Financial liabilities: Deposits — — Borrowed funds — — Mortgagors' escrow accounts — — Accrued interest payable — — Derivative loan commitments: Assets — — Interest rate swap agreements: Assets — — Liabilities — — Forward loan sale commitments: Liabilities — — December 31, 2015 Carrying Fair Value Amount Level 1 Level 2 Level 3 Total (In thousands) Financial assets: Cash and cash equivalents $ $ $ — $ — $ Securities available for sale — — Securities held to maturity — — Federal Home Loan Bank stock — — Mortgage loans held for sale — — Loans, net — — Retirement plan annuities — — Mortgage servicing rights — — Accrued interest receivable — — Financial liabilities: Deposits — — Borrowed funds — — Mortgagors' escrow accounts — — Accrued interest payable — — Derivative loan commitments: Assets — — Interest rate swap agreements: Assets — — Liabilities — — Forward loan sale commitments: Assets — — Liabilities — —

SEGMENT REPORTING

SEGMENT REPORTING	6 Months Ended
	Jun. 30, 2016
SEGMENT REPORTING
SEGMENT REPORTING	14. SEGMENT REPORTING The Company has two reportable segments: HarborOne Bank and Merrimack Mortgage. Revenue from HarborOne Bank consists primarily of interest earned on loans and investment securities and service charges on deposit accounts. Revenue from Merrimack Mortgage comprises interest earned on loans and fees received as a result of the residential mortgage origination, sale and servicing process. The accounting policies of the reportable segments are the same as those described in the summary of significant accounting policies. Segment profit and loss is measured by net income on a legal entity basis. Intercompany transactions are eliminated in consolidation. Information about the reportable segments and reconciliation to the unaudited interim Consolidated Financial Statements at June 30, 2016 and 2015 and for the three and six months then ended are presented in the table below. Merrimack Mortgage was acquired in July 2015. Therefore, for the three and six months ended June 30, 2015, the Company had a single segment, HarborOne Bank. Three Months Ended Three Months Ended June 30, 2016 June 30, 2015 HarborOne Merrimack HarborOne HarborOne Bank Mortgage Bancorp Eliminations Consolidated Bank (In thousands) Net interest and dividend income $ $ $ — $ — $ $ Provision for loan losses — — — Net interest income, after provision for loan losses — — Mortgage banking income: Changes in mortgage servicing rights fair value — — Other — — Total mortgage banking income — — Other noninterest income — — Total noninterest income — — Noninterest expense — Income (loss) before income taxes — Provision (benefit) for income taxes — Net income (loss) $ $ $ $ — $ $ Six Months Ended Six Months Ended June 30, 2016 June 30, 2015 HarborOne Merrimack HarborOne HarborOne Bank Mortgage Bancorp Eliminations Consolidated Bank (In thousands) Net interest and dividend income $ $ $ — $ — $ $ Provision for loan losses — — — Net interest income, after provision for loan losses — — Mortgage banking income: Changes in mortgage servicing rights fair value — — Other — — Total mortgage banking income — — Other noninterest income — — Total noninterest income — — Noninterest expense — Income (loss) before income taxes — Provision (benefit) for income taxes — Net income (loss) $ $ $ $ — $ $ Total assets $ $ $ $ $ $ Goodwill $ $ $ — $ — $ $ (1) Merrimack Mortgage was acquired on July 1, 2015.

SUMMARY OF SIGNIFICANT ACCOUN24

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	6 Months Ended
	Jun. 30, 2016
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Bais of presentation and consolidation	Basis of Presentation and Consolidation The unaudited interim Consolidated Financial Statements of HarborOne Bancorp, Inc. (the “Company”) presented herein have been prepared pursuant to the rules of the Securities and Exchange Commission (“SEC”) for quarterly reports on Form 10-Q and do not include all of the information and note disclosures required by the U.S. generally accepted accounting principles (“GAAP”). In the opinion of management, all adjustments and disclosures considered necessary for the fair presentation of the accompanying Consolidated Financial Statements have been included. Interim results are not necessarily reflective of the results of the entire year. The accompanying unaudited interim Consolidated Financial Statements should be read in conjunction with the audited Consolidated Financial Statements for the years ended December 31, 2015 and 2014 and notes thereto included in the Company’s prospectus, filed with the SEC pursuant to Rule 424(b)(3) under the Securities Act of 1933, as amended, on May 18, 2016. The unaudited interim Consolidated Financial Statements include the accounts of the Company, HarborOne Bank (the “Bank”) and the Bank’s wholly-owned subsidiaries. The Bank’s subsidiaries consist of a mortgage company and two security corporations. Merrimack Mortgage Company, LLC (“Merrimack Mortgage”) was acquired and became a wholly-owned subsidiary of the Bank on July 1, 2015. The security corporations were established for the purpose of buying, holding and selling securities on their own behalf. The Company established a security corporation on July 13, 2016 for the same purpose. All significant intercompany balances and transactions have been eliminated in consolidation.
Plan of Conversion	Stock Conversion On June 29, 2016, the Bank reorganized into a two-tier mutual holding company structure with a mid-tier stock holding company. The Company sold 14,454,396 shares of common stock at $10.00 per share, including 1,187,188 shares purchased by the Company’s Employee Stock Ownership Plan (“ESOP”). In addition, the Company issued 17,281,034 shares to HarborOne Mutual Bancshares, the Company’s mutual holding company parent (the “MHC”) and 385,450 shares to The HarborOne Foundation (“Foundation”), a charitable foundation that was formed in connection with the stock offering and is dedicated to supporting charitable organizations operating in the Bank’s local community. A total of 32,120,880 shares of common stock were outstanding following the completion of the stock offering. The direct costs of the Company’s stock offering of $3,870,000 were deferred and deducted from the proceeds of the offering. Upon the completion of the stock offering, a special “liquidation account” was established for the benefit of certain depositors of the Bank in an amount equal to the percentage ownership interest in the equity of the Company held by persons other than the MHC as of the date of the latest balance sheet contained in the prospectus. The Company is not permitted to pay dividends on its capital stock if the Company’s shareholders’ equity would be reduced below the amount of the liquidation account. The liquidation account will be reduced annually to the extent that eligible account holders have reduced their qualifying deposits. Subsequent increases in an eligible account holder’s qualifying deposits will not restore such holder’s interest in the liquidation account.
Nature of Operations	Nature of Operations The Bank, originally established in 1917 as a state-chartered credit union, converted to a state-chartered co-operative bank on July 1, 2013. The Bank provides a variety of financial services to individuals and businesses through its fourteen full-service and two limited-service bank offices in eastern Massachusetts, a commercial lending office in Providence, Rhode Island and a residential loan office in Westford, Massachusetts. Merrimack Mortgage maintains 33 offices in Massachusetts, New Hampshire, Connecticut and Maine, and is also licensed to lend in five additional states. The Company’s primary deposit products are checking, money market, savings and term certificate of deposit accounts while its primary lending products are commercial real estate, commercial, residential mortgages and consumer loans, including indirect automobile lending. The Company also originates, sells and services residential mortgage loans primarily through Merrimack Mortgage.
Use of Estimates	Use of Estimates In preparing unaudited interim Consolidated Financial Statements in conformity with GAAP, management is required to make estimates and assumptions that affect the reported amounts of assets and liabilities as of the date of the balance sheet and reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Material estimates that are particularly susceptible to significant change in the near term relate to the determination of the allowance for loan losses, the valuations of mortgage servicing rights, derivatives, goodwill and deferred tax assets.
Allowance for Loan Losses	Allowance for Loan Losses The allowance for loan losses is established as losses are estimated to have occurred through a provision for loan losses charged to earnings. Loan losses are charged against the allowance when management believes the uncollectibility of a loan balance is confirmed and generally do not exceed the time frame provided in The Uniform Retail Credit Classification and Account Management Policy. Subsequent recoveries, if any, are credited to the allowance. The allowance for loan losses is evaluated on a regular basis by management. This evaluation is inherently subjective as it requires estimates that are susceptible to significant revision as more information becomes available. The allowance consists of general, allocated and unallocated components, as further described below. General component The general component of the allowance for loan losses is based on historical loss experience adjusted for qualitative factors stratified by the Company’s loan segments. Management uses a rolling average of historical losses based on a time frame appropriate to capture relevant loss data for each loan segment. Adjustments to this historical loss factor are considered for the following qualitative factors: levels/trends in delinquencies; trends in volume and terms of loans; effects of changes in risk selection and underwriting standards and other changes in lending policies, procedures and practices; experience/ability/depth of lending management and staff; and national and local economic trends and conditions. There were no changes in the Company’s policies or methodology pertaining to the general component of the allowance for loan losses during 2015 or the six months ended June 30, 2016. The qualitative factors are determined based on the various risk characteristics of each loan segment. Risk characteristics relevant to each portfolio segment are as follows: Residential real estate – The Company generally does not originate portfolio loans with a loan-to-value ratio greater than 80 percent without obtaining private mortgage insurance and does not generally grant loans that would be classified as subprime upon origination. The Company generally has first or second liens on property securing equity lines of credit. Loans in this segment are generally collateralized by residential real estate and repayment is dependent on the credit quality of the individual borrower. The overall health of the economy, including unemployment rates and housing prices, can have an effect on the credit quality in this segment. Commercial real estate – Loans in this segment are primarily secured by income-producing properties in southeastern New England. The underlying cash flows generated by the properties can be adversely impacted by a downturn in the economy as evidenced by increased vacancy rates, which in turn, could have an effect on the credit quality in this segment. Management obtains rent rolls annually and continually monitors the cash flows of these loans. Construction – Loans in this segment include both residential and commercial construction loans. Residential construction loans include loans to build one - to four-family owner-occupied properties, which are subject to the same credit quality factors as residential real estate loans. Commercial construction loans may include speculative real estate development loans for which payment is derived from sale of the property. Credit risk is affected by cost overruns, time to sell at an adequate price, and market conditions. Commercial – Loans in this segment are made to businesses and are generally secured by assets of the business. Repayment is expected from the cash flows of the business. A weakened economy, and resultant decreased consumer spending, could have an effect on the credit quality in this segment. Consumer – Loans in this segment are generally secured by automobiles or unsecured and repayment is dependent on the credit quality of the individual borrower. Allocated component The allocated component relates to loans that are classified as impaired. Residential real estate, commercial, commercial real estate and construction loans are evaluated for impairment on a loan-by-loan basis. Impairment is determined by nonaccrual status, whether a loan is subject to a troubled debt restructuring agreement or in the case of certain loans, based on the internal credit rating. Large groups of smaller balance homogeneous loans are collectively evaluated for impairment. Accordingly, except for troubled debt restructuring (“TDR”), the Company does not separately identify individual consumer loans for impairment evaluation. A loan is considered impaired when, based on current information and events, it is probable that the Company will be unable to collect the scheduled payments of principal or interest when due according to the contractual terms of the loan agreement. Factors considered by management in determining impairment include payment status, collateral value, and the probability of collecting scheduled principal and interest payments when due. Loans that experience insignificant payment delays and payment shortfalls generally are not classified as impaired. Management determines the significance of payment delays and payment shortfalls on a case-by-case basis, taking into consideration all of the circumstances surrounding the loan and the borrower, including the length of the delay, the reasons for the delay, the borrower’s prior payment record, and the amount of the shortfall in relation to the principal and interest owed. The Company periodically may agree to modify the contractual terms of loans. When a loan is modified and a concession is made to a borrower experiencing financial difficulty, the modification is considered a TDR. All TDRs are initially classified as impaired. Impairment is measured by either the present value of expected future cash flows discounted at the loan’s effective interest rate or the fair value of the collateral if the loan is collateral dependent. An allowance is established when the discounted cash flows or collateral value of the impaired loan is lower than the carrying value of that loan. Unallocated component An unallocated component is maintained to cover uncertainties that could affect management’s estimate of probable losses. The unallocated component of the allowance reflects the margin of imprecision inherent in the underlying assumptions used in the methodologies for estimating allocated and general reserves in the portfolio.
Employee Stock Ownership Plan	Employee Stock Ownership Plan Compensation expense for the Company’s ESOP is recorded at an amount equal to the shares allocated by the ESOP multiplied by the average fair market value of the shares during the year. The Company recognizes compensation expense ratably over the year based upon the Company’s estimate of the number of shares expected to be allocated by the ESOP. The difference between the average fair market value and the cost of the shares allocated by the ESOP is recorded as an adjustment to additional paid in capital.
Recent Accounting Pronouncements	Recent Accounting Pronouncements As an “emerging growth company” as defined in Title 1 of the Jumpstart Our Business Startups (JOBS) Act, the Company has elected to use the extended transition period to delay the adoption of new or reissued accounting pronouncements applicable to public companies until such pronouncements are made applicable to private companies. As of June 30, 2016, there is no significant difference in the comparability of the financial statements as a result of this extended transition period. In June 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2016-13, Financial Instruments—Credit Losses (Topic 326) , which requires entities to measure all expected credit losses for financial assets held at the reporting date based on historical experience, current conditions, and reasonable and supportable forecasts. Entities will now use forward-looking information to better form their credit loss estimates. The ASU also requires enhanced disclosures to help financial statement users better understand significant estimates and judgments used in estimating credit losses, as well as the credit quality and underwriting standards of an entity’s portfolio. For public entities that are SEC filers, this ASU is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2019. For public entities that are not SEC filers, this ASU is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2020. For non-public entities, this ASU is effective for fiscal years beginning after December 15, 2020, and for interim periods within fiscal years beginning after December 15, 2021. Early application will be permitted for all entities for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2018. Management is currently evaluating the impact of adopting this ASU on the Consolidated Financial Statements. In March 2016, the FASB issued ASU 2016-09, Compensation-Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting . This update makes several modifications to Topic 718 related to the accounting for forfeitures, employer tax withholding on share-based compensation and the financial statement presentation of excess tax benefits or deficiencies. ASU 2016-09 also clarifies the statement of cash flows presentation for certain components of share-based awards. The standard is effective for interim and annual reporting periods beginning after December 15, 2016. Early adoption is permitted. We are currently evaluating the impact of adopting the new guidance on the Company’s Consolidated Financial Statements. In February 2016 , the FASB issued ASU 201 6 -0 2 , Leases (Topic 842) . This update requires a lessee to record a right-to-use asset and a liability representing the obligation to make lease payments for long-term leases. For public business entities this update is effective for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years. For non-public business entities this update is effective for fiscal years beginning after December 15, 2019, and interim periods within those fiscal years beginning after December 15, 2020. Management is currently evaluating the impact of adopting this update to the Consolidated Financial Statements . In January 2016, the FASB issued ASU 2016-01, Financial Instruments – Overall, (Subtopic 825-10). The amendments in this update address certain aspects of recognition, measurement, presentation, and disclosure of financial instruments. Targeted improvements to generally accepted accounting principles include the requirement for equity investments (except those accounted for under the equity method of accounting or those that result in consolidation of the investee) to be measured at fair value with changes in fair value recognized in net income, the elimination of the requirement for non-public business entities to disclose the fair value of financial instruments measured at amortized cost and the elimination of the requirement for public business entities to disclose the methods and significant assumptions used to estimate the fair value for financial instruments measured at amortized cost. For public business entities, the amendments in this update are effective for fiscal years beginning after December 15, 2017, including interim periods within those fiscal years. For non-public business entities, the amendments in this update are effective for fiscal years beginning after December 15, 2018, and interim periods within fiscal years beginning after December 15, 2019. Management is currently evaluating the impact of adopting this update to the Consolidated Financial Statements. In May 2014, the FASB issued ASU 2014-09, Revenue from Contracts with Customers (Topic 606) . The amendments in this update create Topic 606, Revenue from Contracts with Customers , and supersede the revenue recognition requirements in Topic 605, Revenue Recognition , including most industry-specific revenue recognition guidance throughout the Industry Topics of the Codification. The core principle of Topic 606 is that an entity recognizes revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. To achieve the core principle, a company should apply a five step approach to revenue recognition. For public business entities, this ASU is effective for annual reporting periods, including interim periods, beginning after December 15, 2017. For non-public business entities, this ASU is effective for annual reporting periods beginning after December 31, 2018, and interim periods within fiscal years beginning after December 15, 2019. Early application is permitted, but only for annual reporting periods beginning after December 15, 2016. Management is currently evaluating the impact of adopting this update to the Consolidated Financial Statements .

SECURITIES (Tables)

SECURITIES (Tables)	6 Months Ended
	Jun. 30, 2016
SECURITIES
Schedule of securities with gross unrealized gains and losses	Gross Gross Amortized Unrealized Unrealized Fair Cost Gains Losses Value (In thousands) June 30, 2016: Securities available for sale U.S. government and government-sponsored enterprise obligations $ $ $ — $ U.S. government-sponsored residential mortgage-backed securities U.S. government-sponsored collateralized mortgage obligations — SBA asset-backed securities — Total securities available for sale $ $ $ $ Securities held to maturity U.S. government-sponsored residential mortgage-backed securities $ $ $ — $ U.S. government-sponsored collateralized mortgage obligations — Municipal bonds — Total securities held to maturity $ $ $ — $ December 31, 2015: Securities available for sale U.S. government and government-sponsored enterprise obligations $ $ — $ $ U.S. government-sponsored residential mortgage-backed securities U.S. government-sponsored collateralized mortgage obligations SBA asset-backed securities Total securities available for sale $ $ $ $ Securities held to maturity U.S. government and government-sponsored enterprise obligations $ $ $ $ U.S. government-sponsored residential mortgage-backed securities U.S. government-sponsored collateralized mortgage obligations — Municipal bonds — Total securities held to maturity $ $ $ $
Schedule of debt securities by contractual maturity	Available for Sale Held to Maturity Amortized Fair Amortized Fair Cost Value Cost Value (In thousands) After 5 years through 10 years $ $ $ $ Over 10 years U.S. government-sponsored residential mortgage-backed securities U.S. government-sponsored collateralized mortgage obligations SBA asset-backed securities — — Total $ $ $ $
Schedule of securities with continuous losses	Less Than Twelve Months Twelve Months and Over Gross Gross Unrealized Fair Unrealized Fair Losses Value Losses Value (In thousands) June 30, 2016: Securities available for sale U.S. government-sponsored residential mortgage-backed securities $ $ $ $ December 31, 2015: Securities available for sale U.S. government and government-sponsored enterprise obligations $ $ $ — $ — U.S. government-sponsored residential mortgage-backed securities U.S. government-sponsored collateralized mortgage obligations — — SBA asset-backed securities — — $ $ $ $ Securities held to maturity U.S. government and government-sponsored enterprise obligations $ $ $ — $ — U.S. government-sponsored residential mortgage-backed securities — — $ $ $ $

LOANS - (Tables)

LOANS - (Tables)	6 Months Ended
	Jun. 30, 2016
LOANS
Summary of balances of loans	June 30, December 31, 2016 2015 (In thousands) Residential real estate: One-to-four family $ $ Second mortgages and equity lines of credit Commercial real estate Construction Total mortgage loans on real estate Commercial Consumer loans: Auto Personal Total consumer loans Total loans Allowance for loan losses Net deferred loan costs Loans, net $ $
Schedule of activity in allowance for loan losses and allocation of allowance to loan segments	Mortgage Loans Commercial Residential Real Estate Construction Commercial Consumer Unallocated Total (In thousands) Balance at December 31, 2015 $ $ $ $ $ $ $ Provision (credit) for loan losses Charge-offs — — — Recoveries — — — Balance at June 30, 2016 $ $ $ $ $ $ $ Balance at December 31, 2014 $ $ $ $ $ $ $ Provision (credit) for loan losses Charge-offs — — — — Recoveries — — — Balance at June 30, 2015 $ $ $ $ $ $ $ Mortgage Loans Commercial Residential Real Estate Construction Commercial Consumer Unallocated Total (In thousands) Balance at March 31, 2016 $ $ $ $ $ $ $ Provision (credit) for loan losses Charge-offs — — — Recoveries — — — Balance at June 30, 2016 $ $ $ $ $ $ $ Balance at March 31, 2015 $ $ $ $ $ $ $ Provision (credit) for loan losses Charge-offs — — — — Recoveries — — — Balance at June 30, 2015 $ $ $ $ $ $ $ At June 30, 2016 Mortgage Loans Commercial Residential Real Estate Construction Commercial Consumer Unallocated Total (In thousands) Loans: Impaired loans $ $ — $ $ $ — $ — $ Non-impaired loans — Total loans $ $ $ $ $ $ — $ Allowance for loan losses: Impaired loans $ $ — $ — $ $ — $ — $ Non-impaired loans Total allowance for loan losses $ $ $ $ $ $ $ At December 31, 2015 Mortgage Loans Commercial Residential Real Estate Construction Commercial Consumer Unallocated Total (In thousands) Loans: Impaired loans $ $ $ $ $ — $ — $ Non-impaired loans — Total loans $ $ $ $ $ $ — $ Allowance for loan losses: Impaired loans $ $ $ — $ $ — $ — $ Non-impaired loans Total allowance for loan losses $ $ $ $ $ $ $
Summary of past due and non-accrual loans	90 Days 30-59 Days 60-89 Days or More Total Loans on Past Due Past Due Past Due Past Due Non-accrual (In thousands) June 30, 2016 Residential real estate: One-to-four family $ $ $ $ $ Second mortgages and equity lines of credit Commercial real estate — — — Construction — — — — Commercial — Consumer: Auto Personal Total $ $ $ $ $ December 31, 2015 Residential real estate: One-to-four family $ $ $ $ $ Second mortgages and equity lines of credit Commercial real estate — — Construction — — Commercial — — Consumer: Auto Personal Total $ $ $ $ $
Schedule of information pertaining to impaired loans	June 30, 2016 December 31, 2015 Unpaid Unpaid Recorded Principal Related Recorded Principal Related Investment Balance Allowance Investment Balance Allowance (In thousands) Impaired loans without a valuation allowance: Residential $ $ $ — $ $ $ — Commercial real estate — — — — Construction — — Commercial — — Total $ $ $ — $ $ $ — Impaired loans with a valuation allowance: Residential $ $ $ $ $ $ Commercial real estate — — — Commercial Total $ $ $ $ $ $ Three Months Ended June 30, 2016 Three Months Ended June 30, 2015 Interest Interest Average Interest Income Average Interest Income Recorded Income Recognized Recorded Income Recognized Investment Recognized on Cash Basis Investment Recognized on Cash Basis (In thousands) Residential $ $ $ $ $ $ Commercial real estate — — — Construction — — — Commercial Total $ $ $ $ $ $ Six Months Ended June 30, 2016 Six Months Ended June 30, 2015 Interest Interest Average Interest Income Average Interest Income Recorded Income Recognized Recorded Income Recognized Investment Recognized on Cash Basis Investment Recognized on Cash Basis (In thousands) Residential $ $ $ $ $ $ Commercial real estate — — Construction — Commercial Total $ $ $ $ $ $
Summary of troubled debt restructurings that were modified	Pre-Modification Post-Modification Outstanding Outstanding Number of Recorded Recorded Contracts Investment Investment (In thousands) Three Months Ended June 30, 2016 Residential 2 $ 196 $ 232 Six Months Ended June 30, 2016 Residential 2 $ 196 $ 232
Summary of troubled debt restructures that defaulted	Number of Recorded Contracts Investment Three Months Ended June 30, (In thousands) 2016 Residential 1 $ 2015 Residential 0 $ — Number of Recorded Contracts Investment Six Months Ended June 30, (In thousands) 2016 Residential 1 $ 2015 Residential 3 $
Schedule of loans by risk rating	June 30, 2016 December 31, 2015 Commercial Commercial Real Estate Commercial Construction Real Estate Commercial Construction (In thousands) Loans rated 1 - 6 $ $ $ $ $ $ Loans rated 7 — — — — — Loans rated 8 — — — — Loans rated 9 — — — — Loans rated 10 — — — — — — Loans not rated — — $ $ $ $ $ $

MORTGAGE LOAN SERVICING (Tables

MORTGAGE LOAN SERVICING (Tables)	6 Months Ended
	Jun. 30, 2016
MORTGAGE LOAN SERVICING
Tabular disclosure of assumptions used in the calculation of fair value of MSR	2016 2015 Prepayment speed % % Discount rate Default rate
Schedule of summarized changes to mortgage servicing rights	The following summarizes changes to mortgage servicing rights for the six months ended June 30, 2016 and 2015: Six Months Ended June 30, 2016 2015 Balance, beginning of period (2016 at fair value) $ $ Change in accounting - fair value election — Additions from loans sold with servicing retained Changes in fair value due to : Reductions from loans paid off during the period Changes in valuation inputs or assumptions Balance, end of period $ $

DEPOSITS (Tables)

DEPOSITS (Tables)	6 Months Ended
	Jun. 30, 2016
DEPOSITS
Summary of deposit balances, by type	June 30, December 31, 2016 2015 (In thousands) NOW and demand deposit accounts $ $ Regular savings and club accounts Money market deposit accounts Total non-certificate accounts Term certificate accounts greater than or equal to $250,000 Term certificate accounts less than $250,000 Total certificate accounts Total deposits $ $
Summary of certificate accounts by maturity	Weighted Average Amount Rate (Dollars in thousands) Within 1 year $ % Over 1 year to 2 years Over 2 years to 3 years Over 3 years to 4 years Over 4 years to 5 years $ %

BORROWED FUNDS (Tables)

BORROWED FUNDS (Tables)	6 Months Ended
	Jun. 30, 2016
BORROWED FUNDS
Schedule of borrowed funds by maturity and call date	June 30, 2016 December 31, 2015 Weighted Weighted Scheduled Redeemable Average Scheduled Redeemable Average Maturity at Call Date (1) Rate (2) Maturity at Call Date (1) Rate (2) (Dollars in thousands) Year ending December 31: 2016 $ — $ — % $ $ % 2017 2018 2019 2020 2021 and thereafter* $ $ % $ $ %  Includes an amortizing advance requiring monthly principal and interest payments of $1,000 . (1) Callable FHLB advances are shown in the respective periods assuming that the callable debt is redeemed at the call date, while all other advances are shown in the periods corresponding to their scheduled maturity date. (2) Weighted average rate based on scheduled maturity dates.

OTHER COMMITMENTS AND CONTING30

OTHER COMMITMENTS AND CONTINGENCIES (Tables)	6 Months Ended
	Jun. 30, 2016
OTHER COMMITMENTS AND CONTINGENCIES
Schedule of financial instruments with off-balance sheet credit risk	June 30, December 31, 2016 2015 (In thousands) Commitments to grant loans $ $ Unadvanced funds on home equity lines of credit Unadvanced funds on revolving lines of credit Unadvanced funds on construction loans

DERIVATIVES (Tables)

DERIVATIVES (Tables)	6 Months Ended
	Jun. 30, 2016
DERIVATIVES
Schedule of the fair values of derivative instruments in the balance sheet	Assets Liabilities Balance Balance Notional Sheet Fair Sheet Fair Amount Location Value Location Value (In thousands) June 30, 2016: Derivative loan commitments $ Other assets $ Other liabilities $ — Forward loan sale commitments Other assets — Other liabilities Interest rate swaps Other assets Other liabilities Total derivatives not designated as hedging instruments $ $ December 31, 2015: Derivative loan commitments $ Other assets $ Other liabilities $ — Forward loan sale commitments Other assets Other liabilities Interest rate swaps Other assets Other liabilities Total derivatives not designated as hedging instruments $ $
Schedule of information pertaining to the Company's derivative instruments on the statements of income	Three Months Ended June 30, Six Months Ended June 30, 2016 2015 2016 2015 Location of Gain (Loss) Amount of Gain (Loss) Amount of Gain (Loss) (In thousands) (In thousands) Derivative loan commitments Mortgage banking income $ $ $ $ Forward loan sale commitments Mortgage banking income Interest rate swaps Other income — — Total $ $ $ $

MINIMUM REGULATORY CAPITAL RE32

MINIMUM REGULATORY CAPITAL REQUIREMENTS (Tables)	6 Months Ended
	Jun. 30, 2016
MINIMUM REGULATORY CAPITAL REQUIREMENTS
Summary of bank's actual capital levels and minimum required levels	Minimum To Be Well Capitalized Under Prompt Minimum Corrective Action Actual Capital Requirement Provisions Amount Ratio Amount Ratio Amount Ratio (Dollars in thousands) June 30, 2016: HarborOne Bancorp, Inc. Common equity Tier 1 capital to risk-weighted assets $ % $ % $ % Tier 1 capital to risk-weighted assets Total capital to risk-weighted assets Tier 1 capital to average assets HarborOne Bank Common equity Tier 1 capital to risk-weighted assets $ % $ % $ % Tier 1 capital to risk-weighted assets Total capital to risk-weighted assets Tier 1 capital to average assets December 31, 2015: HarborOne Bank Common equity Tier 1 capital to risk-weighted assets $ % $ % $ % Tier 1 capital to risk-weighted assets Total capital to risk-weighted assets Tier 1 capital to average assets

COMPREHENSIVE INCOME (LOSS) (Ta

COMPREHENSIVE INCOME (LOSS) (Tables)	6 Months Ended
	Jun. 30, 2016
COMPREHENSIVE INCOME (LOSS)
Schedule of components of accumulated other comprehensive income (loss)	June 30, December 31, 2016 2015 (In thousands) Securities available for sale: Net unrealized gain $ $ Related tax effect Net-of-tax amount Directors' retirement plan: Prior service cost Related tax effect Net-of-tax amount Total accumulated other comprehensive income (loss) $ $
Summary of components of OCI	Unrealized Gains and Losses on Director's Available-for-Sale Retirement Securities Plan Total (In thousands) Balance at beginning of period $ $ $ Other comprehensive income before reclassifications — Amounts reclassified from accumulated other comprehensive income Net current period other comprehensive income Related tax effect Balance at end of period $ $ $

FAIR VALUE OF ASSETS AND LIAB34

FAIR VALUE OF ASSETS AND LIABILITIES (Tables)	6 Months Ended
	Jun. 30, 2016
FAIR VALUE OF ASSETS AND LIABILITIES
Schedule of the fair value and unpaid principal of mortgage loans held for sale	June 30, December 31, 2016 2015 (In thousands) Mortgage loans held for sale, fair value $ $ Mortgage loans held for sale, contractual principal outstanding Fair value less unpaid principal $ $
Schedule of assets and liabilities measured at fair value on a recurring basis	Total Level 1 Level 2 Level 3 Fair Value (In thousands) June 30, 2016 Assets U.S. government and government-sponsored enterprise obligations $ — $ $ — $ U.S. government-sponsored residential mortgage-backed securities — — U.S. government-sponsored collateralized mortgage obligations — — SBA asset-backed securities — — Mortgage loans held for sale — — Mortgage servicing rights — — Derivative loan commitments — — Interest rate swaps — — $ — $ $ $ Liabilities Forward loan sale commitments $ — $ — $ $ Interest rate swaps — — $ — $ $ $ December 31, 2015 Assets U.S. government and government-sponsored enterprise obligations $ — $ $ — $ U.S. government-sponsored residential mortgage-backed securities — — U.S. government-sponsored collateralized mortgage obligations — — SBA asset-backed securities — — Mortgage loans held for sale — — Mortgage servicing rights — — Derivative loan commitments — — Forward loan sale commitments — — Interest rate swaps — — $ — $ $ $ Liabilities Forward loan sale commitments $ — $ — $ $ Interest rate swaps — — $ — $ $ $
Schedule of changes in Level 3 assets and liabilities measured at fair value on a recurring basis	Three Months Ended June 30, Six Months Ended June 30, 2016 2015 2016 2015 (In thousands) Assets: Derivative and Forward Loan Sale Commitments, Net: Balance at beginning of period $ $ $ $ Total gains (losses) included in net income (1) Balance as of period end $ $ $ $ Changes in unrealized (losses) gains relating to instruments at period end $ $ $ $ Liabilities: Derivative and Forward Loan Sale Commitments, Net: Balance at beginning of period $ $ $ $ Total gains (losses) included in net income (1) Balance as of period end $ $ $ $ Changes in unrealized (losses) gains relating to instruments at period end $ $ $ $ (1) Included in mortgage banking income on the unaudited interim Consolidated Statements of Net Income
Schedule of assets measured at fair value on a non-recurring basis	Fair Value Measurements Losses for the Losses for the Three Months Ended Six Months Ended Level 1 Level 2 Level 3 June 30, 2016 June 30, 2016 (In thousands) June 30, 2016 Impaired loans $ — $ — $ $ Other real estate owned and repossessed assets — — — $ — $ — $ $ $ Fair Value Measurements Losses for the Year Ended Level 1 Level 2 Level 3 December 31, 2015 (In thousands) December 31, 2015 Impaired loans $ — $ — $ $ Other real estate owned and repossessed assets — — $ — $ — $ $
Schedule of estimated fair values and related carrying amounts of financial instruments	June 30, 2016 Carrying Fair Value Amount Level 1 Level 2 Level 3 Total (In thousands) Financial assets: Cash and cash equivalents $ $ $ — $ — $ Securities available for sale — — Securities held to maturity — — Federal Home Loan Bank stock — — Mortgage loans held for sale — — Loans, net — — Retirement plan annuities — — Mortgage servicing rights — — Accrued interest receivable — — Financial liabilities: Deposits — — Borrowed funds — — Mortgagors' escrow accounts — — Accrued interest payable — — Derivative loan commitments: Assets — — Interest rate swap agreements: Assets — — Liabilities — — Forward loan sale commitments: Liabilities — — December 31, 2015 Carrying Fair Value Amount Level 1 Level 2 Level 3 Total (In thousands) Financial assets: Cash and cash equivalents $ $ $ — $ — $ Securities available for sale — — Securities held to maturity — — Federal Home Loan Bank stock — — Mortgage loans held for sale — — Loans, net — — Retirement plan annuities — — Mortgage servicing rights — — Accrued interest receivable — — Financial liabilities: Deposits — — Borrowed funds — — Mortgagors' escrow accounts — — Accrued interest payable — — Derivative loan commitments: Assets — — Interest rate swap agreements: Assets — — Liabilities — — Forward loan sale commitments: Assets — — Liabilities — —

SEGMENT REPORTING (Tables)

SEGMENT REPORTING (Tables)	6 Months Ended
	Jun. 30, 2016
SEGMENT REPORTING
Summary of reportable segments	Three Months Ended Three Months Ended June 30, 2016 June 30, 2015 HarborOne Merrimack HarborOne HarborOne Bank Mortgage Bancorp Eliminations Consolidated Bank (In thousands) Net interest and dividend income $ $ $ — $ — $ $ Provision for loan losses — — — Net interest income, after provision for loan losses — — Mortgage banking income: Changes in mortgage servicing rights fair value — — Other — — Total mortgage banking income — — Other noninterest income — — Total noninterest income — — Noninterest expense — Income (loss) before income taxes — Provision (benefit) for income taxes — Net income (loss) $ $ $ $ — $ $ Six Months Ended Six Months Ended June 30, 2016 June 30, 2015 HarborOne Merrimack HarborOne HarborOne Bank Mortgage Bancorp Eliminations Consolidated Bank (In thousands) Net interest and dividend income $ $ $ — $ — $ $ Provision for loan losses — — — Net interest income, after provision for loan losses — — Mortgage banking income: Changes in mortgage servicing rights fair value — — Other — — Total mortgage banking income — — Other noninterest income — — Total noninterest income — — Noninterest expense — Income (loss) before income taxes — Provision (benefit) for income taxes — Net income (loss) $ $ $ $ — $ $ Total assets $ $ $ $ $ $ Goodwill $ $ $ — $ — $ $ Merrimack Mortgage was acquired on July 1, 2015.

SUMMARY OF SIGNIFICANT ACCOUN36

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details)	Jun. 29, 2016USD ($)$ / sharesshares	Jun. 30, 2016USD ($)companyitemstateshares
Number of security corporations | company		2
Number of full-service bank offices | item		14
Number of limited-service bank offices | item		2
Plan of Conversion
Issuance of common stock (in shares)	14,454,396	32,120,880
Shares issued (in dollars per share) | $ / shares	$ 10
Unallocated shares held by the ESOP	1,187,188	1,187,188
Common Stock, shares outstanding		32,120,880
Total deferred costs of stock offering | $	$ 3,870,000	$ 3,870,000
Merrimack Mortgage
Number of offices | item		33
Additional states licensed to lend | state		5
HarborOne Foundation
Plan of Conversion
Issuance of common stock (in shares)	385,450
HarborOne Mutual Bancshares
Plan of Conversion
Issuance of common stock (in shares)	17,281,034

SUMMARY OF SIGNIFICANT ACCOUN37

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Loans (Details)	6 Months Ended
	Jun. 30, 2016
LTV 80 to 100 Percent | Residential
Loan To Value Ratio	80

SECURITIES - Gross unrealized g

SECURITIES - Gross unrealized gains and losses (Details) - USD ($) $ in Thousands	Jun. 30, 2016	Dec. 31, 2015
Securities available for sale
Amortized Cost	$ 119,393	$ 128,329
Gross Unrealized Gains	2,749	744
Gross Unrealized Losses	185	532
Fair Value	121,957	128,541
Securities held to maturity
Amortized Cost	50,504	63,579
Gross Unrealized Gains	2,580	1,955
Gross Unrealized Losses		328
Fair Value	53,084	65,206
Pledged as collateral	7,700
U.S. government and government-sponsored enterprise obligations
Securities available for sale
Amortized Cost	9,983	5,000
Gross Unrealized Gains	60
Gross Unrealized Losses		33
Fair Value	10,043	4,967
Securities held to maturity
Amortized Cost		9,954
Gross Unrealized Gains		34
Gross Unrealized Losses		48
Fair Value		9,940
U.S. government-sponsored residential mortgage-backed securities
Securities available for sale
Amortized Cost	42,151	47,003
Gross Unrealized Gains	596	23
Gross Unrealized Losses	185	410
Fair Value	42,562	46,616
Securities held to maturity
Amortized Cost	22,392	24,330
Gross Unrealized Gains	441	99
Gross Unrealized Losses		280
Fair Value	22,833	24,149
U.S. government-sponsored collateralized mortgage obligations
Securities available for sale
Amortized Cost	43,578	46,068
Gross Unrealized Gains	1,374	488
Gross Unrealized Losses		86
Fair Value	44,952	46,470
Securities held to maturity
Amortized Cost	2,938	3,264
Gross Unrealized Gains	219	150
Fair Value	3,157	3,414
SBA asset-backed securities
Securities available for sale
Amortized Cost	23,681	30,258
Gross Unrealized Gains	719	233
Gross Unrealized Losses		3
Fair Value	24,400	30,488
Municipal bonds
Securities held to maturity
Amortized Cost	25,174	26,031
Gross Unrealized Gains	1,920	1,672
Fair Value	$ 27,094	$ 27,703

SECURITIES - Contractual maturi

SECURITIES - Contractual maturity (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015	Dec. 31, 2015
Amortized Cost-Available-for-Sale
After 5 years through 10 years	$ 5,000,000		$ 5,000,000
Over 10 years	4,983,000		4,983,000
Total for contractual maturity	9,983,000		9,983,000
Amortized Cost	119,393,000		119,393,000		$ 128,329,000
Fair Value-Available-for-Sale
After 5 years through 10 years	5,027,000		5,027,000
Over 10 years	5,016,000		5,016,000
Total for contractual maturity	10,043,000		10,043,000
Total	121,957,000		121,957,000		128,541,000
Amortized Cost-Held-to-Maturity
After 5 years through 10 years	2,882,000		2,882,000
Over 10 years	22,292,000		22,292,000
Total for contractual maturity	25,174,000		25,174,000
Amortized Cost	50,504,000		50,504,000		63,579,000
Fair Value-Held-to-Maturity
After 5 years through 10 years	2,997,000		2,997,000
Over 10 years	24,097,000		24,097,000
Total for contractual maturity	27,094,000		27,094,000
Total	53,084,000		53,084,000		65,206,000
Sales and proceeds
Proceeds from sales of securities	0	$ 0	8,735,000	$ 3,367,000
Gain on sale of securities available for sale			242,000	186,000
Gain on securities called	41,000	0	41,000
Amortized cost of investment sold	10,725,000		10,725,000
Gain on securities called				108,000
Amortized cost of investment sold		$ 5,000,000		$ 5,000,000
Amortized cost of investment sold	15,725,000		15,725,000
U.S. government-sponsored residential mortgage-backed securities
Amortized Cost-Available-for-Sale
No single maturity date	42,151,000		42,151,000
Amortized Cost	42,151,000		42,151,000		47,003,000
Fair Value-Available-for-Sale
No single maturity date	42,562,000		42,562,000
Total	42,562,000		42,562,000		46,616,000
Amortized Cost-Held-to-Maturity
No single maturity date	22,392,000		22,392,000
Amortized Cost	22,392,000		22,392,000		24,330,000
Fair Value-Held-to-Maturity
No single maturity date	22,833,000		22,833,000
Total	22,833,000		22,833,000		24,149,000
U.S. government-sponsored collateralized mortgage obligations
Amortized Cost-Available-for-Sale
No single maturity date	43,578,000		43,578,000
Amortized Cost	43,578,000		43,578,000		46,068,000
Fair Value-Available-for-Sale
No single maturity date	44,952,000		44,952,000
Total	44,952,000		44,952,000		46,470,000
Amortized Cost-Held-to-Maturity
No single maturity date	2,938,000		2,938,000
Amortized Cost	2,938,000		2,938,000		3,264,000
Fair Value-Held-to-Maturity
No single maturity date	3,157,000		3,157,000
Total	3,157,000		3,157,000		3,414,000
SBA asset-backed securities
Amortized Cost-Available-for-Sale
No single maturity date	23,681,000		23,681,000
Amortized Cost	23,681,000		23,681,000		30,258,000
Fair Value-Available-for-Sale
No single maturity date	24,400,000		24,400,000
Total	$ 24,400,000		$ 24,400,000		$ 30,488,000
SBA asset-backed securities | Minimum
Fair Value-Held-to-Maturity
Maturity period			6 years
SBA asset-backed securities | Maximum
Fair Value-Held-to-Maturity
Maturity period			27 years

SECURITIES - Gross unrealized l

SECURITIES - Gross unrealized losses aggregated by category (Details)	6 Months Ended
	Jun. 30, 2016USD ($)security	Dec. 31, 2015USD ($)
Continuous unrealized losses, Gross Unrealized Losses, Available-for-Sale
Less than Twelve Months		$ 113,000
Twelve Months and Over		419,000
Continuous unrealized losses, Fair Value, Available-for-Sale
Less Than Twelve Months		23,501,000
Twelve Months and Over		29,762,000
Continuous unrealized losses, Gross Unrealized Losses, Held-to-Maturity
Less than Twelve Months		48,000
Twelve Months and Over		280,000
Continuous unrealized losses, Fair Value, Held-for-Maturity
Less Than Twelve Months		4,952,000
Twelve Months and Over		20,991,000
Number of debt securities with unrealized loss | security	5
Amortized cost of securities with unrealized losses	$ 17,360,000
Aggregate depreciation of securities with unrealized losses (as a percent)	1.07%
U.S. government and government-sponsored enterprise obligations
Continuous unrealized losses, Gross Unrealized Losses, Available-for-Sale
Less than Twelve Months		33,000
Continuous unrealized losses, Fair Value, Available-for-Sale
Less Than Twelve Months		4,967,000
Continuous unrealized losses, Gross Unrealized Losses, Held-to-Maturity
Less than Twelve Months		48,000
Continuous unrealized losses, Fair Value, Held-for-Maturity
Less Than Twelve Months		4,952,000
U.S. government-sponsored residential mortgage-backed securities
Continuous unrealized losses, Gross Unrealized Losses, Available-for-Sale
Less than Twelve Months	$ 38,000	77,000
Twelve Months and Over	147,000	333,000
Continuous unrealized losses, Fair Value, Available-for-Sale
Less Than Twelve Months	3,999,000	10,780,000
Twelve Months and Over	$ 13,176,000	19,837,000
Continuous unrealized losses, Gross Unrealized Losses, Held-to-Maturity
Twelve Months and Over		280,000
Continuous unrealized losses, Fair Value, Held-for-Maturity
Twelve Months and Over		20,991,000
U.S. government-sponsored collateralized mortgage obligations
Continuous unrealized losses, Gross Unrealized Losses, Available-for-Sale
Twelve Months and Over		86,000
Continuous unrealized losses, Fair Value, Available-for-Sale
Twelve Months and Over		9,925,000
SBA asset-backed securities
Continuous unrealized losses, Gross Unrealized Losses, Available-for-Sale
Less than Twelve Months		3,000
Continuous unrealized losses, Fair Value, Available-for-Sale
Less Than Twelve Months		$ 7,754,000

LOANS - Summary of Balances of

LOANS - Summary of Balances of Loans (Details) - USD ($) $ in Thousands	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2014
Loans
Total loans	$ 1,824,446		$ 1,731,071
Allowance for loan losses	(14,439)	$ (13,696)	(13,700)	$ (14,118)	$ (13,781)	$ (13,934)
Net deferred loan costs	10,893		12,017
Loans, net	1,820,900		1,729,388
Mortgage loans on real estate
Loans
Total loans	1,181,969		1,111,655
Residential
Loans
Total loans	773,169		810,343
Allowance for loan losses	(5,619)	(5,548)	(5,816)	(6,553)	(7,103)	(7,755)
Residential | 1-4 family
Loans
Total loans	678,193		710,969
Residential | Second mortgages and equity lines of credit
Loans
Total loans	94,976		99,374
Commercial real estate
Loans
Total loans	377,386		265,482
Allowance for loan losses	(5,359)	(4,449)	(4,365)	(3,450)	(2,568)	(2,628)
Construction
Loans
Total loans	31,414		35,830
Allowance for loan losses	(587)	(550)	(581)	(572)	(440)	(452)
Commercial
Loans
Total loans	82,333		70,472
Allowance for loan losses	(1,164)	(1,467)	(1,454)	(1,239)	(1,078)	(1,095)
Consumer loans
Loans
Total loans	560,144		548,944
Allowance for loan losses	(794)	$ (835)	(830)	$ (1,193)	$ (1,193)	$ (1,255)
Consumer loans | Auto
Loans
Total loans	543,657		532,071
Consumer loans | Personal
Loans
Total loans	$ 16,487		$ 16,873

LOANS - Loans Sold or Transferr

LOANS - Loans Sold or Transferred (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015	Dec. 31, 2015
Loans
Amount of loans sold	$ 4,721,000	$ 0	$ 24,678,000	$ 0
Auto
Loans
Amount of loans sold	5,064,000		9,662,000
Gain on sale of loans	56,000		106,000
Unpaid principal balance of loans serviced for others	40,181,000		40,181,000		$ 40,370,000
Commercial - real estate
Loans
Unpaid principal balance of loans serviced for others	26,201,000		26,201,000		$ 11,854,000
Mortgage banking income
Loans
Gain on sale of loans	$ 210,000		$ 501,000
Auto
Loans
Amount of loans sold				$ 0

LOANS - Allowance for Loan Loss

LOANS - Allowance for Loan Losses Activity and Allocation to Loan Segments (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Dec. 31, 2015
Activity in the allowance for loan losses
Balance	$ 13,696	$ 13,781	$ 13,700	$ 13,934
Provision for loan losses	801	667	1,006	917
Charge-offs	(297)	(593)	(589)	(1,047)
Recoveries	239	263	322	314
Balance	14,439	14,118	14,439	14,118
Allocation of the allowance to loan segments
Total loans					$ 1,824,446	$ 1,731,071
Total allowance for loan losses	13,696	13,781	13,700	13,934	14,439	13,700
Impaired loans
Activity in the allowance for loan losses
Balance			2,194
Balance	2,001		2,001
Allocation of the allowance to loan segments
Total loans					52,575	54,625
Total allowance for loan losses	2,001		2,194		2,001	2,194
Non-impaired loans
Activity in the allowance for loan losses
Balance			11,506
Balance	12,438		12,438
Allocation of the allowance to loan segments
Total loans					1,771,871	1,676,446
Total allowance for loan losses	12,438		11,506		12,438	11,506
Residential
Activity in the allowance for loan losses
Balance	5,548	7,103	5,816	7,755
Provision for loan losses	(53)	(323)	(268)	(807)
Charge-offs	(55)	(433)	(127)	(619)
Recoveries	179	206	198	224
Balance	5,619	6,553	5,619	6,553
Allocation of the allowance to loan segments
Total loans					773,169	810,343
Total allowance for loan losses	5,548	7,103	5,816	7,755	5,619	5,816
Residential | Impaired loans
Activity in the allowance for loan losses
Balance			1,977
Balance	1,967		1,967
Allocation of the allowance to loan segments
Total loans					49,378	53,452
Total allowance for loan losses	1,967		1,977		1,967	1,977
Residential | Non-impaired loans
Activity in the allowance for loan losses
Balance			3,839
Balance	3,652		3,652
Allocation of the allowance to loan segments
Total loans					723,791	756,891
Total allowance for loan losses	3,652		3,839		3,652	3,839
Commercial real estate
Activity in the allowance for loan losses
Balance	4,449	2,568	4,365	2,628
Provision for loan losses	910	882	994	822
Balance	5,359	3,450	5,359	3,450
Allocation of the allowance to loan segments
Total loans					377,386	265,482
Total allowance for loan losses	4,449	2,568	4,365	2,628	5,359	4,365
Commercial real estate | Impaired loans
Activity in the allowance for loan losses
Balance			13
Allocation of the allowance to loan segments
Total loans						483
Total allowance for loan losses			13			13
Commercial real estate | Non-impaired loans
Activity in the allowance for loan losses
Balance			4,352
Balance	5,359		5,359
Allocation of the allowance to loan segments
Total loans					377,386	264,999
Total allowance for loan losses	5,359		4,352		5,359	4,352
Construction
Activity in the allowance for loan losses
Balance	550	440	581	452
Provision for loan losses	37	132	6	120
Balance	587	572	587	572
Allocation of the allowance to loan segments
Total loans					31,414	35,830
Total allowance for loan losses	550	440	581	452	587	581
Construction | Impaired loans
Allocation of the allowance to loan segments
Total loans					134	136
Construction | Non-impaired loans
Activity in the allowance for loan losses
Balance			581
Balance	587		587
Allocation of the allowance to loan segments
Total loans					31,280	35,694
Total allowance for loan losses	587		581		587	581
Commercial
Activity in the allowance for loan losses
Balance	1,467	1,078	1,454	1,095
Provision for loan losses	(299)	154	(288)	137
Charge-offs	(5)		(5)
Recoveries	1	7	3	7
Balance	1,164	1,239	1,164	1,239
Allocation of the allowance to loan segments
Total loans					82,333	70,472
Total allowance for loan losses	1,467	1,078	1,454	1,095	1,164	1,454
Commercial | Impaired loans
Activity in the allowance for loan losses
Balance			204
Balance	34		34
Allocation of the allowance to loan segments
Total loans					3,063	554
Total allowance for loan losses	34		204		34	204
Commercial | Non-impaired loans
Activity in the allowance for loan losses
Balance			1,250
Balance	1,130		1,130
Allocation of the allowance to loan segments
Total loans					79,270	69,918
Total allowance for loan losses	1,130		1,250		1,130	1,250
Consumer loans
Activity in the allowance for loan losses
Balance	835	1,193	830	1,255
Provision for loan losses	137	110	300	283
Charge-offs	(237)	(160)	(457)	(428)
Recoveries	59	50	121	83
Balance	794	1,193	794	1,193
Allocation of the allowance to loan segments
Total loans					560,144	548,944
Total allowance for loan losses	835	1,193	830	1,255	794	830
Consumer loans | Non-impaired loans
Activity in the allowance for loan losses
Balance			830
Balance	794		794
Allocation of the allowance to loan segments
Total loans					560,144	548,944
Total allowance for loan losses	794		830		794	830
Unallocated
Activity in the allowance for loan losses
Balance	847	1,399	654	749
Provision for loan losses	69	(288)	262	362
Balance	916	1,111	916	1,111
Allocation of the allowance to loan segments
Total allowance for loan losses	847	$ 1,399	654	$ 749	916	654
Unallocated | Non-impaired loans
Activity in the allowance for loan losses
Balance			654
Balance	916		916
Allocation of the allowance to loan segments
Total allowance for loan losses	$ 916		$ 654		$ 916	$ 654

LOANS - Summary of Past Due and

LOANS - Summary of Past Due and Non-Accrual Loans (Details) - USD ($) $ in Thousands	Jun. 30, 2016	Dec. 31, 2015
Summary of past due and non-accrual loans
Past Due	$ 14,675	$ 20,971
Loans on Non-accrual	26,009	29,427
Loans past due 90 days or more and still accruing	0	0
30 to 59 Days
Summary of past due and non-accrual loans
Past Due	3,737	8,679
60 to 89 Days
Summary of past due and non-accrual loans
Past Due	2,467	968
90 Days or More
Summary of past due and non-accrual loans
Past Due	8,471	11,324
Residential | 1-4 family
Summary of past due and non-accrual loans
Past Due	11,083	16,176
Loans on Non-accrual	22,644	25,841
Residential | 1-4 family | 30 to 59 Days
Summary of past due and non-accrual loans
Past Due	2,053	5,779
Residential | 1-4 family | 60 to 89 Days
Summary of past due and non-accrual loans
Past Due	1,609	419
Residential | 1-4 family | 90 Days or More
Summary of past due and non-accrual loans
Past Due	7,421	9,978
Residential | Second mortgages and equity lines of credit
Summary of past due and non-accrual loans
Past Due	1,175	1,618
Loans on Non-accrual	2,182	2,386
Residential | Second mortgages and equity lines of credit | 30 to 59 Days
Summary of past due and non-accrual loans
Past Due	314	610
Residential | Second mortgages and equity lines of credit | 60 to 89 Days
Summary of past due and non-accrual loans
Past Due	250	164
Residential | Second mortgages and equity lines of credit | 90 Days or More
Summary of past due and non-accrual loans
Past Due	611	844
Commercial real estate
Summary of past due and non-accrual loans
Past Due	217	173
Loans on Non-accrual		173
Commercial real estate | 60 to 89 Days
Summary of past due and non-accrual loans
Past Due	217
Commercial real estate | 90 Days or More
Summary of past due and non-accrual loans
Past Due		173
Construction
Summary of past due and non-accrual loans
Past Due		136
Loans on Non-accrual	134	136
Construction | 90 Days or More
Summary of past due and non-accrual loans
Past Due		136
Commercial
Summary of past due and non-accrual loans
Past Due	222	18
Loans on Non-accrual	763	558
Commercial | 30 to 59 Days
Summary of past due and non-accrual loans
Past Due	4	18
Commercial | 90 Days or More
Summary of past due and non-accrual loans
Past Due	218
Consumer loans | Auto
Summary of past due and non-accrual loans
Past Due	1,844	2,654
Loans on Non-accrual	258	263
Consumer loans | Auto | 30 to 59 Days
Summary of past due and non-accrual loans
Past Due	1,305	2,156
Consumer loans | Auto | 60 to 89 Days
Summary of past due and non-accrual loans
Past Due	335	358
Consumer loans | Auto | 90 Days or More
Summary of past due and non-accrual loans
Past Due	204	140
Consumer loans | Personal
Summary of past due and non-accrual loans
Past Due	134	196
Loans on Non-accrual	28	70
Consumer loans | Personal | 30 to 59 Days
Summary of past due and non-accrual loans
Past Due	61	116
Consumer loans | Personal | 60 to 89 Days
Summary of past due and non-accrual loans
Past Due	56	27
Consumer loans | Personal | 90 Days or More
Summary of past due and non-accrual loans
Past Due	$ 17	$ 53

LOANS - Impaired Loans (Details

LOANS - Impaired Loans (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015	Dec. 31, 2015
Recorded Investment
Impaired loans without a valuation allowance	$ 23,278,000		$ 23,278,000		$ 23,971,000
Impaired loans with a valuation allowance	29,297,000		29,297,000		30,654,000
Unpaid Principal Balance
Impaired loans without a valuation allowance	24,625,000		24,625,000		25,826,000
Impaired loans with a valuation allowance	30,552,000		30,552,000		31,638,000
Related Allowance
Allowance for loan losses for impaired loans	2,001,000		2,001,000		2,194,000
Impaired loans
Average Recorded Investment	52,358,000	$ 58,274,000	53,601	$ 58,695
Interest Income Recognized	757,000	829,000	1,456	1,450
Interest Income Recognized on Cash Basis	420,000	354,000	796	808
Additional funds committed to be advanced in connection with impaired loans	0		0
Residential
Recorded Investment
Impaired loans without a valuation allowance	20,394,000		20,394,000		23,600,000
Impaired loans with a valuation allowance	28,984,000		28,984,000		29,852,000
Unpaid Principal Balance
Impaired loans without a valuation allowance	21,609,000		21,609,000		25,327,000
Impaired loans with a valuation allowance	30,239,000		30,239,000		30,836,000
Related Allowance
Allowance for loan losses for impaired loans	1,967,000		1,967,000		1,977,000
Impaired loans
Average Recorded Investment	50,331,000	56,405,000	51,415
Interest Income Recognized	749,000	791,000
Interest Income Recognized on Cash Basis	412,000	316,000
Commercial real estate
Recorded Investment
Impaired loans without a valuation allowance					173,000
Impaired loans with a valuation allowance					310,000
Unpaid Principal Balance
Impaired loans without a valuation allowance					301,000
Impaired loans with a valuation allowance					310,000
Related Allowance
Allowance for loan losses for impaired loans					13,000
Impaired loans
Average Recorded Investment		613,000	242	756
Interest Income Recognized		24,000		34
Interest Income Recognized on Cash Basis		24,000		34
Construction
Recorded Investment
Impaired loans without a valuation allowance	134,000		134,000		136,000
Unpaid Principal Balance
Impaired loans without a valuation allowance	134,000		134,000		136,000
Impaired loans
Average Recorded Investment	135,000		135
Interest Income Recognized	3,000		7	5
Interest Income Recognized on Cash Basis	3,000		7	5
Commercial
Recorded Investment
Impaired loans without a valuation allowance	2,750,000		2,750,000		62,000
Impaired loans with a valuation allowance	313,000		313,000		492,000
Unpaid Principal Balance
Impaired loans without a valuation allowance	2,882,000		2,882,000		62,000
Impaired loans with a valuation allowance	313,000		313,000		492,000
Related Allowance
Allowance for loan losses for impaired loans	34,000		34,000		$ 204,000
Impaired loans
Average Recorded Investment	1,892,000	1,256,000	1,809	1,295
Interest Income Recognized	5,000	14,000	44	28
Interest Income Recognized on Cash Basis	$ 5,000	$ 14,000	$ 44	$ 28

LOANS - Troubled Debt Restructu

LOANS - Troubled Debt Restructurings (Details)	3 Months Ended		6 Months Ended
	Jun. 30, 2016USD ($)contract	Jun. 30, 2015USD ($)contract	Jun. 30, 2016USD ($)contract	Jun. 30, 2015USD ($)contract	Dec. 31, 2015USD ($)
Troubled debt restructurings
Recorded investment of troubled debt restructurings	$ 31,976,000	$ 37,511,000	$ 31,976,000	$ 37,511,000
Recorded investment of troubled debt restructurings that were nonaccruing	7,424,000	$ 11,541,000	7,424,000	$ 11,541,000
Mortgage loans in the process of foreclosure	$ 5,169,000		$ 5,169,000		$ 6,546,000
Residential
Troubled debt restructurings
Troubled debt restructurings during the period | contract	2		2
Number of troubled debt restructurings that defaulted | contract	1	0	1	3
Pre-Modification Outstanding Recorded Investment	$ 196,000		$ 196,000
Post-Modification Outstanding Recorded Investment	232,000		232,000
Recorded investment of troubled debt restructurings that defaulted	$ 109,000		$ 109,000	$ 588,000

LOANS - Risk Rating (Details)

LOANS - Risk Rating (Details) $ in Thousands	6 Months Ended
	Jun. 30, 2016USD ($)grade	Dec. 31, 2015USD ($)
Loans by risk rating
Number of grades utilized in internal loan rating system | grade	10
Total loans	$ 1,824,446	$ 1,731,071
Commercial real estate
Loans by risk rating
Total loans	377,386	265,482
Commercial real estate | Loans rated 1 - 6, pass
Loans by risk rating
Total loans	373,501	260,983
Commercial real estate | Loans not rated
Loans by risk rating
Total loans	3,885	4,499
Commercial
Loans by risk rating
Total loans	82,333	70,472
Commercial | Loans rated 1 - 6, pass
Loans by risk rating
Total loans	79,270	66,072
Commercial | Loans rated 7, special mention
Loans by risk rating
Total loans		3,362
Commercial | Loans rated 8, substandard
Loans by risk rating
Total loans	2,673	645
Commercial | Loans rated 9, doubtful
Loans by risk rating
Total loans	390	393
Construction
Loans by risk rating
Total loans	31,414	35,830
Construction | Loans rated 1 - 6, pass
Loans by risk rating
Total loans	19,309	25,761
Construction | Loans not rated
Loans by risk rating
Total loans	$ 12,105	$ 10,069

MORTGAGE LOAN SERVICING - Key A

MORTGAGE LOAN SERVICING - Key Assumptions (Details) - USD ($) $ in Millions	6 Months Ended	12 Months Ended
	Jun. 30, 2016	Dec. 31, 2015
Unpaid Principal Balance
Unpaid principal balances of mortgage loans serviced	$ 1,470	$ 1,240
Prepayment speed (weighted average)	15.78%	9.90%
Discount rate (weighted average)	9.26%	9.10%
Weighted average default rate	1.43%	1.40%

MORTGAGE LOAN SERVICING - Fair

MORTGAGE LOAN SERVICING - Fair value of MSR (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015	Dec. 31, 2014
Changes to the fair value of Mortgage Servicing Rights
Fair value, beginning of period			$ 12,958,000
Amortized cost, beginning of period					$ 2,168,000
Fair value election				$ 2,726,000
Additions from loans sold with servicing retained			4,181,000	241,000
Changes in fair value due to :
Reductions from loans paid off during the period			(664,000)	(312,000)
Changes due to valuation inputs or assumptions			(3,787,000)	(28,000)
Fair value, end of period	$ 12,688,000	$ 4,795,000	12,688,000	4,795,000
Fees and commissions, mortgage banking and servicing	$ 937,000	$ 327,000	$ 1,759,000	$ 650,000

DEPOSITS - Summary of deposits

DEPOSITS - Summary of deposits (Details) - USD ($) $ in Thousands	Jun. 30, 2016	Dec. 31, 2015
DEPOSITS
NOW and demand deposit accounts	$ 339,379	$ 320,717
Regular savings and club accounts	316,195	295,533
Money market deposit accounts	620,975	612,370
Total non-certificate accounts	1,276,549	1,228,620
Term certificate accounts greater than or equal to $250,000	68,355	81,969
Term certificate accounts less than $250,000	365,330	380,623
Total certificate accounts	433,685	462,592
Total deposits	$ 1,710,234	$ 1,691,212

DEPOSITS - Maturity of deposits

DEPOSITS - Maturity of deposits (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2016	Dec. 31, 2015
Summary of certificate accounts by maturity
Within 1 year	$ 211,715
Over 1 year to 2 years	147,019
Over 2 years to 3 years	39,526
Over 3 years to 4 years	22,616
Over 4 years to 5 years	12,809
Total certificate accounts	$ 433,685	$ 462,592
Summary of certificate accounts by maturity
Within 1 year	0.77%
Over 1 year to 2 years	1.48%
Over 2 years to 3 years	1.53%
Over 3 years to 4 years	1.68%
Over 4 years to 5 years	1.68%
Weighted average interest rate	1.15%

BORROWED FUNDS - FHLB Advances

BORROWED FUNDS - FHLB Advances (Details) - USD ($)	6 Months Ended	12 Months Ended
	Jun. 30, 2016	Dec. 31, 2015
Scheduled Maturity
2,016		$ 45,000,000
2,017	$ 40,000,000
2,017		69,500,000
2,018		50,000,000
2,018	50,000,000
2,019		35,000,000
2,019	35,000,000
2,020		50,000,000
2,020	50,000,000
2021 and thereafter		98,000
2021 and thereafter	20,096,000
Total	195,096,000	249,598,000
Monthly principal and interest payment on amortizing advance	1,000	1,000
Redeemable at Call Date
2,016	15,000,000
2,016		60,000,000
2,017		54,500,000
2,017	25,000,000
2,018		50,000,000
2,018	50,000,000
2,019		35,000,000
2,019	35,000,000
2,020		50,000,000
2,020	50,000,000
2021 and thereafter		98,000
2021 and thereafter	20,096,000
Total	$ 195,096,000	$ 249,598,000
Weighted Average Rate
2,016		1.51%
2,017		3.13%
2,017	4.22%
2,018		1.65%
2,018	1.65%
2,019		1.68%
2,019	1.68%
2,020		1.84%
2,020	1.84%
2021 and thereafter		3.75%
2021 and thereafter	1.80%
Weighted average	2.24%	2.08%

BORROWED FUNDS - Others (Detail

BORROWED FUNDS - Others (Details) - USD ($)	6 Months Ended
	Jun. 30, 2016	Dec. 31, 2015
Federal Reserve Bank
Borrowed funds
Percentage of carrying value pledged as collateral	71.00%
Amortized borrowing capacity	$ 246,600,000	$ 288,000,000
Amount outstanding	$ 0	$ 0
Federal Home Loan Bank Advances | U.S. government-sponsored enterprise and mortgage-backed securities obligations
Borrowed funds
Percentage of carrying value pledged as collateral on FHLB advances	94.00%
Federal Home Loan Bank Advances | First mortgage loans on owner-occupied residential property
Borrowed funds
Percentage of carrying value pledged as collateral on FHLB advances	79.00%

INCOME TAXES (Details)

INCOME TAXES (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015	Dec. 31, 2015
INCOME TAXES
Income tax provision (benefit)	$ (749)	$ 290	$ (687)	$ 534
Tax benefit for the Foundation expense			$ 1,900
Effective tax rate	34.60%	21.42%	34.70%	21.22%
Deferred tax liability	$ 1,578		$ 1,578		$ 989

OTHER COMMITMENTS AND CONTING55

OTHER COMMITMENTS AND CONTINGENCIES (Details) - USD ($) $ in Thousands	Jun. 30, 2016	Dec. 31, 2015
Commitments to grant loans
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items]
Financial instruments committed contract amount	$ 124,177	$ 62,445
Unadvanced funds on home equity lines of credit
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items]
Financial instruments committed contract amount	82,243	82,881
Unadvanced funds on revolving lines of credit
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items]
Financial instruments committed contract amount	30,910	42,488
Unadvanced funds on construction loans
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items]
Financial instruments committed contract amount	$ 52,528	$ 29,809

DERIVATIVES (Details)

DERIVATIVES (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015	Dec. 31, 2015
Derivative disclosures
Gain (loss) on interest rate derivative instruments not designated as hedging instrument	$ 303	$ 78	$ 668	$ 124
Not designated as hedging instruments | Other assets
Derivative disclosures
Fair Value, Assets	8,606		8,606		$ 2,887
Not designated as hedging instruments | Other liabilities
Derivative disclosures
Fair Value, Liabilities	6,366		$ 6,366		1,315
Commitments to grant loans
Derivative disclosures
Loan commitment specified period			60 days
Commitments to grant loans | Mortgage banking income
Derivative disclosures
Gain (loss) on interest rate derivative instruments not designated as hedging instrument	1,650	(41)	$ 3,091	36
Commitments to grant loans | Not designated as hedging instruments
Derivative disclosures
Notional Amount	188,017		188,017		109,610
Commitments to grant loans | Not designated as hedging instruments | Other assets
Derivative disclosures
Fair Value, Assets	4,381		4,381		1,432
Forward loan sale commitments | Mortgage banking income
Derivative disclosures
Gain (loss) on interest rate derivative instruments not designated as hedging instrument	(1,347)	116	(2,423)	85
Forward loan sale commitments | Not designated as hedging instruments
Derivative disclosures
Notional Amount	237,033		237,033		123,619
Forward loan sale commitments | Not designated as hedging instruments | Other assets
Derivative disclosures
Fair Value, Assets					229
Forward loan sale commitments | Not designated as hedging instruments | Other liabilities
Derivative disclosures
Fair Value, Liabilities	2,141		2,141		89
Interest rate swaps | Other income
Derivative disclosures
Gain (loss) on interest rate derivative instruments not designated as hedging instrument		$ 3		$ 3
Interest rate swaps | Mortgage-backed securities
Derivative disclosures
Securities pledged to secure the Company's liability for the offsetting interest rate swaps	7,700		7,700
Interest rate swaps | Not designated as hedging instruments
Derivative disclosures
Notional Amount	107,987		107,987		63,789
Interest rate swaps | Not designated as hedging instruments | Other assets
Derivative disclosures
Fair Value, Assets	4,225		4,225		1,226
Interest rate swaps | Not designated as hedging instruments | Other liabilities
Derivative disclosures
Fair Value, Liabilities	$ 4,225		$ 4,225		$ 1,226

COMPENSATION AND BENEFIT PLANS

COMPENSATION AND BENEFIT PLANS (Details) - USD ($)	Jun. 29, 2016	Jun. 30, 2016	Mar. 31, 2016	Jun. 30, 2016
COMPENSATION AND BENEFIT PLANS
Increase in benefit obligation			$ 891,000
Shares committed per year		59,359		59,359
Fair value of ESOP shares				$ 15,300,000
Unearned ESOP Shares		$ 11,872,000		$ 11,872,000
Unallocated shares held by the ESOP	1,187,188			1,187,188
ESOP compensation expense		$ 0		$ 0

MINIMUM REGULATORY CAPITAL RE58

MINIMUM REGULATORY CAPITAL REQUIREMENTS (Details) - USD ($) $ in Thousands	Jun. 30, 2016	Dec. 31, 2015
Common equity Tier 1 to risk-weighted assets [Abstract]
Actual, Capital amount	$ 309,762
Actual, Ratio (as a percent)	17.10%
Minimum Capital Requirement	$ 81,650
Minimum Capital Requirement (as a percent)	4.50%
Minimum Required To Be Well Capitalized	$ 117,940
Minimum Required To Be Well Capitalized (as a percent)	6.50%
Tier 1 capital to risk weighted assets
Actual, Capital amount	$ 309,762
Actual, Ratio (as a percent)	17.10%
Minimum Capital Requirement	$ 108,867
Minimum Capital Requirement (as a percent)	6.00%
Minimum Required To Be Well Capitalized	$ 145,156
Minimum Required To Be Well Capitalized (as a percent)	8.00%
Total capital to risk-weighted assets
Actual, Capital amount	$ 324,201
Actual, Ratio (as a percent)	17.90%
Minimum Capital Requirement	$ 145,156
Minimum Capital Requirement (as a percent)	8.00%
Minimum Required To Be Well Capitalized	$ 181,445
Minimum Required To Be Well Capitalized (as a percent)	10.00%
Tier 1 capital to average assets
Actual, Capital amount	$ 309,762
Actual, Ratio (as a percent)	13.90%
Minimum Capital Requirement	$ 177,916
Minimum Capital Requirement (as a percent)	8.00%
Minimum Required To Be Well Capitalized	$ 177,916
Minimum Required To Be Well Capitalized (as a percent)	8.00%
HarborOne Bank
Common equity Tier 1 to risk-weighted assets [Abstract]
Actual, Capital amount	$ 228,228	$ 177,809
Actual, Ratio (as a percent)	12.60%	10.80%
Minimum Capital Requirement	$ 81,650	$ 73,809
Minimum Capital Requirement (as a percent)	4.50%	4.50%
Minimum Required To Be Well Capitalized	$ 117,940	$ 106,613
Minimum Required To Be Well Capitalized (as a percent)	6.50%	6.50%
Tier 1 capital to risk weighted assets
Actual, Capital amount	$ 228,228	$ 177,809
Actual, Ratio (as a percent)	12.60%	10.80%
Minimum Capital Requirement	$ 108,867	$ 98,412
Minimum Capital Requirement (as a percent)	6.00%	6.00%
Minimum Required To Be Well Capitalized	$ 145,156	$ 131,216
Minimum Required To Be Well Capitalized (as a percent)	8.00%	8.00%
Total capital to risk-weighted assets
Actual, Capital amount	$ 242,667	$ 191,509
Actual, Ratio (as a percent)	13.40%	11.70%
Minimum Capital Requirement	$ 145,156	$ 131,216
Minimum Capital Requirement (as a percent)	8.00%	8.00%
Minimum Required To Be Well Capitalized	$ 181,445	$ 164,020
Minimum Required To Be Well Capitalized (as a percent)	10.00%	10.00%
Tier 1 capital to average assets
Actual, Capital amount	$ 228,228	$ 177,809
Actual, Ratio (as a percent)	10.30%	8.30%
Minimum Capital Requirement	$ 177,916	$ 171,330
Minimum Capital Requirement (as a percent)	8.00%	8.00%
Minimum Required To Be Well Capitalized	$ 177,916	$ 171,330
Minimum Required To Be Well Capitalized (as a percent)	8.00%	8.00%

COMPREHENSIVE INCOME (LOSS) (De

COMPREHENSIVE INCOME (LOSS) (Details) - USD ($) $ in Thousands	Jun. 30, 2016	Dec. 31, 2015
Components of AOCI
Accumulated other comprehensive income (loss)	$ 1,011	$ (592)
Securities available for sale
Components of AOCI
AOCI prior to tax impact	2,564	212
Related tax effect	(893)	(73)
Accumulated other comprehensive income (loss)	1,671	139
Directors' retirement plan
Components of AOCI
AOCI prior to tax impact	(1,098)	(1,215)
Related tax effect	438	484
Accumulated other comprehensive income (loss)	$ (660)	$ (731)

COMPREHENSIVE INCOME (LOSS) - C

COMPREHENSIVE INCOME (LOSS) - Changes in AOCI (Details) - USD ($) $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2016	Dec. 31, 2015
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance, beginning of period	$ 190,688	$ 183,458
Balance, end of period	324,290	190,688
Accumulated Other Comprehensive Income (Loss)
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance, beginning of period	(592)	(417)
Other comprehensive income before reclassifications	2,635
Amounts reclassified from accumulated other comprehensive income	(166)	(592)
Net current period other comprehensive income	2,469
Related tax effect	(866)
Balance, end of period	1,011	(592)
Securities available for sale
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Other comprehensive income before reclassifications	2,635
Amounts reclassified from accumulated other comprehensive income	(283)	139
Net current period other comprehensive income	2,352
Related tax effect	(820)
Balance, end of period	1,671
Directors' retirement plan
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Amounts reclassified from accumulated other comprehensive income	117	$ (731)
Net current period other comprehensive income	117
Related tax effect	(46)
Balance, end of period	$ (660)

FAIR VALUE OF ASSETS AND LIAB61

FAIR VALUE OF ASSETS AND LIABILITIES - Derivatives (Details) - USD ($)	Jun. 30, 2016	Dec. 31, 2015
Loans Held for Sale
Mortgage loans held for sale, fair value	$ 99,697,000	$ 63,797,000
Mortgage loans held for sale, contractual principal outstanding	95,422,000	61,701,000
Fair value less unpaid principal	$ 4,275,000	$ 2,096,000
Derivative loan commitments
Assets and liabilities measured on recurring basis
Weighted average pull-through rate	82.00%	85.00%
90 Days or More
Assets and liabilities measured on recurring basis
Mortgage loans held for sale	$ 0	$ 0

FAIR VALUE OF ASSETS AND LIAB62

FAIR VALUE OF ASSETS AND LIABILITIES - Recurring basis (Details) - USD ($) $ in Thousands	Jun. 30, 2016	Dec. 31, 2015	Jun. 30, 2015
Assets
Securities available for sale	$ 121,957	$ 128,541
Mortgage loans held for sale	99,697	63,797
Mortgage servicing rights	12,688	12,958	$ 4,795
Recurring
Assets
Mortgage loans held for sale	99,697	63,797
Mortgage servicing rights	12,688	12,958
Total assets	242,949	208,183
Liabilities
Total liabilities	6,366	1,315
Recurring | Derivative loan commitments
Assets
Derivative assets	4,381	1,432
Recurring | Forward loan sale commitments
Assets
Derivative assets		229
Liabilities
Derivative liabilities	2,141	89
Recurring | Interest rate swaps
Assets
Derivative assets	4,225	1,226
Liabilities
Derivative liabilities	4,225	1,226
Recurring | U.S. government and government-sponsored enterprise obligations
Assets
Securities available for sale	10,043	4,967
Recurring | U.S. government-sponsored residential mortgage-backed securities
Assets
Securities available for sale	42,562	46,616
Recurring | U.S. government-sponsored collateralized mortgage obligations
Assets
Securities available for sale	44,953	46,470
Recurring | SBA asset-backed securities
Assets
Securities available for sale	24,400	30,488
Recurring | Level 2
Assets
Mortgage loans held for sale	99,697	63,797
Mortgage servicing rights	12,688	12,958
Total assets	238,568	206,522
Liabilities
Total liabilities	4,225	1,226
Recurring | Level 2 | Interest rate swaps
Assets
Derivative assets	4,225	1,226
Liabilities
Derivative liabilities	4,225	1,226
Recurring | Level 2 | U.S. government and government-sponsored enterprise obligations
Assets
Securities available for sale	10,043	4,967
Recurring | Level 2 | U.S. government-sponsored residential mortgage-backed securities
Assets
Securities available for sale	42,562	46,616
Recurring | Level 2 | U.S. government-sponsored collateralized mortgage obligations
Assets
Securities available for sale	44,953	46,470
Recurring | Level 2 | SBA asset-backed securities
Assets
Securities available for sale	24,400	30,488
Recurring | Level 3
Assets
Total assets	4,381	1,661
Liabilities
Total liabilities	2,141	89
Recurring | Level 3 | Derivative loan commitments
Assets
Derivative assets	4,381	1,432
Recurring | Level 3 | Forward loan sale commitments
Assets
Derivative assets		229
Liabilities
Derivative liabilities	$ 2,141	$ 89

FAIR VALUE OF ASSETS AND LIAB63

FAIR VALUE OF ASSETS AND LIABILITIES - Level 3 (Details) - Derivative and Forward Loan Sale Commitments, Net - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Changes in Level 3 assets
Balance beginning of period	$ 2,944	$ 155	$ 1,661	$ 67
Total gains (losses) included in net income	1,437	11	2,720	99
Balance as of period end	4,381	166	4,381	166
Change in unrealized (losses) gains relating to instruments held at period end	4,381	166	4,381	166
Changes in Level 3 liabilities
Balance beginning of period	(1,006)	(87)	(89)	(44)
Total gains (losses) included in net income	(1,135)	51	(2,052)	8
Balance as of period end	(2,141)	(36)	(2,141)	(36)
Change in unrealized (losses) gains relating to instruments held at period end	$ (1,135)	$ 51	$ (2,052)	$ 8

FAIR VALUE OF ASSETS AND LIAB64

FAIR VALUE OF ASSETS AND LIABILITIES - Impaired Loans (Details) - Non-recurring - USD ($)	3 Months Ended	6 Months Ended	12 Months Ended
	Jun. 30, 2016	Jun. 30, 2016	Dec. 31, 2015
Assets and liabilities measured on non-recurring basis
Fair value	$ 0	$ 0	$ 0
Total Losses	252,000	474,000	71,000
Impaired loans
Assets and liabilities measured on non-recurring basis
Total Losses	252,000	452,000	67,000
Other real estate owned and repossessed assets
Assets and liabilities measured on non-recurring basis
Total Losses		22,000	4,000
Level 3
Assets and liabilities measured on non-recurring basis
Fair value	5,194,000	5,194,000	6,335,000
Level 3 | Impaired loans
Assets and liabilities measured on non-recurring basis
Fair value	3,433,000	3,433,000	3,988,000
Level 3 | Other real estate owned and repossessed assets
Assets and liabilities measured on non-recurring basis
Fair value	$ 1,761,000	$ 1,761,000	$ 2,347,000

FAIR VALUE OF ASSETS AND LIAB65

FAIR VALUE OF ASSETS AND LIABILITIES - Balance Sheet Grouping (Details) - USD ($) $ in Thousands	Jun. 30, 2016	Dec. 31, 2015	Jun. 30, 2015
Financial assets:
Securities available for sale	$ 121,957	$ 128,541
Securities held to maturity	53,084	65,206
Mortgage loans held for sale	99,697	63,797
Mortgage servicing rights	12,688	12,958	$ 4,795
Carrying Amount
Financial assets:
Cash and cash equivalents	30,138	40,652
Securities available for sale	121,957	128,541
Securities held to maturity	50,504	63,579
Federal Home Loan Bank stock	13,078	18,735
Mortgage loans held for sale	99,697	63,797
Loans, net	1,820,900	1,729,388
Retirement plan annuities	11,822	11,608
Mortgage servicing rights	12,688	12,958
Accrued interest receivable	5,044	4,920
Financial liabilities:
Deposits	1,710,234	1,691,212
Borrowed funds	195,096	249,598
Mortgagors' escrow accounts	4,273	4,486
Accrued interest payable	469	546
Carrying Amount | Derivative loan commitments
Derivative commitments/agreements:
Assets	4,381	1,432
Carrying Amount | Interest rate swaps
Derivative commitments/agreements:
Assets	4,225
Liabilities	4,225	1,226
Carrying Amount | Forward loan sale commitments
Derivative commitments/agreements:
Assets		229
Liabilities	2,141	89
Fair Value
Financial assets:
Cash and cash equivalents	30,138	40,652
Securities available for sale	121,957	128,541
Securities held to maturity	53,084	65,206
Federal Home Loan Bank stock	13,078	18,735
Mortgage loans held for sale	99,697	63,797
Loans, net	1,857,962	1,754,997
Retirement plan annuities	11,822	11,608
Mortgage servicing rights	12,688	12,958
Accrued interest receivable	5,044	4,920
Financial liabilities:
Deposits	1,702,647	1,695,731
Borrowed funds	199,519	251,812
Mortgagors' escrow accounts	4,273	4,486
Accrued interest payable	469	546
Fair Value | Derivative loan commitments
Derivative commitments/agreements:
Assets	4,381	1,432
Fair Value | Interest rate swaps
Derivative commitments/agreements:
Assets	4,225
Liabilities	4,225	1,226
Fair Value | Forward loan sale commitments
Derivative commitments/agreements:
Assets		229
Liabilities	2,141	89
Fair Value | Level 1
Financial assets:
Cash and cash equivalents	30,138	40,652
Fair Value | Level 2
Financial assets:
Securities available for sale	121,957	128,541
Securities held to maturity	53,084	65,206
Mortgage loans held for sale	99,697	63,797
Mortgage servicing rights	12,688	12,958
Accrued interest receivable	5,044	4,920
Financial liabilities:
Borrowed funds	199,519	251,812
Accrued interest payable	469	546
Fair Value | Level 2 | Interest rate swaps
Derivative commitments/agreements:
Assets	4,225
Liabilities	4,225	1,226
Fair Value | Level 3
Financial assets:
Federal Home Loan Bank stock	13,078	18,735
Loans, net	1,857,962	1,754,997
Retirement plan annuities	11,822	11,608
Financial liabilities:
Deposits	1,702,647	1,695,731
Mortgagors' escrow accounts	4,273	4,486
Fair Value | Level 3 | Derivative loan commitments
Derivative commitments/agreements:
Assets	4,381	1,432
Fair Value | Level 3 | Forward loan sale commitments
Derivative commitments/agreements:
Assets		229
Liabilities	$ 2,141	$ 89

SEGMENT REPORTING (Details)

SEGMENT REPORTING (Details) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016USD ($)	Jun. 30, 2015USD ($)	Jun. 30, 2016USD ($)segment	Jun. 30, 2015USD ($)	Dec. 31, 2015USD ($)
Segment Reporting Information [Line Items]
Number of reportable segments | segment			2
Net interest and dividend income	$ 14,652	$ 12,432	$ 28,538	$ 24,449
Provision for loan losses	801	667	1,006	917
Net interest income, after provision for loan losses	13,851	11,765	27,532	23,532
Mortgage banking income:
Changes in mortgage servicing rights fair value	(2,163)	(165)	(4,451)	(340)
Other	13,770	688	23,091	1,266
Total mortgage banking income	11,607	523	18,640	926
Other noninterest income (loss)	4,281		8,310
Total noninterest income	15,888	4,188	26,950	8,450
Noninterest expense	31,169	14,603	55,726	29,467
Income (loss) before income taxes	(1,430)	1,350	(1,244)	2,515
Provision (benefit) for income taxes	(749)	290	(687)	534
Net income (loss)	(681)	1,060	(557)	1,981
Total assets	2,266,758		2,266,758		$ 2,163,142
Goodwill	13,365		13,365
Operating Segments | Harbor One Bank Segment
Segment Reporting Information [Line Items]
Net interest and dividend income	14,230	12,432	27,776	24,449
Provision for loan losses	801	667	1,006	917
Net interest income, after provision for loan losses	13,429	11,765	26,770	23,532
Mortgage banking income:
Changes in mortgage servicing rights fair value	(787)	(165)	(1,382)	(339)
Other	1,147	688	2,155	1,265
Total mortgage banking income	360	523	773	926
Other noninterest income (loss)	4,274	3,665	8,309	7,524
Total noninterest income	4,634	4,188	9,082	8,450
Noninterest expense	16,637	14,603	33,579	29,467
Income (loss) before income taxes	1,426	1,350	2,273	2,515
Provision (benefit) for income taxes	391	290	717	534
Net income (loss)	1,035	1,060	1,556	1,981
Total assets	2,260,363	2,165,172	2,260,363	2,165,172
Goodwill	3,186	$ 3,186	3,186	$ 3,186
Operating Segments | Merrimack Mortgage Segment
Segment Reporting Information [Line Items]
Net interest and dividend income	422		762
Net interest income, after provision for loan losses	422		762
Mortgage banking income:
Changes in mortgage servicing rights fair value	(1,376)		(3,069)
Other	12,623		20,936
Total mortgage banking income	11,247		17,867
Other noninterest income (loss)	7		1
Total noninterest income	11,254		17,868
Noninterest expense	9,712		17,327
Income (loss) before income taxes	1,964		1,303
Provision (benefit) for income taxes	785		521
Net income (loss)	1,179		782
Total assets	128,331		128,331
Goodwill	10,179		10,179
Operating Segments | HarborOne Bancorp Segment
Mortgage banking income:
Noninterest expense	4,820		4,820
Income (loss) before income taxes	(4,820)		(4,820)
Provision (benefit) for income taxes	(1,925)		(1,925)
Net income (loss)	(2,895)		(2,895)
Total assets	323,067		323,067
Eliminations
Mortgage banking income:
Total assets	$ (445,003)		$ (445,003)