HarborOne Bancorp (HONE) 10-Q4 Nov 212021 Q3 Quarterly reportFinancial data

Company Profile

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
Document and Entity Information - shares	Sep. 30, 2021	Nov. 01, 2021
Document and Entity Information
Document Type	10-Q
Document Quarterly Report	true
Document Transition Report	false
Document Period End Date	Sep. 30, 2021
Entity File Number	001-38955
Entity Registrant Name	HarborOne Bancorp, Inc.
Entity Incorporation, State or Country Code	MA
Entity Tax Identification Number	81-1607465
Entity Address, Address Line One	770 Oak Street
Entity Address, City or Town	Brockton
Entity Address, State or Province	MA
Entity Address, Postal Zip Code	02301
City Area Code	508
Local Phone Number	895-1000
Title of 12(b) Security	Common Stock, $0.01 par value
Trading Symbol	HONE
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	true
Entity Ex Transition Period	false
Entity Shell Company	false
Entity Central Index Key	0001769617
Current Fiscal Year End Date	--12-31
Entity Common Stock, Shares Outstanding		53,228,410
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	Q3
Amendment Flag	false

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Assets
Cash and due from banks	$ 42,589	$ 31,777
Short-term investments	277,050	174,093
Total cash and cash equivalents	319,639	205,870
Securities available for sale, at fair value	390,552	276,498
Federal Home Loan Bank stock, at cost	6,828	8,738
Assets held for sale	881
Loans held for sale, at fair value	77,052	208,612
Loans	3,457,744	3,494,642
Less: Allowance for loan losses	(47,988)	(55,395)
Net loans	3,409,756	3,439,247
Accrued interest receivable	10,880	11,874
Other real estate owned and repossessed assets	28	595
Mortgage servicing rights, at fair value	36,540	24,833
Property and equipment, net	50,480	49,580
Retirement plan annuities	14,065	13,747
Bank-owned life insurance	89,466	87,950
Goodwill	69,802	69,802
Intangible assets	3,399	4,370
Other assets	87,726	81,899
Total assets	4,567,094	4,483,615
Deposits:
Demand deposit accounts	756,917	689,672
NOW accounts	300,577	218,584
Regular savings and club accounts	1,144,595	998,994
Money market deposit accounts	832,441	866,661
Term certificate accounts	659,850	732,298
Total deposits	3,694,380	3,506,209
Short-term borrowed funds	0	35,000
Long-term borrowed funds	55,720	114,097
Subordinated debt	34,128	34,033
Mortgagors' escrow accounts	8,412	7,736
Accrued interest payable	567	1,262
Other liabilities and accrued expenses	93,855	88,964
Total liabilities	3,887,062	3,787,301
Commitments and contingencies (Notes 9 and 10)
Common stock, $0.01 par value; 150,000,000 shares authorized; 59,083,187 and 58,834,970 shares issued; 53,232,110 and 57,205,458 shares outstanding at September 30, 2021 and December 31, 2020, respectively	585	584
Additional paid-in capital	468,526	464,176
Retained earnings	315,683	277,312
Treasury stock, at cost, 5,851,077 and 1,629,512 shares at September 30, 2021 and December 31, 2020, respectively	(73,723)	(16,644)
Accumulated other comprehensive income	(1,118)	2,185
Unearned compensation - ESOP	(29,921)	(31,299)
Total stockholders' equity	680,032	696,314
Total liabilities and stockholders' equity	$ 4,567,094	$ 4,483,615

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - $ / shares	Sep. 30, 2021	Dec. 31, 2020
Consolidated Balance Sheets
Common Stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized	150,000,000	150,000,000
Common Stock, shares issued	59,083,187	58,834,970
Common stock, shares outstanding	53,232,110	57,205,458
Treasury, shares	5,851,077	1,629,512

Consolidated Statements of Inco

Consolidated Statements of Income - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
Consolidated Statements of Income - USD ($) $ in Thousands	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Interest and dividend income:
Interest and fees on loans	$ 33,680	$ 34,496	$ 101,646	$ 102,491
Interest on loans held for sale	665	1,060	2,841	2,625
Interest on taxable securities	1,293	1,312	2,671	4,446
Interest on non-taxable securities		5		103
Other interest and dividend income	170	175	384	1,173
Total interest and dividend income	35,808	37,048	107,542	110,838
Interest expense:
Interest on deposits	2,050	4,520	7,072	19,018
Interest on FHLB borrowings	431	835	1,514	2,933
Interest on subordinated debentures	524	524	1,571	1,571
Total interest expense	3,005	5,879	10,157	23,522
Net interest and dividend income	32,803	31,169	97,385	87,316
(Credit) provision for loan losses	(1,627)	13,454	(5,822)	27,207
Net interest and dividend income, after provision (credit) for loan losses	34,430	17,715	103,207	60,109
Mortgage banking income:
Gain on sale of mortgage loans	12,756	34,055	51,820	77,195
Changes in mortgage servicing rights fair value	(992)	(193)	(135)	(5,691)
Other	3,882	4,258	12,472	10,650
Total mortgage banking income	15,646	38,120	64,157	82,154
Deposit account fees	4,658	3,451	13,056	10,351
Income on retirement plan annuities	108	104	318	308
Gain on sale and call of securities, net	241		241	2,533
Bank-owned life insurance income	515	560	1,516	1,665
Other income	842	2,203	2,234	4,642
Total noninterest income	22,010	44,438	81,522	101,653
Noninterest expense:
Compensation and benefits	24,760	29,839	77,360	78,493
Occupancy and equipment	4,765	4,581	14,723	13,296
Data processing	2,205	2,119	6,910	6,576
Loan expenses	1,323	3,166	5,008	7,121
Marketing	880	817	2,524	2,750
Deposit expenses	431	475	1,209	1,435
Postage and printing	396	455	1,215	1,386
Professional fees	1,362	1,458	4,432	4,204
Prepayment penalties on Federal Home Loan Bank advances	1,095		1,095
Foreclosed and repossessed assets	(308)	27	(332)	165
Deposit insurance	341	310	993	860
Other expenses	2,024	2,452	5,537	8,350
Total noninterest expense	39,274	45,699	120,674	124,636
Income before income taxes	17,166	16,454	64,055	37,126
Income tax provision	4,907	4,561	18,128	9,934
Net income	$ 12,259	$ 11,893	$ 45,927	$ 27,192
Earnings per common share:
Basic	$ 0.25	$ 0.22	$ 0.89	$ 0.50
Diluted	$ 0.24	$ 0.22	$ 0.88	$ 0.50
Weighted average shares outstanding:
Basic	49,801,123	54,465,339	51,362,252	54,436,090
Diluted	50,663,415	54,465,339	52,094,749	54,436,090

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Consolidated Statements of Comprehensive Income
Net income	$ 12,259	$ 11,893	$ 45,927	$ 27,192
Unrealized gain/loss on cash flow hedge:
Unrealized holding gains (losses)	22	32	1,392	(1,581)
Reclassification adjustment for net losses (gains) included in net income	140	82	373	(67)
Net change in unrealized gains (losses) on derivatives in cash flow hedging instruments	162	114	1,765	(1,648)
Related tax effect	(46)	(32)	(494)	461
Net-of-tax amount	116	82	1,271	(1,187)
Unrealized gain/loss on securities available for sale:
Unrealized holding (losses) gains	(2,406)	(1,335)	(5,626)	4,212
Reclassification of unrealized gain on securities transferred to available for sale				522
Reclassification adjustment for net realized gains	(241)		(241)	(2,533)
Net unrealized (losses) gains	(2,647)	(1,335)	(5,867)	2,201
Related tax effect	584	132	1,293	(718)
Net-of-tax amount	(2,063)	(1,203)	(4,574)	1,483
Total other comprehensive (loss) income	(1,947)	(1,121)	(3,303)	296
Comprehensive income	$ 10,312	$ 10,772	$ 42,624	$ 27,488

Consolidated Statements of Chan

Consolidated Statements of Changes in Stockholders' Equity - USD ($) $ in Thousands	Common Stock	Additional Paid-in Capital	Retained Earnings	Treasury Stock, at Cost	Accumulated Other Comprehensive Income (Loss)	Unearned Compensation - ESOP	Total
Balance at beginning of period at Dec. 31, 2019	$ 584	$ 460,232	$ 237,356	$ (721)	$ 1,480	$ (33,137)	$ 665,794
Balance, beginning of period (in shares) at Dec. 31, 2019	58,418,021
Comprehensive income (loss)			27,192		296		27,488
Dividends declared per share			(3,244)				(3,244)
ESOP shares committed to be released		156				1,378	1,534
Restricted stock awards forfeited (in shares)	(8,679)
Share-based compensation expense		3,143					3,143
Treasury stock purchased				(612)			(612)
Treasury stock purchased (in shares)	(66,878)
Balance at end of period at Sep. 30, 2020	$ 584	463,531	261,304	(1,333)	1,776	(31,759)	694,103
Balance, end of period (in shares) at Sep. 30, 2020	58,342,464
Balance at beginning of period at Jun. 30, 2020	$ 584	462,881	251,032	(721)	2,897	(32,218)	684,455
Balance, beginning of period (in shares) at Jun. 30, 2020	58,418,021
Comprehensive income (loss)			11,893		(1,121)		10,772
Dividends declared per share			(1,621)				(1,621)
ESOP shares committed to be released		33				459	492
Restricted stock awards forfeited (in shares)	(8,679)
Share-based compensation expense		617					617
Treasury stock purchased				(612)			(612)
Treasury stock purchased (in shares)	(66,878)
Balance at end of period at Sep. 30, 2020	$ 584	463,531	261,304	(1,333)	1,776	(31,759)	694,103
Balance, end of period (in shares) at Sep. 30, 2020	58,342,464
Balance at beginning of period at Dec. 31, 2020	$ 584	464,176	277,312	(16,644)	2,185	(31,299)	$ 696,314
Balance, beginning of period (in shares) at Dec. 31, 2020	57,205,458						57,205,458
Comprehensive income (loss)			45,927		(3,303)		$ 42,624
Dividends declared per share			(7,556)				(7,556)
ESOP shares committed to be released		955				1,378	2,333
Restricted stock awards granted (in shares)	185,377
Share-based compensation expense		2,753					2,753
Stock option exercised	$ 1	642					643
Stock option exercised (in shares)	62,840
Treasury stock purchased				(57,079)			(57,079)
Treasury stock purchased (in shares)	(4,221,565)
Balance at end of period at Sep. 30, 2021	$ 585	468,526	315,683	(73,723)	(1,118)	(29,921)	$ 680,032
Balance, end of period (in shares) at Sep. 30, 2021	53,232,110						53,232,110
Balance at beginning of period at Jun. 30, 2021	$ 585	467,194	305,831	(38,588)	829	(30,380)	$ 705,471
Balance, beginning of period (in shares) at Jun. 30, 2021	55,735,623
Comprehensive income (loss)			12,259		(1,947)		10,312
Dividends declared per share			(2,407)				(2,407)
ESOP shares committed to be released		340				459	799
Restricted stock awards forfeited (in shares)	(3,000)
Share-based compensation expense		992					992
Treasury stock purchased				(35,135)			(35,135)
Treasury stock purchased (in shares)	(2,500,513)
Balance at end of period at Sep. 30, 2021	$ 585	$ 468,526	$ 315,683	$ (73,723)	$ (1,118)	$ (29,921)	$ 680,032
Balance, end of period (in shares) at Sep. 30, 2021	53,232,110						53,232,110

Consolidated Statements of Ch_2

Consolidated Statements of Changes in Stockholders' Equity (Parenthetical) - $ / shares	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Consolidated Statements of Changes in Stockholders' Equity
Dividends declared per share	$ 0.05	$ 0.03	$ 0.15	$ 0.06
ESOP shares committed to be released (in shares)	57,680	57,680	173,042	173,042

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020
Cash flows from operating activities:
Net income	$ 45,927	$ 27,192
Adjustments to reconcile net income to net cash used by operating activities:
(Credit) provision for loan losses	(5,822)	27,207
Net amortization of securities premiums/discounts	3,098	1,371
Proceeds from sale of loans	1,826,818	1,715,878
Loans originated for sale	(1,625,647)	(1,712,957)
Net (accretion) amortization of net deferred loan costs/fees and premiums	(1,881)	984
Depreciation and amortization of premises and equipment	3,406	2,997
Change in mortgage servicing rights fair value	135	5,691
Mortgage servicing rights capitalized	(11,842)	(8,700)
Accretion of fair value adjustment on loans and deposits, net	(2,817)	(2,848)
Amortization of other intangible assets	971	1,341
Amortization of subordinated debt issuance costs	95	95
Gain on sale and call of securities, net	(241)	(2,533)
Net gains on mortgage loan sales, including fair value adjustments	(69,611)	(82,741)
Bank-owned life insurance income	(1,516)	(1,665)
Income on retirement plan annuities	(318)	(308)
Disposal of asset held for sale		8,536
Net loss on disposal of premises and equipment		101
Net (gain) loss on sale and write-down of other real estate owned and repossessed assets	(215)	57
ESOP expense	2,333	1,534
Share-based compensation expense	2,753	3,143
Net change in:
Increase in operating lease right-of-use assets	(2,053)
Increase in operating lease liabilities	2,436
Change in other assets	21,567	(39,116)
Change in other liabilities	(20,360)	30,940
Net cash provided (used) by operating activities	167,216	(23,801)
Activity in securities available for sale:
Maturities, prepayments and calls	124,307	69,870
Purchases	(286,406)	(153,747)
Sales	39,321	67,586
Activity in securities held to maturity:
Maturities, prepayment and calls		432
Sales		4,759
Net redemption of FHLB stock	1,910	5,490
Participation-in loan purchases	(30,742)	(21,994)
Net loan payments (originations)	70,452	(322,973)
Proceeds from sale of other real estate owned and repossessed assets	1,455	855
Additions to property and equipment	(5,187)	(4,546)
Net cash used by investing activities	(84,890)	(354,268)
Cash flows from financing activities:
Net increase in deposits	187,799	422,436
Net change in short-term borrowed funds	(35,000)	(88,000)
Proceeds from other borrowed funds and subordinated debt	3,400	40,000
Repayment of other borrowed funds	(61,777)	(70,026)
Net change in mortgagors' escrow accounts	676	1,926
Proceeds from exercise of stock options	643
Treasury stock purchased	(57,079)	(612)
Dividends paid	(7,219)	(1,753)
Net cash provided by financing activities	31,443	303,971
Net change in cash and cash equivalents	113,769	(74,098)
Cash and cash equivalents at beginning of period	205,870	211,616
Cash and cash equivalents at end of period	319,639	137,518
Supplemental cash flow information:
Interest paid on deposits	7,079	19,282
Interest paid on borrowed funds	3,728	5,146
Income taxes paid, net	18,715	13,040
Transfer of loans to other real estate owned and repossessed assets	673	1,093
Transfer of securities held to maturity to available for sale, fair value		22,051
Transfer of asset to assets held for sale	881
Dividends declared	7,556	$ 3,244
Supplemental disclosure related to adoption of ASU 2016-02, detailed in Note 1:
ROU asset	23,189
Operating lease liabilities	$ 24,370

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	9 Months Ended
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	Sep. 30, 2021
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 year ended December 31, 2020 and 2019 and notes thereto included in the Company’s Annual Report on Form 10-K. The unaudited interim Consolidated Financial Statements include the accounts of the Company; the Company’s subsidiaries, Legion Parkway Company LLC (a security corporation) and HarborOne Bank (the “Bank”); and the Bank’s wholly-owned subsidiaries, which consist of HarborOne Mortgage, LLC (“HarborOne Mortgage”), a passive investment corporation, and two security corporations. The passive investment corporation maintains and manages certain assets of the Bank. The security corporations were established for the purpose of buying, holding and selling securities on their own behalf. All significant intercompany balances and transactions have been eliminated in consolidation. Certain prior year amounts have been reclassified to conform to the current year financial statement presentation. These changes and reclassifications did not impact previously reported net income or comprehensive income. Nature of Operations The Company provides a variety of financial services to individuals and businesses through its 27 full-service branches in Massachusetts and Rhode Island, and commercial lending offices in each of Boston, Massachusetts and Providence, Rhode Island. HarborOne Mortgage maintains more than 30 offices in Massachusetts, Rhode Island, New Hampshire, and Maine and is licensed to lend in six 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, home equity, and consumer loans. The Company also originates, sells and services residential mortgage loans through HarborOne Mortgage. Risks and Uncertainties ● Net interest income could be reduced. In accordance with regulatory guidance, the Company worked with borrowers impacted by the COVID-19 pandemic to defer payments. While interest will continue to be recognized in accordance with GAAP, should eventual credit losses on these deferments emerge, interest income would be negatively impacted. At September 30, 2021, $7.9 million in loans were in an active deferral period and $1.5 million in loans with an expired deferral period were delinquent more than 30 days. ● Continued uncertainty regarding the severity and duration of the COVID-19 pandemic and the related economic effects on credit quality could continue to affect the accounting for loan losses. Although credit quality has not been a severely impacted so far, it is possible that asset quality could worsen, and loan charge-offs could increase as government aid expires or if new variants result in renewed business restrictions. The Bank participated in the U.S. Small Business Administration’s (“SBA”) Paycheck Protection Program (“PPP”) providing loans to small businesses negatively impacted by the COVID-19 pandemic. PPP loans are fully guaranteed by the U.S. government and continue to be forgiven. As of September 30, 2021, PPP loans amounted to $54.3 million and there was $2.1 million of deferred processing fee income. We expect to complete the forgiveness process on most of the remaining PPP loans by year end. ● Noninterest income could be reduced. Uncertainty regarding the severity and duration of the COVID-19 pandemic could cause further volatility in the financial markets. The COVID-19 pandemic and the measures taken to control its spread may disrupt the mortgage loan origination process. Mortgage banking revenues are dependent on mortgage origination volume and are sensitive to interest rates and the condition of housing markets. ● Valuation and fair value measurement challenges may occur. Changes in the COVID-19 pandemic could cause a decline in the Company’s stock price or other triggering events could occur that would cause management to perform a goodwill impairment test that may result in an impairment charge being recorded to earnings for that period. Summary of Significant Accounting Policies and Recently Adopted Accounting Standards Updates (“ASU”) 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. The Company’s emerging growth company status is scheduled to end December 31, 2021 unless a triggering event occurs sooner. Significant accounting policies in effect and disclosed within the Company’s most recent audited consolidated financial statements as of December 31, 2020 remain substantially unchanged with the exception of the accounting policy for leases as a result of adopting ASU 2016-02, Leases (Topic 842) and subsequent related updates (collectively ASU 2016-02) as described below. The Company adopted ASU 2016-02 on January 1, 2021, which requires lessees to recognize most leases on their balance sheet. Lessor accounting is largely unchanged. ASU 2016-02 requires both quantitative and qualitative disclosures regarding key information about lease arrangements from both lessees and lessors. The Company elected the effective date transition method utilizing the adoption date as the first date of application of the revised guidance. As a result, prior period amounts have not been restated. Upon adoption, the Company elected certain transitional practical expedients offered through the guidance, including the “package of practical expedients” whereby it did not reassess (i) whether any expired or existing contracts contain leases, (ii) the lease classification of any expired or existing leases, and (iii) initial direct costs for any existing leases, which resulted in the Company not recognizing a cumulative effect adjustment to retained earnings. Management evaluated the leasing contracts and activities and developed methodologies and processes to estimate and account for the right-of-use (“ROU”) assets and lease liabilities for building leases based on the present value of future lease payments. On January 1, 2021, the Company recorded right-of-use (“ROU”) assets, included in other assets, and lease liabilities, included in other liabilities, totaling $23.2 million and $24.4 million, respectively. The impact to capital ratios as a result of increased risk-weighted assets was immaterial. The adoption of this guidance did not result in a material change to lessee expense recognition. The Company is committed to rent premises and equipment used in business operations under non-cancelable operating leases and determines if an arrangement meets the definition of a lease upon inception. Leases that transfer substantially all of the benefits and risks of ownership to the Company are classified as finance leases, while all others are classified as operating leases. At lease commencement, a lease liability and ROU asset are calculated and recognized on both types of leases. The lease liability is equal to the present value of the future minimum lease payments. The ROU asset is equal to the lease liability, plus any initial direct costs and prepaid lease payments, less any lessor incentives received. Operating lease ROU assets are included in other assets and finance lease ROU assets are included in premises and equipment, net. The Company’s leases do not provide an implicit interest rate; therefore, the Company used the appropriate Federal Home Loan Bank (“FHLB”) term rate commensurate with the underlying lease terms to determine the present value of operating lease liabilities. The lease term used in the calculation includes any options to extend that the Company is reasonably certain to exercise, determined on a lease-by-lease basis. Leases with an initial term of 12 months or less are not recorded on the balance sheet; we recognize lease expense for these leases on a straight-line basis over the lease term. At September 30, 2021, the Company had no finance lease ROU assets or lease liabilities . For operating leases, total lease cost is comprised of lease expense, short-term lease cost, and variable lease cost. Lease expense includes future minimum lease payments, which are recognized on a straight-line basis over the lease term, as well as common area maintenance charges, real estate taxes, insurance and other expenses, where applicable, which are expensed as incurred. Total lease cost for operating leases is recorded in occupancy and equipment noninterest expense. See Note 11, Operating Lease Right-of-Use Assets and Liabilities, for further information. The Company also adopted the following ASU on January 1, 2021, which did not have a material impact on the Company’s Consolidated Financial Statements: ASU 2017-12 Derivatives and Hedging (Topic 815), Targeted Improvements to Accounting for Hedging Activities ASUs not yet Adopted ASU 2020-04 Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting These provisions apply to contract modifications that reference the London InterBank Offered Rate (“LIBOR”) or another reference rate expected to be discontinued because of reference rate reform. Qualifying modifications of loan agreements should be accounted for by prospectively adjusting the effective interest rate and the modification would be considered “minor” so that any existing unamortized deferred loan origination fees and costs would carry forward and continue to be amortized. Qualifying modifications of lease agreements should be accounted for as a continuation of the existing agreement with no reassessments of the lease classification and the discount rate or remeasurements of lease payments that otherwise would be required for modifications not accounted for as separate contracts. ASU 2020-04 also provides numerous optional expedients for hedge accounting. In January 2020, the FASB issued ASU 2021-01, Reference Rate Reform (Topic 848), which clarifies the scope of Topic 848 to include derivative instruments impacted by the discounting transition. ASU 2020-04 is effective as of March 12, 2020 through December 31, 2022, with adoption permitted as of any date from the beginning of an interim period that includes or is subsequent to March 12, 2020, or prospectively from a date within an interim period that includes or is subsequent to March 12, 2020, up to the date that the financial statements are available to be issued. Once elected, the amendments must be applied prospectively for all eligible contract modifications. is evaluating the effect that this ASU will have on the Company’s consolidated financial statements. ASU 2019-12 , Income Taxes (Topic 740) - Simplifying the Accounting for Income Taxes. The amendments in this ASU are intended to simplify the accounting for income taxes. ASU 2019-12 is effective for public companies for fiscal years beginning after December 15, 2020, with early adoption permitted. For all other entities the guidance is effective for fiscal years beginning after December 15, 2021. Certain provisions under ASU 2019-12 require prospective application, some require modified retrospective application through a cumulative-effect adjustment to retained earnings as of the beginning of the year of adoption, while other provisions require retrospective application to all periods presented in the consolidated financial statements upon adoption. The Company expects to adopt ASU 2019-12 on December 31, 2021 and it is not expected to have a material impact on the Company’s consolidated financial statements. ASU 2016-13 Financial Instruments—Credit Losses (Topic 326)

DEBT SECURITIES

DEBT SECURITIES	9 Months Ended
DEBT SECURITIES	Sep. 30, 2021
DEBT SECURITIES
DEBT SECURITIES	2. DEBT 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) September 30, 2021: Securities available for sale U.S. government and government-sponsored enterprise obligations $ 38,155 $ — $ 426 $ 37,729 U.S. government agency and government-sponsored residential mortgage-backed securities 345,737 1,355 2,983 344,109 U.S. government-sponsored collateralized mortgage obligations 4,543 152 — 4,695 SBA asset-backed securities 3,882 137 — 4,019 Total securities available for sale $ 392,317 $ 1,644 $ 3,409 $ 390,552 December 31, 2020: Securities available for sale U.S. government and government-sponsored enterprise obligations $ 5,002 $ 93 $ — $ 5,095 U.S. government agency and government-sponsored residential mortgage-backed securities 234,819 3,113 305 237,627 U.S. government-sponsored collateralized mortgage obligations 16,326 330 — 16,656 SBA asset-backed securities 16,249 871 — 17,120 Total securities available for sale $ 272,396 $ 4,407 $ 305 $ 276,498 In February 2020, with the intention to reduce credit risk in the investment portfolio and to support the Bank’s credit risk policy, the Bank executed the sale of six held-to-maturity investments. The securities had a total amortized cost of $4.5 million and a $357,000 gain on sale was recorded during the three months ended March 31, 2020. As a result, the remaining held-to-maturity securities, with an amortized cost of $21.5 million and an unrealized gain of approximately $522,000, were transferred to the available for sale category at a fair value of $22.1 million. Sixteen mortgage-backed securities with a combined fair value of $20.5 million are pledged as collateral for interest rate swap agreements as of September 30, 2021 (see Note 10). Twenty-six mortgage-backed securities with a combined fair value of $40.3 million were pledged as collateral for interest rate swap agreements as of December 31, 2020. The amortized cost and fair value of debt securities by contractual maturity at September 30, 2021 is as follows: Available for Sale Amortized Fair Cost Value (in thousands) After 1 year through 5 years $ — $ — After 5 years through 10 years 38,155 37,729 Over 10 years — — 38,155 37,729 U.S. government agency and government-sponsored residential mortgage-backed securities 345,737 344,109 U.S. government-sponsored collateralized mortgage obligations 4,543 4,695 SBA asset-backed securities 3,882 4,019 Total $ 392,317 $ 390,552 U.S. government-sponsored residential mortgage-backed securities, collateralized mortgage obligations and securities whose underlying assets are loans from the SBA have stated maturities of 6 months to 30 years ; however, it is expected that such securities will have shorter actual lives due to prepayments. U.S. government and government-sponsored enterprise obligations are callable at the discretion of the issuer. The U.S. government and government-sponsored enterprise obligations with a total fair value of $37.7 million have a final maturity of 10 years and a call feature of five months to two years . At September 30, 2021 there were no holdings of securities of any one issuer, other than the U.S. government and its agencies, in an amount greater than 10% of shareholder equity. The following table shows proceeds and gross realized gains and losses related to the sales and calls of securities for the periods indicated: Three Months Ended September 30, Nine Months Ended September 30, 2021 2020 2021 2020 (in thousands) Sales Proceeds $ 39,321 $ — $ 39,321 $ 72,333 Gross gains 241 — 241 2,521 Gross losses — — — — Calls Proceeds $ 5,000 $ 2,000 $ 5,000 $ 8,635 Gross gains — — — 12 Gross losses — — — — Information pertaining to securities with gross unrealized losses at September 30, 2021 and December 31, 2020 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) September 30, 2021: Securities available for sale U.S. government and government-sponsored enterprise obligations $ 426 $ 37,729 $ — $ — U.S. government agency and government-sponsored residential mortgage-backed securities 2,771 261,886 212 19,759 $ 3,197 $ 299,615 $ 212 $ 19,759 December 31, 2020: Securities available for sale U.S. government agency and government-sponsored residential mortgage-backed securities $ 283 $ 67,460 $ 22 $ 3,668 Management evaluates securities for other-than-temporary impairment (“OTTI”) at each reporting period, and more frequently when economic or market concerns warrant such evaluation. As of September 30, 2021, the Company’s security portfolio consisted of 118 debt securities, 63 of which were in an unrealized loss position. The unrealized losses are primarily related to the Company’s mortgage-backed securities and were issued by U.S. government-sponsored entities and agencies. Because the decline in fair value is attributable to changes in interest rates and illiquidity, and not credit quality, and because the Company does not have the intent to sell these securities and it is likely that it will not be required to sell the securities before their anticipated recovery, the Company does not consider these securities to be other-than-temporarily impaired at September 30, 2021.

LOANS HELD FOR SALE

LOANS HELD FOR SALE	9 Months Ended
LOANS HELD FOR SALE	Sep. 30, 2021
LOANS HELD FOR SALE
LOANS HELD FOR SALE	3. LOANS HELD FOR SALE The following table provides the fair value and contractual principal balance outstanding of loans held for sale accounted for under the fair value option: September 30, December 31, 2021 2020 (in thousands) Loans held for sale, fair value $ 77,052 $ 208,612 Loans held for sale, contractual principal outstanding 75,009 198,984 Fair value less unpaid principal balance $ 2,043 $ 9,628 The Company has elected the fair value option for mortgage loans held for sale to better match changes in fair value of the loans with changes in the fair value of the forward sale commitment contracts used to economically hedge them. Changes in fair value of mortgage loans held for sale accounted for under the fair value option election amounted to a decrease of $7.6 million in the nine months ended September 30, 2021 to $2.0 million, compared to an increase of $5.5 million in the nine months ended September 30, 2020. These amounts are offset in earnings by the changes in fair value of forward sale commitments. The changes in fair value are reported as a component of gain on sale of mortgage loans in the Unaudited Consolidated Statements of Income. Underwriting fees on mortgage loans held for sale are recognized when earned and included in other mortgage banking income. Underwriting fees amounted to $2.0 million and $7.0 million, respectively, for the three and nine months ended September 30, 2021 and $3.0 million and $7.5 million, respectively, for the respective prior year periods. At September 30, 2021 and December 31, 2020, there were no loans held for sale that were greater than 90 days past due.

LOANS

LOANS	9 Months Ended
LOANS	Sep. 30, 2021
LOANS
LOANS	4. LOANS A summary of the balances of loans follows: September 30, December 31, 2021 2020 (in thousands) Residential real estate: One- to four-family $ 993,725 $ 928,934 Second mortgages and equity lines of credit 135,147 145,672 Residential real estate construction 31,817 31,217 Total residential real estate loans 1,160,689 1,105,823 Commercial: Commercial real estate 1,573,284 1,551,265 Commercial construction 152,685 99,331 Commercial and industrial 414,814 464,393 Total commercial loans 2,140,783 2,114,989 Consumer loans: Auto 149,019 265,266 Personal 7,253 8,564 Total consumer loans 156,272 273,830 Total loans 3,457,744 3,494,642 Allowance for loan losses (47,988) (55,395) Loans, net $ 3,409,756 $ 3,439,247 As of September 30, 2021 and December 31, 2020, the commercial and industrial loans include $54.3 million and $126.5 million, respectively, of PPP loans and $2.1 million and $2.7 million, respectively, of deferred fees on the PPP loans. PPP loans are fully guaranteed by the U.S. government. The Company has transferred a portion of its originated commercial 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 September 30, 2021 and December 31, 2020, the Company was servicing commercial loans for participants in the aggregate amount of $297.0 million and $284.2 million, respectively. Acquired Loans The loans acquired in the merger with Coastway Bancorp, Inc. included $5.4 million in purchased credit impaired (“PCI”) loans. PCI loans were primarily residential real estate loans. The following table provides certain information pertaining to PCI loans: September 30, December 31, 2021 2020 (in thousands) Outstanding balance $ 3,701 $ 4,307 Carrying amount $ 3,485 $ 4,079 The following table summarizes activity in the accretable yield for PCI loans: Three Months Ended September 30, Nine Months Ended September 30, 2021 2020 2021 2020 (in thousands) Balance at beginning of period $ 136 $ 145 $ 141 $ 149 Additions — — — — Accretion (1) (3) (6) (7) Reclassification from nonaccretable difference — — — — Balance at end of period $ 135 $ 142 $ 135 $ 142 The following is the activity in the allowance for loan losses for the three and nine months ended September 30, 2021 and 2020: Residential Commercial Commercial Commercial Real Estate Real Estate Construction and Industrial Consumer Unallocated Total (in thousands) Balance at June 30, 2020 $ 5,857 $ 18,389 $ 3,215 $ 3,562 $ 2,204 $ 2,880 $ 36,107 Provision for loan losses 1,721 7,771 962 1,617 643 740 13,454 Charge-offs — (62) — (213) (140) — (415) Recoveries 22 — — — 55 — 77 Balance at September 30, 2020 $ 7,600 $ 26,098 $ 4,177 $ 4,966 $ 2,762 $ 3,620 $ 49,223 Balance at June 30, 2021 $ 5,434 $ 32,991 $ 1,937 $ 8,059 $ 853 $ 1,999 $ 51,273 Provision (credit) for loan losses (2,009) 2,059 615 (815) (478) (999) (1,627) Charge-offs — (381) — (1,277) (61) — (1,719) Recoveries 8 1 — 18 34 — 61 Balance at September 30, 2021 $ 3,433 $ 34,670 $ 2,552 $ 5,985 $ 348 $ 1,000 $ 47,988 Residential Commercial Commercial Commercial Real Estate Real Estate Construction and Industrial Consumer Unallocated Total (in thousands) Balance at December 31, 2019 $ 3,178 $ 12,875 $ 2,526 $ 2,977 $ 1,010 $ 1,494 $ 24,060 Provision for loan losses 4,270 14,458 1,651 2,560 2,142 2,126 27,207 Charge-offs (52) (1,236) — (790) (519) — (2,597) Recoveries 204 1 — 219 129 — 553 Balance at September 30, 2020 $ 7,600 $ 26,098 $ 4,177 $ 4,966 $ 2,762 $ 3,620 $ 49,223 Balance at December 31, 2020 $ 7,419 $ 34,765 $ 1,955 $ 5,311 $ 2,475 $ 3,470 $ 55,395 Provision (credit) for loan losses (4,214) 293 597 2,101 (2,129) (2,470) (5,822) Charge-offs — (393) — (1,463) (147) — (2,003) Recoveries 228 5 — 36 149 — 418 Balance at September 30, 2021 $ 3,433 $ 34,670 $ 2,552 $ 5,985 $ 348 $ 1,000 $ 47,988 Allocation of the allowance to loan segments at September 30, 2021 and December 31, 2020 follows: Residential Commercial Commercial Commercial Real Estate Real Estate Construction and Industrial Consumer Unallocated Total (in thousands) September 30, 2021: Loans: Impaired loans $ 26,971 $ 18,155 $ — $ 6,183 $ — $ 51,309 Non-impaired loans 1,133,718 1,555,129 152,685 408,631 156,272 3,406,435 Total loans $ 1,160,689 $ 1,573,284 $ 152,685 $ 414,814 $ 156,272 $ 3,457,744 Allowance for loan losses: Impaired loans $ 662 $ 6,969 $ — $ 1,340 $ — $ — $ 8,971 Non-impaired loans 2,771 27,701 2,552 4,645 348 1,000 39,017 Total allowance for loan losses $ 3,433 $ 34,670 $ 2,552 $ 5,985 $ 348 $ 1,000 $ 47,988 December 31, 2020: Loans: Impaired loans $ 24,384 $ 12,513 $ — $ 9,359 $ — $ 46,256 Non-impaired loans 1,081,439 1,538,752 99,331 455,034 273,830 3,448,386 Total loans $ 1,105,823 $ 1,551,265 $ 99,331 $ 464,393 $ 273,830 $ 3,494,642 Allowance for loan losses: Impaired loans $ 802 $ 1,845 $ — $ 31 $ — $ — $ 2,678 Non-impaired loans 6,617 32,920 1,955 5,280 2,475 3,470 52,717 Total allowance for loan losses $ 7,419 $ 34,765 $ 1,955 $ 5,311 $ 2,475 $ 3,470 $ 55,395 The following is a summary of past due and non-accrual loans at September 30, 2021 and December 31, 2020: 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) September 30, 2021 Residential real estate: One- to four-family $ 778 $ 1,646 $ 3,458 $ 5,882 $ 11,754 Second mortgages and equity lines of credit 203 203 263 669 437 Commercial real estate 8,843 — 338 9,181 18,000 Commercial construction — — — — — Commercial and industrial 37 3 3,683 3,723 6,183 Consumer: Auto 533 109 84 726 111 Personal 55 18 1 74 1 Total $ 10,449 $ 1,979 $ 7,827 $ 20,255 $ 36,486 December 31, 2020 Residential real estate: One- to four-family $ 12,148 $ 2,223 $ 6,418 $ 20,789 $ 11,611 Second mortgages and equity lines of credit 460 46 433 939 834 Residential real estate construction 471 — — 471 — Commercial real estate 416 — 3,369 3,785 12,486 Commercial construction — — — — — Commercial and industrial 444 191 1,243 1,878 8,606 Consumer: Auto 1,657 397 488 2,542 557 Personal 88 11 2 101 7 Total $ 15,684 $ 2,868 $ 11,953 $ 30,505 $ 34,101 At September 30, 2021 and December 31, 2020, there were no loans past due 90 days or more and still accruing. The following information pertains to impaired loans: September 30, 2021 December 31, 2020 Unpaid Unpaid Recorded Principal Related Recorded Principal Related Investment Balance Allowance Investment Balance Allowance (in thousands) Impaired loans without a specific reserve: Residential real estate $ 17,445 $ 18,922 $ — $ 12,284 $ 13,039 $ — Commercial real estate 493 495 — 3,552 4,741 — Commercial construction — — — — — — Commercial and industrial 1,463 3,591 — 9,243 11,604 — Total 19,401 23,008 — 25,079 29,384 — Impaired loans with a specific reserve: Residential real estate 9,526 10,324 662 12,100 12,355 802 Commercial real estate 17,662 24,888 6,969 8,961 8,961 1,845 Commercial construction — — — — — — Commercial and industrial 4,720 5,625 1,340 116 181 31 Total 31,908 40,837 8,971 21,177 21,497 2,678 Total impaired loans $ 51,309 $ 63,845 $ 8,971 $ 46,256 $ 50,881 $ 2,678 Three Months Ended September 30, 2021 2020 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 real estate $ 22,268 $ 279 $ 121 $ 26,542 $ 272 $ 270 Commercial real estate 12,455 60 60 4,287 — — Commercial construction — — — 10,971 — — Commercial and industrial 7,834 13 13 10,334 9 9 Total $ 42,557 $ 352 $ 194 $ 52,134 $ 281 $ 279 Nine Months Ended September 30, 2021 2020 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 real estate $ 23,973 $ 822 $ 280 $ 26,454 $ 847 $ 788 Commercial real estate 13,894 125 125 3,202 1 1 Commercial construction — — — 11,039 — — Commercial and industrial 7,802 149 149 7,863 16 16 Total $ 45,669 $ 1,096 $ 554 $ 48,558 $ 864 $ 805 Interest income recognized and interest income recognized on a cash basis in the tables above represent interest income for the three and nine months ended September 30, 2021 and 2020, not for the time period designated as impaired. No additional funds are committed to be advanced in connection with impaired loans. There were no material troubled debt restructuring (“TDR”) loan modifications for the three months ended September 30, 2021 and 2020. The recorded investment in TDRs was $13.2 million and $15.1 million at September 30, 2021 and December 31, 2020, respectively. Commercial TDRs totaled $2.3 million and $2.5 million at September 30, 2021 and December 31, 2020, respectively. The remainder of the TDRs outstanding at the end of these periods were residential loans. Non-accrual TDRs totaled $3.0 million and $3.6 million at September 30, 2021 and December 31, 2020, respectively. Of these loans, $2.1 million and $2.5 million were non-accrual commercial TDRs at September 30, 2021 and December 31, 2020, respectively. 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. During the three and nine months ended September 30, 2021 and 2020, there were no payment defaults on TDRs. 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 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 on a risk adjusted basis, the ratings on all commercial real estate, construction and commercial loans. Semi-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 September 30, 2021 and December 31, 2020: September 30, 2021 December 31, 2020 Commercial Commercial Commercial Commercial Commercial Commercial Real Estate Construction and Industrial Real Estate Construction and Industrial (in thousands) Loans rated 1 - 6 $ 1,530,051 $ 152,685 $ 408,277 $ 1,524,105 $ 99,331 $ 452,665 Loans rated 7 25,078 — 354 14,674 — 3,122 Loans rated 8 18,155 — 438 9,455 — 7,080 Loans rated 9 — — 5,745 3,031 — 1,526 Loans rated 10 — — — — — — $ 1,573,284 $ 152,685 $ 414,814 $ 1,551,265 $ 99,331 $ 464,393

MORTGAGE LOAN SERVICING

MORTGAGE LOAN SERVICING	9 Months Ended
MORTGAGE LOAN SERVICING	Sep. 30, 2021
MORTGAGE LOAN SERVICING
MORTGAGE LOAN SERVICING	5. 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 primarily result from shifts in mortgage interest rates. The unpaid principal balance of mortgage loans serviced for others was $3.63 billion and $3.05 billion as of September 30, 2021 and December 31, 2020, respectively. The Company accounts 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, and default rates September 30, December 31, 2021 2020 Prepayment speed 10.20 % 14.30 % Discount rate 9.21 9.23 Default rate 1.78 2.27 The following summarizes changes to MSRs for the three and nine months ended September 30, 2021 and 2020: Three Months Ended September 30, Nine Months Ended September 30, 2021 2020 2021 2020 (in thousands) Balance, beginning of period $ 35,955 $ 16,127 $ 24,833 $ 17,150 Additions 1,577 4,225 11,842 8,700 Changes in fair value due to: Reductions from loans paid off during the period (1,613) (1,083) (4,713) (2,773) Changes in valuation inputs or assumptions 621 890 4,578 (2,918) Balance, end of period $ 36,540 $ 20,159 $ 36,540 $ 20,159 Contractually specified servicing fees, net of subservicing expense, included in other mortgage banking income amounted to $2.0 million and $5.5 million for the three and nine months ended September 30, 2021, respectively, and $1.3 million and $3.3 million for the three and nine months ended September 30, 2020, respectively.

GOODWILL AND INTANGIBLE ASSETS

GOODWILL AND INTANGIBLE ASSETS	9 Months Ended
GOODWILL AND INTANGIBLE ASSETS	Sep. 30, 2021
GOODWILL AND INTANGIBLE ASSETS
GOODWILL AND INTANGIBLE ASSETS	6. GOODWILL AND INTANGIBLE ASSETS As of September 30, 2021, the Company had $69.8 million in goodwill, of which $59.0 million was allocated to the Bank reporting unit and $10.8 million was allocated to the HarborOne Mortgage reporting unit. The Company typically performs its goodwill impairment test during the fourth quarter of the year, unless certain indicators suggest earlier testing to be warranted. Other intangible assets were $3.4 million and are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of the assets may not be recoverable. The Company determined that there was no triggering event that warranted an interim impairment test at September 30, 2021.

DEPOSITS

DEPOSITS	9 Months Ended
DEPOSITS	Sep. 30, 2021
DEPOSITS
DEPOSITS	7. DEPOSITS A summary of deposit balances, by type, is as follows: September 30, December 31, 2021 2020 (in thousands) NOW and demand deposit accounts $ 1,057,494 $ 908,256 Regular savings and club accounts 1,144,595 998,994 Money market deposit accounts 832,441 866,661 Total non-certificate accounts 3,034,530 2,773,911 Term certificate accounts greater than $250,000 116,427 135,190 Term certificate accounts less than or equal to $250,000 443,423 497,108 Brokered deposits 100,000 100,000 Total certificate accounts 659,850 732,298 Total deposits $ 3,694,380 $ 3,506,209 The Company has established a relationship to participate in a reciprocal deposit program with other financial institutions. The reciprocal deposit program provides access to FDIC-insured deposit products in aggregate amounts exceeding the current limits for depositors. At September 30, 2021 and December 31, 2020, total reciprocal deposits were $42.3 million and $104.9 million, respectively, consisting primarily of money market accounts. A summary of certificate accounts by maturity at September 30, 2021 is as follows: Weighted Average Amount Rate (dollars in thousands) Within 1 year $ 571,378 0.51 % Over 1 year to 2 years 54,430 0.78 Over 2 years to 3 years 8,381 1.05 Over 3 years to 4 years 23,100 0.96 Over 4 years to 5 years 2,823 0.74 Total certificate deposits 660,112 0.56 % Less unaccreted acquisition discount (262) Total certificate deposits, net $ 659,850

BORROWED FUNDS

BORROWED FUNDS	9 Months Ended
BORROWED FUNDS	Sep. 30, 2021
BORROWED FUNDS
BORROWED FUNDS	8. Borrowed funds at September 30, 2021 and December 31, 2020 consist of Federal Home Loan Bank (“FHLB”) advances. Short-term advances were $35.0 million with a weighted average rate of 0.42% at December 31, 2020. There were no short-term advances at September 30, 2021. Long-term advances are summarized by maturity date below. September 30, 2021 December 31, 2020 Amount by Weighted Amount by Weighted Scheduled Amount by Average Scheduled Amount by Average Maturity* Call Date (1) Rate (2) Maturity* Call Date (1) Rate (2) (dollars in thousands) Year ending December 31: 2021 $ — $ 40,000 — % $ 41,750 101,750 2.47 % 2022 — — — — — — 2023 186 186 1.48 20,190 190 3.48 2024 13,400 13,400 1.39 10,000 10,000 1.68 2025 40,987 987 1.32 40,987 987 1.32 2026 and thereafter 1,147 1,147 2.00 1,170 1,170 2.00 $ 55,720 $ 55,720 1.35 % $ 114,097 $ 114,097 2.16 % * Includes an amortizing advance requiring monthly principal and interest payments. (1) (2) On September 30, 2021, the Company prepaid $20.0 million in FHLB borrowings that had maturity dates in 2023 and an aggregate prepayment penalty of $1.1 million was incurred and expensed, as the advances were not replaced with other FHLB borrowings. The FHLB advances are secured by a blanket security agreement which requires the Bank to maintain certain qualifying assets as collateral, principally residential mortgage loans and certain multi-family and commercial real estate loans held in the Bank’s portfolio. The carrying value of the loans pledged as collateral for these borrowings totaled $1.22 billion at September 30, 2021 and $1.25 billion at December 31, 2020. As of September 30, 2021, the Company had $863.6 million of available borrowing capacity with the FHLB. The Company also has additional borrowing capacity under a $25.0 million unsecured federal funds line with a correspondent bank and a secured line of credit with the Federal Reserve Bank of Boston secured by 66% of the carrying value of indirect auto and commercial loans with principal balances amounting to $103.6 million and $107.1 million at September 30, 2021 and December 31, 2020, respectively. No amounts were outstanding under either line at September 30, 2021 or December 31, 2020. Because a participating lender in the PPP, the Company also has access to additional borrowing capacity through the Board of Governors of the Federal Reserve System’s (the “Federal Reserve”) Paycheck Protection Program Liquidity Facility. Only loans issued under the PPP may be pledged as collateral. On August 30, 2018, the Company issued $35.0 million in fixed-to-floating rate subordinated notes due 2028 (the “Notes”) in a private placement transaction to institutional accredited investors. The Notes bear interest at annual fixed rate of 5.625% until September 1, 2023 at which time the interest rate resets quarterly to an interest rate per annum equal to the three–month LIBOR plus 278 basis points. Interest is payable semi-annually on March 1 and September 1 each year through September 1, 2023 and quarterly thereafter. The Notes can be redeemed partially or in whole, prior to the maturity date beginning September 1, 2023 and on any scheduled interest payment date thereafter, at par. The Notes are carried on the Consolidated Balance Sheets net of unamortized issuance costs of $872,000 and $967,000 at September 30, 2021 and December 31, 2020, respectively, which are being amortized over the period to maturity date using the interest method. At September 30, 2021 and December 31, 2020, the Notes qualified as Tier 2 capital for regulatory capital purposes.

OTHER COMMITMENTS AND CONTINGEN

OTHER COMMITMENTS AND CONTINGENCIES	9 Months Ended
OTHER COMMITMENTS AND CONTINGENCIES	Sep. 30, 2021
OTHER COMMITMENTS AND CONTINGENCIES
OTHER COMMITMENTS AND CONTINGENCIES	9. 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 September 30, 2021 and December 31, 2020. The contract amounts represent credit risk. September 30, December 31, 2021 2020 (in thousands) Commitments to grant residential real estate loans-HarborOne Mortgage $ 261,201 $ 485,428 Commitments to grant other loans 93,132 53,714 Unadvanced funds on home equity lines of credit 204,439 178,432 Unadvanced funds on revolving lines of credit 205,074 169,907 Unadvanced funds on construction loans 148,000 127,776 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 and 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	9 Months Ended
DERIVATIVES	Sep. 30, 2021
DERIVATIVES
DERIVATIVES	10. DERIVATIVES The Company’s derivative financial instruments are used to manage differences in the amount, timing and duration of the Company’s known or expected cash receipts and its known or expected cash payments principally to manage the Company’s interest rate risk. Additionally, the Company enters into interest rate derivatives to accommodate the business requirements of its customers. All derivatives are recognized as either assets or liabilities on the balance sheet and are measured at fair value. The accounting for changes in the fair value of a derivative instrument depends upon whether or not it qualifies as a hedge for accounting purposes, and further, by the type of hedging relationship. Interest Rate Swaps Designated as a Cashflow Hedge As part of its interest rate risk management strategy, the Company utilizes interest rate swap agreements to help manage its interest rate risk positions. The notional amount of the interest rate swaps do not represent the amount exchanged by the parties. The exchange of cash flows is determined by reference to the notional amounts and the other terms of the interest rate swap agreements. The changes in fair value of derivatives designated as cash flow hedges are recorded in other comprehensive income and subsequently reclassified to earnings when gains or losses are realized. As of September 30, 2021, the Company had one interest rate swap agreement with a notional amount of $100.0 million that was designated as a cash flow hedge of certificates of deposits. The interest rate swap agreement has an average maturity of 3.52 years, the current weighted average fixed rate paid is 0.67% , the weighted average 3-month LIBOR swap receive rate is 0.12% , and the fair value is $358,000 . The Company expects approximately $506,000 related to the cash flow hedge to be reclassified to interest expense, from other comprehensive income, in the next twelve months. 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 a 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 number 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 $20.5 million are pledged to secure the Company’s liability for the offsetting interest rate swaps (see Note 2). The interest rate swap notional amount is the aggregate notional amount of the customer swap and the offsetting third-party swap. Risk Participation Agreements The Company has entered into risk participation agreements with the correspondent institutions and shares in any interest rate swap losses incurred as a result of the commercial loan customers’ termination of a loan-level interest rate swap agreement prior to maturity. The Company records these risk participation agreements at fair value. The Company’s maximum credit exposure is based on its proportionate share of the settlement amount of the referenced interest rate swap. Settlement amounts are generally calculated based on the fair value of the swap plus outstanding accrued interest receivables from the customer. Although the Company has determined that the majority of the inputs used to value its interest rate swaps and risk participation agreements fall within Level 2 of the fair value hierarchy, the credit valuation adjustments associated with interest rate contracts and risk participation agreements utilize Level 3 inputs, such as estimates of current credit spreads to evaluate the likelihood of default by the Company and its counterparties. However, as of September 30, 2021 and December 31, 2020, the Company has assessed the significance of the impact of the credit valuation adjustments on the overall valuation of its derivative positions and has determined that the credit valuation adjustments a re not significant to the overall valuation of its derivatives. As a result, the Company has classified its derivative valuations in their entirety as Level 2. The following tables presents the outstanding notional balances and fair values of outstanding derivative instruments: Assets Liabilities Balance Balance Notional Sheet Fair Sheet Fair Amount Location Value Location Value (in thousands) September 30, 2021: Derivatives designated as Hedging Instruments Interest rate swaps $ 100,000 Other assets $ 358 Other liabilities $ — Derivatives not designated as Hedging Instruments Derivative loan commitments $ 261,202 Other assets $ 3,147 Other liabilities $ 43 Forward loan sale commitments 173,725 Other assets 884 Other liabilities 29 Interest rate swaps 764,430 Other assets 22,506 Other liabilities 22,506 Risk participation agreements 139,506 Other assets — Other liabilities — Total $ 26,895 $ 22,578 December 31, 2020: Derivatives designated as Hedging Instruments Interest rate swaps $ 100,000 — $ — Other liabilities $ 1,407 Derivatives not designated as Hedging Instruments Derivative loan commitments $ 485,428 Other assets $ 12,623 Other liabilities $ 341 Forward loan sale commitments 356,500 Other assets — Other liabilities 2,204 Interest rate swaps 867,728 Other assets 39,320 Other liabilities 39,320 Risk participation agreements 132,379 Other assets — Other liabilities — Total $ 51,943 $ 43,272 The following table presents the recorded net gains and losses pertaining to the Company’s derivative instruments: Three Months Ended September 30, Nine Months Ended September 30, 2021 2020 2021 2020 (in thousands) Derivatives designated as hedging instruments Gain (loss) in OCI on derivatives (effective portion), net of tax $ 116 $ 82 $ 1,271 $ (1,187) Loss reclassified from OCI into interest income or interest expense (effective portion) $ (140) $ (82) $ (373) $ 67 Derivatives not designated as hedging instruments Changes in fair value of derivative loan commitments Mortgage banking income $ (1,897) $ 4,738 $ (9,178) $ 14,266 Changes in fair value of forward loan sale commitments Mortgage banking income 1,064 755 3,059 (1,075) Total $ (833) $ 5,493 $ (6,119) $ 13,191

OPERATING LEASE RIGHT-OF-USE AS

OPERATING LEASE RIGHT-OF-USE ASSETS AND LIABILITIES	9 Months Ended
OPERATING LEASE RIGHT-OF-USE ASSETS AND LIABILITIES	Sep. 30, 2021
OPERATING LEASE RIGHT-OF-USE ASSETS AND LIABILITIES
OPERATING LEASE RIGHT-OF-USE ASSETS AND LIABILITIES	11. OPERATING LEASE RIGHT-OF-USE ASSETS AND LIABILITIES Operating lease ROU assets, included in other assets , were $25.2 million at September 30, 2021. Operating lease liabilities, included in other liabilities and accrued expenses , were $26.8 million at September 30, 2021. As of September 30, 2021, the Company does not have leases that have not yet commenced. At September 30, 2021, lease expiration dates ranged from 6 month s to 36.4 years and have a weighted average remaining lease term of 17.2 years. Future minimum lease payments under non-cancellable leases as of September 30, 2021 and December 31, 2020 September 30, 2021 December 31, 2020 (in thousands) 2021 $ 737 $ 2,452 2022 2,898 2,239 2023 2,733 1,847 2024 2,247 1,644 2025 2,113 1,684 Thereafter 21,951 13,134 Total lease payments 32,679 $ 23,000 Imputed interest (5,873) Total present value of operating lease liabilities $ 26,806 The weighted-average discount rate and remaining lease term for operating leases were as follows: September 30, 2021 Weighted-average discount rate 1.94 % Weighted-average remaining lease term (years) 17.20 Rental expense for operating leases is recognized on a straight-line basis over the lease term and amounted to $ and $701,000 , respectively, for the three months ended September 30, 2021 and 2020, and $2.2 million and $1.9 million, respectively, for the nine months ended September 30, 2021 and 2020, respectively. Variable lease components, such as fair market value adjustments, are expensed as incurred and not included in ROU assets and operating lease liabilities. The following table presents the components of total lease expense: Three Months Ended Nine Months Ended September 30, 2021 September 30, 2021 (in thousands) Lease Expense: Operating lease expense $ 742 $ 2,032 Short-term lease expense 52 122 Variable lease expense 2 21 Total lease expense $ 796 $ 2,175 Other Information Cash paid for amounts included in the measurement of lease liabilities- operating cash flows for operating leases 751 2,108 Operating Lease - Operating cash flows (Liability reduction) 624 1,745 Right-of-use assets obtained in exchange for new operating lease liabilities 276 27,267

STOCK-BASED COMPENSATION

STOCK-BASED COMPENSATION	9 Months Ended
STOCK-BASED COMPENSATION	Sep. 30, 2021
STOCK-BASED COMPENSATION
STOCK-BASED COMPENSATION	12. STOCK-BASED COMPENSATION Under the HarborOne Bancorp, Inc. 2020 Equity Incentive Plan (the “2020 Equity Plan”), adopted on September 29, 2020, the Company may grant stock options, restricted stock awards, performance restricted stock units and other equity incentives to its directors, officers and employees. Total shares reserved for issuance under the 2020 Equity Plans are 4,500,000. The 2017 Stock Option and Incentive Plan (the “2017 Equity Plan” and together with the 2020 Equity Plan, the “Equity Plans”), adopted on August 9, 2017, was discontinued upon the adoption of the 2020 Equity Plan, and as such, the Company may only award shares from the 2020 Equity Plan. Expense related to awards granted to employees is recognized as compensation expense, and expense related to awards granted to directors is recognized as directors’ fees within noninterest expense. Total expense for the Equity Plans was $992,000 and $2.8 million, for the three and nine months ended September 30, 2021, respectively, and $617,000 and $3.1 million, respectively, for the three and nine months ended September 30, 2020. Stock Options Stock options are generally granted with the exercise price equal to the market price of the Company’s common stock at the date of the grant with vesting periods ranging from one to three years and have ten-year contractual terms. The fair value of each option grant is estimated on the date of the grant using the Black-Scholes option-pricing model with the following assumptions: ● Volatility is based on peer group volatility due to lack of sufficient trading history for the Company. ● Expected life represents the period of time that the option is expected to be outstanding, taking into account the contractual term and the vesting period. ● Expected dividend yield is based on the Company’s history and expectation of dividend payouts. ● The risk-free rate is based on the U.S. Treasury yield curve in effect at the time of grant for a period equivalent to the expected life of the option. During the three and nine months ended September 30, 2021, the Company made no awards of nonqualified options to purchase shares of common stock. A summary of the status of the Company’s stock option grants for the nine months ended September 30, 2021, is presented in the table below: Outstanding Nonvested Weighted Average Weighted Weighted Remaining Aggregate Average Stock Option Average Contractual Intrinsic Stock Option Grant Date Awards Exercise Price Term (years) Value Awards Fair Value Balance at January 1, 2021 2,106,403 $ 9.86 473,445 $ 2.55 Granted — — — — Exercised (62,840) 10.23 — — Vested — — (192,849) 2.51 Forfeited — — — — Expired — — — — Balance at September 30, 2021 2,043,563 $ 9.85 6.49 $ — 280,596 $ 2.59 Exercisable at September 30, 2021 1,762,967 $ 9.94 6.35 $ — Unrecognized cost inclusive of directors' awards $ 251,116 Weighted average remaining recognition period (years) 0.46 Restricted Stock and Performance Restricted Stock Units Shares issued upon vesting may be either authorized but unissued shares or reacquired shares held by the Company. Any shares not issued because vesting requirements are not met will again be available for issuance under the plan. The fair market value of shares awarded, based on the market price at the date of grant, is unearned compensation to be amortized over the applicable vesting period. Performance restricted stock units vest based on a combination of performance and service requirements. The number of performance restricted stock units granted reflects the target number able to be earned under a given award. Non-vested performance restricted stock unit compensation expense is based on the most recent performance assumption available and is adjusted as assumptions change. The following table presents the activity in non-vested restricted stock awards under the Equity Plans for the nine months ended September 30, 2021: Restricted Weighted Average Stock Awards Grant Price Non-vested stock awards at January 1, 2021 384,692 $ 9.33 Vested (15,464) 10.00 Granted 188,377 11.95 Forfeited (3,000) 9.24 Non-vested stock awards at September 30, 2021 554,605 $ 10.20 Unrecognized cost inclusive of directors' awards $ 3,415,803 Weighted average remaining recognition period (years) 1.67 The following table presents the activity in non-vested performance restricted stock units under the 2020 Equity Plan for the nine months ended September 30, 2021: Performance Weighted Average Restricted Stock Units Grant Price Non-vested performance restricted stock units at January 1, 2021 — $ — Vested — — Granted 85,066 11.95 Forfeited — — Non-vested performance restricted stock units at September 30, 2021 85,066 $ 11.95 Unrecognized cost $ 818,235 Weighted average remaining recognition period (years) 2.42

MINIMUM REGULATORY CAPITAL REQU

MINIMUM REGULATORY CAPITAL REQUIREMENTS	9 Months Ended
MINIMUM REGULATORY CAPITAL REQUIREMENTS	Sep. 30, 2021
MINIMUM REGULATORY CAPITAL REQUIREMENTS
MINIMUM REGULATORY CAPITAL REQUIREMENTS	13. The Company and Bank are subject to various regulatory capital requirements administered by the Federal Reserve and 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, common equity 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% and a total capital ratio of 8.0%. In addition, a Tier 1 leverage ratio of 4.0% is required. Additionally, the capital rules require a bank holding company to maintain 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 the FDIC’s prompt corrective action rules, an insured state nonmember bank is considered “well capitalized” if its capital ratios meet or exceed the ratios as set forth in the following table and 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 Bank must meet well capitalized requirements under prompt corrective action provisions. Prompt corrective action provisions are not applicable to bank holding companies. A bank holding 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 6.0%, 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. At September 30, 2021, the capital levels of both the Company and the Bank exceeded all regulatory capital requirements and their regulatory capital ratios were above the minimum levels required to be considered well capitalized for regulatory purposes. The capital levels of both the Company and the Bank at September 30, 2021 also exceeded the minimum capital requirements, including the currently applicable capital conservation buffer of 2.5%. The Company’s and the Bank’s actual regulatory capital ratios as of September 30, 2021 and December 31, 2020 are presented in the table below. Minimum Required to be Considered "Well Capitalized" Minimum Required for Under Prompt Corrective Actual Capital Adequacy Purposes Action Provisions Amount Ratio Amount Ratio Amount Ratio (dollars in thousands) HarborOne Bancorp, Inc. September 30, 2021 Common equity Tier 1 capital to risk-weighted assets $ 608,882 17.1 % $ 160,129 4.5 % N/A N/A Tier 1 capital to risk-weighted assets 608,882 17.1 213,505 6.0 N/A N/A Total capital to risk-weighted assets 688,405 19.3 284,673 8.0 N/A N/A Tier 1 capital to average assets 608,882 13.5 180,139 4.0 N/A N/A December 31, 2020 Common equity Tier 1 capital to risk-weighted assets $ 621,153 17.7 % $ 158,050 4.5 % N/A N/A Tier 1 capital to risk-weighted assets 621,153 17.7 210,733 6.0 N/A N/A Total capital to risk-weighted assets 700,197 19.9 280,978 8.0 N/A N/A Tier 1 capital to average assets 621,153 14.5 171,578 4.0 N/A N/A HarborOne Bank September 30, 2021 Common equity Tier 1 capital to risk-weighted assets $ 559,819 15.7 % $ 160,182 4.5 % $ 231,374 6.5 % Tier 1 capital to risk-weighted assets 559,819 15.7 213,576 6.0 284,768 8.0 Total capital to risk-weighted assets 604,357 17.0 284,768 8.0 355,960 10.0 Tier 1 capital to average assets 559,819 12.4 180,113 4.0 225,141 5.0 December 31, 2020 Common equity Tier 1 capital to risk-weighted assets $ 506,822 14.4 % $ 158,081 4.5 % $ 228,339 6.5 % Tier 1 capital to risk-weighted assets 506,822 14.4 210,775 6.0 281,033 8.0 Total capital to risk-weighted assets 550,875 15.7 281,033 8.0 351,291 10.0 Tier 1 capital to average assets 506,822 11.8 171,501 4.0 214,377 5.0

COMPREHENSIVE INCOME (LOSS)

COMPREHENSIVE INCOME (LOSS)	9 Months Ended
COMPREHENSIVE INCOME (LOSS)	Sep. 30, 2021
COMPREHENSIVE INCOME (LOSS)
COMPREHENSIVE INCOME (LOSS)	14. 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 stockholders’ equity section of the Consolidated Balance Sheets, such items, along with net income, are components of comprehensive income (loss). The components of accumulated other comprehensive income (loss), included in stockholders’ equity, are as follows: September 30, December 31, 2021 2020 (in thousands) Cash flow hedge: Net unrealized gain (loss) $ 358 $ (1,407) Related tax effect (100) 394 Total accumulated other comprehensive income (loss) $ 258 $ (1,013) Securities available for sale: Net unrealized (loss) gain $ (1,765) $ 4,102 Related tax effect 389 (904) Total accumulated other comprehensive (loss) income $ (1,376) $ 3,198 The following tables present changes in accumulated other comprehensive income (loss) by component for the three and nine months ended September 30, 2021 and 2020: Three Months Ended September 30, 2021 2020 Available Cash Available Cash for Sale Flow for Sale Flow Securities Hedge Total Securities Hedge Total (in thousands) Balance at beginning of period $ 687 $ 142 $ 829 $ 4,166 $ (1,269) $ 2,897 Other comprehensive (loss) income before reclassifications (2,406) 22 (2,384) (1,335) 32 (1,303) Amounts reclassified to accumulated other comprehensive income for transfer of securities to available for sale — — — — — — Amounts reclassified from accumulated other comprehensive income (loss) (241) 140 (101) — 82 82 Net current period other comprehensive (loss) income (2,647) 162 (2,485) (1,335) 114 (1,221) Related tax effect 584 (46) 538 132 (32) 100 Balance at end of period $ (1,376) $ 258 $ (1,118) $ 2,963 $ (1,187) $ 1,776 Nine Months Ended September 30, 2021 2020 Available Cash Available Cash for Sale Flow for Sale Flow Securities Hedge Total Securities Hedge Total (in thousands) Balance at beginning of period $ 3,198 $ (1,013) $ 2,185 $ 1,480 $ — $ 1,480 Other comprehensive (loss) income before reclassifications (5,626) 1,392 (4,234) 4,212 (1,581) 2,631 Amounts reclassified to accumulated other comprehensive income for transfer of securities to available for sale — — — 522 — 522 Amounts reclassified from accumulated other comprehensive income (loss) (241) 373 132 (2,533) (67) (2,600) Net current period other comprehensive (loss) income (5,867) 1,765 (4,102) 2,201 (1,648) 553 Related tax effect 1,293 (494) 799 (718) 461 (257) Balance at end of period $ (1,376) $ 258 $ (1,118) $ 2,963 $ (1,187) $ 1,776

FAIR VALUE OF ASSETS AND LIABIL

FAIR VALUE OF ASSETS AND LIABILITIES	9 Months Ended
FAIR VALUE OF ASSETS AND LIABILITIES	Sep. 30, 2021
FAIR VALUE OF ASSETS AND LIABILITIES
FAIR VALUE OF ASSETS AND LIABILITIES	15. FAIR VALUE OF ASSETS AND LIABILITIES Fair value is the exchange price that would be received for an asset or paid to transfer a liability (exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. There are three levels of inputs that may be used to measure fair values: •Level 1 – Quoted prices (unadjusted) for identical assets or liabilities in active markets that the entity has the ability to access as of the measurement date. •Level 2 – Significant other 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. •Level 3 – Significant unobservable inputs that reflect a company’s own assumptions about the assumptions that market participants would use in pricing an asset or liability. The following methods and assumptions were used by the Company in estimating fair value disclosures: Debt Securities Level 2 debt securities are traded less frequently than exchange-traded instruments. The fair value of these securities is determined using matrix pricing with inputs that are observable in the market or can be derived principally from or corroborated by observable market data. This category includes obligations of U.S. government-sponsored enterprises, including mortgage-backed securities, individual name issuer trust preferred debt securities and corporate bonds. Debt securities not actively traded whose fair value is determined through the use of cash flows utilizing inputs that are unobservable are classified as Level 3. There were no Level 3 securities held at September 30, 2021 and December 31, 2020. Loans held for sale Collateral Dependent Impaired Loans Appraisals for collateral-dependent impaired loans are performed by certified general appraisers (for commercial properties) or certified residential appraisers (for residential properties) whose qualifications and licenses have been reviewed and verified by the Company. Once received, the Company reviews the assumptions and approaches utilized in the appraisal as well as the overall resulting fair value in comparison with independent data sources such as recent market data or industry-wide statistics. MSRs Interest rate swap designated as a cashflow hedge Forward loan sale commitments and derivative loan commitments Interest rate swaps and risk participation agreements Off-balance sheet credit-related instruments 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) September 30, 2021 Assets Securities available for sale $ — $ 390,552 $ — $ 390,552 Loans held for sale — 77,052 — 77,052 Mortgage servicing rights — 36,540 — 36,540 Derivative loan commitments — — 3,147 3,147 Forward loan sale commitments — — 884 884 Interest rate management agreements — 358 — 358 Interest rate swaps — 22,506 — 22,506 $ — $ 527,008 $ 4,031 $ 531,039 Liabilities Derivative loan commitments $ — $ — $ 43 $ 43 Forward loan sale commitments — — 29 29 Interest rate swaps — 22,506 — 22,506 $ — $ 22,506 $ 72 $ 22,578 December 31, 2020 Assets Securities available for sale $ — $ 276,498 $ — $ 276,498 Loans held for sale — 208,612 — 208,612 Mortgage servicing rights — 24,833 — 24,833 Derivative loan commitments — — 12,623 12,623 Forward loan sale commitments — — — — Interest rate swaps — 39,320 — 39,320 $ — $ 549,263 $ 12,623 $ 561,886 Liabilities Derivative loan commitments $ — $ — $ 341 $ 341 Forward loan sale commitments — — 2,204 2,204 Interest rate management agreements — 1,407 — 1,407 Interest rate swaps — 39,320 — 39,320 $ — $ 40,727 $ 2,545 $ 43,272 The table below presents, for the three and nine months ended September 30, 2021 and 2020, the changes in Level 3 assets and liabilities that are measured at fair value on a recurring basis. Three Months Ended September 30, Nine Months Ended September 30, 2021 2020 2021 2020 (in thousands) Assets: Derivative and Forward Loan Sale Commitments: Balance at beginning of period $ 5,134 $ 10,844 $ 12,623 $ 1,411 Total gains (losses) included in net income (1) (1,103) 4,903 (8,592) 14,336 Balance at end of period $ 4,031 $ 15,747 $ 4,031 $ 15,747 Changes in unrealized gains relating to instruments at period end $ 4,031 $ 15,747 $ 4,031 $ 15,747 Three Months Ended September 30, Nine Months Ended September 30, 2021 2020 2021 2020 (in thousands) Liabilities: Derivative and Forward Loan Sale Commitments: Balance at beginning of period $ (342) $ (2,067) $ (2,545) $ (332) Total gains (losses) included in net income (1) 270 590 2,473 (1,145) Balance at end of period $ (72) $ (1,477) $ (72) $ (1,477) Changes in unrealized losses relating to instruments at period end $ (72) $ (1,477) $ (72) $ (1,477) (1) Included in mortgage banking income on the 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 September 30, 2021 and December 31, 2020. The following table summarizes the fair value hierarchy used to determine each adjustment and the carrying value of the related individual assets. September 30, 2021 December 31, 2020 Level 1 Level 2 Level 3 Level 1 Level 2 Level 3 (in thousands) Impaired loans: Residential $ — $ — $ 846 $ — $ — $ 919 Commercial real estate — — 17,662 — — 3,034 Commercial and industrial — — 4,956 — — 4,208 Other real estate owned and repossessed assets — — 28 — — 595 $ — $ — $ 23,492 $ — $ — $ 8,756 Losses in the following table represent the amount of the fair value adjustments recorded during the period on the carrying value of the assets held at September 30, 2021 and December 31, 2020, respectively. Losses on fully charged off loans are not included in the table. Three Months Ended September 30, Nine Months Ended September 30, 2021 2020 2021 2020 (in thousands) Impaired loans Residential $ — $ 103 $ — $ 369 Commercial real estate 5,124 — 5,124 — Commercial and industrial 8 644 2,824 2,654 Other real estate owned and repossessed assets — 2 24 58 $ 5,132 $ 749 $ 7,972 $ 3,081 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 are 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. September 30, 2021 Carrying Fair Value Amount Level 1 Level 2 Level 3 Total (in thousands) Financial assets: Cash and cash equivalents $ 319,639 $ 319,639 $ — $ — $ 319,639 Securities available for sale 390,552 — 390,552 — 390,552 Federal Home Loan Bank stock 6,828 N/A N/A N/A N/A Loans held for sale 77,052 — 77,052 — 77,052 Loans, net 3,409,756 — — 3,441,946 3,441,946 Retirement plan annuities 14,065 — — 14,065 14,065 Accrued interest receivable 10,880 — 10,880 — 10,880 Financial liabilities: Deposits 3,694,380 — — 3,697,001 3,697,001 Borrowed funds 55,720 — 56,350 — 56,350 Subordinated debt 34,128 — — 37,206 37,206 Mortgagors' escrow accounts 8,412 — — 8,412 8,412 Accrued interest payable 567 — 567 — 567 Derivative loan commitments: Assets 3,147 — — 3,147 3,147 Liabilities 43 — — 43 43 Interest rate management agreements: Assets 358 — 358 — 358 Liabilities — — — — — Interest rate swap agreements: Assets 22,506 — 22,506 — 22,506 Liabilities 22,506 — 22,506 — 22,506 Forward loan sale commitments: Assets 884 — — 884 884 Liabilities 29 — — 29 29 December 31, 2020 Carrying Fair Value Amount Level 1 Level 2 Level 3 Total (in thousands) Financial assets: Cash and cash equivalents $ 205,870 $ 205,870 $ — $ — $ 205,870 Securities available for sale 276,498 — 276,498 — 276,498 Federal Home Loan Bank stock 8,738 N/A N/A N/A N/A Loans held for sale 208,612 — 208,612 — 208,612 Loans, net 3,439,247 — — 3,473,751 3,473,751 Retirement plan annuities 13,747 — — 13,747 13,747 Accrued interest receivable 11,874 — 11,874 — 11,874 Financial liabilities: Deposits 3,506,209 — — 3,509,996 3,509,996 Borrowed funds 149,097 — 152,373 — 152,373 Subordinated debt 34,033 — — 34,799 34,799 Mortgagors' escrow accounts 7,736 — — 7,736 7,736 Accrued interest payable 1,262 — 1,262 — 1,262 Derivative loan commitments: Assets 12,623 — — 12,623 12,623 Liabilities 341 — — 341 341 Interest rate management agreements: Liabilities 1,407 — 1,407 — 1,407 Interest rate swap agreements: Assets 39,320 — 39,320 — 39,320 Liabilities 39,320 — 39,320 — 39,320 Forward loan sale commitments: Assets — — — — — Liabilities 2,204 — — 2,204 2,204

EARNINGS PER SHARE

EARNINGS PER SHARE	9 Months Ended
EARNINGS PER SHARE	Sep. 30, 2021
EARNINGS PER SHARE
EARNINGS PER SHARE	16. EARNINGS PER SHARE (“EPS”) Basic EPS represents net income attributable to common shareholders divided by the weighted-average number of common shares outstanding during the period. Non-vested restricted shares that are participating securities are included in the computation of basic earnings per share. Diluted EPS is computed by dividing net income attributable to common shareholders by the weighted-average number of common shares outstanding, plus the effect of potential dilutive common stock equivalents outstanding during the period. The following table presents earnings per common share. Three Months Ended September 30, 2021 2020 Net income available to common stockholders (in thousands) $ 12,259 $ 11,893 Average number of common shares outstanding 54,021,542 58,375,742 Less: Average unallocated ESOP shares and non-vested restricted shares (4,220,419) (3,910,403) Weighted average number of common shares outstanding used to calculate basic earnings per common share 49,801,123 54,465,339 Dilutive effect of share-based compensation 862,292 — Weighted average number of common shares outstanding used to calculate diluted earnings per common share 50,663,415 54,465,339 Earnings per common share: Basic $ 0.25 $ 0.22 Diluted $ 0.24 $ 0.22 Nine Months Ended September 30, 2021 2020 Net income available to common stockholders (in thousands) $ 45,927 $ 27,192 Average number of common shares outstanding 55,599,758 58,403,825 Less: Average unallocated ESOP shares and non-vested restricted shares (4,237,506) (3,967,735) Weighted average number of common shares outstanding used to calculate basic earnings per common share 51,362,252 54,436,090 Dilutive effect of share-based compensation 732,497 — Weighted average number of common shares outstanding used to calculate diluted earnings per common share 52,094,749 54,436,090 Earnings per common share: Basic $ 0.89 $ 0.50 Diluted $ 0.88 $ 0.50 Stock options for 2,148,295 shares of common stock for the three and nine months ended September 30, 2020 were not considered in computing diluted earnings per share because they were antidilutive.

REVENUE RECOGNITION

REVENUE RECOGNITION	9 Months Ended
REVENUE RECOGNITION	Sep. 30, 2021
REVENUE RECOGNITION
REVENUE RECOGNITION	17. REVENUE RECOGNITION Revenue from contracts with customers in the scope of Accounting Standards Codification (“ASC”) (“Topic 606”) is measured based on the consideration specified in the contract with a customer and excludes amounts collected on behalf of third parties. The Company recognizes revenue from contracts with customers when it satisfies its performance obligations. The Company’s performance obligations are generally satisfied as services are rendered and can either be satisfied at a point in time or over time. Unsatisfied performance obligations at the report date are not material to our consolidated financial statements. In certain cases, other parties are involved with providing services to our customers. If the Company is a principal in the transaction (providing services itself or through a third party on its behalf), revenues are reported based on the gross consideration received from the customer and any related expenses are reported gross in noninterest expense. If the Company is an agent in the transaction (referring to another party to provide services), the Company reports its net fee or commission retained as revenue. The Company recognizes revenue that is transactional in nature and such revenue is earned at a point in time. Revenue that is recognized at a point in time includes card interchange fees (fee income related to debit card transactions), ATM fees, wire transfer fees, overdraft charge fees, and stop-payment and returned check fees. Additionally, revenue is collected from loan fees, such as letters of credit, line renewal fees and application fees. Such revenue is derived from transactional information and is recognized as revenue immediately as the transactions occur or upon providing the service to complete the customer’s transaction.

SEGMENT REPORTING

SEGMENT REPORTING	9 Months Ended
SEGMENT REPORTING	Sep. 30, 2021
SEGMENT REPORTING
SEGMENT REPORTING	18. SEGMENT REPORTING The Company has two reportable segments: HarborOne Bank and HarborOne Mortgage. Revenue from HarborOne Bank consists primarily of interest earned on loans and investment securities and service charges on deposit accounts. Revenue from HarborOne 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 September 30, 2021 and 2020 and for the three and nine months then ended is presented in the tables below. Three Months Ended September 30, 2021 HarborOne HarborOne HarborOne Bank Mortgage Bancorp, Inc. Eliminations Consolidated (in thousands) Net interest and dividend income (expense) $ 32,494 $ 792 $ (483) $ — $ 32,803 Provision (credit) for loan losses (1,627) — — — (1,627) Net interest and dividend income (loss), after provision (credit) for loan losses 34,121 792 (483) — 34,430 Mortgage banking income: Gain on sale of mortgage loans — 12,756 — — 12,756 Intersegment gain (loss) (1,373) 2,366 — (993) — Changes in mortgage servicing rights fair value (74) (918) — — (992) Other 263 3,619 — — 3,882 Total mortgage banking income (loss) (1,184) 17,823 — (993) 15,646 Other noninterest income 6,339 25 — — 6,364 Total noninterest income 5,155 17,848 — (993) 22,010 Noninterest expense 26,570 12,387 317 — 39,274 Income (loss) before income taxes 12,706 6,253 (800) (993) 17,166 Provision (benefit) for income taxes 3,575 1,559 (227) — 4,907 Net income (loss) $ 9,131 $ 4,694 $ (573) $ (993) $ 12,259 Nine Months Ended September 30, 2021 HarborOne HarborOne HarborOne Bank Mortgage Bancorp, Inc. Eliminations Consolidated (in thousands) Net interest and dividend income (expense) $ 95,876 $ 2,897 $ (1,388) $ — $ 97,385 Provision (credit) for loan losses (5,822) — — — (5,822) Net interest and dividend income (loss), after provision (credit) for loan losses 101,698 2,897 (1,388) — 103,207 Mortgage banking income: Gain on sale of mortgage loans — 51,820 — — 51,820 Intersegment gain (loss) (2,945) 3,938 — (993) — Changes in mortgage servicing rights fair value (207) 72 — — (135) Other 839 11,633 — — 12,472 Total mortgage banking income (loss) (2,313) 67,463 — (993) 64,157 Other noninterest income 17,328 37 — — 17,365 Total noninterest income 15,015 67,500 — (993) 81,522 Noninterest expense 75,161 44,545 968 — 120,674 Income (loss) before income taxes 41,552 25,852 (2,356) (993) 64,055 Provision (benefit) for income taxes 11,873 6,905 (650) — 18,128 Net income (loss) $ 29,679 $ 18,947 $ (1,706) $ (993) $ 45,927 Total assets at period end $ 4,575,798 $ 208,888 $ 717,325 $ (934,917) $ 4,567,094 Goodwill at period end $ 59,042 $ 10,760 $ — $ — $ 69,802 Three Months Ended September 30, 2020 HarborOne HarborOne HarborOne Bank Mortgage Bancorp, Inc. Eliminations Consolidated (in thousands) Net interest and dividend income (expense) $ 30,599 $ 1,000 $ (430) $ — $ 31,169 Provision for loan losses 13,454 — — — 13,454 Net interest and dividend income (loss), after provision for loan losses 17,145 1,000 (430) — 17,715 Mortgage banking income: Gain on sale of mortgage loans — 34,055 — — 34,055 Intersegment gain (loss) (645) 645 — — — Changes in mortgage servicing rights fair value (354) 161 — — (193) Other 334 3,924 — — 4,258 Total mortgage banking income (loss) (665) 38,785 — — 38,120 Other noninterest income (loss) 6,326 (8) — — 6,318 Total noninterest income 5,661 38,777 — — 44,438 Noninterest expense 26,300 19,133 266 — 45,699 Income (loss) before income taxes (3,494) 20,644 (696) — 16,454 Provision (benefit) for income taxes 571 4,550 (560) — 4,561 Net income (loss) $ (4,065) $ 16,094 $ (136) $ — $ 11,893 Nine Months Ended September 30, 2020 HarborOne HarborOne HarborOne Bank Mortgage Bancorp Inc. Eliminations Consolidated (in thousands) Net interest and dividend income (expense) $ 86,248 $ 2,020 $ (952) $ — $ 87,316 Provision for loan losses 27,207 — — — 27,207 Net interest and dividend income (loss), after provision for loan losses 59,041 2,020 (952) — 60,109 Mortgage banking income: Gain on sale of mortgage loans — 77,195 — — 77,195 Intersegment gain (loss) (2,444) 2,444 — — — Changes in mortgage servicing rights fair value (2,014) (3,677) — — (5,691) Other 1,031 9,619 — — 10,650 Total mortgage banking income (loss) (3,427) 85,581 — — 82,154 Other noninterest income (loss) 19,640 (141) — — 19,499 Total noninterest income 16,213 85,440 — — 101,653 Noninterest expense 75,806 47,923 907 — 124,636 Income (loss) before income taxes (552) 39,537 (1,859) — 37,126 Provision (benefit) for income taxes 2,199 8,667 (932) — 9,934 Net income (loss) $ (2,751) $ 30,870 $ (927) $ — $ 27,192 Total assets at period end $ 4,404,842 $ 280,983 $ 729,838 $ (987,344) $ 4,428,319 Goodwill at period end $ 59,042 $ 10,760 $ — $ — $ 69,802

SUMMARY OF SIGNIFICANT ACCOUN_2

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	9 Months Ended
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	Sep. 30, 2021
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Basis 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 year ended December 31, 2020 and 2019 and notes thereto included in the Company’s Annual Report on Form 10-K. The unaudited interim Consolidated Financial Statements include the accounts of the Company; the Company’s subsidiaries, Legion Parkway Company LLC (a security corporation) and HarborOne Bank (the “Bank”); and the Bank’s wholly-owned subsidiaries, which consist of HarborOne Mortgage, LLC (“HarborOne Mortgage”), a passive investment corporation, and two security corporations. The passive investment corporation maintains and manages certain assets of the Bank. The security corporations were established for the purpose of buying, holding and selling securities on their own behalf. All significant intercompany balances and transactions have been eliminated in consolidation. Certain prior year amounts have been reclassified to conform to the current year financial statement presentation. These changes and reclassifications did not impact previously reported net income or comprehensive income.
Nature of Operations	Nature of Operations The Company provides a variety of financial services to individuals and businesses through its 27 full-service branches in Massachusetts and Rhode Island, and commercial lending offices in each of Boston, Massachusetts and Providence, Rhode Island. HarborOne Mortgage maintains more than 30 offices in Massachusetts, Rhode Island, New Hampshire, and Maine and is licensed to lend in six 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, home equity, and consumer loans. The Company also originates, sells and services residential mortgage loans through HarborOne Mortgage.
Risks and Uncertainties	Risks and Uncertainties ● Net interest income could be reduced. In accordance with regulatory guidance, the Company worked with borrowers impacted by the COVID-19 pandemic to defer payments. While interest will continue to be recognized in accordance with GAAP, should eventual credit losses on these deferments emerge, interest income would be negatively impacted. At September 30, 2021, $7.9 million in loans were in an active deferral period and $1.5 million in loans with an expired deferral period were delinquent more than 30 days. ● Continued uncertainty regarding the severity and duration of the COVID-19 pandemic and the related economic effects on credit quality could continue to affect the accounting for loan losses. Although credit quality has not been a severely impacted so far, it is possible that asset quality could worsen, and loan charge-offs could increase as government aid expires or if new variants result in renewed business restrictions. The Bank participated in the U.S. Small Business Administration’s (“SBA”) Paycheck Protection Program (“PPP”) providing loans to small businesses negatively impacted by the COVID-19 pandemic. PPP loans are fully guaranteed by the U.S. government and continue to be forgiven. As of September 30, 2021, PPP loans amounted to $54.3 million and there was $2.1 million of deferred processing fee income. We expect to complete the forgiveness process on most of the remaining PPP loans by year end. ● Noninterest income could be reduced. Uncertainty regarding the severity and duration of the COVID-19 pandemic could cause further volatility in the financial markets. The COVID-19 pandemic and the measures taken to control its spread may disrupt the mortgage loan origination process. Mortgage banking revenues are dependent on mortgage origination volume and are sensitive to interest rates and the condition of housing markets. ● Valuation and fair value measurement challenges may occur. Changes in the COVID-19 pandemic could cause a decline in the Company’s stock price or other triggering events could occur that would cause management to perform a goodwill impairment test that may result in an impairment charge being recorded to earnings for that period.
Recently Adopted Accounting Standards Updates ("ASU") and ASUs not yet Adopted	Summary of Significant Accounting Policies and Recently Adopted Accounting Standards Updates (“ASU”) 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. The Company’s emerging growth company status is scheduled to end December 31, 2021 unless a triggering event occurs sooner. Significant accounting policies in effect and disclosed within the Company’s most recent audited consolidated financial statements as of December 31, 2020 remain substantially unchanged with the exception of the accounting policy for leases as a result of adopting ASU 2016-02, Leases (Topic 842) and subsequent related updates (collectively ASU 2016-02) as described below. The Company adopted ASU 2016-02 on January 1, 2021, which requires lessees to recognize most leases on their balance sheet. Lessor accounting is largely unchanged. ASU 2016-02 requires both quantitative and qualitative disclosures regarding key information about lease arrangements from both lessees and lessors. The Company elected the effective date transition method utilizing the adoption date as the first date of application of the revised guidance. As a result, prior period amounts have not been restated. Upon adoption, the Company elected certain transitional practical expedients offered through the guidance, including the “package of practical expedients” whereby it did not reassess (i) whether any expired or existing contracts contain leases, (ii) the lease classification of any expired or existing leases, and (iii) initial direct costs for any existing leases, which resulted in the Company not recognizing a cumulative effect adjustment to retained earnings. Management evaluated the leasing contracts and activities and developed methodologies and processes to estimate and account for the right-of-use (“ROU”) assets and lease liabilities for building leases based on the present value of future lease payments. On January 1, 2021, the Company recorded right-of-use (“ROU”) assets, included in other assets, and lease liabilities, included in other liabilities, totaling $23.2 million and $24.4 million, respectively. The impact to capital ratios as a result of increased risk-weighted assets was immaterial. The adoption of this guidance did not result in a material change to lessee expense recognition. The Company is committed to rent premises and equipment used in business operations under non-cancelable operating leases and determines if an arrangement meets the definition of a lease upon inception. Leases that transfer substantially all of the benefits and risks of ownership to the Company are classified as finance leases, while all others are classified as operating leases. At lease commencement, a lease liability and ROU asset are calculated and recognized on both types of leases. The lease liability is equal to the present value of the future minimum lease payments. The ROU asset is equal to the lease liability, plus any initial direct costs and prepaid lease payments, less any lessor incentives received. Operating lease ROU assets are included in other assets and finance lease ROU assets are included in premises and equipment, net. The Company’s leases do not provide an implicit interest rate; therefore, the Company used the appropriate Federal Home Loan Bank (“FHLB”) term rate commensurate with the underlying lease terms to determine the present value of operating lease liabilities. The lease term used in the calculation includes any options to extend that the Company is reasonably certain to exercise, determined on a lease-by-lease basis. Leases with an initial term of 12 months or less are not recorded on the balance sheet; we recognize lease expense for these leases on a straight-line basis over the lease term. At September 30, 2021, the Company had no finance lease ROU assets or lease liabilities . For operating leases, total lease cost is comprised of lease expense, short-term lease cost, and variable lease cost. Lease expense includes future minimum lease payments, which are recognized on a straight-line basis over the lease term, as well as common area maintenance charges, real estate taxes, insurance and other expenses, where applicable, which are expensed as incurred. Total lease cost for operating leases is recorded in occupancy and equipment noninterest expense. See Note 11, Operating Lease Right-of-Use Assets and Liabilities, for further information. The Company also adopted the following ASU on January 1, 2021, which did not have a material impact on the Company’s Consolidated Financial Statements: ASU 2017-12 Derivatives and Hedging (Topic 815), Targeted Improvements to Accounting for Hedging Activities ASUs not yet Adopted ASU 2020-04 Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting These provisions apply to contract modifications that reference the London InterBank Offered Rate (“LIBOR”) or another reference rate expected to be discontinued because of reference rate reform. Qualifying modifications of loan agreements should be accounted for by prospectively adjusting the effective interest rate and the modification would be considered “minor” so that any existing unamortized deferred loan origination fees and costs would carry forward and continue to be amortized. Qualifying modifications of lease agreements should be accounted for as a continuation of the existing agreement with no reassessments of the lease classification and the discount rate or remeasurements of lease payments that otherwise would be required for modifications not accounted for as separate contracts. ASU 2020-04 also provides numerous optional expedients for hedge accounting. In January 2020, the FASB issued ASU 2021-01, Reference Rate Reform (Topic 848), which clarifies the scope of Topic 848 to include derivative instruments impacted by the discounting transition. ASU 2020-04 is effective as of March 12, 2020 through December 31, 2022, with adoption permitted as of any date from the beginning of an interim period that includes or is subsequent to March 12, 2020, or prospectively from a date within an interim period that includes or is subsequent to March 12, 2020, up to the date that the financial statements are available to be issued. Once elected, the amendments must be applied prospectively for all eligible contract modifications. is evaluating the effect that this ASU will have on the Company’s consolidated financial statements. ASU 2019-12 , Income Taxes (Topic 740) - Simplifying the Accounting for Income Taxes. The amendments in this ASU are intended to simplify the accounting for income taxes. ASU 2019-12 is effective for public companies for fiscal years beginning after December 15, 2020, with early adoption permitted. For all other entities the guidance is effective for fiscal years beginning after December 15, 2021. Certain provisions under ASU 2019-12 require prospective application, some require modified retrospective application through a cumulative-effect adjustment to retained earnings as of the beginning of the year of adoption, while other provisions require retrospective application to all periods presented in the consolidated financial statements upon adoption. The Company expects to adopt ASU 2019-12 on December 31, 2021 and it is not expected to have a material impact on the Company’s consolidated financial statements. ASU 2016-13 Financial Instruments—Credit Losses (Topic 326)

DEBT SECURITIES (Tables)

DEBT SECURITIES (Tables)	9 Months Ended
DEBT SECURITIES (Tables)	Sep. 30, 2021
DEBT SECURITIES
Schedule of securities with gross unrealized gains and losses	Gross Gross Amortized Unrealized Unrealized Fair Cost Gains Losses Value (in thousands) September 30, 2021: Securities available for sale U.S. government and government-sponsored enterprise obligations $ 38,155 $ — $ 426 $ 37,729 U.S. government agency and government-sponsored residential mortgage-backed securities 345,737 1,355 2,983 344,109 U.S. government-sponsored collateralized mortgage obligations 4,543 152 — 4,695 SBA asset-backed securities 3,882 137 — 4,019 Total securities available for sale $ 392,317 $ 1,644 $ 3,409 $ 390,552 December 31, 2020: Securities available for sale U.S. government and government-sponsored enterprise obligations $ 5,002 $ 93 $ — $ 5,095 U.S. government agency and government-sponsored residential mortgage-backed securities 234,819 3,113 305 237,627 U.S. government-sponsored collateralized mortgage obligations 16,326 330 — 16,656 SBA asset-backed securities 16,249 871 — 17,120 Total securities available for sale $ 272,396 $ 4,407 $ 305 $ 276,498
Schedule of debt securities by contractual maturity	Available for Sale Amortized Fair Cost Value (in thousands) After 1 year through 5 years $ — $ — After 5 years through 10 years 38,155 37,729 Over 10 years — — 38,155 37,729 U.S. government agency and government-sponsored residential mortgage-backed securities 345,737 344,109 U.S. government-sponsored collateralized mortgage obligations 4,543 4,695 SBA asset-backed securities 3,882 4,019 Total $ 392,317 $ 390,552
Schedule of proceeds and gross realized gains and losses related to sales and calls of securities	Three Months Ended September 30, Nine Months Ended September 30, 2021 2020 2021 2020 (in thousands) Sales Proceeds $ 39,321 $ — $ 39,321 $ 72,333 Gross gains 241 — 241 2,521 Gross losses — — — — Calls Proceeds $ 5,000 $ 2,000 $ 5,000 $ 8,635 Gross gains — — — 12 Gross losses — — — —
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) September 30, 2021: Securities available for sale U.S. government and government-sponsored enterprise obligations $ 426 $ 37,729 $ — $ — U.S. government agency and government-sponsored residential mortgage-backed securities 2,771 261,886 212 19,759 $ 3,197 $ 299,615 $ 212 $ 19,759 December 31, 2020: Securities available for sale U.S. government agency and government-sponsored residential mortgage-backed securities $ 283 $ 67,460 $ 22 $ 3,668

LOANS HELD FOR SALE (Tables)

LOANS HELD FOR SALE (Tables)	9 Months Ended
LOANS HELD FOR SALE (Tables)	Sep. 30, 2021
LOANS HELD FOR SALE
Schedule of fair value and contractual principal balance outstanding of loans held for sale	September 30, December 31, 2021 2020 (in thousands) Loans held for sale, fair value $ 77,052 $ 208,612 Loans held for sale, contractual principal outstanding 75,009 198,984 Fair value less unpaid principal balance $ 2,043 $ 9,628

LOANS (Tables)

LOANS (Tables)	9 Months Ended
LOANS (Tables)	Sep. 30, 2021
Summary of balances of loans	September 30, December 31, 2021 2020 (in thousands) Residential real estate: One- to four-family $ 993,725 $ 928,934 Second mortgages and equity lines of credit 135,147 145,672 Residential real estate construction 31,817 31,217 Total residential real estate loans 1,160,689 1,105,823 Commercial: Commercial real estate 1,573,284 1,551,265 Commercial construction 152,685 99,331 Commercial and industrial 414,814 464,393 Total commercial loans 2,140,783 2,114,989 Consumer loans: Auto 149,019 265,266 Personal 7,253 8,564 Total consumer loans 156,272 273,830 Total loans 3,457,744 3,494,642 Allowance for loan losses (47,988) (55,395) Loans, net $ 3,409,756 $ 3,439,247
Schedule of activity in allowance for loan losses and allocation of allowance to loan segments	The following is the activity in the allowance for loan losses for the three and nine months ended September 30, 2021 and 2020: Residential Commercial Commercial Commercial Real Estate Real Estate Construction and Industrial Consumer Unallocated Total (in thousands) Balance at June 30, 2020 $ 5,857 $ 18,389 $ 3,215 $ 3,562 $ 2,204 $ 2,880 $ 36,107 Provision for loan losses 1,721 7,771 962 1,617 643 740 13,454 Charge-offs — (62) — (213) (140) — (415) Recoveries 22 — — — 55 — 77 Balance at September 30, 2020 $ 7,600 $ 26,098 $ 4,177 $ 4,966 $ 2,762 $ 3,620 $ 49,223 Balance at June 30, 2021 $ 5,434 $ 32,991 $ 1,937 $ 8,059 $ 853 $ 1,999 $ 51,273 Provision (credit) for loan losses (2,009) 2,059 615 (815) (478) (999) (1,627) Charge-offs — (381) — (1,277) (61) — (1,719) Recoveries 8 1 — 18 34 — 61 Balance at September 30, 2021 $ 3,433 $ 34,670 $ 2,552 $ 5,985 $ 348 $ 1,000 $ 47,988 Residential Commercial Commercial Commercial Real Estate Real Estate Construction and Industrial Consumer Unallocated Total (in thousands) Balance at December 31, 2019 $ 3,178 $ 12,875 $ 2,526 $ 2,977 $ 1,010 $ 1,494 $ 24,060 Provision for loan losses 4,270 14,458 1,651 2,560 2,142 2,126 27,207 Charge-offs (52) (1,236) — (790) (519) — (2,597) Recoveries 204 1 — 219 129 — 553 Balance at September 30, 2020 $ 7,600 $ 26,098 $ 4,177 $ 4,966 $ 2,762 $ 3,620 $ 49,223 Balance at December 31, 2020 $ 7,419 $ 34,765 $ 1,955 $ 5,311 $ 2,475 $ 3,470 $ 55,395 Provision (credit) for loan losses (4,214) 293 597 2,101 (2,129) (2,470) (5,822) Charge-offs — (393) — (1,463) (147) — (2,003) Recoveries 228 5 — 36 149 — 418 Balance at September 30, 2021 $ 3,433 $ 34,670 $ 2,552 $ 5,985 $ 348 $ 1,000 $ 47,988 Allocation of the allowance to loan segments at September 30, 2021 and December 31, 2020 follows: Residential Commercial Commercial Commercial Real Estate Real Estate Construction and Industrial Consumer Unallocated Total (in thousands) September 30, 2021: Loans: Impaired loans $ 26,971 $ 18,155 $ — $ 6,183 $ — $ 51,309 Non-impaired loans 1,133,718 1,555,129 152,685 408,631 156,272 3,406,435 Total loans $ 1,160,689 $ 1,573,284 $ 152,685 $ 414,814 $ 156,272 $ 3,457,744 Allowance for loan losses: Impaired loans $ 662 $ 6,969 $ — $ 1,340 $ — $ — $ 8,971 Non-impaired loans 2,771 27,701 2,552 4,645 348 1,000 39,017 Total allowance for loan losses $ 3,433 $ 34,670 $ 2,552 $ 5,985 $ 348 $ 1,000 $ 47,988 December 31, 2020: Loans: Impaired loans $ 24,384 $ 12,513 $ — $ 9,359 $ — $ 46,256 Non-impaired loans 1,081,439 1,538,752 99,331 455,034 273,830 3,448,386 Total loans $ 1,105,823 $ 1,551,265 $ 99,331 $ 464,393 $ 273,830 $ 3,494,642 Allowance for loan losses: Impaired loans $ 802 $ 1,845 $ — $ 31 $ — $ — $ 2,678 Non-impaired loans 6,617 32,920 1,955 5,280 2,475 3,470 52,717 Total allowance for loan losses $ 7,419 $ 34,765 $ 1,955 $ 5,311 $ 2,475 $ 3,470 $ 55,395
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) September 30, 2021 Residential real estate: One- to four-family $ 778 $ 1,646 $ 3,458 $ 5,882 $ 11,754 Second mortgages and equity lines of credit 203 203 263 669 437 Commercial real estate 8,843 — 338 9,181 18,000 Commercial construction — — — — — Commercial and industrial 37 3 3,683 3,723 6,183 Consumer: Auto 533 109 84 726 111 Personal 55 18 1 74 1 Total $ 10,449 $ 1,979 $ 7,827 $ 20,255 $ 36,486 December 31, 2020 Residential real estate: One- to four-family $ 12,148 $ 2,223 $ 6,418 $ 20,789 $ 11,611 Second mortgages and equity lines of credit 460 46 433 939 834 Residential real estate construction 471 — — 471 — Commercial real estate 416 — 3,369 3,785 12,486 Commercial construction — — — — — Commercial and industrial 444 191 1,243 1,878 8,606 Consumer: Auto 1,657 397 488 2,542 557 Personal 88 11 2 101 7 Total $ 15,684 $ 2,868 $ 11,953 $ 30,505 $ 34,101
Schedule of information pertaining to impaired loans	The following information pertains to impaired loans: September 30, 2021 December 31, 2020 Unpaid Unpaid Recorded Principal Related Recorded Principal Related Investment Balance Allowance Investment Balance Allowance (in thousands) Impaired loans without a specific reserve: Residential real estate $ 17,445 $ 18,922 $ — $ 12,284 $ 13,039 $ — Commercial real estate 493 495 — 3,552 4,741 — Commercial construction — — — — — — Commercial and industrial 1,463 3,591 — 9,243 11,604 — Total 19,401 23,008 — 25,079 29,384 — Impaired loans with a specific reserve: Residential real estate 9,526 10,324 662 12,100 12,355 802 Commercial real estate 17,662 24,888 6,969 8,961 8,961 1,845 Commercial construction — — — — — — Commercial and industrial 4,720 5,625 1,340 116 181 31 Total 31,908 40,837 8,971 21,177 21,497 2,678 Total impaired loans $ 51,309 $ 63,845 $ 8,971 $ 46,256 $ 50,881 $ 2,678 Three Months Ended September 30, 2021 2020 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 real estate $ 22,268 $ 279 $ 121 $ 26,542 $ 272 $ 270 Commercial real estate 12,455 60 60 4,287 — — Commercial construction — — — 10,971 — — Commercial and industrial 7,834 13 13 10,334 9 9 Total $ 42,557 $ 352 $ 194 $ 52,134 $ 281 $ 279 Nine Months Ended September 30, 2021 2020 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 real estate $ 23,973 $ 822 $ 280 $ 26,454 $ 847 $ 788 Commercial real estate 13,894 125 125 3,202 1 1 Commercial construction — — — 11,039 — — Commercial and industrial 7,802 149 149 7,863 16 16 Total $ 45,669 $ 1,096 $ 554 $ 48,558 $ 864 $ 805
Schedule of loans by risk rating	September 30, 2021 December 31, 2020 Commercial Commercial Commercial Commercial Commercial Commercial Real Estate Construction and Industrial Real Estate Construction and Industrial (in thousands) Loans rated 1 - 6 $ 1,530,051 $ 152,685 $ 408,277 $ 1,524,105 $ 99,331 $ 452,665 Loans rated 7 25,078 — 354 14,674 — 3,122 Loans rated 8 18,155 — 438 9,455 — 7,080 Loans rated 9 — — 5,745 3,031 — 1,526 Loans rated 10 — — — — — — $ 1,573,284 $ 152,685 $ 414,814 $ 1,551,265 $ 99,331 $ 464,393
PCI
Schedule of information pertaining to impaired loans	September 30, December 31, 2021 2020 (in thousands) Outstanding balance $ 3,701 $ 4,307 Carrying amount $ 3,485 $ 4,079
Summary of activity in accretable yield for purchased credit impaired loans	Three Months Ended September 30, Nine Months Ended September 30, 2021 2020 2021 2020 (in thousands) Balance at beginning of period $ 136 $ 145 $ 141 $ 149 Additions — — — — Accretion (1) (3) (6) (7) Reclassification from nonaccretable difference — — — — Balance at end of period $ 135 $ 142 $ 135 $ 142

MORTGAGE LOAN SERVICING (Tables

MORTGAGE LOAN SERVICING (Tables)	9 Months Ended
MORTGAGE LOAN SERVICING (Tables)	Sep. 30, 2021
MORTGAGE LOAN SERVICING
Tabular disclosure of assumptions used in the calculation of fair value of MSR	September 30, December 31, 2021 2020 Prepayment speed 10.20 % 14.30 % Discount rate 9.21 9.23 Default rate 1.78 2.27
Schedule of summarized changes to mortgage servicing rights	Three Months Ended September 30, Nine Months Ended September 30, 2021 2020 2021 2020 (in thousands) Balance, beginning of period $ 35,955 $ 16,127 $ 24,833 $ 17,150 Additions 1,577 4,225 11,842 8,700 Changes in fair value due to: Reductions from loans paid off during the period (1,613) (1,083) (4,713) (2,773) Changes in valuation inputs or assumptions 621 890 4,578 (2,918) Balance, end of period $ 36,540 $ 20,159 $ 36,540 $ 20,159

DEPOSITS (Tables)

DEPOSITS (Tables)	9 Months Ended
DEPOSITS (Tables)	Sep. 30, 2021
DEPOSITS
Summary of deposit balances, by type	September 30, December 31, 2021 2020 (in thousands) NOW and demand deposit accounts $ 1,057,494 $ 908,256 Regular savings and club accounts 1,144,595 998,994 Money market deposit accounts 832,441 866,661 Total non-certificate accounts 3,034,530 2,773,911 Term certificate accounts greater than $250,000 116,427 135,190 Term certificate accounts less than or equal to $250,000 443,423 497,108 Brokered deposits 100,000 100,000 Total certificate accounts 659,850 732,298 Total deposits $ 3,694,380 $ 3,506,209
Summary of certificate accounts by maturity	Weighted Average Amount Rate (dollars in thousands) Within 1 year $ 571,378 0.51 % Over 1 year to 2 years 54,430 0.78 Over 2 years to 3 years 8,381 1.05 Over 3 years to 4 years 23,100 0.96 Over 4 years to 5 years 2,823 0.74 Total certificate deposits 660,112 0.56 % Less unaccreted acquisition discount (262) Total certificate deposits, net $ 659,850

BORROWED FUNDS (Tables)

BORROWED FUNDS (Tables)	9 Months Ended
BORROWED FUNDS (Tables)	Sep. 30, 2021
BORROWED FUNDS
Schedule of borrowed funds by maturity and call date	September 30, 2021 December 31, 2020 Amount by Weighted Amount by Weighted Scheduled Amount by Average Scheduled Amount by Average Maturity* Call Date (1) Rate (2) Maturity* Call Date (1) Rate (2) (dollars in thousands) Year ending December 31: 2021 $ — $ 40,000 — % $ 41,750 101,750 2.47 % 2022 — — — — — — 2023 186 186 1.48 20,190 190 3.48 2024 13,400 13,400 1.39 10,000 10,000 1.68 2025 40,987 987 1.32 40,987 987 1.32 2026 and thereafter 1,147 1,147 2.00 1,170 1,170 2.00 $ 55,720 $ 55,720 1.35 % $ 114,097 $ 114,097 2.16 % * Includes an amortizing advance requiring monthly principal and interest payments. (1) (2) On September 30, 2021, the Company prepaid $20.0 million in FHLB borrowings that had maturity dates in 2023 and an aggregate prepayment penalty of $1.1 million was incurred and expensed, as the advances were not replaced with other FHLB borrowings.

OTHER COMMITMENTS AND CONTING_2

OTHER COMMITMENTS AND CONTINGENCIES (Tables)	9 Months Ended
OTHER COMMITMENTS AND CONTINGENCIES (Tables)	Sep. 30, 2021
OTHER COMMITMENTS AND CONTINGENCIES
Schedule of financial instruments with off-balance sheet credit risk	September 30, December 31, 2021 2020 (in thousands) Commitments to grant residential real estate loans-HarborOne Mortgage $ 261,201 $ 485,428 Commitments to grant other loans 93,132 53,714 Unadvanced funds on home equity lines of credit 204,439 178,432 Unadvanced funds on revolving lines of credit 205,074 169,907 Unadvanced funds on construction loans 148,000 127,776

DERIVATIVES (Tables)

DERIVATIVES (Tables)	9 Months Ended
DERIVATIVES (Tables)	Sep. 30, 2021
DERIVATIVES
Schedule of outstanding notional balances and fair values of outstanding derivative instruments	Assets Liabilities Balance Balance Notional Sheet Fair Sheet Fair Amount Location Value Location Value (in thousands) September 30, 2021: Derivatives designated as Hedging Instruments Interest rate swaps $ 100,000 Other assets $ 358 Other liabilities $ — Derivatives not designated as Hedging Instruments Derivative loan commitments $ 261,202 Other assets $ 3,147 Other liabilities $ 43 Forward loan sale commitments 173,725 Other assets 884 Other liabilities 29 Interest rate swaps 764,430 Other assets 22,506 Other liabilities 22,506 Risk participation agreements 139,506 Other assets — Other liabilities — Total $ 26,895 $ 22,578 December 31, 2020: Derivatives designated as Hedging Instruments Interest rate swaps $ 100,000 — $ — Other liabilities $ 1,407 Derivatives not designated as Hedging Instruments Derivative loan commitments $ 485,428 Other assets $ 12,623 Other liabilities $ 341 Forward loan sale commitments 356,500 Other assets — Other liabilities 2,204 Interest rate swaps 867,728 Other assets 39,320 Other liabilities 39,320 Risk participation agreements 132,379 Other assets — Other liabilities — Total $ 51,943 $ 43,272
Schedule of net gains and losses on derivative instruments	Three Months Ended September 30, Nine Months Ended September 30, 2021 2020 2021 2020 (in thousands) Derivatives designated as hedging instruments Gain (loss) in OCI on derivatives (effective portion), net of tax $ 116 $ 82 $ 1,271 $ (1,187) Loss reclassified from OCI into interest income or interest expense (effective portion) $ (140) $ (82) $ (373) $ 67 Derivatives not designated as hedging instruments Changes in fair value of derivative loan commitments Mortgage banking income $ (1,897) $ 4,738 $ (9,178) $ 14,266 Changes in fair value of forward loan sale commitments Mortgage banking income 1,064 755 3,059 (1,075) Total $ (833) $ 5,493 $ (6,119) $ 13,191

OPERATING LEASE RIGHT-OF-USE _2

OPERATING LEASE RIGHT-OF-USE ASSETS AND LIABILITIES (Tables)	9 Months Ended
	Sep. 30, 2021
OPERATING LEASE RIGHT-OF-USE ASSETS AND LIABILITIES
Schedule of undiscounted future minimum operating lease payments	September 30, 2021 December 31, 2020 (in thousands) 2021 $ 737 $ 2,452 2022 2,898 2,239 2023 2,733 1,847 2024 2,247 1,644 2025 2,113 1,684 Thereafter 21,951 13,134 Total lease payments 32,679 $ 23,000 Imputed interest (5,873) Total present value of operating lease liabilities $ 26,806
Schedule of weighted-average discount rate and remaining lease term	September 30, 2021 Weighted-average discount rate 1.94 % Weighted-average remaining lease term (years) 17.20
Schedule of components of total lease expense	Three Months Ended Nine Months Ended September 30, 2021 September 30, 2021 (in thousands) Lease Expense: Operating lease expense $ 742 $ 2,032 Short-term lease expense 52 122 Variable lease expense 2 21 Total lease expense $ 796 $ 2,175 Other Information Cash paid for amounts included in the measurement of lease liabilities- operating cash flows for operating leases 751 2,108 Operating Lease - Operating cash flows (Liability reduction) 624 1,745 Right-of-use assets obtained in exchange for new operating lease liabilities 276 27,267

STOCK-BASED COMPENSATION (Table

STOCK-BASED COMPENSATION (Tables)	9 Months Ended
STOCK-BASED COMPENSATION (Tables)	Sep. 30, 2021
Schedule of stock option grants	Outstanding Nonvested Weighted Average Weighted Weighted Remaining Aggregate Average Stock Option Average Contractual Intrinsic Stock Option Grant Date Awards Exercise Price Term (years) Value Awards Fair Value Balance at January 1, 2021 2,106,403 $ 9.86 473,445 $ 2.55 Granted — — — — Exercised (62,840) 10.23 — — Vested — — (192,849) 2.51 Forfeited — — — — Expired — — — — Balance at September 30, 2021 2,043,563 $ 9.85 6.49 $ — 280,596 $ 2.59 Exercisable at September 30, 2021 1,762,967 $ 9.94 6.35 $ — Unrecognized cost inclusive of directors' awards $ 251,116 Weighted average remaining recognition period (years) 0.46
Restricted Stock Awards
Schedule of unvested stock award activity	Restricted Weighted Average Stock Awards Grant Price Non-vested stock awards at January 1, 2021 384,692 $ 9.33 Vested (15,464) 10.00 Granted 188,377 11.95 Forfeited (3,000) 9.24 Non-vested stock awards at September 30, 2021 554,605 $ 10.20 Unrecognized cost inclusive of directors' awards $ 3,415,803 Weighted average remaining recognition period (years) 1.67
Performance Restricted Stock Units
Schedule of unvested stock award activity	Performance Weighted Average Restricted Stock Units Grant Price Non-vested performance restricted stock units at January 1, 2021 — $ — Vested — — Granted 85,066 11.95 Forfeited — — Non-vested performance restricted stock units at September 30, 2021 85,066 $ 11.95 Unrecognized cost $ 818,235 Weighted average remaining recognition period (years) 2.42

MINIMUM REGULATORY CAPITAL RE_2

MINIMUM REGULATORY CAPITAL REQUIREMENTS (Tables)	9 Months Ended
MINIMUM REGULATORY CAPITAL REQUIREMENTS (Tables)	Sep. 30, 2021
MINIMUM REGULATORY CAPITAL REQUIREMENTS
Summary of the company's and the bank's actual regulatory capital ratios	Minimum Required to be Considered "Well Capitalized" Minimum Required for Under Prompt Corrective Actual Capital Adequacy Purposes Action Provisions Amount Ratio Amount Ratio Amount Ratio (dollars in thousands) HarborOne Bancorp, Inc. September 30, 2021 Common equity Tier 1 capital to risk-weighted assets $ 608,882 17.1 % $ 160,129 4.5 % N/A N/A Tier 1 capital to risk-weighted assets 608,882 17.1 213,505 6.0 N/A N/A Total capital to risk-weighted assets 688,405 19.3 284,673 8.0 N/A N/A Tier 1 capital to average assets 608,882 13.5 180,139 4.0 N/A N/A December 31, 2020 Common equity Tier 1 capital to risk-weighted assets $ 621,153 17.7 % $ 158,050 4.5 % N/A N/A Tier 1 capital to risk-weighted assets 621,153 17.7 210,733 6.0 N/A N/A Total capital to risk-weighted assets 700,197 19.9 280,978 8.0 N/A N/A Tier 1 capital to average assets 621,153 14.5 171,578 4.0 N/A N/A HarborOne Bank September 30, 2021 Common equity Tier 1 capital to risk-weighted assets $ 559,819 15.7 % $ 160,182 4.5 % $ 231,374 6.5 % Tier 1 capital to risk-weighted assets 559,819 15.7 213,576 6.0 284,768 8.0 Total capital to risk-weighted assets 604,357 17.0 284,768 8.0 355,960 10.0 Tier 1 capital to average assets 559,819 12.4 180,113 4.0 225,141 5.0 December 31, 2020 Common equity Tier 1 capital to risk-weighted assets $ 506,822 14.4 % $ 158,081 4.5 % $ 228,339 6.5 % Tier 1 capital to risk-weighted assets 506,822 14.4 210,775 6.0 281,033 8.0 Total capital to risk-weighted assets 550,875 15.7 281,033 8.0 351,291 10.0 Tier 1 capital to average assets 506,822 11.8 171,501 4.0 214,377 5.0

COMPREHENSIVE INCOME (LOSS) (Ta

COMPREHENSIVE INCOME (LOSS) (Tables)	9 Months Ended
COMPREHENSIVE INCOME (LOSS) (Tables)	Sep. 30, 2021
COMPREHENSIVE INCOME (LOSS)
Schedule of components of accumulated other comprehensive income (loss)	September 30, December 31, 2021 2020 (in thousands) Cash flow hedge: Net unrealized gain (loss) $ 358 $ (1,407) Related tax effect (100) 394 Total accumulated other comprehensive income (loss) $ 258 $ (1,013) Securities available for sale: Net unrealized (loss) gain $ (1,765) $ 4,102 Related tax effect 389 (904) Total accumulated other comprehensive (loss) income $ (1,376) $ 3,198
Summary of changes in accumulated other comprehensive income (loss)	Three Months Ended September 30, 2021 2020 Available Cash Available Cash for Sale Flow for Sale Flow Securities Hedge Total Securities Hedge Total (in thousands) Balance at beginning of period $ 687 $ 142 $ 829 $ 4,166 $ (1,269) $ 2,897 Other comprehensive (loss) income before reclassifications (2,406) 22 (2,384) (1,335) 32 (1,303) Amounts reclassified to accumulated other comprehensive income for transfer of securities to available for sale — — — — — — Amounts reclassified from accumulated other comprehensive income (loss) (241) 140 (101) — 82 82 Net current period other comprehensive (loss) income (2,647) 162 (2,485) (1,335) 114 (1,221) Related tax effect 584 (46) 538 132 (32) 100 Balance at end of period $ (1,376) $ 258 $ (1,118) $ 2,963 $ (1,187) $ 1,776 Nine Months Ended September 30, 2021 2020 Available Cash Available Cash for Sale Flow for Sale Flow Securities Hedge Total Securities Hedge Total (in thousands) Balance at beginning of period $ 3,198 $ (1,013) $ 2,185 $ 1,480 $ — $ 1,480 Other comprehensive (loss) income before reclassifications (5,626) 1,392 (4,234) 4,212 (1,581) 2,631 Amounts reclassified to accumulated other comprehensive income for transfer of securities to available for sale — — — 522 — 522 Amounts reclassified from accumulated other comprehensive income (loss) (241) 373 132 (2,533) (67) (2,600) Net current period other comprehensive (loss) income (5,867) 1,765 (4,102) 2,201 (1,648) 553 Related tax effect 1,293 (494) 799 (718) 461 (257) Balance at end of period $ (1,376) $ 258 $ (1,118) $ 2,963 $ (1,187) $ 1,776

FAIR VALUE OF ASSETS AND LIAB_2

FAIR VALUE OF ASSETS AND LIABILITIES (Tables)	9 Months Ended
FAIR VALUE OF ASSETS AND LIABILITIES (Tables)	Sep. 30, 2021
FAIR VALUE OF ASSETS AND LIABILITIES
Schedule of assets and liabilities measured at fair value on a recurring basis	Total Level 1 Level 2 Level 3 Fair Value (in thousands) September 30, 2021 Assets Securities available for sale $ — $ 390,552 $ — $ 390,552 Loans held for sale — 77,052 — 77,052 Mortgage servicing rights — 36,540 — 36,540 Derivative loan commitments — — 3,147 3,147 Forward loan sale commitments — — 884 884 Interest rate management agreements — 358 — 358 Interest rate swaps — 22,506 — 22,506 $ — $ 527,008 $ 4,031 $ 531,039 Liabilities Derivative loan commitments $ — $ — $ 43 $ 43 Forward loan sale commitments — — 29 29 Interest rate swaps — 22,506 — 22,506 $ — $ 22,506 $ 72 $ 22,578 December 31, 2020 Assets Securities available for sale $ — $ 276,498 $ — $ 276,498 Loans held for sale — 208,612 — 208,612 Mortgage servicing rights — 24,833 — 24,833 Derivative loan commitments — — 12,623 12,623 Forward loan sale commitments — — — — Interest rate swaps — 39,320 — 39,320 $ — $ 549,263 $ 12,623 $ 561,886 Liabilities Derivative loan commitments $ — $ — $ 341 $ 341 Forward loan sale commitments — — 2,204 2,204 Interest rate management agreements — 1,407 — 1,407 Interest rate swaps — 39,320 — 39,320 $ — $ 40,727 $ 2,545 $ 43,272
Schedule of changes in Level 3 assets measured at fair value on a recurring basis	Three Months Ended September 30, Nine Months Ended September 30, 2021 2020 2021 2020 (in thousands) Assets: Derivative and Forward Loan Sale Commitments: Balance at beginning of period $ 5,134 $ 10,844 $ 12,623 $ 1,411 Total gains (losses) included in net income (1) (1,103) 4,903 (8,592) 14,336 Balance at end of period $ 4,031 $ 15,747 $ 4,031 $ 15,747 Changes in unrealized gains relating to instruments at period end $ 4,031 $ 15,747 $ 4,031 $ 15,747
Schedule of changes in Level 3 liabilities measured at fair value on a recurring basis	Three Months Ended September 30, Nine Months Ended September 30, 2021 2020 2021 2020 (in thousands) Liabilities: Derivative and Forward Loan Sale Commitments: Balance at beginning of period $ (342) $ (2,067) $ (2,545) $ (332) Total gains (losses) included in net income (1) 270 590 2,473 (1,145) Balance at end of period $ (72) $ (1,477) $ (72) $ (1,477) Changes in unrealized losses relating to instruments at period end $ (72) $ (1,477) $ (72) $ (1,477) (1) Included in mortgage banking income on the Consolidated Statements of Net Income.
Schedule of assets measured at fair value on a non-recurring basis	The following table summarizes the fair value hierarchy used to determine each adjustment and the carrying value of the related individual assets. September 30, 2021 December 31, 2020 Level 1 Level 2 Level 3 Level 1 Level 2 Level 3 (in thousands) Impaired loans: Residential $ — $ — $ 846 $ — $ — $ 919 Commercial real estate — — 17,662 — — 3,034 Commercial and industrial — — 4,956 — — 4,208 Other real estate owned and repossessed assets — — 28 — — 595 $ — $ — $ 23,492 $ — $ — $ 8,756 Losses in the following table represent the amount of the fair value adjustments recorded during the period on the carrying value of the assets held at September 30, 2021 and December 31, 2020, respectively. Losses on fully charged off loans are not included in the table. Three Months Ended September 30, Nine Months Ended September 30, 2021 2020 2021 2020 (in thousands) Impaired loans Residential $ — $ 103 $ — $ 369 Commercial real estate 5,124 — 5,124 — Commercial and industrial 8 644 2,824 2,654 Other real estate owned and repossessed assets — 2 24 58 $ 5,132 $ 749 $ 7,972 $ 3,081
Schedule of estimated fair values and related carrying amounts of financial instruments	September 30, 2021 Carrying Fair Value Amount Level 1 Level 2 Level 3 Total (in thousands) Financial assets: Cash and cash equivalents $ 319,639 $ 319,639 $ — $ — $ 319,639 Securities available for sale 390,552 — 390,552 — 390,552 Federal Home Loan Bank stock 6,828 N/A N/A N/A N/A Loans held for sale 77,052 — 77,052 — 77,052 Loans, net 3,409,756 — — 3,441,946 3,441,946 Retirement plan annuities 14,065 — — 14,065 14,065 Accrued interest receivable 10,880 — 10,880 — 10,880 Financial liabilities: Deposits 3,694,380 — — 3,697,001 3,697,001 Borrowed funds 55,720 — 56,350 — 56,350 Subordinated debt 34,128 — — 37,206 37,206 Mortgagors' escrow accounts 8,412 — — 8,412 8,412 Accrued interest payable 567 — 567 — 567 Derivative loan commitments: Assets 3,147 — — 3,147 3,147 Liabilities 43 — — 43 43 Interest rate management agreements: Assets 358 — 358 — 358 Liabilities — — — — — Interest rate swap agreements: Assets 22,506 — 22,506 — 22,506 Liabilities 22,506 — 22,506 — 22,506 Forward loan sale commitments: Assets 884 — — 884 884 Liabilities 29 — — 29 29 December 31, 2020 Carrying Fair Value Amount Level 1 Level 2 Level 3 Total (in thousands) Financial assets: Cash and cash equivalents $ 205,870 $ 205,870 $ — $ — $ 205,870 Securities available for sale 276,498 — 276,498 — 276,498 Federal Home Loan Bank stock 8,738 N/A N/A N/A N/A Loans held for sale 208,612 — 208,612 — 208,612 Loans, net 3,439,247 — — 3,473,751 3,473,751 Retirement plan annuities 13,747 — — 13,747 13,747 Accrued interest receivable 11,874 — 11,874 — 11,874 Financial liabilities: Deposits 3,506,209 — — 3,509,996 3,509,996 Borrowed funds 149,097 — 152,373 — 152,373 Subordinated debt 34,033 — — 34,799 34,799 Mortgagors' escrow accounts 7,736 — — 7,736 7,736 Accrued interest payable 1,262 — 1,262 — 1,262 Derivative loan commitments: Assets 12,623 — — 12,623 12,623 Liabilities 341 — — 341 341 Interest rate management agreements: Liabilities 1,407 — 1,407 — 1,407 Interest rate swap agreements: Assets 39,320 — 39,320 — 39,320 Liabilities 39,320 — 39,320 — 39,320 Forward loan sale commitments: Assets — — — — — Liabilities 2,204 — — 2,204 2,204

EARNINGS PER SHARE (Tables)

EARNINGS PER SHARE (Tables)	9 Months Ended
EARNINGS PER SHARE (Tables)	Sep. 30, 2021
EARNINGS PER SHARE
Schedule of basic and diluted earnings per share	The following table presents earnings per common share. Three Months Ended September 30, 2021 2020 Net income available to common stockholders (in thousands) $ 12,259 $ 11,893 Average number of common shares outstanding 54,021,542 58,375,742 Less: Average unallocated ESOP shares and non-vested restricted shares (4,220,419) (3,910,403) Weighted average number of common shares outstanding used to calculate basic earnings per common share 49,801,123 54,465,339 Dilutive effect of share-based compensation 862,292 — Weighted average number of common shares outstanding used to calculate diluted earnings per common share 50,663,415 54,465,339 Earnings per common share: Basic $ 0.25 $ 0.22 Diluted $ 0.24 $ 0.22

SEGMENT REPORTING (Tables)

SEGMENT REPORTING (Tables)	9 Months Ended
SEGMENT REPORTING (Tables)	Sep. 30, 2021
SEGMENT REPORTING
Summary of reportable segments	Three Months Ended September 30, 2021 HarborOne HarborOne HarborOne Bank Mortgage Bancorp, Inc. Eliminations Consolidated (in thousands) Net interest and dividend income (expense) $ 32,494 $ 792 $ (483) $ — $ 32,803 Provision (credit) for loan losses (1,627) — — — (1,627) Net interest and dividend income (loss), after provision (credit) for loan losses 34,121 792 (483) — 34,430 Mortgage banking income: Gain on sale of mortgage loans — 12,756 — — 12,756 Intersegment gain (loss) (1,373) 2,366 — (993) — Changes in mortgage servicing rights fair value (74) (918) — — (992) Other 263 3,619 — — 3,882 Total mortgage banking income (loss) (1,184) 17,823 — (993) 15,646 Other noninterest income 6,339 25 — — 6,364 Total noninterest income 5,155 17,848 — (993) 22,010 Noninterest expense 26,570 12,387 317 — 39,274 Income (loss) before income taxes 12,706 6,253 (800) (993) 17,166 Provision (benefit) for income taxes 3,575 1,559 (227) — 4,907 Net income (loss) $ 9,131 $ 4,694 $ (573) $ (993) $ 12,259 Nine Months Ended September 30, 2021 HarborOne HarborOne HarborOne Bank Mortgage Bancorp, Inc. Eliminations Consolidated (in thousands) Net interest and dividend income (expense) $ 95,876 $ 2,897 $ (1,388) $ — $ 97,385 Provision (credit) for loan losses (5,822) — — — (5,822) Net interest and dividend income (loss), after provision (credit) for loan losses 101,698 2,897 (1,388) — 103,207 Mortgage banking income: Gain on sale of mortgage loans — 51,820 — — 51,820 Intersegment gain (loss) (2,945) 3,938 — (993) — Changes in mortgage servicing rights fair value (207) 72 — — (135) Other 839 11,633 — — 12,472 Total mortgage banking income (loss) (2,313) 67,463 — (993) 64,157 Other noninterest income 17,328 37 — — 17,365 Total noninterest income 15,015 67,500 — (993) 81,522 Noninterest expense 75,161 44,545 968 — 120,674 Income (loss) before income taxes 41,552 25,852 (2,356) (993) 64,055 Provision (benefit) for income taxes 11,873 6,905 (650) — 18,128 Net income (loss) $ 29,679 $ 18,947 $ (1,706) $ (993) $ 45,927 Total assets at period end $ 4,575,798 $ 208,888 $ 717,325 $ (934,917) $ 4,567,094 Goodwill at period end $ 59,042 $ 10,760 $ — $ — $ 69,802 Three Months Ended September 30, 2020 HarborOne HarborOne HarborOne Bank Mortgage Bancorp, Inc. Eliminations Consolidated (in thousands) Net interest and dividend income (expense) $ 30,599 $ 1,000 $ (430) $ — $ 31,169 Provision for loan losses 13,454 — — — 13,454 Net interest and dividend income (loss), after provision for loan losses 17,145 1,000 (430) — 17,715 Mortgage banking income: Gain on sale of mortgage loans — 34,055 — — 34,055 Intersegment gain (loss) (645) 645 — — — Changes in mortgage servicing rights fair value (354) 161 — — (193) Other 334 3,924 — — 4,258 Total mortgage banking income (loss) (665) 38,785 — — 38,120 Other noninterest income (loss) 6,326 (8) — — 6,318 Total noninterest income 5,661 38,777 — — 44,438 Noninterest expense 26,300 19,133 266 — 45,699 Income (loss) before income taxes (3,494) 20,644 (696) — 16,454 Provision (benefit) for income taxes 571 4,550 (560) — 4,561 Net income (loss) $ (4,065) $ 16,094 $ (136) $ — $ 11,893 Nine Months Ended September 30, 2020 HarborOne HarborOne HarborOne Bank Mortgage Bancorp Inc. Eliminations Consolidated (in thousands) Net interest and dividend income (expense) $ 86,248 $ 2,020 $ (952) $ — $ 87,316 Provision for loan losses 27,207 — — — 27,207 Net interest and dividend income (loss), after provision for loan losses 59,041 2,020 (952) — 60,109 Mortgage banking income: Gain on sale of mortgage loans — 77,195 — — 77,195 Intersegment gain (loss) (2,444) 2,444 — — — Changes in mortgage servicing rights fair value (2,014) (3,677) — — (5,691) Other 1,031 9,619 — — 10,650 Total mortgage banking income (loss) (3,427) 85,581 — — 82,154 Other noninterest income (loss) 19,640 (141) — — 19,499 Total noninterest income 16,213 85,440 — — 101,653 Noninterest expense 75,806 47,923 907 — 124,636 Income (loss) before income taxes (552) 39,537 (1,859) — 37,126 Provision (benefit) for income taxes 2,199 8,667 (932) — 9,934 Net income (loss) $ (2,751) $ 30,870 $ (927) $ — $ 27,192 Total assets at period end $ 4,404,842 $ 280,983 $ 729,838 $ (987,344) $ 4,428,319 Goodwill at period end $ 59,042 $ 10,760 $ — $ — $ 69,802

SUMMARY OF SIGNIFICANT ACCOUN_3

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) $ in Thousands	9 Months Ended
	Sep. 30, 2021USD ($)itemOfficestate	Dec. 31, 2020USD ($)
Number of full-service bank offices \| item	27
Operating lease ROU assets	$ 25,200
Operating lease liabilities	26,806
Finance lease ROU assets	0
Finance lease liabilities	0
Loans in active deferral period	7,900
Loans in expired deferral period	1,500
PPP loans	54,300
Deferred processing fee income	$ 2,100
HarborOne Mortgage
Number of offices \| Office	30
Additional states licensed to lend \| state	6
Cumulative Effect, Period of Adoption, Adjustment \| ASU 2016-02
Operating lease ROU assets		$ 23,200
Operating lease liabilities		$ 24,400
HarborOne Bank
Number of security corporation subsidiaries \| item	2

DEBT SECURITIES - Gross unreali

DEBT SECURITIES - Gross unrealized gains and losses (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Securities available for sale
Amortized Cost	$ 392,317	$ 272,396
Gross Unrealized Gains	1,644	4,407
Gross Unrealized Losses	3,409	305
Fair Value	390,552	276,498
U.S. government and government-sponsored enterprise obligations
Securities available for sale
Amortized Cost	38,155	5,002
Gross Unrealized Gains		93
Gross Unrealized Losses	426
Fair Value	37,729	5,095
U.S. government agency and government-sponsored residential mortgage-backed securities
Securities available for sale
Amortized Cost	345,737	234,819
Gross Unrealized Gains	1,355	3,113
Gross Unrealized Losses	2,983	305
Fair Value	344,109	237,627
U.S. government-sponsored collateralized mortgage obligations
Securities available for sale
Amortized Cost	4,543	16,326
Gross Unrealized Gains	152	330
Fair Value	4,695	16,656
SBA asset-backed securities
Securities available for sale
Amortized Cost	3,882	16,249
Gross Unrealized Gains	137	871
Fair Value	$ 4,019	$ 17,120

DEBT SECURITIES - Contractual m

DEBT SECURITIES - Contractual maturity (Details)	1 Months Ended	3 Months Ended		9 Months Ended
DEBT SECURITIES - Contractual maturity (Details)	Feb. 29, 2020USD ($)security	Sep. 30, 2021USD ($)security	Sep. 30, 2020USD ($)	Sep. 30, 2021USD ($)security	Sep. 30, 2020USD ($)	Dec. 31, 2020USD ($)security
Amortized Cost-Available-for-Sale
After 5 years through 10 years		$ 38,155,000		$ 38,155,000
Total for contractual maturity		38,155,000		38,155,000
Amortized Cost		392,317,000		392,317,000		$ 272,396,000
Fair Value-Available-for-Sale
After 5 years through 10 years		37,729,000		37,729,000
Total for contractual maturity		37,729,000		37,729,000
Total		390,552,000		390,552,000		$ 276,498,000
Sales
Proceeds		39,321,000		39,321,000	$ 72,333,000
Gross gains		241,000		241,000	2,521,000
Calls
Proceeds		$ 5,000,000	$ 2,000,000	$ 5,000,000	8,635,000
Gross gains					$ 12,000
Number of holdings greater than 10% of shareholder equity \| security				0
HTM securities
Securities
Number of securities sold \| security	6
Sold HTM securities
Securities
Realized gain	$ 357,000
Amortized Cost-Held-to-Maturity
Amortized Cost	4,500,000
Transferred securities
Securities
Transfer amount	21,500,000
Fair Value-Available-for-Sale
Total	22,100,000
Amortized Cost-Held-to-Maturity
Gross Unrealized Gains	$ 522,000
Interest rate swaps \| Mortgage-backed securities
Securities
Number of securities pledged \| security		16		16		26
Pledged as collateral		$ 20,500,000		$ 20,500,000		$ 40,300,000
Minimum
Securities
Maturity period				6 months
Maximum
Securities
Maturity period				30 years
U.S. government agency and government-sponsored residential mortgage-backed securities
Amortized Cost-Available-for-Sale
No single maturity date		345,737,000		$ 345,737,000
Amortized Cost		345,737,000		345,737,000		234,819,000
Fair Value-Available-for-Sale
No single maturity date		344,109,000		344,109,000
Total		344,109,000		344,109,000		237,627,000
U.S. government-sponsored collateralized mortgage obligations
Amortized Cost-Available-for-Sale
No single maturity date		4,543,000		4,543,000
Amortized Cost		4,543,000		4,543,000		16,326,000
Fair Value-Available-for-Sale
No single maturity date		4,695,000		4,695,000
Total		4,695,000		4,695,000		16,656,000
SBA asset-backed securities
Amortized Cost-Available-for-Sale
No single maturity date		3,882,000		3,882,000
Amortized Cost		3,882,000		3,882,000		16,249,000
Fair Value-Available-for-Sale
No single maturity date		4,019,000		4,019,000
Total		4,019,000		$ 4,019,000		17,120,000
U.S. government and government-sponsored enterprise obligations
Securities
Maturity period				10 years
Amortized Cost-Available-for-Sale
Amortized Cost		38,155,000		$ 38,155,000		5,002,000
Fair Value-Available-for-Sale
Total		$ 37,729,000		$ 37,729,000		$ 5,095,000
U.S. government and government-sponsored enterprise obligations \| Minimum
Securities
Callable period				5 months
U.S. government and government-sponsored enterprise obligations \| Maximum
Securities
Callable period				2 years

DEBT SECURITIES - Gross unrea_2

DEBT SECURITIES - Gross unrealized losses aggregated by category (Details) $ in Thousands	9 Months Ended
	Sep. 30, 2021USD ($)security	Dec. 31, 2020USD ($)
Continuous unrealized losses, Gross Unrealized Losses, Available-for-Sale
Less than Twelve Months	$ 3,197
Twelve Months and Over	212
Continuous unrealized losses, Fair Value, Available-for-Sale
Less Than Twelve Months	299,615
Twelve Months and Over	$ 19,759
Number of debt securities \| security	118
Number of debt securities in unrealized loss position \| security	63
U.S. government agency and government-sponsored residential mortgage-backed securities
Continuous unrealized losses, Gross Unrealized Losses, Available-for-Sale
Less than Twelve Months	$ 2,771	$ 283
Twelve Months and Over	212	22
Continuous unrealized losses, Fair Value, Available-for-Sale
Less Than Twelve Months	261,886	67,460
Twelve Months and Over	19,759	$ 3,668
U.S. government and government-sponsored enterprise obligations
Continuous unrealized losses, Gross Unrealized Losses, Available-for-Sale
Less than Twelve Months	426
Continuous unrealized losses, Fair Value, Available-for-Sale
Less Than Twelve Months	$ 37,729

LOANS HELD FOR SALE (Details)

LOANS HELD FOR SALE (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
LOANS HELD FOR SALE (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020	Dec. 31, 2020
Fair value and contractual principal outstanding:
Loans held for sale, fair value	$ 77,052		$ 77,052		$ 208,612
Loans held for sale, contractual principal outstanding	75,009		75,009		198,984
Fair value less unpaid principal balance	2,043		2,043		9,628
Change in fair value of mortgage loans held for sale			(7,600)	$ 5,500
Underwriting fees	2,000	$ 3,000	7,000	$ 7,500
90 Days or More
Fair value and contractual principal outstanding:
Loans held for sale, fair value	$ 0		$ 0		$ 0

LOANS - Summary of Balances of

LOANS - Summary of Balances of Loans (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Jun. 30, 2021	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Dec. 31, 2019
Loans
Total loans	$ 3,457,744		$ 3,494,642
Less: Allowance for loan losses	(47,988)	$ (51,273)	(55,395)	$ (49,223)	$ (36,107)	$ (24,060)
Net loans	3,409,756		3,439,247
PPP loans \| Commercial and industrial
Loans
Net deferred loan costs	2,100		2,700
Loans before fees	54,300		126,500
Residential
Loans
Total loans	1,160,689		1,105,823
Less: Allowance for loan losses	(3,433)	(5,434)	(7,419)	(7,600)	(5,857)	(3,178)
Residential \| 1-4 family
Loans
Total loans	993,725		928,934
Residential \| Second mortgages and equity lines of credit
Loans
Total loans	135,147		145,672
Residential \| Residential real estate construction
Loans
Total loans	31,817		31,217
Commercial
Loans
Total loans	2,140,783		2,114,989
Commercial \| Commercial real estate
Loans
Total loans	1,573,284		1,551,265
Less: Allowance for loan losses	(34,670)	(32,991)	(34,765)	(26,098)	(18,389)	(12,875)
Commercial \| Commercial construction
Loans
Total loans	152,685		99,331
Less: Allowance for loan losses	(2,552)	(1,937)	(1,955)	(4,177)	(3,215)	(2,526)
Commercial \| Commercial and industrial
Loans
Total loans	414,814		464,393
Less: Allowance for loan losses	(5,985)	(8,059)	(5,311)	(4,966)	(3,562)	(2,977)
Consumer loans
Loans
Total loans	156,272		273,830
Less: Allowance for loan losses	(348)	$ (853)	(2,475)	$ (2,762)	$ (2,204)	$ (1,010)
Consumer loans \| Auto
Loans
Total loans	149,019		265,266
Consumer loans \| Personal
Loans
Total loans	$ 7,253		$ 8,564

LOANS - Loans Sold or Transferr

LOANS - Loans Sold or Transferred (Details) - USD ($) $ in Millions	Sep. 30, 2021	Dec. 31, 2020
Commercial real estate
Loans
Unpaid principal balance of loans serviced for others	$ 297	$ 284.2

LOANS - Acquired Loans (Details

LOANS - Acquired Loans (Details) - PCI - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020	Oct. 31, 2018
Loans
Outstanding balance	$ 3,701	$ 4,307
Carrying amount	$ 3,485	$ 4,079
Coastway
Loans
Loans purchased			$ 5,400

LOANS - PCI Loans (Details)

LOANS - PCI Loans (Details) - PCI - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
LOANS - PCI Loans (Details) - PCI - USD ($) $ in Thousands	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Accretable yield:
Balance at beginning of period	$ 136	$ 145	$ 141	$ 149
Accretion	(1)	(3)	(6)	(7)
Balance at end of period	$ 135	$ 142	$ 135	$ 142

LOANS - Allowance for Loan Loss

LOANS - Allowance for Loan Losses Activity and Allocation to Loan Segments (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020	Dec. 31, 2020
Activity in the allowance for loan losses
Balance	$ 51,273	$ 36,107	$ 55,395	$ 24,060
Provision (credit) for loan losses	(1,627)	13,454	(5,822)	27,207
Charge-offs	(1,719)	(415)	(2,003)	(2,597)
Recoveries	61	77	418	553
Balance	47,988	49,223	47,988	49,223
Allocation of the allowance to loan segments
Total loans	3,457,744		3,457,744		$ 3,494,642
Total allowance for loan losses	47,988	49,223	47,988	49,223	55,395
Impaired loans
Activity in the allowance for loan losses
Balance			2,678
Balance	8,971		8,971
Allocation of the allowance to loan segments
Total loans	51,309		51,309		46,256
Total allowance for loan losses	8,971		8,971		2,678
Non-impaired loans
Activity in the allowance for loan losses
Balance			52,717
Balance	39,017		39,017
Allocation of the allowance to loan segments
Total loans	3,406,435		3,406,435		3,448,386
Total allowance for loan losses	39,017		39,017		52,717
Residential
Activity in the allowance for loan losses
Balance	5,434	5,857	7,419	3,178
Provision (credit) for loan losses	(2,009)	1,721	(4,214)	4,270
Charge-offs				(52)
Recoveries	8	22	228	204
Balance	3,433	7,600	3,433	7,600
Allocation of the allowance to loan segments
Total loans	1,160,689		1,160,689		1,105,823
Total allowance for loan losses	3,433	7,600	3,433	7,600	7,419
Residential \| Impaired loans
Activity in the allowance for loan losses
Balance			802
Balance	662		662
Allocation of the allowance to loan segments
Total loans	26,971		26,971		24,384
Total allowance for loan losses	662		662		802
Residential \| Non-impaired loans
Activity in the allowance for loan losses
Balance			6,617
Balance	2,771		2,771
Allocation of the allowance to loan segments
Total loans	1,133,718		1,133,718		1,081,439
Total allowance for loan losses	2,771		2,771		6,617
Commercial
Allocation of the allowance to loan segments
Total loans	2,140,783		2,140,783		2,114,989
Commercial \| Commercial real estate
Activity in the allowance for loan losses
Balance	32,991	18,389	34,765	12,875
Provision (credit) for loan losses	2,059	7,771	293	14,458
Charge-offs	(381)	(62)	(393)	(1,236)
Recoveries	1		5	1
Balance	34,670	26,098	34,670	26,098
Allocation of the allowance to loan segments
Total loans	1,573,284		1,573,284		1,551,265
Total allowance for loan losses	34,670	26,098	34,670	26,098	34,765
Commercial \| Commercial real estate \| Impaired loans
Activity in the allowance for loan losses
Balance			1,845
Balance	6,969		6,969
Allocation of the allowance to loan segments
Total loans	18,155		18,155		12,513
Total allowance for loan losses	6,969		6,969		1,845
Commercial \| Commercial real estate \| Non-impaired loans
Activity in the allowance for loan losses
Balance			32,920
Balance	27,701		27,701
Allocation of the allowance to loan segments
Total loans	1,555,129		1,555,129		1,538,752
Total allowance for loan losses	27,701		27,701		32,920
Commercial \| Commercial construction
Activity in the allowance for loan losses
Balance	1,937	3,215	1,955	2,526
Provision (credit) for loan losses	615	962	597	1,651
Balance	2,552	4,177	2,552	4,177
Allocation of the allowance to loan segments
Total loans	152,685		152,685		99,331
Total allowance for loan losses	2,552	4,177	2,552	4,177	1,955
Commercial \| Commercial construction \| Non-impaired loans
Activity in the allowance for loan losses
Balance			1,955
Balance	2,552		2,552
Allocation of the allowance to loan segments
Total loans	152,685		152,685		99,331
Total allowance for loan losses	2,552		2,552		1,955
Commercial \| Commercial and industrial
Activity in the allowance for loan losses
Balance	8,059	3,562	5,311	2,977
Provision (credit) for loan losses	(815)	1,617	2,101	2,560
Charge-offs	(1,277)	(213)	(1,463)	(790)
Recoveries	18		36	219
Balance	5,985	4,966	5,985	4,966
Allocation of the allowance to loan segments
Total loans	414,814		414,814		464,393
Total allowance for loan losses	5,985	4,966	5,985	4,966	5,311
Commercial \| Commercial and industrial \| Impaired loans
Activity in the allowance for loan losses
Balance			31
Balance	1,340		1,340
Allocation of the allowance to loan segments
Total loans	6,183		6,183		9,359
Total allowance for loan losses	1,340		1,340		31
Commercial \| Commercial and industrial \| Non-impaired loans
Activity in the allowance for loan losses
Balance			5,280
Balance	4,645		4,645
Allocation of the allowance to loan segments
Total loans	408,631		408,631		455,034
Total allowance for loan losses	4,645		4,645		5,280
Consumer loans
Activity in the allowance for loan losses
Balance	853	2,204	2,475	1,010
Provision (credit) for loan losses	(478)	643	(2,129)	2,142
Charge-offs	(61)	(140)	(147)	(519)
Recoveries	34	55	149	129
Balance	348	2,762	348	2,762
Allocation of the allowance to loan segments
Total loans	156,272		156,272		273,830
Total allowance for loan losses	348	2,762	348	2,762	2,475
Consumer loans \| Non-impaired loans
Activity in the allowance for loan losses
Balance			2,475
Balance	348		348
Allocation of the allowance to loan segments
Total loans	156,272		156,272		273,830
Total allowance for loan losses	348		348		2,475
Unallocated
Activity in the allowance for loan losses
Balance	1,999	2,880	3,470	1,494
Provision (credit) for loan losses	(999)	740	(2,470)	2,126
Balance	1,000	3,620	1,000	3,620
Allocation of the allowance to loan segments
Total allowance for loan losses	1,000	$ 3,620	1,000	$ 3,620	3,470
Unallocated \| Non-impaired loans
Activity in the allowance for loan losses
Balance			3,470
Balance	1,000		1,000
Allocation of the allowance to loan segments
Total allowance for loan losses	$ 1,000		$ 1,000		$ 3,470

LOANS - Summary of Past Due and

LOANS - Summary of Past Due and Non-Accrual Loans (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Summary of past due and non-accrual loans
Past Due	$ 20,255	$ 30,505
Loans on Non-accrual	36,486	34,101
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	10,449	15,684
60 to 89 Days
Summary of past due and non-accrual loans
Past Due	1,979	2,868
90 Days or More
Summary of past due and non-accrual loans
Past Due	7,827	11,953
Residential \| 1-4 family
Summary of past due and non-accrual loans
Past Due	5,882	20,789
Loans on Non-accrual	11,754	11,611
Residential \| 1-4 family \| 30 to 59 Days
Summary of past due and non-accrual loans
Past Due	778	12,148
Residential \| 1-4 family \| 60 to 89 Days
Summary of past due and non-accrual loans
Past Due	1,646	2,223
Residential \| 1-4 family \| 90 Days or More
Summary of past due and non-accrual loans
Past Due	3,458	6,418
Residential \| Second mortgages and equity lines of credit
Summary of past due and non-accrual loans
Past Due	669	939
Loans on Non-accrual	437	834
Residential \| Second mortgages and equity lines of credit \| 30 to 59 Days
Summary of past due and non-accrual loans
Past Due	203	460
Residential \| Second mortgages and equity lines of credit \| 60 to 89 Days
Summary of past due and non-accrual loans
Past Due	203	46
Residential \| Second mortgages and equity lines of credit \| 90 Days or More
Summary of past due and non-accrual loans
Past Due	263	433
Residential \| Residential real estate
Summary of past due and non-accrual loans
Past Due		471
Residential \| Residential real estate \| 30 to 59 Days
Summary of past due and non-accrual loans
Past Due		471
Commercial \| Commercial real estate
Summary of past due and non-accrual loans
Past Due	9,181	3,785
Loans on Non-accrual	18,000	12,486
Commercial \| Commercial real estate \| 30 to 59 Days
Summary of past due and non-accrual loans
Past Due	8,843	416
Commercial \| Commercial real estate \| 90 Days or More
Summary of past due and non-accrual loans
Past Due	338	3,369
Commercial \| Commercial and industrial
Summary of past due and non-accrual loans
Past Due	3,723	1,878
Loans on Non-accrual	6,183	8,606
Commercial \| Commercial and industrial \| 30 to 59 Days
Summary of past due and non-accrual loans
Past Due	37	444
Commercial \| Commercial and industrial \| 60 to 89 Days
Summary of past due and non-accrual loans
Past Due	3	191
Commercial \| Commercial and industrial \| 90 Days or More
Summary of past due and non-accrual loans
Past Due	3,683	1,243
Consumer loans \| Auto
Summary of past due and non-accrual loans
Past Due	726	2,542
Loans on Non-accrual	111	557
Consumer loans \| Auto \| 30 to 59 Days
Summary of past due and non-accrual loans
Past Due	533	1,657
Consumer loans \| Auto \| 60 to 89 Days
Summary of past due and non-accrual loans
Past Due	109	397
Consumer loans \| Auto \| 90 Days or More
Summary of past due and non-accrual loans
Past Due	84	488
Consumer loans \| Personal
Summary of past due and non-accrual loans
Past Due	74	101
Loans on Non-accrual	1	7
Consumer loans \| Personal \| 30 to 59 Days
Summary of past due and non-accrual loans
Past Due	55	88
Consumer loans \| Personal \| 60 to 89 Days
Summary of past due and non-accrual loans
Past Due	18	11
Consumer loans \| Personal \| 90 Days or More
Summary of past due and non-accrual loans
Past Due	$ 1	$ 2

LOANS - Impaired Loans (Details

LOANS - Impaired Loans (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
LOANS - Impaired Loans (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020	Dec. 31, 2020
Recorded Investment
Impaired loans without a valuation allowance	$ 19,401		$ 19,401		$ 25,079
Impaired loans with a valuation allowance	31,908		31,908		21,177
Total impaired loans	51,309		51,309		46,256
Unpaid Principal Balance
Impaired loans without a valuation allowance	23,008		23,008		29,384
Impaired loans with a valuation allowance	40,837		40,837		21,497
Total impaired loans	63,845		63,845		50,881
Activity in the allowance for loan losses
Allowance for loan losses for impaired loans	8,971		8,971		2,678
Impaired loans
Average Recorded Investment	42,557	$ 52,134	45,669	$ 48,558
Interest Income Recognized	352	281	1,096	864
Interest Income Recognized on Cash Basis	194	279	554	805
Additional funds committed to be advanced in connection with impaired loans	0	0	0	0
Residential
Recorded Investment
Impaired loans without a valuation allowance	17,445		17,445		12,284
Impaired loans with a valuation allowance	9,526		9,526		12,100
Unpaid Principal Balance
Impaired loans without a valuation allowance	18,922		18,922		13,039
Impaired loans with a valuation allowance	10,324		10,324		12,355
Activity in the allowance for loan losses
Allowance for loan losses for impaired loans	662		662		802
Impaired loans
Average Recorded Investment	22,268	26,542	23,973	26,454
Interest Income Recognized	279	272	822	847
Interest Income Recognized on Cash Basis	121	270	280	788
Commercial \| Commercial real estate
Recorded Investment
Impaired loans without a valuation allowance	493		493		3,552
Impaired loans with a valuation allowance	17,662		17,662		8,961
Unpaid Principal Balance
Impaired loans without a valuation allowance	495		495		4,741
Impaired loans with a valuation allowance	24,888		24,888		8,961
Activity in the allowance for loan losses
Allowance for loan losses for impaired loans	6,969		6,969		1,845
Impaired loans
Average Recorded Investment	12,455	4,287	13,894	3,202
Interest Income Recognized	60		125	1
Interest Income Recognized on Cash Basis	60		125	1
Commercial \| Commercial construction
Impaired loans
Average Recorded Investment		10,971		11,039
Commercial \| Commercial and industrial
Recorded Investment
Impaired loans without a valuation allowance	1,463		1,463		9,243
Impaired loans with a valuation allowance	4,720		4,720		116
Unpaid Principal Balance
Impaired loans without a valuation allowance	3,591		3,591		11,604
Impaired loans with a valuation allowance	5,625		5,625		181
Activity in the allowance for loan losses
Allowance for loan losses for impaired loans	1,340		1,340		$ 31
Impaired loans
Average Recorded Investment	7,834	10,334	7,802	7,863
Interest Income Recognized	13	9	149	16
Interest Income Recognized on Cash Basis	$ 13	$ 9	$ 149	$ 16

LOANS - Troubled Debt Restructu

LOANS - Troubled Debt Restructurings (Details) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021USD ($)contract	Sep. 30, 2020USD ($)contract	Sep. 30, 2021USD ($)contract	Sep. 30, 2020contract	Dec. 31, 2020USD ($)
Troubled debt restructurings
TDR modifications	$ 0	$ 0
Recorded investment of troubled debt restructurings	13,200		$ 13,200		$ 15,100
Recorded investment of troubled debt restructurings that were nonaccruing	$ 3,000		$ 3,000		3,600
Number of troubled debt restructurings that defaulted \| contract	0	0	0	0
Loans, net	$ 3,409,756		$ 3,409,756		3,439,247
Commercial
Troubled debt restructurings
Recorded investment of troubled debt restructurings	2,300		2,300		2,500
Recorded investment of troubled debt restructurings that were nonaccruing	$ 2,100		$ 2,100		$ 2,500

LOANS - Risk Rating (Details)

LOANS - Risk Rating (Details) $ in Thousands	9 Months Ended
LOANS - Risk Rating (Details) $ in Thousands	Sep. 30, 2021USD ($)grade	Dec. 31, 2020USD ($)
Loans by risk rating
Number of grades utilized in internal loan rating system \| grade	10
Total loans	$ 3,457,744	$ 3,494,642
Commercial
Loans by risk rating
Total loans	2,140,783	2,114,989
Commercial \| Commercial real estate
Loans by risk rating
Total loans	1,573,284	1,551,265
Commercial \| Commercial real estate \| Loans rated 1 - 6, pass
Loans by risk rating
Total loans	1,530,051	1,524,105
Commercial \| Commercial real estate \| Loans rated 7, special mention
Loans by risk rating
Total loans	25,078	14,674
Commercial \| Commercial real estate \| Loans rated 8, substandard
Loans by risk rating
Total loans	18,155	9,455
Commercial \| Commercial real estate \| Loans rated 9, doubtful
Loans by risk rating
Total loans		3,031
Commercial \| Commercial construction
Loans by risk rating
Total loans	152,685	99,331
Commercial \| Commercial construction \| Loans rated 1 - 6, pass
Loans by risk rating
Total loans	152,685	99,331
Commercial \| Commercial and industrial
Loans by risk rating
Total loans	414,814	464,393
Commercial \| Commercial and industrial \| Loans rated 1 - 6, pass
Loans by risk rating
Total loans	408,277	452,665
Commercial \| Commercial and industrial \| Loans rated 7, special mention
Loans by risk rating
Total loans	354	3,122
Commercial \| Commercial and industrial \| Loans rated 8, substandard
Loans by risk rating
Total loans	438	7,080
Commercial \| Commercial and industrial \| Loans rated 9, doubtful
Loans by risk rating
Total loans	$ 5,745	$ 1,526

MORTGAGE LOAN SERVICING - Key A

MORTGAGE LOAN SERVICING - Key Assumptions (Details) - USD ($) $ in Millions	9 Months Ended	12 Months Ended
	Sep. 30, 2021	Dec. 31, 2020
Unpaid Principal Balance
Unpaid principal balances of mortgage loans serviced	$ 3,630	$ 3,050
Prepayment speed	10.20%	14.30%
Discount rate	9.21%	9.23%
Default rate	1.78%	2.27%

MORTGAGE LOAN SERVICING - Fair

MORTGAGE LOAN SERVICING - Fair value of MSR (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Changes to the fair value of Mortgage Servicing Rights
Mortgage servicing rights, at fair value, beginning of period	$ 35,955	$ 16,127	$ 24,833	$ 17,150
Additions	1,577	4,225	11,842	8,700
Changes in fair value due to :
Reductions from loans paid off during the period	(1,613)	(1,083)	(4,713)	(2,773)
Changes in valuation inputs or assumptions	621	890	4,578	(2,918)
Mortgage servicing rights, at fair value, end of period	36,540	20,159	36,540	20,159
Fees and commissions, mortgage banking and servicing	$ 2,000	$ 1,300	$ 5,500	$ 3,300

GOODWILL AND INTANGIBLE ASSETS

GOODWILL AND INTANGIBLE ASSETS (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020	Sep. 30, 2020
GOODWILL AND INTANGIBLE ASSETS
Goodwill	$ 69,802	$ 69,802	$ 69,802
Intangible assets	3,399	$ 4,370
HarborOne Bank
GOODWILL AND INTANGIBLE ASSETS
Goodwill	59,000
HarborOne Mortgage
GOODWILL AND INTANGIBLE ASSETS
Goodwill	$ 10,800

DEPOSITS - Summary of deposits

DEPOSITS - Summary of deposits (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
DEPOSITS
NOW and demand deposit accounts	$ 1,057,494	$ 908,256
Regular savings and club accounts	1,144,595	998,994
Money market deposit accounts	832,441	866,661
Total non-certificate accounts	3,034,530	2,773,911
Term certificate accounts greater than $250,000	116,427	135,190
Term certificate accounts less than or equal to $250,000	443,423	497,108
Brokered deposits	100,000	100,000
Total certificate deposits, net	659,850	732,298
Total deposits	3,694,380	3,506,209
Total reciprocal deposits	$ 42,300	$ 104,900

DEPOSITS - Maturity of deposits

DEPOSITS - Maturity of deposits (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2021	Dec. 31, 2020
Summary of certificate accounts by maturity
Within 1 year	$ 571,378
Over 1 year to 2 years	54,430
Over 2 years to 3 years	8,381
Over 3 years to 4 years	23,100
Over 4 years to 5 years	2,823
Total certificate deposits	660,112
Less unaccreted acquisition discount	(262)
Total certificate deposits, net	$ 659,850	$ 732,298
Summary of certificate accounts by maturity
Within 1 year	0.51%
Over 1 year to 2 years	0.78%
Over 2 years to 3 years	1.05%
Over 3 years to 4 years	0.96%
Over 4 years to 5 years	0.74%
Weighted average interest rate	0.56%

BORROWED FUNDS - FHLB Advances

BORROWED FUNDS - FHLB Advances (Details) $ in Thousands	Sep. 30, 2021USD ($)	Dec. 31, 2020USD ($)
Short-term borrowed funds	$ 0	$ 35,000
Scheduled Maturity
2021		41,750
2022	0	0
2023	186	20,190
2024	13,400	10,000
2025	40,987	40,987
2026 and thereafter	1,147	1,170
Total	55,720	114,097
Redeemable at Call Date
2021	40,000	101,750
2023	186	190
2024	13,400	10,000
2025	987	987
2026 and thereafter	1,147	1,170
Total	$ 55,720	$ 114,097
Weighted Average Rate
2021		2.47%
2023	1.48%	3.48%
2024	1.39%	1.68%
2025	1.32%	1.32%
2026 and thereafter	2.00%	2.00%
Total	1.35%	2.16%
Weighted Average Rate
Short-term advances, weighted average rate		0.42

BORROWED FUNDS - Others (Detail

BORROWED FUNDS - Others (Details) - USD ($)	Sep. 01, 2023	Sep. 30, 2021	Sep. 30, 2021	Dec. 31, 2020	Aug. 30, 2018
Borrowed funds
Prepayment on FHLB borrowings		$ 20,000,000
Prepayment penalties on Federal Home Loan Bank advances		1,095,000	$ 1,095,000
Amount outstanding		0	$ 0	$ 0
Federal Reserve Bank of Boston
Borrowed funds
Percentage of carrying value pledged as collateral			66.00%
Loans pledged for FHLB		103,600,000	$ 103,600,000	107,100,000
Federal Home Loan Bank Advances
Borrowed funds
Carrying value of the loans pledged as collateral		1,220,000,000	1,220,000,000	1,250,000,000
Available borrowing capacity		863,600,000	863,600,000
Other Loans
Borrowed funds
Additional borrowing capacity		25,000,000	25,000,000
Subordinated Notes due 2028
Borrowed funds
Notes issued					$ 35,000,000
Annual fixed interest rate until September 1, 2023					5.625%
Issuance costs		$ 872,000	$ 872,000	$ 967,000
Forecast \| Subordinated Notes due 2028 \| LIBOR
Borrowed funds
Basis points	2.78%

OTHER COMMITMENTS AND CONTING_3

OTHER COMMITMENTS AND CONTINGENCIES (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Commitments to grant residential real estate loans - HarborOne Mortgage
OTHER COMMITMENTS AND CONTINGENCIES
Financial instruments committed contract amount	$ 261,201	$ 485,428
Commitments to grant other loans
OTHER COMMITMENTS AND CONTINGENCIES
Financial instruments committed contract amount	93,132	53,714
Unadvanced funds on home equity lines of credit
OTHER COMMITMENTS AND CONTINGENCIES
Financial instruments committed contract amount	204,439	178,432
Unadvanced funds on revolving lines of credit
OTHER COMMITMENTS AND CONTINGENCIES
Financial instruments committed contract amount	205,074	169,907
Unadvanced funds on construction loans
OTHER COMMITMENTS AND CONTINGENCIES
Financial instruments committed contract amount	$ 148,000	$ 127,776

DERIVATIVES (Details)

DERIVATIVES (Details)	9 Months Ended
DERIVATIVES (Details)	Sep. 30, 2021USD ($)derivative	Dec. 31, 2020USD ($)
Other assets
Derivative disclosures
Fair Value, Assets	$ 26,895,000	$ 51,943,000
Other liabilities
Derivative disclosures
Fair Value, Liabilities	$ 22,578,000	43,272,000
Derivative loan commitments
Derivative disclosures
Loan commitment specified period	60 days
Derivative loan commitments \| Not designated as hedging instruments
Derivative disclosures
Notional Amount	$ 261,202,000	485,428,000
Derivative loan commitments \| Not designated as hedging instruments \| Other assets
Derivative disclosures
Fair Value, Assets	3,147,000	12,623,000
Derivative loan commitments \| Not designated as hedging instruments \| Other liabilities
Derivative disclosures
Fair Value, Liabilities	43,000	341,000
Forward loan sale commitments \| Not designated as hedging instruments
Derivative disclosures
Notional Amount	173,725,000	356,500,000
Forward loan sale commitments \| Not designated as hedging instruments \| Other assets
Derivative disclosures
Fair Value, Assets	884,000
Forward loan sale commitments \| Not designated as hedging instruments \| Other liabilities
Derivative disclosures
Fair Value, Liabilities	$ 29,000	2,204,000
Interest rate swaps \| Cash Flow Hedging
Derivative disclosures
Number of Derivative Instruments Held \| derivative	1
Maturity term	3 years 6 months 7 days
Fixed rate	0.67%
Variable rate	0.12%
Amount to be reclassified in next 12 months	$ 506,000
Notional Amount	100,000,000
Fair Value, Liabilities	358,000
Interest rate swaps \| Mortgage-backed securities
Derivative disclosures
Securities pledged to secure the Company's liability for the offsetting interest rate swaps	20,500,000
Interest rate swaps \| Designated as Hedging Instrument
Derivative disclosures
Notional Amount	100,000,000	100,000,000
Interest rate swaps \| Designated as Hedging Instrument \| Other assets
Derivative disclosures
Fair Value, Assets	358,000
Interest rate swaps \| Designated as Hedging Instrument \| Other liabilities
Derivative disclosures
Fair Value, Liabilities		1,407,000
Interest rate swaps \| Not designated as hedging instruments
Derivative disclosures
Notional Amount	764,430,000	867,728,000
Interest rate swaps \| Not designated as hedging instruments \| Other assets
Derivative disclosures
Fair Value, Assets	22,506,000	39,320,000
Interest rate swaps \| Not designated as hedging instruments \| Other liabilities
Derivative disclosures
Fair Value, Liabilities	22,506,000	39,320,000
Risk Participation Agreements \| Not designated as hedging instruments
Derivative disclosures
Notional Amount	$ 139,506,000	$ 132,379,000

DERIVATIVES - Net gain and loss

DERIVATIVES - Net gain and losses (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Derivative [Line Items]
Gain (loss) in OCI on derivatives (effective portion), net of tax	$ (1,947)	$ (1,121)	$ (3,303)	$ 296
Designated as Hedging Instrument
Derivative [Line Items]
Gain (loss) in OCI on derivatives (effective portion), net of tax	116	82	1,271	(1,187)
Loss reclassified from OCI into interest income or interest expense (effective portion)	(140)	(82)	(373)	67
Not designated as hedging instruments
Derivative [Line Items]
Total	(833)	5,493	(6,119)	13,191
Mortgage banking income \| Not designated as hedging instruments \| Derivative loan commitments
Derivative [Line Items]
Total	(1,897)	4,738	(9,178)	14,266
Mortgage banking income \| Not designated as hedging instruments \| Forward loan sale commitments
Derivative [Line Items]
Total	$ 1,064	$ 755	$ 3,059	$ (1,075)

OPERATING LEASE RIGHT-OF-USE _3

OPERATING LEASE RIGHT-OF-USE ASSETS AND LIABILITIES (Details) $ in Thousands	Sep. 30, 2021USD ($)
Operating lease ROU assets	$ 25,200
Operating Lease, Right-of-Use Asset, Statement of Financial Position [Extensible List]	Other Assets.
Operating lease liabilities	$ 26,806
Operating Lease, Liability, Statement of Financial Position [Extensible List]	Accrued Liabilities and Other Liabilities
Weighted-average remaining lease term (years)	17 years 2 months 12 days
Minimum
Lessee, Operating Lease, Remaining Lease Term	6 months
Maximum
Lessee, Operating Lease, Remaining Lease Term	36 years 4 months 24 days

OPERATING LEASE RIGHT-OF-USE _4

OPERATING LEASE RIGHT-OF-USE ASSETS AND LIABILITIES (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Lessee, Operating Lease, Liability, Payment, Due [Abstract]
2021	$ 737	$ 2,452
2022	2,898	2,239
2023	2,733	1,847
2024	2,247	1,644
2025	2,113	1,684
Thereafter	21,951	13,134
Total lease payments	32,679	$ 23,000
Imputed interest	(5,873)
Total present value of operating lease liabilities	$ 26,806

OPERATING LEASE RIGHT-OF-USE _5

OPERATING LEASE RIGHT-OF-USE ASSETS AND LIABILITIES - Weighted average discount and remaining lease term (Details)	Sep. 30, 2021
OPERATING LEASE RIGHT-OF-USE ASSETS AND LIABILITIES
Weighted-average discount rate	1.94%
Weighted-average remaining lease term (years)	17 years 2 months 12 days

OPERATING LEASE RIGHT-OF-USE _6

OPERATING LEASE RIGHT-OF-USE ASSETS AND LIABILITIES - Lease expense (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
OPERATING LEASE RIGHT-OF-USE ASSETS AND LIABILITIES
Operating lease expense	$ 742,000		$ 2,032,000
Short-term lease expense	52,000		122,000
Variable lease expense	2,000		21,000
Total lease expense	796,000	$ 701,000	2,175,000	$ 1,900,000
Other Information
Cash paid for amounts included in the measurement of lease liabilities-operating cash flows for operating leases	751,000		2,108,000
Operating Lease - Operating cash flows (Liability reduction)	624,000		1,745,000
Right-of-use assets obtained in exchange for new operating lease liabilities	$ 276,000		$ 27,267,000

STOCK-BASED COMPENSATION (Detai

STOCK-BASED COMPENSATION (Details) - USD ($)	3 Months Ended		9 Months Ended
STOCK-BASED COMPENSATION (Details) - USD ($)	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020	Sep. 29, 2020
STOCK-BASED COMPENSATION
Stock based compensation expense	$ 992,000	$ 617,000	$ 2,800,000	$ 3,100,000
2020 Equity Plan
STOCK-BASED COMPENSATION
Shares reserved for issuance					4,500,000
Stock Options
STOCK-BASED COMPENSATION
Term (years)			10 years
Minimum \| Stock Options
STOCK-BASED COMPENSATION
Vesting period (years)			1 year
Maximum \| Stock Options
STOCK-BASED COMPENSATION
Vesting period (years)			3 years

STOCK-BASED COMPENSATION - Stoc

STOCK-BASED COMPENSATION - Stock options (Details) - Stock Options	9 Months Ended
	Sep. 30, 2021USD ($)$ / sharesshares
Stock Option Awards
Balance at the beginning of the period \| shares	2,106,403
Exercised \| shares	(62,840)
Balance at the end of the period \| shares	2,043,563
Exercisable at end of the period \| shares	1,762,967
Unrecognized cost inclusive of directors' awards \| $	$ 251,116
Weighted average remaining recognition period (years)	5 months 15 days
Weighted Average Exercise Price
Balance at the beginning of the period \| $ / shares	$ 9.86
Exercised \| $ / shares	10.23
Balance at the end of the period \| $ / shares	9.85
Exercisable at end of the period \| $ / shares	$ 9.94
Weighted Average Remaining Contractual Term (years)
Weighted average remaining contractual term, balance (years)	6 years 5 months 26 days
Exercisable at end of the period	6 years 4 months 6 days
Stock Option Awards, Nonvested
Balance at the beginning of the period \| shares	473,445
Vested \| shares	(192,849)
Balance at the end of the period \| shares	280,596
Weighted Average Exercise Price, Nonvested
Balance at the beginning of the period \| $ / shares	$ 2.55
Vested \| $ / shares	2.51
Balance at the end of the period \| $ / shares	$ 2.59

STOCK-BASED COMPENSATION - Rest

STOCK-BASED COMPENSATION - Restricted Stock and Performance Restricted Stock Units (Details)	9 Months Ended
	Sep. 30, 2021USD ($)$ / sharesshares
Restricted Stock Awards
Outstanding Restricted Stock Awards
Non-vested stock awards, beginning balance \| shares	384,692
Vested \| shares	(15,464)
Granted \| shares	188,377
Forfeited \| shares	(3,000)
Non-vested stock awards, ending balance \| shares	554,605
Unrecognized cost inclusive of directors' awards \| $	$ 3,415,803
Weighted average remaining recognition period (years)	1 year 8 months 1 day
Weighted Average Grant Price
Non-vested stock awards, beginning balance \| $ / shares	$ 9.33
Vested \| $ / shares	10
Granted \| $ / shares	11.95
Forfeited \| $ / shares	9.24
Non-vested stock awards, ending balance \| $ / shares	$ 10.20
Performance Restricted Stock Units
Outstanding Restricted Stock Awards
Granted \| shares	85,066
Non-vested stock awards, ending balance \| shares	85,066
Unrecognized cost inclusive of directors' awards \| $	$ 818,235
Weighted average remaining recognition period (years)	2 years 5 months 1 day
Weighted Average Grant Price
Granted \| $ / shares	$ 11.95
Non-vested stock awards, ending balance \| $ / shares	$ 11.95

MINIMUM REGULATORY CAPITAL RE_3

MINIMUM REGULATORY CAPITAL REQUIREMENTS (Details) $ in Thousands	9 Months Ended
	Sep. 30, 2021USD ($)	Dec. 31, 2020USD ($)
Compliance with Regulatory Capital Requirements under Banking Regulations
Common equity Tier 1 capital conversation buffer ratio	0.025
Applicable capital conversation buffer ratio	0.025
Common equity Tier 1 to risk-weighted assets
Actual, Capital amount	$ 608,882	$ 621,153
Actual, Ratio	0.171	0.177
Minimum Requirement for Capital Adequacy Purposes	$ 160,129	$ 158,050
Minimum Requirement for Capital Adequacy Purposes, ratio	0.045	0.045
Tier 1 capital to risk weighted assets
Actual, Capital amount	$ 608,882	$ 621,153
Actual, Ratio	0.171	0.177
Minimum Requirement for Capital Adequacy Purposes	$ 213,505	$ 210,733
Minimum Requirement for Capital Adequacy Purposes, ratio	0.060	0.060
Total capital to risk-weighted assets
Actual, Capital amount	$ 688,405	$ 700,197
Actual, Ratio	0.193	0.199
Minimum Requirement for Capital Adequacy Purposes	$ 284,673	$ 280,978
Minimum Requirement for Capital Adequacy Purposes, ratio	0.080	0.080
Tier 1 capital to average assets
Actual, Capital amount	$ 608,882	$ 621,153
Actual, Ratio	0.135	0.145
Minimum Requirement for Capital Adequacy Purposes	$ 180,139	$ 171,578
Minimum Requirement for Capital Adequacy Purposes, ratio	0.040	0.040
HarborOne Bank
Common equity Tier 1 to risk-weighted assets
Actual, Capital amount	$ 559,819	$ 506,822
Actual, Ratio	0.157	0.144
Minimum Requirement for Capital Adequacy Purposes	$ 160,182	$ 158,081
Minimum Requirement for Capital Adequacy Purposes, ratio	0.045	0.045
Minimum Required to be Considered "Well Capitalized" Under Prompt Corrective Action Provisions	$ 231,374	$ 228,339
Minimum Required to be Considered "Well Capitalized" Under Prompt Corrective Action Provisions, ratio	0.065	0.065
Tier 1 capital to risk weighted assets
Actual, Capital amount	$ 559,819	$ 506,822
Actual, Ratio	0.157	0.144
Minimum Requirement for Capital Adequacy Purposes	$ 213,576	$ 210,775
Minimum Requirement for Capital Adequacy Purposes, ratio	0.060	0.060
Minimum Required to be Considered "Well Capitalized" Under Prompt Corrective Action Provisions	$ 284,768	$ 281,033
Minimum Required to be Considered "Well Capitalized" Under Prompt Corrective Action Provisions, ratio	0.080	0.080
Total capital to risk-weighted assets
Actual, Capital amount	$ 604,357	$ 550,875
Actual, Ratio	0.170	0.157
Minimum Requirement for Capital Adequacy Purposes	$ 284,768	$ 281,033
Minimum Requirement for Capital Adequacy Purposes, ratio	0.080	0.080
Minimum Required to be Considered "Well Capitalized" Under Prompt Corrective Action Provisions	$ 355,960	$ 351,291
Minimum Required to be Considered "Well Capitalized" Under Prompt Corrective Action Provisions, ratio	0.100	0.100
Tier 1 capital to average assets
Actual, Capital amount	$ 559,819	$ 506,822
Actual, Ratio	0.124	0.118
Minimum Requirement for Capital Adequacy Purposes	$ 180,113	$ 171,501
Minimum Requirement for Capital Adequacy Purposes, ratio	0.040	0.040
Minimum Required to be Considered "Well Capitalized" Under Prompt Corrective Action Provisions	$ 225,141	$ 214,377
Minimum Required to be Considered "Well Capitalized" Under Prompt Corrective Action Provisions, ratio	0.050	0.050

COMPREHENSIVE INCOME (LOSS) (De

COMPREHENSIVE INCOME (LOSS) (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Components of AOCI
Total accumulated other comprehensive income (loss)	$ (1,118)	$ 2,185
Cash flow hedge
Components of AOCI
Net unrealized gain (loss)	358	(1,407)
Related tax effect	(100)	394
Total accumulated other comprehensive income (loss)	258	(1,013)
Securities available for sale
Components of AOCI
Net unrealized gain (loss)	(1,765)	4,102
Related tax effect	389	(904)
Total accumulated other comprehensive income (loss)	$ (1,376)	$ 3,198

COMPREHENSIVE INCOME (LOSS) - C

COMPREHENSIVE INCOME (LOSS) - Changes in AOCI (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance at beginning of period	$ 705,471	$ 684,455	$ 696,314	$ 665,794
Amounts reclassified to accumulated other comprehensive income for transfer of securities to available for sale				522
Balance at end of period	680,032	694,103	680,032	694,103
Accumulated Other Comprehensive Income (Loss)
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance at beginning of period	829	2,897	2,185	1,480
Other comprehensive income (loss) before reclassifications	(2,384)	(1,303)	(4,234)	2,631
Amounts reclassified to accumulated other comprehensive income for transfer of securities to available for sale				522
Amounts reclassified from accumulated other comprehensive income (loss)	(101)	82	132	(2,600)
Net current period other comprehensive income (loss)	(2,485)	(1,221)	(4,102)	553
Related tax effect	538	100	799	(257)
Balance at end of period	(1,118)	1,776	(1,118)	1,776
Securities available for sale
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance at beginning of period	687	4,166	3,198	1,480
Other comprehensive income (loss) before reclassifications	(2,406)	(1,335)	(5,626)	4,212
Amounts reclassified to accumulated other comprehensive income for transfer of securities to available for sale				522
Amounts reclassified from accumulated other comprehensive income (loss)	(241)		(241)	(2,533)
Net current period other comprehensive income (loss)	(2,647)	(1,335)	(5,867)	2,201
Related tax effect	584	132	1,293	(718)
Balance at end of period	(1,376)	2,963	(1,376)	2,963
Cash flow hedge
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance at beginning of period	142	(1,269)	(1,013)
Other comprehensive income (loss) before reclassifications	22	32	1,392	(1,581)
Amounts reclassified from accumulated other comprehensive income (loss)	140	82	373	(67)
Net current period other comprehensive income (loss)	162	114	1,765	(1,648)
Related tax effect	(46)	(32)	(494)	461
Balance at end of period	$ 258	$ (1,187)	$ 258	$ (1,187)

FAIR VALUE OF ASSETS AND LIAB_3

FAIR VALUE OF ASSETS AND LIABILITIES (Details) - USD ($)	Sep. 30, 2021	Dec. 31, 2020
Assets and liabilities measured on recurring basis
Fair Value	$ 390,552,000	$ 276,498,000
Derivative loan commitments
Assets and liabilities measured on recurring basis
Weighted average pull-through rate	88.00%	76.00%
Recurring
Assets and liabilities measured on recurring basis
Fair Value	$ 390,552,000	$ 276,498,000
Recurring \| Level 1
Assets and liabilities measured on recurring basis
Fair Value	0	0
Recurring \| Level 2
Assets and liabilities measured on recurring basis
Fair Value	390,552,000	276,498,000
Recurring \| Level 3
Assets and liabilities measured on recurring basis
Fair Value	0	0
90 Days or More \| Recurring \| Level 2
Assets and liabilities measured on recurring basis
Loans held for sale	$ 0	$ 0

FAIR VALUE OF ASSETS AND LIAB_4

FAIR VALUE OF ASSETS AND LIABILITIES - Recurring basis (Details)	9 Months Ended	12 Months Ended
	Sep. 30, 2021USD ($)item	Dec. 31, 2020USD ($)item	Jun. 30, 2021USD ($)	Sep. 30, 2020USD ($)	Jun. 30, 2020USD ($)	Dec. 31, 2019USD ($)
Assets and liabilities measured on recurring basis
Number of transfers \| item	0	0
Assets
Securities available for sale, at fair value	$ 390,552,000	$ 276,498,000
Loans held for sale	77,052,000	208,612,000
Mortgage servicing rights	36,540,000	24,833,000	$ 35,955,000	$ 20,159,000	$ 16,127,000	$ 17,150,000
Recurring
Assets
Securities available for sale, at fair value	390,552,000	276,498,000
Loans held for sale	77,052,000	208,612,000
Mortgage servicing rights	36,540,000	24,833,000
Total assets	531,039,000	561,886,000
Liabilities
Total liabilities	22,578,000	43,272,000
Recurring \| Derivative loan commitments
Assets
Derivative assets	3,147,000	12,623,000
Liabilities
Derivative liabilities	43,000	341,000
Recurring \| Forward loan sale commitments
Assets
Derivative assets	884,000
Liabilities
Derivative liabilities	29,000	2,204,000
Recurring \| Interest rate swaps
Assets
Derivative assets	22,506,000	39,320,000
Liabilities
Derivative liabilities	22,506,000	39,320,000
Recurring \| Interest rate management agreement
Assets
Derivative assets	358,000
Liabilities
Derivative liabilities		1,407,000
Recurring \| Level 1
Assets
Securities available for sale, at fair value	0	0
Recurring \| Level 2
Assets
Securities available for sale, at fair value	390,552,000	276,498,000
Loans held for sale	77,052,000	208,612,000
Mortgage servicing rights	36,540,000	24,833,000
Total assets	527,008,000	549,263,000
Liabilities
Total liabilities	22,506,000	40,727,000
Recurring \| Level 2 \| Interest rate swaps
Assets
Derivative assets	22,506,000	39,320,000
Liabilities
Derivative liabilities	22,506,000	39,320,000
Recurring \| Level 2 \| Interest rate management agreement
Assets
Derivative assets	358,000
Liabilities
Derivative liabilities		1,407,000
Recurring \| Level 3
Assets
Securities available for sale, at fair value	0	0
Total assets	4,031,000	12,623,000
Liabilities
Total liabilities	72,000	2,545,000
Recurring \| Level 3 \| Derivative loan commitments
Assets
Derivative assets	3,147,000	12,623,000
Liabilities
Derivative liabilities	43,000	341,000
Recurring \| Level 3 \| Forward loan sale commitments
Assets
Derivative assets	884,000
Liabilities
Derivative liabilities	$ 29,000	$ 2,204,000

FAIR VALUE OF ASSETS AND LIAB_5

FAIR VALUE OF ASSETS AND LIABILITIES - Level 3 (Details) - Derivative and Forward Loan Sale Commitments - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Changes in Level 3 assets
Balance at beginning of period	$ 5,134	$ 10,844	$ 12,623	$ 1,411
Total gains included in net income	(1,103)	4,903	(8,592)	14,336
Balance at end of period	4,031	15,747	4,031	15,747
Changes in unrealized gains relating to instruments at period end	4,031	15,747	4,031	15,747
Changes in Level 3 liabilities
Balance at beginning of period	(342)	(2,067)	(2,545)	(332)
Total gains (losses) included in net income	270	590	2,473	(1,145)
Balance at end of period	(72)	(1,477)	(72)	(1,477)
Changes in unrealized losses relating to instruments at period end	$ (72)	$ (1,477)	$ (72)	$ (1,477)

FAIR VALUE OF ASSETS AND LIAB_6

FAIR VALUE OF ASSETS AND LIABILITIES - Impaired Loans (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020	Dec. 31, 2020
Assets and liabilities measured on non-recurring basis
Total Losses	$ 5,132,000	$ 749,000	$ 7,972,000	$ 3,081,000
Residential loans
Assets and liabilities measured on non-recurring basis
Total Losses		103,000		369,000
Commercial real estate
Assets and liabilities measured on non-recurring basis
Total Losses	5,124,000		5,124,000
Commercial and industrial
Assets and liabilities measured on non-recurring basis
Total Losses	8,000	644,000	2,824,000	2,654,000
Other real estate owned and repossessed assets
Assets and liabilities measured on non-recurring basis
Total Losses		$ 2,000	24,000	$ 58,000
Non-recurring
Assets and liabilities measured on non-recurring basis
Fair value	0		0		$ 0
Non-recurring \| Level 3
Assets and liabilities measured on non-recurring basis
Fair value	23,492,000		23,492,000		8,756,000
Non-recurring \| Level 3 \| Residential loans
Assets and liabilities measured on non-recurring basis
Fair value	846,000		846,000		919,000
Non-recurring \| Level 3 \| Commercial real estate
Assets and liabilities measured on non-recurring basis
Fair value	17,662,000		17,662,000		3,034,000
Non-recurring \| Level 3 \| Commercial and industrial
Assets and liabilities measured on non-recurring basis
Fair value	4,956,000		4,956,000		4,208,000
Non-recurring \| Level 3 \| Other real estate owned and repossessed assets
Assets and liabilities measured on non-recurring basis
Fair value	$ 28,000		$ 28,000		$ 595,000

FAIR VALUE OF ASSETS AND LIAB_7

FAIR VALUE OF ASSETS AND LIABILITIES - Balance Sheet Grouping (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Financial assets:
Cash and cash equivalents	$ 319,639	$ 205,870
Securities available for sale, at fair value	390,552	276,498
Federal Home Loan Bank stock	6,828	8,738
Loans held for sale	77,052	208,612
Loans, net	3,409,756	3,439,247
Retirement plan annuities	14,065	13,747
Accrued interest receivable	10,880	11,874
Financial liabilities:
Deposits	3,694,380	3,506,209
Subordinated debt	34,128	34,033
Mortgagors' escrow accounts	8,412	7,736
Accrued interest payable	567	1,262
Carrying Amount
Financial assets:
Cash and cash equivalents	319,639	205,870
Securities available for sale, at fair value	390,552	276,498
Federal Home Loan Bank stock	6,828	8,738
Loans held for sale	77,052	208,612
Loans, net	3,409,756	3,439,247
Retirement plan annuities	14,065	13,747
Accrued interest receivable	10,880	11,874
Financial liabilities:
Deposits	3,694,380	3,506,209
Borrowed funds	55,720	149,097
Subordinated debt	34,128	34,033
Mortgagors' escrow accounts	8,412	7,736
Accrued interest payable	567	1,262
Carrying Amount \| Derivative loan commitments
Derivative commitments/agreements:
Assets	3,147	12,623
Liabilities	43	341
Carrying Amount \| Interest rate management agreement
Derivative commitments/agreements:
Assets	358
Liabilities		1,407
Carrying Amount \| Interest rate swaps
Derivative commitments/agreements:
Assets	22,506	39,320
Liabilities	22,506	39,320
Carrying Amount \| Forward loan sale commitments
Derivative commitments/agreements:
Assets	884
Liabilities	29	2,204
Fair Value
Financial assets:
Cash and cash equivalents	319,639	205,870
Securities available for sale, at fair value	390,552	276,498
Loans held for sale	77,052	208,612
Loans, net	3,441,946	3,473,751
Retirement plan annuities	14,065	13,747
Accrued interest receivable	10,880	11,874
Financial liabilities:
Deposits	3,697,001	3,509,996
Borrowed funds	56,350	152,373
Subordinated debt	37,206	34,799
Mortgagors' escrow accounts	8,412	7,736
Accrued interest payable	567	1,262
Fair Value \| Derivative loan commitments
Derivative commitments/agreements:
Assets	3,147	12,623
Liabilities	43	341
Fair Value \| Interest rate management agreement
Derivative commitments/agreements:
Assets	358
Liabilities		1,407
Fair Value \| Interest rate swaps
Derivative commitments/agreements:
Assets	22,506	39,320
Liabilities	22,506	39,320
Fair Value \| Forward loan sale commitments
Derivative commitments/agreements:
Assets	884
Liabilities	29	2,204
Fair Value \| Level 1
Financial assets:
Cash and cash equivalents	319,639	205,870
Fair Value \| Level 2
Financial assets:
Securities available for sale, at fair value	390,552	276,498
Loans held for sale	77,052	208,612
Accrued interest receivable	10,880	11,874
Financial liabilities:
Borrowed funds	56,350	152,373
Accrued interest payable	567	1,262
Fair Value \| Level 2 \| Interest rate management agreement
Derivative commitments/agreements:
Assets	358
Liabilities		1,407
Fair Value \| Level 2 \| Interest rate swaps
Derivative commitments/agreements:
Assets	22,506	39,320
Liabilities	22,506	39,320
Fair Value \| Level 3
Financial assets:
Loans, net	3,441,946	3,473,751
Retirement plan annuities	14,065	13,747
Financial liabilities:
Deposits	3,697,001	3,509,996
Subordinated debt	37,206	34,799
Mortgagors' escrow accounts	8,412	7,736
Fair Value \| Level 3 \| Derivative loan commitments
Derivative commitments/agreements:
Assets	3,147	12,623
Liabilities	43	341
Fair Value \| Level 3 \| Forward loan sale commitments
Derivative commitments/agreements:
Assets	884
Liabilities	$ 29	$ 2,204

EARNINGS PER SHARE (Details)

EARNINGS PER SHARE (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
EARNINGS PER SHARE
Net income available to common stockholders (in thousands)	$ 12,259	$ 11,893	$ 45,927	$ 27,192
Average number of common shares outstanding	54,021,542	58,375,742	55,599,758	58,403,825
Less: Average unallocated ESOP shares and non-vested restricted shares	(4,220,419)	(3,910,403)	(4,237,506)	(3,967,735)
Weighted average common shares outstanding used to calculate basic earnings per common share	49,801,123	54,465,339	51,362,252	54,436,090
Dilutive effect of share-based compensation	862,292		732,497
Weighted average common shares outstanding used to calculate diluted earnings per common share	50,663,415	54,465,339	52,094,749	54,436,090
Basic	$ 0.25	$ 0.22	$ 0.89	$ 0.50
Diluted	$ 0.24	$ 0.22	$ 0.88	$ 0.50
Stock Options
EARNINGS PER SHARE
Antidilutive securities excluded from computation of earnings per share		2,148,295		2,148,295

SEGMENT REPORTING (Details)

SEGMENT REPORTING (Details) $ in Thousands	3 Months Ended		9 Months Ended
SEGMENT REPORTING (Details) $ in Thousands	Sep. 30, 2021USD ($)	Sep. 30, 2020USD ($)	Sep. 30, 2021USD ($)segment	Sep. 30, 2020USD ($)	Dec. 31, 2020USD ($)
Segment Reporting Information
Number of reportable segments \| segment			2
Net interest and dividend income (expense)	$ 32,803	$ 31,169	$ 97,385	$ 87,316
(Credit) provision for loan losses	(1,627)	13,454	(5,822)	27,207
Net interest and dividend income, after provision (credit) for loan losses	34,430	17,715	103,207	60,109
Mortgage banking income:
Gain on sale of mortgage loans	12,756	34,055	51,820	77,195
Changes in mortgage servicing rights fair value	(992)	(193)	(135)	(5,691)
Other	3,882	4,258	12,472	10,650
Total mortgage banking income	15,646	38,120	64,157	82,154
Other noninterest income (loss)	6,364	6,318	17,365	19,499
Total noninterest income	22,010	44,438	81,522	101,653
Noninterest expense	39,274	45,699	120,674	124,636
Income (loss) before income taxes	17,166	16,454	64,055	37,126
Provision (benefit) for income taxes	4,907	4,561	18,128	9,934
Net income	12,259	11,893	45,927	27,192
Total assets at period end	4,567,094	4,428,319	4,567,094	4,428,319	$ 4,483,615
Goodwill at period end	69,802	69,802	69,802	69,802	$ 69,802
HarborOne Bank
Mortgage banking income:
Goodwill at period end	59,000		59,000
HarborOne Mortgage
Mortgage banking income:
Goodwill at period end	10,800		10,800
Operating Segments \| HarborOne Bank
Segment Reporting Information
Net interest and dividend income (expense)	32,494	30,599	95,876	86,248
(Credit) provision for loan losses	(1,627)	13,454	(5,822)	27,207
Net interest and dividend income, after provision (credit) for loan losses	34,121	17,145	101,698	59,041
Mortgage banking income:
Intersegment (loss) gain	(1,373)	(645)	(2,945)	(2,444)
Changes in mortgage servicing rights fair value	(74)	(354)	(207)	(2,014)
Other	263	334	839	1,031
Total mortgage banking income	(1,184)	(665)	(2,313)	(3,427)
Other noninterest income (loss)	6,339	6,326	17,328	19,640
Total noninterest income	5,155	5,661	15,015	16,213
Noninterest expense	26,570	26,300	75,161	75,806
Income (loss) before income taxes	12,706	(3,494)	41,552	(552)
Provision (benefit) for income taxes	3,575	571	11,873	2,199
Net income	9,131	(4,065)	29,679	(2,751)
Total assets at period end	4,575,798	4,404,842	4,575,798	4,404,842
Goodwill at period end	59,042	59,042	59,042	59,042
Operating Segments \| HarborOne Mortgage
Segment Reporting Information
Net interest and dividend income (expense)	792	1,000	2,897	2,020
Net interest and dividend income, after provision (credit) for loan losses	792	1,000	2,897	2,020
Mortgage banking income:
Gain on sale of mortgage loans	12,756	34,055	51,820	77,195
Intersegment (loss) gain	2,366	645	3,938	2,444
Changes in mortgage servicing rights fair value	(918)	161	72	(3,677)
Other	3,619	3,924	11,633	9,619
Total mortgage banking income	17,823	38,785	67,463	85,581
Other noninterest income (loss)	25	(8)	37	(141)
Total noninterest income	17,848	38,777	67,500	85,440
Noninterest expense	12,387	19,133	44,545	47,923
Income (loss) before income taxes	6,253	20,644	25,852	39,537
Provision (benefit) for income taxes	1,559	4,550	6,905	8,667
Net income	4,694	16,094	18,947	30,870
Total assets at period end	208,888	280,983	208,888	280,983
Goodwill at period end	10,760	10,760	10,760	10,760
Operating Segments \| HarborOne Bancorp, Inc.
Segment Reporting Information
Net interest and dividend income (expense)	(483)	(430)	(1,388)	(952)
Net interest and dividend income, after provision (credit) for loan losses	(483)	(430)	(1,388)	(952)
Mortgage banking income:
Noninterest expense	317	266	968	907
Income (loss) before income taxes	(800)	(696)	(2,356)	(1,859)
Provision (benefit) for income taxes	(227)	(560)	(650)	(932)
Net income	(573)	(136)	(1,706)	(927)
Total assets at period end	717,325	729,838	717,325	729,838
Eliminations
Mortgage banking income:
Intersegment (loss) gain	(993)		(993)
Total mortgage banking income	(993)		(993)
Total noninterest income	(993)		(993)
Income (loss) before income taxes	(993)		(993)
Net income	(993)		(993)
Total assets at period end	$ (934,917)	$ (987,344)	$ (934,917)	$ (987,344)