HarborOne Bancorp (HONE) 10-K6 Mar 252024 FY Annual reportFinancial data

Company Profile

Document and Entity Information

Document and Entity Information - USD ($)	12 Months Ended
Document and Entity Information - USD ($)	Dec. 31, 2024	Feb. 28, 2025	Jun. 30, 2024
Document and Entity Information
Document Type	10-K
Document Annual Report	true
Document Period End Date	Dec. 31, 2024
Document Transition Report	false
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 Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
ICFR Auditor Attestation Flag	true
Document Financial Statement Error Correction [Flag]	false
Entity Shell Company	false
Entity Public Float			$ 365,680,424
Entity Common Stock, Shares Outstanding		43,497,648
Entity Central Index Key	0001769617
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	FY
Amendment Flag	false
Auditor Name	Crowe LLP
Auditor Firm ID	173
Auditor Location	New York, New York

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Assets
Cash and due from banks	$ 44,090	$ 38,876
Short-term investments	186,981	188,474
Total cash and cash equivalents	231,071	227,350
Securities available for sale, at fair value	263,904	290,151
Securities held to maturity, at amortized cost (fair value of $19,285 and $19,262 at December 31, 2024 and 2023, respectively)	19,627	19,796
Federal Home Loan Bank stock, at cost	23,277	27,098
Asset held for sale		348
Loans held for sale, at fair value	36,768	19,686
Loans	4,852,499	4,750,311
Less: Allowance for credit losses on loans	(56,101)	(47,972)
Net loans	4,796,398	4,702,339
Accrued interest receivable	18,393	18,169
Mortgage servicing rights, at fair value	44,500	46,111
Property and equipment, net	46,253	48,749
Retirement plan annuities	15,698	15,170
Bank-owned life insurance	97,726	94,675
Goodwill	59,042	59,042
Intangible assets	757	1,515
Other assets	99,719	97,697
Total assets	5,753,133	5,667,896
Deposits:
Demand deposit accounts	690,647	659,973
NOW accounts	298,337	305,825
Regular savings and club accounts	895,232	1,265,315
Money market deposit accounts	1,195,209	966,201
Term certificate accounts	1,069,844	863,457
Brokered deposits	401,484	326,638
Total deposits	4,550,753	4,387,409
Borrowings	516,555	568,462
Mortgagors' escrow accounts	8,537	8,872
Accrued interest payable	6,575	5,251
Other liabilities and accrued expenses	95,702	114,143
Total liabilities	5,178,122	5,084,137
Commitments and contingencies (Notes 7, 12 and 13)
Common stock, $0.01 par value; 150,000,000 shares authorized; 60,517,573 and 60,255,288 shares issued; 43,723,278 and 45,401,224 shares outstanding at December 31, 2024 and December 31, 2023, respectively	598	598
Additional paid-in capital	489,532	486,502
Unearned compensation - ESOP	(23,947)	(25,785)
Retained earnings	373,861	359,656
Treasury stock, at cost, 16,794,295 and 14,854,064 shares at December 31, 2024 and 2023, respectively	(215,138)	(193,590)
Accumulated other comprehensive loss	(49,895)	(43,622)
Total stockholders' equity	575,011	583,759
Total liabilities and stockholders' equity	$ 5,753,133	$ 5,667,896

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Consolidated Balance Sheets (unaudited)
Held-to-maturity securities, fair value	$ 19,285	$ 19,262
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	60,517,573	60,255,288
Common stock, shares outstanding	43,723,278	45,401,224
Treasury, shares	16,794,295	14,854,064

Consolidated Statements of Inco

Consolidated Statements of Income - USD ($)	12 Months Ended
Consolidated Statements of Income - USD ($)	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Interest and dividend income:
Interest and fees on loans	$ 247,459,000	$ 225,898,000	$ 162,340,000
Interest on loans held for sale	1,653,000	1,351,000	1,306,000
Interest on securities	8,147,000	8,118,000	7,590,000
Other interest and dividend income	14,149,000	8,921,000	694,000
Total interest and dividend income	271,408,000	244,288,000	171,930,000
Interest expense:
Interest on deposits	114,103,000	88,324,000	15,630,000
Interest on borrowings	31,653,000	25,918,000	5,219,000
Interest on subordinated debentures		2,775,000	2,095,000
Total interest expense	145,756,000	117,017,000	22,944,000
Net interest and dividend income	125,652,000	127,271,000	148,986,000
Provision for credit losses	8,277,000	5,680,000	5,660,000
Net interest and dividend income, after provision for credit losses	117,375,000	121,591,000	143,326,000
Mortgage banking income:
Gain on sale of mortgage loans	12,860,000	10,404,000	15,970,000
Changes in mortgage servicing rights fair value	(3,704,000)	(4,684,000)	5,332,000
Other	9,453,000	9,099,000	9,948,000
Total mortgage banking income	18,609,000	14,819,000	31,250,000
Deposit account fees	21,600,000	20,674,000	19,658,000
Income on retirement plan annuities	529,000	540,000	456,000
Gain on sale of asset held for sale	1,809,000
Loss on sale of securities	(1,041,000)
Bank-owned life insurance income	3,050,000	2,749,000	1,981,000
Other income	2,361,000	3,072,000	3,964,000
Total noninterest income	46,917,000	41,854,000	57,309,000
Noninterest expense:
Compensation and benefits	74,016,000	73,917,000	83,273,000
Occupancy and equipment	18,522,000	18,773,000	19,767,000
Data processing	10,191,000	9,771,000	9,170,000
Loan expenses	1,814,000	798,000	1,387,000
Marketing	3,332,000	3,711,000	3,916,000
Deposit expenses	2,813,000	1,975,000	2,375,000
Postage and printing	1,560,000	1,597,000	1,610,000
Professional fees	5,436,000	5,679,000	6,122,000
Foreclosed and repossessed assets	6,000	(8,000)	18,000
Deposit insurance	4,348,000	3,485,000	1,445,000
Goodwill impairment	0	10,760,000
Other expenses	7,997,000	7,862,000	9,823,000
Total noninterest expense	130,035,000	138,320,000	138,906,000
Income before income taxes	34,257,000	25,125,000	61,729,000
Income tax provision	6,850,000	9,048,000	16,140,000
Net income	$ 27,407,000	$ 16,077,000	$ 45,589,000
Earnings per common share:
Basic	$ 0.66	$ 0.37	$ 0.98
Diluted	$ 0.66	$ 0.37	$ 0.97
Weighted average shares outstanding:
Weighted average common shares, basic	41,220,885	43,221,738	46,483,664
Weighted average common shares, diluted	41,472,106	43,419,622	47,118,457

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Consolidated Statements of Comprehensive Income
Net income	$ 27,407	$ 16,077	$ 45,589
Unrealized gain/loss on cashflow hedge:
Unrealized holding gains	828	1,403	7,815
Reclassification adjustment for net gains included in net income	(4,883)	(4,622)	(1,164)
Net change in unrealized (losses) gains on derivatives in cashflow hedging instruments	(4,055)	(3,219)	6,651
Related tax effect	1,160	905	(1,868)
Net-of-tax amount	(2,895)	(2,314)	4,783
Unrealized gain/loss on securities available for sale:
Unrealized holding (losses) gains	(4,243)	6,249	(64,620)
Reclassification adjustment for realized losses	1,041
Net unrealized (losses) gains	(3,202)	6,249	(64,620)
Related tax effect	(45)	(410)	14,242
Net-of-tax amount	(3,247)	5,839	(50,378)
Postretirement benefit:
Adjustment of accumulated obligation for postretirement benefits	(47)	1	251
Reclassification adjustment for gains recognized in net periodic benefit cost	(84)	(66)	(42)
Net gains (losses)	(131)	(65)	209
Related tax effect			(59)
Net-of-tax amount	(131)	(65)	150
Total other comprehensive (loss) income	(6,273)	3,460	(45,445)
Comprehensive income	$ 21,134	$ 19,537	$ 144

Consolidated Statements of Chan

Consolidated Statements of Changes in Stockholders' Equity - USD ($) $ in Thousands	Common Stock	Additional Paid-in Capital	Retained Earnings Cumulative Effect, Period of Adoption, Adjustment	Retained Earnings	Treasury Stock, at Cost	Accumulated Other Comprehensive Income (Loss)	Unearned Compensation - ESOP	Cumulative Effect, Period of Adoption, Adjustment	Total
Balance at beginning of period at Dec. 31, 2021	$ 585	$ 469,934		$ 325,699	$ (85,859)	$ (1,637)	$ (29,461)		$ 679,261
Balance, beginning of period (in shares) at Dec. 31, 2021	52,390,478
Comprehensive income (loss)				45,589		(45,445)			144
Dividends declared per share				(12,966)					(12,966)
ESOP shares committed to be released		1,440					1,838		3,278
Restricted stock awards granted, net of forfeitures (in shares)	94,141
Performance stock units vested (in shares)	14,596
Share-based compensation expense	$ 2	3,303							3,305
Stock options exercised	$ 9	8,354							8,363
Stock options exercised (in shares)	868,808
Treasury stock purchased					(62,525)				(62,525)
Treasury stock purchased (in shares)	(4,406,571)
Balance at end of period at Dec. 31, 2022	$ 596	483,031	$ (1,884)	356,438	(148,384)	(47,082)	(27,623)	$ (1,884)	616,976
Balance, end of period (in shares) at Dec. 31, 2022	48,961,452
Comprehensive income (loss)				16,077		3,460			19,537
Dividends declared per share				(12,859)					(12,859)
ESOP shares committed to be released		663					1,838		2,501
Restricted stock awards granted, net of forfeitures (in shares)	130,921
Share-based compensation expense	$ 2	2,166							2,168
Stock options exercised		642							642
Stock options exercised (in shares)	62,840
Treasury stock purchased					(45,206)				(45,206)
Treasury stock purchased (in shares)	(3,753,989)
Balance at end of period at Dec. 31, 2023	$ 598	486,502		359,656	(193,590)	(43,622)	(25,785)		$ 583,759
Balance, end of period (in shares) at Dec. 31, 2023	45,401,224								45,401,224
Comprehensive income (loss)				27,407		(6,273)			$ 21,134
Dividends declared per share				(13,202)					(13,202)
ESOP shares committed to be released		826					1,838		2,664
Restricted stock awards granted, net of forfeitures (in shares)	185,425
Performance stock units vested (in shares)	63,860
Share-based compensation expense		2,071							2,071
Stock options exercised		133							133
Stock options exercised (in shares)	13,000
Treasury stock purchased					(21,548)				(21,548)
Treasury stock purchased (in shares)	(1,940,231)
Balance at end of period at Dec. 31, 2024	$ 598	$ 489,532		$ 373,861	$ (215,138)	$ (49,895)	$ (23,947)		$ 575,011
Balance, end of period (in shares) at Dec. 31, 2024	43,723,278								43,723,278

Consolidated Statements of Ch_2

Consolidated Statements of Changes in Stockholders' Equity (Parenthetical) - $ / shares	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Consolidated Statements of Changes in Stockholders' Equity (unaudited)
Dividends declared per share	$ 0.32	$ 0.3	$ 0.28
ESOP shares committed to be released	230,723	230,723	230,723

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($)	12 Months Ended
Consolidated Statements of Cash Flows - USD ($)	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Cash flows from operating activities:
Net income	$ 27,407,000	$ 16,077,000	$ 45,589,000
Adjustments to reconcile net income to net cash provided by operating activities:
Provision for credit losses	8,277,000	5,680,000	5,660,000
Net amortization of securities premiums/discounts	365,000	433,000	943,000
Proceeds from sale of loans	565,546,000	433,233,000	602,948,000
Loans originated for sale	(569,736,000)	(423,776,000)	(560,942,000)
Accretion of net deferred loan costs/fees and premiums	(404,000)	(190,000)	(399,000)
Depreciation and amortization of premises and equipment	3,734,000	3,843,000	3,924,000
Change in mortgage servicing rights fair value	2,718,000	4,684,000	(5,332,000)
Mortgage servicing rights capitalized	(1,107,000)	(2,657,000)	(4,538,000)
Accretion of fair value adjustment on loans and deposits, net	(525,000)	(366,000)	(1,204,000)
Goodwill impairment	0	10,760,000
Amortization of other intangible assets	758,000	757,000	892,000
Amortization of subordinated debt issuance costs	0	715,000	126,000
Loss on sale of securities, net	1,041,000
Net gains on mortgage loan sales, including fair value adjustments	(12,892,000)	(10,600,000)	(14,908,000)
Bank-owned life insurance income	(3,050,000)	(2,749,000)	(1,981,000)
Income on retirement plan annuities	(529,000)	(540,000)	(456,000)
Write-down of asset held for sale			196,000
Net loss on disposal of premises and equipment		19,000	41,000
Net gain on sale of assets held for sale	(1,809,000)	(305,000)
Net gain on sale and write-down of other real estate owned and repossessed assets	(5,000)	(9,000)	(30,000)
Bargain purchase contribution	675,000
Deferred income tax expense	(5,053,000)	(1,778,000)	3,162,000
ESOP expense	2,664,000	2,501,000	3,278,000
Share-based compensation expense	2,071,000	2,168,000	3,305,000
Net change in:
Decrease (increase) in operating lease ROU assets	1,927,000	4,068,000	(161,000)
(Decrease) increase in operating lease liabilities	(1,840,000)	(4,067,000)	220,000
Change in other assets	(1,304,000)	(192,000)	(20,388,000)
Change in other liabilities	(15,089,000)	15,799,000	8,954,000
Net cash provided by operating activities	3,840,000	53,508,000	68,899,000
Activity in securities available for sale:
Maturities, prepayments and calls	20,680,000	21,414,000	43,426,000
Purchases	(15,634,000)	(4,606,000)	(16,102,000)
Sales	16,584,000
Activity in securities held to maturity:
Maturities, prepayment and calls	176,000	160,000
Purchases			(19,949,000)
Net (purchase) redemption of FHLB stock	3,821,000	(7,027,000)	(14,140,000)
Proceeds on asset held for sale	1,482,000	874,000	685,000
Loan pool purchase			(58,311,000)
Participation-in loan purchases	(10,789,000)	(33,169,000)	(197,000,000)
Net loan originations	(91,895,000)	(170,145,000)	(688,689,000)
Proceeds from sale of other real estate owned and repossessed assets	115,000	267,000	327,000
Additions to property and equipment	(1,238,000)	(4,481,000)	(2,265,000)
Net cash used by investing activities	(76,698,000)	(196,713,000)	(952,018,000)
Cash flows from financing activities:
Net increase in deposits	163,344,000	197,806,000	506,725,000
Net change in short-term borrowed funds	(91,000,000)	(82,000,000)	385,000,000
Proceeds from borrowings	427,526,000	325,000,000
Repayment of borrowings	(388,433,000)	(75,213,000)	(40,036,000)
Repayment of subordinated debt		(35,000,000)
Net change in mortgagors' escrow accounts	(335,000)	(665,000)	1,078,000
Proceeds from exercise of stock options	133,000	642,000	8,363,000
Treasury stock purchased	(21,548,000)	(45,206,000)	(62,525,000)
Dividends paid	(13,108,000)	(12,826,000)	(12,188,000)
Net cash provided by financing activities	76,579,000	272,538,000	786,417,000
Net change in cash and cash equivalents	3,721,000	129,333,000	(96,702,000)
Cash and cash equivalents at beginning of period	227,350,000	98,017,000	194,719,000
Cash and cash equivalents at end of period	231,071,000	227,350,000	98,017,000
Supplemental cash flow information:
Interest paid on deposits	112,323,000	86,538,000	14,235,000
Interest paid on borrowed funds	31,929,000	28,464,000	6,783,000
Income taxes paid, net	9,843,000	10,975,000	11,674,000
Transfer of loans to other real estate owned and repossessed assets	51,000	273,000	297,000
Transfer of assets to assets held for sale		918,000
Dividends declared	$ 13,202,000	$ 12,859,000	$ 12,966,000

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	12 Months Ended
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	Dec. 31, 2024
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation and Consolidation HarborOne Bancorp, Inc. (the “Company”) is the stock holding company of HarborOne Bank (the “Bank”), a state-chartered trust company, which in turn owns a residential mortgage banking company, HarborOne Mortgage, LLC (“HarborOne Mortgage”). The Consolidated Financial Statements include the accounts of the Company, the Company’s subsidiaries, Legion Parkway Company LLC, and HarborOne Bank; and the Bank’s wholly owned subsidiaries, HarborOne Mortgage, one security corporation subsidiary, and one passive investment subsidiary. The passive investment corporation maintains and manages certain assets of the Bank. The security company was established for the purpose of buying, holding, and selling securities on its own behalf. All significant intercompany balances and transactions have been eliminated in consolidation. Nature of Operations The Company provides a variety of financial services to individuals and businesses through its 30 full-service bank branches in Massachusetts and Rhode Island, and a commercial lending office in each of Boston, Massachusetts and Providence, Rhode Island. HarborOne Mortgage maintains offices in, Massachusetts, Rhode Island, New Hampshire, Maine, New Jersey and Florida and originates loans in five additional states. The Company’s primary deposit products are checking, money market, savings and term certificate of deposit accounts while its primary lending products are commercial real estate, commercial, residential mortgages, home equity, and consumer loans. The Company also originates, sells and services residential mortgage loans through HarborOne Mortgage. Use of Estimates To prepare financial statements in conformity with accounting principles generally accepted in the United States of America, Management makes estimates and assumptions based on available information. These estimates and assumptions affect the amounts reported in the financial statements and the disclosures provided, however, actual results could differ. Significant Group Concentration of Credit Risk The Company has cash and federal fund balances on deposit at correspondent banks that exceed insurable limits. The Company has not experienced any losses on such amounts. Most of the Company’s lending activities are with borrowers located within southeastern New England. The ability and willingness of residential and consumer borrowers to honor their repayment commitments is generally dependent on the level of overall economic activity within the borrowers’ geographic area and real estate values. Note 4 provides the detail of the Company’s loan portfolio and Note 2 provides the detail of the Company’s investment portfolio. The Company does not have any significant concentrations to any one industry or customer. Reclassifications 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. Cash Flows Cash and cash equivalents include cash, interest-bearing deposits with other financial institutions with maturities fewer than 90 days, and federal funds sold. Net cash flows are reported for customer loan and deposit transactions and interest-bearing deposits in other financial institutions. Debt Securities Debt securities are classified as held-to-maturity and carried at amortized cost when Management has the positive intent and ability to hold them to maturity. Debt securities are classified as available for sale when they might be sold before maturity. Securities available for sale are carried at fair value, with unrealized holding gains and losses reported in other comprehensive income, net of tax. Interest income includes amortization of purchase premium or discount. Premiums and discounts on securities are amortized on the level-yield method without anticipating prepayments, except for mortgage-backed securities where prepayments are anticipated. Gains and losses on sales are recorded on the trade date and determined using the specific identification method. Effective January 1, 2022, the Company adopted the provisions of Topic 326 and modified its accounting for the assessment of available-for-sale debt securities for impairment as further described below. The Company has made an accounting policy election to exclude accrued interest from the amortized cost basis of debt securities and reports accrued interest separately in other assets in the Consolidated Balance Sheets. The Company also excludes accrued interest from the estimate of credit losses. A debt security is placed on non-accrual status at the time any principal or interest payments become more than 90 days delinquent or if full collection of interest or principal becomes uncertain. When a debt security is placed on non-accrual status, accrued interest is reversed against interest income. There were no debt securities on non-accrual status, and therefore there was no accrued interest related to debt securities reversed against interest income, for the years ended December 31, 2024 and 2023. The Company measures expected credit losses on held-to-maturity securities on a collective basis by major security type in accordance with the CECL methodology. As of December 31, 2024, the held-to-maturity securities were U.S. government-sponsored agency obligations. These securities are guaranteed by the government sponsored agency with a long history of no credit losses. As a result, Management has determined these securities to have a zero loss expectation and therefore does not estimate an allowance for credit losses on these securities. For available-for-sale debt securities in an unrealized loss position, Management first assesses whether the Company intends to sell, or if it is likely that the Company will be required to sell the security before recovery of its amortized cost basis. If either of the criteria regarding intent or requirement to sell is met, the security’s amortized cost basis is written down to fair value through a provision for credit losses charge to earnings. For debt securities available for sale that do not meet either these criteria, Management evaluates whether the decline in fair value has resulted from credit losses or other factors. In making this assessment, Management considers both quantitative and qualitative factors. A substantial portion of available-for-sale debt securities held by the Company are obligations issued by U.S. government agencies and U.S. government-sponsored enterprises, including mortgage-backed securities. These securities are either explicitly or implicitly guaranteed by the U.S. government, which are highly rated by major credit rating agencies and have a long history of no credit losses. For these securities, Management takes into consideration the long history of no credit losses and other factors to assess the risk of nonpayment even if the U.S. government were to default. As such, the Company has utilized a zero loss estimate due to credit for these securities. For available-for-sale debt securities that are not guaranteed by U.S. government agencies and U.S. government-sponsored enterprises, such as corporate bonds, Management utilizes a third-party credit modeling tool based on observable market data, which assists Management in identifying any potential credit risk associated with its available-for-sale debt securities. In addition, qualitative factors are also considered, including the extent to which fair value is less than amortized cost, changes to the credit rating of the security by a rating agency, and adverse conditions specifically related to the security, among other factors. If a credit loss exists based on the results of this assessment, an ACL (contra asset) is recorded, limited by the amount that the fair value is less than the amortized cost basis. Any impairment that has not been recorded through an ACL is considered market-related and is recognized in other comprehensive income, net of taxes. Changes in the ACL on available-for-sale debt securities are recorded as provision for (or reversal of) credit losses. Losses are charged against the ACL when Management believes the uncollectability of an available-for-sale debt security is confirmed or when either of the criteria regarding intent or requirement to sell is met. Federal Home Loan Bank Stock The Company, as a member of the FHLB system, is required to maintain an investment in capital stock of the FHLB of Boston. Based on redemption provisions of the FHLB, the stock has no quoted market value and is carried at cost. At its discretion, the FHLB may declare dividends on the stock. The Company reviews FHLB stock for impairment based on the ultimate recoverability of the cost basis. As of December 31, 2024 and 2023, no impairment has been recognized. Mortgage Loans Held for Sale Residential mortgage loans originated with the intent to sell are classified as held-for-sale and are carried at fair value. Loan origination costs for loans held for sale that the Company accounts for under the fair value option are recognized in noninterest expense when incurred. Changes in fair value are recognized in mortgage banking income. Gains and losses on residential loan sales are recognized at the settlement date and are included in mortgage banking income. Upfront fees and costs related to mortgage loans held for sale for which the fair value option was elected are recognized in mortgage banking income as received / incurred and are not deferred. Interest income on mortgage loans held for sale is recorded in interest income. Loans Loans held for investment are reported at their outstanding unpaid principal balances adjusted for charge-offs, the allowance for credit losses on loans, and any unamortized deferred origination fees and costs. Loan origination fees are offset with related direct incremental loan origination costs and the resulting net amount is deferred and amortized to interest income using the level-yield method over the remaining life of the loan without anticipating prepayment. Accrual of interest on loans is discontinued when collectability of principal or interest is uncertain or when payments of principal or interest have become contractually past due 90 days or more. Past due status is based on contractual terms of the loan. However, a loan may remain on accrual status if both the value of any collateral securing the loan is sufficient to cover principal and accrued interest thereon, and the loan is in the process of collection. In all cases, loans are placed on non-accrual status or charged-off at an earlier date if collection of principal or interest is considered doubtful. When a loan is placed on non-accrual status, all interest accrued but not received is reversed against interest income. Interest received on such loans is accounted for on the cash-basis or cost-recovery method until qualifying for return to accrual. Under the cost-recovery method, interest income is not recognized until the loan balance is reduced to zero. Under the cash-basis method, interest income is recorded when the payment is received in cash. Loans are returned to accrual status when all the principal and interest amounts contractually due are brought current and future payments are reasonably assured. The Company’s loan portfolio includes residential real estate, commercial real estate, construction, commercial and industrial and consumer segments. Residential real estate loans include classes for one- to four-family and second mortgages and equity lines of credit. Consumer loans include classes for auto and personal loans. The Company’s acquired loans are recorded at fair value with no carryover of the allowance for credit losses. Net discount on performing loans acquired are recognized as interest income over the remaining life of the loan. Acquired loans determined to have evidence of deterioration in credit quality and when it is probable, at acquisition, that all contractually required payments will not be collected, are deemed to be purchased credit deteriorated (“PCD”) loans. For PCD loans, the excess of cash flows expected to be collected over the carrying amount of the loans, referred to as the “accretable yield,” is accreted into interest income over the life of the loans using the effective yield method. The Company monitors actual cash flows to determine any deterioration from those forecasted at the acquisition date, which is evaluated and recorded through the allowance for credit losses. Allowance for Credit Losses on Loans The Company has made an accounting policy election to exclude accrued interest from the amortized cost basis of loans and reports accrued interest separately in other assets in the Consolidated Balance Sheets. The Company also excludes accrued interest from the estimate of credit losses. Accrued interest receivable on loans totaled $16.0 million and $15.6 million, respectively, as of December 31, 2024 and 2023, respectively. The ACL on loans is Management’s estimate of expected credit losses over the expected life of the loans at the reporting date. The ACL on loans is increased through a provision for credit losses recognized in the Consolidated Statements of Income and by recoveries of amounts previously charged off. The ACL on loans is reduced by charge-offs on loans. Loan charge-offs are recognized when Management believes the collectability of the principal balance outstanding is unlikely. Full or partial charge-offs on collateral-dependent individually analyzed loans are generally recognized when the collateral is deemed to be insufficient to support the carrying value of the loan. The level of the ACL on loans is based on Management’s ongoing review of all relevant information, from internal and external sources, relating to past events, current conditions and reasonable and supportable forecasts. Historical credit loss experience provides the basis for the calculation of probability of default, loss given default, exposure at default and the estimation of expected credit losses. As discussed further below, adjustments to historical information are made for differences in specific risk characteristics, such as differences in underwriting standards, portfolio mix, delinquency level, or term, as well as for changes in environmental conditions, that may not be reflected in historical loss rates. Management employs a process and methodology to estimate the ACL on loans that evaluates both quantitative and qualitative factors. The methodology for evaluating quantitative factors consists of two basic components. The first component involves pooling loans into portfolio segments for loans that share similar risk characteristics. Pooled loan portfolio segments include commercial real estate, commercial and industrial, commercial construction, residential real estate (including homeowner construction), home equity and consumer loans. The second component involves individually analyzed loans that do not share similar risk characteristics with loans that are pooled into portfolio segments. Individually analyzed loans include non-accrual loans, commercial loans risk-rated 8 or greater, and certain other loans based on the underlying risk characteristics and the discretion of Management to individually analyze such loans. For loans that are individually analyzed, the ACL is measured using a discounted cash flow (“DCF”) methodology based upon the loan’s contractual effective interest rate, or at the loan’s observable market price, or, if the loan is collateral-dependent, at the fair value of the collateral. Factors Management considers when measuring the extent of expected credit loss include payment status, collateral value, borrower financial condition, guarantor support and the probability of collecting scheduled principal and interest payments when due. For collateral-dependent loans for which repayment is to be provided substantially through the sale of the collateral, Management adjusts the fair value for estimated costs to sell. For collateral-dependent loans for which repayment is to be provided substantially through the operation of the collateral, estimated costs to sell are not incorporated into the measurement. Management may also adjust appraised values to reflect estimated market value declines or apply other discounts to appraised values for unobservable factors resulting from its knowledge of circumstances associated with the collateral. For pooled loans, the Company utilizes a DCF methodology to estimate credit losses over the expected life of the loan. The life of the loan excludes expected extensions, renewal and modifications, unless: (1) the extension or renewal options are included in the original or modified contract terms and not unconditionally cancellable by the Company; or (2) Management reasonably expects at the reporting date that a modification will be made to a borrower experiencing financial difficulty. The methodology incorporates the probability of default and loss given default, which are identified by default triggers such as past due by 90 or more days, whether a charge-off has occurred, the loan is non-accrual, or the loan is risk-rated as special mention, substandard, or doubtful. The probability of default for the life of the loan is determined by the use of an econometric factor. Management selected multiple economic forecasts including the civilian unemployment rate, residential property price indices, commercial price indices, and real disposable income, generally applying two forecasts to each loan segment. The forecasts assume that economic variables revert to long-term average. Reversion periods generally begin eight quarters after the forecast start date and generally concludes within sixteen quarters of the forecast start date. The DCF methodology combines the probability of default, the loss given default, maturity date and prepayment speeds to estimate a reserve for each loan. The sum of all the loan level reserves are aggregated for each portfolio segment and a loss rate factor is derived. Quantitative loss factors are also supplemented by certain qualitative risk factors reflecting Management’s view of how losses may vary from those represented by quantitative loss rates. These qualitative risk factors include: (1) changes in lending policies and procedures, including changes in underwriting standards and collection, charge-off, and recovery practices not considered elsewhere in estimating credit losses; (2) changes in international, national, regional, and local economic and business conditions and developments that affect the collectability of the portfolio, including the condition of various market segments; (3) changes in the nature of the portfolio and in the volume of past due loans; (4) changes in the experience, ability, and depth of lending management and other relevant staff; (5) changes in the quality of the loan review system; (6) changes in the value of underlying collateral for collateral-dependent loans; (7) the existence and effect of any concentrations of credit, and changes in the level of such concentrations; and (8) the effect of other external factors such as legal and regulatory requirements on the level of estimated credit losses in the institution’s existing portfolio. Qualitative loss factors are applied to each portfolio segment and determined based on the risk characteristics of each segment. Because the methodology is based upon historical experience and trends, current economic data, reasonable and supportable forecasts, as well as Management’s judgment, factors may arise that result in different estimations. Deteriorating conditions or assumptions could lead to further increases in the ACL on loans. In addition, various regulatory agencies periodically review the ACL on loans. Such agencies may require additions to the allowance based on their judgments about information available to them at the time of their examination. The ACL on loans is determined by an estimate of future credit losses, and ultimate losses may vary from Management’s estimate. Allowance for Credit Losses on Unfunded Commitments The ACL on unfunded commitments is Management’s estimate of expected credit losses over the expected contractual term (or life) in which the Company is exposed to credit risk via a contractual obligation to extend credit, unless that obligation is unconditionally cancellable by the Company. For each portfolio, estimated loss rates and funding factors are applied to the corresponding balance of unfunded commitments. For each portfolio, the estimated loss rates applied to unfunded commitments are the same quantitative and qualitative loss rates applied to the corresponding on-balance sheet amounts in determining the ACL on loans. The estimated funding factor applied to unfunded commitments represents the likelihood that the funding will occur and is based upon the Company’s average historical utilization rate for each portfolio. The ACL on unfunded commitments is included in other liabilities in the Consolidated Balance Sheets. The ACL on unfunded commitments is adjusted through a provision for credit losses recognized in the Consolidated Statements of Income. Loan Commitments and Related Financial Instruments Financial instruments include off-balance sheet credit instruments, such as commitments to make loans and commercial letters of credit, issued to meet customer financing needs. The face amount for these items represents the exposure to loss, before considering customer collateral or ability to repay. Such financial instruments are recorded when they are funded. Property and Equipment Land is carried at cost. Buildings, leasehold improvements, and furniture and equipment are carried at cost, less accumulated depreciation and amortization, computed on the straight-line method over the estimated useful lives of the assets or the terms of the leases, if shorter. Expected terms include lease option periods to the extent that the exercise of such options is reasonably assured. Maintenance and repairs are charged to expense as incurred and improvements are capitalized. Leases 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 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 December 31, 2024, 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 13, Operating Lease Right-of-Use Assets and Liabilities, for further information. Retirement Plan Annuities Retirement plan annuities are reflected on the Consolidated Balance Sheets at the face amount of the policies. Changes in recorded value are reflected in income on retirement plan annuities on the Consolidated Statements of Income. Bank-owned Life Insurance Bank-owned life insurance policies are reflected on the Consolidated Balance Sheets at net cash surrender value. Changes in the net cash surrender value of the policies, as well as insurance proceeds received, are reflected in bank-owned life insurance income on the Consolidated Statements of Income and are not subject to income taxes. The Company is the beneficiary on these life insurance policies which are purchased for select employees of the Company. Employee Stock Ownership Plan (“ESOP”) Compensation expense for the Company’s ESOP is recorded at an amount equal to the shares committed to be allocated by the ESOP multiplied by the quarterly average fair market value of the shares during the year. The Company recognizes compensation expense ratably over the year based upon the Company’s estimate of the number of shares committed to be allocated by the ESOP. The difference between the average fair market value and the cost of the shares committed to be allocated by the ESOP is recorded as an adjustment to additional paid-in capital. Dividends on allocated ESOP shares reduce retained earnings; dividends on unearned ESOP shares reduce debt and accrued interest. Mortgage Servicing Rights When mortgage loans are sold with servicing retained, servicing rights are initially recorded at fair value with the income statement effect recorded in gains on sales of loans. Fair value is based on market prices for comparable mortgage servicing contracts, when available, or alternatively, is based on a valuation model that calculates the present value of estimated future net servicing income. Under the fair value measurement method, the Company measures servicing rights at fair value at each reporting date and reports changes in fair value of servicing assets in earnings in the period in which the changes occur and are included with changes in mortgage servicing rights fair value Servicing fee income, which is reported on the income statement as Mortgage banking income, Other income, Derivative Financial Instruments At the inception of a derivative contract, the Company designates the derivative as one of three types based on the Company’s intentions and belief as to the likely effectiveness as a hedge. These three types are (1) a hedge of the fair value of a recognized asset or liability or of an unrecognized firm commitment (“fair value hedge”), (2) a hedge of a forecasted transaction or the variability of cash flows to be received or paid related to a recognized asset or liability (“cashflow hedge”), of (3) an instrument with no hedging designation (“stand-alone derivative”). For a fair value hedge, the gain or loss on the derivative, as well as the offsetting loss or gain on the hedged item attributable to the hedged risk, are recognized in current earnings as fair values change. For a cashflow hedge, the gain or loss on the derivative is reported in other comprehensive income and reclassified into earnings in the same periods during which the hedged transaction affects earnings. Changes in the fair value of derivatives that do not qualify for hedge accounting are reported currently in earnings, as non-interest income. Net cash settlements on derivatives that qualify for hedge accounting are recorded in interest income or interest expense, based on the item being hedged. Net cash settlements on derivatives that do not qualify for hedge accounting are reported in non-interest income. Cash flows on hedges are classified in the cash flow statement the same as the cash flows of the items being hedged. The Company formally documents all relationships between derivatives and hedged items, as well as the risk-management objective and strategy for undertaking various hedge transactions. This documentation includes linking fair value or cashflow hedges to specific assets and liabilities on the balance sheet or to specific firm commitments or forecasted transactions. The Company also formally assesses, both at the hedge’s inception and on an ongoing basis, whether the derivative instruments that are used in hedging transactions are highly effective in offsetting changes in fair values or cash flows of the hedged items. The Company discontinues hedge accounting prospectively when it is determined that (1) the derivative is no longer effective in offsetting changes in the fair value or cash flows of the hedged item; (2) the derivative expires, is sold, or terminated; (3) the derivative instrument is de-designated as a hedge because the forecasted transaction is no longer probable of occurring; (4) a hedged firm commitment no longer meets the definition of a firm commitment; or (5) Management otherwise determines that designation of the derivative as a hedging instrument is no longer appropriate. When hedge accounting is discontinued, subsequent changes in fair value of the derivative are recorded as noninterest income. When a fair value hedge is discontinued, the hedged asset or liability is no longer adjusted for changes in fair value and the existing basis adjustment is amortized or accreted over the remaining life of the asset or liability. When a cashflow hedge is discontinued but the hedged cash flows or forecasted transaction is still expected to occur, changes in value that were accumulated in other comprehensive income are amortized or accreted into earnings over the same periods which the hedged transactions will affect earnings. The Company accounts for commitments to fund mortgage loans (interest rate locks) to be sold into the secondary market and forward commitments for the future delivery of these mortgage loans as free standing derivatives. The fair value of the interest rate lock is recorded at the time the commitment to fund the mortgage loan is executed and is adjusted for the expected exercise of the commitment before the loan is funded. In order to hedge the change in interest rates resulting from its commitments to fund the loans, the Company enters into forward commitments for the future delivery of mortgage loans when interest rate locks are entered into. Fair values of these mortgage derivatives are estimated based on changes in mortgage interest rates from the date the interest on the loan is locked. Changes in fair value are recorded as gain on sale of mortgage loans. The Company also enters into interest rate swap contracts to meet the financing needs of the Company’s commercial customers. Offsetting swap agreements are simultaneously transacted to effectively eliminate the Company’s market and interest rate risk associated with the swaps. Interest rate swaps are recognized on the Consolidated Balance Sheets in other assets and other liabilities with changes in their fair values recorded in other income. Transfers of Financial Assets Transfers of an entire financial asset, a group of entire financial assets, or a participating interest in an entire financial asset are accounted for as sales when control over the assets has been surrendered. Control over transferred assets is deemed to be surrendered when (1) the assets have been isolated from the Company, (2) the transferee obtains the right to pledge or exchange the transferred assets, and (3) the Company does not maintain effective control over the transferred assets. During the normal course of business, the Company may transfer a portion of a financial asset, for example, a participation loan or the government guaranteed portion of a loan. In order to be eligible for sale treatment, the transfer of the portion of the loan must meet the criteria of a participating interest. If it does not meet the criteria of a participating interest, the transfer must be accounted for as a secured borrowing. In order to meet the criteria for a participating interest, all cash flows from the loan must be divided proportionately, the rights of each loan holder must have the same priority, the loan holders must have no recourse to the transferor other

DEBT SECURITIES

DEBT SECURITIES	12 Months Ended
DEBT SECURITIES	Dec. 31, 2024
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 Allowance Amortized Unrealized Unrealized for Credit Fair Cost Gains Losses Losses Value (in thousands) December 31, 2024: Securities available for sale U.S. government and government-sponsored enterprise obligations $ 42,143 $ - $ 6,480 $ - $ 35,663 U.S. government agency and government-sponsored residential mortgage-backed securities 283,523 43 58,569 - 224,997 SBA asset-backed securities 1,446 - 64 - 1,382 Corporate bonds 2,000 13 151 - 1,862 Total securities available for sale $ 329,112 $ 56 $ 65,264 $ - $ 263,904 Securities held to maturity U.S. government and government-sponsored enterprise obligations $ 15,000 $ - $ 228 $ - $ 14,772 SBA asset-backed securities 4,627 - 114 - 4,513 Total securities held to maturity $ 19,627 $ - $ 342 $ - $ 19,285 Gross Gross Allowance Amortized Unrealized Unrealized for Credit Fair Cost Gains Losses Losses Value (in thousands) December 31, 2023: Securities available for sale U.S. government and government-sponsored enterprise obligations $ 47,143 $ - $ 6,961 $ - $ 40,182 U.S. government agency and government-sponsored residential mortgage-backed securities 300,277 3 54,683 - 245,597 U.S. government-sponsored collateralized mortgage obligations 1,852 - 70 - 1,782 SBA asset-backed securities 1,885 - 107 - 1,778 Corporate bonds 1,000 - 188 - 812 Total securities available for sale $ 352,157 $ 3 $ 62,009 $ - $ 290,151 Securities held to maturity U.S. government and government-sponsored enterprise obligations $ 15,000 $ - $ 438 $ - $ 14,562 SBA asset-backed securities 4,796 - 96 - 4,700 Total securities held to maturity $ 19,796 $ - $ 534 $ - $ 19,262 Accrued interest receivable is excluded from the amortized cost basis of debt securities. Accrued interest receivable totaled $958,000 and $940,000 as of December 31, 2024 and 2023, respectively. At December 31, 2024, available-for-sale debt securities with a fair value of $260.7 million and held-to-maturity securities with a fair value of $14.8 million were pledged as collateral to provide borrowing capacity through the Federal Reserve’s Discount Window. The amortized cost and fair value of debt securities by contractual maturity at December 31, 2024 is as follows: Available for Sale Held to Maturity Amortized Fair Amortized Fair Cost Value Cost Value (in thousands) After 1 year through 5 years $ 17,643 $ 15,693 $ 15,000 $ 14,772 After 5 years through 10 years 26,500 21,832 - - Over 10 years - - - - 44,143 37,525 15,000 14,772 U.S. government agency and government-sponsored residential mortgage-backed securities 283,523 224,997 - - SBA asset-backed securities 1,446 1,382 4,627 4,513 Total $ 329,112 $ 263,904 $ 19,627 $ 19,285 U.S. government-sponsored residential mortgage-backed securities and securities whose underlying assets are loans from the SBA have stated maturities of 2 two The following table shows proceeds and gross realized gains and losses related to the sales and calls of securities for the periods indicated: Year Ended December 31, 2024 2023 2022 (in thousands) Sales Proceeds $ 16,584 $ - $ - Gross gains - - - Gross losses 1,041 - - Information pertaining to securities with gross unrealized losses at December 31, 2024 and December 31, 2023 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) December 31, 2024: Securities available for sale U.S. government and government-sponsored enterprise obligations $ - $ - $ 6,480 $ 35,663 U.S. government agency and government-sponsored residential mortgage-backed securities 31 9,346 58,538 206,308 SBA asset-backed securities - - 64 1,382 Corporate bonds - - 151 849 $ 31 $ 9,346 $ 65,233 $ 244,202 Securities held to maturity U.S. government and government-sponsored enterprise obligations $ - $ - 228 14,772 SBA asset-backed securities 114 4,512 - - $ 114 $ 4,512 $ 228 $ 14,772 December 31, 2023: Securities available for sale U.S. government and government-sponsored enterprise obligations $ - $ - $ 6,961 $ 40,182 U.S. government agency and government-sponsored residential mortgage-backed securities - - 54,683 240,955 U.S. government-sponsored collateralized mortgage obligations - - 70 1,782 SBA asset-backed securities - - 107 1,778 Corporate bonds - - 188 812 $ - $ - $ 62,009 $ 285,509 Securities held to maturity U.S. government and government-sponsored enterprise obligations $ - $ - 438 14,562 SBA asset-backed securities 96 4,700 - - $ 96 $ 4,700 $ 438 $ 14,562 Management assesses the decline in fair value of investment securities on a regular basis. Unrealized losses on debt securities may occur from current market conditions, increases in interest rates since the time of purchase, a structural change in an investment, volatility of earnings of a specific issuer, or deterioration in credit quality of the issuer. Management evaluates both qualitative and quantitative factors to assess whether an impairment exists. As of December 31, 2024, the Company’s security portfolio consisted of 112 debt securities, 105 of which were in an unrealized loss position. The unrealized losses are primarily related to the Company’s debt securities that were issued by U.S. government-sponsored enterprises and agencies. The Company does not believe that the debt securities that were in an unrealized loss position as of December 31, 2024 represent a credit loss impairment. As of December 31, 2024 and December 31, 2023, the gross unrealized loss positions were primarily related to mortgage-backed securities and other obligations issued by U.S. government agencies or U.S. government-sponsored enterprises. These securities carry the explicit and/or implicit guarantee of the U.S. government and have a long history of zero credit loss. Total gross unrealized losses were primarily attributable to changes in interest rates relative to when the investment securities were purchased, and not due to the credit quality of the investment securities. Management reviewed the collectability of the corporate bonds taking into consideration such factors as the financial condition of the issuers, reported regulatory capital ratios of the issuers, credit ratings, including ratings in effect as of the reporting period date as well as credit rating changes between the reporting period date and the filing date of this report, and other information. Management believes the unrealized losses on the corporate bonds are primarily attributable to changes in the investment spreads and interest rates and not changes in the credit quality of the issuers of the corporate bonds. Management expects to recover the entire amortized cost basis of the available-for-sale debt securities with an unrealized loss. Furthermore, the Company does not intend to sell these securities, and it is unlikely that the Company will be required to sell these securities, before recovery of their cost basis, which may be at maturity. Therefore, no ACL was recorded at December 31, 2024. As of December 31, 2024, the held-to-maturity securities were U.S. government sponsored agency obligations. These securities are guaranteed by the government sponsored agency with a long history of no credit losses and Management has determined these securities to have a zero loss expectation and therefore does not estimate an ACL on these securities.

LOANS HELD FOR SALE

LOANS HELD FOR SALE	12 Months Ended
LOANS HELD FOR SALE	Dec. 31, 2024
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: December 31, December 31, 2024 2023 (in thousands) Loans held for sale, fair value $ 36,768 $ 19,686 Loans held for sale, contractual principal outstanding 36,205 19,155 Fair value less unpaid principal balance $ 563 $ 531 The Company has elected the fair value option for mortgage loans held for sale to better match changes in the 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 an increase of $32,000 in the year ended December 31, 2024 to $563,000, compared to an increase of $195,000 in the year ended December 31, 2023. 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 Consolidated Statements of Income. At December 31, 2024 and 2023, there were no loans held for sale that were greater than 90 days past due.

LOANS AND ALLOWANCE FOR CREDIT

LOANS AND ALLOWANCE FOR CREDIT LOSSES	12 Months Ended
LOANS AND ALLOWANCE FOR CREDIT LOSSES	Dec. 31, 2024
LOANS AND ALLOWANCE FOR CREDIT LOSSES
LOANS AND ALLOWANCE FOR CREDIT LOSSES	4. LOANS AND ALLOWANCE FOR CREDIT LOSSES A summary of the balances of loans follows: December 31, December 31, 2024 2023 (in thousands) Commercial: Commercial real estate $ 2,280,309 $ 2,343,675 Commercial construction 252,691 208,443 Commercial and industrial 594,453 466,443 Total commercial loans 3,127,453 3,018,561 Residential real estate: One- to four-family 1,506,571 1,513,554 Second mortgages and equity lines of credit 189,598 177,135 Residential real estate construction 11,307 18,132 Total residential real estate loans 1,707,476 1,708,821 Consumer loans: Auto 8,550 13,603 Personal 8,940 8,433 Total consumer loans 17,490 22,036 Total loans before basis adjustment 4,852,419 4,749,418 Basis adjustment associated with fair value hedge (1) 80 893 Total loans 4,852,499 4,750,311 Allowance for credit losses on loans (56,101) (47,972) Loans, net $ 4,796,398 $ 4,702,339 (1) Note 10 - Derivatives The net unamortized deferred loan origination fees and costs included in total loans and leases were $8.8 million and $8.5 million as of December 31, 2024 and 2023, respectively. 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 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 December 31, 2024 and 2023, the Company was servicing loans for participants in the aggregate amount of $431.4 million and $413.0 million, respectively. The following table presents the activity in the ACL on loans for the years ended December 31, 2024, 2023, and 2022: Second Mortgages Commercial and Residential Commercial Commercial and One-to-Four- Equity Lines Real Estate Real Estate Construction Industrial Family Credit Construction Consumer Unallocated Total (in thousands) Balance at December 31, 2021 $ 33,242 $ 2,010 $ 4,638 $ 3,631 $ 420 $ 69 $ 367 $ 1,000 $ 45,377 Adoption of Topic 326 (10,194) 1,698 2,288 5,198 391 185 123 (1,000) (1,311) Charge-offs (4,964) - (253) - - - (76) - (5,293) Recoveries 38 - 1,563 2 117 - 79 - 1,799 Provision 2,235 937 (1,000) 2,701 (4) 26 (231) - 4,664 Balance at December 31, 2022 $ 20,357 $ 4,645 $ 7,236 $ 11,532 $ 924 $ 280 $ 262 $ - $ 45,236 Charge-offs (4,171) - (166) - - - (89) - (4,426) Recoveries 4 - 309 1 88 - 71 - 473 Provision 5,098 179 728 568 (48) 138 26 - 6,689 Balance at December 31, 2023 $ 21,288 $ 4,824 $ 8,107 $ 12,101 $ 964 $ 418 $ 270 $ - $ 47,972 Charge-offs - - (628) - - - (154) - (782) Recoveries 103 40 59 2 7 - 11 - 222 Provision 9,373 (607) 3,162 (3,383) 377 (232) (1) - 8,689 Balance at December 31, 2024 $ 30,764 $ 4,257 $ 10,700 $ 8,720 $ 1,348 $ 186 $ 126 $ - $ 56,101 Individually analyzed loans include non-accrual loans and certain other loans based on the underlying risk characteristics and the discretion of Management to individually analyze such loans. As of December 31, 2024, the carrying value of individually analyzed loans amounted to $87.2 million, with a related allowance of $7.8 million and $67.2 million were considered collateral-dependent. As of December 31, 2023, the carrying value of individually analyzed loans amounted to $17.5 million, with a related allowance of $108,000, and $17.3 million were considered collateral-dependent. For collateral-dependent loans where Management has determined that foreclosure of the collateral is probable, or where the borrower is experiencing financial difficulty and repayment of the loan is to be provided substantially through the operation or sale of the collateral, the ACL is measured based on the difference between the fair value of the collateral and the amortized cost basis of the loan as of the measurement date. The following table presents the carrying value of collateral-dependent individually analyzed loans as of December 31, 2024 and 2023: December 31, 2024 December 31, 2023 Related Related Carrying Value Allowance Carrying Value Allowance (in thousands) Commercial: Commercial real estate $ 44,983 $ 5,426 $ 7,416 $ 5 Commercial and industrial 11,935 560 1,793 101 Commercial construction - - - - Total Commercial 56,918 5,986 9,209 106 Residential real estate 10,321 - 8,054 - Total $ 67,239 $ 5,986 $ 17,263 $ 106 The following is a summary of past due and non-accrual loans at December 31, 2024 and 2023: 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) December 31, 2024 Commercial real estate $ 3,803 $ 40 $ - $ 3,843 $ 16,836 Commercial construction - - - - - Commercial and industrial 8,273 684 1,269 10,226 2,204 Residential real estate: One- to four-family 8,589 7,014 6,670 22,273 9,545 Construction - - - - - Second mortgages and equity lines of credit 466 312 183 961 864 Consumer: Auto 52 10 - 62 - Personal 42 16 4 62 14 Total $ 21,225 $ 8,076 $ 8,126 $ 37,427 $ 29,463 December 31, 2023 Commercial real estate $ - $ - $ 5,751 $ 5,751 $ 7,416 Commercial construction - - - - - Commercial and industrial 247 166 1,332 1,745 1,791 Residential real estate: One- to four-family 4,704 2,413 4,418 11,535 7,785 Second mortgages and equity lines of credit 164 130 57 351 473 Consumer: Auto 96 69 4 169 4 Personal 16 5 31 52 44 Total $ 5,227 $ 2,783 $ 11,593 $ 19,603 $ 17,513 At December 31, 2024 and 2023, there were no loans past due 90 days or more and still accruing. At December 31, 2024 and 2023, there were no foreclosed assets. Repossessed assets were automobiles with a total recorded value of $10,000 and $69,000, respectively. All foreclosed and repossessed assets are held for sale. Residential mortgage loans in the process of foreclosure totaled $4.0 million and $2.1 million as of December 31, 2024 and 2023, respectively, and are reported in loans. Loan Modifications to Borrowers Experiencing Financial Difficulty The Bank will modify the contractual terms of loans to a borrower experiencing financial difficulties as a way to mitigate loss and to comply with regulations regarding bankruptcy and discharge situations. Modifications to borrowers experiencing financial difficulty may include interest rate reductions, principal or interest forgiveness, forbearances, term extensions, and other actions intended to minimize economic loss and to avoid foreclosure or repossession of collateral. The following table presents the amortized cost basis of loans at December 31, 2024 that were both experiencing financial difficulty and modified during the year ended December 31, 2024, by class and by type of modification. The percentage of the amortized cost basis of loans that were modified to borrowers in financial distress as compared to the amortized cost basis of each class of financing receivable is also presented below: Year Ended December 31, 2024 Combination Term Total Class Term Interest Rate Extension Interest Rate of Financing Extension Reduction Reduction Receivable (in thousands) Commercial real estate $ - $ 15,277 $ - 0.67 % Commercial and industrial 52 - - 0.01 % Residential real estate - - 106 0.01 % Total $ 52 $ 15,277 $ 106 The financial effect of the modifications to loans in the commercial real estate category was a reduced weighted-average contractual rate from 5.6% to 4%, and the financial effect of the modification to the loan in the commercial and industrial category was an additional 7.7 years to the life of the loan. The financial effect of the modification in the residential real estate category was a reduction in the contractual rate from 5.25% to 3.50% and an additional 31 years to the life of the loan. There were no material loan modifications based on borrower financial difficulty during the year ended December 31, 2023. The Company closely monitors the performance of loans that are modified to borrowers experiencing financial difficulty to understand the effectiveness of its modification efforts. As of December 31, 2024, modified loans to borrowers experiencing financial difficulty had a current payment status. During the year ended December 31, 2024, there were no loans to borrowers experiencing financial difficulty that had a payment default and were modified in the twelve months prior to that default. Default is determined at 90 or more days past due, upon charge-off, or upon foreclosure. Modified loans in default are individually evaluated for the allowance for credit losses or if the modified loan is deemed uncollectible, the loan, or a portion of the loan, is written off, and the allowance for credit losses is adjusted accordingly. Credit Quality Information Commercial real estate, commercial construction and commercial and industrial loans are rated using a ten-grade internal loan rating system: 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, on the basis of currently existing facts, make the collection in full by payment or liquidation, highly questionable and improbable. Loans rated 10 are considered “uncollectible” (loss), and of such little value that their continuance as loans is not warranted. On an annual basis, or more often if needed, the Company formally reviews on a risk adjusted basis, the ratings on substantially all commercial real estate, construction and commercial and industrial 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. The credit quality of residential real estate, residential construction, and consumer installment portfolios is evaluated monthly primarily through the use of delinquency reports. Revolving Revolving Loans Loans Converted Term Loans at Amortized Cost by Origination Year Amortized to Term 2024 2023 2022 2021 2020 Prior Cost Loans Total (in thousands) As of December 31, 2024 Commercial real estate Pass $ 82,833 $ 162,401 $ 743,173 $ 433,482 $ 190,543 $ 525,120 $ - $ - $ 2,137,552 Special mention - 6,872 39,614 7,539 12,077 12,149 - - 78,251 Substandard - 6,598 44,191 - - 13,717 - - 64,506 Doubtful - - - - - - - - - Total commercial real estate 82,833 175,871 826,978 441,021 202,620 550,986 - - 2,280,309 YTD gross charge-offs - - - - - - - - - Commercial and industrial Pass 80,926 78,767 72,636 82,638 63,043 93,493 104,897 - 576,400 Special mention 5 - 1,703 - - 1,279 2,783 - 5,770 Substandard - 178 2,874 3,844 - 3,841 260 - 10,997 Doubtful - - - - - 1,237 49 - 1,286 Total commercial and industrial 80,931 78,945 77,213 86,482 63,043 99,850 107,989 - 594,453 YTD gross charge-offs 69 26 303 122 74 34 - - 628 Commercial construction Pass 31,074 45,739 82,447 73,657 - - 1,972 - 234,889 Special mention - - 17,802 - - - - - 17,802 Substandard - - - - - - - - - Doubtful - - - - - - - - - Total commercial construction 31,074 45,739 100,249 73,657 - - 1,972 - 252,691 YTD gross charge-offs - - - - - - - - - Residential real estate Accrual 85,268 125,741 413,118 452,081 192,734 246,206 179,516 2,403 1,697,067 Non-accrual - - 469 673 113 8,572 577 5 10,409 Total residential real estate 85,268 125,741 413,587 452,754 192,847 254,778 180,093 2,408 1,707,476 YTD gross charge-offs - - - - - - - - - Consumer Accrual 7,134 4,040 3,186 1,113 279 720 1,004 - 17,476 Non-accrual 3 - 11 - - - - - 14 Total Consumer 7,137 4,040 3,197 1,113 279 720 1,004 - 17,490 YTD gross charge-offs - 63 35 25 10 21 - - 154 Total loans before basis adjustment $ 287,243 $ 430,336 $ 1,421,224 $ 1,055,027 $ 458,789 $ 906,334 $ 291,058 $ 2,408 $ 4,852,419 Total YTD gross charge-offs $ 69 $ 89 $ 338 $ 147 $ 84 $ 55 $ - $ - $ 782 The following table summarizes the Company’s loan portfolio by credit quality indicator and loan portfolio segment as of December 31, 2023: Revolving Revolving Loans Loans Converted Term Loans at Amortized Cost by Origination Year Amortized to Term 2023 2022 2021 2020 2019 Prior Cost Loans Total (in thousands) As of December 31, 2023 Commercial real estate Pass $ 152,047 $ 828,335 $ 455,996 $ 234,585 $ 233,713 $ 405,103 $ - $ - $ 2,309,779 Special mention - 10,971 - 4,300 8,977 2,232 - - 26,480 Substandard - - - - - 1,670 - - 1,670 Doubtful - - - - - 5,746 - - 5,746 Total commercial real estate 152,047 839,306 455,996 238,885 242,690 414,751 - - 2,343,675 YTD gross charge-offs - - - - - 4,171 - - 4,171 Commercial and industrial Pass 73,240 52,190 94,570 70,565 22,988 75,493 74,125 - 463,171 Special mention - 454 4 23 2 948 50 - 1,481 Substandard - 52 8 - - 367 18 - 445 Doubtful - - - - - 1,297 49 - 1,346 Total commercial and industrial 73,240 52,696 94,582 70,588 22,990 78,105 74,242 - 466,443 YTD gross charge-offs 24 113 14 5 8 2 - - 166 Commercial construction Pass 35,181 109,291 60,113 843 - - 425 - 205,853 Special mention - 2,590 - - - - - - 2,590 Substandard - - - - - - - - - Doubtful - - - - - - - - - Total commercial construction 35,181 111,881 60,113 843 - - 425 - 208,443 YTD gross charge-offs - - - - - - - - - Residential real estate Accrual 138,541 434,421 480,010 202,118 38,675 239,185 166,144 1,469 1,700,563 Non-accrual - - - 127 956 6,959 216 - 8,258 Total residential real estate 138,541 434,421 480,010 202,245 39,631 246,144 166,360 1,469 1,708,821 YTD gross charge-offs - - - - - - - - - Consumer Accrual 8,218 5,366 2,254 1,021 3,135 963 1,031 - 21,988 Non-accrual 14 18 5 - 2 4 5 - 48 Total Consumer 8,232 5,384 2,259 1,021 3,137 967 1,036 - 22,036 YTD gross charge-offs 7 16 4 15 18 29 - - 89 Total loans before basis adjustment $ 407,241 $ 1,443,688 $ 1,092,960 $ 513,582 $ 308,448 $ 739,967 $ 242,063 $ 1,469 $ 4,749,418 Total YTD gross charge-offs $ 31 $ 129 $ 18 $ 20 $ 26 $ 4,202 $ - $ - $ 4,426

MORTGAGE LOAN SERVICING

MORTGAGE LOAN SERVICING	12 Months Ended
MORTGAGE LOAN SERVICING	Dec. 31, 2024
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 Consolidated Balance Sheets. The risks inherent in MSRs relate primarily to changes in prepayments that generally result from shifts in mortgage interest rates. The unpaid principal balances of mortgage loans serviced for others were $3.36 billion and $3.56 billion as of December 31, 2024 and 2023, respectively. The Company accounts for MSRs at fair value. The Company obtains and reviews valuations from an independent third party to determine the fair value of MSRs. Key assumptions used in the estimation of fair value include prepayment speeds, discount rates, and default rates. At December 31, 2024 and 2023, the following weighted average assumptions were used in the calculation of fair value of MSRs: December 31, December 31, 2024 2023 Prepayment speed 7.67 % 7.60 % Discount rate 9.97 9.81 Default rate 1.83 2.27 The following summarizes changes to MSRs for the years ended December 31, 2024, 2023 and 2022: Year Ended December 31, 2024 2023 2022 Balance, beginning of period $ 46,111 $ 48,138 $ 38,268 Additions 1,107 2,657 4,538 Changes in fair value due to: Reductions from loans paid off during the period (2,176) (1,981) (2,921) Changes in valuation inputs or assumptions (542) (2,703) 8,253 Balance, end of period $ 44,500 $ 46,111 $ 48,138

PROPERTY AND EQUIPMENT

PROPERTY AND EQUIPMENT	12 Months Ended
PROPERTY AND EQUIPMENT	Dec. 31, 2024
PROPERTY AND EQUIPMENT
PROPERTY AND EQUIPMENT	6. PROPERTY AND EQUIPMENT A summary of the cost and accumulated depreciation of property and equipment follows: December 31, 2024 2023 (in thousands) Land $ 12,053 $ 12,053 Buildings and leasehold improvements 49,615 49,355 Furniture, equipment and vehicles 18,401 18,762 Fixed assets in process 14 408 80,083 80,578 Less accumulated depreciation and amortization (33,830) (31,829) Property and equipment, net $ 46,253 $ 48,749 Depreciation and amortization expense amounted to $3.7 million, $3.8 million and $3.9 million for the years ended December 31, 2024, 2023 and 2022, respectively. During the year ended December 31, 2023, the land and a building of two properties with a total net book value of $966,000 were transferred to assets held for sale. Both properties were sold, one in 2024 with a recognized gain of $1.8 million and one in 2023 with a recognized gain of $305,000. At December 31, 2024 and 2023, fixed assets in process represents building improvements and equipment not placed in service.

GOODWILL AND OTHER INTANGIBLE A

GOODWILL AND OTHER INTANGIBLE ASSETS	12 Months Ended
GOODWILL AND OTHER INTANGIBLE ASSETS	Dec. 31, 2024
GOODWILL AND OTHER INTANGIBLE ASSETS
GOODWILL AND OTHER INTANGIBLE ASSETS	7. GOODWILL AND OTHER INTANGIBLE ASSETS Goodwill As of December 31, 2024 and 2023 the carrying value of goodwill at the Bank was $59.0 million. In connection with the Company’s annual goodwill impairment test as of October 31, 2024, management tested goodwill for the Bank, utilizing a qualitative impairment test. The Company determined that it was more likely than not that the estimated fair value of the Bank reporting unit exceeded its carrying value as of October 31, 2024. Even though the Company determined that there was no goodwill impairment, a sustained decline in the value of its stock price as well as values of other financial institutions, declines in revenue for the Company beyond our current forecasts, or significant adverse changes in the operating environment for the financial industry may result in a future impairment charge. For the year ended December 31, 2023 the Company recorded $10.8 million of goodwill impairment for HarborOne Mortgage, representing 100% of the goodwill balance for the HarborOne Mortgage reporting unit. Core Deposit Intangible The Company’s change in the gross amount of core deposit intangibles and the related accumulated amortization consisted of the following: December 31, 2024 2023 (in thousands) Gross amount of CDI: Balance, beginning of period $ 8,952 $ 8,952 Additions due to acquisitions - - Balance, end of period 8,952 8,952 Accumulated amortization: Balance, beginning of period (7,437) (6,680) Amortization (758) (757) Balance, end of period (8,195) (7,437) Net CDI, end of period $ 757 $ 1,515 The estimated aggregate amortization expense related to the Company’s core deposit intangible assets is $757,000 and it will fully amortize in 2025. The weighted average original amortization period was 7.3 years.

DEPOSITS

DEPOSITS	12 Months Ended
DEPOSITS	Dec. 31, 2024
DEPOSITS
DEPOSITS	8. DEPOSITS A summary of deposit balances, by type, is as follows: December 31, December 31, 2024 2023 (in thousands) NOW and demand deposit accounts $ 988,984 $ 965,798 Regular savings and club accounts 895,232 1,265,315 Money market deposit accounts 1,195,209 966,201 Total non-certificate accounts 3,079,425 3,197,314 Term certificate accounts greater than $250,000 303,334 240,702 Term certificate accounts less than or equal to $250,000 766,510 622,755 Brokered deposits 401,484 326,638 Total certificate accounts 1,471,328 1,190,095 Total deposits $ 4,550,753 $ 4,387,409 Total municipal deposits included in the table amounted to $519.5 million and $471.8 million at December 31, 2024 and 2023, respectively. Municipal deposits are generally required to be fully insured. The Company provides supplemental insurance for municipal deposits through a reciprocal deposit program and letters of credit offered by the FHLB. DIF was exited February 24, 2023 and provided coverage until February 24, 2024 on deposits that existed at the exit date. 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 December 31, 2024 and 2023, total reciprocal deposits were $376.3 million and $209.4 million, respectively, consisting primarily of non-certificate accounts. A summary of certificate accounts by maturity at December 31, 2024 is as follows: Weighted Average Amount Rate (dollars in thousands) Within 1 year $ 1,284,802 4.63 % Over 1 year to 2 years 155,744 4.27 Over 2 years to 3 years 27,401 4.15 Over 3 years to 4 years 1,893 3.44 Over 4 years to 5 years 1,488 3.48 Total certificate deposits $ 1,471,328 4.58 %

BORROWINGS

BORROWINGS	12 Months Ended
BORROWINGS	Dec. 31, 2024
BORROWINGS
BORROWINGS	9. Borrowed funds at December 31, 2024 and 2023 consist of FHLB advances. Short-term advances were $212.0 million, with a weighted average rate of 4.50% , and $303.0 million, with a weighted average rate of 5.53% , at December 31, 2024 and 2023, respectively. Long-term advances are summarized by maturity date below: December 31, 2024 December 31, 2023 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: 2024 $ - $ - - % $ 13,400 163,400 1.39 % 2025 60,987 230,987 4.32 90,987 60,987 4.31 2026 75,000 40,000 4.39 110,000 40,000 4.20 2027 85,000 - 4.17 10,000 — 3.72 2028 59,198 19,198 4.04 40,000 — 3.86 2029 23,128 13,128 4.06 - — - 2030 and thereafter 1,242 1,242 1.68 1,075 1,075 2.00 $ 304,555 $ 304,555 4.21 % $ 265,462 $ 265,462 4.02 % * Includes an amortizing advance requiring monthly principal and interest payments. (1) (2) 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 commercial real estate loans held in the Bank’s portfolio. The carrying value of the loans pledged as collateral for these borrowings totaled $2.16 billion and $2.02 billion at December 31, 2024 and 2023, respectively. As of December 31, 2024, the Company had $656.2 million of available borrowing capacity with the FHLB. Certain municipal deposits require collateralization that is provided by FHLB Letters of Credit. At December 31, 2024 there were $240.6 million in outstanding Letters of Credit. The Federal Reserve Discount Window extends credit based on eligible collateral. At December 31, 2024, the Bank had $630.1 million of borrowing capacity at the FRBB secured by pledged loans and securities whose collateral value was $364.1 million and $266.0 million, respectively. At December 31, 2024, there was no balance outstanding. The Company also has additional borrowing capacity under a $25.0 million unsecured federal funds line with a correspondent bank. On December 1, 2023, the Company fully redeemed its 5.625% Fixed-to-Floating Rate Subordinated Notes due September 1, 2028 and expensed the remaining unamortized issuance costs. Amortization of issuance costs was $0, $715,000, and $126,000 for the years ended December 31, 2024, 2023 and 2022, respectively.

INCOME TAXES

INCOME TAXES	12 Months Ended
INCOME TAXES	Dec. 31, 2024
INCOME TAXES
INCOME TAXES	10. INCOME TAXES Allocation of the federal and state income taxes between current and deferred portions for the years ended December 31, 2024, 2023 and 2022 are as follows: 2024 2023 2022 (in thousands) Current tax provision: Federal $ 8,455 $ 7,264 $ 8,962 State 3,448 3,562 4,016 11,903 10,826 12,978 Deferred tax provision(benefit): Federal (3,583) (1,255) 2,000 State (1,470) (523) 1,162 (5,053) (1,778) 3,162 Income tax provision $ 6,850 $ 9,048 $ 16,140 The reasons for the differences between the statutory federal income tax and the actual income tax provision for the years ended December 31, 2024, 2023 and 2022 are summarized as follows: 2024 2023 2022 (dollars in thousands) Statutory tax rate 21% 21% 21% Statutory tax provision $ 7,194 $ 5,276 $ 12,963 Increase (decrease) resulting from: State taxes, net of federal tax benefit 1,564 2,401 4,092 Bank-owned life insurance (640) (236) (416) Employee stock ownership plan expenses 173 139 303 Tax-exempt income (756) (503) (932) Goodwill impairment - 2,260 - Net addition (reduction) in uncertain federal tax positions (541) 6 (115) Amended return benefit (508) - - Other, net 364 (295) 245 Income tax provision $ 6,850 $ 9,048 $ 16,140 The deferred tax asset is included in Other Assets on the Consolidated Balance Sheet. The tax effects of each item that give rise to deferred taxes at December 31, 2024 and 2023 are as follows: 2024 2023 (in thousands) Deferred tax assets: Allowance for credit losses $ 16,743 $ 14,851 Employee benefit plans 6,280 6,479 Mark-to-market loans 733 899 Accrued expenses not deducted for tax purposes 754 832 HarborOne Mortgage loan repurchase reserve 835 852 Net unrealized loss on securities available for sale 14,534 14,550 Operating lease liability 6,371 7,019 Other 949 519 47,199 46,001 Deferred tax liabilities: Derivatives (331) (2,457) Deferred income annuities (596) (1,370) Depreciation and amortization (1,077) (1,470) Deferred loan fees (4,351) (4,445) Mortgage servicing rights (12,499) (13,201) Right of use asset (5,884) (6,547) Core deposit intangible (213) (433) Other - - (24,951) (29,923) Net deferred tax asset $ 22,248 $ 16,078 A summary of the change in the net deferred tax asset (liability) for the years ended December 31, 2024, 2023 and 2022 is as follows: 2024 2023 2022 (in thousands) Balance at beginning of year $ 16,078 $ 13,872 $ 3,975 Deferred tax (provision) benefit 5,053 1,778 (3,162) Adoption of CECL - - 736 Change in directors' retirement plan - - (59) Change in cash flow hedge 1,133 923 (1,862) Change in securities available for sale (16) (495) 14,244 Balance at end of year $ 22,248 $ 16,078 $ 13,872 The Company’s income tax returns are subject to review and examination by federal and state taxing authorities. The Company is currently open to audit under the applicable statutes of limitations by the Internal Revenue Service (“IRS”) and the state taxing authorities for the years ended December 31, 2021 through 2024. During 2024, tax benefits were recorded on the Company’s financial statements to reflect the income tax benefit for tax-exempt interest not previously recognized and amounts owed related to an Employee Retention Tax Credit refund claim. Amended tax returns are being filed for 2020 through 2022 to reflect this net impact of these changes. The tax benefit is approximately $508,000. A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows: 2024 2023 2022 (in thousands) Balance at beginning of year $ 610 $ 599 $ 655 Additions based on tax positions related to current year - - - Additions for tax positions for prior years 5 142 244 Reductions for tax positions for prior years (546) (131) (300) Settlements - - - Balance at end of year $ 69 $ 610 $ 599 The balance of unrecognized tax benefits, the amount of related interest accrued and what Management believes to be the range of reasonably possible changes in the next 12 months, are: Unrecognized tax benefits $ 59 Accrued interest on unrecognized tax benefits 10 Portion that, if recognized, would reduce tax expense and effective tax rate 69 Reasonably possible reduction to the balance of unrecognized tax in subsequent year 69 Portion that, if recognized, would reduce tax expense and effective tax rate 69 In assessing the realizability of deferred tax assets, Management considers whether it is more likely than not that some or all of the deferred tax assets will not be realized. The ultimate realization of deferred tax assets is dependent upon the generation of future taxable income during the periods in which those temporary differences become deductible. Management considers the scheduled reversal of deferred tax liabilities, projected future taxable income and tax planning strategies in making this assessment. Based on the level of historical taxable income and projections for future taxable income over the periods the deferred tax assets are expected to be deductible, Management believes it is more likely than not that its deferred tax assets are realizable. It should be noted, however, that factors beyond Management’s control, such as the general economy and real estate values, can affect future levels of taxable income, and no assurance can be given that sufficient taxable income will be generated to fully absorb gross deductible temporary differences.

OTHER COMMITMENTS AND CONTINGEN

OTHER COMMITMENTS AND CONTINGENCIES	12 Months Ended
OTHER COMMITMENTS AND CONTINGENCIES	Dec. 31, 2024
OTHER COMMITMENTS AND CONTINGENCIES
OTHER COMMITMENTS AND CONTINGENCIES	11. OTHER COMMITMENTS AND CONTINGENCIES ACL on Unfunded Commitments The ACL on unfunded commitments amounted to $3.5 million and $3.9 million at December 31, 2024 and 2023, respectively. The activity in the ACL on unfunded commitments for the years ended December 31, 2024 and 2023 is presented below: Commercial Commercial Commercial Residential Real Estate Construction and Industrial Real Estate Consumer Total (in thousands) Balance at December 31, 2021 $ - $ - $ - $ - $ - $ - Adoption of Topic 326 380 2,561 658 318 14 3,931 Provision 248 518 212 18 - 996 Balance at December 31, 2022 $ 628 $ 3,079 $ 870 $ 336 $ 14 $ 4,927 Provision (217) (728) 12 (82) 6 (1,009) Balance at December 31, 2023 $ 411 $ 2,351 $ 882 $ 254 $ 20 $ 3,918 Provision 536 (953) (89) 105 (11) (412) Balance at December 31, 2024 $ 947 $ 1,398 $ 793 $ 359 $ 9 $ 3,506 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 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 December 31, 2024 and 2023. The contract amounts represent credit risk. December 31, December 31, 2024 2023 (in thousands) Commitments to grant residential real estate loans-HarborOne Mortgage $ 38,929 $ 35,029 Commitments to grant other loans 25,191 48,547 Unadvanced funds on home equity lines of credit 281,890 260,376 Unadvanced funds on revolving lines of credit 270,735 306,943 Unadvanced funds on construction loans 166,726 210,829 Commitments to extend credit and unadvanced portions 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. Employment Agreement The Company has an employment agreement with an executive officer. The term of the agreement commenced on the effective date of the signed agreement and continues thereafter until terminated, as defined by the agreement. The agreement generally provides for a specified minimum annual compensation and the continuation of benefits currently received. However, such employment can be terminated for cause, as defined, without incurring any continuing obligations. In addition, the agreement provides for severance payment to the officer following a change in control, as defined. Reserve for Residential Mortgage Loan Repurchase Losses The Company sells residential mortgage loans on a “whole-loan” basis to Fannie Mae and Freddie Mac, and to non-agency investors. These loan sales occur under industry standard contractual provisions that include various representations and warranties, which typically cover ownership of the loan, compliance with loan criteria set forth in the applicable agreement, validity of the lien securing the loan and other similar matters. The Company may be required to repurchase certain loans sold with identified defects, indemnify the investor, or reimburse the investor for any credit losses incurred. The Company establishes mortgage repurchase reserves related to various representations and warranties that reflect Management’s estimate for which we have a repurchase obligation. The reserves are established by a charge to loan expenses in our Consolidated Statements of Income. At December 31, 2024 and 2023, this reserve totaled $3.0 million and $3.0 million, respectively, and it is included in other liabilities and accrued expenses on the Consolidated Balance Sheets. The repurchase reserve is applicable to loans the Company originated and sold with representations and warranties, which is representative of the entire sold portfolio. The repurchase loss liability is estimated by origination year and to the extent that repurchase demands are made by investors, we may be able to successfully appeal such repurchase demands. The reserve considers anticipated future losses and the Company’s lack of historical experience with the make-whole demands. The reserve for residential mortgage loan repurchase losses represents our best estimate of the probable loss that we may incur due to the representations and warranties in our loan sales contracts with investors. Repurchase losses depend upon economic factors and other external conditions that may change over the life of the underlying loans. Additionally, lack of access to the servicing records of loans sold on a service-released basis adds difficulty to the estimation process. To the extent that future investor repurchase demand and appeals success differ from past experience, the Company could have increased demands and increased loss severities on repurchases, causing future additions to the repurchase reserve. Certain loans were sold with recourse provisions, and at December 31, 2024 and 2023, the related maximum contingent liability related to loans sold amounted to $305,000 each year. Based on discounted cash flow of projected losses on sold loans in this portfolio at December 31, 2024 and 2023, the Company had no recourse liability. Other During the fiscal year ended December 31, 2024, the Company was not involved in any material pending legal proceedings as a plaintiff or as a defendant other than routine legal proceedings occurring in the ordinary course of business. Management believes that those routine legal proceedings involve, in the aggregate, amounts that are immaterial to the Company’s financial condition or results of operations.

DERIVATIVES

DERIVATIVES	12 Months Ended
DERIVATIVES	Dec. 31, 2024
DERIVATIVES
DERIVATIVES	12. 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. Derivatives Designated as Hedging Instruments Fair Value Hedge As of December 31, 2024, the Company had two interest rate swap agreements with a notional amount of $100.0 million that were designated as a fair value hedge of fixed-rate residential mortgages. The hedges were determined to be effective during the year ended December 31, 2024, and the Company expects the hedges to remain effective during the remaining terms of the swaps. The following amounts were recorded on the Consolidated Balance Sheets related to the cumulative basis adjustment for fair value hedges as of the dates indicated: Cumulative Amount of Fair Value Hedging Adjustment Included in the Line Item in the Consolidated Balance Sheets Carrying Amount of the Hedged Carrying Amount of the Hedged in Which the Hedged Item is Included Assets Assets December 31, December 31, December 31, December 31, 2024 2023 2024 2023 (in thousands) Loans held for investment (1) $ 100,080 $ 100,893 $ 80 $ 893 Total $ 100,080 $ 100,893 $ 80 $ 893 (1) Cashflow Hedge As of December 31, 2024, the Company had one interest rate swap agreement with a notional amount of $100.0 million that was designated as a cashflow hedge of brokered deposits. The interest rate swap agreement has an average maturity of 0.27 years, the current weighted average fixed rate paid is 0.67%, the weighted average three-month SOFR swap receive rate is 4.986% and the fair value is $1.0 million. The Company expects approximately $1.0 million related to the cashflow hedge to be reclassified to interest expense, from other comprehensive income, in the next twelve months. Derivatives Not Designated as Hedging Instruments Derivative Loan Commitments - 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 - With a “mandatory delivery” contract, the Company commits to deliver a certain principal amount of mortgage loans to an investor at a specified price on or before a specified date. If the Company fails to deliver the amount of mortgages necessary to fulfill the commitment by the specified date, it is obligated to pay a “pair-off” fee, based on then-current market prices, to the investor to compensate the investor for the shortfall. With a “best efforts” contract, the Company commits to deliver an individual mortgage loan of a specified principal amount and quality to an investor if the loan to the underlying borrower closes. Generally, the price the investor will pay the seller for an individual loan is specified prior to the loan being funded ( e.g. 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 - Interest Rate Futures - Risk Participation Agreements - The following tables present the outstanding notional balances and fair values of outstanding derivative instruments: Assets Liabilities Notional Fair Fair Amount Value Value (in thousands) December 31, 2024: Derivatives designated as hedging instruments Fair value hedge - interest rate swaps $ 100,000 $ 112 $ 84 Cashflow hedge - interest rate swap 100,000 1,040 - Total derivatives designated as hedging instruments $ 1,152 $ 84 Derivatives not designated as hedging instruments Derivative loan commitments $ 38,929 $ 374 $ 61 Forward loan sale commitments 50,500 382 4 Interest rate swaps 1,015,448 23,021 23,021 Risk participation agreements 216,245 - - Interest Rate Futures 35,400 - 376 Total derivatives not designated as hedging instruments $ 23,777 $ 23,462 Total derivatives $ 24,929 $ 23,546 December 31, 2023: Derivatives designated as hedging instruments Fair value hedge - interest rate swaps $ 100,000 $ - $ 855 Cashflow hedge - interest rate swap 100,000 5,095 - Total derivatives designated as hedging instruments $ 5,095 $ 855 Derivatives not designated as hedging instruments Derivative loan commitments $ 30,165 $ 480 $ 158 Forward loan sale commitments 30,000 4 293 Interest rate swaps 863,348 23,245 23,245 Risk participation agreements 189,275 - - Total derivatives not designated as hedging instruments $ 23,729 $ 23,696 Total derivatives $ 28,824 $ 24,551 The following table presents the recorded net gains and losses pertaining to the Company’s derivative instruments: Location of gain (loss) recognized in Year Ended December 31, Income 2024 2023 2022 Derivatives designated as fair value hedge Hedged items - loans Interest income $ (814) $ 893 $ - Interest rate swap contracts Interest income 883 (855) - Total $ 69 $ 38 $ - Derivatives not designated as hedging instruments Derivative loan commitments Mortgage banking income $ (10) $ 150 $ (1,259) Forward loan sale commitments Mortgage banking income 668 (500) 248 Interest rate futures Mortgage banking income (986) - - Interest rate swaps Other income - - 330 Total $ (328) $ (350) $ (681) The effect of cashflow hedge accounting on accumulated other comprehensive income is as follows: Year Ended December 31, 2024 2023 2022 Derivatives designated as hedging instruments (Loss) gain in OCI on derivatives (effective portion), net of tax $ (2,895) $ (2,314) $ 4,783 Gain (loss) reclassified from OCI into interest income or interest expense (effective portion) $ 4,883 $ 4,622 $ 1,164 Gross Amounts Not Offset in the Consolidated Balance Sheets Net Amounts Gross Amounts Gross Amounts Assets (Liabilities) Cash of Recognized Offset in the presented in the Collateral Assets Consolidated Consolidated Financial (Received) Net (Liabilities) Balance Sheets Balance Sheets Instruments Posted Amount (in thousands) Derivatives designated as hedging instruments Interest rate swap on deposits $ 1,040 $ - $ 1,040 $ - $ (1,040) $ - Interest rate swaps on residential real estate loans $ 28 $ - $ 28 $ - $ - $ 28 Derivatives not designated as hedging instruments Customer interest rate swaps $ 21,824 $ - $ 21,824 $ - $ (6,560) $ 15,264

OPERATING LEASE RIGHT-OF-USE AS

OPERATING LEASE RIGHT-OF-USE ASSETS AND LIABILITIES	12 Months Ended
OPERATING LEASE RIGHT-OF-USE ASSETS AND LIABILITIES	Dec. 31, 2024
OPERATING LEASE RIGHT-OF-USE ASSETS AND LIABILITIES
OPERATING LEASE RIGHT-OF-USE ASSETS AND LIABILITIES	13. OPERATING LEASE RIGHT-OF-USE ASSETS AND LIABILITIES Operating lease ROU assets, included in other assets, were $20.9 million and $22.9 million at December 31, 2024 and 2023, respectively. Operating lease liabilities, included in other liabilities and accrued expenses, were $22.7 million and $24.5 million at December 31, 2024 and 2023, respectively. As of December 31, 2024 and 2023, there were no leases that had not yet commenced. At December 31, 2024, lease expiration dates ranged from two months to 33.2 years and have a weighted average remaining lease term of 15.9 16.2 Future minimum lease payments under non-cancellable leases and a reconciliation to the amount recorded as operating lease liabilities as of December 31, 2024 were as follows: December 31, 2024 (in thousands) 2025 $ 2,829 2026 2,661 2027 2,536 2028 2,293 2029 2,045 Thereafter 15,084 Total lease payments 27,448 Imputed interest (4,765) Total present value of operating lease liabilities $ 22,683 The weighted-average discount rate and remaining lease term for operating leases were as follows: December 31, 2024 December 31, 2023 Weighted-average discount rate 2.15 % 2.08 % Weighted-average remaining lease term (years) 15.85 16.24 Rental expense for operating leases is recognized on a straight-line basis over the lease term. 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: Year Ended December 31, 2024 2023 2022 Lease Expense: Operating lease expense $ 2,868 $ 3,123 $ 3,301 Short-term lease expense 116 135 138 Variable lease expense 21 15 - Sublease income - (12) (13) Total lease expense $ 3,005 $ 3,261 $ 3,426 Other Information Cash paid for amounts included in the measurement of lease liabilities- operating cash flows for operating leases 2,898 3,143 3,261 Operating Lease - Operating cash flows (Liability reduction) 2,410 2,609 2,722 ROU assets obtained in exchange for new operating lease liabilities 489 606 3,257

COMPENSATION AND BENEFIT PLANS

COMPENSATION AND BENEFIT PLANS	12 Months Ended
COMPENSATION AND BENEFIT PLANS	Dec. 31, 2024
COMPENSATION AND BENEFIT PLANS
COMPENSATION AND BENEFIT PLANS	14. Defined Contribution Plan The Company provides saving plans which qualify under Section 401(k) of the Internal Revenue Code and provides for voluntary contributions by participating employees up to the maximum amount permitted by law. For the years ended December 31, 2024, 2023 and 2022, the Bank contributed 3%, 3% and 4%, respectively, of each eligible employee’s compensation up to the social security wage base. For the year ended December 31, 2024, HarborOne Mortgage matched 50% of the first 4% of employee contributions up to a maximum of $500. For the years ended December 31, 2023 and 2022, HarborOne Mortgage matched 50% of the first 4% of employee contributions up to a maximum of $2,000. Contributions expensed were $1.1 million, $1.2 million and $1.6 million for the years ended December 31, 2024, 2023 and 2022, respectively. Management Incentive Program The Company maintains incentive compensation plans for senior management and other employees to participate in at varying levels. In addition, the Company may also pay a discretionary bonus to senior management, officers, and/or non-officers of the Company. These programs are administered by the Compensation Committee of the Board of Directors. The expense for the incentive plans amounted to $2.4 million, $2.5 million and $4.1 million for the years ended December 31, 2024, 2023 and 2022, respectively. Supplemental Retirement Plans The Company provides supplemental retirement benefits to one senior executive officer and one retired senior executive officer of the Company under the terms of Supplemental Executive Retirement Plan Agreement (the “SERPs”). Benefits to be paid under the SERPs are based primarily on the officer’s compensation and estimated mortality. At December 31, 2024, 2023 and 2022, included in other liabilities and accrued expenses is the Company’s obligation under the SERPs of $10.3 million, $10.8 million and $10.1 million, respectively. The retirement benefits, as defined in the SERPs, are accrued by charges to compensation expense over the required service periods of the officers. Expense related to these benefits was $497,000, $1.0 million and $1.5 million for the years ended December 31, 2024, 2023 and 2022, respectively. Split-Dollar Life Insurance Arrangement The Company has an endorsement split-dollar life insurance agreement with a retired executive officer whereby the Company will pay to the retired executives’ estates or beneficiaries a portion of the death benefit that the Company will receive as beneficiary of such policy. At December 31, 2024, 2023 and 2022, included in other liabilities and accrued expenses is the Company’s obligation under the arrangement of $382,000, $389,000 and $394,000, respectively. There was no expense for this benefit for the years ended December 31, 2024 and 2023. Expense associated with this post-retirement benefit for the year ended December 31, 2022 amounted to $42,000. The cash surrender value of the policy is included in bank-owned life insurance on the Consolidated Balance Sheets. Deferred Compensation Plans The Company is the sole owner of an annuity policy pertaining to one of the Company’s executives that is included in retirement plan annuities on the balance sheet. The Company has an agreement with this executive whereby upon retirement the Company will pay to the executive an amount equal to the cash surrender value of the annuity less premiums paid accumulated at an interest rate of 1.5% per year. At December 31, 2024, 2023 and 2022, included in other liabilities and accrued expenses is the Company’s obligation under the plan of $528,000, $490,000 and $454,000, respectively. For the years ended December 31, 2024, 2023 and 2022, the expense amounted to $38,000, $36,000 and $35,000, respectively. The Company has agreements with one executive officer and one former executive officer whereby the Company will pay the cost of the premium for individual supplemental medical and prescription drug coverage for their lifetime upon retirement at age 65 or later. Spousal coverage is provided each year the executive is eligible for coverage and the spouse is age 65 or over. At December 31, 2024, 2023 and 2022, included in other liabilities and accrued expenses is the Company’s obligation under the plan of $226,000, $164,000 and $160,000, respectively. For the years ended December 31, 2024, 2023 and 2022 a $64,000 credit, a $59,000 credit and a $9,000 credit to expense, respectively, was recognized, reflecting updated calculation assumptions. Post-Retirement Life Insurance Employees who are covered under the Company’s bank-owned life insurance program can elect to participate in the benefits of the program while employed by the Company. The Company granted post-employment coverage to certain executives. This post- retirement benefit is included in other liabilities and accrued expenses at December 31, 2024, 2023 and 2022 in the amount of $357,000, $321,000 and $295,000, respectively. For the years ended December 31, 2024, 2023 and 2022, the expense amounted to $36,000, $26,000 and $34,000, respectively. Employee Stock Ownership Plan On June 29, 2016, the Company established an ESOP to provide eligible employees the opportunity to own Company stock. The Company added shares to the ESOP as part of the Offering completed August 14, 2019. The plan is a tax-qualified retirement plan for the benefit of the eligible Company employees. The ESOP shares were purchased through a loan from the Company and as the debt is repaid, shares are released. Contributions are allocated to eligible participants on the basis of compensation, subject to federal tax limits. The unreleased shares are deducted from stockholders’ equity as unearned ESOP shares in the accompanying Consolidated Balance Sheets. The number of shares committed to be released per year is 230,723 through 2035 and 124,148 from 2036 through 2038. The following table presents share information held by the ESOP: December 31, 2024 2023 Allocated shares 1,501,269 1,336,207 Shares committed to be allocated 230,723 230,723 Unallocated shares 2,679,670 2,910,393 Total shares 4,411,662 4,477,323 Fair value of unallocated shares $ 31,700,494 $ 34,866,506 Total compensation expense recognized in connection with the ESOP was $2.7 million, $2.5 million and $3.3 million for the years ended December 31, 2024, 2023 and 2022, respectively. ESOP Restoration Plan During 2016, the Company also adopted an ESOP Restoration Plan (“RESOP”) for the benefit of ESOP eligible employees whose annual compensation exceeds the amount of annual compensation permitted to be recognized under the ESOP by the Internal Revenue Code. Under the RESOP, eligible participants would receive a credit each year equal to the amount they would have received under the ESOP but for the Internal Revenue Service imposed compensation limit. Any benefits earned under the RESOP would become payable at the earliest of six months and a day after the participant’s separation of service from the Bank, the participant’s death, a change in control of the Company or upon termination of the RESOP. These benefits are accrued over the period during which employees provide services to earn these benefits. For the years ended December 31, 2024 and 2022, compensation expense recognized in connection with the RESOP was $225,000 and $636,000, respectively. For the year ended December 31, 2023, a credit to compensation expense in the amount of $500,000 was recorded in connection with the RESOP. Directors’ Retirement Plan The Company has a frozen director fee continuation plan which provides postretirement benefits to eligible directors of the Company. Participants in the plan must have at least six years of service as a director to be vested in the benefit, which is determined based on number of years of service. At December 31, 2024, the benefit obligation was $1.9 million.

STOCK-BASED COMPENSATION

STOCK-BASED COMPENSATION	12 Months Ended
STOCK-BASED COMPENSATION	Dec. 31, 2024
STOCK-BASED COMPENSATION
STOCK-BASED COMPENSATION	15. 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, restricted stock units, including performance 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”), was adopted on August 9, 2017. The Company will only award shares under 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 $2.1 million, $2.2 million and $3.3 million for the years ended December 31, 2024, 2023 and 2022, respectively. Stock Options one 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 years ended December 31, 2024 and 2023, 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 year ended December 31, 2024 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, 2024 1,049,075 $ 10.00 - $ - Exercised (13,000) 10.23 - - Forfeited - - - - Expired - - - - Balance at December 31, 2024 1,036,075 $ 9.99 3.12 $ 1,903,072 - $ - Exercisable at December 31, 2024 1,036,075 $ 9.99 3.12 $ 1,903,072 Restricted Stock 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 2020 Equity 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. The following table presents the activity in unvested stock awards under the Equity Plans for the year ended December 31, 2024: Restricted Weighted Average Stock Awards Grant Price Non-vested stock awards at January 1, 2024 249,228 $ 13.68 Vested (130,146) 13.45 Granted 220,917 10.20 Forfeited (35,492) 11.65 Non-vested stock awards at December 31, 2024 304,507 $ 11.49 Unrecognized cost inclusive of directors' awards $ 1,945,215 Weighted average remaining recognition period (years) 0.92 Performance Stock Units 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. Performance Weighted Average Restricted Stock Units Grant Price Non-vested performance restricted stock units at January 1, 2024 155,115 $ 13.42 Vested (63,860) 11.95 Granted 65,305 10.02 Forfeited (9,088) 12.87 Non-vested performance restricted stock units at December 31, 2024 147,472 $ 12.58 Unrecognized cost $ 662,900 Weighted average remaining recognition period (years) 0.93

MINIMUM REGULATORY CAPITAL REQU

MINIMUM REGULATORY CAPITAL REQUIREMENTS	12 Months Ended
MINIMUM REGULATORY CAPITAL REQUIREMENTS	Dec. 31, 2024
MINIMUM REGULATORY CAPITAL REQUIREMENTS
MINIMUM REGULATORY CAPITAL REQUIREMENTS	16. MINIMUM REGULATORY CAPITAL REQUIREMENTS Minimum Regulatory Capital Requirements The Company and Bank are subject to various regulatory capital requirements administered by the Board of Governors of the 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 December 31, 2024, 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 December 31, 2024 also exceeded the minimum capital requirements, including the currently applicable capital conservation buffer of 2.5%. The Company’s and Bank’s actual regulatory capital ratios as of December 31, 2024 and 2023 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. December 31, 2024 Common equity Tier 1 capital to risk-weighted assets $ 565,319 11.8 % $ 215,789 4.5 % N/A N/A Tier 1 capital to risk-weighted assets 565,319 11.8 287,718 6.0 N/A N/A Total capital to risk-weighted assets 624,926 13.0 383,624 8.0 N/A N/A Tier 1 capital to average assets 565,319 9.8 229,865 4.0 N/A N/A December 31, 2023 Common equity Tier 1 capital to risk-weighted assets $ 567,248 12.0 % $ 212,816 4.5 % N/A N/A Tier 1 capital to risk-weighted assets 567,248 12.0 283,755 6.0 N/A N/A Total capital to risk-weighted assets 619,138 13.1 378,340 8.0 N/A N/A Tier 1 capital to average assets 567,248 10.0 226,690 4.0 N/A N/A HarborOne Bank December 31, 2024 Common equity Tier 1 capital to risk-weighted assets $ 528,185 11.0 % $ 215,846 4.5 % 311,778 6.5 % Tier 1 capital to risk-weighted assets 528,185 11.0 287,795 6.0 383,727 8.0 Total capital to risk-weighted assets 587,792 12.3 383,727 8.0 479,659 10.0 Tier 1 capital to average assets 528,185 9.2 229,836 4.0 287,295 5.0 December 31, 2023 Common equity Tier 1 capital to risk-weighted assets $ 509,791 10.8 % $ 212,724 4.5 % $ 307,267 6.5 % Tier 1 capital to risk-weighted assets 509,791 10.8 283,632 6.0 378,175 8.0 Total capital to risk-weighted assets 561,682 11.9 378,175 8.0 472,719 10.0 Tier 1 capital to average assets 509,791 9.0 226,666 4.0 283,333 5.0 Dividend Restrictions The Bank is subject to dividend restrictions imposed by various regulators, including a limitation on the total of all dividends that the Bank may pay to the Company in any calendar year. The total of all dividends shall not exceed the Bank’s net income for the current year (as defined by statute), plus the Bank’s net income retained for the two Liquidation Account Upon completion of its initial and second-step conversions from mutual to stock form on June 29, 2016 and August 14, 2019, respectively, the Company established a liquidation account. The liquidation account is maintained for the benefit of the eligible account holders and supplemental eligible account holders who maintain their accounts at the Bank after the offering. The liquidation account is reduced annually to the extent that such account holders have reduced their qualifying deposits as of each anniversary date. Subsequent increases will not restore an account holder’s interest in the liquidation account. The Company is not permitted to pay dividends on its capital stock if the Company’s shareholders’ equity would be reduced below the amount of the liquidation account. Preferred Stock The Company has 1,000,000 shares of preferred stock, no par value, authorized, and none issued or outstanding. Treasury Stock Any shares repurchased under the Company’s share repurchase programs were purchased in open-market transactions and are held as treasury stock. All treasury stock is held at cost. A seventh share repurchase program was ongoing at year end 2024, with a limit of $20 million or 2,222,568 shares. During the year ended December 31, 2024, the Company repurchased a total of 1,895,980 shares at an average price of $11.13 for a total of $21.1 million under its share repurchase programs. During the year ended December 31, 2024, an additional 44,251 shares were acquired in connection with the satisfaction of tax obligations on vested shares at an average price of $10.18 for a total of $450,000. During the year ended December 31, 2023, the Company repurchased a total of 3,728,550 shares at an average price of $12.03 for a total of $44.9 million under its share repurchase programs. During the year ended December 31, 2023, an additional 25,439 shares were acquired in connection with the satisfaction of tax obligations on vested restricted shares at an average price of $13.42 for a total of $341,000.

COMPREHENSIVE INCOME (LOSS)

COMPREHENSIVE INCOME (LOSS)	12 Months Ended
COMPREHENSIVE INCOME (LOSS)	Dec. 31, 2024
COMPREHENSIVE INCOME (LOSS)
COMPREHENSIVE INCOME (LOSS)	17. COMPREHENSIVE INCOME (LOSS) Accounting principles generally require that recognized revenue, expenses, gains and losses be included in net income. Although certain changes in assets and liabilities are reported as a separate component of the stockholders’ equity section of the Consolidated Balance Sheets, such items, along with net income, are components of comprehensive income (loss). The following tables present changes in accumulated other comprehensive income (loss) by component for the years ended December 31, 2024, 2023 and 2022: Year Ended December 31, 2024 2023 2022 Post- Available Cash Post- Available Cash Post- Available Cash retirement for Sale Flow retirement for Sale Flow retirement for Sale Flow Benefit Securities Hedge Total Benefit Securities Hedge Total Benefit Securities Hedge Total (in thousands) Balance at beginning of period $ 85 $ (47,373) $ 3,666 $ (43,622) $ 150 $ (53,212) $ 5,980 $ (47,082) $ - $ (2,834) $ 1,197 $ (1,637) Other comprehensive income (loss) before reclassifications (47) (4,243) 828 (3,462) 1 6,249 1,403 7,653 251 (64,620) 7,815 (56,554) Amounts reclassified from accumulated other comprehensive income (loss) (84) 1,041 (4,883) (3,926) (66) - (4,622) (4,688) (42) - (1,164) (1,206) Net current period other comprehensive income (loss) (131) (3,202) (4,055) (7,388) (65) 6,249 (3,219) 2,965 209 (64,620) 6,651 (57,760) Related tax effect - (45) 1,160 1,115 - (410) 905 495 (59) 14,242 (1,868) 12,315 Balance at end of period $ (46) $ (50,620) $ 771 $ (49,895) $ 85 $ (47,373) $ 3,666 $ (43,622) $ 150 $ (53,212) $ 5,980 $ (47,082)

FAIR VALUE OF ASSETS AND LIABIL

FAIR VALUE OF ASSETS AND LIABILITIES	12 Months Ended
FAIR VALUE OF ASSETS AND LIABILITIES	Dec. 31, 2024
FAIR VALUE OF ASSETS AND LIABILITIES
FAIR VALUE OF ASSETS AND LIABILITIES	18. 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, 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 December 31, 2024 and 2023. FHLB stock 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. Retirement plan annuities MSRs Deposits and mortgagors’ escrow accounts e.g. i.e. Borrowed funds Accrued interest Derivatives Derivatives designated as hedging instrument Forward loan sale commitments and derivative loan commitments Interest rate swaps and risk participation agreements 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. As of December 31, 2024 and 2023, the Company assessed the significance of the impact of the credit valuation adjustments on the overall valuation of its derivative positions and determined that the credit valuation adjustments were not significant to the overall valuation of its derivatives. As a result, the Company classified its derivative valuations in their entirety as Level 2. Interest rate futures – Off-balance sheet credit-related instruments Transfers between levels are recognized at the end of the reporting period, if applicable. There were no transfers in 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) December 31, 2024 Assets Securities available for sale $ - $ 263,904 $ - $ 263,904 Loans held for sale - 36,768 - 36,768 Mortgage servicing rights - 44,500 - 44,500 Derivatives - 24,173 756 24,929 $ - $ 369,345 $ 756 $ 370,101 Liabilities Derivatives $ - $ 23,481 $ 65 $ 23,546 December 31, 2023 Assets Securities available for sale $ - $ 290,151 $ - $ 290,151 Loans held for sale - 19,686 - 19,686 Mortgage servicing rights - 46,111 - 46,111 Derivatives - 28,340 484 28,824 $ - $ 384,288 $ 484 $ 384,772 Liabilities Derivatives $ - $ 24,100 $ 451 $ 24,551 The table below presents, for the years ended December 31, 2024, 2023 and 2022, the changes in Level 3 assets and liabilities that are measured at fair value on a recurring basis. Year Ended December 31, 2024 2023 2022 Assets: Derivative and Forward Loan Sale Commitments: Balance at beginning of period $ 484 $ 487 $ 1,583 Total gains (losses) included in net income (1) 272 (3) (1,096) Balance at end of period $ 756 $ 484 $ 487 Changes in unrealized gains relating to instruments at period end $ 756 $ 484 $ 487 Liabilities: Derivative and Forward Loan Sale Commitments: Balance at beginning of period $ (451) $ (104) $ (189) Total gains (losses) included in net income (1) 386 (347) 85 Balance at end of period $ (65) $ (451) $ (104) Changes in unrealized losses relating to instruments at period end $ (65) $ (451) $ (104) (1) Included in mortgage banking income on the Consolidated Statements of Income. Assets Measured at Fair Value on a Non-recurring Basis The Company is required, on a non-recurring basis, to adjust the carrying value or provide valuation allowances for certain assets using fair value measurements in accordance with GAAP. The following is a summary of applicable non-recurring fair value measurements. There are no liabilities measured at fair value on a non-recurring basis at December 31, 2024 or 2023. December 31, December 31, 2024 2023 Level 1 Level 2 Level 3 Level 1 Level 2 Level 3 (in thousands) Collateral-dependent individually analyzed loans $ - $ - $ 47,463 $ - $ - $ 5,746 The table below presents quantitative information about significant unobservable inputs (Level 3) for assets measured at fair value on a nonrecurring basis at the dates indicated. Fair Value December 31, December 31, Valuation Technique 2024 2023 (in thousands) Collateral-dependent individually analyzed loans $ 47,463 $ 5,908 Appraisals of collateral (1) (1) 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. December 31, 2024 Carrying Fair Value Amount Level 1 Level 2 Level 3 Total (in thousands) Financial assets: Cash and cash equivalents $ 231,071 $ 231,071 $ - $ - $ 231,071 Securities available for sale 263,904 - 263,904 - 263,904 Securities held to maturity 19,627 - 19,285 - 19,285 Federal Home Loan Bank stock 23,277 N/A N/A N/A N/A Loans held for sale 36,768 - 36,768 - 36,768 Loans, net 4,796,398 - - 4,577,140 4,577,140 Retirement plan annuities 15,698 - - 15,698 15,698 Accrued interest receivable 18,393 - 18,393 - 18,393 Derivatives 24,929 - 24,173 756 24,929 Financial liabilities: Deposits 4,550,753 - - 4,549,755 4,549,755 Borrowed funds 516,555 - 516,287 - 516,287 Mortgagors' escrow accounts 8,537 - - 8,537 8,537 Accrued interest payable 6,575 - 6,575 - 6,575 Derivatives 23,546 - 23,481 65 23,546 December 31, 2023 Carrying Fair Value Amount Level 1 Level 2 Level 3 Total (in thousands) Financial assets: Cash and cash equivalents $ 227,350 $ 227,350 $ - $ - $ 227,350 Securities available for sale 290,151 - 290,151 - 290,151 Securities held to maturity 19,796 - 19,262 - 19,262 Federal Home Loan Bank stock 27,098 N/A N/A N/A N/A Loans held for sale 19,686 - 19,686 - 19,686 Loans, net 4,702,339 - - 4,482,448 4,482,448 Retirement plan annuities 15,170 - - 15,170 15,170 Accrued interest receivable 18,169 - 18,169 - 18,169 Derivatives 28,824 - 28,340 484 28,824 Financial liabilities: Deposits 4,387,409 - - 4,376,269 4,376,269 Borrowed funds 568,462 - 567,158 - 567,158 Mortgagors' escrow accounts 8,872 - - 8,872 8,872 Accrued interest payable 5,251 - 5,251 - 5,251 Derivatives 24,551 - 24,100 451 24,551

EARNINGS PER SHARE ("EPS")

EARNINGS PER SHARE ("EPS")	12 Months Ended
EARNINGS PER SHARE ("EPS")	Dec. 31, 2024
EARNINGS PER SHARE ("EPS")
EARNINGS PER SHARE ("EPS")	19. Basic EPS represents net income attributable to common shareholders divided by the weighted-average number of common shares outstanding during the period. 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. At December 31, 2024, there were no common shares considered anti-dilutive that were excluded from EPS. At December 31, 2023, and 2022, respectively, potential common shares of 58,572 and 20 were considered to be anti-dilutive and excluded from EPS. The following table presents earnings per common share. Year Ended December 31, 2024 2023 2022 Net income available to common stockholders (in thousands) $ 27,407 $ 16,077 $ 45,589 Average number of common shares outstanding 44,537,282 46,732,435 50,293,762 Less: Average unallocated ESOP shares and non-vested restricted shares (3,316,397) (3,510,697) (3,810,098) Weighted average number of common shares outstanding used to calculate basic earnings per common share 41,220,885 43,221,738 46,483,664 Dilutive effect of share-based compensation 251,221 197,884 634,793 Weighted average number of common shares outstanding used to calculate diluted earnings per common share 41,472,106 43,419,622 47,118,457 Earnings per common share: Basic $ 0.66 $ 0.37 $ 0.98 Diluted $ 0.66 $ 0.37 $ 0.97

SEGMENT REPORTING

SEGMENT REPORTING	12 Months Ended
SEGMENT REPORTING	Dec. 31, 2024
SEGMENT REPORTING
SEGMENT REPORTING	20. The Company’s reportable segments are determined by the Chief Financial Officer, who is the designated CODM based upon the products and services offered, primarily distinguished between banking and mortgage banking operations. They are also distinguished by the level of information provided to the CODM, who uses such information to review performance of various components of the business. The CODM assesses the performance of the Company’s segments by evaluating revenue streams, significant expenses, and comparing actual results to budgeted amounts. Segment pretax profit or loss is used to assess the performance of the banking segment by monitoring net interest and dividend income. Segment pretax profit or loss is used to assess the performance of the mortgage banking segment by monitoring mortgage banking income. 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 Consolidated Financial Statements at December 31, 2024, 2023 and 2022, and for the years then-ended are presented in the tables below. Year Ended December 31, 2024 HarborOne HarborOne Bank Mortgage Other Eliminations Consolidated (in thousands) Interest and dividend income $ 270,677 $ 2,448 $ 14,042 $ (15,759) $ 271,408 Interest expense (145,633) (1,883) - 1,760 (145,756) Net interest and dividend income 125,044 565 14,042 (13,999) 125,652 Provision for credit losses 8,277 - - - 8,277 Net interest and dividend income, after provision for credit losses 116,767 565 14,042 (13,999) 117,375 Mortgage banking income: Gain on sale of mortgage loans - 12,860 - - 12,860 Intersegment (loss) gain (1,218) 1,097 - 121 - Changes in mortgage servicing rights fair value (246) (3,458) - - (3,704) Other 704 8,749 - 9,453 Total mortgage banking (loss) income (760) 19,248 - 121 18,609 Other noninterest income 28,269 14 25 - 28,308 Total noninterest income 27,509 19,262 25 121 46,917 Compensation and benefits 61,250 15,156 (2,390) 74,016 Other noninterest expense 48,100 5,514 2,404 1 56,019 Total noninterest expense 109,350 20,670 14 1 130,035 Income (loss) before income taxes 34,926 (843) 14,053 (13,879) 34,257 Provision (benefit) for income taxes 7,586 (871) 135 - 6,850 Net income (loss) $ 27,340 $ 28 $ 13,918 $ (13,879) $ 27,407 Total assets at period end $ 5,761,406 $ 117,411 $ 581,223 $ (706,907) $ 5,753,133 Total liabilities at period end $ 5,223,543 $ 60,428 $ 6,212 $ (112,061) $ 5,178,122 Goodwill at period end $ 59,042 $ - $ - $ - $ 59,042 Year Ended December 31, 2023 HarborOne HarborOne Bank Mortgage Other Eliminations Consolidated (in thousands) Interest and dividend income $ 243,367 $ 2,106 $ 49,582 $ (50,767) $ 244,288 Interest expense 114,210 1,300 2,775 (1,268) 117,017 Net interest and dividend income 129,157 806 46,807 (49,499) 127,271 Provision for credit losses 5,680 - - - 5,680 Net interest and dividend income, after provision for credit losses 123,477 806 46,807 (49,499) 121,591 Mortgage banking income: Gain on sale of mortgage loans - 10,404 - - 10,404 Intersegment (loss) gain (1,063) 849 - 214 - Changes in mortgage servicing rights fair value (346) (4,338) - - (4,684) Other 769 8,330 - - 9,099 Total mortgage banking (loss) income (640) 15,245 - 214 14,819 Other noninterest income 26,996 (2) 41 - 27,035 Total noninterest income 26,356 15,243 41 214 41,854 Compensation and benefits 61,604 14,506 (2,193) - 73,917 Goodwill impairment - 10,760 - - 10,760 Other noninterest expense 45,664 5,706 2,273 - 53,643 Total noninterest expense 107,268 30,972 80 - 138,320 Income (loss) before income taxes 42,565 (14,923) 46,768 (49,285) 25,125 Provision (benefit) for income taxes 10,559 (944) (567) 9,048 Net income (loss) $ 32,006 $ (13,979) $ 47,335 $ (49,285) $ 16,077 Total assets at period end $ 5,689,676 $ 96,942 $ 589,240 $ (707,962) $ 5,667,896 Total liabilities at period end $ 5,149,259 $ 39,987 $ 5,481 $ (110,590) $ 5,084,137 Goodwill at period end $ 59,042 $ - $ $ - $ 59,042 Year Ended December 31, 2022 HarborOne HarborOne Bank Mortgage Other Eliminations Consolidated (in thousands) Interest and dividend income $ 170,250 $ 1,949 $ 13,163 $ (13,432) $ 171,930 Interest expense 20,949 332 2,095 (432) 22,944 Net interest and dividend income 149,301 1,617 11,068 (13,000) 148,986 Provision for credit losses 5,660 - - - 5,660 Net interest and dividend income, after provision for credit losses 143,641 1,617 11,068 (13,000) 143,326 Mortgage banking income: Gain on sale of mortgage loans - 15,970 - - 15,970 Intersegment (loss) gain (3,604) 3,185 - 419 - Changes in mortgage servicing rights fair value 618 4,714 - - 5,332 Other 873 9,075 - - 9,948 Total mortgage banking (loss) income (2,113) 32,944 - 419 31,250 Other noninterest income 25,930 129 - - 26,059 Total noninterest income 23,817 33,073 - 419 57,309 Compensation and benefits 64,473 19,799 (999) - 83,273 Goodwill impairment - - - - - Other noninterest expense 45,934 7,266 2,433 - 55,633 Total noninterest expense 110,407 27,065 1,434 - 138,906 Income (loss) before income taxes 57,051 7,625 9,634 (12,581) 61,729 Provision (benefit) for income taxes 14,090 2,777 (727) - 16,140 Net income $ 42,961 $ 4,848 $ 10,361 $ (12,581) $ 45,589 Total assets at period end $ 5,373,911 $ 124,229 $ 656,627 $ (795,222) $ 5,359,545 Total liabilities at period end $ 4,828,521 $ 25,295 $ 39,651 $ (150,898) $ 4,742,569 Goodwill at period end $ 59,042 $ 10,760 $ - $ - $ 69,802

CONDENSED FINANCIAL STATEMENTS

CONDENSED FINANCIAL STATEMENTS OF PARENT COMPANY	12 Months Ended
CONDENSED FINANCIAL STATEMENTS OF PARENT COMPANY	Dec. 31, 2024
CONDENSED FINANCIAL STATEMENTS OF PARENT COMPANY
CONDENSED FINANCIAL STATEMENTS OF PARENT COMPANY	21. CONDENSED FINANCIAL STATEMENTS OF PARENT COMPANY Condensed financial information relative to HarborOne Bancorp, Inc.’s balance sheet at December 31, 2024 and 2023 and the related statements of net income and cash flows for the years ended December 31, 2024, 2023 and 2022 are presented below. The statement of stockholders’ equity is not presented below, as the parent company’s stockholders’ equity is that of the consolidated company. Balance Sheet December 31, 2024 2023 (in thousands) Assets Cash and due from banks $ 15,827 $ 34,319 Investment in common stock of HarborOne Bank 537,877 526,302 Loan receivable - ESOP 26,995 28,119 Other assets 524 500 Total assets $ 581,223 $ 589,240 Liabilities and Stockholders' Equity Other liabilities and accrued expenses 6,212 5,481 Stockholders' equity 575,011 583,759 Total liabilities and stockholders' equity $ 581,223 $ 589,240 Statement of Net Income Year Ended December 31, 2024 2023 2022 (in thousands) Dividends from subsidiary $ 14,000 $ 49,500 $ 13,000 Interest from bank deposits 42 82 159 Interest on short-term investments - - 4 Interest on ESOP loan 2,390 2,193 999 Other income 25 41 - Total income 16,457 51,816 14,162 Interest expense - 2,775 2,095 Operating expenses 2,404 2,273 2,432 Total expenses 2,404 5,048 4,527 Income before income taxes and equity in undistributed net income (loss) 14,053 46,768 9,635 of HarborOne Bank Income tax provision (benefit) 135 (568) (726) Income before equity in income (loss) of subsidiaries 13,918 47,336 10,361 Equity in undistributed net income (loss) of HarborOne Bank 13,489 (31,259) 35,228 Net income $ 27,407 $ 16,077 $ 45,589 Statement of Cash Flows Year Ended December 31, 2024 2023 2022 (in thousands) Cash flows from operating activities: Net income $ 27,407 $ 16,077 $ 45,589 Adjustments to reconcile net income to net cash provided by operating activities: Equity in undistributed net (income) loss of HarborOne Bank (13,489) 31,259 (35,228) Deferred income tax provision (benefit) 31 (60) 138 Share-based compensation 377 454 286 Net change in other assets (52) 42 18 Net change in other liabilities (737) 83 (97) Net cash provided by operating activities 13,537 47,855 10,706 Cash flows from investing activities: Repayment of ESOP loan 1,125 1,123 1,497 Advances to subsidiary (2,394) (2,193) (999) Repayment of advances to subsidiary 2,390 2,194 998 Net cash provided by investing activities 1,121 1,124 1,496 Cash flows from financing activities: Issuance of common stock 133 643 8,366 Repurchase of common stock (21,548) (45,206) (62,525) Proceeds from advance from subsidiary 1,373 - - Repayment of subordinated debt - (35,000) - Amortization of subordinated debt issuance costs - 715 126 Dividends paid (13,108) (12,826) (12,188) Net cash used by financing activities (33,150) (91,674) (66,221) Net change in cash and cash equivalents (18,492) (42,695) (54,019) Cash and cash equivalents at beginning of year 34,319 77,014 131,033 Cash and cash equivalents at end of year $ 15,827 $ 34,319 $ 77,014

REVENUE RECOGNITION

REVENUE RECOGNITION	12 Months Ended
REVENUE RECOGNITION	Dec. 31, 2024
REVENUE RECOGNITION
REVENUE RECOGNITION	22. REVENUE RECOGNITION Revenue from contracts with customers in the scope of 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.

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands	12 Months Ended
Pay vs Performance Disclosure - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Pay vs Performance Disclosure
Net Income (Loss)	$ 27,407	$ 16,077	$ 45,589

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
Insider Trading Arrangements	Dec. 31, 2024
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Insider Trading Policies and Pr

Insider Trading Policies and Procedures	12 Months Ended
Insider Trading Policies and Procedures	Dec. 31, 2024
Insider Trading Policies and Procedures [Line Items]
Insider Trading Policies and Procedures Adopted	true

Cybersecurity Risk Management a

Cybersecurity Risk Management and Strategy Disclosure	12 Months Ended
Cybersecurity Risk Management and Strategy Disclosure	Dec. 31, 2024
Cybersecurity Risk Management, Strategy, and Governance [Line Items]
Cybersecurity Risk Management Processes for Assessing, Identifying, and Managing Threats [Text Block]	Our business operations rely on the secure collection, storage, transmission, and other processing of confidential and sensitive data through our information systems. In addition, as a financial services company, we are subject to extensive regulatory compliance requirements concerning the treatment of such data. To ensure the security, confidentiality, integrity, and availability of our information systems, we have implemented a comprehensive cybersecurity risk management program (the “Information Security Program”). The program is designed to identify, assess, manage, and mitigate risks and secure Company and customer information against threats. This is achieved through monitoring, threat management strategies, policies and procedures, security awareness, oversight, and governance. Cybersecurity Risk Management The Information Security Program employs various information security controls, tools, and strategies to combat threats and to ensure the Company’s information and systems remain secure. The Information Security Program contains specific provisions for identifying, assessing, and mitigating cyber threats, including but not limited to ransomware attacks, denial of service attacks, phishing and social engineering, data breaches, credential theft, and vulnerability exploitation. Due to the dynamic nature of risks, threats, vulnerabilities, and the information systems themselves, all information systems that store, process, or transmit sensitive and confidential information are protected by comprehensive defense-in-depth strategies that include strong authentication techniques, firewalls, intrusion detection systems, end point protection, physical security measures, encryption and security awareness training. The Information Security Program is periodically reviewed to ensure that internal controls are designed appropriately and operating as expected. The Information Security Program is reviewed and approved by the Board of Directors annually. Periodic audits are performed by internal and external auditors to confirm adherence to the security program and regulatory guidelines and requirements. The Information Security team performs an annual assessment of cybersecurity risk and maturity using the FFIEC Cybersecurity Assessment Tool and reports the results to the Board of Directors as part of the annual report. The Information Security Program complies with all applicable regulations, including Section 501(b) of the Gramm–Leach–Bliley Act and Section 216 of the Fair and Accurate Credit Transactions Act of 2003. The Information Security Program aligns with National Institute of Standards and Technology Cybersecurity Framework and the Center for Internet Security (benchmarks for device hardening). The Information Security team is responsible for monitoring and identifying all vulnerabilities and suspected threats and implementing corrective actions, if required. The Information Security team conducts risk assessments on the technology stack, determines effectiveness of internal controls, and develops remediation plans. The Information Security team utilizes specialized service providers to perform continuous monitoring, alerting and containment of potential threats, and penetration testing. The Information Security team maintains a Vendor Management Program and performs ongoing periodic risk assessments on third- and fourth-party vendors and their associated technologies, if applicable. While we have not experienced any data breaches during the year, our online banking platform was targeted in the beginning of the year by threat actors who created malicious look-alike phishing sites. The Bank did not suffer losses as a result of these attempted attacks and due to efforts made to improve our security posture, the attack efforts have significantly subsided and remained at a stable low-level for the remainder year. We continue to monitor and look for ways to enhance security, safeguard customer data, ensure the continuity of our operations, and mitigate any risks associated with potential cybersecurity events. The Information Security team maintains a Third-Party Risk Vendor Management Program that requires all third-party vendors with access to our systems or sensitive information comply with applicable cybersecurity standards and regulations. Ongoing periodic risk assessments on third- and fourth-party vendors and their associated technologies are performed, if applicable. While extensive cybersecurity controls and procedures are in place, the risk of experiencing an incident can never be eliminated completely. We maintain and regularly review and update an Incident Response Plan that outlines procedures for identifying, containing, and mitigating any cyber event that may affect our systems, data, or operations and includes potential credit monitoring services, customer and regulatory notification guidelines and templates. This plan is regularly tested and updated. The plan is designed to address adverse events that could impact the security of information, that affect our ability to conduct secure financial transactions, or that present reputational risk. We have retainers in place with privacy counsel and forensic incident response firms. We maintain cybersecurity insurance coverage to mitigate potential financial impacts from cyber incidents, such as data breaches and system disruptions. However, such insurance may not cover all types of damages, and we cannot guarantee that our coverage will be sufficient to fully protect us from the financial consequences of a cyberattack.
Cybersecurity Risk Management Processes Integrated [Flag]	true
Cybersecurity Risk Management Processes Integrated [Text Block]	To ensure the security, confidentiality, integrity, and availability of our information systems, we have implemented a comprehensive cybersecurity risk management program (the “Information Security Program”). The program is designed to identify, assess, manage, and mitigate risks and secure Company and customer information against threats. This is achieved through monitoring, threat management strategies, policies and procedures, security awareness, oversight, and governance. The Information Security Program employs various information security controls, tools, and strategies to combat threats and to ensure the Company’s information and systems remain secure. The Information Security Program contains specific provisions for identifying, assessing, and mitigating cyber threats, including but not limited to ransomware attacks, denial of service attacks, phishing and social engineering, data breaches, credential theft, and vulnerability exploitation. Due to the dynamic nature of risks, threats, vulnerabilities, and the information systems themselves, all information systems that store, process, or transmit sensitive and confidential information are protected by comprehensive defense-in-depth strategies that include strong authentication techniques, firewalls, intrusion detection systems, end point protection, physical security measures, encryption and security awareness training. The Information Security Program is periodically reviewed to ensure that internal controls are designed appropriately and operating as expected. The Information Security Program is reviewed and approved by the Board of Directors annually. Periodic audits are performed by internal and external auditors to confirm adherence to the security program and regulatory guidelines and requirements. The Information Security team performs an annual assessment of cybersecurity risk and maturity using the FFIEC Cybersecurity Assessment Tool and reports the results to the Board of Directors as part of the annual report. The Information Security Program complies with all applicable regulations, including Section 501(b) of the Gramm–Leach–Bliley Act and Section 216 of the Fair and Accurate Credit Transactions Act of 2003. The Information Security Program aligns with National Institute of Standards and Technology Cybersecurity Framework and the Center for Internet Security (benchmarks for device hardening). The Information Security team is responsible for monitoring and identifying all vulnerabilities and suspected threats and implementing corrective actions, if required. The Information Security team conducts risk assessments on the technology stack, determines effectiveness of internal controls, and develops remediation plans. The Information Security team utilizes specialized service providers to perform continuous monitoring, alerting and containment of potential threats, and penetration testing. The Information Security team maintains a Vendor Management Program and performs ongoing periodic risk assessments on third- and fourth-party vendors and their associated technologies, if applicable.
Cybersecurity Risk Management Third Party Engaged [Flag]	true
Cybersecurity Risk Third Party Oversight and Identification Processes [Flag]	true
Cybersecurity Risk Materially Affected or Reasonably Likely to Materially Affect Registrant [Flag]	false
Cybersecurity Risk Board of Directors Oversight [Text Block]	Risk Management Oversight and Governance Our CISO has more than 20 years of relevant experience in leading and building risk management and cybersecurity programs. Our CISO maintains the following credentials: Certified Information Systems Auditor and Certification in Risk Management Assurance. There are also several Management committees that are responsible for oversight of the Information Security Program. These include: • • Risk Management Committee. The Information Security Committee (“ISC”) is chaired by the CISO and is responsible for overseeing cybersecurity risk, including information security policies and procedures, information security audits, social engineering testing, vulnerability management, penetration testing, information security projects, business continuity, incident response planning, and current threats and security advisories related to the bank’s information systems and data assets. The ISC members include the CRO, Chief Information Officer, and General Counsel, with broader attendance from representatives of Risk Management, Technology, Operations, Internal Audit, and Retail. The ISC, in turn, provides a summary update and points of escalation to the Risk Management Committee (“RMC”), who is chaired by the CRO. The RMC serves as the primary Management committee in fulfilling enterprise risk management oversight responsibilities, including cybersecurity risk. The RMC provides quarterly updates to the Audit Committee. The Board of Directors holds oversight responsibility over the Company’s risk management program, including material risks related to cybersecurity threats. This oversight may be executed directly by the Board of Directors or through its committees. The Board of Directors has delegated oversight of Risk Management to the This report includes: ● Risk assessment results; ● Third- and fourth-party vendor oversight; ● Results of security monitoring and testing; ● Security incidents or violations (if applicable); ● Material changes to Information Security Program; and ● Internal and external audit results.
Cybersecurity Risk Board Committee or Subcommittee Responsible for Oversight [Text Block]	Audit Committee
Cybersecurity Risk Process for Informing Board Committee or Subcommittee Responsible for Oversight [Text Block]	The Audit Committee engages in regular discussions with Management regarding the Company’s risk exposures and the measures implemented to monitor and control these risks, including those that may result from material cybersecurity threats. These discussions include evaluating current trends, internal risk assessments, and risk management policies. Annually, a comprehensive report on the state of the Information Security Program, including cybersecurity risk management, is provided to the Board of Directors by the CRO and CISO.
Cybersecurity Risk Role of Management [Text Block]	There are also several Management committees that are responsible for oversight of the Information Security Program. These include: • • Risk Management Committee. The Information Security Committee (“ISC”) is chaired by the CISO and is responsible for overseeing cybersecurity risk, including information security policies and procedures, information security audits, social engineering testing, vulnerability management, penetration testing, information security projects, business continuity, incident response planning, and current threats and security advisories related to the bank’s information systems and data assets. The ISC members include the CRO, Chief Information Officer, and General Counsel, with broader attendance from representatives of Risk Management, Technology, Operations, Internal Audit, and Retail. The ISC, in turn, provides a summary update and points of escalation to the Risk Management Committee (“RMC”), who is chaired by the CRO. The RMC serves as the primary Management committee in fulfilling enterprise risk management oversight responsibilities, including cybersecurity risk. The RMC provides quarterly updates to the Audit Committee. The Board of Directors holds oversight responsibility over the Company’s risk management program, including material risks related to cybersecurity threats. This oversight may be executed directly by the Board of Directors or through its committees. The Board of Directors has delegated oversight of Risk Management to the This report includes: ● Risk assessment results; ● Third- and fourth-party vendor oversight; ● Results of security monitoring and testing; ● Security incidents or violations (if applicable); ● Material changes to Information Security Program; and ● Internal and external audit results.
Cybersecurity Risk Management Positions or Committees Responsible [Flag]	true
Cybersecurity Risk Management Positions or Committees Responsible [Text Block]	The Chief Risk Officer (“CRO”) and Chief Information Security Officer (“CISO”)
Cybersecurity Risk Management Expertise of Management Responsible [Text Block]	Our CISO has more than 20 years of relevant experience in leading and building risk management and cybersecurity programs. Our CISO maintains the following credentials: Certified Information Systems Auditor and Certification in Risk Management Assurance.
Cybersecurity Risk Process for Informing Management or Committees Responsible [Text Block]	The CRO and CISO report periodically on important updates related to the Information Security Program and threat landscape to the Board of Directors and its designated committee with responsibility for oversight of risk management.
Cybersecurity Risk Management Positions or Committees Responsible Report to Board [Flag]	true

SUMMARY OF SIGNIFICANT ACCOUN_2

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	12 Months Ended
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	Dec. 31, 2024
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Basis of Presentation and Consolidation	Basis of Presentation and Consolidation HarborOne Bancorp, Inc. (the “Company”) is the stock holding company of HarborOne Bank (the “Bank”), a state-chartered trust company, which in turn owns a residential mortgage banking company, HarborOne Mortgage, LLC (“HarborOne Mortgage”). The Consolidated Financial Statements include the accounts of the Company, the Company’s subsidiaries, Legion Parkway Company LLC, and HarborOne Bank; and the Bank’s wholly owned subsidiaries, HarborOne Mortgage, one security corporation subsidiary, and one passive investment subsidiary. The passive investment corporation maintains and manages certain assets of the Bank. The security company was established for the purpose of buying, holding, and selling securities on its own behalf. All significant intercompany balances and transactions have been eliminated in consolidation.
Nature of Operations	Nature of Operations The Company provides a variety of financial services to individuals and businesses through its 30 full-service bank branches in Massachusetts and Rhode Island, and a commercial lending office in each of Boston, Massachusetts and Providence, Rhode Island. HarborOne Mortgage maintains offices in, Massachusetts, Rhode Island, New Hampshire, Maine, New Jersey and Florida and originates loans in five additional states. The Company’s primary deposit products are checking, money market, savings and term certificate of deposit accounts while its primary lending products are commercial real estate, commercial, residential mortgages, home equity, and consumer loans. The Company also originates, sells and services residential mortgage loans through HarborOne Mortgage.
Use of Estimates	Use of Estimates To prepare financial statements in conformity with accounting principles generally accepted in the United States of America, Management makes estimates and assumptions based on available information. These estimates and assumptions affect the amounts reported in the financial statements and the disclosures provided, however, actual results could differ.
Significant Group Concentration of Credit Risk	Significant Group Concentration of Credit Risk The Company has cash and federal fund balances on deposit at correspondent banks that exceed insurable limits. The Company has not experienced any losses on such amounts. Most of the Company’s lending activities are with borrowers located within southeastern New England. The ability and willingness of residential and consumer borrowers to honor their repayment commitments is generally dependent on the level of overall economic activity within the borrowers’ geographic area and real estate values. Note 4 provides the detail of the Company’s loan portfolio and Note 2 provides the detail of the Company’s investment portfolio. The Company does not have any significant concentrations to any one industry or customer.
Reclassifications	Reclassifications 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.
Cash Flows	Cash Flows Cash and cash equivalents include cash, interest-bearing deposits with other financial institutions with maturities fewer than 90 days, and federal funds sold. Net cash flows are reported for customer loan and deposit transactions and interest-bearing deposits in other financial institutions.
Debt Securities	Debt Securities Debt securities are classified as held-to-maturity and carried at amortized cost when Management has the positive intent and ability to hold them to maturity. Debt securities are classified as available for sale when they might be sold before maturity. Securities available for sale are carried at fair value, with unrealized holding gains and losses reported in other comprehensive income, net of tax. Interest income includes amortization of purchase premium or discount. Premiums and discounts on securities are amortized on the level-yield method without anticipating prepayments, except for mortgage-backed securities where prepayments are anticipated. Gains and losses on sales are recorded on the trade date and determined using the specific identification method. Effective January 1, 2022, the Company adopted the provisions of Topic 326 and modified its accounting for the assessment of available-for-sale debt securities for impairment as further described below. The Company has made an accounting policy election to exclude accrued interest from the amortized cost basis of debt securities and reports accrued interest separately in other assets in the Consolidated Balance Sheets. The Company also excludes accrued interest from the estimate of credit losses. A debt security is placed on non-accrual status at the time any principal or interest payments become more than 90 days delinquent or if full collection of interest or principal becomes uncertain. When a debt security is placed on non-accrual status, accrued interest is reversed against interest income. There were no debt securities on non-accrual status, and therefore there was no accrued interest related to debt securities reversed against interest income, for the years ended December 31, 2024 and 2023. The Company measures expected credit losses on held-to-maturity securities on a collective basis by major security type in accordance with the CECL methodology. As of December 31, 2024, the held-to-maturity securities were U.S. government-sponsored agency obligations. These securities are guaranteed by the government sponsored agency with a long history of no credit losses. As a result, Management has determined these securities to have a zero loss expectation and therefore does not estimate an allowance for credit losses on these securities. For available-for-sale debt securities in an unrealized loss position, Management first assesses whether the Company intends to sell, or if it is likely that the Company will be required to sell the security before recovery of its amortized cost basis. If either of the criteria regarding intent or requirement to sell is met, the security’s amortized cost basis is written down to fair value through a provision for credit losses charge to earnings. For debt securities available for sale that do not meet either these criteria, Management evaluates whether the decline in fair value has resulted from credit losses or other factors. In making this assessment, Management considers both quantitative and qualitative factors. A substantial portion of available-for-sale debt securities held by the Company are obligations issued by U.S. government agencies and U.S. government-sponsored enterprises, including mortgage-backed securities. These securities are either explicitly or implicitly guaranteed by the U.S. government, which are highly rated by major credit rating agencies and have a long history of no credit losses. For these securities, Management takes into consideration the long history of no credit losses and other factors to assess the risk of nonpayment even if the U.S. government were to default. As such, the Company has utilized a zero loss estimate due to credit for these securities. For available-for-sale debt securities that are not guaranteed by U.S. government agencies and U.S. government-sponsored enterprises, such as corporate bonds, Management utilizes a third-party credit modeling tool based on observable market data, which assists Management in identifying any potential credit risk associated with its available-for-sale debt securities. In addition, qualitative factors are also considered, including the extent to which fair value is less than amortized cost, changes to the credit rating of the security by a rating agency, and adverse conditions specifically related to the security, among other factors. If a credit loss exists based on the results of this assessment, an ACL (contra asset) is recorded, limited by the amount that the fair value is less than the amortized cost basis. Any impairment that has not been recorded through an ACL is considered market-related and is recognized in other comprehensive income, net of taxes. Changes in the ACL on available-for-sale debt securities are recorded as provision for (or reversal of) credit losses. Losses are charged against the ACL when Management believes the uncollectability of an available-for-sale debt security is confirmed or when either of the criteria regarding intent or requirement to sell is met.
Federal Home Loan Bank Stock	Federal Home Loan Bank Stock The Company, as a member of the FHLB system, is required to maintain an investment in capital stock of the FHLB of Boston. Based on redemption provisions of the FHLB, the stock has no quoted market value and is carried at cost. At its discretion, the FHLB may declare dividends on the stock. The Company reviews FHLB stock for impairment based on the ultimate recoverability of the cost basis. As of December 31, 2024 and 2023, no impairment has been recognized.
Mortgage Loans Held for Sale	Mortgage Loans Held for Sale Residential mortgage loans originated with the intent to sell are classified as held-for-sale and are carried at fair value. Loan origination costs for loans held for sale that the Company accounts for under the fair value option are recognized in noninterest expense when incurred. Changes in fair value are recognized in mortgage banking income. Gains and losses on residential loan sales are recognized at the settlement date and are included in mortgage banking income. Upfront fees and costs related to mortgage loans held for sale for which the fair value option was elected are recognized in mortgage banking income as received / incurred and are not deferred. Interest income on mortgage loans held for sale is recorded in interest income.
Loans	Loans Loans held for investment are reported at their outstanding unpaid principal balances adjusted for charge-offs, the allowance for credit losses on loans, and any unamortized deferred origination fees and costs. Loan origination fees are offset with related direct incremental loan origination costs and the resulting net amount is deferred and amortized to interest income using the level-yield method over the remaining life of the loan without anticipating prepayment. Accrual of interest on loans is discontinued when collectability of principal or interest is uncertain or when payments of principal or interest have become contractually past due 90 days or more. Past due status is based on contractual terms of the loan. However, a loan may remain on accrual status if both the value of any collateral securing the loan is sufficient to cover principal and accrued interest thereon, and the loan is in the process of collection. In all cases, loans are placed on non-accrual status or charged-off at an earlier date if collection of principal or interest is considered doubtful. When a loan is placed on non-accrual status, all interest accrued but not received is reversed against interest income. Interest received on such loans is accounted for on the cash-basis or cost-recovery method until qualifying for return to accrual. Under the cost-recovery method, interest income is not recognized until the loan balance is reduced to zero. Under the cash-basis method, interest income is recorded when the payment is received in cash. Loans are returned to accrual status when all the principal and interest amounts contractually due are brought current and future payments are reasonably assured. The Company’s loan portfolio includes residential real estate, commercial real estate, construction, commercial and industrial and consumer segments. Residential real estate loans include classes for one- to four-family and second mortgages and equity lines of credit. Consumer loans include classes for auto and personal loans. The Company’s acquired loans are recorded at fair value with no carryover of the allowance for credit losses. Net discount on performing loans acquired are recognized as interest income over the remaining life of the loan. Acquired loans determined to have evidence of deterioration in credit quality and when it is probable, at acquisition, that all contractually required payments will not be collected, are deemed to be purchased credit deteriorated (“PCD”) loans. For PCD loans, the excess of cash flows expected to be collected over the carrying amount of the loans, referred to as the “accretable yield,” is accreted into interest income over the life of the loans using the effective yield method. The Company monitors actual cash flows to determine any deterioration from those forecasted at the acquisition date, which is evaluated and recorded through the allowance for credit losses.
Allowance for Credit Losses on Loans	Allowance for Credit Losses on Loans The Company has made an accounting policy election to exclude accrued interest from the amortized cost basis of loans and reports accrued interest separately in other assets in the Consolidated Balance Sheets. The Company also excludes accrued interest from the estimate of credit losses. Accrued interest receivable on loans totaled $16.0 million and $15.6 million, respectively, as of December 31, 2024 and 2023, respectively. The ACL on loans is Management’s estimate of expected credit losses over the expected life of the loans at the reporting date. The ACL on loans is increased through a provision for credit losses recognized in the Consolidated Statements of Income and by recoveries of amounts previously charged off. The ACL on loans is reduced by charge-offs on loans. Loan charge-offs are recognized when Management believes the collectability of the principal balance outstanding is unlikely. Full or partial charge-offs on collateral-dependent individually analyzed loans are generally recognized when the collateral is deemed to be insufficient to support the carrying value of the loan. The level of the ACL on loans is based on Management’s ongoing review of all relevant information, from internal and external sources, relating to past events, current conditions and reasonable and supportable forecasts. Historical credit loss experience provides the basis for the calculation of probability of default, loss given default, exposure at default and the estimation of expected credit losses. As discussed further below, adjustments to historical information are made for differences in specific risk characteristics, such as differences in underwriting standards, portfolio mix, delinquency level, or term, as well as for changes in environmental conditions, that may not be reflected in historical loss rates. Management employs a process and methodology to estimate the ACL on loans that evaluates both quantitative and qualitative factors. The methodology for evaluating quantitative factors consists of two basic components. The first component involves pooling loans into portfolio segments for loans that share similar risk characteristics. Pooled loan portfolio segments include commercial real estate, commercial and industrial, commercial construction, residential real estate (including homeowner construction), home equity and consumer loans. The second component involves individually analyzed loans that do not share similar risk characteristics with loans that are pooled into portfolio segments. Individually analyzed loans include non-accrual loans, commercial loans risk-rated 8 or greater, and certain other loans based on the underlying risk characteristics and the discretion of Management to individually analyze such loans. For loans that are individually analyzed, the ACL is measured using a discounted cash flow (“DCF”) methodology based upon the loan’s contractual effective interest rate, or at the loan’s observable market price, or, if the loan is collateral-dependent, at the fair value of the collateral. Factors Management considers when measuring the extent of expected credit loss include payment status, collateral value, borrower financial condition, guarantor support and the probability of collecting scheduled principal and interest payments when due. For collateral-dependent loans for which repayment is to be provided substantially through the sale of the collateral, Management adjusts the fair value for estimated costs to sell. For collateral-dependent loans for which repayment is to be provided substantially through the operation of the collateral, estimated costs to sell are not incorporated into the measurement. Management may also adjust appraised values to reflect estimated market value declines or apply other discounts to appraised values for unobservable factors resulting from its knowledge of circumstances associated with the collateral. For pooled loans, the Company utilizes a DCF methodology to estimate credit losses over the expected life of the loan. The life of the loan excludes expected extensions, renewal and modifications, unless: (1) the extension or renewal options are included in the original or modified contract terms and not unconditionally cancellable by the Company; or (2) Management reasonably expects at the reporting date that a modification will be made to a borrower experiencing financial difficulty. The methodology incorporates the probability of default and loss given default, which are identified by default triggers such as past due by 90 or more days, whether a charge-off has occurred, the loan is non-accrual, or the loan is risk-rated as special mention, substandard, or doubtful. The probability of default for the life of the loan is determined by the use of an econometric factor. Management selected multiple economic forecasts including the civilian unemployment rate, residential property price indices, commercial price indices, and real disposable income, generally applying two forecasts to each loan segment. The forecasts assume that economic variables revert to long-term average. Reversion periods generally begin eight quarters after the forecast start date and generally concludes within sixteen quarters of the forecast start date. The DCF methodology combines the probability of default, the loss given default, maturity date and prepayment speeds to estimate a reserve for each loan. The sum of all the loan level reserves are aggregated for each portfolio segment and a loss rate factor is derived. Quantitative loss factors are also supplemented by certain qualitative risk factors reflecting Management’s view of how losses may vary from those represented by quantitative loss rates. These qualitative risk factors include: (1) changes in lending policies and procedures, including changes in underwriting standards and collection, charge-off, and recovery practices not considered elsewhere in estimating credit losses; (2) changes in international, national, regional, and local economic and business conditions and developments that affect the collectability of the portfolio, including the condition of various market segments; (3) changes in the nature of the portfolio and in the volume of past due loans; (4) changes in the experience, ability, and depth of lending management and other relevant staff; (5) changes in the quality of the loan review system; (6) changes in the value of underlying collateral for collateral-dependent loans; (7) the existence and effect of any concentrations of credit, and changes in the level of such concentrations; and (8) the effect of other external factors such as legal and regulatory requirements on the level of estimated credit losses in the institution’s existing portfolio. Qualitative loss factors are applied to each portfolio segment and determined based on the risk characteristics of each segment. Because the methodology is based upon historical experience and trends, current economic data, reasonable and supportable forecasts, as well as Management’s judgment, factors may arise that result in different estimations. Deteriorating conditions or assumptions could lead to further increases in the ACL on loans. In addition, various regulatory agencies periodically review the ACL on loans. Such agencies may require additions to the allowance based on their judgments about information available to them at the time of their examination. The ACL on loans is determined by an estimate of future credit losses, and ultimate losses may vary from Management’s estimate.
Allowance for Credit Losses on Unfunded Commitments	Allowance for Credit Losses on Unfunded Commitments The ACL on unfunded commitments is Management’s estimate of expected credit losses over the expected contractual term (or life) in which the Company is exposed to credit risk via a contractual obligation to extend credit, unless that obligation is unconditionally cancellable by the Company. For each portfolio, estimated loss rates and funding factors are applied to the corresponding balance of unfunded commitments. For each portfolio, the estimated loss rates applied to unfunded commitments are the same quantitative and qualitative loss rates applied to the corresponding on-balance sheet amounts in determining the ACL on loans. The estimated funding factor applied to unfunded commitments represents the likelihood that the funding will occur and is based upon the Company’s average historical utilization rate for each portfolio. The ACL on unfunded commitments is included in other liabilities in the Consolidated Balance Sheets. The ACL on unfunded commitments is adjusted through a provision for credit losses recognized in the Consolidated Statements of Income.
Loan Commitments and Related Financial Instruments	Loan Commitments and Related Financial Instruments Financial instruments include off-balance sheet credit instruments, such as commitments to make loans and commercial letters of credit, issued to meet customer financing needs. The face amount for these items represents the exposure to loss, before considering customer collateral or ability to repay. Such financial instruments are recorded when they are funded.
Property and Equipment	Property and Equipment Land is carried at cost. Buildings, leasehold improvements, and furniture and equipment are carried at cost, less accumulated depreciation and amortization, computed on the straight-line method over the estimated useful lives of the assets or the terms of the leases, if shorter. Expected terms include lease option periods to the extent that the exercise of such options is reasonably assured. Maintenance and repairs are charged to expense as incurred and improvements are capitalized.
Leases	Leases 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 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 December 31, 2024, 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 13, Operating Lease Right-of-Use Assets and Liabilities, for further information.
Retirement Plan Annuities	Retirement Plan Annuities Retirement plan annuities are reflected on the Consolidated Balance Sheets at the face amount of the policies. Changes in recorded value are reflected in income on retirement plan annuities on the Consolidated Statements of Income.
Bank-owned Life Insurance	Bank-owned Life Insurance Bank-owned life insurance policies are reflected on the Consolidated Balance Sheets at net cash surrender value. Changes in the net cash surrender value of the policies, as well as insurance proceeds received, are reflected in bank-owned life insurance income on the Consolidated Statements of Income and are not subject to income taxes. The Company is the beneficiary on these life insurance policies which are purchased for select employees of the Company.
Employee Stock Ownership Plan ("ESOP")	Employee Stock Ownership Plan (“ESOP”) Compensation expense for the Company’s ESOP is recorded at an amount equal to the shares committed to be allocated by the ESOP multiplied by the quarterly average fair market value of the shares during the year. The Company recognizes compensation expense ratably over the year based upon the Company’s estimate of the number of shares committed to be allocated by the ESOP. The difference between the average fair market value and the cost of the shares committed to be allocated by the ESOP is recorded as an adjustment to additional paid-in capital. Dividends on allocated ESOP shares reduce retained earnings; dividends on unearned ESOP shares reduce debt and accrued interest.
Mortgage Servicing Rights	Mortgage Servicing Rights When mortgage loans are sold with servicing retained, servicing rights are initially recorded at fair value with the income statement effect recorded in gains on sales of loans. Fair value is based on market prices for comparable mortgage servicing contracts, when available, or alternatively, is based on a valuation model that calculates the present value of estimated future net servicing income. Under the fair value measurement method, the Company measures servicing rights at fair value at each reporting date and reports changes in fair value of servicing assets in earnings in the period in which the changes occur and are included with changes in mortgage servicing rights fair value Servicing fee income, which is reported on the income statement as Mortgage banking income, Other income,
Derivative Financial Instruments	Derivative Financial Instruments At the inception of a derivative contract, the Company designates the derivative as one of three types based on the Company’s intentions and belief as to the likely effectiveness as a hedge. These three types are (1) a hedge of the fair value of a recognized asset or liability or of an unrecognized firm commitment (“fair value hedge”), (2) a hedge of a forecasted transaction or the variability of cash flows to be received or paid related to a recognized asset or liability (“cashflow hedge”), of (3) an instrument with no hedging designation (“stand-alone derivative”). For a fair value hedge, the gain or loss on the derivative, as well as the offsetting loss or gain on the hedged item attributable to the hedged risk, are recognized in current earnings as fair values change. For a cashflow hedge, the gain or loss on the derivative is reported in other comprehensive income and reclassified into earnings in the same periods during which the hedged transaction affects earnings. Changes in the fair value of derivatives that do not qualify for hedge accounting are reported currently in earnings, as non-interest income. Net cash settlements on derivatives that qualify for hedge accounting are recorded in interest income or interest expense, based on the item being hedged. Net cash settlements on derivatives that do not qualify for hedge accounting are reported in non-interest income. Cash flows on hedges are classified in the cash flow statement the same as the cash flows of the items being hedged. The Company formally documents all relationships between derivatives and hedged items, as well as the risk-management objective and strategy for undertaking various hedge transactions. This documentation includes linking fair value or cashflow hedges to specific assets and liabilities on the balance sheet or to specific firm commitments or forecasted transactions. The Company also formally assesses, both at the hedge’s inception and on an ongoing basis, whether the derivative instruments that are used in hedging transactions are highly effective in offsetting changes in fair values or cash flows of the hedged items. The Company discontinues hedge accounting prospectively when it is determined that (1) the derivative is no longer effective in offsetting changes in the fair value or cash flows of the hedged item; (2) the derivative expires, is sold, or terminated; (3) the derivative instrument is de-designated as a hedge because the forecasted transaction is no longer probable of occurring; (4) a hedged firm commitment no longer meets the definition of a firm commitment; or (5) Management otherwise determines that designation of the derivative as a hedging instrument is no longer appropriate. When hedge accounting is discontinued, subsequent changes in fair value of the derivative are recorded as noninterest income. When a fair value hedge is discontinued, the hedged asset or liability is no longer adjusted for changes in fair value and the existing basis adjustment is amortized or accreted over the remaining life of the asset or liability. When a cashflow hedge is discontinued but the hedged cash flows or forecasted transaction is still expected to occur, changes in value that were accumulated in other comprehensive income are amortized or accreted into earnings over the same periods which the hedged transactions will affect earnings. The Company accounts for commitments to fund mortgage loans (interest rate locks) to be sold into the secondary market and forward commitments for the future delivery of these mortgage loans as free standing derivatives. The fair value of the interest rate lock is recorded at the time the commitment to fund the mortgage loan is executed and is adjusted for the expected exercise of the commitment before the loan is funded. In order to hedge the change in interest rates resulting from its commitments to fund the loans, the Company enters into forward commitments for the future delivery of mortgage loans when interest rate locks are entered into. Fair values of these mortgage derivatives are estimated based on changes in mortgage interest rates from the date the interest on the loan is locked. Changes in fair value are recorded as gain on sale of mortgage loans. The Company also enters into interest rate swap contracts to meet the financing needs of the Company’s commercial customers. Offsetting swap agreements are simultaneously transacted to effectively eliminate the Company’s market and interest rate risk associated with the swaps. Interest rate swaps are recognized on the Consolidated Balance Sheets in other assets and other liabilities with changes in their fair values recorded in other income.
Transfers of Financial Assets	Transfers of Financial Assets Transfers of an entire financial asset, a group of entire financial assets, or a participating interest in an entire financial asset are accounted for as sales when control over the assets has been surrendered. Control over transferred assets is deemed to be surrendered when (1) the assets have been isolated from the Company, (2) the transferee obtains the right to pledge or exchange the transferred assets, and (3) the Company does not maintain effective control over the transferred assets. During the normal course of business, the Company may transfer a portion of a financial asset, for example, a participation loan or the government guaranteed portion of a loan. In order to be eligible for sale treatment, the transfer of the portion of the loan must meet the criteria of a participating interest. If it does not meet the criteria of a participating interest, the transfer must be accounted for as a secured borrowing. In order to meet the criteria for a participating interest, all cash flows from the loan must be divided proportionately, the rights of each loan holder must have the same priority, the loan holders must have no recourse to the transferor other than standard representations and warranties and no loan holder has the right to pledge or exchange the entire loan.
Other Real Estate Owned and Repossessed Assets	Other Real Estate Owned and Repossessed Assets Assets acquired through, or in lieu of, loan foreclosure are held for sale and are initially recorded at fair value less estimated costs to sell when legal title is obtained, establishing a new cost basis. Subsequently, valuations are periodically updated by Management and the assets are carried at the lower of carrying amount or fair value less estimated costs to sell. The excess (deficiency) of any consideration received as compared to the carrying value of other real estate owned is recorded as a gain (loss) on sale of other real estate owned. Revenues and expenses from operations and changes in the valuation allowance and any direct write-downs are included in foreclosed and repossessed assets expense. Repossessed assets includes automobiles to be sold which are recorded at estimated fair value, less costs to sell, with the initial charge to the allowance for credit losses and the subsequent gain or loss on sale recorded to foreclosed and repossessed assets expense.
Goodwill and Identifiable Intangible Assets	Goodwill and Identifiable Intangible Assets The assets (including identifiable intangible assets) and liabilities acquired in a business combination are recorded at fair value at the date of acquisition. Goodwill is recognized for the excess of the acquisition cost over the fair values of the net assets acquired and is not subsequently amortized. Identifiable intangible assets is the core deposit premium and is being amortized over their estimated lives. Management assesses the recoverability of goodwill at least on an annual basis and all intangible assets whenever events or changes in circumstances indicate that their carrying value may not be recoverable. The impairment test uses a combined qualitative and quantitative approach. The initial qualitative approach assesses whether the existence of events or circumstances led to a determination that it is more likely than not that the fair value of a reporting unit is less than its carrying amount. If, after this assessment, the Company determines that it is more likely than not that the fair value is less than the carrying value, a quantitative impairment test is performed. The quantitative impairment test compares book value to the fair value of the reporting unit. If the carrying amount exceeds fair value, an impairment charge is recorded through earnings. Management has identified two reporting units for purposes of testing goodwill for impairment. The Company’s reporting units are the same as the segments used for segment reporting - the Bank, including one security corporation and one passive investment company, and HarborOne Mortgage.
Income Taxes	Income Taxes Deferred tax assets and liabilities are determined using the asset and liability (or balance sheet) method. Under this method, the net deferred tax asset or liability is determined based on the tax effects of the temporary differences between the book and tax bases of the various balance sheet assets and liabilities and gives current recognition to changes in tax rates and laws in the period on enactment. A valuation allowance is established against deferred tax assets when, based upon the available evidence including historical and projected taxable income, it is more likely than not that some or all of the deferred tax assets will not be realized. The Company records uncertain tax positions on the basis of a two-step process in which (1) we determine whether it is more likely than not that the tax positions will be sustained on the basis of the technical merits of the position and (2) for those tax positions that meet the more-likely-than-not recognition threshold, we recognize the largest amount of tax benefit that is more than 50 percent likely to be realized upon ultimate settlement with the related tax authority. The determination of whether or not a tax position has met the more likely than not recognition threshold considers the facts, circumstances and information available at the reporting date and is subject to Management’s judgment. The Company records interest and penalties as part of income tax expense.
Fair Value of Financial Instruments	Fair Value of Financial Instruments The fair value of financial instruments is estimated using relevant market information and other assumptions, as more fully disclosed in a separate note. Fair value estimates involve uncertainties and matters of significant judgement regarding interest rates, credit risk, prepayments, and other factors, especially in the absence of broad markets for particular items. Changes in assumptions or in market conditions could significantly affect these estimates.
Share-based Compensation Plans	Share-based Compensation Plans The Company’s share-based compensation plans provide for awards of stock options, restricted stock and other stock-based compensation to directors, officers and employees. The cost of employee services received in exchange for awards of equity instruments is based on the grant-date fair value of those awards. Compensation cost is recognized over the requisite service period as a component of compensation expense. The Company uses the Black-Scholes option-pricing model to determine the fair value of stock options granted, while the market price of the Company’s common stock at the date of grant is used for restricted stock awards and performance stock units. Nonvested performance share unit compensation expense is based on the most recent performance assumption available and is adjusted as assumptions change. Dividends declared on restricted stock are accrued at each dividend declaration date and paid upon the issuance of the shares after the award vests. Dividends on performance share units are accrued at each dividend declaration date based on the most recent performance assumptions available and paid upon the issuance of the shares after the award vest. The Company has elected to recognize forfeitures of awards as they occur ( e.g.
Comprehensive Income (Loss)	Comprehensive Income (Loss) Comprehensive income (loss) consists of net income and other comprehensive income (loss). Other comprehensive income includes unrealized gains and losses on debt securities available for sale and cashflow hedges, net of taxes, which are also recognized as a separate component of equity.
Revenue Recognition	Revenue Recognition ASC 606, Revenue from Contracts with Customers, provides a revenue recognition framework for contracts with customers unless those contracts are within the scope of other accounting standards. Revenue from deposit account-related fees, including general service fees charged for deposit account maintenance and activity and transaction-based fees charged for certain services, such as debit card, wire transfer or overdraft activities, is recognized when the performance obligation is completed, which is generally after a transaction is completed or monthly for account maintenance services.
Earnings Per Share	Earnings Per Share Basic earnings per common share is net income divided by the weighted-average number of common shares outstanding during the period. Unallocated ESOP shares are not deemed outstanding for earnings per share calculations. Restricted stock awards are included in weighted average common shares outstanding as they are earned. Outstanding unvested share-based payment awards that contain rights to nonforfeitable dividends are considered participating securities for this calculation. Diluted earnings per common share includes the dilutive effect of additional potential common shares issuable. Potential common shares that may be issued by the Company relate to outstanding stock options awards and restricted stock awards and are determined using the treasury stock method.
Loss Contingencies	Loss Contingencies Loss contingencies, including claims and legal actions arising in the ordinary course of business, are recorded as liabilities when the likelihood of loss is probable and an amount or range of loss can be reasonably estimated.
Recent Accounting Pronouncements	Recent Accounting Pronouncements ASU 2023-07, “Segment Reporting: Improvements to Reportable Segment Disclosures.” ASU 2023-07 requires public entities to disclose information about their reportable segments’ significant expenses on an interim and annual basis. Public entities are required to disclose significant expense categories and amounts for each reportable segment. Significant expense categories are derived from expenses that are regularly reported to an entity’s CODM and included in a segment’s reported measures of profit or loss. Public entities are also required to disclose the title and position of the CODM and explain how the CODM uses the reported measures of profit or loss to assess segment performance. The ASU requires interim disclosures of certain segment-related disclosures that previously were only required annually. The ASU was effective for us December 31, 2024, and interim periods beginning after December 15, 2024. The adoption of the ASU did not have a material impact on the Company’s consolidated financial position or results of operations. ASU No. 2023-09, “Income Taxes (Topic 740): Improvements to Income Tax Disclosures.” ASU 2023-09 requires public business entities to disclose in their rate reconciliation table additional categories of information about federal, state and foreign income taxes and to provide more details about the reconciling items in some categories if items meet a quantitative threshold. ASU 2023-09 also requires all entities to disclose income taxes paid, net of refunds, disaggregated by federal, state and foreign taxes for annual periods and to disaggregate the information by jurisdiction based on a quantitative threshold, among other things. ASU 2023-09 is effective for us in 2025 and is not expected to have a significant impact on our financial statements. ASU No. 2024-03, “Income Statement - Reporting Comprehensive Income - Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses.” ASU 2024-03 requires disaggregated disclosure of income statement expenses for public business entities. ASU 2024-03 requires new financial statement disclosures in tabular format, disaggregating information about prescribed categories underlying any relevant income statement expense caption. The prescribed categories include, among other things, employee compensation, depreciation, and intangible asset amortization. Additionally, entities must disclose the total amount of selling expenses and, in annual reporting periods, an entity’s definition of selling expenses. ASU 2024-03 is effective for us, on a prospective basis, for annual periods beginning in 2027, and interim periods within fiscal years beginning in 2028, though early adoption and retrospective application is permitted. ASU 2024-03 is not expected to have a significant impact on our financial statements.

DEBT SECURITIES (Tables)

DEBT SECURITIES (Tables)	12 Months Ended
DEBT SECURITIES (Tables)	Dec. 31, 2024
DEBT SECURITIES
Schedule of securities available for sale and held to maturity	Gross Gross Allowance Amortized Unrealized Unrealized for Credit Fair Cost Gains Losses Losses Value (in thousands) December 31, 2024: Securities available for sale U.S. government and government-sponsored enterprise obligations $ 42,143 $ - $ 6,480 $ - $ 35,663 U.S. government agency and government-sponsored residential mortgage-backed securities 283,523 43 58,569 - 224,997 SBA asset-backed securities 1,446 - 64 - 1,382 Corporate bonds 2,000 13 151 - 1,862 Total securities available for sale $ 329,112 $ 56 $ 65,264 $ - $ 263,904 Securities held to maturity U.S. government and government-sponsored enterprise obligations $ 15,000 $ - $ 228 $ - $ 14,772 SBA asset-backed securities 4,627 - 114 - 4,513 Total securities held to maturity $ 19,627 $ - $ 342 $ - $ 19,285 Gross Gross Allowance Amortized Unrealized Unrealized for Credit Fair Cost Gains Losses Losses Value (in thousands) December 31, 2023: Securities available for sale U.S. government and government-sponsored enterprise obligations $ 47,143 $ - $ 6,961 $ - $ 40,182 U.S. government agency and government-sponsored residential mortgage-backed securities 300,277 3 54,683 - 245,597 U.S. government-sponsored collateralized mortgage obligations 1,852 - 70 - 1,782 SBA asset-backed securities 1,885 - 107 - 1,778 Corporate bonds 1,000 - 188 - 812 Total securities available for sale $ 352,157 $ 3 $ 62,009 $ - $ 290,151 Securities held to maturity U.S. government and government-sponsored enterprise obligations $ 15,000 $ - $ 438 $ - $ 14,562 SBA asset-backed securities 4,796 - 96 - 4,700 Total securities held to maturity $ 19,796 $ - $ 534 $ - $ 19,262
Schedule of debt securities by contractual maturity	Available for Sale Held to Maturity Amortized Fair Amortized Fair Cost Value Cost Value (in thousands) After 1 year through 5 years $ 17,643 $ 15,693 $ 15,000 $ 14,772 After 5 years through 10 years 26,500 21,832 - - Over 10 years - - - - 44,143 37,525 15,000 14,772 U.S. government agency and government-sponsored residential mortgage-backed securities 283,523 224,997 - - SBA asset-backed securities 1,446 1,382 4,627 4,513 Total $ 329,112 $ 263,904 $ 19,627 $ 19,285
Schedule of proceeds and gross realized gains and losses related to sales and calls of securities	Year Ended December 31, 2024 2023 2022 (in thousands) Sales Proceeds $ 16,584 $ - $ - Gross gains - - - Gross losses 1,041 - -
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) December 31, 2024: Securities available for sale U.S. government and government-sponsored enterprise obligations $ - $ - $ 6,480 $ 35,663 U.S. government agency and government-sponsored residential mortgage-backed securities 31 9,346 58,538 206,308 SBA asset-backed securities - - 64 1,382 Corporate bonds - - 151 849 $ 31 $ 9,346 $ 65,233 $ 244,202 Securities held to maturity U.S. government and government-sponsored enterprise obligations $ - $ - 228 14,772 SBA asset-backed securities 114 4,512 - - $ 114 $ 4,512 $ 228 $ 14,772 December 31, 2023: Securities available for sale U.S. government and government-sponsored enterprise obligations $ - $ - $ 6,961 $ 40,182 U.S. government agency and government-sponsored residential mortgage-backed securities - - 54,683 240,955 U.S. government-sponsored collateralized mortgage obligations - - 70 1,782 SBA asset-backed securities - - 107 1,778 Corporate bonds - - 188 812 $ - $ - $ 62,009 $ 285,509 Securities held to maturity U.S. government and government-sponsored enterprise obligations $ - $ - 438 14,562 SBA asset-backed securities 96 4,700 - - $ 96 $ 4,700 $ 438 $ 14,562

LOANS HELD FOR SALE (Tables)

LOANS HELD FOR SALE (Tables)	12 Months Ended
LOANS HELD FOR SALE (Tables)	Dec. 31, 2024
LOANS HELD FOR SALE
Schedule of fair value and contractual principal balance outstanding of loans held for sale	December 31, December 31, 2024 2023 (in thousands) Loans held for sale, fair value $ 36,768 $ 19,686 Loans held for sale, contractual principal outstanding 36,205 19,155 Fair value less unpaid principal balance $ 563 $ 531

LOANS AND ALLOWANCE FOR CREDI_2

LOANS AND ALLOWANCE FOR CREDIT LOSSES (Tables)	12 Months Ended
LOANS AND ALLOWANCE FOR CREDIT LOSSES (Tables)	Dec. 31, 2024
LOANS AND ALLOWANCE FOR CREDIT LOSSES
Summary of balances of loans	December 31, December 31, 2024 2023 (in thousands) Commercial: Commercial real estate $ 2,280,309 $ 2,343,675 Commercial construction 252,691 208,443 Commercial and industrial 594,453 466,443 Total commercial loans 3,127,453 3,018,561 Residential real estate: One- to four-family 1,506,571 1,513,554 Second mortgages and equity lines of credit 189,598 177,135 Residential real estate construction 11,307 18,132 Total residential real estate loans 1,707,476 1,708,821 Consumer loans: Auto 8,550 13,603 Personal 8,940 8,433 Total consumer loans 17,490 22,036 Total loans before basis adjustment 4,852,419 4,749,418 Basis adjustment associated with fair value hedge (1) 80 893 Total loans 4,852,499 4,750,311 Allowance for credit losses on loans (56,101) (47,972) Loans, net $ 4,796,398 $ 4,702,339 (1) Note 10 - Derivatives
Schedule of activity in allowance for loan losses and allocation of allowance to loan segments	Second Mortgages Commercial and Residential Commercial Commercial and One-to-Four- Equity Lines Real Estate Real Estate Construction Industrial Family Credit Construction Consumer Unallocated Total (in thousands) Balance at December 31, 2021 $ 33,242 $ 2,010 $ 4,638 $ 3,631 $ 420 $ 69 $ 367 $ 1,000 $ 45,377 Adoption of Topic 326 (10,194) 1,698 2,288 5,198 391 185 123 (1,000) (1,311) Charge-offs (4,964) - (253) - - - (76) - (5,293) Recoveries 38 - 1,563 2 117 - 79 - 1,799 Provision 2,235 937 (1,000) 2,701 (4) 26 (231) - 4,664 Balance at December 31, 2022 $ 20,357 $ 4,645 $ 7,236 $ 11,532 $ 924 $ 280 $ 262 $ - $ 45,236 Charge-offs (4,171) - (166) - - - (89) - (4,426) Recoveries 4 - 309 1 88 - 71 - 473 Provision 5,098 179 728 568 (48) 138 26 - 6,689 Balance at December 31, 2023 $ 21,288 $ 4,824 $ 8,107 $ 12,101 $ 964 $ 418 $ 270 $ - $ 47,972 Charge-offs - - (628) - - - (154) - (782) Recoveries 103 40 59 2 7 - 11 - 222 Provision 9,373 (607) 3,162 (3,383) 377 (232) (1) - 8,689 Balance at December 31, 2024 $ 30,764 $ 4,257 $ 10,700 $ 8,720 $ 1,348 $ 186 $ 126 $ - $ 56,101
Schedule of carrying value of collateral dependent individually analyzed loans	December 31, 2024 December 31, 2023 Related Related Carrying Value Allowance Carrying Value Allowance (in thousands) Commercial: Commercial real estate $ 44,983 $ 5,426 $ 7,416 $ 5 Commercial and industrial 11,935 560 1,793 101 Commercial construction - - - - Total Commercial 56,918 5,986 9,209 106 Residential real estate 10,321 - 8,054 - Total $ 67,239 $ 5,986 $ 17,263 $ 106
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) December 31, 2024 Commercial real estate $ 3,803 $ 40 $ - $ 3,843 $ 16,836 Commercial construction - - - - - Commercial and industrial 8,273 684 1,269 10,226 2,204 Residential real estate: One- to four-family 8,589 7,014 6,670 22,273 9,545 Construction - - - - - Second mortgages and equity lines of credit 466 312 183 961 864 Consumer: Auto 52 10 - 62 - Personal 42 16 4 62 14 Total $ 21,225 $ 8,076 $ 8,126 $ 37,427 $ 29,463 December 31, 2023 Commercial real estate $ - $ - $ 5,751 $ 5,751 $ 7,416 Commercial construction - - - - - Commercial and industrial 247 166 1,332 1,745 1,791 Residential real estate: One- to four-family 4,704 2,413 4,418 11,535 7,785 Second mortgages and equity lines of credit 164 130 57 351 473 Consumer: Auto 96 69 4 169 4 Personal 16 5 31 52 44 Total $ 5,227 $ 2,783 $ 11,593 $ 19,603 $ 17,513
Summary of troubled debt restructurings that were modified	Year Ended December 31, 2024 Combination Term Total Class Term Interest Rate Extension Interest Rate of Financing Extension Reduction Reduction Receivable (in thousands) Commercial real estate $ - $ 15,277 $ - 0.67 % Commercial and industrial 52 - - 0.01 % Residential real estate - - 106 0.01 % Total $ 52 $ 15,277 $ 106
Schedule of loans by risk rating	Revolving Revolving Loans Loans Converted Term Loans at Amortized Cost by Origination Year Amortized to Term 2024 2023 2022 2021 2020 Prior Cost Loans Total (in thousands) As of December 31, 2024 Commercial real estate Pass $ 82,833 $ 162,401 $ 743,173 $ 433,482 $ 190,543 $ 525,120 $ - $ - $ 2,137,552 Special mention - 6,872 39,614 7,539 12,077 12,149 - - 78,251 Substandard - 6,598 44,191 - - 13,717 - - 64,506 Doubtful - - - - - - - - - Total commercial real estate 82,833 175,871 826,978 441,021 202,620 550,986 - - 2,280,309 YTD gross charge-offs - - - - - - - - - Commercial and industrial Pass 80,926 78,767 72,636 82,638 63,043 93,493 104,897 - 576,400 Special mention 5 - 1,703 - - 1,279 2,783 - 5,770 Substandard - 178 2,874 3,844 - 3,841 260 - 10,997 Doubtful - - - - - 1,237 49 - 1,286 Total commercial and industrial 80,931 78,945 77,213 86,482 63,043 99,850 107,989 - 594,453 YTD gross charge-offs 69 26 303 122 74 34 - - 628 Commercial construction Pass 31,074 45,739 82,447 73,657 - - 1,972 - 234,889 Special mention - - 17,802 - - - - - 17,802 Substandard - - - - - - - - - Doubtful - - - - - - - - - Total commercial construction 31,074 45,739 100,249 73,657 - - 1,972 - 252,691 YTD gross charge-offs - - - - - - - - - Residential real estate Accrual 85,268 125,741 413,118 452,081 192,734 246,206 179,516 2,403 1,697,067 Non-accrual - - 469 673 113 8,572 577 5 10,409 Total residential real estate 85,268 125,741 413,587 452,754 192,847 254,778 180,093 2,408 1,707,476 YTD gross charge-offs - - - - - - - - - Consumer Accrual 7,134 4,040 3,186 1,113 279 720 1,004 - 17,476 Non-accrual 3 - 11 - - - - - 14 Total Consumer 7,137 4,040 3,197 1,113 279 720 1,004 - 17,490 YTD gross charge-offs - 63 35 25 10 21 - - 154 Total loans before basis adjustment $ 287,243 $ 430,336 $ 1,421,224 $ 1,055,027 $ 458,789 $ 906,334 $ 291,058 $ 2,408 $ 4,852,419 Total YTD gross charge-offs $ 69 $ 89 $ 338 $ 147 $ 84 $ 55 $ - $ - $ 782 Revolving Revolving Loans Loans Converted Term Loans at Amortized Cost by Origination Year Amortized to Term 2023 2022 2021 2020 2019 Prior Cost Loans Total (in thousands) As of December 31, 2023 Commercial real estate Pass $ 152,047 $ 828,335 $ 455,996 $ 234,585 $ 233,713 $ 405,103 $ - $ - $ 2,309,779 Special mention - 10,971 - 4,300 8,977 2,232 - - 26,480 Substandard - - - - - 1,670 - - 1,670 Doubtful - - - - - 5,746 - - 5,746 Total commercial real estate 152,047 839,306 455,996 238,885 242,690 414,751 - - 2,343,675 YTD gross charge-offs - - - - - 4,171 - - 4,171 Commercial and industrial Pass 73,240 52,190 94,570 70,565 22,988 75,493 74,125 - 463,171 Special mention - 454 4 23 2 948 50 - 1,481 Substandard - 52 8 - - 367 18 - 445 Doubtful - - - - - 1,297 49 - 1,346 Total commercial and industrial 73,240 52,696 94,582 70,588 22,990 78,105 74,242 - 466,443 YTD gross charge-offs 24 113 14 5 8 2 - - 166 Commercial construction Pass 35,181 109,291 60,113 843 - - 425 - 205,853 Special mention - 2,590 - - - - - - 2,590 Substandard - - - - - - - - - Doubtful - - - - - - - - - Total commercial construction 35,181 111,881 60,113 843 - - 425 - 208,443 YTD gross charge-offs - - - - - - - - - Residential real estate Accrual 138,541 434,421 480,010 202,118 38,675 239,185 166,144 1,469 1,700,563 Non-accrual - - - 127 956 6,959 216 - 8,258 Total residential real estate 138,541 434,421 480,010 202,245 39,631 246,144 166,360 1,469 1,708,821 YTD gross charge-offs - - - - - - - - - Consumer Accrual 8,218 5,366 2,254 1,021 3,135 963 1,031 - 21,988 Non-accrual 14 18 5 - 2 4 5 - 48 Total Consumer 8,232 5,384 2,259 1,021 3,137 967 1,036 - 22,036 YTD gross charge-offs 7 16 4 15 18 29 - - 89 Total loans before basis adjustment $ 407,241 $ 1,443,688 $ 1,092,960 $ 513,582 $ 308,448 $ 739,967 $ 242,063 $ 1,469 $ 4,749,418 Total YTD gross charge-offs $ 31 $ 129 $ 18 $ 20 $ 26 $ 4,202 $ - $ - $ 4,426

MORTGAGE LOAN SERVICING (Tables

MORTGAGE LOAN SERVICING (Tables)	12 Months Ended
MORTGAGE LOAN SERVICING (Tables)	Dec. 31, 2024
MORTGAGE LOAN SERVICING
Schedule of weighted average assumptions used in the calculation of fair value of MSRs	December 31, December 31, 2024 2023 Prepayment speed 7.67 % 7.60 % Discount rate 9.97 9.81 Default rate 1.83 2.27
Schedule of summarized changes to mortgage servicing rights	Year Ended December 31, 2024 2023 2022 Balance, beginning of period $ 46,111 $ 48,138 $ 38,268 Additions 1,107 2,657 4,538 Changes in fair value due to: Reductions from loans paid off during the period (2,176) (1,981) (2,921) Changes in valuation inputs or assumptions (542) (2,703) 8,253 Balance, end of period $ 44,500 $ 46,111 $ 48,138

PROPERTY AND EQUIPMENT (Tables)

PROPERTY AND EQUIPMENT (Tables)	12 Months Ended
PROPERTY AND EQUIPMENT (Tables)	Dec. 31, 2024
PROPERTY AND EQUIPMENT
Summary of the cost and accumulated depreciation of property and equipment	December 31, 2024 2023 (in thousands) Land $ 12,053 $ 12,053 Buildings and leasehold improvements 49,615 49,355 Furniture, equipment and vehicles 18,401 18,762 Fixed assets in process 14 408 80,083 80,578 Less accumulated depreciation and amortization (33,830) (31,829) Property and equipment, net $ 46,253 $ 48,749

GOODWILL AND OTHER INTANGIBLE_2

GOODWILL AND OTHER INTANGIBLE ASSETS (Tables)	12 Months Ended
GOODWILL AND OTHER INTANGIBLE ASSETS (Tables)	Dec. 31, 2024
GOODWILL AND OTHER INTANGIBLE ASSETS
Schedule of intangible assets	December 31, 2024 2023 (in thousands) Gross amount of CDI: Balance, beginning of period $ 8,952 $ 8,952 Additions due to acquisitions - - Balance, end of period 8,952 8,952 Accumulated amortization: Balance, beginning of period (7,437) (6,680) Amortization (758) (757) Balance, end of period (8,195) (7,437) Net CDI, end of period $ 757 $ 1,515

DEPOSITS (Tables)

DEPOSITS (Tables)	12 Months Ended
DEPOSITS (Tables)	Dec. 31, 2024
DEPOSITS
Summary of deposit balances, by type	December 31, December 31, 2024 2023 (in thousands) NOW and demand deposit accounts $ 988,984 $ 965,798 Regular savings and club accounts 895,232 1,265,315 Money market deposit accounts 1,195,209 966,201 Total non-certificate accounts 3,079,425 3,197,314 Term certificate accounts greater than $250,000 303,334 240,702 Term certificate accounts less than or equal to $250,000 766,510 622,755 Brokered deposits 401,484 326,638 Total certificate accounts 1,471,328 1,190,095 Total deposits $ 4,550,753 $ 4,387,409
Summary of certificate accounts by maturity	Weighted Average Amount Rate (dollars in thousands) Within 1 year $ 1,284,802 4.63 % Over 1 year to 2 years 155,744 4.27 Over 2 years to 3 years 27,401 4.15 Over 3 years to 4 years 1,893 3.44 Over 4 years to 5 years 1,488 3.48 Total certificate deposits $ 1,471,328 4.58 %

BORROWINGS (Tables)

BORROWINGS (Tables)	12 Months Ended
BORROWINGS (Tables)	Dec. 31, 2024
BORROWINGS
Schedule of borrowed funds by maturity and call date	December 31, 2024 December 31, 2023 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: 2024 $ - $ - - % $ 13,400 163,400 1.39 % 2025 60,987 230,987 4.32 90,987 60,987 4.31 2026 75,000 40,000 4.39 110,000 40,000 4.20 2027 85,000 - 4.17 10,000 — 3.72 2028 59,198 19,198 4.04 40,000 — 3.86 2029 23,128 13,128 4.06 - — - 2030 and thereafter 1,242 1,242 1.68 1,075 1,075 2.00 $ 304,555 $ 304,555 4.21 % $ 265,462 $ 265,462 4.02 % * Includes an amortizing advance requiring monthly principal and interest payments. (1) (2)

INCOME TAXES (Tables)

INCOME TAXES (Tables)	12 Months Ended
INCOME TAXES (Tables)	Dec. 31, 2024
INCOME TAXES
Schedule of allocation of federal and state income taxes between current and deferred portions	2024 2023 2022 (in thousands) Current tax provision: Federal $ 8,455 $ 7,264 $ 8,962 State 3,448 3,562 4,016 11,903 10,826 12,978 Deferred tax provision(benefit): Federal (3,583) (1,255) 2,000 State (1,470) (523) 1,162 (5,053) (1,778) 3,162 Income tax provision $ 6,850 $ 9,048 $ 16,140
Schedule of difference between the statutory federal income tax and the actual income tax provision	2024 2023 2022 (dollars in thousands) Statutory tax rate 21% 21% 21% Statutory tax provision $ 7,194 $ 5,276 $ 12,963 Increase (decrease) resulting from: State taxes, net of federal tax benefit 1,564 2,401 4,092 Bank-owned life insurance (640) (236) (416) Employee stock ownership plan expenses 173 139 303 Tax-exempt income (756) (503) (932) Goodwill impairment - 2,260 - Net addition (reduction) in uncertain federal tax positions (541) 6 (115) Amended return benefit (508) - - Other, net 364 (295) 245 Income tax provision $ 6,850 $ 9,048 $ 16,140
Schedule of tax effects give rise to deferred taxes	2024 2023 (in thousands) Deferred tax assets: Allowance for credit losses $ 16,743 $ 14,851 Employee benefit plans 6,280 6,479 Mark-to-market loans 733 899 Accrued expenses not deducted for tax purposes 754 832 HarborOne Mortgage loan repurchase reserve 835 852 Net unrealized loss on securities available for sale 14,534 14,550 Operating lease liability 6,371 7,019 Other 949 519 47,199 46,001 Deferred tax liabilities: Derivatives (331) (2,457) Deferred income annuities (596) (1,370) Depreciation and amortization (1,077) (1,470) Deferred loan fees (4,351) (4,445) Mortgage servicing rights (12,499) (13,201) Right of use asset (5,884) (6,547) Core deposit intangible (213) (433) Other - - (24,951) (29,923) Net deferred tax asset $ 22,248 $ 16,078
Schedule of change in net deferred tax asset (liability)	2024 2023 2022 (in thousands) Balance at beginning of year $ 16,078 $ 13,872 $ 3,975 Deferred tax (provision) benefit 5,053 1,778 (3,162) Adoption of CECL - - 736 Change in directors' retirement plan - - (59) Change in cash flow hedge 1,133 923 (1,862) Change in securities available for sale (16) (495) 14,244 Balance at end of year $ 22,248 $ 16,078 $ 13,872
Schedule of changes in unrecognized tax benefits	2024 2023 2022 (in thousands) Balance at beginning of year $ 610 $ 599 $ 655 Additions based on tax positions related to current year - - - Additions for tax positions for prior years 5 142 244 Reductions for tax positions for prior years (546) (131) (300) Settlements - - - Balance at end of year $ 69 $ 610 $ 599
Schedule of unrecognized tax benefits, the amount of interest accrued and range of reasonably possible changes	Unrecognized tax benefits $ 59 Accrued interest on unrecognized tax benefits 10 Portion that, if recognized, would reduce tax expense and effective tax rate 69 Reasonably possible reduction to the balance of unrecognized tax in subsequent year 69 Portion that, if recognized, would reduce tax expense and effective tax rate 69

OTHER COMMITMENTS AND CONTING_2

OTHER COMMITMENTS AND CONTINGENCIES (Tables)	12 Months Ended
OTHER COMMITMENTS AND CONTINGENCIES (Tables)	Dec. 31, 2024
Schedule of financial instruments with off-balance sheet credit risk	December 31, December 31, 2024 2023 (in thousands) Commitments to grant residential real estate loans-HarborOne Mortgage $ 38,929 $ 35,029 Commitments to grant other loans 25,191 48,547 Unadvanced funds on home equity lines of credit 281,890 260,376 Unadvanced funds on revolving lines of credit 270,735 306,943 Unadvanced funds on construction loans 166,726 210,829
Schedule of activity in the ACL on unfunded commitments	Second Mortgages Commercial and Residential Commercial Commercial and One-to-Four- Equity Lines Real Estate Real Estate Construction Industrial Family Credit Construction Consumer Unallocated Total (in thousands) Balance at December 31, 2021 $ 33,242 $ 2,010 $ 4,638 $ 3,631 $ 420 $ 69 $ 367 $ 1,000 $ 45,377 Adoption of Topic 326 (10,194) 1,698 2,288 5,198 391 185 123 (1,000) (1,311) Charge-offs (4,964) - (253) - - - (76) - (5,293) Recoveries 38 - 1,563 2 117 - 79 - 1,799 Provision 2,235 937 (1,000) 2,701 (4) 26 (231) - 4,664 Balance at December 31, 2022 $ 20,357 $ 4,645 $ 7,236 $ 11,532 $ 924 $ 280 $ 262 $ - $ 45,236 Charge-offs (4,171) - (166) - - - (89) - (4,426) Recoveries 4 - 309 1 88 - 71 - 473 Provision 5,098 179 728 568 (48) 138 26 - 6,689 Balance at December 31, 2023 $ 21,288 $ 4,824 $ 8,107 $ 12,101 $ 964 $ 418 $ 270 $ - $ 47,972 Charge-offs - - (628) - - - (154) - (782) Recoveries 103 40 59 2 7 - 11 - 222 Provision 9,373 (607) 3,162 (3,383) 377 (232) (1) - 8,689 Balance at December 31, 2024 $ 30,764 $ 4,257 $ 10,700 $ 8,720 $ 1,348 $ 186 $ 126 $ - $ 56,101
Unfunded Commitment
Schedule of activity in the ACL on unfunded commitments	Commercial Commercial Commercial Residential Real Estate Construction and Industrial Real Estate Consumer Total (in thousands) Balance at December 31, 2021 $ - $ - $ - $ - $ - $ - Adoption of Topic 326 380 2,561 658 318 14 3,931 Provision 248 518 212 18 - 996 Balance at December 31, 2022 $ 628 $ 3,079 $ 870 $ 336 $ 14 $ 4,927 Provision (217) (728) 12 (82) 6 (1,009) Balance at December 31, 2023 $ 411 $ 2,351 $ 882 $ 254 $ 20 $ 3,918 Provision 536 (953) (89) 105 (11) (412) Balance at December 31, 2024 $ 947 $ 1,398 $ 793 $ 359 $ 9 $ 3,506

DERIVATIVES (Tables)

DERIVATIVES (Tables)	12 Months Ended
DERIVATIVES (Tables)	Dec. 31, 2024
DERIVATIVES
Schedule of amounts recorded on the Consolidated Balance Sheets related to cumulative basis adjustment for fair value hedges	Cumulative Amount of Fair Value Hedging Adjustment Included in the Line Item in the Consolidated Balance Sheets Carrying Amount of the Hedged Carrying Amount of the Hedged in Which the Hedged Item is Included Assets Assets December 31, December 31, December 31, December 31, 2024 2023 2024 2023 (in thousands) Loans held for investment (1) $ 100,080 $ 100,893 $ 80 $ 893 Total $ 100,080 $ 100,893 $ 80 $ 893 (1)
Schedule of outstanding notional balances and fair values of outstanding derivative instruments	Assets Liabilities Notional Fair Fair Amount Value Value (in thousands) December 31, 2024: Derivatives designated as hedging instruments Fair value hedge - interest rate swaps $ 100,000 $ 112 $ 84 Cashflow hedge - interest rate swap 100,000 1,040 - Total derivatives designated as hedging instruments $ 1,152 $ 84 Derivatives not designated as hedging instruments Derivative loan commitments $ 38,929 $ 374 $ 61 Forward loan sale commitments 50,500 382 4 Interest rate swaps 1,015,448 23,021 23,021 Risk participation agreements 216,245 - - Interest Rate Futures 35,400 - 376 Total derivatives not designated as hedging instruments $ 23,777 $ 23,462 Total derivatives $ 24,929 $ 23,546 December 31, 2023: Derivatives designated as hedging instruments Fair value hedge - interest rate swaps $ 100,000 $ - $ 855 Cashflow hedge - interest rate swap 100,000 5,095 - Total derivatives designated as hedging instruments $ 5,095 $ 855 Derivatives not designated as hedging instruments Derivative loan commitments $ 30,165 $ 480 $ 158 Forward loan sale commitments 30,000 4 293 Interest rate swaps 863,348 23,245 23,245 Risk participation agreements 189,275 - - Total derivatives not designated as hedging instruments $ 23,729 $ 23,696 Total derivatives $ 28,824 $ 24,551
Schedule of net gains and losses on derivative instruments	Location of gain (loss) recognized in Year Ended December 31, Income 2024 2023 2022 Derivatives designated as fair value hedge Hedged items - loans Interest income $ (814) $ 893 $ - Interest rate swap contracts Interest income 883 (855) - Total $ 69 $ 38 $ - Derivatives not designated as hedging instruments Derivative loan commitments Mortgage banking income $ (10) $ 150 $ (1,259) Forward loan sale commitments Mortgage banking income 668 (500) 248 Interest rate futures Mortgage banking income (986) - - Interest rate swaps Other income - - 330 Total $ (328) $ (350) $ (681)
Schedule of effect of cash flow hedge accounting on accumulated other comprehensive income	Year Ended December 31, 2024 2023 2022 Derivatives designated as hedging instruments (Loss) gain in OCI on derivatives (effective portion), net of tax $ (2,895) $ (2,314) $ 4,783 Gain (loss) reclassified from OCI into interest income or interest expense (effective portion) $ 4,883 $ 4,622 $ 1,164
Schedule of offsetting of derivative and amounts subject to an enforceable master netting arrangement, not offset in the Consolidated Balance Sheets	Gross Amounts Not Offset in the Consolidated Balance Sheets Net Amounts Gross Amounts Gross Amounts Assets (Liabilities) Cash of Recognized Offset in the presented in the Collateral Assets Consolidated Consolidated Financial (Received) Net (Liabilities) Balance Sheets Balance Sheets Instruments Posted Amount (in thousands) Derivatives designated as hedging instruments Interest rate swap on deposits $ 1,040 $ - $ 1,040 $ - $ (1,040) $ - Interest rate swaps on residential real estate loans $ 28 $ - $ 28 $ - $ - $ 28 Derivatives not designated as hedging instruments Customer interest rate swaps $ 21,824 $ - $ 21,824 $ - $ (6,560) $ 15,264

OPERATING LEASE RIGHT-OF-USE _2

OPERATING LEASE RIGHT-OF-USE ASSETS AND LIABILITIES (Tables)	12 Months Ended
	Dec. 31, 2024
OPERATING LEASE RIGHT-OF-USE ASSETS AND LIABILITIES
Schedule of future minimum lease payments under non-cancellable leases and a reconciliation to the amount recorded as operating lease liabilities	December 31, 2024 (in thousands) 2025 $ 2,829 2026 2,661 2027 2,536 2028 2,293 2029 2,045 Thereafter 15,084 Total lease payments 27,448 Imputed interest (4,765) Total present value of operating lease liabilities $ 22,683
Schedule of weighted-average discount rate and remaining lease term	December 31, 2024 December 31, 2023 Weighted-average discount rate 2.15 % 2.08 % Weighted-average remaining lease term (years) 15.85 16.24
Schedule of components of total lease expense	Year Ended December 31, 2024 2023 2022 Lease Expense: Operating lease expense $ 2,868 $ 3,123 $ 3,301 Short-term lease expense 116 135 138 Variable lease expense 21 15 - Sublease income - (12) (13) Total lease expense $ 3,005 $ 3,261 $ 3,426 Other Information Cash paid for amounts included in the measurement of lease liabilities- operating cash flows for operating leases 2,898 3,143 3,261 Operating Lease - Operating cash flows (Liability reduction) 2,410 2,609 2,722 ROU assets obtained in exchange for new operating lease liabilities 489 606 3,257

COMPENSATION AND BENEFIT PLANS

COMPENSATION AND BENEFIT PLANS (Tables)	12 Months Ended
COMPENSATION AND BENEFIT PLANS (Tables)	Dec. 31, 2024
COMPENSATION AND BENEFIT PLANS
Schedule of share information held by the ESOP	December 31, 2024 2023 Allocated shares 1,501,269 1,336,207 Shares committed to be allocated 230,723 230,723 Unallocated shares 2,679,670 2,910,393 Total shares 4,411,662 4,477,323 Fair value of unallocated shares $ 31,700,494 $ 34,866,506

STOCK-BASED COMPENSATION (Table

STOCK-BASED COMPENSATION (Tables)	12 Months Ended
STOCK-BASED COMPENSATION (Tables)	Dec. 31, 2024
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, 2024 1,049,075 $ 10.00 - $ - Exercised (13,000) 10.23 - - Forfeited - - - - Expired - - - - Balance at December 31, 2024 1,036,075 $ 9.99 3.12 $ 1,903,072 - $ - Exercisable at December 31, 2024 1,036,075 $ 9.99 3.12 $ 1,903,072
Restricted Stock Awards
Schedule of unvested stock award activity	Restricted Weighted Average Stock Awards Grant Price Non-vested stock awards at January 1, 2024 249,228 $ 13.68 Vested (130,146) 13.45 Granted 220,917 10.20 Forfeited (35,492) 11.65 Non-vested stock awards at December 31, 2024 304,507 $ 11.49 Unrecognized cost inclusive of directors' awards $ 1,945,215 Weighted average remaining recognition period (years) 0.92
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, 2024 155,115 $ 13.42 Vested (63,860) 11.95 Granted 65,305 10.02 Forfeited (9,088) 12.87 Non-vested performance restricted stock units at December 31, 2024 147,472 $ 12.58 Unrecognized cost $ 662,900 Weighted average remaining recognition period (years) 0.93

MINIMUM REGULATORY CAPITAL RE_2

MINIMUM REGULATORY CAPITAL REQUIREMENTS (Tables)	12 Months Ended
MINIMUM REGULATORY CAPITAL REQUIREMENTS (Tables)	Dec. 31, 2024
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. December 31, 2024 Common equity Tier 1 capital to risk-weighted assets $ 565,319 11.8 % $ 215,789 4.5 % N/A N/A Tier 1 capital to risk-weighted assets 565,319 11.8 287,718 6.0 N/A N/A Total capital to risk-weighted assets 624,926 13.0 383,624 8.0 N/A N/A Tier 1 capital to average assets 565,319 9.8 229,865 4.0 N/A N/A December 31, 2023 Common equity Tier 1 capital to risk-weighted assets $ 567,248 12.0 % $ 212,816 4.5 % N/A N/A Tier 1 capital to risk-weighted assets 567,248 12.0 283,755 6.0 N/A N/A Total capital to risk-weighted assets 619,138 13.1 378,340 8.0 N/A N/A Tier 1 capital to average assets 567,248 10.0 226,690 4.0 N/A N/A HarborOne Bank December 31, 2024 Common equity Tier 1 capital to risk-weighted assets $ 528,185 11.0 % $ 215,846 4.5 % 311,778 6.5 % Tier 1 capital to risk-weighted assets 528,185 11.0 287,795 6.0 383,727 8.0 Total capital to risk-weighted assets 587,792 12.3 383,727 8.0 479,659 10.0 Tier 1 capital to average assets 528,185 9.2 229,836 4.0 287,295 5.0 December 31, 2023 Common equity Tier 1 capital to risk-weighted assets $ 509,791 10.8 % $ 212,724 4.5 % $ 307,267 6.5 % Tier 1 capital to risk-weighted assets 509,791 10.8 283,632 6.0 378,175 8.0 Total capital to risk-weighted assets 561,682 11.9 378,175 8.0 472,719 10.0 Tier 1 capital to average assets 509,791 9.0 226,666 4.0 283,333 5.0

COMPREHENSIVE INCOME (LOSS) (Ta

COMPREHENSIVE INCOME (LOSS) (Tables)	12 Months Ended
COMPREHENSIVE INCOME (LOSS) (Tables)	Dec. 31, 2024
COMPREHENSIVE INCOME (LOSS)
Summary of changes in accumulated other comprehensive income (loss)	Year Ended December 31, 2024 2023 2022 Post- Available Cash Post- Available Cash Post- Available Cash retirement for Sale Flow retirement for Sale Flow retirement for Sale Flow Benefit Securities Hedge Total Benefit Securities Hedge Total Benefit Securities Hedge Total (in thousands) Balance at beginning of period $ 85 $ (47,373) $ 3,666 $ (43,622) $ 150 $ (53,212) $ 5,980 $ (47,082) $ - $ (2,834) $ 1,197 $ (1,637) Other comprehensive income (loss) before reclassifications (47) (4,243) 828 (3,462) 1 6,249 1,403 7,653 251 (64,620) 7,815 (56,554) Amounts reclassified from accumulated other comprehensive income (loss) (84) 1,041 (4,883) (3,926) (66) - (4,622) (4,688) (42) - (1,164) (1,206) Net current period other comprehensive income (loss) (131) (3,202) (4,055) (7,388) (65) 6,249 (3,219) 2,965 209 (64,620) 6,651 (57,760) Related tax effect - (45) 1,160 1,115 - (410) 905 495 (59) 14,242 (1,868) 12,315 Balance at end of period $ (46) $ (50,620) $ 771 $ (49,895) $ 85 $ (47,373) $ 3,666 $ (43,622) $ 150 $ (53,212) $ 5,980 $ (47,082)

FAIR VALUE OF ASSETS AND LIAB_2

FAIR VALUE OF ASSETS AND LIABILITIES (Tables)	12 Months Ended
FAIR VALUE OF ASSETS AND LIABILITIES (Tables)	Dec. 31, 2024
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) December 31, 2024 Assets Securities available for sale $ - $ 263,904 $ - $ 263,904 Loans held for sale - 36,768 - 36,768 Mortgage servicing rights - 44,500 - 44,500 Derivatives - 24,173 756 24,929 $ - $ 369,345 $ 756 $ 370,101 Liabilities Derivatives $ - $ 23,481 $ 65 $ 23,546 December 31, 2023 Assets Securities available for sale $ - $ 290,151 $ - $ 290,151 Loans held for sale - 19,686 - 19,686 Mortgage servicing rights - 46,111 - 46,111 Derivatives - 28,340 484 28,824 $ - $ 384,288 $ 484 $ 384,772 Liabilities Derivatives $ - $ 24,100 $ 451 $ 24,551
Schedule of changes in Level 3 assets measured at fair value on a recurring basis	Year Ended December 31, 2024 2023 2022 Assets: Derivative and Forward Loan Sale Commitments: Balance at beginning of period $ 484 $ 487 $ 1,583 Total gains (losses) included in net income (1) 272 (3) (1,096) Balance at end of period $ 756 $ 484 $ 487 Changes in unrealized gains relating to instruments at period end $ 756 $ 484 $ 487 Liabilities: Derivative and Forward Loan Sale Commitments: Balance at beginning of period $ (451) $ (104) $ (189) Total gains (losses) included in net income (1) 386 (347) 85 Balance at end of period $ (65) $ (451) $ (104) Changes in unrealized losses relating to instruments at period end $ (65) $ (451) $ (104) (1) Included in mortgage banking income on the Consolidated Statements of Income.
Schedule of changes in Level 3 liabilities measured at fair value on a recurring basis	Year Ended December 31, 2024 2023 2022 Assets: Derivative and Forward Loan Sale Commitments: Balance at beginning of period $ 484 $ 487 $ 1,583 Total gains (losses) included in net income (1) 272 (3) (1,096) Balance at end of period $ 756 $ 484 $ 487 Changes in unrealized gains relating to instruments at period end $ 756 $ 484 $ 487 Liabilities: Derivative and Forward Loan Sale Commitments: Balance at beginning of period $ (451) $ (104) $ (189) Total gains (losses) included in net income (1) 386 (347) 85 Balance at end of period $ (65) $ (451) $ (104) Changes in unrealized losses relating to instruments at period end $ (65) $ (451) $ (104) (1) Included in mortgage banking income on the Consolidated Statements of Income.
Schedule of assets measured at fair value on a non-recurring basis	December 31, December 31, 2024 2023 Level 1 Level 2 Level 3 Level 1 Level 2 Level 3 (in thousands) Collateral-dependent individually analyzed loans $ - $ - $ 47,463 $ - $ - $ 5,746
Schedule of changes in Level 3 assets measured at fair value on a non-recurring basis	Fair Value December 31, December 31, Valuation Technique 2024 2023 (in thousands) Collateral-dependent individually analyzed loans $ 47,463 $ 5,908 Appraisals of collateral (1) (1)
Schedule of estimated fair values and related carrying amounts of financial instruments	December 31, 2024 Carrying Fair Value Amount Level 1 Level 2 Level 3 Total (in thousands) Financial assets: Cash and cash equivalents $ 231,071 $ 231,071 $ - $ - $ 231,071 Securities available for sale 263,904 - 263,904 - 263,904 Securities held to maturity 19,627 - 19,285 - 19,285 Federal Home Loan Bank stock 23,277 N/A N/A N/A N/A Loans held for sale 36,768 - 36,768 - 36,768 Loans, net 4,796,398 - - 4,577,140 4,577,140 Retirement plan annuities 15,698 - - 15,698 15,698 Accrued interest receivable 18,393 - 18,393 - 18,393 Derivatives 24,929 - 24,173 756 24,929 Financial liabilities: Deposits 4,550,753 - - 4,549,755 4,549,755 Borrowed funds 516,555 - 516,287 - 516,287 Mortgagors' escrow accounts 8,537 - - 8,537 8,537 Accrued interest payable 6,575 - 6,575 - 6,575 Derivatives 23,546 - 23,481 65 23,546 December 31, 2023 Carrying Fair Value Amount Level 1 Level 2 Level 3 Total (in thousands) Financial assets: Cash and cash equivalents $ 227,350 $ 227,350 $ - $ - $ 227,350 Securities available for sale 290,151 - 290,151 - 290,151 Securities held to maturity 19,796 - 19,262 - 19,262 Federal Home Loan Bank stock 27,098 N/A N/A N/A N/A Loans held for sale 19,686 - 19,686 - 19,686 Loans, net 4,702,339 - - 4,482,448 4,482,448 Retirement plan annuities 15,170 - - 15,170 15,170 Accrued interest receivable 18,169 - 18,169 - 18,169 Derivatives 28,824 - 28,340 484 28,824 Financial liabilities: Deposits 4,387,409 - - 4,376,269 4,376,269 Borrowed funds 568,462 - 567,158 - 567,158 Mortgagors' escrow accounts 8,872 - - 8,872 8,872 Accrued interest payable 5,251 - 5,251 - 5,251 Derivatives 24,551 - 24,100 451 24,551

EARNINGS PER SHARE ("EPS") (Tab

EARNINGS PER SHARE ("EPS") (Tables)	12 Months Ended
EARNINGS PER SHARE ("EPS") (Tables)	Dec. 31, 2024
EARNINGS PER SHARE ("EPS")
Schedule of basic and diluted earnings per share	Year Ended December 31, 2024 2023 2022 Net income available to common stockholders (in thousands) $ 27,407 $ 16,077 $ 45,589 Average number of common shares outstanding 44,537,282 46,732,435 50,293,762 Less: Average unallocated ESOP shares and non-vested restricted shares (3,316,397) (3,510,697) (3,810,098) Weighted average number of common shares outstanding used to calculate basic earnings per common share 41,220,885 43,221,738 46,483,664 Dilutive effect of share-based compensation 251,221 197,884 634,793 Weighted average number of common shares outstanding used to calculate diluted earnings per common share 41,472,106 43,419,622 47,118,457 Earnings per common share: Basic $ 0.66 $ 0.37 $ 0.98 Diluted $ 0.66 $ 0.37 $ 0.97

SEGMENT REPORTING (Tables)

SEGMENT REPORTING (Tables)	12 Months Ended
SEGMENT REPORTING (Tables)	Dec. 31, 2024
SEGMENT REPORTING
Summary of reportable segments	Year Ended December 31, 2024 HarborOne HarborOne Bank Mortgage Other Eliminations Consolidated (in thousands) Interest and dividend income $ 270,677 $ 2,448 $ 14,042 $ (15,759) $ 271,408 Interest expense (145,633) (1,883) - 1,760 (145,756) Net interest and dividend income 125,044 565 14,042 (13,999) 125,652 Provision for credit losses 8,277 - - - 8,277 Net interest and dividend income, after provision for credit losses 116,767 565 14,042 (13,999) 117,375 Mortgage banking income: Gain on sale of mortgage loans - 12,860 - - 12,860 Intersegment (loss) gain (1,218) 1,097 - 121 - Changes in mortgage servicing rights fair value (246) (3,458) - - (3,704) Other 704 8,749 - 9,453 Total mortgage banking (loss) income (760) 19,248 - 121 18,609 Other noninterest income 28,269 14 25 - 28,308 Total noninterest income 27,509 19,262 25 121 46,917 Compensation and benefits 61,250 15,156 (2,390) 74,016 Other noninterest expense 48,100 5,514 2,404 1 56,019 Total noninterest expense 109,350 20,670 14 1 130,035 Income (loss) before income taxes 34,926 (843) 14,053 (13,879) 34,257 Provision (benefit) for income taxes 7,586 (871) 135 - 6,850 Net income (loss) $ 27,340 $ 28 $ 13,918 $ (13,879) $ 27,407 Total assets at period end $ 5,761,406 $ 117,411 $ 581,223 $ (706,907) $ 5,753,133 Total liabilities at period end $ 5,223,543 $ 60,428 $ 6,212 $ (112,061) $ 5,178,122 Goodwill at period end $ 59,042 $ - $ - $ - $ 59,042 Year Ended December 31, 2023 HarborOne HarborOne Bank Mortgage Other Eliminations Consolidated (in thousands) Interest and dividend income $ 243,367 $ 2,106 $ 49,582 $ (50,767) $ 244,288 Interest expense 114,210 1,300 2,775 (1,268) 117,017 Net interest and dividend income 129,157 806 46,807 (49,499) 127,271 Provision for credit losses 5,680 - - - 5,680 Net interest and dividend income, after provision for credit losses 123,477 806 46,807 (49,499) 121,591 Mortgage banking income: Gain on sale of mortgage loans - 10,404 - - 10,404 Intersegment (loss) gain (1,063) 849 - 214 - Changes in mortgage servicing rights fair value (346) (4,338) - - (4,684) Other 769 8,330 - - 9,099 Total mortgage banking (loss) income (640) 15,245 - 214 14,819 Other noninterest income 26,996 (2) 41 - 27,035 Total noninterest income 26,356 15,243 41 214 41,854 Compensation and benefits 61,604 14,506 (2,193) - 73,917 Goodwill impairment - 10,760 - - 10,760 Other noninterest expense 45,664 5,706 2,273 - 53,643 Total noninterest expense 107,268 30,972 80 - 138,320 Income (loss) before income taxes 42,565 (14,923) 46,768 (49,285) 25,125 Provision (benefit) for income taxes 10,559 (944) (567) 9,048 Net income (loss) $ 32,006 $ (13,979) $ 47,335 $ (49,285) $ 16,077 Total assets at period end $ 5,689,676 $ 96,942 $ 589,240 $ (707,962) $ 5,667,896 Total liabilities at period end $ 5,149,259 $ 39,987 $ 5,481 $ (110,590) $ 5,084,137 Goodwill at period end $ 59,042 $ - $ $ - $ 59,042 Year Ended December 31, 2022 HarborOne HarborOne Bank Mortgage Other Eliminations Consolidated (in thousands) Interest and dividend income $ 170,250 $ 1,949 $ 13,163 $ (13,432) $ 171,930 Interest expense 20,949 332 2,095 (432) 22,944 Net interest and dividend income 149,301 1,617 11,068 (13,000) 148,986 Provision for credit losses 5,660 - - - 5,660 Net interest and dividend income, after provision for credit losses 143,641 1,617 11,068 (13,000) 143,326 Mortgage banking income: Gain on sale of mortgage loans - 15,970 - - 15,970 Intersegment (loss) gain (3,604) 3,185 - 419 - Changes in mortgage servicing rights fair value 618 4,714 - - 5,332 Other 873 9,075 - - 9,948 Total mortgage banking (loss) income (2,113) 32,944 - 419 31,250 Other noninterest income 25,930 129 - - 26,059 Total noninterest income 23,817 33,073 - 419 57,309 Compensation and benefits 64,473 19,799 (999) - 83,273 Goodwill impairment - - - - - Other noninterest expense 45,934 7,266 2,433 - 55,633 Total noninterest expense 110,407 27,065 1,434 - 138,906 Income (loss) before income taxes 57,051 7,625 9,634 (12,581) 61,729 Provision (benefit) for income taxes 14,090 2,777 (727) - 16,140 Net income $ 42,961 $ 4,848 $ 10,361 $ (12,581) $ 45,589 Total assets at period end $ 5,373,911 $ 124,229 $ 656,627 $ (795,222) $ 5,359,545 Total liabilities at period end $ 4,828,521 $ 25,295 $ 39,651 $ (150,898) $ 4,742,569 Goodwill at period end $ 59,042 $ 10,760 $ - $ - $ 69,802

CONDENSED FINANCIAL STATEMENT_2

CONDENSED FINANCIAL STATEMENTS OF PARENT COMPANY (Tables)	12 Months Ended
CONDENSED FINANCIAL STATEMENTS OF PARENT COMPANY (Tables)	Dec. 31, 2024
CONDENSED FINANCIAL STATEMENTS OF PARENT COMPANY
Schedule of Condensed Balance Sheet	Balance Sheet December 31, 2024 2023 (in thousands) Assets Cash and due from banks $ 15,827 $ 34,319 Investment in common stock of HarborOne Bank 537,877 526,302 Loan receivable - ESOP 26,995 28,119 Other assets 524 500 Total assets $ 581,223 $ 589,240 Liabilities and Stockholders' Equity Other liabilities and accrued expenses 6,212 5,481 Stockholders' equity 575,011 583,759 Total liabilities and stockholders' equity $ 581,223 $ 589,240
Schedule of Condensed Statement of Net Income	Statement of Net Income Year Ended December 31, 2024 2023 2022 (in thousands) Dividends from subsidiary $ 14,000 $ 49,500 $ 13,000 Interest from bank deposits 42 82 159 Interest on short-term investments - - 4 Interest on ESOP loan 2,390 2,193 999 Other income 25 41 - Total income 16,457 51,816 14,162 Interest expense - 2,775 2,095 Operating expenses 2,404 2,273 2,432 Total expenses 2,404 5,048 4,527 Income before income taxes and equity in undistributed net income (loss) 14,053 46,768 9,635 of HarborOne Bank Income tax provision (benefit) 135 (568) (726) Income before equity in income (loss) of subsidiaries 13,918 47,336 10,361 Equity in undistributed net income (loss) of HarborOne Bank 13,489 (31,259) 35,228 Net income $ 27,407 $ 16,077 $ 45,589
Schedule of Condensed Statement of Cash Flows	Statement of Cash Flows Year Ended December 31, 2024 2023 2022 (in thousands) Cash flows from operating activities: Net income $ 27,407 $ 16,077 $ 45,589 Adjustments to reconcile net income to net cash provided by operating activities: Equity in undistributed net (income) loss of HarborOne Bank (13,489) 31,259 (35,228) Deferred income tax provision (benefit) 31 (60) 138 Share-based compensation 377 454 286 Net change in other assets (52) 42 18 Net change in other liabilities (737) 83 (97) Net cash provided by operating activities 13,537 47,855 10,706 Cash flows from investing activities: Repayment of ESOP loan 1,125 1,123 1,497 Advances to subsidiary (2,394) (2,193) (999) Repayment of advances to subsidiary 2,390 2,194 998 Net cash provided by investing activities 1,121 1,124 1,496 Cash flows from financing activities: Issuance of common stock 133 643 8,366 Repurchase of common stock (21,548) (45,206) (62,525) Proceeds from advance from subsidiary 1,373 - - Repayment of subordinated debt - (35,000) - Amortization of subordinated debt issuance costs - 715 126 Dividends paid (13,108) (12,826) (12,188) Net cash used by financing activities (33,150) (91,674) (66,221) Net change in cash and cash equivalents (18,492) (42,695) (54,019) Cash and cash equivalents at beginning of year 34,319 77,014 131,033 Cash and cash equivalents at end of year $ 15,827 $ 34,319 $ 77,014

SUMMARY OF SIGNIFICANT ACCOUN_3

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2024 USD ($) item state	Dec. 31, 2023 USD ($)
Number of passive investment subsidiaries	1
Impairment of federal home loan bank stock \| $	$ 0	$ 0
Accrued interest receivable \| $	$ 16,000	15,600
Number of reporting units	2
Number of security corporations	1
Number of full-service bank offices	30
Cumulative Effect, Period of Adoption, Adjustment \| ASU 2016-13
Debt securities \| $	$ 0	0
Accrued interest related to debt securities \| $	$ 0	$ 0
HarborOne Mortgage
Additional states licensed to lend \| state	5
HarborOne Bank
Number of security corporation subsidiaries	1

DEBT SECURITIES - Summary of se

DEBT SECURITIES - Summary of securities available for sale and held to maturity (Details) - USD ($)	Dec. 31, 2024	Dec. 31, 2023
Securities
Accrued interest receivable	$ 958,000	$ 940,000
Securities available for sale
Amortized Cost	329,112,000	352,157,000
Gross Unrealized Gains	56,000	3,000
Gross Unrealized Losses	65,264,000	62,009,000
Allowance for Credit Loss	0
Fair Value	263,904,000	290,151,000
Securities held to maturity
Amortized Cost	19,627,000	19,796,000
Gross Unrealized Losses	342,000	534,000
Fair Value	19,285,000	19,262,000
Asset Pledged as Collateral
Securities available for sale
Fair Value	260,700,000
Securities held to maturity
Amortized Cost	14,800,000
U.S. government and government-sponsored enterprise obligations
Securities available for sale
Amortized Cost	42,143,000	47,143,000
Gross Unrealized Losses	6,480,000	6,961,000
Fair Value	35,663,000	40,182,000
Securities held to maturity
Amortized Cost	15,000,000	15,000,000
Gross Unrealized Losses	228,000	438,000
Fair Value	14,772,000	14,562,000
U.S. government agency and government-sponsored residential mortgage-backed securities
Securities available for sale
Amortized Cost	283,523,000	300,277,000
Gross Unrealized Gains	43,000	3,000
Gross Unrealized Losses	58,569,000	54,683,000
Fair Value	224,997,000	245,597,000
U.S. government-sponsored collateralized mortgage obligations
Securities available for sale
Amortized Cost		1,852,000
Gross Unrealized Losses		70,000
Fair Value		1,782,000
SBA asset-backed securities
Securities available for sale
Amortized Cost	1,446,000	1,885,000
Gross Unrealized Losses	64,000	107,000
Fair Value	1,382,000	1,778,000
Securities held to maturity
Amortized Cost	4,627,000	4,796,000
Gross Unrealized Losses	114,000	96,000
Fair Value	4,513,000	4,700,000
Corporate bonds
Securities available for sale
Amortized Cost	2,000,000	1,000,000
Gross Unrealized Gains	13,000
Gross Unrealized Losses	151,000	188,000
Fair Value	$ 1,862,000	$ 812,000

DEBT SECURITIES - Contractual m

DEBT SECURITIES - Contractual maturity (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2024 USD ($) security	Dec. 31, 2023 USD ($) security
Securities
Number of holdings greater than 10% of shareholder equity \| security	0	0
Amortized Cost - Available for Sale
After 1 year through 5 years	$ 17,643
After 5 years through 10 years	26,500
Total for contractual maturity	44,143
Total	329,112	$ 352,157
Fair Value - Available for Sale
After 1 year through 5 years	15,693
After 5 years through 10 years	21,832
Total for contractual maturity	37,525
Total	263,904	290,151
Amortized Cost - Held to Maturity
Amortized Cost	19,627	19,796
After 1 year through 5 years	15,000
Total for contractual maturity	15,000
Total	19,627
Fair Value - Held to Maturity
After 1 year through 5 years	14,772
Total for contractual maturity	14,772
Total	19,285	19,262
Sales
Proceeds	16,584
Gross losses	$ 1,041
Minimum
Securities
Maturity period	2 years
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	$ 283,523
Total	283,523	300,277
Fair Value - Available for Sale
No single maturity date	224,997
Total	224,997	245,597
SBA asset-backed securities
Amortized Cost - Available for Sale
No single maturity date	1,446
Total	1,446	1,885
Fair Value - Available for Sale
No single maturity date	1,382
Total	1,382	1,778
Amortized Cost - Held to Maturity
Amortized Cost	4,627	4,796
No single maturity date	4,627
Fair Value - Held to Maturity
No single maturity date	4,513
Total	4,513	4,700
U.S. government and government-sponsored enterprise obligations and corporate bonds
Fair Value - Available for Sale
Total	52,300
U.S. government-sponsored collateralized mortgage obligations
Amortized Cost - Available for Sale
Total		1,852
Fair Value - Available for Sale
Total		1,782
U.S. government and government-sponsored enterprise obligations
Amortized Cost - Available for Sale
Total	42,143	47,143
Fair Value - Available for Sale
Total	35,663	40,182
Amortized Cost - Held to Maturity
Amortized Cost	15,000	15,000
Fair Value - Held to Maturity
Total	$ 14,772	$ 14,562
U.S. government and government-sponsored enterprise obligations \| Minimum
Securities
Maturity period	2 years
Callable period	1 month
U.S. government and government-sponsored enterprise obligations \| Maximum
Securities
Maturity period	7 years
Callable period	2 years

DEBT SECURITIES - Gross unreali

DEBT SECURITIES - Gross unrealized losses aggregated by category (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2024 USD ($) security	Dec. 31, 2023 USD ($)
Marketable Securities [Line Items]
Securities available for sale, gross unrealized losses, less than twelve months	$ 31
Securities available for sale, gross unrealized losses, twelve months and over	65,233	$ 62,009
Securities available for sale, fair value, less than twelve months	9,346
Securities available for sale, fair value, twelve months and over	244,202	285,509
Securities held to maturity, gross unrealized losses, less than twelve months	114	96
Securities held to maturity, gross unrealized losses, twelve months and over	228	438
Securities held to maturity, fair value, less than twelve months	4,512	4,700
Securities held to maturity, fair value, twelve months and over	$ 14,772	14,562
Number of debt securities \| security	112
Number of debt securities in unrealized loss position \| security	105
Allowance for credit loss	$ 0
U.S. government and government-sponsored enterprise obligations
Marketable Securities [Line Items]
Securities available for sale, gross unrealized losses, twelve months and over	6,480	6,961
Securities available for sale, fair value, twelve months and over	35,663	40,182
Securities held to maturity, gross unrealized losses, twelve months and over	228	438
Securities held to maturity, fair value, twelve months and over	14,772	14,562
U.S. government agency and government-sponsored residential mortgage-backed securities
Marketable Securities [Line Items]
Securities available for sale, gross unrealized losses, less than twelve months	31
Securities available for sale, gross unrealized losses, twelve months and over	58,538	54,683
Securities available for sale, fair value, less than twelve months	9,346
Securities available for sale, fair value, twelve months and over	206,308	240,955
U.S. government-sponsored collateralized mortgage obligations
Marketable Securities [Line Items]
Securities available for sale, gross unrealized losses, twelve months and over		70
Securities available for sale, fair value, twelve months and over		1,782
SBA asset-backed securities
Marketable Securities [Line Items]
Securities available for sale, gross unrealized losses, twelve months and over	64	107
Securities available for sale, fair value, twelve months and over	1,382	1,778
Securities held to maturity, gross unrealized losses, less than twelve months	114	96
Securities held to maturity, fair value, less than twelve months	4,512	4,700
Corporate bonds
Marketable Securities [Line Items]
Securities available for sale, gross unrealized losses, twelve months and over	151	188
Securities available for sale, fair value, twelve months and over	$ 849	$ 812

LOANS HELD FOR SALE (Details)

LOANS HELD FOR SALE (Details) - USD ($)	12 Months Ended
LOANS HELD FOR SALE (Details) - USD ($)	Dec. 31, 2024	Dec. 31, 2023
Fair value and contractual principal outstanding:
Loans held for sale, fair value	$ 36,768,000	$ 19,686,000
Loans held for sale, contractual principal outstanding	36,205,000	19,155,000
Fair value less unpaid principal balance	563,000	531,000
Change in fair value of mortgage loans held for sale	32,000	195,000
90 Days or More
Fair value and contractual principal outstanding:
Loans held for sale, fair value	$ 0	$ 0

LOANS AND ALLOWANCE FOR CREDI_3

LOANS AND ALLOWANCE FOR CREDIT LOSSES - Summary of Balances of Loans (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Loans
Total loans before basis adjustment	$ 4,852,419	$ 4,749,418
Basis adjustment associated with fair value hedge	80	893
Total loans	4,852,499	4,750,311
Allowance for credit losses on loans	(56,101)	(47,972)	$ (45,236)	$ (45,377)
Net loans	4,796,398	4,702,339
Net deferred loan costs	8,800	8,500
Commercial
Loans
Total loans	3,127,453	3,018,561
Commercial \| Commercial real estate
Loans
Total loans before basis adjustment	2,280,309	2,343,675
Total loans	2,280,309	2,343,675
Allowance for credit losses on loans	(30,764)	(21,288)	(20,357)	(33,242)
Commercial \| Commercial construction
Loans
Total loans before basis adjustment	252,691	208,443
Total loans	252,691	208,443
Allowance for credit losses on loans	(4,257)	(4,824)	(4,645)	(2,010)
Commercial \| Commercial and industrial
Loans
Total loans before basis adjustment	594,453	466,443
Total loans	594,453	466,443
Allowance for credit losses on loans	(10,700)	(8,107)	(7,236)	(4,638)
Residential
Loans
Total loans before basis adjustment	1,707,476	1,708,821
Total loans	1,707,476	1,708,821
Residential \| One- to four-family
Loans
Total loans	1,506,571	1,513,554
Allowance for credit losses on loans	(8,720)	(12,101)	(11,532)	(3,631)
Residential \| Second mortgages and equity lines of credit
Loans
Total loans	189,598	177,135
Allowance for credit losses on loans	(1,348)	(964)	(924)	(420)
Residential \| Residential real estate construction
Loans
Total loans	11,307	18,132
Allowance for credit losses on loans	(186)	(418)	(280)	(69)
Consumer loans
Loans
Total loans before basis adjustment	17,490	22,036
Total loans	17,490	22,036
Allowance for credit losses on loans	(126)	(270)	$ (262)	$ (367)
Consumer loans \| Auto
Loans
Total loans	8,550	13,603
Consumer loans \| Personal
Loans
Total loans	$ 8,940	$ 8,433

LOANS AND ALLOWANCE FOR CREDI_4

LOANS AND ALLOWANCE FOR CREDIT LOSSES - Loans Sold or Transferred (Details) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
Commercial real estate
Loans
Unpaid principal balance of loans serviced for others	$ 431.4	$ 413

LOANS AND ALLOWANCE FOR CREDI_5

LOANS AND ALLOWANCE FOR CREDIT LOSSES - Allowance for Loan Losses Activity (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Activity in the allowance for loan losses and allocation of the allowance to loan segments
Balance	$ 47,972	$ 45,236	$ 45,377
Charge-offs	(782)	(4,426)	(5,293)
Recoveries	222	473	1,799
Provision	8,689	6,689	4,664
Balance	56,101	47,972	45,236
ASU 2016-13 \| Cumulative Effect, Period of Adoption, Adjustment
Activity in the allowance for loan losses and allocation of the allowance to loan segments
Balance			(1,311)
Residential \| One-to-Four-Family
Activity in the allowance for loan losses and allocation of the allowance to loan segments
Balance	12,101	11,532	3,631
Recoveries	2	1	2
Provision	(3,383)	568	2,701
Balance	8,720	12,101	11,532
Residential \| One-to-Four-Family \| ASU 2016-13 \| Cumulative Effect, Period of Adoption, Adjustment
Activity in the allowance for loan losses and allocation of the allowance to loan segments
Balance			5,198
Residential \| Second Mortgages and Equity Lines of Credit
Activity in the allowance for loan losses and allocation of the allowance to loan segments
Balance	964	924	420
Recoveries	7	88	117
Provision	377	(48)	(4)
Balance	1,348	964	924
Residential \| Second Mortgages and Equity Lines of Credit \| ASU 2016-13 \| Cumulative Effect, Period of Adoption, Adjustment
Activity in the allowance for loan losses and allocation of the allowance to loan segments
Balance			391
Residential \| Residential Real Estate Construction
Activity in the allowance for loan losses and allocation of the allowance to loan segments
Balance	418	280	69
Provision	(232)	138	26
Balance	186	418	280
Residential \| Residential Real Estate Construction \| ASU 2016-13 \| Cumulative Effect, Period of Adoption, Adjustment
Activity in the allowance for loan losses and allocation of the allowance to loan segments
Balance			185
Commercial \| Commercial Real Estate
Activity in the allowance for loan losses and allocation of the allowance to loan segments
Balance	21,288	20,357	33,242
Charge-offs		(4,171)	(4,964)
Recoveries	103	4	38
Provision	9,373	5,098	2,235
Balance	30,764	21,288	20,357
Commercial \| Commercial Real Estate \| ASU 2016-13 \| Cumulative Effect, Period of Adoption, Adjustment
Activity in the allowance for loan losses and allocation of the allowance to loan segments
Balance			(10,194)
Commercial \| Commercial Construction
Activity in the allowance for loan losses and allocation of the allowance to loan segments
Balance	4,824	4,645	2,010
Recoveries	40
Provision	(607)	179	937
Balance	4,257	4,824	4,645
Commercial \| Commercial Construction \| ASU 2016-13 \| Cumulative Effect, Period of Adoption, Adjustment
Activity in the allowance for loan losses and allocation of the allowance to loan segments
Balance			1,698
Commercial \| Commercial and Industrial
Activity in the allowance for loan losses and allocation of the allowance to loan segments
Balance	8,107	7,236	4,638
Charge-offs	(628)	(166)	(253)
Recoveries	59	309	1,563
Provision	3,162	728	(1,000)
Balance	10,700	8,107	7,236
Commercial \| Commercial and Industrial \| ASU 2016-13 \| Cumulative Effect, Period of Adoption, Adjustment
Activity in the allowance for loan losses and allocation of the allowance to loan segments
Balance			2,288
Consumer
Activity in the allowance for loan losses and allocation of the allowance to loan segments
Balance	270	262	367
Charge-offs	(154)	(89)	(76)
Recoveries	11	71	79
Provision	(1)	26	(231)
Balance	$ 126	$ 270	262
Consumer \| ASU 2016-13 \| Cumulative Effect, Period of Adoption, Adjustment
Activity in the allowance for loan losses and allocation of the allowance to loan segments
Balance			123
Unallocated
Activity in the allowance for loan losses and allocation of the allowance to loan segments
Balance			1,000
Unallocated \| ASU 2016-13 \| Cumulative Effect, Period of Adoption, Adjustment
Activity in the allowance for loan losses and allocation of the allowance to loan segments
Balance			$ (1,000)

LOANS AND ALLOWANCE FOR CREDI_6

LOANS AND ALLOWANCE FOR CREDIT LOSSES - Carrying value (Details) - USD ($)	Dec. 31, 2024	Dec. 31, 2023
Financing Receivable, Allowance for Credit Losses [Line Items]
Carrying value	$ 87,200,000	$ 17,500,000
Related Allowance	7,800,000	108,000
Collateral Dependent
Financing Receivable, Allowance for Credit Losses [Line Items]
Carrying value	67,239,000	17,263,000
Related Allowance	5,986,000	106,000
Commercial \| Collateral Dependent
Financing Receivable, Allowance for Credit Losses [Line Items]
Carrying value	56,918,000	9,209,000
Related Allowance	5,986,000	106,000
Commercial \| Commercial real estate \| Collateral Dependent
Financing Receivable, Allowance for Credit Losses [Line Items]
Carrying value	44,983,000	7,416,000
Related Allowance	5,426,000	5,000
Commercial \| Commercial and industrial \| Collateral Dependent
Financing Receivable, Allowance for Credit Losses [Line Items]
Carrying value	11,935,000	1,793,000
Related Allowance	560,000	101,000
Residential real estate \| Collateral Dependent
Financing Receivable, Allowance for Credit Losses [Line Items]
Carrying value	$ 10,321,000	$ 8,054,000

LOANS AND ALLOWANCE FOR CREDI_7

LOANS AND ALLOWANCE FOR CREDIT LOSSES - Summary of Past Due and Non-Accrual Loans (Details) - USD ($)	Dec. 31, 2024	Dec. 31, 2023
Summary of past due and non-accrual loans
Total loans	$ 4,852,499,000	$ 4,750,311,000
Loans on Non-accrual	29,463,000	17,513,000
Loans past due 90 days or more and still accruing	0	0
Foreclosed assets	0	0
Repossessed assets - automobiles	10,000	69,000
Total Past Due
Summary of past due and non-accrual loans
Total loans	37,427,000	19,603,000
30 to 59 Days
Summary of past due and non-accrual loans
Total loans	21,225,000	5,227,000
60 to 89 Days
Summary of past due and non-accrual loans
Total loans	8,076,000	2,783,000
90 Days or More
Summary of past due and non-accrual loans
Total loans	8,126,000	11,593,000
Residential
Summary of past due and non-accrual loans
Total loans	1,707,476,000	1,708,821,000
Mortgage loans in the process of foreclosure	4,000,000	2,100,000
Residential \| One- to four-family
Summary of past due and non-accrual loans
Total loans	1,506,571,000	1,513,554,000
Loans on Non-accrual	9,545,000	7,785,000
Residential \| One- to four-family \| Total Past Due
Summary of past due and non-accrual loans
Total loans	22,273,000	11,535,000
Residential \| One- to four-family \| 30 to 59 Days
Summary of past due and non-accrual loans
Total loans	8,589,000	4,704,000
Residential \| One- to four-family \| 60 to 89 Days
Summary of past due and non-accrual loans
Total loans	7,014,000	2,413,000
Residential \| One- to four-family \| 90 Days or More
Summary of past due and non-accrual loans
Total loans	6,670,000	4,418,000
Residential \| Second mortgages and equity lines of credit
Summary of past due and non-accrual loans
Total loans	189,598,000	177,135,000
Loans on Non-accrual	864,000	473,000
Residential \| Second mortgages and equity lines of credit \| Total Past Due
Summary of past due and non-accrual loans
Total loans	961,000	351,000
Residential \| Second mortgages and equity lines of credit \| 30 to 59 Days
Summary of past due and non-accrual loans
Total loans	466,000	164,000
Residential \| Second mortgages and equity lines of credit \| 60 to 89 Days
Summary of past due and non-accrual loans
Total loans	312,000	130,000
Residential \| Second mortgages and equity lines of credit \| 90 Days or More
Summary of past due and non-accrual loans
Total loans	183,000	57,000
Commercial
Summary of past due and non-accrual loans
Total loans	3,127,453,000	3,018,561,000
Commercial \| Commercial real estate
Summary of past due and non-accrual loans
Total loans	2,280,309,000	2,343,675,000
Loans on Non-accrual	16,836,000	7,416,000
Commercial \| Commercial real estate \| Total Past Due
Summary of past due and non-accrual loans
Total loans	3,843,000	5,751,000
Commercial \| Commercial real estate \| 30 to 59 Days
Summary of past due and non-accrual loans
Total loans	3,803,000
Commercial \| Commercial real estate \| 60 to 89 Days
Summary of past due and non-accrual loans
Total loans	40,000
Commercial \| Commercial real estate \| 90 Days or More
Summary of past due and non-accrual loans
Total loans		5,751,000
Commercial \| Commercial construction
Summary of past due and non-accrual loans
Total loans	252,691,000	208,443,000
Commercial \| Commercial and industrial
Summary of past due and non-accrual loans
Total loans	594,453,000	466,443,000
Loans on Non-accrual	2,204,000	1,791,000
Commercial \| Commercial and industrial \| Total Past Due
Summary of past due and non-accrual loans
Total loans	10,226,000	1,745,000
Commercial \| Commercial and industrial \| 30 to 59 Days
Summary of past due and non-accrual loans
Total loans	8,273,000	247,000
Commercial \| Commercial and industrial \| 60 to 89 Days
Summary of past due and non-accrual loans
Total loans	684,000	166,000
Commercial \| Commercial and industrial \| 90 Days or More
Summary of past due and non-accrual loans
Total loans	1,269,000	1,332,000
Consumer loans
Summary of past due and non-accrual loans
Total loans	17,490,000	22,036,000
Consumer loans \| Auto
Summary of past due and non-accrual loans
Total loans	8,550,000	13,603,000
Loans on Non-accrual		4,000
Consumer loans \| Auto \| Total Past Due
Summary of past due and non-accrual loans
Total loans	62,000	169,000
Consumer loans \| Auto \| 30 to 59 Days
Summary of past due and non-accrual loans
Total loans	52,000	96,000
Consumer loans \| Auto \| 60 to 89 Days
Summary of past due and non-accrual loans
Total loans	10,000	69,000
Consumer loans \| Auto \| 90 Days or More
Summary of past due and non-accrual loans
Total loans		4,000
Consumer loans \| Personal
Summary of past due and non-accrual loans
Total loans	8,940,000	8,433,000
Loans on Non-accrual	14,000	44,000
Consumer loans \| Personal \| Total Past Due
Summary of past due and non-accrual loans
Total loans	62,000	52,000
Consumer loans \| Personal \| 30 to 59 Days
Summary of past due and non-accrual loans
Total loans	42,000	16,000
Consumer loans \| Personal \| 60 to 89 Days
Summary of past due and non-accrual loans
Total loans	16,000	5,000
Consumer loans \| Personal \| 90 Days or More
Summary of past due and non-accrual loans
Total loans	$ 4,000	$ 31,000

LOANS AND ALLOWANCE FOR CREDI_8

LOANS AND ALLOWANCE FOR CREDIT LOSSES - Loan Modifications to Borrowers Experiencing Financial Difficulty (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2024 USD ($) item	Dec. 31, 2023 item
Troubled debt restructurings
Borrowers experiencing financial difficulty \| item		0
Number of loans to borrowers experiencing financial difficulty that had a payment default and were modified \| item	0
Term Extension
Troubled debt restructurings
Total	$ 52
Interest Rate Reduction
Troubled debt restructurings
Total	15,277
Combination Term Extension Interest Rate Reduction
Troubled debt restructurings
Total	$ 106
Commercial real estate
Troubled debt restructurings
Total Class of Financing Receivable	0.67%
Weighted-average contractual rate before modification	5.60%
Weighted-average contractual rate after modification	4%
Commercial real estate \| Interest Rate Reduction
Troubled debt restructurings
Total	$ 15,277
Commercial and industrial
Troubled debt restructurings
Term extension	7 years 8 months 12 days
Total Class of Financing Receivable	0.01%
Commercial and industrial \| Term Extension
Troubled debt restructurings
Total	$ 52
Residential real estate
Troubled debt restructurings
Term extension	31 years
Total Class of Financing Receivable	0.01%
Weighted-average contractual rate before modification	5.25%
Weighted-average contractual rate after modification	3.50%
Residential real estate \| Combination Term Extension Interest Rate Reduction
Troubled debt restructurings
Total	$ 106

LOANS AND ALLOWANCE FOR CREDI_9

LOANS AND ALLOWANCE FOR CREDIT LOSSES - Risk Rating (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2024 USD ($) grade	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)
Loans by risk rating
Number of grades utilized in internal loan rating system \| grade	10
Year one, originated current fiscal year	$ 287,243	$ 407,241
Year two, originated fiscal year before current fiscal year	430,336	1,443,688
Year three, originated two years before current fiscal year	1,421,224	1,092,960
Year four, originated three years before current fiscal year	1,055,027	513,582
Year five, originated four years before current fiscal year	458,789	308,448
Prior	906,334	739,967
Revolving Loans Amortized Cost	291,058	242,063
Revolving Loans Converted to Term Loans	2,408	1,469
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss	4,852,499	4,750,311
Total loans before basis adjustment	4,852,419	4,749,418
YTD gross charge-offs, originated current fiscal year	69	31
YTD gross charge-offs, originated fiscal year before current fiscal year	89	129
YTD gross charge-offs, originated two years before current fiscal year	338	18
YTD gross charge-offs, originated three years before current fiscal year	147	20
YTD gross charge-offs, originated four years before current fiscal year	84	26
YTD gross charge-offs, prior	55	4,202
YTD gross charge-offs	782	4,426	$ 5,293
Commercial
Loans by risk rating
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss	3,127,453	3,018,561
Commercial \| Commercial real estate
Loans by risk rating
Year one, originated current fiscal year	82,833	152,047
Year two, originated fiscal year before current fiscal year	175,871	839,306
Year three, originated two years before current fiscal year	826,978	455,996
Year four, originated three years before current fiscal year	441,021	238,885
Year five, originated four years before current fiscal year	202,620	242,690
Prior	550,986	414,751
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss	2,280,309	2,343,675
Total loans before basis adjustment	2,280,309	2,343,675
YTD gross charge-offs, prior		4,171
YTD gross charge-offs		4,171	4,964
Commercial \| Commercial real estate \| Pass
Loans by risk rating
Year one, originated current fiscal year	82,833	152,047
Year two, originated fiscal year before current fiscal year	162,401	828,335
Year three, originated two years before current fiscal year	743,173	455,996
Year four, originated three years before current fiscal year	433,482	234,585
Year five, originated four years before current fiscal year	190,543	233,713
Prior	525,120	405,103
Total loans before basis adjustment	2,137,552	2,309,779
Commercial \| Commercial real estate \| Special mention
Loans by risk rating
Year two, originated fiscal year before current fiscal year	6,872	10,971
Year three, originated two years before current fiscal year	39,614
Year four, originated three years before current fiscal year	7,539	4,300
Year five, originated four years before current fiscal year	12,077	8,977
Prior	12,149	2,232
Total loans before basis adjustment	78,251	26,480
Commercial \| Commercial real estate \| Substandard
Loans by risk rating
Year two, originated fiscal year before current fiscal year	6,598
Year three, originated two years before current fiscal year	44,191
Prior	13,717	1,670
Total loans before basis adjustment	64,506	1,670
Commercial \| Commercial real estate \| Doubtful
Loans by risk rating
Prior		5,746
Total loans before basis adjustment		5,746
Commercial \| Commercial and industrial
Loans by risk rating
Year one, originated current fiscal year	80,931	73,240
Year two, originated fiscal year before current fiscal year	78,945	52,696
Year three, originated two years before current fiscal year	77,213	94,582
Year four, originated three years before current fiscal year	86,482	70,588
Year five, originated four years before current fiscal year	63,043	22,990
Prior	99,850	78,105
Revolving Loans Amortized Cost	107,989	74,242
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss	594,453	466,443
Total loans before basis adjustment	594,453	466,443
YTD gross charge-offs, originated current fiscal year	69	24
YTD gross charge-offs, originated fiscal year before current fiscal year	26	113
YTD gross charge-offs, originated two years before current fiscal year	303	14
YTD gross charge-offs, originated three years before current fiscal year	122	5
YTD gross charge-offs, originated four years before current fiscal year	74	8
YTD gross charge-offs, prior	34	2
YTD gross charge-offs	628	166	253
Commercial \| Commercial and industrial \| Pass
Loans by risk rating
Year one, originated current fiscal year	80,926	73,240
Year two, originated fiscal year before current fiscal year	78,767	52,190
Year three, originated two years before current fiscal year	72,636	94,570
Year four, originated three years before current fiscal year	82,638	70,565
Year five, originated four years before current fiscal year	63,043	22,988
Prior	93,493	75,493
Revolving Loans Amortized Cost	104,897	74,125
Total loans before basis adjustment	576,400	463,171
Commercial \| Commercial and industrial \| Special mention
Loans by risk rating
Year one, originated current fiscal year	5
Year two, originated fiscal year before current fiscal year		454
Year three, originated two years before current fiscal year	1,703	4
Year four, originated three years before current fiscal year		23
Year five, originated four years before current fiscal year		2
Prior	1,279	948
Revolving Loans Amortized Cost	2,783	50
Total loans before basis adjustment	5,770	1,481
Commercial \| Commercial and industrial \| Substandard
Loans by risk rating
Year two, originated fiscal year before current fiscal year	178	52
Year three, originated two years before current fiscal year	2,874	8
Year four, originated three years before current fiscal year	3,844
Prior	3,841	367
Revolving Loans Amortized Cost	260	18
Total loans before basis adjustment	10,997	445
Commercial \| Commercial and industrial \| Doubtful
Loans by risk rating
Prior	1,237	1,297
Revolving Loans Amortized Cost	49	49
Total loans before basis adjustment	1,286	1,346
Commercial \| Commercial construction
Loans by risk rating
Year one, originated current fiscal year	31,074	35,181
Year two, originated fiscal year before current fiscal year	45,739	111,881
Year three, originated two years before current fiscal year	100,249	60,113
Year four, originated three years before current fiscal year	73,657	843
Revolving Loans Amortized Cost	1,972	425
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss	252,691	208,443
Total loans before basis adjustment	252,691	208,443
Commercial \| Commercial construction \| Pass
Loans by risk rating
Year one, originated current fiscal year	31,074	35,181
Year two, originated fiscal year before current fiscal year	45,739	109,291
Year three, originated two years before current fiscal year	82,447	60,113
Year four, originated three years before current fiscal year	73,657	843
Revolving Loans Amortized Cost	1,972	425
Total loans before basis adjustment	234,889	205,853
Commercial \| Commercial construction \| Special mention
Loans by risk rating
Year two, originated fiscal year before current fiscal year		2,590
Year three, originated two years before current fiscal year	17,802
Total loans before basis adjustment	17,802	2,590
Residential
Loans by risk rating
Year one, originated current fiscal year	85,268	138,541
Year two, originated fiscal year before current fiscal year	125,741	434,421
Year three, originated two years before current fiscal year	413,587	480,010
Year four, originated three years before current fiscal year	452,754	202,245
Year five, originated four years before current fiscal year	192,847	39,631
Prior	254,778	246,144
Revolving Loans Amortized Cost	180,093	166,360
Revolving Loans Converted to Term Loans	2,408	1,469
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss	1,707,476	1,708,821
Total loans before basis adjustment	1,707,476	1,708,821
Residential \| Accrual
Loans by risk rating
Year one, originated current fiscal year	85,268	138,541
Year two, originated fiscal year before current fiscal year	125,741	434,421
Year three, originated two years before current fiscal year	413,118	480,010
Year four, originated three years before current fiscal year	452,081	202,118
Year five, originated four years before current fiscal year	192,734	38,675
Prior	246,206	239,185
Revolving Loans Amortized Cost	179,516	166,144
Revolving Loans Converted to Term Loans	2,403	1,469
Total loans before basis adjustment	1,697,067	1,700,563
Residential \| Non-accrual
Loans by risk rating
Year three, originated two years before current fiscal year	469
Year four, originated three years before current fiscal year	673	127
Year five, originated four years before current fiscal year	113	956
Prior	8,572	6,959
Revolving Loans Amortized Cost	577	216
Revolving Loans Converted to Term Loans	5
Total loans before basis adjustment	10,409	8,258
Consumer loans
Loans by risk rating
Year one, originated current fiscal year	7,137	8,232
Year two, originated fiscal year before current fiscal year	4,040	5,384
Year three, originated two years before current fiscal year	3,197	2,259
Year four, originated three years before current fiscal year	1,113	1,021
Year five, originated four years before current fiscal year	279	3,137
Prior	720	967
Revolving Loans Amortized Cost	1,004	1,036
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss	17,490	22,036
Total loans before basis adjustment	17,490	22,036
YTD gross charge-offs, originated current fiscal year		7
YTD gross charge-offs, originated fiscal year before current fiscal year	63	16
YTD gross charge-offs, originated two years before current fiscal year	35	4
YTD gross charge-offs, originated three years before current fiscal year	25	15
YTD gross charge-offs, originated four years before current fiscal year	10	18
YTD gross charge-offs, prior	21	29
YTD gross charge-offs	154	89	$ 76
Consumer loans \| Accrual
Loans by risk rating
Year one, originated current fiscal year	7,134	8,218
Year two, originated fiscal year before current fiscal year	4,040	5,366
Year three, originated two years before current fiscal year	3,186	2,254
Year four, originated three years before current fiscal year	1,113	1,021
Year five, originated four years before current fiscal year	279	3,135
Prior	720	963
Revolving Loans Amortized Cost	1,004	1,031
Total loans before basis adjustment	17,476	21,988
Consumer loans \| Non-accrual
Loans by risk rating
Year one, originated current fiscal year	3	14
Year two, originated fiscal year before current fiscal year		18
Year three, originated two years before current fiscal year	11	5
Year five, originated four years before current fiscal year		2
Prior		4
Revolving Loans Amortized Cost		5
Total loans before basis adjustment	$ 14	$ 48

MORTGAGE LOAN SERVICING - Key A

MORTGAGE LOAN SERVICING - Key Assumptions (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
MORTGAGE LOAN SERVICING
Unpaid principal balances of mortgage loans serviced	$ 3,360	$ 3,560
Prepayment speed	7.67%	7.60%
Discount rate	9.97%	9.81%
Default rate	1.83%	2.27%

MORTGAGE LOAN SERVICING - Fair

MORTGAGE LOAN SERVICING - Fair value of MSR (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Changes to the fair value of Mortgage Servicing Rights
Balance, beginning of period	$ 46,111	$ 48,138	$ 38,268
Additions	1,107	2,657	4,538
Changes in fair value due to:
Reductions from loans paid off during the period	(2,176)	(1,981)	(2,921)
Changes in valuation inputs or assumptions	(542)	(2,703)	8,253
Balance, end of period	44,500	46,111	48,138
Fees and commissions, mortgage banking and servicing	$ 7,800	$ 7,800	$ 8,100
Contractually Specified Servicing Fee Income, Statement of Income or Comprehensive Income [Extensible Enumeration]	Other	Other	Other

PROPERTY AND EQUIPMENT (Details

PROPERTY AND EQUIPMENT (Details)	12 Months Ended
PROPERTY AND EQUIPMENT (Details)	Dec. 31, 2024 USD ($) property	Dec. 31, 2023 USD ($) property	Dec. 31, 2022 USD ($)
PROPERTY AND EQUIPMENT
Property and equipment, gross	$ 80,083,000	$ 80,578,000
Less accumulated depreciation and amortization	(33,830,000)	(31,829,000)
Property and equipment, net	46,253,000	48,749,000
Depreciation and amortization expense	$ 3,734,000	$ 3,843,000	$ 3,924,000
Number of properties transferred \| property		2
Net book value asset transfer to asset held for sale		$ 966,000
Number of transfer properties sold \| property	1	1
Gain recognized on transfer of asset held for sale	$ 1,800,000	$ 305,000
Land
PROPERTY AND EQUIPMENT
Property and equipment, gross	12,053,000	12,053,000
Buildings and leasehold improvements
PROPERTY AND EQUIPMENT
Property and equipment, gross	49,615,000	49,355,000
Furniture, equipment and vehicles
PROPERTY AND EQUIPMENT
Property and equipment, gross	18,401,000	18,762,000
Fixed assets in process
PROPERTY AND EQUIPMENT
Property and equipment, gross	$ 14,000	$ 408,000

GOODWILL AND OTHER INTANGIBLE_3

GOODWILL AND OTHER INTANGIBLE ASSETS (Details) - USD ($)	12 Months Ended
GOODWILL AND OTHER INTANGIBLE ASSETS (Details) - USD ($)	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
GOODWILL AND INTANGIBLE ASSETS
Goodwill	$ 59,042,000	$ 59,042,000	$ 69,802,000
Goodwill impairment	$ 0	10,760,000
HarborOne Mortgage
GOODWILL AND INTANGIBLE ASSETS
Goodwill impairment		$ 10,800,000
Percentage of goodwill balance		100%

GOODWILL AND OTHER INTANGIBLE_4

GOODWILL AND OTHER INTANGIBLE ASSETS - Intangible Assets (Details) - USD ($)	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Accumulated amortization:
Amortization	$ (758,000)	$ (757,000)	$ (892,000)
Core deposit intangibles
Gross amount:
Gross amount, beginning of period	8,952,000	8,952,000
Gross amount, end of period	8,952,000	8,952,000	8,952,000
Accumulated amortization:
Accumulated amortization, beginning of period	(7,437,000)	(6,680,000)
Amortization	(758,000)	(757,000)
Accumulated amortization, end of period	(8,195,000)	(7,437,000)	$ (6,680,000)
Net CDI, end of period	757,000	$ 1,515,000
Estimated future amortization expense
2025	$ 757,000
Weighted average original amortization period	7 years 3 months 18 days

DEPOSITS - Summary of deposits

DEPOSITS - Summary of deposits (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
DEPOSITS
NOW and demand deposit accounts	$ 988,984	$ 965,798
Regular savings and club accounts	895,232	1,265,315
Money market deposit accounts	1,195,209	966,201
Total non-certificate accounts	3,079,425	3,197,314
Term certificate accounts greater than $250,000	303,334	240,702
Term certificate accounts less than or equal to $250,000	766,510	622,755
Brokered deposits	401,484	326,638
Total certificate accounts	1,471,328	1,190,095
Total deposits	4,550,753	4,387,409
Total municipal deposits	519,500	471,800
Total reciprocal deposits	$ 376,300	$ 209,400

DEPOSITS - Maturity of deposits

DEPOSITS - Maturity of deposits (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Summary of certificate accounts by maturity
Within 1 year	$ 1,284,802
Over 1 year to 2 years	155,744
Over 2 years to 3 years	27,401
Over 3 years to 4 years	1,893
Over 4 years to 5 years	1,488
Total certificate accounts	$ 1,471,328	$ 1,190,095
Summary of certificate accounts by maturity
Within 1 year	4.63%
Over 1 year to 2 years	4.27%
Over 2 years to 3 years	4.15%
Over 3 years to 4 years	3.44%
Over 4 years to 5 years	3.48%
Total certificate deposits	4.58%

BORROWINGS - FHLB Advances (Det

BORROWINGS - FHLB Advances (Details) $ in Thousands	12 Months Ended
BORROWINGS - FHLB Advances (Details) $ in Thousands	Dec. 31, 2024 USD ($) item	Dec. 31, 2023 USD ($)
BORROWINGS
FHLB short-term borrowings	$ 212,000	$ 303,000
Weighted average rate	4.50%	5.53%
Number of callable advances \| item	9
Scheduled Maturity
2024		$ 13,400
2025	$ 60,987	90,987
2026	75,000	110,000
2027	85,000	10,000
2028	59,198	40,000
2029	23,128
2030 and thereafter	1,242	1,075
Total	304,555	265,462
Call Date
2024		163,400
2025	230,987	60,987
2026	40,000	40,000
2028	19,198
2029	13,128
2030 and thereafter	1,242	1,075
Total	$ 304,555	$ 265,462
Weighted Average Rate
2024		1.39%
2025	4.32%	4.31%
2026	4.39%	4.20%
2027	4.17%	3.72%
2028	4.04%	3.86%
2029	4.06%
2030 and thereafter	1.68%	2%
Total	4.21%	4.02%

BORROWINGS - Others (Details)

BORROWINGS - Others (Details) - USD ($)	12 Months Ended
BORROWINGS - Others (Details) - USD ($)	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022	Dec. 01, 2023
Borrowed funds
Carrying value of the loans pledged as collateral	$ 4,796,398,000	$ 4,702,339,000
Outstanding letters of credit	240,600,000
Amount outstanding	0
Current interest rate				5.625%
Amortization of issuance costs	0	715,000	$ 126,000
FRB
Borrowed funds
Maximum borrowing capacity	630,100,000
Other Loans
Borrowed funds
Maximum borrowing capacity	25,000,000
Securities \| FRB
Borrowed funds
Securities pledged as collateral	266,000,000
Asset Pledged as Collateral \| Federal Home Loan Bank Advances
Borrowed funds
Carrying value of the loans pledged as collateral	2,160,000,000	$ 2,020,000,000
Available borrowing capacity	656,200,000
Asset Pledged as Collateral \| Federal Home Loan Bank Advances \| FRB
Borrowed funds
Carrying value of the loans pledged as collateral	$ 364,100,000

INCOME TAXES (Details)

INCOME TAXES (Details) - USD ($)	12 Months Ended
INCOME TAXES (Details) - USD ($)	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Current tax provision:
Federal	$ 8,455,000	$ 7,264,000	$ 8,962,000
State	3,448,000	3,562,000	4,016,000
Total current tax provision	11,903,000	10,826,000	12,978,000
Deferred tax provision(benefit):
Federal	(3,583,000)	(1,255,000)	2,000,000
State	(1,470,000)	(523,000)	1,162,000
Total deferred tax provision (benefit)	(5,053,000)	(1,778,000)	3,162,000
Income tax provision	6,850,000	$ 9,048,000	$ 16,140,000
Tax benefit	$ 508,000

INCOME TAXES - Differences Betw

INCOME TAXES - Differences Between Federal Income Tax and Actual Income Tax (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
INCOME TAXES
Statutory tax rate (as a percent)	21%	21%	21%
Differences between the statutory federal income tax and the actual income tax provision
Statutory tax provision	$ 7,194	$ 5,276	$ 12,963
Increase (decrease) resulting from:
State taxes, net of federal tax benefit	1,564	2,401	4,092
Bank-owned life insurance	(640)	(236)	(416)
Employee stock ownership plan expenses	173	139	303
Tax-exempt income	(756)	(503)	(932)
Goodwill impairment		2,260
Net addition (reduction) in uncertain federal tax positions	(541)	6	(115)
Amended return benefit	(508)
Other, net	364	(295)	245
Income tax provision	$ 6,850	$ 9,048	$ 16,140

INCOME TAXES - Deferred taxes (

INCOME TAXES - Deferred taxes (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Deferred tax assets:
Allowance for credit losses	$ 16,743	$ 14,851
Employee benefit plans	6,280	6,479
Mark-to-market loans	733	899
Accrued expenses not deducted for tax purposes	754	832
HarborOne Mortgage loan repurchase reserve	835	852
Net unrealized loss on securities available for sale	14,534	14,550
Operating lease liability	6,371	7,019
Other	949	519
Total deferred tax assets	47,199	46,001
Deferred tax liabilities:
Derivatives	(331)	(2,457)
Deferred income annuities	(596)	(1,370)
Depreciation and amortization	(1,077)	(1,470)
Deferred loan fees	(4,351)	(4,445)
Mortgage servicing rights	(12,499)	(13,201)
Right of use asset	(5,884)	(6,547)
Core deposit intangible	(213)	(433)
Total deferred tax liabilities	(24,951)	(29,923)
Net deferred tax asset	$ 22,248	$ 16,078	$ 13,872	$ 3,975

INCOME TAXES - Changes In Net D

INCOME TAXES - Changes In Net Deferred Tax Asset (Liability) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
INCOME TAXES
Balance at beginning of year	$ 16,078	$ 13,872	$ 3,975
Deferred tax (provision) benefit	5,053	1,778	(3,162)
Adoption of CECL			736
Change in directors' retirement plan			(59)
Change in cash flow hedge	1,133	923	(1,862)
Change in securities available for sale	(16)	(495)	14,244
Balance at end of year	$ 22,248	$ 16,078	$ 13,872

INCOME TAXES - Unrecognized Tax

INCOME TAXES - Unrecognized Tax Benefits (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward]
Unrecognized Tax Benefits, Beginning Balance	$ 610	$ 599	$ 655
Additions for tax positions for prior years	5	142	244
Reductions for tax positions for prior years	(546)	(131)	(300)
Unrecognized Tax Benefits, Ending Balance	$ 69	$ 610	$ 599

INCOME TAXES - Unrecognized t_2

INCOME TAXES - Unrecognized tax benefits, interest accrued, and range of reasonably possible changes (Details) $ in Thousands	Dec. 31, 2024 USD ($)
Unrecognized tax benefits
Unrecognized tax benefits	$ 59
Accrued interest on unrecognized tax benefits	10
Portion that, if recognized, would reduce tax expense and effective tax rate	69
Reasonably possible reduction to the balance of unrecognized tax in subsequent year	69
Portion that, if recognized, would reduce tax expense and effective tax rate	$ 69

OTHER COMMITMENTS AND CONTING_3

OTHER COMMITMENTS AND CONTINGENCIES (Details) - USD ($)	Dec. 31, 2024	Dec. 31, 2023
Obligation to Repurchase Receivables Sold
OTHER COMMITMENTS AND CONTINGENCIES
Contingent liability	$ 305,000	$ 305,000
Other Liabilities And Accrued Expenses \| Obligation to Repurchase Receivables Sold
OTHER COMMITMENTS AND CONTINGENCIES
Contingent liability	3,000,000	3,000,000
Recourse liability	0	0
Commitments to grant residential real estate loans - HarborOne Mortgage
OTHER COMMITMENTS AND CONTINGENCIES
Financial instruments committed contract amount	38,929,000	35,029,000
Commitments to grant other loans
OTHER COMMITMENTS AND CONTINGENCIES
Financial instruments committed contract amount	25,191,000	48,547,000
Unadvanced funds on home equity lines of credit
OTHER COMMITMENTS AND CONTINGENCIES
Financial instruments committed contract amount	281,890,000	260,376,000
Unadvanced funds on revolving lines of credit
OTHER COMMITMENTS AND CONTINGENCIES
Financial instruments committed contract amount	270,735,000	306,943,000
Unadvanced funds on construction loans
OTHER COMMITMENTS AND CONTINGENCIES
Financial instruments committed contract amount	$ 166,726,000	$ 210,829,000

OTHER COMMITMENTS AND CONTING_4

OTHER COMMITMENTS AND CONTINGENCIES - Unfunded Commitments (Details) - Unfunded Commitment - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Off-Balance Sheet, Credit Loss, Liability [Roll Forward]
Beginning balance	$ 3,918	$ 4,927
Provision	(412)	(1,009)	$ 996
Ending balance	3,506	3,918	4,927
Cumulative Effect, Period of Adoption, Adjustment
Off-Balance Sheet, Credit Loss, Liability [Roll Forward]
Beginning balance			3,931
Commercial \| Commercial real estate
Off-Balance Sheet, Credit Loss, Liability [Roll Forward]
Beginning balance	411	628
Provision	536	(217)	248
Ending balance	947	411	628
Commercial \| Commercial real estate \| Cumulative Effect, Period of Adoption, Adjustment
Off-Balance Sheet, Credit Loss, Liability [Roll Forward]
Beginning balance			380
Commercial \| Commercial construction
Off-Balance Sheet, Credit Loss, Liability [Roll Forward]
Beginning balance	2,351	3,079
Provision	(953)	(728)	518
Ending balance	1,398	2,351	3,079
Commercial \| Commercial construction \| Cumulative Effect, Period of Adoption, Adjustment
Off-Balance Sheet, Credit Loss, Liability [Roll Forward]
Beginning balance			2,561
Commercial \| Commercial and industrial
Off-Balance Sheet, Credit Loss, Liability [Roll Forward]
Beginning balance	882	870
Provision	(89)	12	212
Ending balance	793	882	870
Commercial \| Commercial and industrial \| Cumulative Effect, Period of Adoption, Adjustment
Off-Balance Sheet, Credit Loss, Liability [Roll Forward]
Beginning balance			658
Residential \| Residential Real Estate
Off-Balance Sheet, Credit Loss, Liability [Roll Forward]
Beginning balance	254	336
Provision	105	(82)	18
Ending balance	359	254	336
Residential \| Residential Real Estate \| Cumulative Effect, Period of Adoption, Adjustment
Off-Balance Sheet, Credit Loss, Liability [Roll Forward]
Beginning balance			318
Consumer loans
Off-Balance Sheet, Credit Loss, Liability [Roll Forward]
Beginning balance	20	14
Provision	(11)	6
Ending balance	$ 9	$ 20	14
Consumer loans \| Cumulative Effect, Period of Adoption, Adjustment
Off-Balance Sheet, Credit Loss, Liability [Roll Forward]
Beginning balance			$ 14

DERIVATIVES (Details)

DERIVATIVES (Details)	12 Months Ended
DERIVATIVES (Details)	Dec. 31, 2024 USD ($) derivative	Dec. 31, 2023 USD ($)	Jun. 30, 2023 USD ($)
Derivative loan commitments
Derivative disclosures
Loan commitment specified period	60 days
Interest rate swaps
Derivative disclosures
Securities pledged to secure the Company's liability for the offsetting interest rate swaps	$ 0
Interest rate swaps \| Designated as hedging instruments \| Fair value hedge
Derivative disclosures
Notional amount	$ 100,000,000	$ 100,000,000	$ 100,000,000
Number of derivative instruments held \| derivative	2
Interest rate swaps \| Designated as hedging instruments \| Cashflow hedge
Derivative disclosures
Notional amount	$ 100,000,000	$ 100,000,000
Number of derivative instruments held \| derivative	1
Maturity term	3 months 7 days
Fixed rate	0.67%
Variable rate	4.986%
Fair value assets	$ 1,000,000
Amount to be reclassified in next 12 months	$ 1,000,000

DERIVATIVES - Cumulative basis

DERIVATIVES - Cumulative basis adjustment for fair value hedges (Details) - Fair Value Hedging - Designated as hedging instruments - USD ($)	Dec. 31, 2024	Dec. 31, 2023
Derivative disclosures
Carrying Amount of the Hedged Assets	$ 100,080,000	$ 100,893,000
Cumulative Amount of Fair Value Hedging Adjustment Included in the Carrying Amount of the Hedged Assets	80,000	893,000
Interest rate swaps
Derivative disclosures
Carrying Amount of the Hedged Assets	$ 100,080,000	$ 100,893,000
Hedged Asset, Statement of Financial Position [Extensible Enumeration]	Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss	Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss
Cumulative Amount of Fair Value Hedging Adjustment Included in the Carrying Amount of the Hedged Assets	$ 80,000	$ 893,000
Amortized cost	1,140,000,000
Designated amount of hedged items	$ 100,000,000

DERIVATIVES - Outstanding notio

DERIVATIVES - Outstanding notional balances and fair values of outstanding derivative instruments (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023	Jun. 30, 2023
Other assets
Derivative disclosures
Fair Value, Assets	$ 24,929	$ 28,824
Other liabilities
Derivative disclosures
Fair Value, Liabilities	23,546	24,551
Designated as hedging instruments \| Other assets
Derivative disclosures
Fair Value, Assets	1,152	5,095
Designated as hedging instruments \| Other liabilities
Derivative disclosures
Fair Value, Liabilities	84	855
Not designated as hedging instruments \| Other assets
Derivative disclosures
Fair Value, Assets	23,777	23,729
Not designated as hedging instruments \| Other liabilities
Derivative disclosures
Fair Value, Liabilities	23,462	23,696
Derivative loan commitments \| Not designated as hedging instruments
Derivative disclosures
Notional Amount	38,929	30,165
Derivative loan commitments \| Not designated as hedging instruments \| Other assets
Derivative disclosures
Fair Value, Assets	374	480
Derivative loan commitments \| Not designated as hedging instruments \| Other liabilities
Derivative disclosures
Fair Value, Liabilities	61	158
Forward loan sale commitments \| Not designated as hedging instruments
Derivative disclosures
Notional Amount	50,500	30,000
Forward loan sale commitments \| Not designated as hedging instruments \| Other assets
Derivative disclosures
Fair Value, Assets	382	4
Forward loan sale commitments \| Not designated as hedging instruments \| Other liabilities
Derivative disclosures
Fair Value, Liabilities	4	293
Interest rate swaps \| Designated as hedging instruments \| Fair value hedge
Derivative disclosures
Notional Amount	100,000	100,000	$ 100,000
Interest rate swaps \| Designated as hedging instruments \| Cashflow hedge
Derivative disclosures
Notional Amount	100,000	100,000
Fair Value, Assets	1,000
Interest rate swaps \| Designated as hedging instruments \| Other assets \| Fair value hedge
Derivative disclosures
Fair Value, Assets	112
Interest rate swaps \| Designated as hedging instruments \| Other assets \| Cashflow hedge
Derivative disclosures
Fair Value, Assets	1,040	5,095
Interest rate swaps \| Designated as hedging instruments \| Other liabilities \| Fair value hedge
Derivative disclosures
Fair Value, Liabilities	84	855
Interest rate swaps \| Not designated as hedging instruments
Derivative disclosures
Notional Amount	1,015,448	863,348
Interest rate swaps \| Not designated as hedging instruments \| Other assets
Derivative disclosures
Fair Value, Assets	23,021	23,245
Interest rate swaps \| Not designated as hedging instruments \| Other liabilities
Derivative disclosures
Fair Value, Liabilities	23,021	23,245
Risk participation agreements \| Not designated as hedging instruments
Derivative disclosures
Notional Amount	216,245	$ 189,275
Interest Rate Futures \| Not designated as hedging instruments
Derivative disclosures
Notional Amount	35,400
Interest Rate Futures \| Not designated as hedging instruments \| Other liabilities
Derivative disclosures
Fair Value, Liabilities	$ 376

DERIVATIVES - Net gains and los

DERIVATIVES - Net gains and losses (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Derivative disclosures
(Loss) gain in OCI on derivatives (effective portion), net of tax	$ (6,273)	$ 3,460	$ (45,445)
Designated as hedging instruments
Derivative disclosures
Total derivative gain (loss)	69	38
(Loss) gain in OCI on derivatives (effective portion), net of tax	(2,895)	(2,314)	4,783
Gain (loss) reclassified from OCI into interest income or interest expense (effective portion)	4,883	4,622	$ 1,164
Designated as hedging instruments \| Derivative loan commitments
Derivative disclosures
Total derivative gain (loss)	$ (814)	$ 893
Derivative, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration]	Interest and Dividend Income, Operating	Interest and Dividend Income, Operating	Interest and Dividend Income, Operating
Designated as hedging instruments \| Interest rate swaps
Derivative disclosures
Total derivative gain (loss)	$ 883	$ (855)
Derivative, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration]	Interest and Dividend Income, Operating	Interest and Dividend Income, Operating	Interest and Dividend Income, Operating
Not designated as hedging instruments
Derivative disclosures
Total derivative gain (loss)	$ (328)	$ (350)	$ (681)
Not designated as hedging instruments \| Derivative loan commitments
Derivative disclosures
Total derivative gain (loss)	$ (10)	$ 150	$ (1,259)
Derivative, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration]	Mortgage Banking Noninterest Income	Mortgage Banking Noninterest Income	Mortgage Banking Noninterest Income
Not designated as hedging instruments \| Forward loan sale commitments
Derivative disclosures
Total derivative gain (loss)	$ 668	$ (500)	$ 248
Derivative, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration]	Mortgage Banking Noninterest Income	Mortgage Banking Noninterest Income	Mortgage Banking Noninterest Income
Not designated as hedging instruments \| Interest rate futures
Derivative disclosures
Total derivative gain (loss)	$ (986)
Derivative, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration]	Mortgage Banking Noninterest Income	Mortgage Banking Noninterest Income	Mortgage Banking Noninterest Income
Not designated as hedging instruments \| Interest rate swaps
Derivative disclosures
Total derivative gain (loss)			$ 330
Derivative, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration]	Noninterest Income, Other Operating Income	Noninterest Income, Other Operating Income	Noninterest Income, Other Operating Income

DERIVATIVES - Offsetting (Detai

DERIVATIVES - Offsetting (Details) - Interest rate swaps $ in Thousands	Dec. 31, 2024 USD ($)
Designated as hedging instruments \| Deposits
Derivative disclosures
Gross Amounts of Recognized Assets (Liabilities)	$ 1,040
Net Amounts Assets (Liabilities) presented in the Consolidated Balance Sheets	1,040
Cash Collateral (Received) Posted	(1,040)
Designated as hedging instruments \| Residential real estate loans
Derivative disclosures
Gross Amounts of Recognized Assets (Liabilities)	28
Net Amounts Assets (Liabilities) presented in the Consolidated Balance Sheets	28
Net Amount	28
Not designated as hedging instruments
Derivative disclosures
Gross Amounts of Recognized Assets (Liabilities)	21,824
Net Amounts Assets (Liabilities) presented in the Consolidated Balance Sheets	21,824
Cash Collateral (Received) Posted	(6,560)
Net Amount	$ 15,264

OPERATING LEASE RIGHT-OF-USE _3

OPERATING LEASE RIGHT-OF-USE ASSETS AND LIABILITIES (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Operating lease ROU assets	$ 20,900	$ 22,900
Operating Lease, Right-of-Use Asset, Statement of Financial Position [Extensible List]	Other Assets.	Other Assets.
Operating lease liabilities	$ 22,683	$ 24,500
Operating Lease, Liability, Statement of Financial Position [Extensible List]	Accrued Liabilities and Other Liabilities	Accrued Liabilities and Other Liabilities
Weighted-average remaining lease term (years)	15 years 10 months 6 days	16 years 2 months 27 days
Minimum
Lease expiration	2 months	2 months
Maximum
Lease expiration	33 years 2 months 12 days	34 years 8 months 12 days

OPERATING LEASE RIGHT-OF-USE _4

OPERATING LEASE RIGHT-OF-USE ASSETS AND LIABILITIES - Maturities Due (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Lessee, Operating Lease, Liability, Payment, Due [Abstract]
2025	$ 2,829
2026	2,661
2027	2,536
2028	2,293
2029	2,045
Thereafter	15,084
Total lease payments	27,448
Imputed interest	(4,765)
Total present value of operating lease liabilities	$ 22,683	$ 24,500

OPERATING LEASE RIGHT-OF-USE _5

OPERATING LEASE RIGHT-OF-USE ASSETS AND LIABILITIES - Weighted Average Discount and Remaining Lease Term (Details)	Dec. 31, 2024	Dec. 31, 2023
OPERATING LEASE RIGHT-OF-USE ASSETS AND LIABILITIES
Weighted-average discount rate	2.15%	2.08%
Weighted-average remaining lease term (years)	15 years 10 months 6 days	16 years 2 months 27 days

OPERATING LEASE RIGHT-OF-USE _6

OPERATING LEASE RIGHT-OF-USE ASSETS AND LIABILITIES - Lease Expense (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
OPERATING LEASE RIGHT-OF-USE ASSETS AND LIABILITIES
Operating lease expense	$ 2,868	$ 3,123	$ 3,301
Short-term lease expense	116	135	138
Variable lease expense	21	15
Sublease income		(12)	(13)
Total lease expense	3,005	3,261	3,426
Other Information
Cash paid for amounts included in the measurement of lease liabilities-operating cash flows for operating leases	2,898	3,143	3,261
Operating Lease - Operating cash flows (Liability reduction)	2,410	2,609	2,722
ROU assets obtained in exchange for new operating lease liabilities	$ 489	$ 606	$ 3,257

COMPENSATION AND BENEFIT PLAN_2

COMPENSATION AND BENEFIT PLANS (Details)	12 Months Ended
COMPENSATION AND BENEFIT PLANS (Details)	Dec. 31, 2024 USD ($) item shares	Dec. 31, 2023 USD ($) shares	Dec. 31, 2022 USD ($) shares
Defined Contribution Plan
Contributions expenses	$ 1,100,000	$ 1,200,000	$ 1,600,000
ESOP compensation expense	$ 2,664,000	$ 2,501,000	$ 3,278,000
ESOP restoration benefit payable period	six months and a day
Allocated shares \| shares	1,501,269	1,336,207
Shares committed to be allocated \| shares	230,723	230,723	230,723
Unallocated shares \| shares	2,679,670	2,910,393
Total shares \| shares	4,411,662	4,477,323
Fair value of unallocated shares, end of period	$ 31,700,494	$ 34,866,506
Through 2035
Defined Contribution Plan
Shares committed to be allocated \| shares	230,723
From 2036 to 2038
Defined Contribution Plan
Shares committed to be allocated \| shares	124,148
HarborOne Bank
Defined Contribution Plan
Employee compensation the bank contributed (as a percent)	3%	3%	4%
HarborOne Mortgage
Defined Contribution Plan
Percentage of matched contribution	50%	50%	50%
Employee contributions matched 50% (as a percent)	4%	4%	4%
Maximum \| HarborOne Mortgage
Defined Contribution Plan
Maximum amount employer will match	$ 500	$ 2,000	$ 2,000
Split-dollar Life Insurance Arrangements
Defined Contribution Plan
Expense amount	0	0	42,000
Split-dollar Life Insurance Arrangements \| Other Liabilities And Accrued Expenses
Defined Contribution Plan
Employer obligation	382,000	389,000	394,000
Deferred Compensation Plan
Defined Contribution Plan
Expense amount	$ 38,000	36,000	35,000
Number of executive officers \| item	1
Interest rate (as a percent)	1.50%
Eligible age for medical insurance plan	65 years
Deferred Compensation Plan \| Other Liabilities And Accrued Expenses
Defined Contribution Plan
Employer obligation	$ 528,000	490,000	454,000
Supplemental medical and prescription drug
Defined Contribution Plan
Number of executive officers \| item	1
Number of former executive officers \| item	1
Deferred compensation expense	$ (64,000)	(59,000)	(9,000)
Supplemental medical and prescription drug \| Other Liabilities And Accrued Expenses
Defined Contribution Plan
Employer obligation	226,000	164,000	160,000
Management Incentive Program
Defined Contribution Plan
Expense amount	2,400,000	2,500,000	4,100,000
Supplemental Retirement Plans
Defined Contribution Plan
Contributions expenses	497,000	1,000,000	1,500,000
Supplemental Retirement Plans \| Other Liabilities And Accrued Expenses
Defined Contribution Plan
Employer obligation	$ 10,300,000	10,800,000	10,100,000
Supplemental Retirement Plans \| Executive
Defined Contribution Plan
Number of executive officers \| item	1
Supplemental Retirement Plans \| Retired senior executive officer
Defined Contribution Plan
Number of executive officers \| item	1
Post-Retirement Life Insurance
Defined Contribution Plan
Expense amount	$ 36,000	26,000	34,000
Post-Retirement Life Insurance \| Other Liabilities And Accrued Expenses
Defined Contribution Plan
Employer obligation	357,000	321,000	295,000
Directors Retirement Plan
Defined Contribution Plan
Benefit plan liability	$ 1,900,000
Directors Retirement Plan \| Maximum
Defined Contribution Plan
Vesting period	6 years
ESOP Restoration Plan
Defined Contribution Plan
ESOP compensation expense	$ 225,000		$ 636,000
Credit to ESOP compensation expense		$ 500,000

STOCK-BASED COMPENSATION (Detai

STOCK-BASED COMPENSATION (Details) - USD ($) $ in Millions	12 Months Ended
STOCK-BASED COMPENSATION (Details) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022	Sep. 29, 2020
STOCK-BASED COMPENSATION
Stock based compensation expense	$ 2.1	$ 2.2	$ 3.3
2020 Equity Plan
STOCK-BASED COMPENSATION
Shares reserved for issuance				4,500,000
Employee Stock Option [Member]
STOCK-BASED COMPENSATION
Term (years)	10 years
Minimum \| Employee Stock Option [Member]
STOCK-BASED COMPENSATION
Vesting period (years)	1 year
Maximum \| Employee Stock Option [Member]
STOCK-BASED COMPENSATION
Vesting period (years)	3 years

STOCK-BASED COMPENSATION - Stoc

STOCK-BASED COMPENSATION - Stock options (Details) - Employee Stock Option [Member]	12 Months Ended
	Dec. 31, 2024 USD ($) $ / shares shares
Stock Option Awards
Balance at January 1, 2024 \| shares	1,049,075
Exercised \| shares	(13,000)
Balance at December 31, 2024 \| shares	1,036,075
Exercisable at December 31, 2024 \| shares	1,036,075
Weighted Average Exercise Price
Balance at the beginning of the period \| $ / shares	$ 10
Exercised \| $ / shares	10.23
Balance at the end of the period \| $ / shares	9.99
Exercisable at end of the period \| $ / shares	$ 9.99
Weighted Average Remaining Contractual Term (years)
Weighted average remaining contractual term, balance (years)	3 years 1 month 13 days
Exercisable at end of the period	3 years 1 month 13 days
Aggregate Intrinsic Value
Balance at the end of the period \| $	$ 1,903,072
Exercisable at end of the period \| $	$ 1,903,072

STOCK-BASED COMPENSATION - Rest

STOCK-BASED COMPENSATION - Restricted Stock and Performance Restricted Stock Units (Details)	12 Months Ended
	Dec. 31, 2024 USD ($) $ / shares shares
Restricted Stock
Outstanding Restricted Stock Awards
Non-vested stock awards, beginning balance \| shares	249,228
Vested \| shares	(130,146)
Granted \| shares	220,917
Forfeited \| shares	(35,492)
Non-vested stock awards, ending balance \| shares	304,507
Unrecognized cost \| $	$ 1,945,215
Weighted average remaining recognition period (years)	11 months 1 day
Weighted Average Grant Price
Non-vested stock awards, beginning balance \| $ / shares	$ 13.68
Vested \| $ / shares	13.45
Granted \| $ / shares	10.2
Forfeited \| $ / shares	11.65
Non-vested stock awards, ending balance \| $ / shares	$ 11.49
Performance Stock Units
Outstanding Restricted Stock Awards
Non-vested stock awards, beginning balance \| shares	155,115
Vested \| shares	(63,860)
Granted \| shares	65,305
Forfeited \| shares	(9,088)
Non-vested stock awards, ending balance \| shares	147,472
Unrecognized cost \| $	$ 662,900
Weighted average remaining recognition period (years)	11 months 4 days
Weighted Average Grant Price
Non-vested stock awards, beginning balance \| $ / shares	$ 13.42
Vested \| $ / shares	11.95
Granted \| $ / shares	10.02
Forfeited \| $ / shares	12.87
Non-vested stock awards, ending balance \| $ / shares	$ 12.58

MINIMUM REGULATORY CAPITAL RE_3

MINIMUM REGULATORY CAPITAL REQUIREMENTS (Details)	12 Months Ended
MINIMUM REGULATORY CAPITAL REQUIREMENTS (Details)	Dec. 31, 2024 USD ($) $ / shares shares	Dec. 31, 2023 USD ($) $ / shares shares	Dec. 31, 2022 USD ($)
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
Number Of Previous Years Net Income Retained Dividend Restrictions	2 years
Common equity Tier 1 capital to risk-weighted assets
Actual, Capital amount	$ 565,319,000	$ 567,248,000
Actual, Ratio	0.118	0.12
Minimum Required for Capital Adequacy Purposes	$ 215,789,000	$ 212,816,000
Minimum Required for Capital Adequacy Purposes, ratio	0.045	0.045
Tier 1 capital to risk weighted assets
Actual, Capital amount	$ 565,319,000	$ 567,248,000
Actual, Ratio	0.118	0.12
Minimum Required for Capital Adequacy Purposes	$ 287,718,000	$ 283,755,000
Minimum Required for Capital Adequacy Purposes, ratio	0.06	0.06
Total capital to risk-weighted assets
Actual, Capital amount	$ 624,926,000	$ 619,138,000
Actual, Ratio	0.13	0.131
Minimum Required for Capital Adequacy Purposes	$ 383,624,000	$ 378,340,000
Minimum Required for Capital Adequacy Purposes, ratio	0.08	0.08
Tier 1 capital to average assets
Actual, Capital amount	$ 565,319,000	$ 567,248,000
Actual, Ratio	0.098	0.10
Minimum Required for Capital Adequacy Purposes	$ 229,865,000	$ 226,690,000
Minimum Required for Capital Adequacy Purposes , ratio	0.04	0.04
Preferred Stock
Preferred stock, shares authorized \| shares	1,000,000	1,000,000
Preferred Stock, Par Value Per Share \| $ / shares	$ 0	$ 0
Preferred Stock, shares issued \| shares	0	0
Preferred Stock, shares outstanding \| shares	0	0
Treasury Stock
Share repurchase amount	$ 20,000,000
Shares available for repurchase \| shares	2,222,568
Treasury stock, additional shares acquired related to tax obligations \| shares	44,251	25,439
Treasury stock additional shares acquired associated with tax obligations, average cost per share \| $ / shares	$ 10.18	$ 13.42
Treasury stock, additional shares acquired related to tax obligations, value	$ 450,000	$ 341,000
Treasury stock, value	$ 21,548,000	$ 45,206,000	$ 62,525,000
Share Repurchase Programs
Treasury Stock
Treasury stock purchased (in shares) \| shares	1,895,980	3,728,550
Shares acquired, average cost per share \| $ / shares	$ 11.13	$ 12.03
Treasury stock, value	$ 21,100,000	$ 44,900,000
HarborOne Bank
Common equity Tier 1 capital to risk-weighted assets
Actual, Capital amount	$ 528,185,000	$ 509,791,000
Actual, Ratio	0.11	0.108
Minimum Required for Capital Adequacy Purposes	$ 215,846,000	$ 212,724,000
Minimum Required for Capital Adequacy Purposes, ratio	0.045	0.045
Minimum Required to be Considered "Well Capitalized" Under Prompt Corrective Action Provisions	$ 311,778,000	$ 307,267,000
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	$ 528,185,000	$ 509,791,000
Actual, Ratio	0.11	0.108
Minimum Required for Capital Adequacy Purposes	$ 287,795,000	$ 283,632,000
Minimum Required for Capital Adequacy Purposes, ratio	0.06	0.06
Minimum Required to be Considered "Well Capitalized" Under Prompt Corrective Action Provisions	$ 383,727,000	$ 378,175,000
Minimum Required to be Considered "Well Capitalized" Under Prompt Corrective Action Provisions, ratio	0.08	0.08
Total capital to risk-weighted assets
Actual, Capital amount	$ 587,792,000	$ 561,682,000
Actual, Ratio	0.123	0.119
Minimum Required for Capital Adequacy Purposes	$ 383,727,000	$ 378,175,000
Minimum Required for Capital Adequacy Purposes, ratio	0.08	0.08
Minimum Required to be Considered "Well Capitalized" Under Prompt Corrective Action Provisions	$ 479,659,000	$ 472,719,000
Minimum Required to be Considered "Well Capitalized" Under Prompt Corrective Action Provisions, ratio	0.10	0.10
Tier 1 capital to average assets
Actual, Capital amount	$ 528,185,000	$ 509,791,000
Actual, Ratio	0.092	0.09
Minimum Required for Capital Adequacy Purposes	$ 229,836,000	$ 226,666,000
Minimum Required for Capital Adequacy Purposes , ratio	0.04	0.04
Minimum Required to be Considered "Well Capitalized" Under Prompt Corrective Action Provisions	$ 287,295,000	$ 283,333,000
Minimum Required to be Considered "Well Capitalized" Under Prompt Corrective Action Provisions, ratio	0.05	0.05

COMPREHENSIVE INCOME (LOSS) (De

COMPREHENSIVE INCOME (LOSS) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Accumulated other comprehensive (loss) income
Balance at beginning of period	$ 583,759	$ 616,976	$ 679,261
Balance at end of period	575,011	583,759	616,976
Accumulated Other Comprehensive Income (Loss)
Accumulated other comprehensive (loss) income
Balance at beginning of period	(43,622)	(47,082)	(1,637)
Other comprehensive income (loss) before reclassifications	(3,462)	7,653	(56,554)
Amounts reclassified from accumulated other comprehensive income (loss)	(3,926)	(4,688)	(1,206)
Net current period other comprehensive income (loss)	(7,388)	2,965	(57,760)
Related tax effect	1,115	495	12,315
Balance at end of period	(49,895)	(43,622)	(47,082)
Post-retirement Benefit
Accumulated other comprehensive (loss) income
Balance at beginning of period	85	150
Other comprehensive income (loss) before reclassifications	(47)	1	251
Amounts reclassified from accumulated other comprehensive income (loss)	(84)	(66)	(42)
Net current period other comprehensive income (loss)	(131)	(65)	209
Related tax effect			(59)
Balance at end of period	(46)	85	150
Available for Sale Securities
Accumulated other comprehensive (loss) income
Balance at beginning of period	(47,373)	(53,212)	(2,834)
Other comprehensive income (loss) before reclassifications	(4,243)	6,249	(64,620)
Amounts reclassified from accumulated other comprehensive income (loss)	1,041
Net current period other comprehensive income (loss)	(3,202)	6,249	(64,620)
Related tax effect	(45)	(410)	14,242
Balance at end of period	(50,620)	(47,373)	(53,212)
Cash Flow Hedge
Accumulated other comprehensive (loss) income
Balance at beginning of period	3,666	5,980	1,197
Other comprehensive income (loss) before reclassifications	828	1,403	7,815
Amounts reclassified from accumulated other comprehensive income (loss)	(4,883)	(4,622)	(1,164)
Net current period other comprehensive income (loss)	(4,055)	(3,219)	6,651
Related tax effect	1,160	905	(1,868)
Balance at end of period	$ 771	$ 3,666	$ 5,980

FAIR VALUE OF ASSETS AND LIAB_3

FAIR VALUE OF ASSETS AND LIABILITIES (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Assets and liabilities measured on recurring basis
Fair Value	$ 263,904	$ 290,151
Derivative loan commitments
Assets and liabilities measured on recurring basis
Weighted average pull-through rate	91%	89%
Recurring
Assets and liabilities measured on recurring basis
Fair Value	$ 263,904	$ 290,151
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	263,904	290,151
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) $ in Thousands	12 Months Ended
	Dec. 31, 2024 USD ($) item	Dec. 31, 2023 USD ($) item	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)
Assets and liabilities measured on recurring basis
Number of transfers \| item	0	0
Assets
Securities available for sale, at fair value	$ 263,904	$ 290,151
Loans held for sale	36,768	19,686
Mortgage servicing rights	$ 44,500	$ 46,111	$ 48,138	$ 38,268
Derivative loan commitments
Assets
Derivative Asset, Statement of Financial Position [Extensible Enumeration]	Other Assets.	Other Assets.
Liabilities
Derivative Liability, Statement of Financial Position [Extensible Enumeration]	Accrued Liabilities and Other Liabilities	Accrued Liabilities and Other Liabilities
Recurring
Assets
Securities available for sale, at fair value	$ 263,904	$ 290,151
Loans held for sale	36,768	19,686
Mortgage servicing rights	44,500	46,111
Total assets	370,101	384,772
Recurring \| Derivative loan commitments
Assets
Derivative assets	24,929	28,824
Liabilities
Derivative liabilities	23,546	24,551
Recurring \| Level 1
Assets
Securities available for sale, at fair value	0	0
Recurring \| Level 2
Assets
Securities available for sale, at fair value	263,904	290,151
Loans held for sale	36,768	19,686
Mortgage servicing rights	44,500	46,111
Total assets	369,345	384,288
Recurring \| Level 2 \| Derivative loan commitments
Assets
Derivative assets	24,173	28,340
Liabilities
Derivative liabilities	23,481	24,100
Recurring \| Level 3
Assets
Securities available for sale, at fair value	0	0
Total assets	756	484
Recurring \| Level 3 \| Derivative loan commitments
Assets
Derivative assets	756	484
Liabilities
Derivative liabilities	65	451
Non-recurring
Liabilities
Liabilities, Fair value	$ 0	$ 0

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	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Changes in Level 3 assets
Balance at beginning of period	$ 484	$ 487	$ 1,583
Total gains (losses) included in net income	272	(3)	(1,096)
Balance at end of period	756	484	487
Changes in unrealized gains relating to instruments at period end	756	484	487
Changes in Level 3 liabilities
Balance at beginning of period	(451)	(104)	(189)
Total gains (losses) included in net income	386	(347)	85
Balance at end of period	(65)	(451)	(104)
Changes in unrealized losses relating to instruments at period end	$ (65)	$ (451)	$ (104)

FAIR VALUE OF ASSETS AND LIAB_6

FAIR VALUE OF ASSETS AND LIABILITIES - Impaired Loans (Details) - Non-recurring $ in Thousands	Dec. 31, 2024 USD ($)	Dec. 31, 2023 USD ($)
Assets and liabilities measured on non-recurring basis
Liabilities, Fair value	$ 0	$ 0
Level 3 \| Collateral-dependent loans
Assets and liabilities measured on non-recurring basis
Assets, Fair value	47,463	5,746
Level 3 \| Collateral-dependent individually analyzed loans \| Appraisal of collateral
Assets and liabilities measured on non-recurring basis
Assets, Fair value	$ 47,463	$ 5,908
Measurement input	0.06	0.06

FAIR VALUE OF ASSETS AND LIAB_7

FAIR VALUE OF ASSETS AND LIABILITIES - Balance Sheet Grouping (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Financial assets:
Cash and cash equivalents	$ 231,071	$ 227,350
Securities available for sale, at fair value	263,904	290,151
Securities held to maturity	19,285	19,262
Federal Home Loan Bank stock	23,277	27,098
Loans held for sale	36,768	19,686
Loans, net	4,796,398	4,702,339
Retirement plan annuities	15,698	15,170
Accrued interest receivable	18,393	18,169
Financial liabilities:
Deposits	4,550,753	4,387,409
Mortgagors' escrow accounts	8,537	8,872
Accrued interest payable	6,575	5,251
Carrying Amount
Financial assets:
Cash and cash equivalents	231,071	227,350
Securities available for sale, at fair value	263,904	290,151
Securities held to maturity	19,627	19,796
Federal Home Loan Bank stock	23,277	27,098
Loans held for sale	36,768	19,686
Loans, net	4,796,398	4,702,339
Retirement plan annuities	15,698	15,170
Accrued interest receivable	18,393	18,169
Derivatives	24,929	28,824
Financial liabilities:
Deposits	4,550,753	4,387,409
Borrowed funds	516,555	568,462
Mortgagors' escrow accounts	8,537	8,872
Accrued interest payable	6,575	5,251
Derivatives	23,546	24,551
Fair Value
Financial assets:
Cash and cash equivalents	231,071	227,350
Securities available for sale, at fair value	263,904	290,151
Securities held to maturity	19,285	19,262
Loans held for sale	36,768	19,686
Loans, net	4,577,140	4,482,448
Retirement plan annuities	15,698	15,170
Accrued interest receivable	18,393	18,169
Derivatives	24,929	28,824
Financial liabilities:
Deposits	4,549,755	4,376,269
Borrowed funds	516,287	567,158
Mortgagors' escrow accounts	8,537	8,872
Accrued interest payable	6,575	5,251
Derivatives	23,546	24,551
Fair Value \| Level 1
Financial assets:
Cash and cash equivalents	231,071	227,350
Fair Value \| Level 2
Financial assets:
Securities available for sale, at fair value	263,904	290,151
Securities held to maturity	19,285	19,262
Loans held for sale	36,768	19,686
Accrued interest receivable	18,393	18,169
Derivatives	24,173	28,340
Financial liabilities:
Borrowed funds	516,287	567,158
Accrued interest payable	6,575	5,251
Derivatives	23,481	24,100
Fair Value \| Level 3
Financial assets:
Loans, net	4,577,140	4,482,448
Retirement plan annuities	15,698	15,170
Derivatives	756	484
Financial liabilities:
Deposits	4,549,755	4,376,269
Mortgagors' escrow accounts	8,537	8,872
Derivatives	$ 65	$ 451

EARNINGS PER SHARE ("EPS") (Det

EARNINGS PER SHARE ("EPS") (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
EARNINGS PER SHARE ("EPS")
Net income available to common stockholders (in thousands)	$ 27,407	$ 16,077	$ 45,589
Average number of common shares outstanding	44,537,282	46,732,435	50,293,762
Less: Average unallocated ESOP shares and non-vested restricted shares	(3,316,397)	(3,510,697)	(3,810,098)
Weighted average number of common shares outstanding used to calculate basic earnings per common share	41,220,885	43,221,738	46,483,664
Dilutive effect of share-based compensation	251,221	197,884	634,793
Weighted average number of common shares outstanding used to calculate diluted earnings per common share	41,472,106	43,419,622	47,118,457
Basic	$ 0.66	$ 0.37	$ 0.98
Diluted	$ 0.66	$ 0.37	$ 0.97
Antidilutive securities excluded from computation of earnings per share	0	58,572	20

SEGMENT REPORTING (Details)

SEGMENT REPORTING (Details)	12 Months Ended
SEGMENT REPORTING (Details)	Dec. 31, 2024 USD ($) segment	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)
Segment Reporting Information
Number of reportable segments \| segment	2
Interest and dividend income	$ 271,408,000	$ 244,288,000	$ 171,930,000
Interest expense	145,756,000	117,017,000	22,944,000
Net interest and dividend income	125,652,000	127,271,000	148,986,000
Provision for credit losses	8,277,000	5,680,000	5,660,000
Net interest and dividend income, after provision for credit losses	117,375,000	121,591,000	143,326,000
Mortgage banking income:
Gain on sale of mortgage loans	12,860,000	10,404,000	15,970,000
Changes in mortgage servicing rights fair value	(3,704,000)	(4,684,000)	5,332,000
Other	9,453,000	9,099,000	9,948,000
Total mortgage banking income	18,609,000	14,819,000	31,250,000
Other noninterest income	28,308,000	27,035,000	26,059,000
Total noninterest income	46,917,000	41,854,000	57,309,000
Compensation and benefits	74,016,000	73,917,000	83,273,000
Goodwill impairment	0	10,760,000
Other noninterest expense	56,019,000	53,643,000	55,633,000
Total noninterest expense	130,035,000	138,320,000	138,906,000
Income (loss) before income taxes	34,257,000	25,125,000	61,729,000
Provision (benefit) for income taxes	6,850,000	9,048,000	16,140,000
Net income	27,407,000	16,077,000	45,589,000
Total assets at period end	5,753,133,000	5,667,896,000	5,359,545,000
Total liabilities at period end	5,178,122,000	5,084,137,000	4,742,569,000
Goodwill at period end	59,042,000	59,042,000	69,802,000
Operating Segments \| HarborOne Bank
Segment Reporting Information
Interest and dividend income	270,677,000	243,367,000	170,250,000
Interest expense	145,633,000	114,210,000	20,949,000
Net interest and dividend income	125,044,000	129,157,000	149,301,000
Provision for credit losses	8,277,000	5,680,000	5,660,000
Net interest and dividend income, after provision for credit losses	116,767,000	123,477,000	143,641,000
Mortgage banking income:
Intersegment (loss) gain	(1,218,000)	(1,063,000)	(3,604,000)
Changes in mortgage servicing rights fair value	(246,000)	(346,000)	618,000
Other	704,000	769,000	873,000
Total mortgage banking income	(760,000)	(640,000)	(2,113,000)
Other noninterest income	28,269,000	26,996,000	25,930,000
Total noninterest income	27,509,000	26,356,000	23,817,000
Compensation and benefits	61,250,000	61,604,000	64,473,000
Other noninterest expense	48,100,000	45,664,000	45,934,000
Total noninterest expense	109,350,000	107,268,000	110,407,000
Income (loss) before income taxes	34,926,000	42,565,000	57,051,000
Provision (benefit) for income taxes	7,586,000	10,559,000	14,090,000
Net income	27,340,000	32,006,000	42,961,000
Total assets at period end	5,761,406,000	5,689,676,000	5,373,911,000
Total liabilities at period end	5,223,543,000	5,149,259,000	4,828,521,000
Goodwill at period end	59,042,000	59,042,000	59,042,000
Operating Segments \| HarborOne Mortgage.
Segment Reporting Information
Interest and dividend income	2,448,000	2,106,000	1,949,000
Interest expense	1,883,000	1,300,000	332,000
Net interest and dividend income	565,000	806,000	1,617,000
Net interest and dividend income, after provision for credit losses	565,000	806,000	1,617,000
Mortgage banking income:
Gain on sale of mortgage loans	12,860,000	10,404,000	15,970,000
Intersegment (loss) gain	1,097,000	849,000	3,185,000
Changes in mortgage servicing rights fair value	(3,458,000)	(4,338,000)	4,714,000
Other	8,749,000	8,330,000	9,075,000
Total mortgage banking income	19,248,000	15,245,000	32,944,000
Other noninterest income	14,000	(2,000)	129,000
Total noninterest income	19,262,000	15,243,000	33,073,000
Compensation and benefits	15,156,000	14,506,000	19,799,000
Goodwill impairment		10,760,000
Other noninterest expense	5,514,000	5,706,000	7,266,000
Total noninterest expense	20,670,000	30,972,000	27,065,000
Income (loss) before income taxes	(843,000)	(14,923,000)	7,625,000
Provision (benefit) for income taxes	(871,000)	(944,000)	2,777,000
Net income	28,000	(13,979,000)	4,848,000
Total assets at period end	117,411,000	96,942,000	124,229,000
Total liabilities at period end	60,428,000	39,987,000	25,295,000
Goodwill at period end			10,760,000
Operating Segments \| Other
Segment Reporting Information
Interest and dividend income	14,042,000	49,582,000	13,163,000
Interest expense		2,775,000	2,095,000
Net interest and dividend income	14,042,000	46,807,000	11,068,000
Net interest and dividend income, after provision for credit losses	14,042,000	46,807,000	11,068,000
Mortgage banking income:
Other noninterest income	25,000	41,000
Total noninterest income	25,000	41,000
Compensation and benefits	(2,390,000)	(2,193,000)	(999,000)
Other noninterest expense	2,404,000	2,273,000	2,433,000
Total noninterest expense	14,000	80,000	1,434,000
Income (loss) before income taxes	14,053,000	46,768,000	9,634,000
Provision (benefit) for income taxes	135,000	(567,000)	(727,000)
Net income	13,918,000	47,335,000	10,361,000
Total assets at period end	581,223,000	589,240,000	656,627,000
Total liabilities at period end	6,212,000	5,481,000	39,651,000
Eliminations
Segment Reporting Information
Interest and dividend income	(15,759,000)	(50,767,000)	(13,432,000)
Interest expense	(1,760,000)	(1,268,000)	(432,000)
Net interest and dividend income	(13,999,000)	(49,499,000)	(13,000,000)
Net interest and dividend income, after provision for credit losses	(13,999,000)	(49,499,000)	(13,000,000)
Mortgage banking income:
Intersegment (loss) gain	121,000	214,000	419,000
Total mortgage banking income	121,000	214,000	419,000
Total noninterest income	121,000	214,000	419,000
Other noninterest expense	1,000
Total noninterest expense	1,000
Income (loss) before income taxes	(13,879,000)	(49,285,000)	(12,581,000)
Net income	(13,879,000)	(49,285,000)	(12,581,000)
Total assets at period end	(706,907,000)	(707,962,000)	(795,222,000)
Total liabilities at period end	$ (112,061,000)	$ (110,590,000)	$ (150,898,000)

CONDENSED FINANCIAL STATEMENT_3

CONDENSED FINANCIAL STATEMENTS OF PARENT COMPANY - Balance Sheet (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Assets
Cash and due from banks	$ 44,090	$ 38,876
Other assets	99,719	97,697
Total assets	5,753,133	5,667,896	$ 5,359,545
Liabilities and Stockholders' Equity
Other liabilities and accrued expenses	95,702	114,143
Stockholders' equity	575,011	583,759	$ 616,976	$ 679,261
Total liabilities and stockholders' equity	5,753,133	5,667,896
Parent Company \| Reportable Legal Entities
Assets
Cash and due from banks	15,827	34,319
Investment in common stock of HarborOne Bank	537,877	526,302
Loan receivable - ESOP	26,995	28,119
Other assets	524	500
Total assets	581,223	589,240
Liabilities and Stockholders' Equity
Other liabilities and accrued expenses	6,212	5,481
Stockholders' equity	575,011	583,759
Total liabilities and stockholders' equity	$ 581,223	$ 589,240

CONDENSED FINANCIAL STATEMENT_4

CONDENSED FINANCIAL STATEMENTS OF PARENT COMPANY - Statement Of Net Income (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Statement of Net Income
Other income	$ 2,361	$ 3,072	$ 3,964
Total interest and dividend income	271,408	244,288	171,930
Interest expense	145,756	117,017	22,944
Interest expense	145,756	117,017	22,944
Provision (benefit) for income taxes	6,850	9,048	16,140
Net income	27,407	16,077	45,589
Parent Company \| Reportable Legal Entities
Statement of Net Income
Dividends from subsidiary	14,000	49,500	13,000
Interest from bank deposits	42	82	159
Interest on short-term investments			4
Interest on ESOP loan	2,390	2,193	999
Other income	25	41
Total interest and dividend income	16,457	51,816	14,162
Interest expense		2,775	2,095
Operating expenses	2,404	2,273	2,432
Total expenses	2,404	5,048	4,527
Income before income taxes and equity in undistributed net income (loss) of HarborOne Bank	14,053	46,768	9,635
Provision (benefit) for income taxes	135	(568)	(726)
Income before equity in income (loss) of subsidiaries	13,918	47,336	10,361
Equity in undistributed net income (loss) of HarborOne Bank	13,489	(31,259)	35,228
Net income	$ 27,407	$ 16,077	$ 45,589

CONDENSED FINANCIAL STATEMENT_5

CONDENSED FINANCIAL STATEMENTS OF PARENT COMPANY - Statement of Cash Flows (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Cash flows from operating activities:
Net income	$ 27,407	$ 16,077	$ 45,589
Adjustments to reconcile net income to net cash provided by operating activities:
Deferred income tax provision (benefit)	(5,053)	(1,778)	3,162
Share-based compensation	2,071	2,168	3,305
Net change in other assets	(1,304)	(192)	(20,388)
Net change in other liabilities	(15,089)	15,799	8,954
Net cash provided by operating activities	3,840	53,508	68,899
Cash flows from investing activities:
Net cash used by investing activities	(76,698)	(196,713)	(952,018)
Cash flows from financing activities:
Repurchase of common stock	(21,548)	(45,206)	(62,525)
Repayment of subordinated debt		(35,000)
Dividends paid	(13,108)	(12,826)	(12,188)
Net cash provided by financing activities	76,579	272,538	786,417
Net change in cash and cash equivalents	3,721	129,333	(96,702)
Cash and cash equivalents at beginning of period	227,350	98,017	194,719
Cash and cash equivalents at end of period	231,071	227,350	98,017
Parent Company \| Reportable Legal Entities
Cash flows from operating activities:
Net income	27,407	16,077	45,589
Adjustments to reconcile net income to net cash provided by operating activities:
Equity in undistributed net (income) loss of HarborOne Bank	(13,489)	31,259	(35,228)
Deferred income tax provision (benefit)	31	(60)	138
Share-based compensation	377	454	286
Net change in other assets	(52)	42	18
Net change in other liabilities	(737)	83	(97)
Net cash provided by operating activities	13,537	47,855	10,706
Cash flows from investing activities:
Repayment of ESOP loan	1,125	1,123	1,497
Advances to subsidiary	(2,394)	(2,193)	(999)
Repayment of advances to subsidiary	2,390	2,194	998
Net cash used by investing activities	1,121	1,124	1,496
Cash flows from financing activities:
Issuance of common stock	133	643	8,366
Repurchase of common stock	(21,548)	(45,206)	(62,525)
Proceeds from advance from subsidiary	1,373
Repayment of subordinated debt		(35,000)
Amortization of subordinated debt issuance costs		715	126
Dividends paid	(13,108)	(12,826)	(12,188)
Net cash provided by financing activities	(33,150)	(91,674)	(66,221)
Net change in cash and cash equivalents	(18,492)	(42,695)	(54,019)
Cash and cash equivalents at beginning of period	34,319	77,014	131,033
Cash and cash equivalents at end of period	$ 15,827	$ 34,319	$ 77,014