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HarborOne Bancorp, Inc. Announces 2017 Fourth Quarter Earnings

HARBORONE BANCORP (HONE)  More Company Research Source: Business Wire
US:NASDAQ Investor Relations: harboronebancorp.com
PDF BROCKTON, Mass.--(BUSINESS WIRE)-- HarborOne Bancorp, Inc. (the “Company”) (NASDAQ: HONE), the holding company for HarborOne Bank (the “Bank”), announced net income of $1.6 million, or $0.05 per basic and diluted share, for the fourth quarter of 2017, compared to $2.8 million, or $0.09 per basic and diluted share, for the prior quarter and net income of $2.9 million, or $0.09 per basic and diluted share, for the same quarter last year. The decrease in net income in the fourth quarter of 2017 primarily reflects a decrease in mortgage banking income of $1.5 million due to a decrease in mortgage origination volumes. One-time items impacting fourth quarter net income include a $1.2 million reversal of a contingent consideration accrual for Merrimack Mortgage Company, LLC that was settled in the fourth quarter and is included in other income, an accrual of $925,000 to freeze the director’s post retirement benefit plan inc [Read more]

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