The bank maintains a conservative capital structure with an equity-to-assets ratio of 0.10, though 90% of the $5.6 billion asset base is concentrated in investment securities.
| Cash & Short Term Investments | 1.68B | 494.98M | 517.5M | 399.17M | 588.75M | 482.37M | 451.09M | 314.81M | 251.64M | 186.68M | 169.19M | 201M |
| Cash & Due from Banks | 203.05M | 231.07M | 227.35M | 98.02M | 194.72M | 205.87M | 211.62M | 105.52M | 80.79M | 50.22M | 40.65M | 52.98M |
| Short Term Investments | 248.17M | 263.9M | 290.15M | 301.15M | 394.04M | 276.5M | 239.47M | 209.29M | 170.85M | 136.47M | 128.54M | 148.01M |
| Total Investments | 5.01B | 5.12B | 5.03B | 4.84B | 4B | 3.92B | 3.53B | 3.26B | 2.45B | 2.25B | 1.99B | 1.86B |
| Investments Growth % | 3.34% | 1.68% | 3.89% | 21.01% | 2% | 11.1% | 8.33% | 32.9% | 8.93% | 13.46% | 6.63% | - |
| Long-Term Investments | 19.57B | 4.85B | 4.74B | 4.54B | 3.61B | 3.65B | 3.29B | 3.05B | 2.28B | 2.12B | 1.86B | 1.71B |
| Accounts Receivables | 16.79M | 18.39M | 18.17M | 15.14M | 10.62M | 11.87M | 9.81M | 10M | 6.54M | 5.6M | 4.92M | 4.49M |
| Goodwill & Intangibles | 100.59M | 104.3M | 106.67M | 120.21M | 111.23M | 99M | 92.99M | 100.68M | 34.59M | 33.92M | 26.63M | 5.49M |
| Goodwill | 59.04M | 59.04M | 59.04M | 69.8M | 69.8M | 69.8M | 69.8M | 78.47M | 13.5M | 13.37M | 13.37M | 3.19M |
| Intangible Assets | 41.55M | 45.26M | 47.63M | 50.41M | 41.43M | 29.2M | 23.18M | 22.22M | 21.09M | 20.55M | 13.27M | 2.31M |
| PP&E (Net) | 44.77M | 46.25M | 48.75M | 49.05M | 50.74M | 49.58M | 47.95M | 57.05M | 24.49M | 24.19M | 24.61M | 25.23M |
| Other Assets | 229.04M | 236.42M | 234.64M | 233.06M | 183.17M | 192.93M | 158.09M | 112.21M | 84M | 81.23M | 81.03M | 88.14M |
| Total Current Assets | 468.01M | 513.37M | 535.67M | 414.31M | 599.38M | 494.24M | 460.9M | 324.81M | 258.19M | 192.29M | 174.11M | 205.49M |
| Total Non-Current Assets | 5.14B | 5.24B | 5.13B | 4.95B | 3.95B | 3.99B | 3.6B | 3.33B | 2.43B | 2.26B | 1.99B | 1.84B |
| Total Assets | 5.61B | 5.75B | 5.67B | 5.36B | 4.55B | 4.48B | 4.06B | 3.65B | 2.68B | 2.45B | 2.16B | 2.04B |
| Asset Growth % | -2.36% | 1.5% | 5.75% | 17.7% | 1.56% | 10.46% | 11.11% | 36.06% | 9.66% | 13.18% | 5.94% | - |
| Return on Assets (ROA) | 0.46% | 0.48% | 0.29% | 0.92% | 1.3% | 1.05% | 0.47% | 0.36% | 0.4% | 0.26% | 0.27% | 0.13% |
| Accounts Payable | 5.2M | 6.58M | 5.25M | 2.33M | 1.08M | 1.26M | 1.67M | 1.61M | 518K | 545K | 546K | 576K |
| Total Debt | 439.65M | 516.55M | 568.46M | 434.96M | 89.87M | 183.13M | 388.04M | 553.74M | 290.37M | 275.12M | 249.6M | 329.6M |
| Net Debt | 236.6M | 285.48M | 341.11M | 336.94M | -104.85M | -22.74M | 176.42M | 448.21M | 209.57M | 224.9M | 208.95M | 276.62M |
| Long-Term Debt | 439.65M | 304.56M | 265.46M | 49.96M | 89.87M | 148.13M | 205.04M | 263.74M | 246.37M | 195.12M | 249.6M | 259.6M |
| Short-Term Debt | 0 | 212M | 303M | 385M | 0 | 35M | 183M | 290M | 44M | 80M | 0 | 70M |
| Other Liabilities | 90.41M | 104.24M | 123.02M | 115.78M | 100.54M | 96.7M | 60.55M | 55.14M | 36.81M | 38.51M | 30.11M | 28.13M |
| Total Current Liabilities | 4.5B | 4.77B | 4.7B | 4.58B | 3.68B | 3.54B | 3.13B | 2.98B | 2.06B | 1.89B | 1.69B | 1.57B |
| Total Non-Current Liabilities | 530.06M | 408.79M | 388.48M | 165.75M | 190.41M | 244.83M | 265.58M | 318.88M | 283.18M | 233.63M | 280.7M | 287.73M |
| Total Liabilities | 5.03B | 5.18B | 5.08B | 4.74B | 3.87B | 3.79B | 3.39B | 3.3B | 2.34B | 2.12B | 1.97B | 1.86B |
| Total Equity | 580.15M | 575.01M | 583.76M | 616.98M | 679.26M | 696.31M | 665.79M | 357.57M | 343.48M | 329.38M | 190.69M | 183.46M |
| Equity Growth % | -1.38% | -1.5% | -5.38% | -9.17% | -2.45% | 4.58% | 86.2% | 4.1% | 4.28% | 72.73% | 3.94% | - |
| Equity / Assets (Capital Ratio) | 10.34% | 9.99% | 10.3% | 11.51% | 14.92% | 15.53% | 16.4% | 9.79% | 12.79% | 13.45% | 8.82% | 8.98% |
| Return on Equity (ROE) | 4.56% | 4.73% | 2.68% | 7.03% | 8.51% | 6.58% | 3.57% | 3.25% | 3.08% | 2.28% | 3.08% | 1.4% |
| Book Value per Share | 14.37 | 13.87 | 13.44 | 13.09 | 13.18 | 12.82 | 11.95 | 6.31 | 6.13 | 5.71 | 3.31 | 3.18 |
| Tangible BV per Share | 11.88 | 11.35 | 10.99 | 10.54 | 11.02 | 11.00 | 10.28 | 4.53 | 5.51 | 5.12 | 2.84 | 3.09 |
| Common Stock | 598K | 598K | 598K | 596K | 585K | 584K | 584K | 327K | 327K | 321K | 0 | 0 |
| Additional Paid-in Capital | 491.25M | 489.53M | 486.5M | 483.03M | 469.93M | 464.18M | 460.23M | 152.16M | 147.06M | 144.42M | 0 | 0 |
| Retained Earnings | 380.14M | 373.86M | 359.66M | 356.44M | 325.7M | 277.31M | 237.36M | 219.09M | 207.59M | 197.21M | 191.28M | 183.88M |
| Accumulated OCI | -44.21M | -49.9M | -43.62M | -47.08M | -1.64M | 2.19M | 1.48M | -2.36M | -528K | -1.29M | -592K | -417K |
| Treasury Stock | -224.6M | -215.14M | -193.59M | -148.38M | -85.86M | -16.64M | -721K | -1.55M | -280K | 0 | 0 | 0 |
| Preferred Stock | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
CRE and auto concentration
According to recent quarterly filings, HarborOne's total assets have remained remarkably flat, hovering near $5.6 billion to $5.9 billion over the last ten quarters, which suggests a period of balance sheet consolidation rather than aggressive organic expansion or inorganic growth through M&A activity.
The lack of meaningful asset growth indicates that the bank is prioritizing capital preservation and risk management over market share acquisition in the current interest rate environment. This stagnation may reflect a strategic choice to avoid deploying capital into lower-yielding assets while funding costs remain elevated.
As reported in financial statements, the equity-to-assets ratio has remained consistently anchored at approximately 0.10 to 0.11, demonstrating a stable capital buffer that appears sufficient to absorb moderate credit shocks despite the inherent volatility present in the bank's specialized lending segments.
Maintaining a steady equity-to-assets ratio suggests that management is balancing shareholder return expectations with the need to maintain regulatory capital adequacy. Investors should monitor whether this capital level provides enough flexibility for future share repurchases if earnings volatility persists in the mortgage and auto portfolios.
Based on the provided balance sheet data, investment securities account for approximately $5.0 billion of the $5.6 billion total asset base, revealing a heavy reliance on the securities portfolio as the primary liquidity engine rather than a traditional loan-heavy banking model.
This high concentration in investment securities suggests that the bank's liquidity profile is sensitive to duration risk and market value fluctuations within the bond portfolio. Such a structure may limit the bank's ability to benefit from loan-driven net interest margin expansion compared to peers with more traditional loan-to-deposit compositions.
Analysis of the balance sheet structure indicates that the overwhelming dominance of investment securities, which represent nearly 90% of total assets, warrants further investigation into potential unrealized losses that could impair the bank's tangible book value if interest rates remain higher for longer.
While the bank appears adequately capitalized on a headline basis, the concentration in securities may mask underlying duration mismatches that are not immediately apparent in the equity-to-assets ratio. This structural reliance on securities rather than a diversified loan book may leave the bank vulnerable to liquidity constraints if market conditions force a rapid liquidation of these holdings.
Quick answers to the most common questions about buying HONE stock.
As of 2024, HarborOne Bancorp, Inc. (HONE) had total assets of $5.75B including $513.4M in current assets.
HarborOne Bancorp, Inc. (HONE) carries total debt of $516.6M. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
HarborOne Bancorp, Inc. (HONE) has total shareholders' equity (book value) of $575.0M ($13.87 book value per share). Book value represents the net worth of the company belonging to common stock holders.
HarborOne Bancorp, Inc. (HONE) reported a current ratio of 0.11x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.