HarborOne Bancorp, Inc., the holding company for HarborOne Bank, reported a net income of $8.1 million for the second quarter ending June 30, 2025, marking an increase of $2.6 million, or 46.5%, from the previous quarter's net income of $5.5 million. Earnings per diluted share rose to $0.20, up from $0.14 in the prior quarter. Over the first half of 2025, net income totaled $13.6 million, compared to $14.6 million over the same period in 2024. The company's net interest income increased by $1.7 million, reaching $33.2 million, with a net interest margin improvement of 13 basis points to 2.52% quarter-over-quarter. Noninterest income rose by $2.3 million, or 23.6%, to a total of $12.2 million, driven by gains in mortgage banking income and higher swap and deposit fee income. HarborOne Mortgage, LLC reported a $3.4 million gain on loan sales from mortgage closings in the second quarter, compared to $2.7 million in the first quarter. Noninterest expenses increased by $1.2 million, although they were slightly down when excluding $1.7 million in merger-related expenses. The share repurchase program has been suspended pending the completion of a merger with Eastern Bankshares, Inc., as announced on April 24, 2025. The merger will involve HarborOne merging into Eastern in a stock and cash transaction.
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