HarborOne Bancorp Nears Final Integration Milestone with Eastern Bank
HarborOne Bancorp is nearing the final stage of its operational merger with Eastern Bank, with a full systems migration scheduled for February 21, 2026. This integration will unify all banking and mortgage products onto Eastern Bank's platform, aiming for greater operational efficiency and a stronger regional presence. The acquisition has significantly expanded Eastern Bankshares' portfolio with an additional $4.5 billion in loans and $4.3 billion in deposits.
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Brockton bank to lay off corporate staff after merger with larger bank
Eastern Bank will lay off 75 former corporate employees of HarborOne Bank following their merger on November 1st. The layoffs, impacting corporate staff at HarborOne's Brockton building, will commence in February and continue through May. Eastern Bank plans to retain the former HarborOne corporate building for its operations and philanthropic activities.
Eastern Bankshares, Inc. and HarborOne Bancorp, Inc. Announce Merger to be Effective on November 1, 2025
Eastern Bankshares, Inc. and HarborOne Bancorp, Inc. announced that their merger closed on October 28, 2025, with an effective date for the merger of HarborOne into Eastern set for November 1, 2025. Joseph F. Casey and Michael J. Sullivan from HarborOne will join the boards of Eastern and Eastern Bank concurrently with the merger. HarborOne common stock will be delisted from NASDAQ on October 31, 2025.
Eastern Bankshares completes acquisition of HarborOne Bancorp
Eastern Bankshares, Inc. (NASDAQ:EBC) has completed its previously announced acquisition of HarborOne Bancorp, Inc. (NASDAQ:HONE), effective November 1, 2025. HarborOne shareholders received a mix of Eastern common stock and cash, expanding Eastern's presence in the New England region. This acquisition follows Eastern Bankshares exceeding analyst expectations in its Q3 2025 earnings and other recent significant activities.
Eastern Bankshares, Inc. Completes Merger with HarborOne Bancorp, Inc.
Eastern Bankshares, Inc. announced the completion of its merger with HarborOne Bancorp, Inc., effective shortly after midnight on November 1, 2025. Joseph F. Casey and Michael J. Sullivan have been appointed as directors for Eastern, and HarborOne common stock is to be delisted from NASDAQ after October 31, 2025. The results of merger consideration allocation and proration procedures are expected by November 3, 2025.
Eastern Bank completes merger with HarborOne
Eastern Bank has finalized its $490 million merger with Brockton-based HarborOne Bancorp Inc., marking its third acquisition in five years. This merger comes amid scrutiny from an activist investor who believes Eastern Bank is acquiring too many banks too quickly. The deal officially closed on November 1st.
Eastern Bankshares and HarborOne Bancorp Announce Merger
Eastern Bankshares, Inc. (EBC) and HarborOne Bancorp, Inc. (HONE) have announced the closing of their merger agreement, with the effective date for the merger of HarborOne with and into Eastern Bank scheduled for November 1, 2025. Joseph F. Casey and Michael J. Sullivan, former leaders of HarborOne, will join the boards of Eastern and Eastern Bank. HarborOne common stock is set to be delisted from NASDAQ following the close of trading on October 31, 2025.
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Eastern Bank’s Bob Rivers: We’re not for sale - The Boston Globe
Eastern Bank's executive chair, Bob Rivers, has publicly stated that the bank is not for sale, responding to a Florida-based hedge fund's accumulation of a nearly 3% stake. HoldCo Asset Management, the hedge fund, prefers Eastern Bank to stop its acquisitions, such as the upcoming purchase of HarborOne Bank, and instead sell itself to a larger institution. Following the news, Eastern Bank's shares rose 5.5%, making a potential acquisition more expensive.
HarborOne Bancorp Announces Nasdaq Delisting Plan - TipRanks
HarborOne Bancorp announced its plan to delist its common stock from the Nasdaq Global Select Market on October 31, 2025. This action is in anticipation of its merger with Eastern Bankshares, Inc., which is expected to be effective on November 1, 2025. Shareholders will have options to elect their preferred form of merger consideration in stock, cash, or a combination.
HarborOne Bancorp (HONE) to Release Earnings on Thursday - Defense World
HarborOne Bancorp (HONE) is scheduled to release its earnings on Thursday, October 16th, 2025. The company recently announced a quarterly dividend of $0.09 per share and has seen its stock performance fluctuate. Institutional investors and hedge funds have adjusted their positions in HONE, and analysts have set new price targets for the company.
Eastern and HarborOne Announce Approval of Proposed Merger
Eastern Bankshares, Inc. and HarborOne Bancorp, Inc. have jointly announced that they have received all necessary regulatory approvals for their proposed merger, initially announced on April 24, 2025. The merger is expected to close around November 1, 2025, creating a $30 billion community-focused organization that expands Eastern Bank's presence into Rhode Island. HarborOne Bank will operate as a division of Eastern Bank for approximately four months post-merger, with full integration of banking systems anticipated by late February 2026.
SEC filing of the week: Eastern Bank’s $490M merger with HarborOne close to completion
Eastern Bankshares Inc.'s $490 million merger with HarborOne Bancorp Inc. is nearing completion, with the distribution of election materials to HarborOne shareholders. Shareholders can choose to receive Eastern common stock, cash, or a combination, with the election deadline set for Oct. 31 and the merger expected to finalize on Nov. 1. This acquisition will strengthen Eastern Bank's presence in Greater Boston and expand into Rhode Island, adding HarborOne Bank's 30 banking centers to its network.
Eastern Bankshares, Inc. and HarborOne Bancorp, Inc. Announce Mailing of Stock/Cash Election Form
Eastern Bankshares, Inc. and HarborOne Bancorp, Inc. announced the mailing of election forms to HarborOne shareholders, allowing them to choose between Eastern common stock, cash, or a combination for their shares in the upcoming merger. The merger involves Eastern acquiring HarborOne and HarborOne Bank, with completion anticipated by October 31, 2025. Shareholders must make their election by the anticipated deadline of October 28, 2025, to receive their preferred merger consideration.
Eastern Bankshares, Inc. and HarborOne Bancorp, Inc. Announce Mailing of Stock/Cash Election Form
Eastern Bankshares, Inc. (EBC) and HarborOne Bancorp, Inc. (HONE) jointly announced that Eastern has distributed election materials to HarborOne shareholders. This allows shareholders to choose between Eastern common stock, cash, or a combination for their shares upon the completion of the previously announced merger between the two companies. The merger is anticipated to be effective November 1, 2025, subject to regulatory approvals.
HarborOne-Eastern Bank merger: Is your branch one of 13 slated to close?
Eastern Bank and HarborOne Bank plan to close 13 branches as part of their merger, pending regulatory approval. The branches are expected to begin closing in February 2026, consolidating locations where they are in close proximity. All combined branches will eventually be rebranded as Eastern Bank, and no layoffs of branch employees are planned, with job offers extended to those at closing locations.
HarborOne-Eastern Bank merger: Is your Brockton-area branch one of 13 slated to close?
As part of their merger, Eastern Bank and HarborOne Bank plan to close 13 branches, reducing their total locations in Massachusetts and Rhode Island to 126. The consolidations are expected to begin in February 2026, pending regulatory approval, and will primarily affect branches located close to one another. The article specifically mentions the closing of a Brockton Eastern Bank branch.
HarborOne Bancorp Sets $0.09 Per Share Dividend: Key Payment Dates Revealed for Q2 2025
HarborOne Bancorp, Inc. announced a quarterly cash dividend of $0.09 per share for Q2 2025. The dividend will be paid on July 23, 2025, to shareholders of record as of July 9, 2025. The announcement includes important forward-looking statements regarding potential risks and uncertainties, including those related to the pending merger with Eastern Bankshares, Inc.
Why Eastern Bank is merging with HarborOne
Eastern Bankshares Inc. plans to acquire Brockton-based HarborOne Bancorp Inc. for approximately $490 million. This merger involves Eastern paying HarborOne stockowners 25.2 million Eastern shares plus $99 million in cash.
Eastern to acquire HarborOne in $490 million deal in latest U.S. regional bank consolidation
Eastern Bankshares is set to acquire HarborOne Bancorp in a $490 million stock and cash deal, reflecting a trend of consolidation among U.S. regional banks. This merger aims to strengthen Eastern's presence in the Greater Boston area and expand into Rhode Island, providing increased scale and diversification in an uncertain market. Another significant bank consolidation involves Columbia Banking System acquiring Pacific Premier Bancorp for approximately $2 billion.
Eastern Bankshares to acquire HarborOne Bancorp in $490m stock and cash deal
Eastern Bankshares is set to acquire HarborOne Bancorp in a $490 million stock and cash deal, expanding Eastern Bankshares' footprint across New England. The merger agreement allows HarborOne Bancorp shareholders to elect either 0.765 shares of Eastern Bankshares common stock or $12 in cash per share, with an allocation mechanism ensuring a 75% to 85% stock consideration. The deal is expected to close in Q4 2025, pending regulatory and shareholder approvals.
Eastern Bankshares and HarborOne Bancorp To Merge
Eastern Bankshares, Inc. (Nasdaq: EBC) and HarborOne Bancorp (Nasdaq: HONE) have announced a definitive merger agreement wherein HarborOne will merge with Eastern in a stock and cash transaction valued at approximately $490 million. HarborOne shareholders will receive either 0.765 shares of Eastern common stock or $12.00 in cash per share. The merger is expected to close in Q4 2025, pending regulatory and HarborOne shareholder approvals, and aims to expand Eastern's presence in Greater Boston and Rhode Island.
HarborOne Bancorp Inc. (HONE) reports earnings
HarborOne Bancorp Inc. (HONE) reported its financial results for the fiscal year ended December 31, 2024, showing an increase in total assets to $5.75 billion and net income rising to $27.4 million, or $0.66 per diluted share. This improvement was driven by loan growth and a reduction in goodwill impairment charges, despite a decrease in net interest margin.
HarborOne names Dan Hagerty as RI commercial lending VP
HarborOne Bank has appointed Dan Hagerty as its new Vice President of commercial lending for the Rhode Island market. Hagerty brings previous experience from Citizens Bank to his role at HarborOne.
HarborOne provides $76.3 million to R.J. Kelly Co. for acquisition of 14 property New Hampshire portfolio
HarborOne Bank provided $76.3 million in financing to R.J. Kelly Co. for its $90 million acquisition of a 14-property industrial portfolio in Southern New Hampshire. This acquisition, which closed in August, is the largest single New Hampshire acquisition in R.J. Kelly Co.'s 71-year history. HarborOne Bank led a five-bank syndicate for the financing, highlighting a strong partnership in commercial real estate.
$11M refinancing secured for historic inns on Nantucket
JLL Capital Markets has successfully arranged an $11 million refinancing for the Anchor Inn and Greydon House, two historic luxury inns located in Nantucket, Massachusetts. The refinancing was secured for the borrower, Faros Properties, through HarborOne Bank. Senior Director Jonathan Schneider noted that independent hotels in leisure markets like Nantucket are highly attractive to lenders and investors due to strong lodging fundamentals and high barriers-to-entry.
Business Briefs: Marshall elected to MassCPAs board; McBride joins HarborOne Bank
Arthur Marshall, partner of assurance services at EY, has been elected to the Massachusetts Society of Certified Public Accountants (MassCPAs) Board of Directors. Concurrently, John McBride has joined HarborOne Bank as an institutional lending market leader, aiming to expand their lending portfolio in the not-for-profit sector. The article also mentions the upcoming Milford Regional Healthcare Foundation's 33rd annual Golf Classic.
Warwick police search for bank robbery suspect
Warwick police are searching for a suspect involved in a bank robbery that occurred on Friday afternoon at a Harbor One Bank on Warwick Avenue. The suspect, described as a tall white man, presented a note demanding cash but did not display a weapon before fleeing the scene. Authorities are asking anyone with information to contact the Warwick Police Department.
HarborOne CEO to retire, with No. 2 exec taking his place
HarborOne CEO James Blake, who has been in banking for five decades, is set to retire. Blake was instrumental in transforming the Massachusetts-based institution from a small credit union into a publicly traded bank with a presence in Rhode Island. His retirement will lead to the No. 2 executive taking his place.
HarborOne CEO to retire, with No. 2 exec taking his place
HarborOne CEO James Blake, who has been in banking for five decades, is set to retire. Blake transformed the Brockton-based institution from a small credit union into a publicly traded bank with a Boston presence. His retirement will lead to the No. 2 executive taking his place.
Mac Jones named new face of HarborOne Bank
New England Patriots quarterback Mac Jones has been named the new spokesperson for HarborOne Bank. This two-year agreement includes Jones appearing in various marketing and public relations activities, emphasizing his desire to support community causes in New England.
Patriots QB Mac Jones lands marketing deal with local bank
New England Patriots quarterback Mac Jones has signed a two-year marketing deal with HarborOne Bank, a Massachusetts-based bank with $4.61 billion in assets. Jones will appear in various advertising campaigns and make in-person appearances for the bank. HarborOne Bank cited Jones' work ethic and commitment to excellence as reasons for the partnership.
Pats QB Mac Jones signs marketing deal with HarborOne
New England Quarterback Mac Jones has signed a marketing deal with Brockton-based HarborOne Bank, becoming the bank's new spokesperson. This partnership links the Patriots' rookie QB with the local financial institution.
OR valedictorian receives HarborOne Bank scholarship
Old Rochester Regional High School valedictorian Katelyn Luong was awarded one of 20 HarborOne Bank scholarships. The $5,000 scholarship recognized her academic achievements and commitment to community. Luong, a Marion resident, plans to attend Northeastern University.
Old Colony YMCA goes virtual to raise money at 4th Annual Rise Up Gala
The Old Colony YMCA raised over $500,000 at its 4th Annual Rise Up Gala, the highest amount in the organization's history, despite being held virtually due to COVID-19. Proceeds will support critical services for children and families, with a particular focus on essential workers during the pandemic through child care, food distribution, and remote learning programs. The event featured appearances from notable figures like Billy Costa, Jason and Devin McCourty, and Charlie Coyle, and honored Jim Blake of HarborOne Bank and Sullivan Tire.
HarborOne Bank announces layoffs amid plans for new Boston branches
HarborOne Bank is laying off 10% of its 450-person workforce across Massachusetts and Rhode Island, impacting 43 employees. These layoffs coincide with the bank's plans to open new Boston-area branches and are attributed to the growing demand for online and mobile banking services over in-person branch services. The bank aims to realign its branch teams to focus on more complex sales and service needs.
Bridgewater residents receive college scholarships from HarborOne Bank
HarborOne Bank has awarded 20 college scholarships totaling $100,000 to high school seniors, including two Bridgewater residents, Anooshey Ikhlas and Stephanie Damish. This is part of their ONECommunity Scholarship Program, which aims to support academic excellence and community commitment. The bank has pledged $1 million over a 10-year period for college scholarships, making it the largest single scholarship program by any bank in Massachusetts.
Braintree student receives scholarship from HarborOne Bank
Karina Lam, a student at Braintree High School, received a $5,000 scholarship from HarborOne Bank's ONECommunity Scholarship Program to attend Tufts University. HarborOne Bank awarded a total of $100,000 in scholarships to 20 high school seniors, selected based on academic excellence and community commitment from a pool of 330 applicants. CEO James Blake emphasized the bank's commitment to supporting higher education and community success.
HarborOne Bank completes conversion and stock offering
HarborOne Bank's holding company, HarborOne Northeast Bancorp Inc., has completed its conversion to a fully public stock holding company and began trading stock on Nasdaq under the symbol "HONE." The company executed a $310.4 million public stock offering, selling over 31 million shares at $10 each, with preference given to eligible depositors and local residents due to oversubscription. This move follows the acquisition of Coastway Community Bank and establishes HarborOne as a public entity.
Brockton-based HarborOne going fully public with stock offering
HarborOne Bank, based in Brockton, is becoming a fully public company by offering up to 31,050,000 shares of common stock at $10 per share. This move follows a partial IPO in 2016 and is intended to provide capital for continued growth, including new locations, technology, and expanded products. Shares will first be offered to certain depositors and employees, with any remaining shares sold to the public, prioritizing residents of Massachusetts and Rhode Island.
HarborOne Bank names Goedken as senior VP and chief information officer
HarborOne Bank has appointed Brad Goedken as senior vice president and chief information officer, tasking him with overseeing the bank's "technology transformation." Goedken brings extensive experience in technology solutions and operational improvements, having held CIO roles at DiTech Originations, SunTrust Mortgage, Citi Auto Finance, and Bank of America Corp., among others. He holds degrees from Coe College, Creighton University, and the University of Iowa.
Abington High School graduate receives HarborOne Bank scholarship
HarborOne Bank has awarded 20 college scholarships totaling $100,000 to high school seniors as part of its ONECommunity Scholarship Program. Abington High School graduate Lauren Nelligan was among the recipients, receiving a $5,000 scholarship to attend Boston College. This initiative is part of the bank's commitment to award $1 million in scholarships over a 10-year period to support deserving students.
HarborOne tops list of fastest-growing Mass. banks
HarborOne has topped the list of fastest-growing banks in Massachusetts. The article notes that Bay State banks overall saw their lowest year-over-year increase since the beginning of the decade, highlighting HarborOne's growth as an anomaly in a slower market.
HarborOne Bank opens Stoughton branch amidst regional expansion
HarborOne Bank has opened a new branch in Stoughton, Massachusetts, marking the latest step in its regional expansion across Eastern Massachusetts and Rhode Island. The bank, now the largest state-chartered cooperative bank in New England with $3.7 billion in assets, emphasizes self-service technologies and cross-trained "Relationship Bankers" in its new Stoughton location. As part of its community commitment, HarborOne will donate $100 to the Old Colony YMCA for every new account opened at the Stoughton branch, up to $10,000.
Brockton-based bank HarborOne opens first office in Boston
HarborOne Bank, headquartered in Brockton, has opened its first Loan Production Office in downtown Boston, marking its expansion into the city. With $2.7 billion in assets and a Nasdaq listing, the bank aims to provide financial solutions for commercial, small business, and professional services, leveraging its significant growth in commercial lending. The new office, staffed by experienced professionals, will offer a range of services from commercial real estate financing to cash management.
Plymouth resident receives HarborOne Bank scholarship
Plymouth resident Steven Paul was awarded one of 20 HarborOne Bank scholarships as part of the bank's ONECommunity Scholarship Program, which provides $5,000 to high school seniors demonstrating academic excellence and community commitment. This initiative is part of HarborOne Bank's pledge to award $1 million in college scholarships over 10 years, making it the largest single scholarship program by a bank in the state. The scholarships aim to help students afford higher education amidst rising tuition costs.
Police: 57-year-old Rockland woman tries to rob downtown Brockton bank
A 57-year-old Rockland woman, Judy Fitzpatrick, was arrested for attempting to rob a HarborOne Bank in downtown Brockton. She initially approached a bank employee stating she was robbing the bank, then told an assistant manager she had a gun and demanded cash. Police arrived as she was receiving money, and she was apprehended, with over $6,000 returned to the bank.
HarborOne Bank spins off Merrimack Mortgage business, founds HarborOne Mortgage
HarborOne Bank is combining its internal mortgage operations with Merrimack Mortgage Company, which it acquired in 2015, to form a new wholly-owned subsidiary called HarborOne Mortgage. This move aims to streamline operations and capitalize on cross-selling opportunities for banking products in the New England region. The existing senior leadership team from Merrimack will manage the new HarborOne Mortgage.
HarborOne Bank consolidates mortgage operations
HarborOne Bank has consolidated its residential lending business with its wholly owned subsidiary, Merrimack Mortgage, creating a new entity named HarborOne Mortgage. This strategic move aims to streamline operations, manage the business more efficiently at scale, and capitalize on cross-sell opportunities for various banking products. The leadership team of Merrimack will remain unchanged, and the merger enhances HarborOne's presence in key New England lending markets.
