HarborOne Bancorp Management

Management criteria checks 3/4

HarborOne Bancorp's CEO is Joe Casey, appointed in May 2018, has a tenure of 6.5 years. total yearly compensation is $2.87M, comprised of 24.4% salary and 75.6% bonuses, including company stock and options. directly owns 1.03% of the company’s shares, worth $5.50M. The average tenure of the management team and the board of directors is 6.2 years and 7.8 years respectively.

Key information

Joe Casey

Chief executive officer

US$2.9m

Total compensation

CEO salary percentage	24.4%
CEO tenure	6.5yrs
CEO ownership	1.0%
Management average tenure	6.2yrs
Board average tenure	7.8yrs

Recent management updates

Recent updates

HarborOne Bancorp's (NASDAQ:HONE) Dividend Will Be $0.08

Oct 03

HarborOne Bancorp (NASDAQ:HONE) Is Paying Out A Dividend Of $0.08

Jul 01

HarborOne Bancorp's (NASDAQ:HONE) Shareholders Will Receive A Bigger Dividend Than Last Year

Apr 05

HarborOne GAAP EPS of $0.21 misses by $0.01, revenue of $51.29M beats by $17.06M

Jul 26

HarborOne declares $0.07 dividend

Jun 30

HarborOne Bancorp (NASDAQ:HONE) Has Announced That It Will Be Increasing Its Dividend To US$0.07

Apr 03

CEO Compensation Analysis

How has Joe Casey's remuneration changed compared to HarborOne Bancorp's earnings?
Date	Total Compensation	Salary	Company Earnings
Sep 30 2024	n/a	n/a	US$11m
Jun 30 2024	n/a	n/a	US$16m
Mar 31 2024	n/a	n/a	US$16m
Dec 31 2023	US$3m	US$700k	US$16m
Sep 30 2023	n/a	n/a	US$33m
Jun 30 2023	n/a	n/a	US$38m
Mar 31 2023	n/a	n/a	US$41m
Dec 31 2022	US$3m	US$657k	US$46m
Sep 30 2022	n/a	n/a	US$49m
Jun 30 2022	n/a	n/a	US$47m
Mar 31 2022	n/a	n/a	US$51m
Dec 31 2021	US$2m	US$574k	US$59m
Sep 30 2021	n/a	n/a	US$64m
Jun 30 2021	n/a	n/a	US$63m
Mar 31 2021	n/a	n/a	US$59m
Dec 31 2020	US$1m	US$563k	US$45m
Sep 30 2020	n/a	n/a	US$31m
Jun 30 2020	n/a	n/a	US$27m
Mar 31 2020	n/a	n/a	US$21m
Dec 31 2019	US$1m	US$526k	US$18m
Sep 30 2019	n/a	n/a	US$14m
Jun 30 2019	n/a	n/a	US$13m
Mar 31 2019	n/a	n/a	US$11m
Dec 31 2018	US$1m	US$501k	US$11m
Sep 30 2018	n/a	n/a	US$13m
Jun 30 2018	n/a	n/a	US$10m
Mar 31 2018	n/a	n/a	US$10m
Dec 31 2017	US$3m	US$473k	US$10m

Compensation vs Market: Joe's total compensation ($USD2.87M) is above average for companies of similar size in the US market ($USD2.16M).

Compensation vs Earnings: Joe's compensation has been consistent with company performance over the past year.

CEO

Joe Casey (63 yo)

6.5yrs

Tenure

US$2,873,564

Compensation

Mr. Joseph F. Casey, also known as Joe, has been the Chief Operating Officer at HarborOne Bancorp, Inc. since 2015. He serves as President and Chief Operating Officer at Harborone Northeast Bancorp, Inc. a...

Leadership Team

Name	Position	Tenure	Compensation	Ownership
Joseph Casey	President	6.5yrs	US$2.87m	1.03% $ 5.5m
Inez Friedman-Boyce	Executive VP	5yrs	US$554.30k	0.078% $ 418.3k
Brenda Diepold	EVP & Chief Banking Officer	6.2yrs	US$528.12k	0.099% $ 528.4k
H. Sanborn	Executive VP & Chief Lending Officer	no data	US$688.24k	0.21% $ 1.1m
Stephen Finocchio	Executive VP & CFO	less than a year	no data	0.057% $ 304.6k
Paul Roukey	FVP & Interim Principal Accounting Officer	1.2yrs	no data	0.0019% $ 10.4k
Brent Grable	Senior VP & Chief Information Officer	no data	no data	0.0070% $ 37.3k
Jacqueline Mayo	Branch Administration Officer	14.6yrs	no data	no data
Andrea Carinci	Vice President of Compliance	no data	no data	no data
David Tryder	Senior VP & Chief Marketing Officer	10.8yrs	no data	0.073% $ 393.3k
Andy Puga	Business Solutions and Development Officer	10.3yrs	no data	no data
Susan B. Stewart	Senior VP & Chief Human Resources Officer	2.8yrs	no data	0.013% $ 70.7k

6.2yrs

Average Tenure

56yo

Average Age

Experienced Management: HONE's management team is seasoned and experienced (6.2 years average tenure).

Board Members

Name	Position	Tenure	Compensation	Ownership
Joseph Casey	President	7.8yrs	US$2.87m	1.03% $ 5.5m
William Payne	Independent Director	7.7yrs	US$99.23k	0.085% $ 453.5k
David Frenette	Independent Director	17.8yrs	US$114.60k	0.34% $ 1.8m
Barry Koretz	Independent Director	37.8yrs	US$114.26k	0.15% $ 806.7k
Alphonse Miskinis	Honorary Director	no data	no data	no data
Joseph Barry	Independent Director	37.8yrs	US$123.23k	0.15% $ 781.4k
Damian Wilmot	Independent Director	5.8yrs	US$99.32k	0.058% $ 311.0k
Timothy Lynch	Independent Director	13.8yrs	US$103.58k	0.15% $ 781.4k
Michael Sullivan	Independent Chairman of the Board	9.8yrs	US$132.05k	0.20% $ 1.0m
Mandy Berman	Independent Director	5.8yrs	US$99.32k	0.058% $ 311.5k
Andreana Santangelo	Independent Director	4.1yrs	US$109.32k	0.032% $ 171.2k
Anne Margulies	Independent Director	2.4yrs	US$99.23k	0.021% $ 110.4k

7.8yrs

Average Tenure

68yo

Average Age

Experienced Board: HONE's board of directors are considered experienced (7.8 years average tenure).

HarborOne Bancorp Management

Management criteria checks 3/4

Key information

Recent management updates

Senior VP & Chief Marketing Officer notifies of intention to sell stock

HarborOne Bancorp, Inc. and HarborOne Bank Appoint Stephen W. Finocchio as Chief Financial Officer

Gordon Jezard Notifies Harborone Bancorp, Inc. Not to Stand for Re-election as Board Member

HarborOne Bancorp, Inc., Annual General Meeting, May 15, 2024

Insufficient new directors

HarborOne Bancorp, Inc. Appoints Jean Levesque as Interim Chief Financial Officer

Recent updates

Consensus EPS estimates fall by 15%

Price target decreased by 10.0% to US$13.50

Second quarter 2024 earnings released: EPS: US$0.18 (vs US$0.17 in 2Q 2023)

Now 25% undervalued after recent price drop

HarborOne Bancorp, Inc. Reports Net Charge-Offs for the Third Quarter Ended September 30, 2024

HarborOne Bancorp's (NASDAQ:HONE) Dividend Will Be $0.08

Second quarter dividend of US$0.08 announced

HarborOne Bancorp, Inc. Declares Dividend for the Third Quarter of 2024, Payable on October 28, 2024

Senior VP & Chief Marketing Officer notifies of intention to sell stock

Consensus revenue estimates increase by 15%

Now 21% undervalued

Consensus EPS estimates increase by 13%

Price target increased by 18% to US$14.50

Investor sentiment improves as stock rises 18%

Now 20% undervalued

HarborOne Bancorp (NASDAQ:HONE) Is Paying Out A Dividend Of $0.08

First quarter dividend of US$0.08 announced

HarborOne Bancorp, Inc. Declares Second Quarter Cash Dividend, Payable on July 24, 2024

HarborOne Bancorp, Inc. (NasdaqGS:HONE) announces an Equity Buyback for 2,222,568 shares, representing 5% for $20 million.

Now 20% undervalued

HarborOne Bancorp, Inc. Reports Unaudited Net Charge Offs for the First Quarter Ended March 31, 2024

First quarter 2024 earnings released: EPS: US$0.17 (vs US$0.16 in 1Q 2023)

HarborOne Bancorp's (NASDAQ:HONE) Shareholders Will Receive A Bigger Dividend Than Last Year

Fourth quarter dividend increased to US$0.08

HarborOne Bancorp, Inc. and HarborOne Bank Appoint Stephen W. Finocchio as Chief Financial Officer

HarborOne Bancorp, Inc. Declares First Quarter 2024 Dividend, Payable on April 24, 2024

Full year 2023 earnings: EPS misses analyst expectations

Gordon Jezard Notifies Harborone Bancorp, Inc. Not to Stand for Re-election as Board Member

HarborOne Bancorp, Inc., Annual General Meeting, May 15, 2024

New minor risk - Earnings quality

Now 21% undervalued

Price target increased by 8.7% to US$12.50

Upcoming dividend of US$0.075 per share at 2.4% yield

HarborOne Bancorp (NASDAQ:HONE) Has Affirmed Its Dividend Of $0.075

HarborOne Bancorp, Inc. Declares Dividend for the Fourth Quarter 2023, Payable January 18, 2024

Now 20% undervalued

Insufficient new directors

Consensus EPS estimates increase by 11%

Third quarter 2023 earnings: EPS and revenues exceed analyst expectations

Upcoming dividend of US$0.075 per share at 3.1% yield

HarborOne Bancorp (NASDAQ:HONE) Is Due To Pay A Dividend Of $0.075

HarborOne Bancorp, Inc. Declares Quarterly Cash Dividend, to Be Paid on October 30, 2023

HarborOne Bancorp, Inc. Appoints Jean Levesque as Interim Chief Financial Officer

Now 21% undervalued

HarborOne Bancorp, Inc. and HarborOne Bank Announce Resignation of Linda H. Simmons as Executive Vice President and Principal Accounting Officer

HarborOne Bancorp, Inc. Reports Net Charge-Offs for the Second Quarter Ended June 30, 2023

Second quarter 2023 earnings: EPS exceeds analyst expectations

HarborOne Bancorp (NASDAQ:HONE) Will Pay A Dividend Of $0.075

Upcoming dividend of US$0.075 per share at 3.4% yield

Investor sentiment improves as stock rises 16%

President recently bought US$83k worth of stock

Investor sentiment deteriorates as stock falls 23%

Analysts Just Slashed Their HarborOne Bancorp, Inc. (NASDAQ:HONE) EPS Numbers

Now 23% undervalued after recent price drop

Price target decreased by 9.4% to US$12.83

Upcoming dividend of US$0.075 per share at 2.3% yield

HarborOne Bancorp's (NASDAQ:HONE) Dividend Will Be $0.075

Full year 2022 earnings: EPS misses analyst expectations

HarborOne Bancorp, Inc., Annual General Meeting, May 17, 2023

Consensus EPS estimates fall by 14%

HarborOne Bancorp, Inc. Announces Net Charge-Offs for the Quarter Ended December 31, 2022

Full year 2022 earnings: EPS misses analyst expectations

HarborOne Bancorp, Inc. Declares Fourth Quarter Cash Dividend, Payable on January 17, 2023

Senior VP & Human Resources Officer notifies of intention to sell stock

Independent Director exercised options and sold US$418k worth of stock

Consensus EPS estimates increase by 13%

Third quarter 2022 earnings: EPS and revenues exceed analyst expectations

Upcoming dividend of US$0.07 per share

HarborOne Bancorp, Inc. Declares Third Quarter Cash Dividend, Payable on October 26, 2022