XML 51 R41.htm IDEA: XBRL DOCUMENT v3.20.2
SEGMENT REPORTING (Tables)
6 Months Ended
Jun. 30, 2020
SEGMENT REPORTING  
Summary of reportable segments

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​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Three Months Ended June 30, 2020

​

​

HarborOne

​

HarborOne

​

HarborOne

​

​

​

​

​

​

​

Bank

    

Mortgage

    

Bancorp, Inc.

​

Eliminations

    

Consolidated

​

​

(in thousands)

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Net interest and dividend income (expense)

​

$

29,139

​

$

739

​

$

(431)

​

$

—

​

$

29,447

Provision for loan losses

​

​

10,004

​

​

—

​

​

—

​

​

—

​

​

10,004

Net interest and dividend income (loss), after provision for loan losses

​

​

19,135

​

​

739

​

​

(431)

​

​

—

​

​

19,443

Mortgage banking income:

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Gain on sale of mortgage loans

​

​

—

​

​

30,862

​

​

—

​

​

—

​

​

30,862

Intersegment gain (loss)

​

​

(1,399)

​

​

1,399

​

​

—

​

​

—

​

​

—

Changes in mortgage servicing rights fair value

​

​

(490)

​

​

(621)

​

​

—

​

​

—

​

​

(1,111)

Other

​

​

346

​

​

3,764

​

​

—

​

​

—

​

​

4,110

Total mortgage banking income (loss)

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​

(1,543)

​

​

35,404

​

​

—

​

​

—

​

​

33,861

Other noninterest income (loss)

​

​

4,788

​

​

(11)

​

​

—

​

​

—

​

​

4,777

Total noninterest income

​

​

3,245

​

​

35,393

​

​

—

​

​

—

​

​

38,638

Noninterest expense

​

​

25,218

​

​

18,273

​

​

347

​

​

—

​

​

43,838

Income (loss) before income taxes

​

​

(2,838)

​

​

17,859

​

​

(778)

​

​

—

​

​

14,243

Provision (benefit) for income taxes

​

​

27

​

​

3,878

​

​

(237)

​

​

—

​

​

3,668

Net income (loss)

​

$

(2,865)

​

$

13,981

​

$

(541)

​

$

—

​

$

10,575

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​

​

​

​

​

​

​

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​

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​

​

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​

​

​

Six Months Ended June 30, 2020

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​

HarborOne

​

HarborOne

​

HarborOne

​

​

​

​

​

​

    

Bank

    

Mortgage

    

Bancorp, Inc.

​

Eliminations

    

Consolidated

​

​

(in thousands)

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Net interest and dividend income (expense)

​

$

55,649

​

$

1,020

​

$

(522)

​

$

—

​

$

56,147

Provision for loan losses

​

​

13,753

​

​

—

​

​

—

​

​

—

​

​

13,753

Net interest and dividend income (loss), after provision for loan losses

​

​

41,896

​

​

1,020

​

​

(522)

​

​

—

​

​

42,394

Mortgage banking income:

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Gain on sale of mortgage loans

​

​

—

​

​

43,140

​

​

—

​

​

—

​

​

43,140

Intersegment gain (loss)

​

​

(1,799)

​

​

1,799

​

​

—

​

​

—

​

​

—

Changes in mortgage servicing rights fair value

​

​

(1,660)

​

​

(3,838)

​

​

—

​

​

—

​

​

(5,498)

Other

​

​

697

​

​

5,984

​

​

—

​

​

—

​

​

6,681

Total mortgage banking income (loss)

​

​

(2,762)

​

​

47,085

​

​

—

​

​

—

​

​

44,323

Other noninterest income (loss)

​

​

13,314

​

​

(133)

​

​

—

​

​

—

​

​

13,181

Total noninterest income

​

​

10,552

​

​

46,952

​

​

—

​

​

—

​

​

57,504

Noninterest expense

​

​

49,506

​

​

29,079

​

​

641

​

​

—

​

​

79,226

Income (loss) before income taxes

​

​

2,942

​

​

18,893

​

​

(1,163)

​

​

—

​

​

20,672

Provision (benefit) for income taxes

​

​

1,628

​

​

4,117

​

​

(372)

​

​

—

​

​

5,373

Net income (loss)

​

$

1,314

​

$

14,776

​

$

(791)

​

$

—

​

$

15,299

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Total assets at period end

​

$

4,451,114

​

$

233,138

​

$

721,153

​

$

(940,499)

​

$

4,464,906

Goodwill at period end

​

$

59,042

​

$

10,760

​

$

—

​

$

—

​

$

69,802

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​

​

​

​

​

​

​

​

​

​

​

Three Months Ended June 30, 2019

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​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

HarborOne

​

HarborOne

​

HarborOne

​

​

​

​

​

​

    

Bank

    

Mortgage

    

Bancorp, Inc.

    

Eliminations

​

Consolidated

​

​

(in thousands)

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​

​

​

​

​

​

​

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​

​

​

​

​

​

​

​

​

​

​

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​

​

​

​

​

​

​

​

​

​

​

Net interest and dividend income

​

$

27,022

​

$

210

​

$

(519)

​

$

—

​

$

26,713

Provision for loan losses

​

​

1,750

​

​

—

​

​

—

​

​

—

​

​

1,750

Net interest and dividend income, after provision for loan losses

​

​

25,272

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​

210

​

​

(519)

​

​

—

​

​

24,963

Mortgage banking income:

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​

​

​

​

​

​

​

​

​

​

​

​

​

​

Gain on sale of mortgage loans

​

​

1

​

​

8,428

​

​

—

​

​

—

​

​

8,429

Intersegment gain (loss)

​

​

(314)

​

​

314

​

​

—

​

​

—

​

​

—

Changes in mortgage servicing rights fair value

​

​

(438)

​

​

(1,803)

​

​

—

​

​

—

​

​

(2,241)

Other

​

​

377

​

​

2,090

​

​

—

​

​

—

​

​

2,467

Total mortgage banking income

​

​

(374)

​

​

9,029

​

​

—

​

​

—

​

​

8,655

Other noninterest income

​

​

7,067

​

​

(4)

​

​

—

​

​

—

​

​

7,063

Total noninterest income

​

​

6,693

​

​

9,025

​

​

—

​

​

—

​

​

15,718

Noninterest expense

​

​

25,257

​

​

8,917

​

​

907

​

​

—

​

​

35,081

Income (loss) before income taxes

​

​

6,708

​

​

318

​

​

(1,426)

​

​

—

​

​

5,600

Provision (benefit) for income taxes

​

​

802

​

​

418

​

​

(401)

​

​

—

​

​

819

Net income (loss)

​

$

5,906

​

$

(100)

​

$

(1,025)

​

$

—

​

$

4,781

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Six Months Ended June 30, 2019

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

HarborOne

​

HarborOne

​

HarborOne

​

​

​

​

​

​

​

Bank

​

Mortgage

​

Bancorp Inc.

​

Eliminations

​

Consolidated

​

​

(in thousands)

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Net interest and dividend income (expense)

​

$

53,441

​

$

319

​

$

(1,017)

​

$

—

​

$

52,743

Provision for loan losses

​

​

2,607

​

​

—

​

​

—

​

​

—

​

​

2,607

Net interest and dividend income (loss), after provision for loan losses

​

​

50,834

​

​

319

​

​

(1,017)

​

​

—

​

​

50,136

Mortgage banking income:

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Gain on sale of mortgage loans

​

​

1

​

​

13,071

​

​

—

​

​

—

​

​

13,072

Intersegment gain (loss)

​

​

(473)

​

​

473

​

​

—

​

​

—

​

​

—

Changes in mortgage servicing rights fair value

​

​

(1,008)

​

​

(3,384)

​

​

—

​

​

—

​

​

(4,392)

Other

​

​

758

​

​

3,719

​

​

—

​

​

—

​

​

4,477

Total mortgage banking income (loss)

​

​

(722)

​

​

13,879

​

​

—

​

​

—

​

​

13,157

Other noninterest income (loss)

​

​

12,419

​

​

(16)

​

​

—

​

​

—

​

​

12,403

Total noninterest income

​

​

11,697

​

​

13,863

​

​

—

​

​

—

​

​

25,560

Noninterest expense

​

​

50,122

​

​

16,269

​

​

1,282

​

​

—

​

​

67,673

Income (loss) before income taxes

​

​

12,409

​

​

(2,087)

​

​

(2,299)

​

​

—

​

​

8,023

Provision (benefit) for income taxes

​

​

2,248

​

​

(427)

​

​

(646)

​

​

—

​

​

1,175

Net income (loss)

​

$

10,161

​

$

(1,660)

​

$

(1,653)

​

$

—

​

$

6,848

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Total assets at period end

​

$

3,736,515

​

$

144,935

​

$

405,776

​

$

(549,802)

​

$

3,737,424

Goodwill at period end

​

$

58,875

​

$

10,760

​

$

—

​

$

—

​

$

69,635