XML 31 R2.htm IDEA: XBRL DOCUMENT v3.23.1
Pay vs Performance Disclosure
12 Months Ended
Dec. 31, 2022
USD ($)
item
Dec. 31, 2021
USD ($)
item
Dec. 31, 2020
USD ($)
item
Pay vs Performance Disclosure [Table]      
Pay vs Performance [Table Text Block]

(in whole dollars, unless otherwise noted)

Investment Based on:

Average

Summary

Summary

Summary

Average

Peer Group

Compensation

Compensation

Compensation

Compensation

Compensation

Compensation

Total

Total

Tangible

Table Total

Table Total

Actually Paid

Actually Paid

Table Total for

Actually Paid to

Shareholder

Shareholder

Net Income

Book Value

Year

for First PEO

for Second PEO

to First PEO

to Second PEO

Non-PEO NEOs

Non-PEO NEOs

Return

Return

(in thousands)

Per Share

(a)

(b.1) (1)

(b.2) (2)

(c.1) (1)

(c.2) (2)

(d) (3)

(e) (3)

(f) (4)

(g) (5)

(h)

(i) (6)

2022

$

1,456,401

$

2,648,731

$

1,467,492

$

1,873,309

$

665,848

$

649,588

$

132.19

$

99.14

$

45,589

$

11.13

2021

$

3,080,857

$

N/A

$

3,093,059

$

N/A

$

947,669

$

1,181,004

$

137.83

$

121.96

$

58,517

$

11.57

2020

$

2,143,883

$

N/A

$

1,785,584

$

N/A

$

1,010,159

$

1,135,032

$

99.80

$

95.30

$

44,792

$

10.88

(1)

Includes amounts from the Summary Compensation Table and Compensation Actually Paid to James W. Blake, former Chief Executive Officer of HarborOne Bank, for the years ended December 31, 2020, 2021, and 2022.

(2)

Includes amounts from the Summary Compensation Table and Compensation Actually Paid to Joseph F. Casey for the year ended December 31, 2022.

(3)

The non-principal executive officer (PEO) named executive officers (NEOs) reflected in columns (d) and € represent the following individuals; for 2022: Linda H. Simmons, H. Scott Sanborn, Brenda C. Diepold, and David B. Reilly, for 2021: Joseph F. Casey, Linda H. Simmons, H. Scott Sanborn and Inez H. Friedman-Boyce; and for 2020: Joseph F. Casey and Linda H. Simmons.

(4)

Reflects the cumulative total shareholder return of HarborOne Bank over the three-year period. The reporting is based on a theoretical $100 invested as of the last day of 2019 and valued as of the last trading day of 2020, 2021, and 2022.

(5)

Reflects the cumulative total shareholder return of the S&P 600 Thrifts & Mortgage Finance Index (“S&P 600”). S&P 600 is the peer group used by HarborOne Bank for purposes of Item 201(e) of Regulation S-K under the Exchange Act in our Annual Report on Form 10-K for the year ended December 31, 2022.

(6)

Tangible Book Value per Share is a non-GAAP ratio that is calculated by dividing total stockholders’ equity less goodwill and intangible assets by common stock outstanding.

   
Company Selected Measure Name Tangible Book Value per Share    
Named Executive Officers, Footnote [Text Block]

(1)

Includes amounts from the Summary Compensation Table and Compensation Actually Paid to James W. Blake, former Chief Executive Officer of HarborOne Bank, for the years ended December 31, 2020, 2021, and 2022.

(3)

The non-principal executive officer (PEO) named executive officers (NEOs) reflected in columns (d) and € represent the following individuals; for 2022: Linda H. Simmons, H. Scott Sanborn, Brenda C. Diepold, and David B. Reilly, for 2021: Joseph F. Casey, Linda H. Simmons, H. Scott Sanborn and Inez H. Friedman-Boyce; and for 2020: Joseph F. Casey and Linda H. Simmons.

   
Peer Group Issuers, Footnote [Text Block]

(5)

Reflects the cumulative total shareholder return of the S&P 600 Thrifts & Mortgage Finance Index (“S&P 600”). S&P 600 is the peer group used by HarborOne Bank for purposes of Item 201(e) of Regulation S-K under the Exchange Act in our Annual Report on Form 10-K for the year ended December 31, 2022.

   
Adjustment To PEO Compensation, Footnote [Text Block]

Calculation of Compensation Actually Paid

To calculate the CAP amounts in the table above, the following adjustments were made to Total Compensation as reported in the Summary Compensation Table for each covered year:

2022

2021

2020

Average

Average

Average

First PEO

Second PEO

Non-PEO NEOs

First PEO

Non-PEO NEOs

First PEO

Non-PEO NEOs

Total Compensation from Summary Compensation Table

$ 1,456,401

$ 2,648,731

$ 665,848

$ 3,080,857

$ 947,669

$ 2,143,883

$ 1,010,159

Amount deducted for aggregate change in actuarial present value from SCT

(1,004,270)

(800,591)

(97,153)

Amount deducted for grant date values in the SCT

(445,954)

(391,896)

(112,807)

(492,722)

(150,905)

(468,468)

(194,733)

Amount included for service costs related to the SERP

257,565

139,232

255,401

Amount included for year-end fair value of unvested awards granted in the current year

25,201

377,166

106,533

611,883

213,041

550,602

228,875

Amount included (+ or -) for year-over-year difference of year-end fair values for unvested awards granted in prior years

(17,904)

(8,772)

429,408

68,297

(112,109)

(28,536)

Amount included (+ or -) for difference in fair values between prior year-end fair values and vest date fair values for awards granted in prior years

431,844

3,917

(1,214)

264,224

60,823

(328,324)

(136,134)

Total Adjustments

$ 457,045

$ 620,744

$ 96,547

$ 1,305,515

$ 481,393

$ 110,169

$ 319,606

Compensation Actually Paid (as calculated)

$ 1,467,492

$ 1,873,309

$ 649,588

$ 3,093,059

$ 1,181,004

$ 1,785,584

$ 1,135,032

   
Non-PEO NEO Average Total Compensation Amount $ 665,848 $ 947,669 $ 1,010,159
Non-PEO NEO Average Compensation Actually Paid Amount $ 649,588 1,181,004 1,135,032
Adjustment to Non-PEO NEO Compensation Footnote [Text Block]

Calculation of Compensation Actually Paid

To calculate the CAP amounts in the table above, the following adjustments were made to Total Compensation as reported in the Summary Compensation Table for each covered year:

2022

2021

2020

Average

Average

Average

First PEO

Second PEO

Non-PEO NEOs

First PEO

Non-PEO NEOs

First PEO

Non-PEO NEOs

Total Compensation from Summary Compensation Table

$ 1,456,401

$ 2,648,731

$ 665,848

$ 3,080,857

$ 947,669

$ 2,143,883

$ 1,010,159

Amount deducted for aggregate change in actuarial present value from SCT

(1,004,270)

(800,591)

(97,153)

Amount deducted for grant date values in the SCT

(445,954)

(391,896)

(112,807)

(492,722)

(150,905)

(468,468)

(194,733)

Amount included for service costs related to the SERP

257,565

139,232

255,401

Amount included for year-end fair value of unvested awards granted in the current year

25,201

377,166

106,533

611,883

213,041

550,602

228,875

Amount included (+ or -) for year-over-year difference of year-end fair values for unvested awards granted in prior years

(17,904)

(8,772)

429,408

68,297

(112,109)

(28,536)

Amount included (+ or -) for difference in fair values between prior year-end fair values and vest date fair values for awards granted in prior years

431,844

3,917

(1,214)

264,224

60,823

(328,324)

(136,134)

Total Adjustments

$ 457,045

$ 620,744

$ 96,547

$ 1,305,515

$ 481,393

$ 110,169

$ 319,606

Compensation Actually Paid (as calculated)

$ 1,467,492

$ 1,873,309

$ 649,588

$ 3,093,059

$ 1,181,004

$ 1,785,584

$ 1,135,032

   
Compensation Actually Paid vs. Total Shareholder Return [Text Block]

Graphic

Graphic

   
Compensation Actually Paid vs. Net Income [Text Block]

   
Tabular List [Table Text Block]

Tabular List of Performance Measures

The six performance measures listed below represent the most important metrics the Company used to align pay and performance and to determine compensation paid in 2022, as further described in our Compensation Discussion and Analysis (CD&A) within the sections titled “Annual Incentive Plan” and “Long-Term Incentives”:

Most Important Performance Measures

Application in 2022 Compensation

Tangible Book Value Per Share

Long-Term Incentive Plan

Relative Total Shareholder Return

Long-Term Incentive Plan

Return On Assets

Annual Incentive Plan

Earnings Per Share

Annual Incentive Plan

Core Deposit Growth

Annual Incentive Plan

Commercial and Small Business Loan Growth

Annual Incentive Plan

   
Total Shareholder Return Amount $ 132.19 137.83 99.80
Peer Group Total Shareholder Return Amount 99.14 121.96 95.30
Net Income (Loss) $ 45,589,000 $ 58,517,000 $ 44,792,000
Company Selected Measure Amount | item 11.13 11.57 10.88
Measure [Axis]: 1      
Pay vs Performance Disclosure [Table]      
Measure Name Tangible Book Value Per Share    
Non-GAAP Measure Description [Text Block]

(6)

Tangible Book Value per Share is a non-GAAP ratio that is calculated by dividing total stockholders’ equity less goodwill and intangible assets by common stock outstanding.

   
Measure [Axis]: 2      
Pay vs Performance Disclosure [Table]      
Measure Name Relative Total Shareholder Return    
Measure [Axis]: 3      
Pay vs Performance Disclosure [Table]      
Measure Name Return On Assets    
Measure [Axis]: 4      
Pay vs Performance Disclosure [Table]      
Measure Name Earnings Per Share    
Measure [Axis]: 5      
Pay vs Performance Disclosure [Table]      
Measure Name Core Deposit Growth    
Measure [Axis]: 6      
Pay vs Performance Disclosure [Table]      
Measure Name Commercial and Small Business Loan Growth    
James W. Blake      
Pay vs Performance Disclosure [Table]      
PEO Total Compensation Amount $ 1,456,401 $ 3,080,857 $ 2,143,883
PEO Actually Paid Compensation Amount $ 1,467,492 3,093,059 1,785,584
PEO Name James W. Blake    
Joseph F. Casey      
Pay vs Performance Disclosure [Table]      
PEO Total Compensation Amount $ 2,648,731    
PEO Actually Paid Compensation Amount $ 1,873,309    
PEO Name Joseph F. Casey    
PEO [Member] | James W. Blake | Amount deducted for aggregate change in actuarial present value from SCT      
Pay vs Performance Disclosure [Table]      
Adjustment to Compensation Amount   (800,591)  
PEO [Member] | James W. Blake | Amount deducted for grant date values in the SCT      
Pay vs Performance Disclosure [Table]      
Adjustment to Compensation Amount $ (445,954) (492,722) (468,468)
PEO [Member] | James W. Blake | Amount included for year-end fair value of unvested awards granted in the current year      
Pay vs Performance Disclosure [Table]      
Adjustment to Compensation Amount 25,201 611,883 550,602
PEO [Member] | James W. Blake | Amount included (+ or -) for year-over-year difference of year-end fair values for unvested awards granted in prior years      
Pay vs Performance Disclosure [Table]      
Adjustment to Compensation Amount   429,408 (112,109)
PEO [Member] | James W. Blake | Amount included (+ or -) for difference in fair values between prior year-end fair values and vest date fair values for awards granted in prior years      
Pay vs Performance Disclosure [Table]      
Adjustment to Compensation Amount 431,844 264,224 (328,324)
PEO [Member] | James W. Blake | Total Adjustments      
Pay vs Performance Disclosure [Table]      
Adjustment to Compensation Amount 457,045 1,305,515 110,169
PEO [Member] | Joseph F. Casey | Amount deducted for aggregate change in actuarial present value from SCT      
Pay vs Performance Disclosure [Table]      
Adjustment to Compensation Amount (1,004,270)    
PEO [Member] | Joseph F. Casey | Amount deducted for grant date values in the SCT      
Pay vs Performance Disclosure [Table]      
Adjustment to Compensation Amount (391,896)    
PEO [Member] | Joseph F. Casey | Amount included for service costs related to the SERP      
Pay vs Performance Disclosure [Table]      
Adjustment to Compensation Amount 257,565    
PEO [Member] | Joseph F. Casey | Amount included for year-end fair value of unvested awards granted in the current year      
Pay vs Performance Disclosure [Table]      
Adjustment to Compensation Amount 377,166    
PEO [Member] | Joseph F. Casey | Amount included (+ or -) for year-over-year difference of year-end fair values for unvested awards granted in prior years      
Pay vs Performance Disclosure [Table]      
Adjustment to Compensation Amount (17,904)    
PEO [Member] | Joseph F. Casey | Amount included (+ or -) for difference in fair values between prior year-end fair values and vest date fair values for awards granted in prior years      
Pay vs Performance Disclosure [Table]      
Adjustment to Compensation Amount 3,917    
PEO [Member] | Joseph F. Casey | Total Adjustments      
Pay vs Performance Disclosure [Table]      
Adjustment to Compensation Amount 620,744    
Non-PEO NEO [Member] | Amount deducted for aggregate change in actuarial present value from SCT      
Pay vs Performance Disclosure [Table]      
Adjustment to Compensation Amount   (97,153)  
Non-PEO NEO [Member] | Amount deducted for grant date values in the SCT      
Pay vs Performance Disclosure [Table]      
Adjustment to Compensation Amount (112,807) (150,905) (194,733)
Non-PEO NEO [Member] | Amount included for service costs related to the SERP      
Pay vs Performance Disclosure [Table]      
Adjustment to Compensation Amount   139,232 255,401
Non-PEO NEO [Member] | Amount included for year-end fair value of unvested awards granted in the current year      
Pay vs Performance Disclosure [Table]      
Adjustment to Compensation Amount 106,533 213,041 228,875
Non-PEO NEO [Member] | Amount included (+ or -) for year-over-year difference of year-end fair values for unvested awards granted in prior years      
Pay vs Performance Disclosure [Table]      
Adjustment to Compensation Amount (8,772) 68,297 (28,536)
Non-PEO NEO [Member] | Amount included (+ or -) for difference in fair values between prior year-end fair values and vest date fair values for awards granted in prior years      
Pay vs Performance Disclosure [Table]      
Adjustment to Compensation Amount (1,214) 60,823 (136,134)
Non-PEO NEO [Member] | Total Adjustments      
Pay vs Performance Disclosure [Table]      
Adjustment to Compensation Amount $ 96,547 $ 481,393 $ 319,606