Harbor One takes advantage of tax reform

HarborOne Bank marked its first day as a publicly traded company with President and CEO James W. Blake ringing the opening bell on the floor of Nasdaq Global Select Market yesterday, a day after the Initial Purchase Offering was completed.

The Brockton-based bank recently reorganized into a mutual holding company under the name HarborOne Bancorp Inc., which now serves as the bank’s holding company. HarborOne also completed its stock offering, trading on the Nasdaq Global Select Market under the trading symbol “HONE.”

In connection with the closing, HarborOne Bancorp issued 17,281,034 shares of its common stock to HarborOne Mutual Bancshares, a newly formed Massachusetts mutual holding company. It also issued 385,450 shares to The HarborOne Foundation, a charitable foundation formed by HarborOne Bank, as well as 14,454,396 shares to subscribers allocated shares in the offering.

“For nearly 100 years our mission has not wavered: a total commitment to our customers, communities and colleagues,” Blake said in a statement. “As we continue to innovate and expand our business, listing on Nasdaq further validates our commitment to providing our clients with the best banking experience available.”

The bank, which holds $2.2 billion in assets, manages a network of 14 full-service branches, two limited service branches, a commercial loan office in Providence, Rhode Island, and a residential lending office in Westford.

HarborOne Begins Public Presence With Nasdaq Appearance

by Banker & Tradesman time to read: 1 min
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