What is HarborOne Bancorp Financial Strength?
HarborOne Bancorp has the Financial Strength Rank of 3. It displays poor financial strength and is likely in financial distress. Usually this is caused by too much debt for the company.
Warning Sign:
HarborOne Bancorp Inc displays poor financial strength. Usually, this is caused by too much debt for the company.
GuruFocus Financial Strength Rank measures how strong a company's financial situation is. It is based on these factors:
1. The debt burden that the company has as measured by its
Interest Coverage (current year). The higher, the better.
2. Debt to revenue ratio. The lower, the better.
3.
Altman Z-Score.
GuruFocus does not calculate HarborOne Bancorp's interest coverage with the available data.
HarborOne Bancorp's debt to revenue ratio for the quarter that ended in Mar. 2024 was 4.68.
Altman Z-Score does not apply to banks and insurance companies.
HarborOne Bancorp Financial Strength Calculation
GuruFocus Financial Strength Rank measures how strong a company's financial situation is. It is based on these factors
A company ranks high with financial strength is likely to withstand any business slowdowns and recessions.
1. The debt burden that the company has as measured by its Interest Coverage (current year). The higher, the better.
Note: If both Interest Expense and Interest Income are empty, while Net Interest Income is negative, then use Net Interest Income as Interest Expense.
Interest Coverage is a ratio that determines how easily a company can pay interest expenses on outstanding debt. It is calculated by dividing a company's Operating Income (EBIT) by its Interest Expense:
HarborOne Bancorp's Interest Expense for the
months ended in Mar. 2024 was $-36.3 Mil. Its Operating Income for the
months ended in Mar. 2024 was $0.0 Mil. And its Long-Term Debt & Capital Lease Obligation for the quarter that ended in Mar. 2024 was $754.4 Mil.
HarborOne Bancorp's Interest Coverage for the quarter that ended in Mar. 2024 is
The higher the ratio, the stronger the company's financial strength is.
2. Debt to revenue ratio. The lower, the better.
HarborOne Bancorp's Debt to Revenue Ratio for the quarter that ended in Mar. 2024 is
3. Altman Z-Score.
Z-Score model is an accurate forecaster of failure up to two years prior to distress. It can be considered the assessment of the distress of industrial corporations.
The zones of discrimination were as such:
When Z-Score is less than 1.81, it is in Distress Zones.
When Z-Score is greater than 2.99, it is in Safe Zones.
When Z-Score is between 1.81 and 2.99, it is in Grey Zones.
Altman Z-Score does not apply to banks and insurance companies.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
HarborOne Bancorp (HarborOne Bancorp) Business Description
Traded in Other Exchanges
Address
770 Oak Street, Brockton, MA, USA, 02301
HarborOne Bancorp Inc is a bank holding company. The company is engaged in providing financial services like accepting deposits, lending loans, online and mobile banking, cash management, credit cards, money market accounts, and wealth management. The Company has two reportable segments: HarborOne Bank and HarborOne Mortgage. The bank provides financial services to individuals and businesses online and through its 24 full-service branches located in Massachusetts and Rhode Island, one limited-service branch, and a commercial lending office in each of Boston, Massachusetts and Providence, Rhode Island.
Executives
| Joseph F Casey |
officer: President & COO |
C/O HARBORONE BANCORP, INC., 770 OAK STREET, BROCKTON MA 02301 |
| Michael James Sullivan |
director, officer: Chairman of the Board |
C/O HARBORONE BANCORP, INC., 770 OAK STREET, BROCKTON MA 02301 |
| Linda Simmons |
officer: Senior V.P., CFO |
6 VALLEY DRIVE, SOUTH DARTMOUTH MA 02748 |
| Brent W. Grable |
officer: SVP, CHIEF INFORMATION OFFICER |
HARBORONE BANCORP, INC., 770 OAK STREET, BROCKTON MA 02301 |
| Susan Bugnacki Stewart |
officer: CHIEF HUMAN RESOURCES OFFICER |
C/O HARBORONE BANCORP, INC., 770 OAK STREET, BROCKTON MA 02301 |
| Gordon Jezard |
director |
C/O HARBORONE BANCORP, INC., 770 OAK STREET, BROCKTON MA 02301 |
| Joseph E. Mcquade |
officer: Chief Enterprise Risk Officer |
C/O HARBORONE BANCORP, INC., 770 OAK STREET, BROCTON MA 02301 |
| Anne H. Margulies |
director |
C/O HENRY SCHEIN, INC., 135 DURYEA ROAD, MELVILLE NY 11747 |
| James W. Blake |
director, officer: CEO & Secretary |
C/O HARBORONE BANCORP, INC., 770 OAK STREET, BROCKTON MA 02301 |
| David E. Tryder |
officer: Senior V. P. - CMO |
C/O HARBORONE BANCORP, INC., 770 OAK STREET, BROCKTON MA 02301 |
| Barry R. Koretz |
director |
C/O HARBORONE BANCORP, INC., 770 OAK STREET, BROCKTON MA 02301 |
| Andreana Santangelo |
director |
C/O HARBORONE BANCORP, INC., 770 OAK STREET, BROCKTON MA 02301 |
| Kevin M. Hamel |
officer: Chief Information Officer |
C/O HARBORONE BANCORP, INC., 770 OAK STREET, BROCKTON MA 02301 |
| Inez Friedman-boyce |
officer: General Counsel |
C/O HARBORONE BANCORP, INC., 770 OAK STREET, BROCKTON MA 02301 |
| Mark T Langone |
officer: SVP-Chief Enterprise Risk Off |
|
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