2017 Summary Annual Report Momentum from vision. Dear Shareholders, Customers, and Employees: Our staff also donated over 3,400 hours of their time through our Caring Crew program, supporting those organizations that need a little human capital. And while we don’t do all of this work for any recognition, we’re First and foremost, thank you for your role in making 2017 certainly proud to be recognized as the southeast region’s a terrific year for HarborOne! Our financial performance #1 Community Bank. was strong, our work in the community was better than ever, and our customer satisfaction scores remained All of this is possible because of our staff. We are among some of the highest in the industry. These results fortunate to have such wonderful, dedicated, and caring demonstrate that our strategic plan is working, and we are individuals who come together to make us who we are… well positioned to face a highly competitive and dynamic for customers, for communities, and for each other. As financial services landscape. I’ve said on many occasions, and will continue to say, I’m so proud to lead such a strong team of professionals who As you’ll see in the enclosed financial performance work hard every day to make us the best bank that we snapshot, our decision several years ago to invest in can be. In 2017 we were honored to be recognized, for the our Commercial Lending business is paying off. Those ninth consecutive year as one of the “Top Places to Work” investments have enabled HarborOne to meet the growth in the Boston Globe’s annual survey. Our future is bright needs of a strong Massachusetts economy and fueled our because of the team that we have. net interest margin growth. I’m also quite pleased with our ability to continue to grow our core deposits, which Again, thank you for your role in making 2017 a strong provide the funding to support our loan growth. year for HarborOne. As we embark on 2018, I’ll share one of my favorite quotes that encapsulates our vision for the The financial results are important, but they are just one future…“A ship in harbor is safe, but that is not what way we measure success. Our work in the community ships are built for.” continues to define who we are as an organization and is the backbone of our strong reputation in the communities that we serve and call home. We are especially proud that this work has been recognized this year in the form of our “Outstanding” Community Reinvestment Act rating from the FDIC. In total, HarborOne contributed more than $855,000 to our communities through the HarborOne Foundation, donations to charities and non-profits, small business programs, and our ONECommunity Scholarship program, which provides $100,000 annually to high school seniors attending college or trade school. James W. Blake, President & CEO HarborOne Bancorp, Inc. Community Investment HarborOne Foundation made $224,500 in grants in Our Caring Crew engaged in over 3,400 hours of its first year of operation volunteer service. Highlights included: • Twenty organizations working in the areas of education, • Set Sail for School: In partnership with our colleagues housing, and basic needs received support to further from Merrimack Mortgage, we packed over 4,000 new their important work in local communities across backpacks full of school supplies for economically southeastern MA. disadvantaged children. HarborOne Bank, in addition, provided over $535,000 in financial and in-kind support to local non-profit and • Harvest for Hunger: We collected over 6,300 food items and donated $25,000 to area food programs. civic organizations including: HarborOne U continues to deliver education that • Greater Plymouth County United Way fuels future success • Old Colony YMCA • Signature Healthcare • Brockton Boys & Girls Club • Credit for Life Fairs and interactive classroom visits positively impacted over 3,500 area youth. We received an “Outstanding” Community The ONECommunity Scholarship Program awarded Reinvestment Act rating from the FDIC. $100,000 in college scholarships • In our second year of a $1 million pledge to help defray the cost of higher education, twenty exceptional high school seniors received scholarships of $5,000. Board of Directors HarborOne Bank Leadership Team Joseph F. Barry James W. Blake Gordon Jezard Edward F. Kent Barry R. Koretz James W. Blake, CEO Joseph F. Casey, President and COO Peter Makowiecki, President of HarborOne Mortgage H. Scott Sanborn, EVP, Commercial Lending Leo Donahue, SVP, Retail Wallace H. Peckham, III, CPA Wayne F. Dunn, SVP, Chief Technology Officer David P. Frenette, Esq. Dr. Timothy R. Lynch Michael J. Sullivan, Esq. Joseph F. Casey William Payne Corporators Thomas Andrade Shaynah Barnes Chris Baynes Jason Bourne Jane Callahan Thomas Carroll, Jr. Fred Clark Stephen Donahue Emanuel Gomes Michael Goodman Christopher Gibbons, SVP, Consumer Lending Mark Langone, SVP, Chief Enterprise Risk Officer David Reilly, SVP, Operations Linda Simmons, SVP, Chief Financial Officer Dave Tryder, SVP, Chief Marketing Officer Patricia Williams, SVP, Human Resources James Harrington Dr. James Heller Kim Hollon Richard Lawton, Esq. Vincent Marturano Wayne Matthews, Esq. John McCluskey, Esq. David Offutt Andrea Papadopoulos, Ph.D. Beverly Pavasaris Paula Peterson Neal Siskind, Esq. Kristin Stadelmann Richard Straczynski David Thomas Peter Vlaco Mary Waldron Brent Warren, Esq. Bancorp Performance Highlights Steady growth continued in many key areas. (*Dollars in thousands) Net Income* 2014 $2,570 Net Interest Margin (FTE Basis) 2015 2016 2017 2014 2015 2016 2017 $5,768 $5,931 2.39% 2.61% 2.85% 3.04% $10,379 $189,905 $335,954 $596,302 $764,942 $1,500,115 $1,691,212 $1,804,753 $2,013,738 2014 2015 2016 2017 2014 2015 2016 2017 Commercial and Commercial Real Estate Loans* Total Deposits* HONE Stock Performance 1 5 1 8 4 1 8 1 1 1 2 1 6 5 1 4 2 1 7 4 1 1 3 1 0 5 1 5 3 1 3 2 1 9 0 1 0 0 1 0 0 1 The selected financial data of the Company set forth in this report does not purport to be complete and should be read in conjunction with, and is qualified in its entirety by, the more detailed information appearing in the Company’s Form 10-K. HarborOne Bank Russell 2000 Index ValuePeriod Ending7/01/169/30/1612/31/163/31/176/30/179/30/1712/31/17 About HarborOne HarborOne Bancorp, Inc. is the holding company for HarborOne is a recognized leader in education, providing HarborOne Bank, the largest state-chartered co-operative a range of educational services through “HarborOne U,” bank in New England with $2.7 billion in assets. The Bank, with classes on small business, financial literacy, and established in 1917 as a state-chartered credit union, personal enrichment at campuses adjacent to our Brockton converted to a state-chartered co-operative bank on and Mansfield locations. In 2016, HarborOne made a 10-year, July 1, 2013. The Bank provides a variety of financial $1,000,000 commitment to supporting secondary education services to individuals and businesses online and through for high school seniors through the ONECommunity its fourteen full-service branches located in Abington, Scholarship Program. The Bank was named once again Attleboro, Bridgewater, Brockton, Canton, Easton, in 2017 to the Boston Globe’s Top Places To Work for the Mansfield, Middleboro, Plymouth, Randolph and Raynham, ninth consecutive year, and it won “Gold” in the region for Massachusetts and two limited-service bank offices in best community bank in the Reader’s Choice Awards of Brockton and Attleboro, Massachusetts, a commercial the Gatehouse Media publications. lending office in Providence, Rhode Island, and a loan office in Westford, Massachusetts. In 2015, the Bank acquired Merrimack Mortgage Company, LLC, a residential mortgage company headquartered in Manchester, New Hampshire, that maintains 34 offices in Massachusetts, New Hampshire, and Maine and is also licensed to lend in seven additional states. Beginning in the spring of 2018 it will operate under the name HarborOne Mortgage. 2017 9 TOP PLACES TO WORK YEARS RUNNING 2017 Follow us NMLS #459218 HarborOne Bank 770 Oak Street, Brockton, MA 02301 800-244-7592 or 508-895-1000