HarborOne Bancorp is the holding company for HarborOne Bank, a community bank headquartered in Brockton, Massachusetts, serving Eastern Massachusetts and Rhode Island through 30 branches and commercial lending offices in Boston and Providence. The core business is traditional community banking: taking in deposits and deploying that capital into loans. The loan portfolio is roughly split between commercial real estate (~47% of loans), consumer residential mortgages (~35%), C&I lending to small and mid-size businesses (~12%), and commercial construction (~5%). HarborOne targets small and mid-size borrowers, with typical loan sizes up to $30M. HarborOne makes money primarily through net interest income — the spread between interest earned on loans and interest paid on deposits and borrowings. The Bank funds its loan book primarily with customer deposits, supplemented by FHLB borrowings and brokered deposits. HarborOne also operates HarborOne Mortgage, a separate residential mortgage subsidiary with offices across New England, New Jersey, and Florida, which originates home purchase and refinance loans and sells the majority into the secondary market, earning gain-on-sale income. Mortgage banking revenue is cyclical, rising when rates fall and falling when rates rise. Beyond these two core revenue streams, HarborOne earns service fees and income from its bank-owned life insurance portfolio.