HarborOne Bank is having a busy week. The $2 billion bank this week outlined the details of its imminent stock offering and also announced a new addition to its commercial lending team to help boost its presence in the Merrimack Valley and southern New Hampshire.
Charles F. Zanazzi was named north market leader and tasked with expanding commercial lending in the region. He has more than 30 years of commercial lending experience and most recently worked for TD Wealth Management providing investment management and planning for business owners while coordinating the commercial banking needs of their companies. He’s also held commercial lending roles with Sovereign/First Essex Bank and BankBoston, as well as general auditing work with Deloitte, Haskins and Sells.
“Charles Zanazzi will be an excellent asset to HarborOne Bank as we introduce new customers in the Merrimack Valley and Southern New Hampshire to our brand and our lending expertise,” President and CEO James W. Blake said in a statement. “Commercial lending is integral to our growth strategy and our talented team is ready to work with area business owners to help them grow and develop.”
Since its 2013 conversion to a bank charter, HarborOne has steadily expanded its footprint beyond its hometown of Brockton. Last year, it made inroads into Rhode Island with a new commercial lending office in Providence and also acquired the Manchester, New Hampshire-based Merrimack Mortgage Co. Last month, it opened a residential lending office in Westford.
The bank and its proposed new holding company, HarborOne Bancorp Inc., also announced they received all the necessary regulatory approvals to begin its partial stock offering. The holding company will offer up to 12.5 million shares of common stock at $10 per share. HarborOne could raise as much as $121 million in the offering to fund new loan growth and expand its franchise, according to documents filed with the SEC.
The bank said that shares will be offered in a subscription offering first to certain depositors, second to certain tax-qualified employee benefit plans, and third to employees, officers and directors of HarborOne Bank and subsidiary, Merrimack Mortgage Co., and finally to the general public.
