HarborOne Bancorp officials celebrate the company's first day of trading on the NASDAQ stock exchange in August 2019. Image courtesy of NASDAQ.

Officials from HarborOne Bancorp, including CEO James W. Blake, kicked off the trading day in New York City Friday with the traditional ringing of the NASDAQ bell in Times Square.

HarborOne Bancorp, the bank holding company parent of HarborOne Bank, recently completed a second-step public offering. The company’s common stock began trading on the NASDAQ Global Select Market under the trading symbol “HONE” on Aug. 15.

“I’m extremely proud of the hard work of the talented professionals that make up HarborOne. Ringing the NASDAQ bell honors all of their accomplishments over the last several years,”  Blake said in a statement. “Along with members of our board and senior management team, we’re excited to have staff members representing several departments across the bank join us for this truly unique experience.”

HarborOne completed a partial initial public offering in 2016, and in July 2019 the bank’s holding company took the entire corporation public – providing access to additional capital for growth in commercial lending and other areas.

The bank first announced that it would go fully public in early March, a move that analysts expected to occur after HarborOne acquired Warwick, Rhode Island-based Coastway Bankin an all-cash deal valued at $125.6 million. Mark Fitzgibbons, an analyst at Sandler O’Neill, said in March 2018 that the all-cash deal would deplete HarborOne’s excess capital, and HarborOne actually had to raise $35 million in debt later in the year to complete the deal.

HarborOne Bank also plans to open its first Boston branch location at 64 Broad St. this fall, one of many banks trying to boost its branches in Boston. The new branch is attached to 20 Custom House St., which already houses a HarborOne Bank loan office. The Boston branch will feature comprehensive consumer and small business banking services, and along with the commercial lending team already established.

HarborOne Execs Ring NASDAQ Bell As IPO Completed

by Banker & Tradesman time to read: 1 min
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