HarborOne Bancorp, Inc. (HONE): Marketing Mix Analysis [Dec-2025 Updated]

You're looking at the final operational playbook for HarborOne Bancorp, Inc. right before the Eastern Bankshares merger finalized, which saw shareholders lock in a $12.00 cash consideration per share. Honestly, dissecting the four P's-Product, Place, Promotion, and Price-gives us a precise snapshot of the business they took into that transaction, which, as of Q2 2025, managed $5.8 B in assets and expanded its Net Interest Margin to 2.52%. Before the integration, understanding how they structured their offerings, where they distributed them across Massachusetts and Rhode Island, how they communicated their local value, and the rates they charged is crucial for valuing the franchise they built. Dig in below to see the exact marketing mix that defined their last chapter as an independent entity.

HarborOne Bancorp, Inc. (HONE) - Marketing Mix: Product

The product element for HarborOne Bancorp, Inc. centers on a comprehensive suite of financial services tailored for both individual consumers and commercial entities across its Massachusetts and Rhode Island footprint. This offering spans traditional banking products, specialized lending, and modern digital access points.

Comprehensive Retail and Commercial Deposit Accounts

HarborOne Bancorp, Inc. provides a full array of deposit solutions. For retail customers, this includes checking accounts featuring options like interest-bearing capabilities and overdraft protection, alongside savings accounts and money market accounts that offer tiered interest rates for larger balances. Commercial clients are served with dedicated business checking and savings accounts, plus treasury management services designed to optimize business cash flow.

The total deposit base reflected a specific size as of mid-2025. As of June 30, 2025, total deposits stood at $4.49 billion, a decrease from $4.62 billion the prior quarter. FDIC-insured deposits represented approximately 73% of total deposits at that date.

• Checking Accounts: Interest-bearing options and business-specific solutions.
• Savings Accounts: Tiered interest rates available.
• Certificates of Deposit (CDs): Competitive fixed rates with flexible terms.
• Money Market Accounts: For higher balance holders.

Residential Mortgage and Home Equity Lending

The bank supports housing finance through its lending activities, including residential mortgages and home equity products. HarborOne Mortgage, LLC, a subsidiary, is active in originating these loans across New England and other states.

Reviewing the loan portfolio composition from the first quarter of 2025 shows the relative weight of residential lending. Residential 1-4 family loans accounted for 31% of the total loan portfolio, which was valued at $4.8 billion at that quarter-end.

Commercial Real Estate and C&I (Commercial and Industrial) Loans

Commercial lending is a significant component of HarborOne Bancorp, Inc.'s product strategy, focusing on supporting small to medium-sized businesses. This includes term loans, lines of credit, and financing for commercial real estate ventures.

The breakdown of the loan portfolio as of the end of the first quarter of 2025 illustrates the focus on commercial segments:

In the quarter ending June 30, 2025, non-performing commercial real estate loans increased by $784,000 compared to the prior quarter, and non-performing commercial and industrial loans increased by $622,000. Total criticized and classified commercial loans were $193.7 million as of June 30, 2025.

Digital Banking Platform with Mobile Check Deposit and Bill Pay

HarborOne Bancorp, Inc. offers a digital banking platform accessible via desktop and mobile applications. This platform is designed for convenience, enabling core account management functions.

Specific digital service metrics reported for 2023 indicated a digital banking adoption rate for HarborOne customers at 63%. The user base included 48,000 mobile banking users and 72,000 online banking users, processing $214 million in digital transactions quarterly.

• Online Account Management: Full access to account details.
• Bill Pay: Electronic payment functionality.
• Funds Transfers: Moving money between accounts.
• Mobile Check Deposit: Remote deposit capture capability.
• Digital Wallet Integration: Connectivity with mobile payment systems.

Wealth Management and Investment Services for High-Net-Worth Clients

Through its affiliate, HarborOne Wealth Management, the company provides personalized financial advisory services. These services are structured to help clients manage and grow their wealth over the long term.

The services offered include investment management, retirement planning, estate planning, and fiduciary services. While specific Assets Under Management (AUM) for HarborOne Wealth Management as of late 2025 were not explicitly detailed in the latest reports, the context of the pending merger noted that the acquiring entity's wealth division had $8.7 billion in assets under management as of June 30, 2025.

You should review the Q3 2025 filings when they become available to see the latest AUM figures for HarborOne Wealth Management specifically, especially given the merger timeline. Finance: draft 13-week cash view by Friday.

HarborOne Bancorp, Inc. (HONE) - Marketing Mix: Place

Place, or distribution, for HarborOne Bancorp, Inc. as of late 2025 reflects the final operational footprint before the full integration following its combination with Eastern Bankshares, Inc., effective November 1, 2025. The distribution strategy centered on a dense physical presence in its core New England market, supplemented by robust digital access channels.

Physical branch network concentrated in Massachusetts and Rhode Island.

The distribution of HarborOne Bank's physical service points was intentionally concentrated within Eastern Massachusetts and Rhode Island, supporting its community bank focus. As of the period leading up to the merger, HarborOne Bank operated a network that included both full-service branches and specialized commercial lending offices.

The network composition immediately prior to the November 1, 2025, merger was:

Extensive ATM network, often part of a surcharge-free alliance.

Access to cash was facilitated through deposit-taking ATMs located at banking centers and stand-alone locations. As of December 31, 2022, the network included five stand-alone ATM locations in Massachusetts, in addition to the ATMs integrated within the branch structure. Post-merger on November 1, 2025, HarborOne customers gained immediate access to use any Eastern Bank ATM free of charge for cash withdrawals, effectively expanding the surcharge-free network instantly. Certain checking products, like i-Checking, offered free non-HarborOne ATM transactions/inquiry up to a specified limit or under certain conditions. For example, the CheckIT account offered free ATM withdrawals for the first 8 transactions on that specific account type per statement cycle, subject to other rules.

Robust online and mobile banking channels for remote access.

Remote access was a critical component of the distribution strategy, allowing customers to manage accounts outside of physical branch hours. HarborOne provided a comprehensive digital banking platform accessible via desktop and mobile applications. This included features like online account management, bill pay, funds transfers, and mobile check deposit. The i-Checking account specifically targeted customers who actively use these electronic tools. While specific 2025 adoption rates aren't on hand, industry trends show a significant majority of consumers prefer managing accounts via mobile app or computer.

• Online account management and bill pay services.
• Mobile check deposit functionality.
• Digital wallet integration supporting Apple Pay™, Google Pay, or Samsung Pay.

Loan production offices focused on mortgage origination outside the core branch footprint.

The mortgage origination arm, HarborOne Mortgage, LLC, utilized a broader geographic distribution footprint to support loan production beyond the bank's primary deposit-gathering region. As of the end of 2022, this subsidiary leased offices across several states to facilitate this lending activity.

• HarborOne Mortgage, LLC leased 27 offices across Maine, Massachusetts, New Hampshire, New Jersey, and Rhode Island as of December 31, 2022.
• The subsidiary was licensed to originate mortgage loans in six additional states beyond those where it maintained leased offices.

HarborOne Bancorp, Inc. (HONE) - Marketing Mix: Promotion

Promotion for HarborOne Bancorp, Inc. centered on reinforcing its identity as a community-focused institution across Southern New England, even as its corporate structure was in transition late in 2025.

Community-focused advertising, emphasizing local commitment

HarborOne Bancorp, Inc. communicated its local commitment through initiatives like the 'Committed to Building ONE Community' platform. This messaging focused support on programs promoting education, basic human needs, healthy youth and families, and civic projects that improve local quality of life. The bank also provided educational resources via 'HarborOne U,' which offered free digital content, webinars, and recordings for small business and personal financial education. This educational outreach is a core part of their brand building. The bank operated through a network of 30 full-service banking centers across Massachusetts and Rhode Island.

A concrete example of this commitment was the 2025 ONECommunity Scholarship program, which awarded $100,000 in grants to 20 college-bound students from Massachusetts and Rhode Island, with each recipient receiving $5,000. This specific award concluded a 10-year commitment totaling $1 million in scholarships since the program's inception.

Digital marketing campaigns targeting specific loan products (e.g., mortgage refinancing)

Digital promotion involved leveraging online and mobile platforms to drive acquisition and engagement. The strategy integrated content marketing through 'HarborOne U' and direct response promotions on digital platforms. Active social media engagement on platforms like Facebook, LinkedIn, Instagram, and YouTube facilitated direct customer interaction. The bank's digital services included remote deposit capture, electronic bill payments, and cash management tools. To incentivize new business, HarborOne Bank ran specific online promotions, such as a $600 Bonus offer in June 2025 for new checking account openings contingent on meeting direct deposit and balance requirements.

While specific mortgage refinancing campaign spending isn't itemized, HarborOne Mortgage, LLC, a subsidiary, noted an 11.8% increase in year-over-year residential mortgage loan closings in the first quarter of 2025, suggesting successful marketing efforts in that area despite a dip in mortgage banking income that quarter.

Sponsorships of local events, charities, and community programs

The ONECommunity Scholarship was a major component of their community investment promotion. However, due to the merger with Eastern Bankshares, Inc. effective November 1, 2025, HarborOne Bank announced that it was no longer accepting requests for support for community sponsorships and donations, directing inquiries to the Eastern Bank Foundation. This indicates a shift in promotional focus for new community support initiatives late in the year.

Relationship-based selling through commercial lending officers

Relationship-based selling was supported by a physical presence designed for personalized service. HarborOne Bancorp maintained commercial lending offices in Boston, Massachusetts, and Providence, Rhode Island, to support business clients. The bank's strategy emphasized personalized customer relationships as a core differentiator.

The structure supporting this included a team of commercial lending officers facilitating business banking and lending solutions. The bank's overall deposit growth, which saw an increase of $79.6 million or 1.9% in deposits (excluding brokered deposits) in Q1 2025 over the prior quarter, reflects the success of these relationship-focused efforts alongside digital convenience.

Investor relations communications to maintain HONE stock visibility

Investor relations communications were active through the first three quarters of 2025 before the merger finalized. HarborOne Bancorp, Inc. announced its 2025 Annual Meeting of Shareholders for May 13, 2025, with a record date of March 14, 2025. The company also announced its second and third quarter 2025 dividends. Investor contacts were clearly provided for inquiries regarding merger materials, such as the proxy statement/prospectus. The stock, HONE, was delisted from the NASDAQ Global Select Market following the close of trading on October 31, 2025, in connection with the merger effective November 1, 2025.

Key financial metrics released in 2025 reports, which are central to investor communication, included:

The bank reported Q2 2025 EPS of $0.23, beating the consensus estimate of $0.19 by $0.04, with quarterly revenue at $45.44 million. The trailing Price-to-Earnings Ratio was 18.62.

The promotional strategy for investors was heavily influenced by the merger announcement, shifting communication to focus on the transaction logistics and the final dividend declarations.

• Community Scholarship Commitment: $1 million over 10 years (concluded in 2025).
• 2025 Scholarship Payout: $100,000 to 20 students.
• Checking Account Bonus Promotion: $600.
• Branch Network Size: 30 full-service centers.

Finance: finalize the Eastern Bank Foundation transition plan for community outreach by end of Q1 2026.

HarborOne Bancorp, Inc. (HONE) - Marketing Mix: Price

You're looking at how HarborOne Bancorp, Inc. (HONE) structured its pricing leading up to and immediately following its merger with Eastern Bankshares, Inc. effective November 1, 2025. Pricing in banking is all about the spread between what you pay for funds (deposits) and what you earn on assets (loans), plus the fees you charge for services. Since the merger closed in November 2025, some of these specific HarborOne pricing elements may have been immediately superseded by Eastern Bank's structure, but these figures reflect the final published strategies.

Tiered interest rates on deposit products to attract large balances.

HarborOne Bancorp, Inc. used tiered Annual Percentage Yields (APYs) on its Platinum Money Market (PMM) accounts, with rates effective as of November 13, 2025, to incentivize higher balances. This strategy aimed to secure low-cost, sticky funding. Here are the published tiers for the PMM product:

For Certificates of Deposit (CDs), which lock in rates, HarborOne Bancorp, Inc. offered promotional rates in late 2025 to drive term funding:

• 7 Month CD special for checking customers: 4.25% APY.
• 3 Month CD: 3.95% APY.
• 6 Month CD: 3.85% APY.
• 9 Month CD: 3.65% APY.

The cost of deposits was actively managed; for instance, core deposit costs fell 15 basis points in Q1 2025, excluding brokered deposits.

Variable and fixed-rate structures for commercial and consumer loans.

HarborOne Bank provided both fixed and variable rate options across its loan portfolio. Consumer lending included Home Equity Lines of Credit (HELOCs), which are inherently variable, alongside Home Equity Fixed Rate Loans. On the commercial side, the portfolio was weighted toward Commercial Real Estate (CRE) at 47% of the loan portfolio at quarter-end Q1 2025, with Commercial and Industrial (C&I) loans making up 13%. The bank's overall Net Interest Margin (NIM) improved to 2.52% in Q2 2025, partly due to higher loan yields.

Non-interest income generated from service fees and interchange.

Fee income was a component of total revenue, though subject to fluctuations. In Q1 2025, deposit account fees specifically saw a sequential decline of $871k, attributed partly to seasonal debit volumes. However, in Q2 2025, noninterest income increased by $2.3M quarter-over-quarter to reach $12.2M, which included stronger mortgage banking results and deposit fees. For the third quarter of 2025, total noninterest income was reported at $11.09M.

Competitive pricing on mortgage rates to drive origination volume.

The strategy involved offering competitive mortgage rates to maintain origination volume, even amid market headwinds. In Q2 2025, the bank achieved mortgage closings totaling $176.2M, generating a gain on sale of $3.378M. Customer feedback from closings in late 2025 indicated that the interest rates secured were Lower than expected for some 30-year fixed Conventional Loans. This suggests aggressive, competitive pricing was deployed to win business, even as mortgage banking noninterest income faced pressure, falling $3.8M quarter-over-quarter to $9.9M in Q1 2025.

Fee waivers or reduced fees for premium or relationship-based accounts.

Account structures included maintenance fees that could be waived based on maintaining a minimum balance, effectively creating a relationship-based pricing tier for core deposit products. For example, the Advantage Gold Checking account carried a $20.00 monthly maintenance service charge unless the combined average daily balance across linked accounts (Checking, Savings, Money Market, CDs) fell below $15,000.00. Similarly, the Remarkable Savings account had a $2.00 monthly maintenance service charge if the average daily balance stayed under $5,000.00.