Market Overview

HarborOne Bancorp, Inc. Completes Private Placement of $35 Million of Subordinated Notes


HarborOne Bancorp, Inc. (the "Company"), Brockton, MA (NASDAQ:HONE),
the holding company for HarborOne Bank (the "Bank") today announced the
completion of its private placement of $35 million in fixed-to-floating
rate subordinated notes due 2028 (the "Notes"). The Notes bear a fixed
rate of 5.625% for the first five years and will reset quarterly
thereafter to the then current three-month LIBOR rate plus 278 basis
points. The Notes were assigned an investment grade rating of BBB+ by
Egan-Jones Ratings Company.

The Company intends to use the net proceeds from the offering for
general corporate purposes, including improving the liquidity position
at the holding company and bank subsidiary. The Notes are intended to
qualify as Tier 2 capital for the Company for regulatory purposes and
the portion that the Company contributes to the Bank will qualify as
Tier 1 capital for the Bank.

FIG Partners, LLC and Sandler O'Neill + Partners, L.P. served as
placement agents for the offering. Goodwin Procter LLP served as legal
counsel to the Company and Hogan Lovells US LLP and Wilson Sonsini
Goodrich & Rosati served as legal counsel to the placement agents.

This press release is for informational purposes only and shall not
constitute an offer to sell, or the solicitation of an offer to buy the
Notes nor shall there be any sale in any jurisdiction in which such an
offer, solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such jurisdiction. The
indebtedness evidenced by the Notes is not a deposit and is not insured
by the Federal Deposit Insurance Corporation or any other government
agency or fund.

About HarborOne Bancorp, Inc.

HarborOne Bancorp, Inc. is the holding company for HarborOne Bank, the
largest co-operative bank in New England. HarborOne Bank serves the
financial needs of consumers, businesses, and municipalities throughout
Eastern Massachusetts through a network of 14 full-service branches, two
limited service branches, two commercial loan offices in Boston,
Massachusetts and Providence, Rhode Island, a residential lending office
in Westford, Massachusetts, and 13 free-standing ATMs. The Bank also
provides a range of educational services through "HarborOne U," with
classes on small business, financial literacy and personal enrichment at
two campuses located adjacent to our Brockton and Mansfield locations.
HarborOne Mortgage, LLC, a subsidiary of HarborOne Bank, is a
full-service mortgage lender with 34 offices in Massachusetts, New
Hampshire and Maine, and also does business in seven additional states.

Forward-Looking Statements

Certain statements herein constitute forward-looking statements within
the meaning of Section 27A of the Securities Act of 1933, as amended,
and Section 21E of the Exchange Act and are intended to be covered by
the safe harbor provisions of the Private Securities Litigation Reform
Act of 1995. Such statements may be identified by words such as
"believes," "will," "would," "expects," "project," "may," "could,"
"developments," "strategic," "launching," "opportunities,"
"anticipates," "estimates," "intends," "plans," "targets" and similar
expressions. These statements are based upon the current beliefs and
expectations of Company management and are subject to significant risks
and uncertainties. Actual results may differ materially from those set
forth in the forward-looking statements as a result of numerous factors.
Factors that could cause such differences to exist include, but are not
limited to, the ability of the Company and Coastway Bancorp, Inc.
("Coastway") to achieve the synergies and value creation contemplated by
the proposed acquisition; the Company and Coastway's ability to
successfully integrate operations in the proposed acquisition; the
effect of the announcement of the proposed acquisition on the ability of
Coastway to maintain relationships with its key partners, customers and
employees, and on its operating business generally; adverse conditions
in the capital and debt markets and the impact of such conditions on the
Company's business activities; changes in interest rates; competitive
pressures from other financial institutions; the effects of general
economic conditions on a national basis or in the local markets in which
the Company operates, including changes that adversely affect borrowers'
ability to service and repay the Company's loans; changes in the value
of securities in the Company's investment portfolio; changes in loan
default and charge-off rates; fluctuations in real estate values; the
adequacy of loan loss reserves; decreases in deposit levels
necessitating increased borrowing to fund loans and investments;
operational risks including, but not limited to, cybersecurity, fraud
and natural disasters; changes in government regulation; changes in
accounting standards and practices; the risk that goodwill and
intangibles recorded in the Company's financial statements will become
impaired; demand for loans in the Company's market area; the Company's
ability to attract and maintain deposits; risks related to the
implementation of acquisitions, dispositions, and restructurings; the
risk that the Company may not be successful in the implementation of its
business strategy; changes in assumptions used in making such
forward-looking statements and the risk factors described in the Annual
Report on Form 10 K and Quarterly Reports on Form 10 Q as filed with the
Securities and Exchange Commission (the "SEC"), which are available at
the SEC's website,
Should one or more of these risks materialize or should underlying
beliefs or assumptions prove incorrect, HarborOne Bancorp, Inc.'s actual
results could differ materially from those discussed. Readers are
cautioned not to place undue reliance on these forward-looking
statements, which speak only as of the date of this release. The Company
disclaims any obligation to publicly update or revise any
forward-looking statements to reflect changes in underlying assumptions
or factors, new information, future events or other changes, except as
required by law.

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