The Board of Directors of HarborOne Bancorp, Inc. (the
“Company”) (NASDAQ: HONE), parent company of HarborOne Bank (the
“Bank”), today announced that James W. Blake will retire as Chief
Executive Officer effective May 18, 2022. Joseph F. Casey,
currently President and Chief Operating Officer, will continue to
hold the title of President, and will assume the role of CEO on May
19, 2022. Mr. Blake and Mr. Casey will continue to serve on the
Boards of both the Company and the Bank.
Mr. Blake is a fifty-year veteran of the community banking
industry. He joined HarborOne Bank – then known as Brockton Credit
Union – in 1993, and he has served as CEO since 1995. During his
tenure, Mr. Blake has overseen transformative change at the Bank,
including the conversion from a credit union to a bank in 2013, the
acquisition of Merrimack Mortgage Company, Inc. in 2015, the
Company’s minority stock offering in 2016, the acquisition of
Coastway Bancorp, Inc. in 2018, the completion of the second-step
conversion in 2019, and expansion of the Bank’s footprint into
Metro Boston beginning in 2019 and continuing with the December
2021 opening of new branches in Brighton, Brookline and Cambridge,
Massachusetts. Mr. Blake has served on the Community Depository
Institutions Advisory Council of the Federal Reserve Bank of
Boston. Since 2011, he has served as Chairman of the Signature
Healthcare Executive Business Council and the YMCA Foundation. He
also currently serves on the board of the Connecticut Online
Computer Center, a position he has held since 2003.
“Jim Blake has provided exceptional leadership throughout his
twenty-five years as CEO, growing the Bank’s assets from $458
million to over $4.5 billion,” said Michael J. Sullivan, Chairman
of the Board of the Company and the Bank. “With Jim at the helm, we
benefited from both organic growth and strategic acquisitions,
increasing our branch network from 7 locations in 1995 to 30 this
year. The Board would also like to extend its sincere appreciation
to Jim for his many years of service to the Bank and to the
communities that it calls home. We look forward to his continued
service on the Bank and Company Boards.”
Mr. Sullivan continued, “My fellow directors and I are pleased
that Joe Casey will be stepping in to succeed Jim as HarborOne
Bank’s next CEO. Joe understands and embodies the mission, culture
and values that have helped drive HarborOne Bank over more than a
century of service, growth and diversification. We are confident
that Joe is the right person to lead the Bank and drive further
growth and strong performance for all of our stakeholders.”
Mr. Casey joined the Bank in 2004 and was appointed President,
Chief Operating Officer, and Director in February 2017. Prior to
his current position, Mr. Casey held numerous positions at the
Bank, including Executive Vice President and Chief Financial
Officer from 2006 to 2015, and Senior Vice President and Chief
Financial Officer from 2004 to 2006. He is also committed to public
service, serving currently as the Chair of the Board of Directors
of the MetroSouth Chamber of Commerce, as well as a member of the
Board of Directors of the Old Colony YMCA and Chairman of its
Investment Committee.
Before joining HarborOne Bank, Mr. Casey was Vice President at
Seacoast Financial Services in New Bedford, Massachusetts, and
Senior Vice President, Chief Financial Officer and Treasurer at
Compass Bank for Savings in New Bedford, Massachusetts, from 2003
to 2004. Prior to that, Mr. Casey spent 17 years with Andover
Bancorp, Inc. in Andover, Massachusetts, holding various titles,
including Chief Financial Officer, Treasurer, Controller and
Internal Auditor.
“I couldn’t be more delighted that Joe has been named my
successor,” said Mr. Blake. “Consistent leadership is more
important than ever, and Joe has been an indispensable member of
the management team at HarborOne Bank for many years. Most
recently, he has proven his ability to lead in an ever-changing
environment. Joe brings a wealth of institutional knowledge, and a
strong commitment to the culture that has helped make the Bank
successful. His extensive banking and financial experience, as well
as his deep understanding of our customers, will be an invaluable
resource as he drives HarborOne Bank to continued growth and
positive results.”
Mr. Casey commented, “I am honored to be appointed CEO of this
outstanding bank and look forward to leading such a committed and
talented team of bankers. Together, we will maintain the Bank’s
unique culture and build upon its proud history as we work to
deliver sustainable growth in the years ahead.”
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 the Company’s 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. You
should 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.
About HarborOne Bancorp, Inc.
HarborOne Bancorp, Inc. is the holding company for HarborOne
Bank, a Massachusetts-chartered savings bank. HarborOne Bank serves
the financial needs of consumers, businesses, and municipalities
throughout Eastern Massachusetts and Rhode Island through a network
of 30 full-service branches located in Massachusetts and Rhode
Island, and a commercial lending office in each of Boston,
Massachusetts and Providence, Rhode Island. The Bank also provides
a range of educational services through “HarborOne U,” with content
and classes available on personal finance and small business
delivered virtually as well as at community locations throughout
Massachusetts and Rhode Island. HarborOne Mortgage, LLC, a
subsidiary of HarborOne Bank, is a full-service mortgage lender
with offices throughout Massachusetts, Rhode Island, and New
Hampshire and is licensed in seven additional states.
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Linda Simmons, EVP, CFO (508) 895-1379
HarborOne Bancorp (NASDAQ:HONE)
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