HarborOne Bancorp in Brockton, Mass., reported lower quarterly profit due to an issue with a commercial real estate loan.
The $5.8 billion-asset company said in a press release that its third-quarter earnings fell by 54% from a year earlier, to $3.9 million.
HarborOne recorded a $4.7 million specific reserve tied to a suburban office property. The loan is on nonaccrual status.