Welcome to our dedicated page for Connectone Bancorp news (Ticker: CNOB), a resource for investors and traders seeking the latest updates and insights on Connectone Bancorp stock.
ConnectOne Bancorp Inc. (CNOB) delivers innovative banking solutions through its ConnectOne Bank and BoeFly fintech platforms. This news hub provides investors and business clients with essential updates on the company's financial performance, strategic initiatives, and market developments.
Access timely reports on earnings announcements, merger activity, and regulatory filings alongside insights into commercial lending trends and technology-driven banking solutions. Our curated news collection helps stakeholders monitor CNOB's relationship-banking model, geographic expansion efforts, and commitment to small business support.
Key coverage areas include quarterly financial results, leadership changes, SBA loan program updates, and fintech innovation through BoeFly's lending marketplace. Bookmark this page for reliable updates on CNOB's position in the competitive New York Metro banking landscape and its FDIC-insured services.
ConnectOne Bancorp (CNOB) reported Q1 2025 net income of $18.7 million, slightly down from $18.9 million in Q4 2024 but up from $15.7 million in Q1 2024. Diluted EPS remained stable at $0.49 compared to Q4 2024 and increased from $0.41 in Q1 2024.
The bank's performance showed improvement with Return on Average Assets at 0.84% and Return on Average Tangible Common Equity at 8.25%. Net interest margin widened by 7 basis points to 2.93%, driven by strengthened balance sheet and favorable interest rate positioning. The loan portfolio slightly contracted, but management reports a robust pipeline.
Credit quality remained stable with nonaccrual loans decreasing to 0.61% of total loans and quarterly charge-offs below 0.18%. The bank declared a cash dividend of $0.18 per common share and is proceeding with its planned merger with The First of Long Island in Q2 2025.
ConnectOne Bancorp (Nasdaq: CNOB) has scheduled its first quarter 2025 earnings release and conference call. The company will announce its financial results for the quarter ending March 31, 2025, before market opening on Thursday, April 24, 2025.
The earnings conference call and audio webcast will be held at 10:00 a.m. ET on the same day, hosted by Chairman and CEO Frank Sorrentino III and Senior EVP/CFO William S. Burns. Investors can join via phone at 1 (646) 307-1963 using access code 5043609, or listen to the webcast through the company's Investor Relations website.
A replay will be available from 1:00 p.m. ET on April 24 until May 1, 2025, by calling 1 (609) 800-9909 with the same access code.
ConnectOne Bancorp (CNOB) and The First of Long Island (FLIC) shareholders have approved their proposed merger at separate special meetings. The transaction is expected to close in Q2 2025, pending regulatory approval. The combined entity will operate under the ConnectOne brand, creating a premier New York-metro community bank with approximately $14 billion in total assets, $11 billion in total deposits, and $11 billion in total loans.
The merger will position ConnectOne among the top 5 banks on Long Island by deposit market share. Chris Becker, current CEO of First of Long Island, will become Vice Chairman of ConnectOne following the transaction's completion.
ConnectOne Bancorp (CNOB) reported Q4 2024 net income of $18.9 million, up from $15.7 million in Q3 2024 and $17.8 million in Q4 2023. Diluted EPS reached $0.49, compared to $0.41 in Q3 2024 and $0.46 in Q4 2023.
The bank showed strong performance with a 2.0% quarterly loan portfolio growth and 3.2% core deposits growth. The net interest margin improved by nearly 20 basis points, benefiting from reduced deposit costs. The company maintained stable credit quality and increased tangible book value.
Full-year 2024 net income was $67.8 million ($1.76 per share), down from $81.0 million ($2.07 per share) in 2023. The Board declared a quarterly cash dividend of $0.18 per common share and $0.328125 per preferred share depositary share.
The company's planned merger with The First of Long Island is progressing as expected, with closing anticipated in Q2 2025.
ConnectOne Bancorp (Nasdaq: CNOB) has announced it will release its fourth quarter 2024 financial results before market opening on Thursday, January 30, 2025. The company will host a conference call and audio webcast at 10:00 a.m. ET on the same day to discuss the results.
The earnings call will be led by Chairman and CEO Frank Sorrentino III and CFO William S. Burns. Investors can join via phone at 1 (646) 307-1963 using access code 1691400. An audio webcast will be available through the company's website. A replay of the call will be accessible from 1:00 p.m. ET on January 30 until February 6, 2025.
ConnectOne Bancorp reported net income of $15.7 million for Q3 2024, down from $17.5 million in Q2 2024 and $19.9 million in Q3 2023. Diluted EPS was $0.41, compared to $0.46 in Q2 and $0.51 in Q3 2023. The decrease was primarily due to increased provision for credit losses, higher noninterest expenses, and decreased net interest income. The company announced a planned merger with The First of Long Island and declared a cash dividend of $0.18 per common share. The net interest margin was 2.67%, with expectations of a 10 basis point increase in Q4 2024.
ConnectOne Bancorp, Inc. (Nasdaq: CNOB), parent company of ConnectOne Bank, has announced plans to release its third quarter 2024 results before market opening on Thursday, October 24, 2024. The company will host a conference call and audio webcast at 10:00 a.m. ET on the same day to discuss financial performance and operating results.
The call will be hosted by Chairman and CEO Frank Sorrentino III and Senior Executive VP and CFO William S. Burns. Interested parties can dial in at 1 (646) 307-1963 with access code 5504182. An audio webcast will be available on the company's website. A replay of the call will be accessible from approximately 1:00 p.m. ET on October 24 until October 31, 2024.
ConnectOne Bancorp (Nasdaq: CNOB) and The First of Long Island (Nasdaq: FLIC) have announced a merger agreement. The combined company will operate under the ConnectOne brand, with approximately $14 billion in total assets. First of Long Island shareholders will receive 0.5175 shares of ConnectOne common stock for each FLIC share, valuing the transaction at about $284 million.
The merger will significantly expand ConnectOne's presence on Long Island, with 30% of the pro forma deposit franchise located in Nassau and Suffolk Counties. The transaction is expected to be 36% accretive to ConnectOne's earnings per share in 2025, with a tangible book value per share dilution of 12% and an earnback period of about 2.9 years.
The deal is anticipated to close in mid-2025, subject to shareholder and regulatory approvals. ConnectOne plans to raise approximately $100 million in subordinated debt prior to closing.
ConnectOne Bancorp (Nasdaq: CNOB) reported Q2 2024 net income of $17.5 million, up from $15.7 million in Q1 2024 but down from $19.9 million in Q2 2023. Diluted EPS was $0.46, compared to $0.41 in Q1 2024 and $0.51 in Q2 2023. The increase from Q1 2024 was primarily due to a decrease in provision for credit losses and increases in net interest income and noninterest income. The decrease from Q2 2023 was mainly due to lower net interest income and higher noninterest expenses.
Key highlights include:
- Net interest margin widened to 2.72% from 2.64% in Q1 2024
- Client deposit balances increased ~7% annualized
- Loan portfolio decreased due to higher pay-downs and pay-offs
- Declared cash dividend of $0.18 per common share
- Nonperforming assets decreased to 0.47% of total assets
ConnectOne Bancorp (NASDAQ: CNOB), the parent company of ConnectOne Bank, will release its second quarter financial results on July 25, 2024, before the market opens. A conference call and audio webcast to discuss these results will follow at 10:00 a.m. ET the same day. The call will be hosted by Chairman and CEO Frank Sorrentino III and CFO William S. Burns. The dial-in number is (646) 307-1963 with access code 8868797. An audio webcast will be accessible via the company's website, with a replay available from 1:00 p.m. ET on July 25, 2024, until August 1, 2024. The webcast archive will remain online post-call.
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