ConnectOne Bancorp, Inc. Reports First Quarter 2025 Results; Declares Common and Preferred Dividends
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 (CNOB) ha riportato un utile netto nel primo trimestre 2025 di 18,7 milioni di dollari, leggermente inferiore ai 18,9 milioni del quarto trimestre 2024, ma in aumento rispetto ai 15,7 milioni del primo trimestre 2024. L'EPS diluito è rimasto stabile a 0,49 dollari rispetto al quarto trimestre 2024, con un incremento rispetto ai 0,41 dollari del primo trimestre 2024.
La performance della banca ha mostrato miglioramenti con un rendimento medio degli attivi (ROAA) dello 0,84% e un rendimento medio del capitale tangibile comune (ROATCE) dell'8,25%. Il margine di interesse netto si è ampliato di 7 punti base, raggiungendo il 2,93%, grazie a un bilancio rafforzato e a una posizione favorevole dei tassi d’interesse. Il portafoglio prestiti si è leggermente contratto, ma la direzione segnala un solido flusso di operazioni in pipeline.
La qualità del credito è rimasta stabile con i prestiti non redditizi in calo allo 0,61% del totale prestiti e le svalutazioni trimestrali sotto lo 0,18%. La banca ha dichiarato un dividendo in contanti di 0,18 dollari per azione ordinaria e sta procedendo con la fusione pianificata con The First of Long Island nel secondo trimestre 2025.
ConnectOne Bancorp (CNOB) reportó un ingreso neto en el primer trimestre de 2025 de 18,7 millones de dólares, ligeramente inferior a los 18,9 millones del cuarto trimestre de 2024, pero superior a los 15,7 millones del primer trimestre de 2024. Las ganancias diluidas por acción (EPS) se mantuvieron estables en 0,49 dólares comparado con el cuarto trimestre de 2024, y aumentaron desde 0,41 dólares en el primer trimestre de 2024.
El desempeño del banco mostró mejoras con un retorno sobre activos promedio (ROAA) del 0,84% y un retorno sobre el capital tangible común promedio (ROATCE) del 8,25%. El margen neto de interés se amplió en 7 puntos básicos hasta 2,93%, impulsado por un balance fortalecido y una posición favorable en las tasas de interés. La cartera de préstamos se contrajo ligeramente, pero la administración reporta un sólido flujo de operaciones en proceso.
La calidad crediticia se mantuvo estable con préstamos en mora que disminuyeron al 0,61% del total de préstamos y cargos trimestrales por debajo del 0,18%. El banco declaró un dividendo en efectivo de 0,18 dólares por acción común y avanza con su fusión planificada con The First of Long Island en el segundo trimestre de 2025.
ConnectOne Bancorp (CNOB)는 2025년 1분기 순이익으로 1,870만 달러를 보고했으며, 이는 2024년 4분기의 1,890만 달러보다 약간 감소했으나 2024년 1분기의 1,570만 달러보다는 증가한 수치입니다. 희석 주당순이익(EPS)은 2024년 4분기와 동일한 0.49달러를 유지했으며, 2024년 1분기의 0.41달러에서 상승했습니다.
은행의 실적은 평균 자산 수익률(ROAA) 0.84%와 평균 유형 보통주 자본 수익률(ROATCE) 8.25%로 개선되었습니다. 순이자 마진은 7베이시스 포인트 확대되어 2.93%를 기록했으며, 이는 강화된 대차대조표와 유리한 금리 포지션에 기인합니다. 대출 포트폴리오는 다소 축소되었으나, 경영진은 견고한 대기 중 거래 파이프라인을 보고하고 있습니다.
신용 품질은 안정적이며, 연체 대출 비율이 전체 대출의 0.61%로 감소했고 분기별 대손충당금은 0.18% 미만입니다. 은행은 보통주 1주당 0.18달러의 현금 배당을 선언했으며 2025년 2분기에 The First of Long Island와의 예정된 합병을 진행 중입니다.
ConnectOne Bancorp (CNOB) a annoncé un bénéfice net au premier trimestre 2025 de 18,7 millions de dollars, en légère baisse par rapport à 18,9 millions au quatrième trimestre 2024, mais en hausse par rapport à 15,7 millions au premier trimestre 2024. Le BPA dilué est resté stable à 0,49 $ par rapport au quatrième trimestre 2024, en augmentation par rapport à 0,41 $ au premier trimestre 2024.
La performance de la banque s'est améliorée avec un rendement des actifs moyens (ROAA) de 0,84 % et un rendement des capitaux propres tangibles moyens (ROATCE) de 8,25 %. La marge nette d'intérêt s'est élargie de 7 points de base pour atteindre 2,93 %, portée par un bilan renforcé et une position favorable sur les taux d'intérêt. Le portefeuille de prêts s'est légèrement contracté, mais la direction signale un pipeline solide.
La qualité du crédit est restée stable avec une baisse des prêts non productifs à 0,61 % du total des prêts et des radiations trimestrielles inférieures à 0,18 %. La banque a déclaré un dividende en espèces de 0,18 $ par action ordinaire et poursuit sa fusion prévue avec The First of Long Island au deuxième trimestre 2025.
ConnectOne Bancorp (CNOB) meldete einen Nettogewinn von 18,7 Millionen US-Dollar im ersten Quartal 2025, leicht rückläufig gegenüber 18,9 Millionen US-Dollar im vierten Quartal 2024, aber höher als 15,7 Millionen US-Dollar im ersten Quartal 2024. Das verwässerte Ergebnis je Aktie (EPS) blieb mit 0,49 US-Dollar gegenüber dem vierten Quartal 2024 stabil und stieg von 0,41 US-Dollar im ersten Quartal 2024.
Die Bank verzeichnete eine verbesserte Leistung mit einer Rendite auf durchschnittliche Vermögenswerte (ROAA) von 0,84 % und einer Rendite auf durchschnittliches materielles Eigenkapital (ROATCE) von 8,25 %. Die Nettomarge aus Zinsen weitete sich um 7 Basispunkte auf 2,93 % aus, was auf eine gestärkte Bilanz und eine günstige Zinsposition zurückzuführen ist. Das Kreditportfolio schrumpfte leicht, doch das Management berichtet von einer robusten Pipeline.
Die Kreditqualität blieb stabil, wobei notleidende Kredite auf 0,61 % des Gesamtkreditvolumens zurückgingen und die vierteljährlichen Abschreibungen unter 0,18 % lagen. Die Bank erklärte eine Bardividende von 0,18 US-Dollar je Stammaktie und setzt die geplante Fusion mit The First of Long Island im zweiten Quartal 2025 fort.
- Net income increased 19% year-over-year to $18.7 million
- Net interest margin improved by 7 basis points to 2.93%
- Credit quality improved with nonaccrual loans decreasing to 0.61%
- Tangible book value per share increased by over 3% since merger announcement
- Strong pipeline of loans with attractive spreads reported
- Net income declined slightly from Q4 2024 ($18.7M vs $18.9M)
- Loan portfolio contracted since year-end
- Criticized and classified loans increased to 2.79% from 1.30% year-over-year
- Delinquent loans (30-89 days) increased to 0.18% from 0.04%
Insights
ConnectOne's Q1 shows improving YoY performance with expanding margins, solid credit metrics, and tangible book value growth ahead of FLIC merger.
ConnectOne Bancorp delivered stable quarterly performance with
The bank's asset quality remains sound with nonaccrual loans decreasing to
Capital position continues strengthening with tangible common equity ratio improving to
While loan balances contracted slightly (
The upcoming merger represents a strategic expansion in the New York Metro market, potentially creating revenue synergies and scale advantages. With anticipation of continued margin expansion through 2025 and into 2026, ConnectOne appears well-positioned despite the modest quarterly contraction in assets.
ConnectOne maintains stable credit metrics with declining nonaccruals while criticized loans incrementally rise, showing disciplined portfolio management amid potential headwinds.
ConnectOne's Q1 credit quality indicators reveal a stable overall risk profile, with some mixed signals worth noting. Positively, nonperforming assets decreased to
The allowance for credit losses remains unchanged at
However, some early warning indicators warrant monitoring. Criticized and classified loans increased slightly to
The bank's exposure to potential tariff-related risks appears , with management noting "very disruption to date" from import/export dependencies. The
The improvement in regulatory CRE concentration ratio to
ENGLEWOOD CLIFFS, N.J., April 24, 2025 (GLOBE NEWSWIRE) -- ConnectOne Bancorp, Inc. (Nasdaq: CNOB) (the “Company” or “ConnectOne”), parent company of ConnectOne Bank (the “Bank”), today reported net income available to common stockholders of
Operating net income available to common stockholders, which excludes non-operating items (primarily merger and branch closure related expenses), was
Net income available to common stockholders and diluted earnings per share during the first quarter of 2025 were essentially flat when compared to the fourth quarter of 2024, reflecting modest changes in all statement of income categories. The increase of
“We are pleased with ConnectOne’s solid performance to start the year, demonstrating disciplined execution across the organization,” said Frank Sorrentino, Chairman and Chief Executive Officer of ConnectOne. “We look forward to finalizing our planned merger with The First of Long Island Corporation in the second quarter- bringing together two highly compatible relationship focused institutions to create a premier New York Metro community bank, providing attractive opportunities for our combined client base and the markets we serve.”
“Our net interest margin widened meaningfully again as expected -- increasing 7 basis points during the 2025 first quarter -- driven by a strengthened balance sheet and favorable interest rate positioning. We anticipate this positive momentum to carry through the remainder of the year and into 2026, supporting continued margin expansion.” Mr. Sorrentino commented, “Although the loan portfolio contracted slightly since year-end, our loan pipeline is robust, backed by solid credits at attractive spreads, and continues to reflect steady, diversified growth.”
“Credit quality trends remained stable during the first quarter with nonaccrual loans decreasing to
Mr. Sorrentino concluded, “Although there is an increasing industry-wide focus on the impact of potential tariff policy on borrower health in various loan segments, our direct exposure to import/export-dependent segments is very limited. Our ongoing portfolio reviews have shown very limited disruption to date, and we remain confident in the stability and resilience of our credit portfolio.”
Dividend Declarations
The Company announced that its Board of Directors declared a cash dividend on both its common stock and its outstanding preferred stock. A cash dividend on common stock of
Operating Results
Fully taxable equivalent net interest income for the first quarter of 2025 was
Fully taxable equivalent net interest income for the first quarter of 2025 increased by
Noninterest income was
Noninterest expenses were
Income tax expense was
Asset Quality
The provision for credit losses was
Nonperforming assets, which includes nonaccrual loans and other real estate owned (the Bank had no other real estate owned during the periods reported), were
Selected Balance Sheet Items
The Company’s total assets were
The Company’s total stockholders’ equity was
Use of Non-GAAP Financial Measures
In addition to the results presented in accordance with Generally Accepted Accounting Principles ("GAAP"), ConnectOne routinely supplements its evaluation with an analysis of certain non-GAAP measures. ConnectOne believes these non-GAAP financial measures, in addition to the related GAAP measures, provide meaningful information to investors in understanding our operating performance and trends. These non-GAAP measures have inherent limitations and are not required to be uniformly applied and are not audited. They should not be considered in isolation or as a substitute for an analysis of results reported under GAAP. These non-GAAP measures may not be comparable to similarly titled measures reported by other companies. Reconciliations of non-GAAP financial measures disclosed in this earnings release to the comparable GAAP measures are provided in the accompanying tables.
First Quarter 2025 Results Conference Call
Management will also host a conference call and audio webcast at 10:00 a.m. ET on April 24, 2025 to review the Company's financial performance and operating results. The conference call dial-in number is 1 (646) 307-1963, access code 5043609. Please dial in at least five minutes before the start of the call to register. An audio webcast of the conference call will be available to the public, on a listen-only basis, via the "Investor Relations" link on the Company's website https://www.ConnectOneBank.com or at http://ir.connectonebank.com.
A replay of the conference call will be available beginning at approximately 1:00 p.m. ET on Thursday, April 24, 2025 and ending on Thursday, May 1, 2025 by dialing 1 (609) 800-9909, access code 5043609. An online archive of the webcast will be available following the completion of the conference call at https://www.ConnectOneBank.com or at http://ir.connectonebank.com.
About ConnectOne Bancorp, Inc.
ConnectOne Bancorp, Inc., is a modern financial services company that operates, through its subsidiary, ConnectOne Bank, and the Bank’s fintech subsidiary, BoeFly, Inc. ConnectOne Bank is a high-performing commercial bank offering a full suite of banking & lending products and services that focus on small to middle-market businesses. BoeFly, Inc. is a fintech marketplace that connects borrowers in the franchise space with funding solutions through a network of partner banks. ConnectOne Bancorp, Inc. is traded on the Nasdaq Global Market under the trading symbol "CNOB," and information about ConnectOne may be found at https://www.connectonebank.com.
This news release contains certain forward-looking statements which are based on certain assumptions and describe future plans, strategies, and expectations of the Company. These forward-looking statements are generally identified by use of the words "believe," "expect," "intend," "anticipate," "estimate," "project," or similar expressions. The Company's ability to predict results or the actual effect of future plans or strategies is inherently uncertain. Factors which could have a material adverse effect on the operations of the Company and its subsidiaries include, but are not limited to, those factors set forth in Item 1A – Risk Factors of the Company’s Annual Report on Form 10-K, as filed with the U.S. Securities and Exchange Commission, as supplemented by the Company’s subsequent filings with the U.S. Securities and Exchange Commission, and changes in interest rates, general economic conditions, legislative/regulatory changes, monetary and fiscal policies of the U.S. Government, including policies of the U.S. Treasury and the Federal Reserve Board, the quality or composition of the loan or investment portfolios, demand for loan products, deposit flows, competition, demand for financial services in the Company's market area, changes in accounting principles and guidelines and the impact of the health emergencies and natural disasters on the Company, its employees and operations, and its customers. These risks and uncertainties should be considered in evaluating forward-looking statements and undue reliance should not be placed on such statements. The Company does not undertake, and specifically disclaims any obligation, to publicly release the result of any revisions which may be made to any forward-looking statements to reflect events or circumstances after the date of such statements or to reflect the occurrence of anticipated or unanticipated events.
Investor Contact:
William S. Burns
Senior Executive Vice President & CFO
201.816.4474; bburns@cnob.com
Media Contact:
Shannan Weeks
MikeWorldWide
732.299.7890; sweeks@mww.com
| CONNECTONE BANCORP, INC. AND SUBSIDIARIES | |||||||||||
| CONSOLIDATED CONDENSED STATEMENTS OF FINANCIAL CONDITION | |||||||||||
| (in thousands) | |||||||||||
| March 31, | December 31, | March 31, | |||||||||
| 2025 | 2024 | 2024 | |||||||||
| (unaudited) | (unaudited) | ||||||||||
| ASSETS | |||||||||||
| Cash and due from banks | $ | 49,759 | $ | 57,816 | $ | 45,322 | |||||
| Interest-bearing deposits with banks | 242,844 | 298,672 | 232,261 | ||||||||
| Cash and cash equivalents | 292,603 | 356,488 | 277,583 | ||||||||
| Investment securities | 636,806 | 612,847 | 619,397 | ||||||||
| Equity securities | 18,859 | 20,092 | 19,457 | ||||||||
| Loans held-for-sale | 202 | 743 | - | ||||||||
| Loans receivable | 8,201,134 | 8,274,810 | 8,297,957 | ||||||||
| Less: Allowance for credit losses - loans | 82,403 | 82,685 | 82,869 | ||||||||
| Net loans receivable | 8,118,731 | 8,192,125 | 8,215,088 | ||||||||
| Investment in restricted stock, at cost | 37,031 | 40,449 | 48,931 | ||||||||
| Bank premises and equipment, net | 27,624 | 28,447 | 29,827 | ||||||||
| Accrued interest receivable | 46,740 | 45,498 | 49,731 | ||||||||
| Bank owned life insurance | 244,651 | 243,672 | 239,308 | ||||||||
| Right of use operating lease assets | 13,755 | 14,489 | 11,725 | ||||||||
| Goodwill | 208,372 | 208,372 | 208,372 | ||||||||
| Core deposit intangibles | 4,360 | 4,639 | 5,553 | ||||||||
| Other assets | 109,521 | 111,739 | 128,992 | ||||||||
| Total assets | $ | 9,759,255 | $ | 9,879,600 | $ | 9,853,964 | |||||
| LIABILITIES | |||||||||||
| Deposits: | |||||||||||
| Noninterest-bearing | $ | 1,319,196 | $ | 1,422,044 | $ | 1,290,523 | |||||
| Interest-bearing | 6,448,034 | 6,398,070 | 6,298,131 | ||||||||
| Total deposits | 7,767,230 | 7,820,114 | 7,588,654 | ||||||||
| Borrowings | 613,053 | 688,064 | 877,568 | ||||||||
| Subordinated debentures, net | 80,071 | 79,944 | 79,566 | ||||||||
| Operating lease liabilities | 14,737 | 15,498 | 12,843 | ||||||||
| Other liabilities | 31,225 | 34,276 | 78,724 | ||||||||
| Total liabilities | 8,506,316 | 8,637,896 | 8,637,355 | ||||||||
| COMMITMENTS AND CONTINGENCIES | |||||||||||
| STOCKHOLDERS' EQUITY | |||||||||||
| Preferred stock | 110,927 | 110,927 | 110,927 | ||||||||
| Common stock | 586,946 | 586,946 | 586,946 | ||||||||
| Additional paid-in capital | 36,007 | 36,347 | 32,866 | ||||||||
| Retained earnings | 643,265 | 631,446 | 600,118 | ||||||||
| Treasury stock | (76,116 | ) | (76,116 | ) | (76,116 | ) | |||||
| Accumulated other comprehensive loss | (48,090 | ) | (47,846 | ) | (38,132 | ) | |||||
| Total stockholders' equity | 1,252,939 | 1,241,704 | 1,216,609 | ||||||||
| Total liabilities and stockholders' equity | $ | 9,759,255 | $ | 9,879,600 | $ | 9,853,964 | |||||
| CONNECTONE BANCORP, INC. AND SUBSIDIARIES | ||||||||||
| CONSOLIDATED STATEMENTS OF INCOME | ||||||||||
| (dollars in thousands, except for per share data) | ||||||||||
| Three Months Ended | ||||||||||
| 03/31/25 | 12/31/24 | 03/31/24 | ||||||||
| Interest income | ||||||||||
| Interest and fees on loans | $ | 115,351 | $ | 118,346 | $ | 120,088 | ||||
| Interest and dividends on investment securities: | ||||||||||
| Taxable | 4,987 | 4,804 | 4,334 | |||||||
| Tax-exempt | 1,097 | 1,109 | 1,154 | |||||||
| Dividends | 889 | 959 | 1,125 | |||||||
| Interest on federal funds sold and other short-term investments | 2,465 | 2,815 | 2,906 | |||||||
| Total interest income | 124,789 | 128,033 | 129,607 | |||||||
| Interest expense | ||||||||||
| Deposits | 53,992 | 58,568 | 60,407 | |||||||
| Borrowings | 5,041 | 4,754 | 8,900 | |||||||
| Total interest expense | 59,033 | 63,322 | 69,307 | |||||||
| Net interest income | 65,756 | 64,711 | 60,300 | |||||||
| Provision for credit losses | 3,500 | 3,500 | 4,000 | |||||||
| Net interest income after provision for credit losses | 62,256 | 61,211 | 56,300 | |||||||
| Noninterest income | ||||||||||
| Deposit, loan and other income | 2,006 | 1,798 | 1,592 | |||||||
| Income on bank owned life insurance | 1,584 | 1,656 | 1,664 | |||||||
| Net gains on sale of loans held-for-sale | 332 | 597 | 506 | |||||||
| Net gains (losses) on equity securities | 529 | (307 | ) | 86 | ||||||
| Total noninterest income | 4,451 | 3,744 | 3,848 | |||||||
| Noninterest expenses | ||||||||||
| Salaries and employee benefits | 22,578 | 22,244 | 22,131 | |||||||
| Occupancy and equipment | 2,680 | 2,818 | 3,009 | |||||||
| FDIC insurance | 1,800 | 1,800 | 1,800 | |||||||
| Professional and consulting | 2,366 | 2,449 | 1,928 | |||||||
| Marketing and advertising | 595 | 495 | 677 | |||||||
| Information technology and communications | 4,604 | 4,523 | 4,389 | |||||||
| Merger expenses | 1,320 | 863 | - | |||||||
| Branch closing expenses | - | 477 | - | |||||||
| Bank owned life insurance restructuring charge | 327 | - | - | |||||||
| Amortization of core deposit intangibles | 279 | 296 | 321 | |||||||
| Other expenses | 2,756 | 2,533 | 2,810 | |||||||
| Total noninterest expenses | 39,305 | 38,498 | 37,065 | |||||||
| Income before income tax expense | 27,402 | 26,457 | 23,083 | |||||||
| Income tax expense | 7,160 | 6,086 | 5,878 | |||||||
| Net income | 20,242 | 20,371 | 17,205 | |||||||
| Preferred dividends | 1,509 | 1,509 | 1,509 | |||||||
| Net income available to common stockholders | $ | 18,733 | $ | 18,862 | $ | 15,696 | ||||
| Earnings per common share: | ||||||||||
| Basic | $ | 0.49 | $ | 0.49 | $ | 0.41 | ||||
| Diluted | 0.49 | 0.49 | 0.41 | |||||||
| ConnectOne's management believes that the supplemental financial information, including non-GAAP measures provided below, is useful to investors. The non-GAAP measures should not be viewed as a substitute for financial results determined in accordance with GAAP, and are not necessarily comparable to non-GAAP financial measures presented by other companies. | |||||||||||||||||||
| CONNECTONE BANCORP, INC. | |||||||||||||||||||
| SUPPLEMENTAL GAAP AND NON-GAAP FINANCIAL MEASURES | |||||||||||||||||||
| As of | |||||||||||||||||||
| Mar. 31, | Dec. 31, | Sept. 30, | Jun. 30, | Mar. 31, | |||||||||||||||
| 2025 | 2024 | 2024 | 2024 | 2024 | |||||||||||||||
| Selected Financial Data | (dollars in thousands) | ||||||||||||||||||
| Total assets | $ | 9,759,255 | $ | 9,879,600 | $ | 9,639,603 | $ | 9,723,731 | $ | 9,853,964 | |||||||||
| Loans receivable: | |||||||||||||||||||
| Commercial | 1,483,392 | $ | 1,522,308 | $ | 1,505,743 | $ | 1,491,079 | $ | 1,561,063 | ||||||||||
| Commercial real estate | 3,356,943 | 3,384,319 | 3,261,160 | 3,274,941 | 3,333,488 | ||||||||||||||
| Multifamily | 2,490,256 | 2,506,782 | 2,482,258 | 2,499,581 | 2,507,893 | ||||||||||||||
| Commercial construction | 617,593 | 616,246 | 616,087 | 639,168 | 646,593 | ||||||||||||||
| Residential | 256,555 | 249,691 | 250,249 | 256,786 | 254,214 | ||||||||||||||
| Consumer | 1,604 | 1,136 | 835 | 945 | 850 | ||||||||||||||
| Gross loans | 8,206,343 | 8,280,482 | 8,116,332 | 8,162,500 | 8,304,101 | ||||||||||||||
| Net deferred loan fees | (5,209 | ) | (5,672 | ) | (4,356 | ) | (4,597 | ) | (6,144 | ) | |||||||||
| Loans receivable | 8,201,134 | 8,274,810 | 8,111,976 | 8,157,903 | 8,297,957 | ||||||||||||||
| Loans held-for-sale | 202 | 743 | - | 435 | - | ||||||||||||||
| Total loans | $ | 8,201,336 | $ | 8,275,553 | $ | 8,111,976 | $ | 8,158,338 | $ | 8,297,957 | |||||||||
| Investment and equity securities | $ | 655,665 | $ | 632,939 | $ | 667,112 | $ | 640,322 | $ | 638,854 | |||||||||
| Goodwill and other intangible assets | 212,732 | 213,011 | 213,307 | 213,604 | 213,925 | ||||||||||||||
| Deposits: | |||||||||||||||||||
| Noninterest-bearing demand | $ | 1,319,196 | $ | 1,422,044 | $ | 1,262,568 | $ | 1,268,882 | $ | 1,290,523 | |||||||||
| Time deposits | 2,550,223 | 2,557,200 | 2,614,187 | 2,593,165 | 2,623,391 | ||||||||||||||
| Other interest-bearing deposits | 3,897,811 | 3,840,870 | 3,647,350 | 3,713,967 | 3,674,740 | ||||||||||||||
| Total deposits | $ | 7,767,230 | $ | 7,820,114 | $ | 7,524,105 | $ | 7,576,014 | $ | 7,588,654 | |||||||||
| Borrowings | $ | 613,053 | $ | 688,064 | $ | 742,133 | $ | 756,144 | $ | 877,568 | |||||||||
| Subordinated debentures (net of debt issuance costs) | 80,071 | 79,944 | 79,818 | 79,692 | 79,566 | ||||||||||||||
| Total stockholders' equity | 1,252,939 | 1,241,704 | 1,239,496 | 1,224,227 | 1,216,609 | ||||||||||||||
| Quarterly Average Balances | |||||||||||||||||||
| Total assets | $ | 9,748,605 | $ | 9,563,446 | $ | 9,742,853 | $ | 9,745,853 | $ | 9,860,753 | |||||||||
| Loans receivable: | |||||||||||||||||||
| Commercial | $ | 1,488,962 | $ | 1,487,850 | $ | 1,485,777 | $ | 1,517,446 | $ | 1,552,360 | |||||||||
| Commercial real estate (including multifamily) | 5,852,342 | 5,733,188 | 5,752,467 | 5,789,498 | 5,890,853 | ||||||||||||||
| Commercial construction | 610,859 | 631,022 | 628,740 | 652,227 | 637,993 | ||||||||||||||
| Residential | 256,430 | 250,589 | 252,975 | 254,284 | 252,965 | ||||||||||||||
| Consumer | 5,687 | 5,204 | 7,887 | 5,155 | 5,091 | ||||||||||||||
| Gross loans | 8,214,280 | 8,107,853 | 8,127,846 | 8,218,610 | 8,339,262 | ||||||||||||||
| Net deferred loan fees | (5,525 | ) | (4,727 | ) | (4,513 | ) | (5,954 | ) | (6,533 | ) | |||||||||
| Loans receivable | 8,208,755 | 8,103,126 | 8,123,333 | 8,212,656 | 8,332,729 | ||||||||||||||
| Loans held-for-sale | 259 | 498 | 83 | 169 | 99 | ||||||||||||||
| Total loans | $ | 8,209,014 | $ | 8,103,624 | $ | 8,123,416 | $ | 8,212,825 | $ | 8,332,828 | |||||||||
| Investment and equity securities | $ | 655,191 | $ | 653,988 | $ | 650,897 | $ | 637,551 | $ | 633,270 | |||||||||
| Goodwill and other intangible assets | 212,915 | 213,205 | 213,502 | 213,813 | 214,133 | ||||||||||||||
| Deposits: | |||||||||||||||||||
| Noninterest-bearing demand | $ | 1,305,722 | $ | 1,304,699 | $ | 1,259,912 | $ | 1,256,251 | $ | 1,254,201 | |||||||||
| Time deposits | 2,480,990 | 2,478,163 | 2,625,329 | 2,587,706 | 2,567,767 | ||||||||||||||
| Other interest-bearing deposits | 3,888,131 | 3,838,575 | 3,747,427 | 3,721,167 | 3,696,374 | ||||||||||||||
| Total deposits | $ | 7,674,843 | $ | 7,621,437 | $ | 7,632,668 | $ | 7,565,124 | $ | 7,518,342 | |||||||||
| Borrowings | $ | 686,391 | $ | 648,300 | $ | 717,586 | $ | 787,256 | $ | 947,003 | |||||||||
| Subordinated debentures (net of debt issuance costs) | 79,988 | 79,862 | 79,735 | 79,609 | 79,483 | ||||||||||||||
| Total stockholders' equity | 1,254,373 | 1,241,738 | 1,234,724 | 1,220,621 | 1,220,818 | ||||||||||||||
| Three Months Ended | |||||||||||||||||||
| Mar. 31, | Dec. 31, | Sept. 30, | Jun. 30, | Mar. 31, | |||||||||||||||
| 2025 | 2024 | 2024 | 2024 | 2024 | |||||||||||||||
| (dollars in thousands, except for per share data) | |||||||||||||||||||
| Net interest income | $ | 65,756 | $ | 64,711 | $ | 60,887 | $ | 61,439 | $ | 60,300 | |||||||||
| Provision for credit losses | 3,500 | 3,500 | 3,800 | 2,500 | 4,000 | ||||||||||||||
| Net interest income after provision for credit losses | 62,256 | 61,211 | 57,087 | 58,939 | 56,300 | ||||||||||||||
| Noninterest income | |||||||||||||||||||
| Deposit, loan and other income | 2,006 | 1,798 | 1,817 | 1,654 | 1,592 | ||||||||||||||
| Income on bank owned life insurance | 1,584 | 1,656 | 2,145 | 1,677 | 1,664 | ||||||||||||||
| Net gains on sale of loans held-for-sale | 332 | 597 | 343 | 1,277 | 506 | ||||||||||||||
| Net gains (losses) on equity securities | 529 | (307 | ) | 432 | (209 | ) | 86 | ||||||||||||
| Total noninterest income | 4,451 | 3,744 | 4,737 | 4,399 | 3,848 | ||||||||||||||
| Noninterest expenses | |||||||||||||||||||
| Salaries and employee benefits | 22,578 | 22,244 | 22,957 | 22,721 | 22,131 | ||||||||||||||
| Occupancy and equipment | 2,680 | 2,818 | 2,889 | 2,899 | 3,009 | ||||||||||||||
| FDIC insurance | 1,800 | 1,800 | 1,800 | 1,800 | 1,800 | ||||||||||||||
| Professional and consulting | 2,366 | 2,449 | 2,147 | 1,923 | 1,928 | ||||||||||||||
| Marketing and advertising | 595 | 495 | 635 | 613 | 677 | ||||||||||||||
| Information technology and communications | 4,604 | 4,523 | 4,464 | 4,198 | 4,389 | ||||||||||||||
| Merger expenses | 1,320 | 863 | 742 | - | - | ||||||||||||||
| Branch closing expenses | - | 477 | - | - | - | ||||||||||||||
| Bank owned life insurance restructuring charge | 327 | - | - | - | - | ||||||||||||||
| Amortization of core deposit intangible | 279 | 296 | 297 | 321 | 321 | ||||||||||||||
| Other expenses | 2,756 | 2,533 | 2,710 | 3,119 | 2,810 | ||||||||||||||
| Total noninterest expenses | 39,305 | 38,498 | 38,641 | 37,594 | 37,065 | ||||||||||||||
| Income before income tax expense | 27,402 | 26,457 | 23,183 | 25,744 | 23,083 | ||||||||||||||
| Income tax expense | 7,160 | 6,086 | 6,022 | 6,688 | 5,878 | ||||||||||||||
| Net income | 20,242 | 20,371 | 17,161 | 19,056 | 17,205 | ||||||||||||||
| Preferred dividends | 1,509 | 1,509 | 1,509 | 1,509 | 1,509 | ||||||||||||||
| Net income available to common stockholders | $ | 18,733 | $ | 18,862 | $ | 15,652 | $ | 17,547 | $ | 15,696 | |||||||||
| Weighted average diluted common shares outstanding | 38,511,237 | 38,519,581 | 38,525,484 | 38,448,594 | 38,511,747 | ||||||||||||||
| Diluted EPS | $ | 0.49 | $ | 0.49 | $ | 0.41 | $ | 0.46 | $ | 0.41 | |||||||||
| Reconciliation of GAAP Net Income to Operating Net Income: | |||||||||||||||||||
| Net income | $ | 20,242 | $ | 20,371 | $ | 17,161 | $ | 19,056 | $ | 17,205 | |||||||||
| Merger expenses | 1,320 | 863 | 742 | - | - | ||||||||||||||
| Branch closing expenses | - | 477 | - | - | - | ||||||||||||||
| Bank owned life insurance restructuring charge | 327 | - | - | - | - | ||||||||||||||
| Amortization of core deposit intangibles | 279 | 296 | 297 | 321 | 321 | ||||||||||||||
| Net (gains) losses on equity securities | (529 | ) | 307 | (432 | ) | 209 | (86 | ) | |||||||||||
| Tax impact of adjustments | (420 | ) | (585 | ) | (171 | ) | (149 | ) | (66 | ) | |||||||||
| Operating net income | $ | 21,219 | $ | 21,729 | $ | 17,597 | $ | 19,437 | $ | 17,374 | |||||||||
| Preferred dividends | 1,509 | 1,509 | 1,509 | 1,509 | 1,509 | ||||||||||||||
| Operating net income available to common stockholders | $ | 19,710 | $ | 20,220 | $ | 16,088 | $ | 17,928 | $ | 15,865 | |||||||||
| Operating diluted EPS (non-GAAP) (1) | $ | 0.51 | $ | 0.52 | $ | 0.42 | $ | 0.47 | $ | 0.41 | |||||||||
| Return on Assets Measures | |||||||||||||||||||
| Average assets | $ | 9,748,605 | $ | 9,653,446 | $ | 9,742,853 | $ | 9,745,853 | $ | 9,860,753 | |||||||||
| Return on avg. assets | 0.84 | % | 0.84 | % | 0.70 | % | 0.79 | % | 0.70 | ||||||||||
| Operating return on avg. assets (non-GAAP) (2) | 0.88 | 0.90 | 0.72 | 0.80 | 0.71 | ||||||||||||||
| (1) Operating net income available to common stockholders divided by weighted average diluted shares outstanding. | |||||||||||||||||||
| (2) Operating net income divided by average assets. | |||||||||||||||||||
| Three Months Ended | |||||||||||||||||||
| Mar. 31, | Dec. 31, | Sept. 30, | Jun. 30, | Mar. 31, | |||||||||||||||
| 2025 | 2024 | 2024 | 2024 | 2024 | |||||||||||||||
| Return on Equity Measures | (dollars in thousands) | ||||||||||||||||||
| Average stockholders' equity | $ | 1,254,373 | $ | 1,241,738 | $ | 1,234,724 | $ | 1,220,621 | $ | 1,220,818 | |||||||||
| Less: average preferred stock | (110,927 | ) | (110,927 | ) | (110,927 | ) | (110,927 | ) | (110,927 | ) | |||||||||
| Average common equity | $ | 1,143,446 | $ | 1,130,811 | $ | 1,123,797 | $ | 1,109,694 | $ | 1,109,891 | |||||||||
| Less: average intangible assets | (212,915 | ) | (213,205 | ) | (213,502 | ) | (213,813 | ) | (214,133 | ) | |||||||||
| Average tangible common equity | $ | 930,531 | $ | 917,606 | $ | 910,295 | $ | 895,881 | $ | 895,758 | |||||||||
| Return on avg. common equity (GAAP) | 6.64 | % | 6.64 | % | 5.54 | % | 6.36 | % | 5.69 | ||||||||||
| Operating return on avg. common equity (non-GAAP) (3) | 6.99 | 7.11 | 5.70 | 6.50 | 5.75 | ||||||||||||||
| Return on avg. tangible common equity (non-GAAP) (4) | 8.25 | 8.27 | 6.93 | 7.98 | 7.15 | ||||||||||||||
| Operating return on avg. tangible common equity (non-GAAP) (5) | 8.59 | 8.77 | 7.03 | 8.05 | 7.12 | ||||||||||||||
| Efficiency Measures | |||||||||||||||||||
| Total noninterest expenses | $ | 39,305 | $ | 38,498 | $ | 38,641 | $ | 37,594 | $ | 37,065 | |||||||||
| Merger expenses | (1,320 | ) | (863 | ) | (742 | ) | - | - | |||||||||||
| Branch closing expenses | - | (477 | ) | - | - | - | |||||||||||||
| Bank owned life insurance restructuring charge | (327 | ) | - | - | - | - | |||||||||||||
| Amortization of core deposit intangibles | (279 | ) | (296 | ) | (297 | ) | (321 | ) | (321 | ) | |||||||||
| Operating noninterest expense | $ | 37,379 | $ | 36,862 | $ | 37,602 | $ | 37,273 | $ | 36,744 | |||||||||
| Net interest income (tax equivalent basis) | $ | 66,580 | $ | 65,593 | $ | 61,710 | $ | 62,255 | $ | 61,111 | |||||||||
| Noninterest income | 4,451 | 3,744 | 4,737 | 4,399 | 3,848 | ||||||||||||||
| Net (gains) losses on equity securities | (529 | ) | 307 | (432 | ) | 209 | (86 | ) | |||||||||||
| Operating revenue | $ | 70,502 | $ | 69,644 | $ | 66,015 | $ | 66,863 | $ | 64,873 | |||||||||
| Operating efficiency ratio (non-GAAP) (6) | 53.0 | % | 52.9 | % | 57.0 | % | 55.7 | % | 56.6 | ||||||||||
| Net Interest Margin | |||||||||||||||||||
| Average interest-earning assets | $ | 9,224,712 | $ | 9,117,201 | $ | 9,206,038 | $ | 9,210,050 | $ | 9,323,291 | |||||||||
| Net interest income (tax equivalent basis) | 66,580 | 65,593 | 61,710 | 62,255 | 61,111 | ||||||||||||||
| Net interest margin (GAAP) | 2.93 | % | 2.86 | % | 2.67 | % | 2.72 | % | 2.64 | ||||||||||
| (3) Operating net income available to common stockholders divided by average common equity. | |||||||||||||||||||
| (4) Net income available to common stockholders, excluding amortization of intangible assets, divided by average tangible common equity. | |||||||||||||||||||
| (5) Operating net income available to common stockholders, divided by average tangible common equity. | |||||||||||||||||||
| (6) Operating noninterest expense divided by operating revenue. | |||||||||||||||||||
| As of | |||||||||||||||||||
| Mar. 31, | Dec. 31, | Sept. 30, | Jun. 30, | Mar. 31, | |||||||||||||||
| 2025 | 2024 | 2024 | 2024 | 2024 | |||||||||||||||
| Capital Ratios and Book Value per Share | (dollars in thousands, except for per share data) | ||||||||||||||||||
| Stockholders equity | $ | 1,252,939 | $ | 1,241,704 | $ | 1,239,496 | $ | 1,224,227 | $ | 1,216,609 | |||||||||
| Less: preferred stock | (110,927 | ) | (110,927 | ) | (110,927 | ) | (110,927 | ) | (110,927 | ) | |||||||||
| Common equity | $ | 1,142,012 | $ | 1,130,777 | $ | 1,128,569 | $ | 1,113,300 | $ | 1,105,682 | |||||||||
| Less: intangible assets | (212,732 | ) | (213,011 | ) | (213,307 | ) | (213,604 | ) | (213,925 | ) | |||||||||
| Tangible common equity | $ | 929,280 | $ | 917,766 | $ | 915,262 | $ | 899,696 | $ | 891,757 | |||||||||
| Total assets | $ | 9,759,255 | $ | 9,879,600 | $ | 9,639,603 | $ | 9,723,731 | $ | 9,853,964 | |||||||||
| Less: intangible assets | (212,732 | ) | (213,011 | ) | (213,307 | ) | (213,604 | ) | (213,925 | ) | |||||||||
| Tangible assets | $ | 9,546,523 | $ | 9,666,589 | $ | 9,426,296 | $ | 9,510,127 | $ | 9,640,039 | |||||||||
| Common shares outstanding | 38,469,975 | 38,370,317 | 38,368,217 | 38,365,069 | 38,333,053 | ||||||||||||||
| Common equity ratio (GAAP) | 11.70 | % | 11.45 | % | 11.71 | % | 11.45 | % | 11.22 | ||||||||||
| Tangible common equity ratio (non-GAAP) (7) | 9.73 | 9.49 | 9.71 | 9.46 | 9.25 | ||||||||||||||
| Regulatory capital ratios (Bancorp): | |||||||||||||||||||
| Leverage ratio | 11.33 | % | 11.33 | % | 11.10 | % | 10.97 | % | 10.73 | ||||||||||
| Common equity Tier 1 risk-based ratio | 11.14 | 10.97 | 11.07 | 10.90 | 10.70 | ||||||||||||||
| Risk-based Tier 1 capital ratio | 12.46 | 12.29 | 12.42 | 12.25 | 12.03 | ||||||||||||||
| Risk-based total capital ratio | 14.29 | 14.11 | 14.29 | 14.10 | 13.88 | ||||||||||||||
| Regulatory capital ratios (Bank): | |||||||||||||||||||
| Leverage ratio | 11.67 | % | 11.66 | % | 11.43 | % | 11.29 | % | 11.10 | ||||||||||
| Common equity Tier 1 risk-based ratio | 12.82 | 12.63 | 12.79 | 12.60 | 12.43 | ||||||||||||||
| Risk-based Tier 1 capital ratio | 12.82 | 12.63 | 12.79 | 12.60 | 12.43 | ||||||||||||||
| Risk-based total capital ratio | 13.79 | 13.60 | 13.77 | 13.58 | 13.41 | ||||||||||||||
| Book value per share (GAAP) | $ | 29.69 | $ | 29.47 | $ | 29.41 | $ | 29.02 | $ | 28.84 | |||||||||
| Tangible book value per share (non-GAAP) (8) | 24.16 | 23.92 | 23.85 | 23.45 | 23.26 | ||||||||||||||
| Net Loan Charge-offs (Recoveries): | |||||||||||||||||||
| Net loan charge-offs (recoveries): | |||||||||||||||||||
| Charge-offs | $ | 3,555 | $ | 3,363 | $ | 3,559 | $ | 3,595 | $ | 3,185 | |||||||||
| Recoveries | (155 | ) | (29 | ) | (53 | ) | (324 | ) | (23 | ) | |||||||||
| Net loan charge-offs | $ | 3,400 | $ | 3,334 | $ | 3,506 | $ | 3,271 | $ | 3,162 | |||||||||
| Net loan charge-offs as a % of average loans receivable (annualized) | 0.17 | % | 0.16 | % | 0.17 | % | 0.16 | % | 0.15 | ||||||||||
| Asset Quality | |||||||||||||||||||
| Nonaccrual loans | $ | 49,860 | $ | 57,310 | $ | 51,300 | $ | 46,026 | $ | 47,438 | |||||||||
| Other real estate owned | - | - | - | - | - | ||||||||||||||
| Nonperforming assets | $ | 49,860 | $ | 57,310 | $ | 51,300 | $ | 46,026 | $ | 47,438 | |||||||||
| Allowance for credit losses - loans ("ACL") | $ | 82,403 | $ | 82,685 | $ | 82,494 | $ | 82,077 | $ | 82,869 | |||||||||
| Loans receivable | 8,201,134 | 8,274,810 | 8,111,976 | 8,157,903 | 8,297,957 | ||||||||||||||
| Nonaccrual loans as a % of loans receivable | 0.61 | % | 0.69 | % | 0.63 | % | 0.56 | % | 0.57 | ||||||||||
| Nonperforming assets as a % of total assets | 0.51 | 0.58 | 0.53 | 0.47 | 0.48 | ||||||||||||||
| ACL as a % of loans receivable | 1.00 | 1.00 | 1.02 | 1.01 | 1.00 | ||||||||||||||
| ACL as a % of nonaccrual loans | 165.3 | 144.3 | 160.8 | 178.3 | 174.7 | ||||||||||||||
| (7) Tangible common equity divided by tangible assets | |||||||||||||||||||
| (8) Tangible common equity divided by common shares outstanding at period-end | |||||||||||||||||||
| CONNECTONE BANCORP, INC. | |||||||||||||||||||||||||||||
| NET INTEREST MARGIN ANALYSIS | |||||||||||||||||||||||||||||
| (dollars in thousands) | |||||||||||||||||||||||||||||
| For the Quarter Ended | |||||||||||||||||||||||||||||
| March 31, 2025 | December 31, 2024 | March 31, 2024 | |||||||||||||||||||||||||||
| Average | Average | Average | |||||||||||||||||||||||||||
| Interest-earning assets: | Balance | Interest | Rate (7) | Balance | Interest | Rate (7) | Balance | Interest | Rate (7) | ||||||||||||||||||||
| Investment securities (1) (2) | $ | 745,873 | $ | 6,375 | 3.47 | % | $ | 736,131 | $ | 6,207 | 3.35 | % | $ | 720,303 | $ | 5,794 | 3.24 | % | |||||||||||
| Loans receivable and loans held-for-sale (2) (3) (4) | 8,209,014 | 115,883 | 5.73 | 8,103,624 | 118,934 | 5.84 | 8,332,828 | 120,592 | 5.82 | ||||||||||||||||||||
| Federal funds sold and interest- | |||||||||||||||||||||||||||||
| bearing deposits with banks | 229,491 | 2,466 | 4.36 | 238,957 | 2,815 | 4.69 | 218,212 | 2,906 | 5.36 | ||||||||||||||||||||
| Restricted investment in bank stock | 40,334 | 889 | 8.94 | 38,489 | 959 | 9.91 | 51,948 | 1,126 | 8.72 | ||||||||||||||||||||
| Total interest-earning assets | 9,224,712 | 125,613 | 5.52 | 9,117,201 | 128,915 | 5.63 | 9,323,291 | 130,418 | 5.63 | ||||||||||||||||||||
| Allowance for loan losses | (84,027 | ) | (83,938 | ) | (84,005 | ) | |||||||||||||||||||||||
| Noninterest-earning assets | 607,920 | 620,183 | 621,467 | ||||||||||||||||||||||||||
| Total assets | $ | 9,748,605 | $ | 9,653,446 | $ | 9,860,753 | |||||||||||||||||||||||
| Interest-bearing liabilities: | |||||||||||||||||||||||||||||
| Money market deposits | 1,572,287 | 11,287 | 2.91 | 1,642,737 | 12,694 | 3.07 | 1,571,640 | 13,191 | 3.38 | ||||||||||||||||||||
| Savings deposits | 656,789 | 5,227 | 3.23 | 559,450 | 4,710 | 3.35 | 441,551 | 3,385 | 3.08 | ||||||||||||||||||||
| Time deposits | 2,480,990 | 25,154 | 4.11 | 2,478,163 | 27,374 | 4.39 | 2,567,767 | 28,038 | 4.39 | ||||||||||||||||||||
| Other interest-bearing deposits | 1,659,055 | 12,324 | 3.01 | 1,636,388 | 13,790 | 3.35 | 1,683,183 | 15,793 | 3.77 | ||||||||||||||||||||
| Total interest-bearing deposits | 6,369,121 | 53,992 | 3.44 | 6,316,738 | 58,568 | 3.69 | 6,264,141 | 60,407 | 3.88 | ||||||||||||||||||||
| Borrowings | 686,391 | 3,725 | 2.20 | 648,300 | 3,430 | 2.10 | 947,003 | 7,567 | 3.21 | ||||||||||||||||||||
| Subordinated debentures | 79,988 | 1,298 | 6.58 | 79,862 | 1,305 | 6.50 | 79,483 | 1,311 | 6.63 | ||||||||||||||||||||
| Finance lease | 1,210 | 18 | 6.03 | 1,280 | 19 | 5.91 | 1,483 | 22 | 5.97 | ||||||||||||||||||||
| Total interest-bearing liabilities | 7,136,710 | 59,033 | 3.35 | 7,046,180 | 63,322 | 3.58 | 7,292,110 | 69,307 | 3.82 | ||||||||||||||||||||
| Noninterest-bearing demand deposits | 1,305,722 | 1,304,699 | 1,254,201 | ||||||||||||||||||||||||||
| Other liabilities | 51,800 | 60,829 | 93,624 | ||||||||||||||||||||||||||
| Total noninterest-bearing liabilities | 1,357,522 | 1,365,528 | 1,347,825 | ||||||||||||||||||||||||||
| Stockholders' equity | 1,254,373 | 1,241,738 | 1,220,818 | ||||||||||||||||||||||||||
| Total liabilities and stockholders' equity | $ | 9,748,605 | $ | 9,653,446 | $ | 9,860,753 | |||||||||||||||||||||||
| Net interest income (tax equivalent basis) | 66,580 | 65,593 | 61,111 | ||||||||||||||||||||||||||
| Net interest spread (5) | 2.17 | % | 2.05 | % | 1.80 | % | |||||||||||||||||||||||
| Net interest margin (6) | 2.93 | % | 2.86 | % | 2.64 | % | |||||||||||||||||||||||
| Tax equivalent adjustment | (824 | ) | (882 | ) | (811 | ) | |||||||||||||||||||||||
| Net interest income | $ | 65,756 | $ | 64,711 | $ | 60,300 | |||||||||||||||||||||||
| (1) Average balances are calculated on amortized cost. | |||||||||||||||||||||||||||||
| (2) Interest income is presented on a tax equivalent basis using | |||||||||||||||||||||||||||||
| (3) Includes loan fee income. | |||||||||||||||||||||||||||||
| (4) Loans include nonaccrual loans. | |||||||||||||||||||||||||||||
| (5) Represents difference between the average yield on interest-earning assets and the average cost of interest-bearing | |||||||||||||||||||||||||||||
| liabilities and is presented on a tax equivalent basis. | |||||||||||||||||||||||||||||
| (6) Represents net interest income on a tax equivalent basis divided by average total interest-earning | |||||||||||||||||||||||||||||
| assets. | |||||||||||||||||||||||||||||
| (7) Rates are annualized. | |||||||||||||||||||||||||||||
FAQ
What was ConnectOne Bancorp's (CNOB) earnings per share in Q1 2025?
How much is ConnectOne Bancorp's (CNOB) Q1 2025 dividend payment?
What is ConnectOne Bancorp's (CNOB) net interest margin in Q1 2025?
How did ConnectOne's (CNOB) credit quality perform in Q1 2025?
When will ConnectOne (CNOB) complete its merger with The First of Long Island ?
