ConnectOne Bancorp, Inc. Reports Second Quarter 2025 Results; Declares Common and Preferred Dividends
ConnectOne Bancorp (Nasdaq: CNOB) reported Q2 2025 results, including the completion of its merger with The First of Long Island Corporation (FLIC). The company reported a net loss of $21.8 million ($-0.52 per diluted share), compared to net income of $18.7 million in Q1 2025. However, operating net income, excluding merger-related expenses and provisions, was $23.1 million ($0.55 per diluted share).
The merger, completed on June 1, 2025, transforms ConnectOne into a $14 billion regional financial institution with 61 locations. Key metrics include total loans of $11.2 billion and deposits of $11.3 billion. The Board declared a quarterly cash dividend of $0.18 per common share and $0.328125 per preferred share depositary share.
Net interest income increased 19.9% quarter-over-quarter to $79.8 million, with net interest margin expanding to 3.06%. The allowance for credit losses increased to 1.40% of loans receivable, primarily due to merger-related provisions.
ConnectOne Bancorp (Nasdaq: CNOB) ha comunicato i risultati del secondo trimestre 2025, includendo il completamento della fusione con The First of Long Island Corporation (FLIC). La società ha riportato una perdita netta di 21,8 milioni di dollari (pari a -0,52 dollari per azione diluita), rispetto a un utile netto di 18,7 milioni di dollari nel primo trimestre 2025. Tuttavia, l'utile operativo netto, escludendo le spese e le accantonamenti legati alla fusione, è stato di 23,1 milioni di dollari (0,55 dollari per azione diluita).
La fusione, completata il 1° giugno 2025, trasforma ConnectOne in un'istituzione finanziaria regionale da 14 miliardi di dollari con 61 sedi. I principali indicatori includono prestiti totali per 11,2 miliardi di dollari e depositi per 11,3 miliardi di dollari. Il Consiglio di Amministrazione ha dichiarato un dividendo trimestrale in contanti di 0,18 dollari per azione ordinaria e 0,328125 dollari per azione depositaria preferenziale.
Il reddito netto da interessi è aumentato del 19,9% rispetto al trimestre precedente, raggiungendo 79,8 milioni di dollari, con un margine netto da interessi che si è ampliato al 3,06%. L'accantonamento per perdite su crediti è salito all'1,40% dei prestiti in essere, principalmente a causa delle accantonamenti legati alla fusione.
ConnectOne Bancorp (Nasdaq: CNOB) informó los resultados del segundo trimestre de 2025, incluyendo la finalización de su fusión con The First of Long Island Corporation (FLIC). La compañía reportó una pérdida neta de 21,8 millones de dólares (-0,52 dólares por acción diluida), en comparación con una ganancia neta de 18,7 millones de dólares en el primer trimestre de 2025. Sin embargo, el ingreso neto operativo, excluyendo gastos y provisiones relacionados con la fusión, fue de 23,1 millones de dólares (0,55 dólares por acción diluida).
La fusión, completada el 1 de junio de 2025, convierte a ConnectOne en una institución financiera regional de 14 mil millones de dólares con 61 sucursales. Las métricas clave incluyen préstamos totales de 11,2 mil millones de dólares y depósitos de 11,3 mil millones de dólares. La Junta declaró un dividendo trimestral en efectivo de 0,18 dólares por acción común y 0,328125 dólares por acción depositaria preferente.
Los ingresos netos por intereses aumentaron un 19,9% trimestre a trimestre, alcanzando 79,8 millones de dólares, con un margen neto de interés que se expandió a 3,06%. La provisión para pérdidas crediticias aumentó al 1,40% de los préstamos, principalmente debido a provisiones relacionadas con la fusión.
ConnectOne Bancorp (나스닥: CNOB)는 2025년 2분기 실적을 발표하며 The First of Long Island Corporation (FLIC)과의 합병 완료를 알렸습니다. 회사는 2180만 달러의 순손실(-희석 주당 -0.52달러)을 보고했으며, 이는 2025년 1분기 1870만 달러 순이익과 비교됩니다. 그러나 합병 관련 비용 및 충당금을 제외한 영업 순이익은 2310만 달러(희석 주당 0.55달러)였습니다.
2025년 6월 1일 완료된 이번 합병으로 ConnectOne은 61개 지점을 보유한 140억 달러 규모의 지역 금융기관으로 탈바꿈했습니다. 주요 지표로는 총 대출금 112억 달러와 예금 113억 달러가 포함됩니다. 이사회는 보통주당 분기 현금 배당금 0.18달러와 우선주 예탁증서당 0.328125달러를 선언했습니다.
순이자수익은 전분기 대비 19.9% 증가하여 7980만 달러를 기록했으며, 순이자마진은 3.06%로 확대되었습니다. 대출채권에 대한 대손충당금은 주로 합병 관련 충당금으로 인해 대출금의 1.40%로 증가했습니다.
ConnectOne Bancorp (Nasdaq : CNOB) a publié ses résultats du deuxième trimestre 2025, incluant la finalisation de sa fusion avec The First of Long Island Corporation (FLIC). La société a enregistré une perte nette de 21,8 millions de dollars (-0,52 dollar par action diluée), contre un bénéfice net de 18,7 millions de dollars au premier trimestre 2025. Toutefois, le résultat net d'exploitation, hors charges et provisions liées à la fusion, s'est élevé à 23,1 millions de dollars (0,55 dollar par action diluée).
La fusion, finalisée le 1er juin 2025, transforme ConnectOne en une institution financière régionale de 14 milliards de dollars avec 61 agences. Les indicateurs clés comprennent 11,2 milliards de dollars de prêts totaux et 11,3 milliards de dollars de dépôts. Le conseil d'administration a déclaré un dividende trimestriel en espèces de 0,18 dollar par action ordinaire et de 0,328125 dollar par action dépositaire privilégiée.
Le produit net d'intérêts a augmenté de 19,9 % d'un trimestre à l'autre pour atteindre 79,8 millions de dollars, avec une marge nette d'intérêt en hausse à 3,06 %. La provision pour pertes sur crédits a augmenté pour atteindre 1,40 % des prêts, principalement en raison des provisions liées à la fusion.
ConnectOne Bancorp (Nasdaq: CNOB) berichtete die Ergebnisse für das zweite Quartal 2025 und gab die Vollendung der Fusion mit The First of Long Island Corporation (FLIC) bekannt. Das Unternehmen verzeichnete einen Nettoverlust von 21,8 Millionen US-Dollar (-0,52 US-Dollar je verwässerter Aktie), verglichen mit einem Nettogewinn von 18,7 Millionen US-Dollar im ersten Quartal 2025. Das operative Nettoergebnis ohne fusionbedingte Aufwendungen und Rückstellungen betrug jedoch 23,1 Millionen US-Dollar (0,55 US-Dollar je verwässerter Aktie).
Die Fusion, die am 1. Juni 2025 abgeschlossen wurde, verwandelt ConnectOne in eine 14 Milliarden US-Dollar große regionale Finanzinstitution mit 61 Standorten. Wichtige Kennzahlen sind Gesamtkredite von 11,2 Milliarden US-Dollar und Einlagen von 11,3 Milliarden US-Dollar. Der Vorstand erklärte eine vierteljährliche Bardividende von 0,18 US-Dollar je Stammaktie und 0,328125 US-Dollar je Vorzugsaktien-Depotanteil.
Die Nettozinserträge stiegen im Quartalsvergleich um 19,9 % auf 79,8 Millionen US-Dollar, wobei die Nettozinsmarge auf 3,06 % anstieg. Die Rückstellung für Kreditausfälle erhöhte sich auf 1,40 % der ausstehenden Kredite, hauptsächlich aufgrund fusionbedingter Rückstellungen.
- Successful completion of largest merger in company history, expanding to $14 billion in assets
- Net interest margin improved to 3.06% from 2.93% quarter-over-quarter
- Operating net income increased to $23.1 million from $19.7 million in Q1 2025
- Nonperforming assets decreased to 0.28% of total assets from 0.58% in December 2024
- Strong deposit base with loan-to-deposit ratio of 99% and noninterest-bearing deposits exceeding 21%
- Reported net loss of $21.8 million due to merger expenses and credit provisions
- Significant merger-related expenses of $30.7 million impacting quarterly results
- Required $27.4 million initial provision for credit losses related to FLIC merger
- Net loan charge-offs ratio increased to 0.22% from 0.17% in previous quarter
- Tangible book value per share decreased to $21.95 from $23.92 in December 2024
Insights
ConnectOne reported a Q2 loss due to merger costs, but underlying operating performance improved with stronger NIM and deposit metrics post-FLIC acquisition.
ConnectOne's Q2 2025 results illustrate the short-term accounting impact versus long-term strategic benefits of their transformative merger with First of Long Island (FLIC). The headline
The loss stems primarily from
The merger has already delivered tangible improvements in key banking fundamentals:
- Net interest margin expanded 13 basis points to
3.06% (including 13bps from purchase accounting accretion) - Loan-to-deposit ratio improved to
99% from historically higher levels - Noninterest-bearing deposits now exceed
21% of total deposits - Asset quality metrics improved with nonperforming assets declining to
0.28% of total assets from0.58% at year-end 2024
The merger significantly increases ConnectOne's scale, transforming it into a
While Q2 shows higher expenses and temporary earnings volatility typical in bank mergers, the foundation appears strengthened with improved deposit composition, stronger credit metrics, and better margin dynamics. The
ENGLEWOOD CLIFFS, N.J., July 29, 2025 (GLOBE NEWSWIRE) -- ConnectOne Bancorp, Inc. (Nasdaq: CNOB) (the “Company” or “ConnectOne”), parent company of ConnectOne Bank (the “Bank”), today reported a net loss available to common stockholders of
Operating net income available to common stockholders, which excludes non-operating items (primarily merger-related expenses and an initial provision for credit losses totaling
The decrease in net income available to common stockholders and diluted earnings per share during the second quarter of 2025 when compared to the first quarter of 2025 was primarily due to a
“ConnectOne’s solid second quarter reflects continued momentum in executing our strategy and the integration of the largest merger in our Company's history,” commented Frank Sorrentino, Chairman and Chief Executive Officer of ConnectOne. “Following completion of the merger on June 1st, we immediately opened as a unified organization with one team, and fully deployed the ConnectOne brand across our new markets. This transformational merger establishes ConnectOne as a
“The merger and the addition of our new team members continues to exceed expectations. Our core systems conversion was successfully completed, and our client-centric execution has resulted in strong client retention. We’ve also seen steady momentum in new client onboarding, reinforcing the complementary nature of both organizations.” Mr. Sorrentino added, “Operationally, the merger has significantly improved our loan and deposit mix, net interest margin, credit metrics, and profitability ratios. At June 30, 2025 total loans were
“I’m incredibly proud of how seamlessly our teams have come together as one organization, with a shared commitment to client success and operational excellence. We believe these early results reflect the compelling value of the transaction and reinforce our confidence in the long-term potential of the combined franchise,” Mr. Sorrentino concluded.
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 second quarter of 2025 was
Fully taxable equivalent net interest income for the second quarter of 2025 increased
Noninterest income was
Noninterest expenses were
There was a net income tax benefit of
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
The allowance for credit losses represented
Selected Balance Sheet Items
As of June 30, 2025, the balance sheet reflected the merger with FLIC. 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.
Second Quarter 2025 Results Conference Call
Management will also host a conference call and audio webcast at 10:00 a.m. ET on July 29, 2025 to review the Company's financial performance and operating results. The conference call dial-in number is 1 (646) 307-1963, access code 7519286. 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 Tuesday, July 29, 2025 and ending on Tuesday, August 5, 2025 by dialing 1 (609) 800-9909, access code 7519286. 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) | |||||||||||
| June 30 | December 31, | June 30 | |||||||||
| 2025 | 2024 | 2024 | |||||||||
| (unaudited) | (unaudited) | ||||||||||
| ASSETS | |||||||||||
| Cash and due from banks | $ | 97,792 | $ | 57,816 | $ | 47,105 | |||||
| Interest-bearing deposits with banks | 498,741 | 298,672 | 246,408 | ||||||||
| Cash and cash equivalents | 596,533 | 356,488 | 293,513 | ||||||||
| Investment securities | 1,227,200 | 612,847 | 620,579 | ||||||||
| Equity securities | 19,707 | 20,092 | 19,743 | ||||||||
| Loans held-for-sale | 1,027 | 743 | 435 | ||||||||
| Loans receivable | 11,164,477 | 8,274,810 | 8,157,903 | ||||||||
| Less: Allowance for credit losses - loans | 156,190 | 82,685 | 82,077 | ||||||||
| Net loans receivable | 11,008,287 | 8,192,125 | 8,075,826 | ||||||||
| Investment in restricted stock, at cost | 49,248 | 40,449 | 43,403 | ||||||||
| Bank premises and equipment, net | 54,297 | 28,447 | 28,881 | ||||||||
| Accrued interest receivable | 60,950 | 45,498 | 48,262 | ||||||||
| Bank owned life insurance | 364,836 | 243,672 | 240,985 | ||||||||
| Right of use operating lease assets | 31,282 | 14,489 | 13,359 | ||||||||
| Goodwill | 215,611 | 208,372 | 208,372 | ||||||||
| Core deposit intangibles | 66,315 | 4,639 | 5,232 | ||||||||
| Other assets | 220,445 | 111,739 | 125,141 | ||||||||
| Total assets | $ | 13,915,738 | $ | 9,879,600 | $ | 9,723,731 | |||||
| LIABILITIES | |||||||||||
| Deposits: | |||||||||||
| Noninterest-bearing | $ | 2,424,529 | $ | 1,422,044 | $ | 1,268,882 | |||||
| Interest-bearing | 8,853,958 | 6,398,070 | 6,307,132 | ||||||||
| Total deposits | 11,278,487 | 7,820,114 | 7,576,014 | ||||||||
| Borrowings | 783,859 | 688,064 | 756,144 | ||||||||
| Subordinated debentures, net | 276,500 | 79,944 | 79,692 | ||||||||
| Operating lease liabilities | 35,334 | 15,498 | 14,435 | ||||||||
| Other liabilities | 45,127 | 34,276 | 73,219 | ||||||||
| Total liabilities | 12,419,307 | 8,637,896 | 8,499,504 | ||||||||
| COMMITMENTS AND CONTINGENCIES | |||||||||||
| STOCKHOLDERS' EQUITY | |||||||||||
| Preferred stock | 110,927 | 110,927 | 110,927 | ||||||||
| Common stock | 857,765 | 586,946 | 586,946 | ||||||||
| Additional paid-in capital | 36,728 | 36,347 | 33,955 | ||||||||
| Retained earnings | 614,532 | 631,446 | 610,759 | ||||||||
| Treasury stock | (76,116 | ) | (76,116 | ) | (76,116 | ) | |||||
| Accumulated other comprehensive loss | (47,405 | ) | (47,846 | ) | (42,244 | ) | |||||
| Total stockholders' equity | 1,496,431 | 1,241,704 | 1,224,227 | ||||||||
| Total liabilities and stockholders' equity | $ | 13,915,738 | $ | 9,879,600 | $ | 9,723,731 | |||||
| CONNECTONE BANCORP, INC. AND SUBSIDIARIES | |||||||||||||||
| CONSOLIDATED STATEMENTS OF INCOME | |||||||||||||||
| (dollars in thousands, except for per share data) | |||||||||||||||
| Three Months Ended | Six Months Ended | ||||||||||||||
| 06/30/25 | 06/30/24 | 06/30/25 | 06/30/24 | ||||||||||||
| Interest income | |||||||||||||||
| Interest and fees on loans | $ | 132,316 | $ | 120,145 | $ | 247,667 | $ | 240,233 | |||||||
| Interest and dividends on investment securities: | |||||||||||||||
| Taxable | 7,437 | 4,683 | 12,424 | 9,017 | |||||||||||
| Tax-exempt | 1,419 | 1,121 | 2,516 | 2,275 | |||||||||||
| Dividends | 788 | 1,217 | 1,677 | 2,342 | |||||||||||
| Interest on federal funds sold and other short-term investments | 4,070 | 2,841 | 6,535 | 5,747 | |||||||||||
| Total interest income | 146,030 | 130,007 | 270,819 | 259,614 | |||||||||||
| Interest expense | |||||||||||||||
| Deposits | 60,239 | 62,086 | 114,231 | 122,493 | |||||||||||
| Borrowings | 6,908 | 6,482 | 11,949 | 15,382 | |||||||||||
| Total interest expense | 67,147 | 68,568 | 126,180 | 137,875 | |||||||||||
| Net interest income | 78,883 | 61,439 | 144,639 | 121,739 | |||||||||||
| Provision for credit losses | 35,700 | 2,500 | 39,200 | 6,500 | |||||||||||
| Net interest income after provision for credit losses | 43,183 | 58,939 | 105,439 | 115,239 | |||||||||||
| Noninterest income | |||||||||||||||
| Deposit, loan and other income | 2,570 | 1,654 | 4,576 | 3,246 | |||||||||||
| Income on bank owned life insurance | 2,087 | 1,677 | 3,671 | 3,341 | |||||||||||
| Net gains on sale of loans held-for-sale | 181 | 1,277 | 513 | 1,783 | |||||||||||
| Net gains (losses) on equity securities | 347 | (209 | ) | 876 | (123 | ) | |||||||||
| Total noninterest income | 5,185 | 4,399 | 9,636 | 8,247 | |||||||||||
| Noninterest expenses | |||||||||||||||
| Salaries and employee benefits | 25,233 | 22,721 | 47,811 | 44,852 | |||||||||||
| Occupancy and equipment | 3,478 | 2,899 | 6,158 | 5,908 | |||||||||||
| FDIC insurance | 2,000 | 1,800 | 3,800 | 3,600 | |||||||||||
| Professional and consulting | 2,598 | 1,923 | 4,964 | 3,851 | |||||||||||
| Marketing and advertising | 840 | 613 | 1,435 | 1,290 | |||||||||||
| Information technology and communications | 4,792 | 4,198 | 9,396 | 8,587 | |||||||||||
| Merger expenses | 30,745 | - | 32,065 | - | |||||||||||
| Bank owned life insurance restructuring charge | - | - | 327 | - | |||||||||||
| Amortization of core deposit intangibles | 1,251 | 321 | 1,530 | 642 | |||||||||||
| Other expenses | 2,712 | 3,119 | 5,468 | 5,929 | |||||||||||
| Total noninterest expenses | 73,649 | 37,594 | 112,954 | 74,659 | |||||||||||
| (Loss) income before income tax expense | (25,281 | ) | 25,744 | 2,121 | 48,827 | ||||||||||
| Income tax (benefit) expense | (4,988 | ) | 6,688 | 2,172 | 12,566 | ||||||||||
| Net (loss) income | (20,293 | ) | 19,056 | (51 | ) | 36,261 | |||||||||
| Preferred dividends | 1,509 | 1,509 | 3,018 | 3,018 | |||||||||||
| Net (loss) income available to common stockholders | $ | (21,802 | ) | $ | 17,547 | $ | (3,069 | ) | $ | 33,243 | |||||
| Earnings per common share: | |||||||||||||||
| Basic | $ | (0.52 | ) | $ | 0.46 | $ | (0.08 | ) | $ | 0.87 | |||||
| Diluted | (0.52 | ) | 0.46 | (0.08 | ) | 0.86 | |||||||||
| 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 | ||||||||||||||||||||
| Jun. 30, | Mar. 31, | Dec. 31, | Sept. 30, | Jun. 30, | ||||||||||||||||
| 2025 | 2025 | 2024 | 2024 | 2024 | ||||||||||||||||
| Selected Financial Data | (dollars in thousands) | |||||||||||||||||||
| Total assets | $ | 13,915,738 | $ | 9,759,255 | $ | 9,879,600 | $ | 9,639,603 | $ | 9,723,731 | ||||||||||
| Loans receivable: | ||||||||||||||||||||
| Commercial | 1,597,590 | $ | 1,483,392 | $ | 1,522,308 | $ | 1,505,743 | $ | 1,491,079 | |||||||||||
| Commercial real estate | 4,285,663 | 3,356,943 | 3,384,319 | 3,261,160 | 3,274,941 | |||||||||||||||
| Multifamily | 3,348,308 | 2,490,256 | 2,506,782 | 2,482,258 | 2,499,581 | |||||||||||||||
| Commercial construction | 681,222 | 617,593 | 616,246 | 616,087 | 639,168 | |||||||||||||||
| Residential | 1,254,646 | 256,555 | 249,691 | 250,249 | 256,786 | |||||||||||||||
| Consumer | 1,709 | 1,604 | 1,136 | 835 | 945 | |||||||||||||||
| Gross loans | 11,169,138 | 8,206,343 | 8,280,482 | 8,116,332 | 8,162,500 | |||||||||||||||
| Net deferred loan fees | (4,661 | ) | (5,209 | ) | (5,672 | ) | (4,356 | ) | (4,597 | ) | ||||||||||
| Loans receivable | 11,164,477 | 8,201,134 | 8,274,810 | 8,111,976 | 8,157,903 | |||||||||||||||
| Loans held-for-sale | 1,027 | 202 | 743 | - | 435 | |||||||||||||||
| Total loans | $ | 11,165,504 | $ | 8,201,336 | $ | 8,275,553 | $ | 8,111,976 | $ | 8,158,338 | ||||||||||
| Investment and equity securities | $ | 1,246,907 | $ | 655,665 | $ | 632,939 | $ | 667,112 | $ | 640,322 | ||||||||||
| Goodwill and other intangible assets | 281,926 | 212,732 | 213,011 | 213,307 | 213,604 | |||||||||||||||
| Deposits: | ||||||||||||||||||||
| Noninterest-bearing demand | $ | 2,424,529 | $ | 1,319,196 | $ | 1,422,044 | $ | 1,262,568 | $ | 1,268,882 | ||||||||||
| Time deposits | 3,065,015 | 2,550,223 | 2,557,200 | 2,614,187 | 2,593,165 | |||||||||||||||
| Other interest-bearing deposits | 5,788,943 | 3,897,811 | 3,840,870 | 3,647,350 | 3,713,967 | |||||||||||||||
| Total deposits | $ | 11,278,487 | $ | 7,767,230 | $ | 7,820,114 | $ | 7,524,105 | $ | 7,576,014 | ||||||||||
| Borrowings | $ | 783,859 | $ | 613,053 | $ | 688,064 | $ | 742,133 | $ | 756,144 | ||||||||||
| Subordinated debentures (net of debt issuance costs) | 276,500 | 80,071 | 79,944 | 79,818 | 79,692 | |||||||||||||||
| Total stockholders' equity | 1,496,431 | 1,252,939 | 1,241,704 | 1,239,496 | 1,224,227 | |||||||||||||||
| Quarterly Average Balances | ||||||||||||||||||||
| Total assets | $ | 11,108,430 | $ | 9,748,605 | $ | 9,563,446 | $ | 9,742,853 | $ | 9,745,853 | ||||||||||
| Loans receivable: | ||||||||||||||||||||
| Commercial | $ | 1,486,245 | $ | 1,488,962 | $ | 1,487,850 | $ | 1,485,777 | $ | 1,517,446 | ||||||||||
| Commercial real estate (including multifamily) | 6,404,302 | 5,852,342 | 5,733,188 | 5,752,467 | 5,789,498 | |||||||||||||||
| Commercial construction | 643,115 | 610,859 | 631,022 | 628,740 | 652,227 | |||||||||||||||
| Residential | 587,118 | 256,430 | 250,589 | 252,975 | 254,284 | |||||||||||||||
| Consumer | 5,759 | 5,687 | 5,204 | 7,887 | 5,155 | |||||||||||||||
| Gross loans | 9,126,539 | 8,214,280 | 8,107,853 | 8,127,846 | 8,218,610 | |||||||||||||||
| Net deferred loan fees | (5,097 | ) | (5,525 | ) | (4,727 | ) | (4,513 | ) | (5,954 | ) | ||||||||||
| Loans receivable | 9,121,442 | 8,208,755 | 8,103,126 | 8,123,333 | 8,212,656 | |||||||||||||||
| Loans held-for-sale | 352 | 259 | 498 | 83 | 169 | |||||||||||||||
| Total loans | $ | 9,121,794 | $ | 8,209,014 | $ | 8,103,624 | $ | 8,123,416 | $ | 8,212,825 | ||||||||||
| Investment and equity securities | $ | 845,614 | $ | 655,191 | $ | 653,988 | $ | 650,897 | $ | 637,551 | ||||||||||
| Goodwill and other intangible assets | 235,848 | 212,915 | 213,205 | 213,502 | 213,813 | |||||||||||||||
| Deposits: | ||||||||||||||||||||
| Noninterest-bearing demand | $ | 1,680,653 | $ | 1,305,722 | $ | 1,304,699 | $ | 1,259,912 | $ | 1,256,251 | ||||||||||
| Time deposits | 2,662,411 | 2,480,990 | 2,478,163 | 2,625,329 | 2,587,706 | |||||||||||||||
| Other interest-bearing deposits | 4,463,648 | 3,888,131 | 3,838,575 | 3,747,427 | 3,721,167 | |||||||||||||||
| Total deposits | $ | 8,806,712 | $ | 7,674,843 | $ | 7,621,437 | $ | 7,632,668 | $ | 7,565,124 | ||||||||||
| Borrowings | $ | 723,303 | $ | 686,391 | $ | 648,300 | $ | 717,586 | $ | 787,256 | ||||||||||
| Subordinated debentures (net of debt issuance costs) | 170,802 | 79,988 | 79,862 | 79,735 | 79,609 | |||||||||||||||
| Total stockholders' equity | 1,344,254 | 1,254,373 | 1,241,738 | 1,234,724 | 1,220,621 | |||||||||||||||
| Three Months Ended | ||||||||||||||||||||
| Jun. 30, | Mar. 31, | Dec. 31, | Sept. 30, | Jun. 30, | ||||||||||||||||
| 2025 | 2025 | 2024 | 2024 | 2024 | ||||||||||||||||
| (dollars in thousands, except for per share data) | ||||||||||||||||||||
| Net interest income | $ | 78,883 | $ | 65,756 | $ | 64,711 | $ | 60,887 | $ | 61,439 | ||||||||||
| Provision for credit losses | 35,700 | 3,500 | 3,500 | 3,800 | 2,500 | |||||||||||||||
| Net interest income after provision for credit losses | 43,183 | 62,256 | 61,211 | 57,087 | 58,939 | |||||||||||||||
| Noninterest income | ||||||||||||||||||||
| Deposit, loan and other income | 2,570 | 2,006 | 1,798 | 1,817 | 1,654 | |||||||||||||||
| Income on bank owned life insurance | 2,087 | 1,584 | 1,656 | 2,145 | 1,677 | |||||||||||||||
| Net gains on sale of loans held-for-sale | 181 | 332 | 597 | 343 | 1,277 | |||||||||||||||
| Net gains (losses) on equity securities | 347 | 529 | (307 | ) | 432 | (209 | ) | |||||||||||||
| Total noninterest income | 5,185 | 4,451 | 3,744 | 4,737 | 4,399 | |||||||||||||||
| Noninterest expenses | ||||||||||||||||||||
| Salaries and employee benefits | 25,233 | 22,578 | 22,244 | 22,957 | 22,721 | |||||||||||||||
| Occupancy and equipment | 3,478 | 2,680 | 2,818 | 2,889 | 2,899 | |||||||||||||||
| FDIC insurance | 2,000 | 1,800 | 1,800 | 1,800 | 1,800 | |||||||||||||||
| Professional and consulting | 2,598 | 2,366 | 2,449 | 2,147 | 1,923 | |||||||||||||||
| Marketing and advertising | 840 | 595 | 495 | 635 | 613 | |||||||||||||||
| Information technology and communications | 4,792 | 4,604 | 4,523 | 4,464 | 4,198 | |||||||||||||||
| Merger expenses | 30,745 | 1,320 | 863 | 742 | - | |||||||||||||||
| Branch closing expenses | - | - | 477 | - | - | |||||||||||||||
| Bank owned life insurance restructuring charge | - | 327 | - | - | - | |||||||||||||||
| Amortization of core deposit intangible | 1,251 | 279 | 296 | 297 | 321 | |||||||||||||||
| Other expenses | 2,712 | 2,756 | 2,533 | 2,710 | 3,119 | |||||||||||||||
| Total noninterest expenses | 73,649 | 39,305 | 38,498 | 38,641 | 37,594 | |||||||||||||||
| (Loss) income before income tax expense | (25,281 | ) | 27,402 | 26,457 | 23,183 | 25,744 | ||||||||||||||
| Income tax (benefit) expense | (4,988 | ) | 7,160 | 6,086 | 6,022 | 6,688 | ||||||||||||||
| Net (loss) income | (20,293 | ) | 20,242 | 20,371 | 17,161 | 19,056 | ||||||||||||||
| Preferred dividends | 1,509 | 1,509 | 1,509 | 1,509 | 1,509 | |||||||||||||||
| Net (loss) income available to common stockholders | $ | (21,802 | ) | $ | 18,733 | $ | 18,862 | $ | 15,652 | $ | 17,547 | |||||||||
| Weighted average diluted common shares outstanding | 42,173,758 | 38,511,237 | 38,519,581 | 38,525,484 | 38,448,594 | |||||||||||||||
| Diluted EPS | $ | (0.52 | ) | $ | 0.49 | $ | 0.49 | $ | 0.41 | $ | 0.46 | |||||||||
| Reconciliation of GAAP Net Income to Operating Net Income: | ||||||||||||||||||||
| Net (loss) income | $ | (20,293 | ) | $ | 20,242 | $ | 20,371 | $ | 17,161 | $ | 19,056 | |||||||||
| Merger expenses | 30,745 | 1,320 | 863 | 742 | - | |||||||||||||||
| Estimated state tax liability on intercompany dividends | 3,000 | - | - | - | - | |||||||||||||||
| Initial provision for credit losses related to merger | 27,418 | - | - | - | - | |||||||||||||||
| Branch closing expenses | - | - | 477 | - | - | |||||||||||||||
| Bank owned life insurance restructuring charge | - | 327 | - | - | - | |||||||||||||||
| Amortization of core deposit intangibles | 1,251 | 279 | 296 | 297 | 321 | |||||||||||||||
| Net (gains) losses on equity securities | (347 | ) | (529 | ) | 307 | (432 | ) | 209 | ||||||||||||
| Tax impact of adjustments | (17,168 | ) | (420 | ) | (585 | ) | (171 | ) | (149 | ) | ||||||||||
| Operating net income | $ | 24,606 | $ | 21,219 | $ | 21,729 | $ | 17,597 | $ | 19,437 | ||||||||||
| Preferred dividends | 1,509 | 1,509 | 1,509 | 1,509 | 1,509 | |||||||||||||||
| Operating net income available to common stockholders | $ | 23,097 | $ | 19,710 | $ | 20,220 | $ | 16,088 | $ | 17,928 | ||||||||||
| Operating diluted EPS (non-GAAP)(1) | $ | 0.55 | $ | 0.51 | $ | 0.52 | $ | 0.42 | $ | 0.47 | ||||||||||
| Return on Assets Measures | ||||||||||||||||||||
| Average assets | $ | 11,108,430 | $ | 9,748,605 | $ | 9,653,446 | $ | 9,742,853 | $ | 9,745,853 | ||||||||||
| Return on avg. assets | (0.73 | ) | % | 0.84 | % | 0.84 | % | 0.70 | % | 0.79 | % | |||||||||
| Operating return on avg. assets (non-GAAP)(2) | 0.89 | 0.88 | 0.90 | 0.72 | 0.80 | |||||||||||||||
| Pre provision net operating revenue ("PPNR") return on avg. assets (non-GAAP)(3) | 1.47 | 1.33 | 1.28 | 1.11 | 1.17 | |||||||||||||||
| (1)Operating net income available to common stockholders divided by weighted average diluted shares outstanding. | ||||||||||||||||||||
| (2)Operating net income divided by average assets. | ||||||||||||||||||||
| (3)Net income before income tax expense, provision for credit losses, merger charges, BOLI restructuring charges and net gains on equity securities divided by average assets. | ||||||||||||||||||||
| Three Months Ended | ||||||||||||||||||||
| Jun. 30, | Mar. 31, | Dec. 31, | Sept. 30, | Jun. 30, | ||||||||||||||||
| 2025 | 2025 | 2024 | 2024 | 2024 | ||||||||||||||||
| Return on Equity Measures | (dollars in thousands) | |||||||||||||||||||
| Average stockholders' equity | $ | 1,344,254 | $ | 1,254,373 | $ | 1,241,738 | $ | 1,234,724 | $ | 1,220,621 | ||||||||||
| Less: average preferred stock | (110,927 | ) | (110,927 | ) | (110,927 | ) | (110,927 | ) | (110,927 | ) | ||||||||||
| Average common equity | $ | 1,233,327 | $ | 1,143,446 | $ | 1,130,811 | $ | 1,123,797 | $ | 1,109,694 | ||||||||||
| Less: average intangible assets | (235,848 | ) | (212,915 | ) | (213,205 | ) | (213,502 | ) | (213,813 | ) | ||||||||||
| Average tangible common equity | $ | 997,479 | $ | 930,531 | $ | 917,606 | $ | 910,295 | $ | 895,881 | ||||||||||
| Return on avg. common equity (GAAP) | (7.09 | ) | % | 6.64 | % | 6.64 | % | 5.54 | % | 6.36 | % | |||||||||
| Operating return on avg. common equity (non-GAAP)(4) | 7.51 | 6.99 | 7.11 | 5.70 | 6.50 | |||||||||||||||
| Return on avg. tangible common equity (non-GAAP)(5) | (8.42 | ) | 8.25 | 8.27 | 6.93 | 7.98 | ||||||||||||||
| Operating return on avg. tangible common equity (non-GAAP)(6) | 9.29 | 8.59 | 8.77 | 7.03 | 8.05 | |||||||||||||||
| Efficiency Measures | ||||||||||||||||||||
| Total noninterest expenses | $ | 73,649 | $ | 39,305 | $ | 38,498 | $ | 38,641 | $ | 37,594 | ||||||||||
| Merger expenses | (30,745 | ) | (1,320 | ) | (863 | ) | (742 | ) | - | |||||||||||
| Branch closing expenses | - | - | (477 | ) | - | - | ||||||||||||||
| Bank owned life insurance restructuring charge | - | (327 | ) | - | - | - | ||||||||||||||
| Amortization of core deposit intangibles | (1,251 | ) | (279 | ) | (296 | ) | (297 | ) | (321 | ) | ||||||||||
| Operating noninterest expense | $ | 41,653 | $ | 37,379 | $ | 36,862 | $ | 37,602 | $ | 37,273 | ||||||||||
| Net interest income (tax equivalent basis) | $ | 79,810 | $ | 66,580 | $ | 65,593 | $ | 61,710 | $ | 62,255 | ||||||||||
| Noninterest income | 5,185 | 4,451 | 3,744 | 4,737 | 4,399 | |||||||||||||||
| Net (gains) losses on equity securities | (347 | ) | (529 | ) | 307 | (432 | ) | 209 | ||||||||||||
| Operating revenue | $ | 84,648 | $ | 70,502 | $ | 69,644 | $ | 66,015 | $ | 66,863 | ||||||||||
| Operating efficiency ratio (non-GAAP)(7) | 49.2 | % | 53.0 | % | 52.9 | % | 57.0 | % | 55.7 | % | ||||||||||
| Net Interest Margin | ||||||||||||||||||||
| Average interest-earning assets | $ | 10,468,589 | $ | 9,224,712 | $ | 9,117,201 | $ | 9,206,038 | $ | 9,210,050 | ||||||||||
| Net interest income (tax equivalent basis) | $ | 79,810 | $ | 66,580 | $ | 65,593 | $ | 61,710 | $ | 62,255 | ||||||||||
| Net interest margin (non-GAAP) | 3.06 | % | 2.93 | % | 2.86 | % | 2.67 | % | 2.72 | % | ||||||||||
| (4)Operating net income available to common stockholders divided by average common equity. | ||||||||||||||||||||
| (5)Net income available to common stockholders, excluding amortization of intangible assets, divided by average tangible common equity. | ||||||||||||||||||||
| (6)Operating net income available to common stockholders, divided by average tangible common equity. | ||||||||||||||||||||
| (7)Operating noninterest expense divided by operating revenue. | ||||||||||||||||||||
| As of | ||||||||||||||||||||
| Jun. 30, | Mar. 31, | Dec. 31, | Sept. 30, | Jun. 30, | ||||||||||||||||
| 2025 | 2025 | 2024 | 2024 | 2024 | ||||||||||||||||
| Capital Ratios and Book Value per Share | (dollars in thousands, except for per share data) | |||||||||||||||||||
| Stockholders equity | $ | 1,496,431 | $ | 1,252,939 | $ | 1,241,704 | $ | 1,239,496 | $ | 1,224,227 | ||||||||||
| Less: preferred stock | (110,927 | ) | (110,927 | ) | (110,927 | ) | (110,927 | ) | (110,927 | ) | ||||||||||
| Common equity | $ | 1,385,504 | $ | 1,142,012 | $ | 1,130,777 | $ | 1,128,569 | $ | 1,113,300 | ||||||||||
| Less: intangible assets | (281,926 | ) | (212,732 | ) | (213,011 | ) | (213,307 | ) | (213,604 | ) | ||||||||||
| Tangible common equity | $ | 1,103,578 | $ | 929,280 | $ | 917,766 | $ | 915,262 | $ | 899,696 | ||||||||||
| Total assets | $ | 13,915,738 | $ | 9,759,255 | $ | 9,879,600 | $ | 9,639,603 | $ | 9,723,731 | ||||||||||
| Less: intangible assets | (281,926 | ) | (212,732 | ) | (213,011 | ) | (213,307 | ) | (213,604 | ) | ||||||||||
| Tangible assets | $ | 13,633,812 | $ | 9,546,523 | $ | 9,666,589 | $ | 9,426,296 | $ | 9,510,127 | ||||||||||
| Common shares outstanding | 50,270,162 | 38,469,975 | 38,370,317 | 38,368,217 | 38,365,069 | |||||||||||||||
| Common equity ratio (GAAP) | 9.96 | % | 11.70 | % | 11.45 | % | 11.71 | % | 11.45 | % | ||||||||||
| Tangible common equity ratio (non-GAAP)(8) | 8.09 | 9.73 | 9.49 | 9.71 | 9.46 | |||||||||||||||
| Regulatory capital ratios (Bancorp): | ||||||||||||||||||||
| Leverage ratio | 9.25 | % | 11.33 | % | 11.33 | % | 11.10 | % | 10.97 | % | ||||||||||
| Common equity Tier 1 risk-based ratio | 10.04 | 11.14 | 10.97 | 11.07 | 10.90 | |||||||||||||||
| Risk-based Tier 1 capital ratio | 11.06 | 12.46 | 12.29 | 12.42 | 12.25 | |||||||||||||||
| Risk-based total capital ratio | 14.35 | 14.29 | 14.11 | 14.29 | 14.10 | |||||||||||||||
| Regulatory capital ratios (Bank): | ||||||||||||||||||||
| Leverage ratio | 10.22 | % | 11.67 | % | 11.66 | % | 11.43 | % | 11.29 | % | ||||||||||
| Common equity Tier 1 risk-based ratio | 12.22 | 12.82 | 12.63 | 12.79 | 12.60 | |||||||||||||||
| Risk-based Tier 1 capital ratio | 12.22 | 12.82 | 12.63 | 12.79 | 12.60 | |||||||||||||||
| Risk-based total capital ratio | 13.24 | 13.79 | 13.60 | 13.77 | 13.58 | |||||||||||||||
| Book value per share (GAAP) | $ | 27.56 | $ | 29.69 | $ | 29.47 | $ | 29.41 | $ | 29.02 | ||||||||||
| Tangible book value per share (non-GAAP)(9) | 21.95 | 24.16 | 23.92 | 23.85 | 23.45 | |||||||||||||||
| Net Loan Charge-offs (Recoveries): | ||||||||||||||||||||
| Net loan charge-offs (recoveries): | ||||||||||||||||||||
| Charge-offs | $ | 5,039 | $ | 3,555 | $ | 3,363 | $ | 3,559 | $ | 3,595 | ||||||||||
| Recoveries | (118 | ) | (155 | ) | (29 | ) | (53 | ) | (324 | ) | ||||||||||
| Net loan charge-offs | $ | 4,921 | $ | 3,400 | $ | 3,334 | $ | 3,506 | $ | 3,271 | ||||||||||
| Net loan charge-offs as a % of average loans receivable (annualized) | 0.22 | % | 0.17 | % | 0.16 | % | 0.17 | % | 0.16 | % | ||||||||||
| Asset Quality | ||||||||||||||||||||
| Nonaccrual loans | $ | 39,228 | $ | 49,860 | $ | 57,310 | $ | 51,300 | $ | 46,026 | ||||||||||
| Other real estate owned | - | - | - | - | - | |||||||||||||||
| Nonperforming assets | $ | 39,228 | $ | 49,860 | $ | 57,310 | $ | 51,300 | $ | 46,026 | ||||||||||
| Allowance for credit losses - loans ("ACL") | $ | 156,190 | $ | 82,403 | $ | 82,685 | $ | 82,494 | $ | 82,077 | ||||||||||
| Less: nonaccretable credit marks | 43,336 | 173 | 173 | 173 | 173 | |||||||||||||||
| ACL excluding nonaccretable credit marks | $ | 112,854 | $ | 82,230 | $ | 82,512 | $ | 82,321 | $ | 81,904 | ||||||||||
| Loans receivable | 11,164,477 | 8,201,134 | 8,274,810 | 8,111,976 | 8,157,903 | |||||||||||||||
| Nonaccrual loans as a % of loans receivable | 0.35 | % | 0.61 | % | 0.69 | % | 0.63 | % | 0.56 | % | ||||||||||
| Nonperforming assets as a % of total assets | 0.28 | 0.51 | 0.58 | 0.53 | 0.47 | |||||||||||||||
| ACL as a % of loans receivable | 1.40 | 1.00 | 1.00 | 1.02 | 1.01 | |||||||||||||||
| ACL excluding nonaccretable credit marks as a % of loans receivable | 1.01 | 1.00 | 1.00 | 1.01 | 1.00 | |||||||||||||||
| ACL as a % of nonaccrual loans | 398.2 | 165.3 | 144.3 | 160.8 | 178.3 | |||||||||||||||
| (8)Tangible common equity divided by tangible assets | ||||||||||||||||||||
| (9)Tangible common equity divided by common shares outstanding at period-end | ||||||||||||||||||||
| CONNECTONE BANCORP, INC. | ||||||||||||||||||||||||||
| NET INTEREST MARGIN ANALYSIS | ||||||||||||||||||||||||||
| (dollars in thousands) | ||||||||||||||||||||||||||
| For the Three Months Ended | ||||||||||||||||||||||||||
| June 30, 2025 | March 31, 2025 | June 30, 2024 | ||||||||||||||||||||||||
| Average | Average | Average | ||||||||||||||||||||||||
| Interest-earning assets: | Balance | Interest | Rate(7) | Balance | Interest | Rate(7) | Balance | Interest | Rate(7) | |||||||||||||||||
| Investment securities(1) (2) | $ | 935,996 | $ | 9,234 | 3.96 | % | $ | 745,873 | $ | 6,375 | 3.47 | % | $ | 739,591 | $ | 6,102 | 3.32 | % | ||||||||
| Loans receivable and loans held-for-sale(2) (3) (4) | 9,121,794 | 132,865 | 5.84 | 8,209,014 | 115,883 | 5.73 | 8,212,825 | 120,663 | 5.91 | |||||||||||||||||
| Federal funds sold and interest- | ||||||||||||||||||||||||||
| bearing deposits with banks | 367,309 | 4,070 | 4.44 | 229,491 | 2,466 | 4.36 | 212,811 | 2,841 | 5.37 | |||||||||||||||||
| Restricted investment in bank stock | 43,490 | 788 | 7.27 | 40,334 | 889 | 8.94 | 44,823 | 1,217 | 10.92 | |||||||||||||||||
| Total interest-earning assets | 10,468,589 | 146,957 | 5.63 | 9,224,712 | 125,613 | 5.52 | 9,210,050 | 130,823 | 5.71 | |||||||||||||||||
| Allowance for loan losses | (98,030 | ) | (82,027 | ) | (84,681 | ) | ||||||||||||||||||||
| Noninterest-earning assets | 737,871 | 607,920 | 620,484 | |||||||||||||||||||||||
| Total assets | $ | 11,108,430 | $ | 9,750,605 | $ | 9,745,853 | ||||||||||||||||||||
| Interest-bearing liabilities: | ||||||||||||||||||||||||||
| Money market deposits | 2,016,336 | 15,467 | 3.08 | 1,572,287 | 11,287 | 2.91 | 1,554,210 | 13,099 | 3.39 | |||||||||||||||||
| Savings deposits | 777,951 | 6,172 | 3.18 | 656,789 | 5,227 | 3.23 | 481,033 | 3,893 | 3.25 | |||||||||||||||||
| Time deposits | 2,662,411 | 26,636 | 4.01 | 2,480,990 | 25,154 | 4.11 | 2,587,706 | 28,898 | 4.49 | |||||||||||||||||
| Other interest-bearing deposits | 1,669,361 | 11,964 | 2.87 | 1,659,055 | 12,324 | 3.01 | 1,685,924 | 16,196 | 3.86 | |||||||||||||||||
| Total interest-bearing deposits | 7,126,059 | 60,239 | 3.39 | 6,369,121 | 53,992 | 3.44 | 6,308,873 | 62,086 | 3.96 | |||||||||||||||||
| Borrowings | 723,303 | 3,530 | 1.96 | 686,391 | 3,725 | 2.20 | 787,256 | 5,150 | 2.63 | |||||||||||||||||
| Subordinated debentures | 170,802 | 3,361 | 7.89 | 79,988 | 1,298 | 6.58 | 79,609 | 1,311 | 6.62 | |||||||||||||||||
| Finance lease | 1,139 | 17 | 5.99 | 1,210 | 18 | 6.03 | 1,416 | 21 | 5.96 | |||||||||||||||||
| Total interest-bearing liabilities | 8,021,303 | 67,147 | 3.36 | 7,136,710 | 59,033 | 3.35 | 7,177,154 | 68,568 | 3.84 | |||||||||||||||||
| Noninterest-bearing demand deposits | 1,680,653 | 1,305,722 | 1,256,251 | |||||||||||||||||||||||
| Other liabilities | 62,220 | 51,800 | 91,827 | |||||||||||||||||||||||
| Total noninterest-bearing liabilities | 1,742,873 | 1,357,522 | 1,348,078 | |||||||||||||||||||||||
| Stockholders' equity | 1,344,254 | 1,254,373 | 1,220,621 | |||||||||||||||||||||||
| Total liabilities and stockholders' equity | $ | 11,108,430 | $ | 9,748,605 | $ | 9,745,853 | ||||||||||||||||||||
| Net interest income (tax equivalent basis) | 79,810 | 66,580 | 62,255 | |||||||||||||||||||||||
| Net interest spread(5) | 2.27 | % | 2.17 | % | 1.87 | % | ||||||||||||||||||||
| Net interest margin(6) | 3.06 | % | 2.93 | % | 2.72 | % | ||||||||||||||||||||
| Tax equivalent adjustment | (927 | ) | (824 | ) | (816 | ) | ||||||||||||||||||||
| Net interest income | $ | 78,883 | $ | 65,756 | $ | 61,439 | ||||||||||||||||||||
| (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 were ConnectOne Bancorp's (CNOB) Q2 2025 earnings results?
How much did ConnectOne's merger with First of Long Island Corporation impact Q2 2025 results?
What is ConnectOne's (CNOB) dividend payment for Q2 2025?
What was ConnectOne's (CNOB) net interest margin in Q2 2025?
How large is ConnectOne Bancorp following the FLIC merger?
