Connectone Bancorp Inc Stock Price, News & Analysis

ConnectOne Bank, a subsidiary of ConnectOne Bancorp (NASDAQ: CNOB), has partnered with MANTL to enhance its deposit onboarding processes. This collaboration aims to streamline account origination for consumer and commercial clients, driving efficiency and opening new revenue streams. MANTL's technology will replace existing systems, providing a modern digital platform that improves user experience and operational efficiency. With nearly $9 billion in assets, ConnectOne aims to leverage this partnership for geographic expansion and improved banking services.

ConnectOne Bancorp (CNOB) reported net income of $30.8 million for Q2 2022, reflecting an increase from $29.9 million in Q1 2022. Diluted EPS rose to $0.78, up from $0.75 in Q1 2022. Net interest income increased by $5.2 million compared to Q1 2022, offset by higher expenses and credit loss provisions. The company declared a cash dividend of $0.155 per share, payable on September 1, 2022. Total assets reached $8.8 billion, and the tangible book value per share rose to $20.79.

ConnectOne Bancorp (Nasdaq: CNOB) announced the release of its Q2 2022 financial results on July 28, 2022, before market opens. The company will host a conference call at 10:00 a.m. ET on the same day to discuss financial performance. Those interested can access the call via a dial-in number or an online audio webcast, which will also be archived for later access. ConnectOne Bancorp operates through its subsidiary, ConnectOne Bank, and offers a range of banking and lending products.

ConnectOne Bank has partnered with Nymbus to enhance its digital business banking solutions. This collaboration aims to diversify ConnectOne's client list and build niche banking services powered by technology. CEO Frank Sorrentino III emphasized the importance of a client-centric approach, stating that the partnership will facilitate tailored offerings. With total assets exceeding $8 billion, ConnectOne plans to launch this new vertical by the end of 2022, leveraging Nymbus’s robust suite of banking technology to drive meaningful growth.

ConnectOne Bancorp reported a net income of $29.9 million for Q1 2022, down from $31.3 million in Q4 2021 and $33.0 million in Q1 2021. Diluted EPS fell to $0.75 from $0.79 and $0.82 in the prior quarters. The decline was attributed to increased noninterest expenses and a rise in provision for credit losses. However, net interest income rose 15.0% year-over-year to $70.8 million. The company announced a dividend increase to $0.155 per share for June 1, 2022, a 19.2% increase quarter-over-quarter and 40.9% year-over-year.

ConnectOne Bancorp, trading under the symbol CNOB, will release its first quarter results for 2022 before the market opens on April 28, 2022. A conference call will follow at 10:00 a.m. ET the same day, hosted by Chairman Frank Sorrentino III and CFO William S. Burns. Interested parties can join via dial-in at 1-201-689-8471 or access the audio webcast through the Company's website. A replay will be available shortly after the call and remain accessible until May 5, 2022.

ConnectOne Bank has joined the USDF Consortium, a group of FDIC-insured banks aiming to promote USDF, a tokenized deposit system. This membership aligns with ConnectOne's strategy to enhance commercial banking through innovative technology, enabling compliant blockchain transactions. Chairman & CEO, Frank Sorrentino III, emphasized the potential of blockchain in providing secure banking solutions. The Consortium aims to unlock blockchain's advantages, including faster and cost-effective digital transactions. ConnectOne is one of several banks collaborating to broaden the adoption of USDF for improved financial interactions.

ConnectOne Bancorp (Nasdaq: CNOB) reported a net income of $31.3 million for Q4 2021, slightly down from $32.1 million in Q3 2021 but up from $25.6 million in Q4 2020. Diluted EPS was $0.79, a decrease from $0.80 in Q3 2021 but an increase from $0.64 in Q4 2020. The company noted a significant net interest income increase of $9.1 million year-over-year, totaling $70.9 million. Asset quality improved, with nonperforming assets at 0.76% of total assets. Full-year net income reached $128.6 million, significantly higher than 2020. A cash dividend of $0.13 per share is set for March 1, 2022, enhancing shareholder returns.

ConnectOne Bancorp, Inc. (Nasdaq: CNOB) announced it will report its fourth-quarter financial results for 2021 on January 27, 2022, before market opening. A conference call with CEO Frank Sorrentino III and CFO William S. Burns will take place at 10:00 a.m. ET on the same day. Investors can join via dial-in or listen to an audio webcast on the company's website. A replay will be available after the call until February 3, 2022. ConnectOne Bancorp offers comprehensive banking services through ConnectOne Bank in New York and New Jersey.