Welcome to our dedicated page for Connectone Bancorp news (Ticker: CNOB), a resource for investors and traders seeking the latest updates and insights on Connectone Bancorp stock.
ConnectOne Bancorp, Inc. (NASDAQ: CNOB) is a financial services company that operates through ConnectOne Bank and its fintech subsidiary, BoeFly, Inc. Company news releases describe ConnectOne Bank as a commercial bank offering a full suite of banking and lending products and services focused on small to middle-market businesses, and BoeFly as a fintech marketplace that connects franchise borrowers with funding solutions through a network of partner banks.
This news page aggregates coverage of ConnectOne’s public announcements, including quarterly and annual financial results, dividend declarations on common and preferred stock, and details of its merger with The First of Long Island Corporation. Earnings releases discuss net income or loss available to common stockholders, net interest income, noninterest income, provision for credit losses, asset quality metrics, and capital ratios, providing insight into the company’s performance and risk profile.
Investors and observers can also follow news about corporate actions and governance, such as the completion of the merger with The First of Long Island Corporation, regulatory approvals for that merger, and leadership changes like the appointment of a General Counsel and changes in the Chief Risk Officer role. Additional news items include announcements of conference calls and audio webcasts where management reviews financial performance and operating results.
By reviewing ConnectOne Bancorp’s news flow, readers can track developments in its commercial banking operations, its integration of acquired institutions, its franchise finance activities through BoeFly, and its communication with shareholders through investor presentations and earnings calls. This page can be revisited to see new press releases and updates as they are issued.
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.
ConnectOne Bancorp reported a net income of $32.1 million for Q3 2021, slightly down from $32.2 million in Q2 2021, but up from $24.8 million year-over-year. Diluted earnings per share were $0.80, a decrease of $0.01 from the previous quarter but an increase of $0.18 from the same quarter last year. The company also declared an 18% increase in cash dividends to $0.13 per share. Key metrics included a return on assets of 1.62% and a tangible book value per share increase of 4%.
ConnectOne Bancorp, trading under the symbol CNOB, is set to release its third-quarter financial results for the period ending September 30, 2021, on October 28, 2021, before market opening. The management, including Chairman Frank Sorrentino III and CFO William S. Burns, will hold a conference call at 10:00 a.m. ET on the same day to discuss the results. Investors can join the call using the dial-in number 201-689-8471 with access code 13723610, and an audio webcast will also be available on their website. A replay will be accessible after the call until November 4, 2021.
ConnectOne Bancorp, Inc. (NASDAQ: CNOB) has announced a public offering of 4 million depositary shares priced at $25 each, totaling gross proceeds of $100 million. Each share represents a 1/40th interest in its 5.25% Fixed-Rate Reset Non-Cumulative Perpetual Preferred Stock, Series A. An additional 600,000 shares may be purchased by underwriters. The proceeds will support general corporate purposes, including growth initiatives and regulatory capital for its Bank. The offering is expected to close on or about August 19, 2021.
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