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ConnectOne Bancorp, Inc. reports commercial banking results and corporate updates as the parent company of ConnectOne Bank and the bank’s fintech subsidiary, BoeFly, Inc. ConnectOne Bank offers banking and lending products focused on small to middle-market businesses, while BoeFly connects franchise borrowers with funding solutions through a network of partner banks.
Recurring developments include net interest margin trends, loan growth, credit performance, operating expenses, tangible book value, common and preferred dividends, share repurchases, branch network actions and integration following the completed merger with The First of Long Island Corporation.
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.
ConnectOne Bancorp reported a net income of $32.2 million for Q2 2021, slightly down from $33.0 million in Q1 2021 but a significant increase from $14.8 million in Q2 2020. Diluted earnings per share were $0.81. The decline in net income was attributed to a $4.1 million decrease in the provision for credit losses, even as net interest income rose by $1.9 million. Additionally, the company declared a dividend of $0.11 per share, payable September 1, 2021.
ConnectOne Bancorp, parent company of ConnectOne Bank, will announce its second-quarter financial results for 2021 on July 29, 2021, prior to market opening. The announcement will be followed by a conference call at 10:00 a.m. ET, hosted by CEO Frank Sorrentino III and CFO William S. Burns. Interested parties can join the call via dial-in or listen to the audio webcast on the company's website. A replay will be available until August 5, 2021. ConnectOne Bancorp is traded on Nasdaq under the ticker CNOB.
ConnectOne Bancorp reported a net income of $33.0 million for Q1 2021, a significant rise from $6.0 million in Q1 2020. Diluted earnings per share increased to $0.82 from $0.15 year-over-year, primarily due to a $5.8 million recapture of credit loss reserves. The Bank also announced a 22.2% increase in its common stock dividend to $0.11 per share, payable June 1, 2021. The total assets of ConnectOne stood at $7.4 billion as of March 31, 2021, with a tangible common equity ratio of 9.91%.
ConnectOne Bancorp, parent company of ConnectOne Bank, will release its first-quarter financial results for the period ending March 31, 2021, on April 29, 2021, before market opening. A conference call will follow at 10:00 a.m. ET, hosted by CEO Frank Sorrentino III and CFO William S. Burns. Investors can join the call by dialing 201-689-8471 (access code 13718388) or listen via the company's website. A replay will be available after the call until May 6, 2021. ConnectOne Bancorp trades on Nasdaq under the symbol CNOB.
ConnectOne Bancorp reported a net income of $25.6 million for Q4 2020, up from $24.8 million in Q3 2020 and $20.8 million in Q4 2019. Diluted earnings per share were $0.64 in Q4 2020. Full-year net income was $71.3 million, down from $73.4 million in 2019. The net interest margin increased to 3.50%, with total assets rising to $7.6 billion. The Board reinstated a share repurchase program and declared a $0.09 dividend per share. The loan loss provision for Q4 stood at $5.0 million, consistent with previous quarters.
ConnectOne Bancorp (Nasdaq: CNOB) plans to announce its fourth quarter results for the period ending December 31, 2020, on January 28, 2021, before market opening. A conference call hosted by CEO Frank Sorrentino III and CFO William S. Burns will take place at 10:00 a.m. ET on the same day to discuss financial performance and operating results. The public can access the audio webcast via their website. A replay will be available after the call until February 4, 2021.
ConnectOne Bancorp (Nasdaq: CNOB) announced key appointments at ConnectOne Bank, elevating Elizabeth Magennis to President and hiring Michael O’Malley as Executive Vice President and Chief Risk Officer, along with Siya Vansia as Senior Vice President and Chief Brand and Innovation Officer. CEO Frank Sorrentino praised the leadership team, emphasizing its role in supporting future growth through technology and fintech partnerships. The Bank also promoted nine employees to Senior Vice President, further reinforcing its commitment to a people-first culture aimed at enhancing market competitiveness.