Connectone Bancorp Inc Stock Price, News & Analysis

ConnectOne Bancorp (NASDAQ:CNOB) has appointed Robert A. Schwartz as General Counsel, effective June 1, 2025. Schwartz, who has been a trusted legal advisor to ConnectOne since its inception, joins the company following its successful merger with First of Long Island Corporation, which helped the bank reach nearly $14 billion in assets.

With decades of experience in mergers and acquisitions, securities law, and bank regulatory frameworks, Schwartz transitions from his role as Partner at Windels Marx to lead ConnectOne's legal strategy internally. His appointment comes at a strategic time as the company prepares for its next growth phase.

ConnectOne Bancorp (CNOB) has completed its merger with The First of Long Island Corporation (FLIC), creating a combined entity with $14 billion in total assets, $11 billion in deposits, and $11 billion in loans. The merged company operates under the ConnectOne brand, offering an expanded network of 60+ branches across New York, New Jersey, and Southeast Florida. FLIC shareholders received 0.5175 shares of ConnectOne common stock for each FLIC share. Post-merger, ConnectOne's Board expanded to 15 members, with former FLIC CEO Christopher Becker appointed as Vice Chairman, alongside Peter Quick and Ed Haye joining as board members. The merger aims to enhance scale, capabilities, and franchise value while maintaining a client-first culture.

ConnectOne Bancorp (CNOB) and The First of Long Island Corporation have received FDIC approval for their previously announced merger, expected to close around June 1, 2025. The merger still requires approvals from the New Jersey Department of Banking and Insurance and the Federal Reserve Bank of New York. The combined entity will operate under the ConnectOne brand and will become one of the top 5 community banks on Long Island with approximately $14 billion in total assets, $11 billion in total deposits, and $11 billion in total loans. The merger aims to leverage ConnectOne's commercial expertise and modern infrastructure to serve First of Long Island's client base, with both companies emphasizing their commitment to client service and seamless integration.

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 (Nasdaq: CNOB) has scheduled its first quarter 2025 earnings release and conference call. The company will announce its financial results for the quarter ending March 31, 2025, before market opening on Thursday, April 24, 2025.

The earnings conference call and audio webcast will be held at 10:00 a.m. ET on the same day, hosted by Chairman and CEO Frank Sorrentino III and Senior EVP/CFO William S. Burns. Investors can join via phone at 1 (646) 307-1963 using access code 5043609, or listen to the webcast through the company's Investor Relations website.

A replay will be available from 1:00 p.m. ET on April 24 until May 1, 2025, by calling 1 (609) 800-9909 with the same access code.

ConnectOne Bancorp (CNOB) and The First of Long Island (FLIC) shareholders have approved their proposed merger at separate special meetings. The transaction is expected to close in Q2 2025, pending regulatory approval. The combined entity will operate under the ConnectOne brand, creating a premier New York-metro community bank with approximately $14 billion in total assets, $11 billion in total deposits, and $11 billion in total loans.

The merger will position ConnectOne among the top 5 banks on Long Island by deposit market share. Chris Becker, current CEO of First of Long Island, will become Vice Chairman of ConnectOne following the transaction's completion.

ConnectOne Bancorp (CNOB) reported Q4 2024 net income of $18.9 million, up from $15.7 million in Q3 2024 and $17.8 million in Q4 2023. Diluted EPS reached $0.49, compared to $0.41 in Q3 2024 and $0.46 in Q4 2023.

The bank showed strong performance with a 2.0% quarterly loan portfolio growth and 3.2% core deposits growth. The net interest margin improved by nearly 20 basis points, benefiting from reduced deposit costs. The company maintained stable credit quality and increased tangible book value.

Full-year 2024 net income was $67.8 million ($1.76 per share), down from $81.0 million ($2.07 per share) in 2023. The Board declared a quarterly cash dividend of $0.18 per common share and $0.328125 per preferred share depositary share.

The company's planned merger with The First of Long Island is progressing as expected, with closing anticipated in Q2 2025.

ConnectOne Bancorp (Nasdaq: CNOB) has announced it will release its fourth quarter 2024 financial results before market opening on Thursday, January 30, 2025. The company will host a conference call and audio webcast at 10:00 a.m. ET on the same day to discuss the results.

The earnings call will be led by Chairman and CEO Frank Sorrentino III and CFO William S. Burns. Investors can join via phone at 1 (646) 307-1963 using access code 1691400. An audio webcast will be available through the company's website. A replay of the call will be accessible from 1:00 p.m. ET on January 30 until February 6, 2025.

ConnectOne Bancorp reported net income of $15.7 million for Q3 2024, down from $17.5 million in Q2 2024 and $19.9 million in Q3 2023. Diluted EPS was $0.41, compared to $0.46 in Q2 and $0.51 in Q3 2023. The decrease was primarily due to increased provision for credit losses, higher noninterest expenses, and decreased net interest income. The company announced a planned merger with The First of Long Island and declared a cash dividend of $0.18 per common share. The net interest margin was 2.67%, with expectations of a 10 basis point increase in Q4 2024.