Connectone Bancorp Stock Price, News & Analysis

ConnectOne Bancorp, Inc. (NASDAQ: CNOB) is a financial services company in the commercial banking industry. According to company disclosures, it operates through its subsidiary ConnectOne Bank and the Bank’s fintech subsidiary, BoeFly, Inc. ConnectOne Bancorp is identified in SEC filings as a New Jersey corporation, and its common stock trades on the Nasdaq Global Market under the symbol CNOB.

ConnectOne Bank is described in company news releases as a high-performing commercial bank that offers a full suite of banking and lending products and services focused on small to middle-market businesses. The bank’s lending activities, as described in regulatory and investor materials, include loans that are substantially secured with various types of collateral, including business assets, consumer assets, and commercial or residential real estate. Borrowers’ ability to repay these loans is described as depending on the conversion of assets, cash flows generated from their businesses, real estate rental income, and consumer wages.

The company also highlights its fintech subsidiary, BoeFly, Inc., which is described as a fintech marketplace that connects borrowers in the franchise space with funding solutions through a network of partner banks. This positions BoeFly as a technology-enabled platform within the broader ConnectOne organization, focused on matching franchise borrowers with bank funding options.

In multiple news releases, ConnectOne describes itself as a modern financial services company and a commercial bank that focuses on relationship-based banking for small and middle-market businesses. The company reports that it has expanded its footprint through a merger with The First of Long Island Corporation, which resulted in a combined institution with approximately $14 billion in total assets, $11 billion in total deposits, and $11 billion in total loans at the time of completion. Following this merger, the combined company operates under the ConnectOne brand.

ConnectOne has stated that it maintains a retail branch network spanning New York, New Jersey, and Southeast Florida, with more than 60 branches following the merger with The First of Long Island Corporation. Company communications describe this network as providing personalized service, expanded expertise, and customizable product offerings to clients across these markets.

Public filings and earnings releases emphasize several aspects of ConnectOne’s operating profile: net interest income generated from its loan and deposit activities, noninterest income from sources such as deposit, loan and other income, net gains on equity securities, bank-owned life insurance (BOLI) income, and gains on the sale of loans held-for-sale, including Small Business Administration (SBA) loans. The company also reports on asset quality metrics, including nonperforming assets, provision for credit losses, allowance for credit losses, criticized and classified loans, and loan delinquencies.

ConnectOne’s management commentary in earnings releases emphasizes strategic priorities such as disciplined execution, integration of acquired institutions, and the importance of loan and deposit mix, net interest margin, and profitability ratios. The company has also highlighted its focus on credit quality, noting metrics such as nonperforming assets as a percentage of total assets, ratios of nonaccrual loans to loans receivable, and net loan charge-off ratios.

Dividend declarations are a recurring feature of ConnectOne’s communications. The company has announced cash dividends on its common stock and on depositary shares representing interests in its 5.25% Fixed Rate Reset Non-Cumulative Perpetual Preferred Stock, Series A. These dividends are described in earnings releases alongside financial performance metrics.

ConnectOne’s SEC filings, including multiple Forms 8-K, show that the company regularly reports material events such as earnings releases, investor presentations, changes in executive roles, and capital actions. For example, the company filed an 8-K describing the redemption of subordinated debentures and another 8-K describing a separation and release agreement with its Chief Risk Officer and the appointment of a new Chief Risk Officer.

According to company disclosures, ConnectOne Bancorp’s business model centers on commercial banking for small and middle-market businesses, supported by a branch network in selected U.S. markets and by a fintech marketplace platform serving franchise borrowers. Its financial performance is driven by interest income on loans, costs of deposits and other funding, noninterest income sources, and disciplined management of credit risk and operating expenses.

Business Segments and Activities

Commercial banking through ConnectOne Bank focuses on providing banking and lending products and services to small and middle-market businesses. The bank’s loans are generally secured by collateral such as business and consumer assets and commercial or residential real estate, and repayment is tied to business cash flows, rental income, and wages.

Fintech marketplace through BoeFly, Inc. is described as a platform that connects borrowers in the franchise space with funding solutions through a network of partner banks. This activity extends ConnectOne’s reach into franchise finance via a technology-enabled channel.

Capital, Asset Quality, and Risk Management

ConnectOne’s earnings releases and SEC filings provide detail on asset quality and risk management. The company reports a provision for credit losses that reflects portfolio growth, individually evaluated loans, and changing macroeconomic conditions. It discloses nonperforming assets, nonaccrual loans, allowance for credit losses as a percentage of loans, and ratios of criticized and classified loans. These disclosures illustrate the company’s focus on monitoring credit quality across its loan portfolio.

Regulatory capital information appears in earnings materials, with references to total risk-based capital ratios, tangible common equity ratios, and tangible book value per share. The company has also reported on subordinated debt issuance and redemption, indicating active management of its capital structure.

Corporate Developments and Governance

ConnectOne uses Form 8-K filings to report corporate developments such as the completion of its merger with The First of Long Island Corporation, investor presentations, and executive leadership changes. One 8-K describes a separation and release agreement with the company’s Chief Risk Officer and the appointment of a successor Chief Risk Officer with extensive risk and audit experience. Other 8-K filings attach investor presentations that discuss net interest margin projections and other financial expectations.

Through these disclosures, ConnectOne provides investors with information on its strategic direction, integration of acquisitions, leadership team changes, and financial outlook as presented in investor materials.

Stock Information

ConnectOne Bancorp, Inc. states that its common stock is listed on the Nasdaq Global Market under the ticker symbol CNOB. The company identifies itself in SEC filings as a New Jersey corporation with a Commission File Number of 001-40751 or 000-11486, and with an Internal Revenue Service Employer Identification Number of 52-1273725.

FAQs

• What does ConnectOne Bancorp, Inc. do?
  ConnectOne Bancorp, Inc. is a financial services company that operates through ConnectOne Bank and its fintech subsidiary BoeFly, Inc. ConnectOne Bank is a commercial bank offering banking and lending products and services focused on small to middle-market businesses, while BoeFly operates a fintech marketplace connecting franchise borrowers with funding solutions through partner banks.
• What industry is ConnectOne Bancorp, Inc. in?
  ConnectOne Bancorp, Inc. is in the commercial banking industry within the broader finance and insurance sector, as indicated by its description as a community-based, full-service New Jersey-chartered commercial bank and as a modern financial services company.
• How does ConnectOne generate revenue?
  Company earnings releases indicate that ConnectOne generates revenue primarily through net interest income on interest-earning assets such as loans, offset by the cost of deposits and other funding. It also reports noninterest income from deposit, loan and other income, gains on equity securities, bank-owned life insurance income, and gains on the sale of loans held-for-sale, including SBA loans.
• What is BoeFly, Inc. and how is it related to ConnectOne?
  BoeFly, Inc. is described by the company as a fintech marketplace that connects borrowers in the franchise space with funding solutions through a network of partner banks. It is a subsidiary of ConnectOne Bank, and therefore part of ConnectOne Bancorp, Inc.’s consolidated operations.
• On which exchange does CNOB trade?
  ConnectOne Bancorp, Inc. states that its common stock is traded on the Nasdaq Global Market under the ticker symbol CNOB.
• What geographic markets does ConnectOne serve?
  In connection with the completion of its merger with The First of Long Island Corporation, ConnectOne reported that it operates a retail network of more than 60 branches spanning New York, New Jersey, and Southeast Florida.
• What was the impact of the merger with The First of Long Island Corporation?
  Upon completion of the merger, ConnectOne reported that the combined company had approximately $14 billion in total assets, $11 billion in total deposits, and $11 billion in total loans, and that the combined institution operates under the ConnectOne brand with a branch network across New York, New Jersey, and Southeast Florida.
• How does ConnectOne describe its client focus?
  Company communications describe ConnectOne Bank as focusing on small to middle-market businesses and emphasize relationship-based banking, a client-first culture, and personalized service delivered through its branch network and commercial banking activities.
• What types of collateral secure ConnectOne’s loans?
  According to the company’s description, substantially all loans are secured with various types of collateral, including business assets, consumer assets, and commercial or residential real estate. Repayment depends on asset conversion, business cash flows, real estate rental income, and consumer wages.
• Does ConnectOne pay dividends?
  Yes. Earnings releases report that ConnectOne’s Board of Directors has declared cash dividends on its common stock and on depositary shares representing interests in its 5.25% Fixed Rate Reset Non-Cumulative Perpetual Preferred Stock, Series A.