[8-K] Center Bancorp Inc Reports Material Event

Rhea-AI Filing Summary

ConnectOne Bancorp announced it will redeem all $75 million of its outstanding subordinated debentures that mature on June 15, 2030. The redemption is stated to be executed "in accordance with the terms of the subordinated debentures" and will be effective on September 15, 2025. The filing is a brief disclosure of this material financing event and confirms the company will retire the specified instrument on the stated effective date.

Positive

• $75 million of subordinated debentures will be redeemed, eliminating the outstanding instrument effective September 15, 2025
• Redemption will be executed in accordance with the terms of the subordinated debentures, indicating contractual compliance

Negative

• None.

Insights

Financial Analyst

TL;DR: Company will retire $75M of subordinated debt effective Sept 15, 2025; immediate cash/funding implications are not disclosed.

The registrant disclosed a contractual redemption of all outstanding subordinated debentures totaling $75 million that mature on June 15, 2030, with the redemption effective September 15, 2025. From a credit and capital-structure perspective, retiring subordinated debt removes that specific liability and associated contractual payments, but the filing does not state how the redemption will be funded or whether replacement capital was issued. Without details on funding sources, interest cost, or balance-sheet treatment, the net financial impact cannot be fully assessed from this filing alone.

Risk/Capital Markets Analyst

TL;DR: Redemption follows debenture terms; material size is disclosed but operational and liquidity effects are unspecified.

The company confirms redemption "in accordance with the terms" for the full outstanding principal of $75 million, effective September 15, 2025. This is a clear, contract-driven capital event. The filing provides no information on cash sources, covenant effects, or any replacement financing, limiting assessment of liquidity or regulatory capital impact. Additional disclosures would be needed to evaluate credit metrics or capital ratios.

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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C.  20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of

the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported):   August 12,2025

CONNECTONE BANCORP, INC.

(Exact name of Company as specified in its charter)

New Jersey	001-40751	52-1273725
(State or other jurisdiction	(Commission	(IRS Employer
of incorporation)	File Number)	Identification No
301 Sylvan Avenue
Englewood Cliffs, New Jersey		07632
(Address of principal executive offices)		(Zip Code)

Company's telephone number, including area code  (844) 266-2548

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter). Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Securities registered pursuant to Section 12(b) of the Act:

Title of each class	Trading Symbol(s)	Name of each exchange on which registered
Common Stock	CNOB	NASDAQ
Depositary Shares (each representing a 1/40th interest in a share of 5.25% Series A Non-Cumulative, perpetual preferred stock)	CNOBP	NASDAQ

Item 8.01. Other Events.

The Company announced that it was redeeming all $75 million in its outstanding subordinated debentures maturing June 15, 2030, in accordance with the terms of the subordinated debentures. The redemption will be effective September 15, 2025.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

	CONNECTONE BANCORP, INC. Registrant
Dated: August 12, 2025
	By:	/s/ William S. Burns
		William S. Burns
		Senior Executive Vice President/
		Chief Financial Officer

FAQ

What action did ConnectOne Bancorp (CNOB) announce in this 8-K?

The company announced it will redeem all outstanding subordinated debentures totaling $75 million.

When is the redemption of CNOB's subordinated debentures effective?

The redemption is effective on September 15, 2025.

Which subordinated debentures are being redeemed by CNOB?

All outstanding subordinated debentures that mature on June 15, 2030 are being redeemed.

How much principal is being redeemed by ConnectOne (CNOB)?

The filing states the redemption amount as $75 million in outstanding subordinated debentures.

Does the filing state how the redemption will be funded?

No. The filing states the redemption will occur "in accordance with the terms" but does not disclose funding sources.

Who signed the 8-K reporting this redemption for ConnectOne Bancorp?

The report was signed by William S. Burns, Senior Executive Vice President and Chief Financial Officer.