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ConnectOne Bancorp, Inc. operates as the bank holding company for ConnectOne Bank that provides commercial banking products and services for small and mid-sized businesses, local professionals, and individuals in the United States. The company offers personal and business checking, money market, and time and savings accounts; credit cards, wire transfers, safe deposit boxes, automated teller services and telephone, and internet and mobile banking. It also provides retirement accounts, consumer and cash management services for business clients, including treasury direct, automated clearing house origination, remote deposit capture, and digital invoicing. In addition, the company offers consumer and commercial business loans, including lines of credit, commercial and residential mortgages, home equity and bridge loans, and other personal loans; commercial loans secured by collateral, such as business assets including accounts receivable, inventory and equipment, and mortgages filed on commercial and residential real estate, as well as cash balances and marketable securities. Further, the company provides real estate loans, which includes loans secured by first liens on completed commercial properties, including multifamily properties, to purchase or refinance properties; residential mortgages, such as loans secured by first liens on 1-4 family and condominiums; and cooperative residential real estate loans. The company was formerly known as Center Bancorp, Inc. and changed its name to ConnectOne Bancorp, Inc. in July 2014. ConnectOne Bancorp, Inc. was incorporated in 1982 and is headquartered in Englewood Cliffs, New Jersey.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $378M | - | $80M | $101M | 5.1% | 43.2% | 9.0% |
| 2024 | $264M | - | $74M | $57M | 5.9% | -1.9% | -15.2% |
| 2023 | $269M | - | $87M | $85M | 7.2% | -14.7% | -30.5% |
| 2022 | $315M | - | $125M | $173M | 10.6% | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Total Revenue | 315.36 | 269.11 | 264.06 | 378.21 |
| Pretax Income | 171.22 | 116.96 | 98.47 | 112.74 |
| Tax Provision | 46.01 | 29.95 | 24.67 | 32.30 |
| Net Income | 125.21 | 87 | 73.79 | 80.44 |
| Net Income Common Stockholders | 118.89 | 80.75 | 67.57 | 74.23 |
| Interest Expense | 71.63 | 234.96 | 270.55 | 291.62 |
| Interest Income | 373.75 | 490.06 | 517.89 | 644.87 |
| Selling General And Administration | 85.29 | 98.55 | 99.67 | 123.53 |
| Normalized Income | 126.32 | 87 | 75.35 | 99.45 |
| Basic EPS | 3.03 | 2.08 | 1.77 | 1.64 |
| Diluted EPS | 3.01 | 2.07 | 1.76 | 1.63 |
| Tax Effect Of Unusual Items | -0.41 | 0 | -0.52 | -7.61 |
| Tax Rate For Calcs | 0.27 | 0.26 | 0.25 | 0.29 |
| Total Unusual Items | -1.52 | 0 | -2.08 | -26.62 |
| Total Unusual Items Excluding Goodwill | -1.52 | 0 | -2.08 | -26.62 |
| Net Income From Continuing Operation Net Minority Interest | 125.21 | 87 | 73.79 | 80.44 |
| Reconciled Depreciation | 5.55 | 5.94 | 5.66 | 14.01 |
| Net Interest Income | 302.12 | 255.11 | 247.34 | 353.25 |
| Net Income From Continuing And Discontinued Operation | 125.21 | 87 | 73.79 | 80.44 |
| Diluted Average Shares | 39.59 | 39.11 | 38.50 | 45.65 |
| Basic Average Shares | 39.33 | 38.93 | 38.28 | 45.37 |
| Diluted NI Availto Com Stockholders | 118.89 | 80.75 | 67.57 | 74.23 |
| Otherunder Preferred Stock Dividend | 0.29 | 0.22 | 0.19 | 0.18 |
| Preferred Stock Dividends | 6.04 | 6.04 | 6.04 | 6.04 |
| Net Income Including Noncontrolling Interests | 125.21 | 87 | 73.79 | 80.44 |
| Net Income Continuous Operations | 125.21 | 87 | 73.79 | 80.44 |
| Special Income Charges | -1.52 | 0 | -2.08 | -26.62 |
| Gain On Sale Of Business | 0 | 0 | 0 | 0 |
| Other Special Charges | 0 | 2.10 | 0.48 | -8.83 |
| Restructuring And Mergern Acquisition | 1.52 | 0 | 1.60 | 35.45 |
| Gain On Sale Of Security | -1.52 | -0.12 | 0 | 1.70 |
| Depreciation Amortization Depletion Income Statement | 1.69 | 1.44 | 1.24 | 7.92 |
| Depreciation And Amortization In Income Statement | 1.69 | 1.44 | 1.24 | 7.92 |
| Amortization | 1.69 | 1.44 | 1.24 | 7.92 |
| Amortization Of Intangibles Income Statement | 1.69 | 1.44 | 1.24 | 7.92 |
| Selling And Marketing Expense | 1.69 | 1.97 | 2.42 | 3.18 |
| General And Administrative Expense | 83.60 | 96.59 | 97.25 | 120.35 |
| Other Gand A | 0 | 0 | 0 | 0 |
| Insurance And Claims | 2.88 | 8.37 | 7.20 | 8.93 |
| Salaries And Wages | 80.72 | 88.22 | 90.05 | 111.42 |
| Operating Revenue | 315.36 | 269.11 | 264.06 | 378.21 |
| Occupancy And Equipment | 9.87 | 10.88 | 11.62 | 16.55 |
| Professional Expense And Contract Services Expense | 8.05 | 7.55 | 8.45 | 10.80 |
| Other Non Interest Expense | 19.98 | 25.53 | 28.75 | 33.05 |
Financial Services sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| ConnectOne Bancorp, Inc.this co. | CNOB | $1.5B | 15.61↑ premium | 0.98 | 5.1% | - |
| FirstSun Capital Bancorp | FSUN | $1.6B | 10.44 | 0.86 | 8.5% | - |
| Lakeland Financial Corporation | LKFN | $1.5B | 15.05 | 2.04 | 13.6% | - |
| QCR Holdings, Inc. | QCRH | $1.5B | 11.36 | 1.36 | 11.4% | - |
| Exzeo Group, Inc. | XZO | $1.5B |
| 16.44 |
| 5.82 |
| 32.6% |
| 10.44 |
| Byline Bancorp, Inc. | BY | $1.5B | 10.52 | 1.15 | 10.3% | - |
| Republic Bancorp, Inc. | RBCAA | $1.5B | 11.57 | 1.33 | 11.9% | - |
| Origin Bancorp, Inc. | OBK | $1.4B | 18.18 | 1.15 | 6.0% | - |
| Westamerica Bancorporation | WABC | $1.4B | 11.19 | 1.39 | 12.4% | - |
| Peer Median | - | 11.47 | 1.34 | 11.7% | 10.44 | |