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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 | 5.5% | 43.2% | 9.0% |
| 2024 | $264M | - | $74M | $57M | 6.5% | -1.9% | -15.2% |
| 2023 | $269M | - | $87M | $85M | 7.9% | -14.7% | -30.5% |
| 2022 | $315M | - | $125M | $173M | 11.7% | - | - |
| 2021 | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Total Revenue | - | 315.36 | 269.11 | 264.06 | 378.21 |
| Operating Revenue | - | 315.36 | 269.11 | 264.06 | 378.21 |
| Selling General And Administration | - | 85.29 | 98.55 | 99.67 | 123.53 |
| Interest Income | - | 373.75 | 490.06 | 517.89 | 644.87 |
| Interest Expense | - | 71.63 | 234.96 | 270.55 | 291.62 |
| Net Interest Income | - | 302.12 | 255.11 | 247.34 | 353.25 |
| Pretax Income | - | 171.22 | 116.96 | 98.47 | 112.74 |
| Tax Provision | - | 46.01 | 29.96 | 24.67 | 32.30 |
| Tax Rate For Calcs | - | 0 | 0 | 0 | 0 |
| Tax Effect Of Unusual Items | - | -0.41 | 0 | -0.52 | -7.61 |
| Net Income Continuous Operations | - | 125.21 | 87 | 73.79 | 80.44 |
| Net Income From Continuing And Discontinued Operation | - | 125.21 | 87 | 73.79 | 80.44 |
| Net Income From Continuing Operation Net Minority Interest | - | 125.21 | 87 | 73.79 | 80.44 |
| Net Income | - | 125.21 | 87 | 73.79 | 80.44 |
| Net Income Common Stockholders | - | 118.89 | 80.75 | 67.57 | 74.23 |
| Net Income Including Noncontrolling Interests | - | 125.21 | 87 | 73.79 | 80.44 |
| Normalized Income | - | 126.32 | 87 | 75.35 | 99.45 |
| Diluted NI Availto Com Stockholders | - | 118.89 | 80.75 | 67.57 | 74.23 |
| Basic Average Shares | - | 39.33 | 38.93 | 38.28 | 45.37 |
| Diluted Average Shares | - | 39.59 | 39.11 | 38.50 | 45.65 |
| Reconciled Depreciation | - | 5.55 | 5.94 | 5.66 | 14.01 |
| Total Unusual Items | - | -1.52 | 0 | -2.08 | -26.62 |
| Total Unusual Items Excluding Goodwill | - | -1.52 | 0 | -2.08 | -26.62 |
| Preferred Stock Dividends | - | 6.04 | 6.04 | 6.04 | 6.04 |
| Special Income Charges | - | -1.52 | 0 | -2.08 | -26.62 |
| Gain On Sale Of Business | 0.67 | 0 | 0 | - | - |
| Other Special Charges | - | - | 2.10 | 0.48 | -8.83 |
| Restructuring And Mergern Acquisition | - | 1.52 | 0 | 1.60 | 35.46 |
| Gain On Sale Of Security | - | -1.52 | -0.12 | 0 | 1.70 |
| Depreciation Amortization Depletion Income Statement | - | 1.68 | 1.44 | 1.24 | 7.92 |
| Depreciation And Amortization In Income Statement | - | 1.68 | 1.44 | 1.24 | 7.92 |
| General And Administrative Expense | - | 83.60 | 96.59 | 97.25 | 120.35 |
| Other Gand A | 6.26 | - | - | - | - |
| Salaries And Wages | - | 80.72 | 88.22 | 90.05 | 111.42 |
| Insurance And Claims | - | 2.88 | 8.36 | 7.20 | 8.93 |
| Selling And Marketing Expense | - | 1.69 | 1.96 | 2.42 | 3.18 |
| Otherunder Preferred Stock Dividend | - | 0.29 | 0.22 | 0.19 | 0.18 |
| Amortization | - | 1.68 | 1.44 | 1.24 | 7.92 |
| Amortization Of Intangibles Income Statement | - | 1.68 | 1.44 | 1.24 | 7.92 |
| Occupancy And Equipment | - | 9.86 | 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 | 33.04 |
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 | 19.13↑ premium | 1.05 | 5.5% | - |
| TriCo Bancshares | TCBK | $1.6B | 13.41 | 1.23 | 9.2% | - |
| Hope Bancorp, Inc. | HOPE | $1.6B | 26.13 | 0.70 | 2.7% | - |
| Bank First Corporation | BFC | $1.6B | 21.96 | 2.44 | 11.1% | - |
| QCR Holdings, Inc. | QCRH | $1.5B |
| - |
| - |
| - |
| - |
| - |
| 12.07 |
| 1.38 |
| 11.4% |
| - |
| Byline Bancorp, Inc. | BY | $1.5B | 11.70 | 1.20 | 10.3% | - |
| Origin Bancorp, Inc. | OBK | $1.5B | 19.77 | 1.19 | 6.0% | - |
| Lakeland Financial Corporation | LKFN | $1.5B | 14.29 | 1.94 | 13.6% | - |
| Perella Weinberg Partners | PWP | $1.5B | 41.59 | -11.59 | -27.9% | 20.42 |
| Peer Median | - | 17.03 | 1.21 | 9.7% | 20.42 | |