ConnectOne Bancorp Inc. ( (CNOB) ) has released its Q3 earnings. Here is a breakdown of the information ConnectOne Bancorp Inc. presented to its investors.
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ConnectOne Bancorp, Inc., a commercial bank with a focus on small to middle-market businesses, has reported its financial results for the third quarter of 2025, showcasing a significant turnaround in profitability and strategic growth following its merger with The First of Long Island Corporation (FLIC). The bank operates through its subsidiary ConnectOne Bank and fintech subsidiary BoeFly, Inc., providing a comprehensive suite of banking and lending products.
For the third quarter of 2025, ConnectOne Bancorp reported a net income of $39.5 million, a substantial improvement from a loss of $21.8 million in the previous quarter and up from $15.7 million in the same period last year. The increase in profitability was driven by a $30.2 million reduction in the provision for credit losses and a $23.1 million increase in net interest income. The merger with FLIC played a pivotal role in these results, contributing to a 44 basis-point widening of the net interest margin and a 43.1% increase in average interest-earning assets.
The company’s strategic initiatives have resulted in a healthy loan and deposit pipeline, with client deposits increasing at an annualized rate of 4.0% and loans growing over 5.0% since the end of June 2025. Additionally, ConnectOne’s credit quality remains robust, with nonperforming assets at just 0.28% of total assets and annualized net charge-offs below 0.20%. The bank’s capital ratios are strong, with a total risk-based capital ratio of 13.88% and a tangible common equity ratio of 8.36%.
Looking ahead, ConnectOne Bancorp is focused on maintaining its strategic priorities, driving profitable growth, and creating sustainable long-term value for shareholders. The company has declared cash dividends on both its common and preferred stock, reflecting its commitment to returning value to shareholders.