ConnectOne Bancorp, Inc. (CNOB) Form 8-K — Oct 22, 2026
ConnectOne Bancorp reported Q3 2026 net income available to common stockholders of $29.9 million, or $0.59 diluted EPS, down from $40.2 million and $0.80 in Q2 due to a $23.0 million pretax charge tied to a balance sheet restructuring. Excluding the charge, operating EPS was $0.95 with operating ROTCE of 15.2% and PPNR above 2% of average assets. The company agreed to sell a pool of up to approximately $750 million in non-relationship multifamily loans — about 61% secured by NYC rent-stabilized properties and 70% originated by FLIC — expected to close in late October 2026 with $7-8 million in additional costs.
Key figures
- Eps
- 0.59
- Revenue
- FTE net interest income $118.5 million (Q3 2026)
- Net Income
- 29890000
- Total Debt
- borrowings $1.072 billion plus subordinated debentures $202.4 million
- Total Assets
- 14778705000
- Cash Position
- 313348000
- Deal Value Usd
- up to ~$750 million unpaid principal balance of multifamily loans
- Shares Outstanding
- 50268879
- Acl ratio
- 1.06% of loans receivable
- Q3 buybacks
- 50,000 shares at average $32.37
- Operating eps
- $0.95
- Total deposits
- $11.8 billion
- Common dividend
- $0.195 per share payable December 1, 2026
- Operating rotce
- 15.2%
- Loans receivable
- $11.4 billion
- Net interest margin
- 3.44%
- Nonperforming assets
- $64.3 million (0.44% of total assets)
- Operating ppnr ratio
- 2.01% of average assets
- Loan to deposit ratio
- 97.1%
- Provision for credit losses
- $5.0 million
- Restructuring charge pretax
- $23.0 million
- Q4 transaction costs guidance
- $7 to $8 million
- Tangible book value per share
- $24.19
- Operating net income to common
- $47.9 million
- Remaining buyback authorization
- 501,118 shares
- Cre concentration ratio proforma
- 397%
- Nyc rent stabilized exposure proforma
- ~2% of total loans (from 6%)
AI analysis
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