ConnectOne Bancorp Inc

For the period ended Dec 31, 2024. Filed Feb 21, 2025.

About this filing

A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.

FY2024 · Filed Feb 21, 2025

CNOB$32.82-0.6%Stored close · as of Nov 10, 2026

Extracted filing text, with the paragraph anchors used by the comparison.

See the whole filing, with its images and exhibits

Contents

Consolidated Statements of Income

	Years Ended December 31,
	2024	2023	2022
(dollars in thousands, except for per share data)
Interest income:
Interest and fees on loans	$477,859	$453,992	$352,993
Interest and dividends on investment securities:
Taxable	18,561	16,666	12,712
Tax-exempt	4,503	4,641	3,893
Dividends	4,349	3,662	1,655
Interest on federal funds sold and other short-term investments	12,617	11,104	2,493
Total interest income	517,889	490,065	373,746
Interest expense:
Deposits	244,846	206,176	50,561
Borrowings	25,706	28,783	21,066
Total interest expense	270,552	234,959	71,627
Net interest income	247,337	255,106	302,119
Provision for credit losses	13,800	8,200	17,750
Net interest income after provision for credit losses	233,537	246,906	284,369
Noninterest income:
Deposit, loan and other income	6,861	6,098	7,472
Income on bank owned life insurance	7,142	6,316	5,597
Net gains on sale of loans held-for-sale	2,723	1,704	1,695
Net gains (losses) on equity securities	2	(117)	(1,521)
Total noninterest income	16,728	14,001	13,243
Noninterest expense:
Salaries and employee benefits	90,053	88,223	80,717
Occupancy and equipment	11,615	10,884	9,865
FDIC insurance	7,200	8,365	2,881
Professional and consulting	8,447	7,547	8,053
Marketing and advertising	2,420	1,965	1,692
Information technology and communications	17,574	14,340	11,108
Merger expenses	1,605	-	-
Branch closing expenses	477	-	-
Amortization of core deposit intangible	1,235	1,438	1,685
Increase in value of acquisition price	-	-	1,516
Other expenses	11,172	11,187	8,871
Total noninterest expenses	151,798	143,949	126,388
Income before income tax expense	98,467	116,958	171,224
Income tax expense	24,674	29,955	46,013
Net income	73,793	87,003	125,211
Preferred dividends	6,036	6,036	6,037
Net income available to common stockholders	$67,757	$80,967	$119,174
Earnings per common share:
Basic	$1.77	$2.08	$3.03
Diluted	1.76	2.07	3.01

-77-

ContentsView on SEC.gov

The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.