ConnectOne Bancorp, Inc. Depositary Shares, each representing a 1/40th interest in a share of 5.25% Fixed-Rate Reset Non-Cumulative Perpetual Preferred Stock, Series ACNOB

RecordedJuly 23, 2026 at 10:00 AM

ConnectOne Bancorp, Inc. Depositary Shares, each representing a 1/40th interest in a share of 5.25% Fixed-Rate Reset Non-Cumulative Perpetual Preferred Stock, Series A 2026 Q2 Earnings Call

Review the key takeaways and the transcript of this earnings call.

PeriodQ2 2026Duration31 minParticipants9

Key takeaways

ConnectOne Bancorp reported second quarter 2026 net income available to common of $40.2 million or $0.80 per share, up more than 10% sequentially from $36.3 million or $0.72 per share in the first quarter.
Operating PPPNR improved to 1.94%, up from 1.81% a quarter ago and 1.52% a year ago.
Net interest margin widened for the seventh consecutive quarter to 2.45%, a three basis points sequential increase.
Year to date 2026, approximately $700 million of loan balance repriced at a weighted average rate increase of 255 basis points, with about 20% payoffs and 80% retained.
Loans grew at an annualized rate of approximately 5% sequentially, with average loan balances up 10% annualized.
Client deposits grew 8% annualized, driven by 20% annualized growth in non-interest bearing demand deposits.
Non-interest income increased by $7.9 million for the quarter, driven by higher SBA loan sale gains.
Operating expenses decreased slightly to $55.3 million, improving the efficiency ratio to 42.7% from 45.4% last quarter and 49.2% a year ago.
Credit quality included a $13.8 million charge off related to a $63.8 million rent stabilized multifamily loan relationship, with $44 million transferred to non-accrual status.
Total criticized and classified loans decreased to 1.89% of total loans from 2.26% last quarter, and 30 to 89 day delinquencies decreased to 0.03%.
Allowance for credit losses to loans was 1.18%, down from 1.3% last quarter due to reserve allocation usage.
Tangible book value per share increased 3.1% sequentially to $24.66 and 12.4% year over year.
Tangible common equity ratio rose to 8.78%.
Year to date, 90,000 shares were repurchased at an average price of $26.21; no shares repurchased in the quarter but 550,000 shares remain authorized.
The board declared a common dividend of $0.195 per share, unchanged from last quarter.

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Transcript

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Operator0:01

안녕하세요, 여러분. 참여해 주셔서 감사합니다. ConnectOne Bancorp Inc. 2026년 2분기 실적 발표 컨퍼런스 콜에 오신 것을 환영합니다. 오늘 준비된 발언이 끝난 후 질의응답 시간을 갖겠습니다. 질문을 하시려면 별표 1번을 눌러 손을 들어주시기 바랍니다. 질문을 철회하시려면 다시 별표 1번을 눌러주십시오. 이제 컨퍼런스를 브랜드 및 혁신 총괄 책임자인 시야 반시아에게 넘기겠습니다.

Siya VansiaChief Brand and Innovation Officer0:29

시야, 진행해 주시기 바랍니다. 안녕하세요, 오늘 컨퍼런스 콜에 참석해 주셔서 감사합니다. 2026년 2분기 ConnectOne의 실적을 검토하고 최근 진행 상황을 업데이트해 드리겠습니다.

Siya VansiaChief Brand and Innovation Officer0:40

오늘 컨퍼런스 콜에는 프랭크 소렌티노 회장 겸 최고경영자와 빌 번스 수석 부사장 겸 최고재무책임자가 함께합니다. 오늘 컨퍼런스 콜 중에 위험과 불확실성에 따른 미래 예측성 발언이 있을 수 있음을 알려드립니다. 실제 결과가 기대치와 크게 다를 수 있는 요인은 당사의 SEC 제출 서류에 상세히 나와 있습니다. 이 컨퍼런스 콜에 포함된 미래 예측성 발언은 콜이 진행되는 시점에 한해 유효하며, 회사는 이를 공개적으로 업데이트하거나 수정할 의무가 없습니다.

Siya VansiaChief Brand and Innovation Officer1:14

또한, 이번 콜에서 사용된 일부 용어는 비-GAAP 재무 지표이며, 이에 대한 조정 내역은 오늘 SEC에 제출된 Form 8-K의 당사 실적 발표 자료 및 부속 표나 일정에서 확인할 수 있으며, 회사 웹사이트에서도 접근 가능합니다. 이제 프랭크 소렌티노에게 마이크를 넘기겠습니다.

Frank SorrentinoChairman and CEO1:34

프랭크, 진행해 주시기 바랍니다. 감사합니다, 시야. 안녕하세요, 여러분.

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