Connectone Bancorp Pref Share CNOBP 5.25 Perp 09/01/26 | 8-K: FY2026 Q2 Revenue: USD 121.57 M

Revenue: As of FY2026 Q2, the actual value is USD 121.57 M.

EPS: As of FY2026 Q2, the actual value is USD 0.8.

EBIT: As of FY2026 Q2, the actual value is USD 57.85 M.

Net Income and Operating Income

Net income available to common stockholders for ConnectOne Bancorp, Inc. Depositary Shs Repr 1/40th Fix/Fltg Non-Cum Red Perp Pfd Rg Shs Ser A was $40.2 million for the second quarter of 2026, an increase from $36.3 million in the first quarter of 2026 and a significant improvement from - $21.8 million in the second quarter of 2025. Operating net income available to common stockholders was $42.2 million for the second quarter of 2026, compared to $39.6 million for the first quarter of 2026 and $23.1 million for the second quarter of 2025.

Net Interest Income and Margin

Fully taxable equivalent net interest income for the second quarter of 2026 was $114.8 million, increasing by $4.9 million (4.4%) from the first quarter of 2026 and by $35.0 million (43.9%) from the second quarter of 2025. The net interest margin widened to 3.42% in the second quarter of 2026, up from 3.39% in the first quarter of 2026 and 3.06% in the second quarter of 2025.

Noninterest Income and Expenses

Noninterest income reached $7.9 million in the second quarter of 2026, up from $6.8 million in the first quarter of 2026 and $5.2 million in the second quarter of 2025. Noninterest expenses were $55.4 million for the second quarter of 2026, a decrease from $57.9 million in the first quarter of 2026 and $73.6 million in the second quarter of 2025. Excluding merger expenses and restructuring charges, noninterest expenses totaled $55.3 million in Q2 2026, $55.7 million in Q1 2026, and $42.9 million in Q2 2025.

Provision for Credit Losses

The provision for credit losses was $8.3 million for the second quarter of 2026, compared to $5.2 million for the first quarter of 2026 and $35.7 million for the second quarter of 2025.

Income Tax Expense

Income tax expense was $16.2 million for the second quarter of 2026, up from $14.7 million for the first quarter of 2026, and a change from a benefit of - $5.0 million for the second quarter of 2025.

Balance Sheet Highlights

Total assets were $14.4 billion as of June 30, 2026, an increase from $14.0 billion as of December 31, 2025. Loans receivable stood at $11.9 billion as of June 30, 2026, up from $11.5 billion as of December 31, 2025. Total deposits were $11.7 billion as of June 30, 2026, compared to $11.2 billion as of December 31, 2025. Total stockholders’ equity increased to $1.627 billion as of June 30, 2026, from $1.573 billion as of December 31, 2025.

Capital and Book Value

The Company’s tangible common equity ratio was 8.78% as of June 30, 2026, up from 8.62% as of December 31, 2025. Tangible book value per share increased to $24.66 as of June 30, 2026, from $23.52 as of December 31, 2025.

Dividends Declared

The Board of Directors declared a cash dividend on common stock of $0.195 per share and a dividend of $0.328125 per depositary share for preferred stock.

Operational Metrics

Sequential loan growth was approximately 5% annualized, and core deposit growth was approximately 8% annualized. The operating efficiency ratio (non-GAAP) improved to 42.7% in Q2 2026, from 45.4% in Q1 2026 and 49.2% in Q2 2025.

Asset Quality

Nonperforming assets were $79.7 million as of June 30, 2026, increasing from $41.6 million as of March 31, 2026, and $39.2 million as of June 30, 2025. Nonperforming assets as a percentage of total assets rose to 0.55% as of June 30, 2026, compared to 0.29% as of March 31, 2026, and 0.28% as of June 30, 2025. The allowance for credit losses (ACL) represented 1.18% of loans receivable as of June 30, 2026, down from 1.30% as of March 31, 2026, and 1.40% as of June 30, 2025. The annualized net loan charge-offs ratio (excluding PCD loans) was 0.56% for Q2 2026, compared to 0.08% for Q1 2026 and 0.22% for Q2 2025.

Outlook/Guidance

ConnectOne Bancorp, Inc. Depositary Shs Repr 1/40th Fix/Fltg Non-Cum Red Perp Pfd Rg Shs Ser A is committed to enhancing operating performance through technological innovation. The company anticipates delivering profitable growth and creating long-term value for shareholders by executing strategic priorities. ConnectOne Bank has executed a $50.0 million capital commitment to a renewable energy tax credit fund to help maintain a projected full-year 2026 effective tax rate of approximately 28%.