ConnectOne Bancorp, Inc. (CNOB) 10-Year Financial Performance & Capital Metrics

CNOB • • Banking & Credit

Financial ServicesRegional BanksCommercial & Business BankingCommercial & Corporate Banking

AboutConnectOne Bancorp, Inc. operates as the bank holding company for ConnectOne Bank that provides commercial banking products and services for small and mid-sized businesses, local professionals, and individuals in the Northern New Jersey and New York Metropolitan area, and South Florida market. The company offers personal and business checking, retirement, money market, and time and savings accounts. It also provides consumer and commercial business loans on a secured and unsecured basis; revolving lines of credit; commercial mortgage loans; residential mortgages on primary and secondary residences; home equity loans; bridge loans; other personal purpose loans; and commercial construction and real estate loans. In addition, the company offers check cards, ATM cards, credit cards, wire transfers, access to automated teller services, Internet banking, treasury direct, automated clearing house origination, mobile banking by phone, safe deposit boxes, and remote deposit capture services. It operates through a network of eight banking offices in Bergen County, five banking offices in Union County, one banking office in Morris County, one office in Essex County, one office in Hudson County, one office in Monmouth County, one banking office in Manhattan in New York City, one office in Nassau County on Long Island, one in Astoria, and five branches in the Hudson Valley, as well as one financial center in West Palm Beach in Palm Beach County. The company was formerly known as Center Bancorp, Inc. and changed its name to ConnectOne Bancorp, Inc. in July 2014. ConnectOne Bancorp, Inc. was incorporated in 1982 and is headquartered in Englewood Cliffs, New Jersey.Show more

Net Interest Income $243M -3.4%
Total Revenue $535M +6.1%
Net Income $74M -15.2%
Return on Equity 6% -17.4%
Net Interest Margin 2.46% -3.6%
Efficiency Ratio 28.39% -0.6%
ROA 0.75% -16.2%
Equity / Assets 12.57% +1.8%
Book Value per Share 32.23 +3.2%
Tangible BV/Share 26.70 +3.8%
Debt/Equity 0.63 -25.2%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Efficient operations: 28.4% efficiency ratio
✓Well capitalized: 12.6% equity/assets
✓Healthy dividend yield of 2.6%
✓Trading near 52-week high
✓Trading at only 0.8x book value

✗Weaknesses

No significant weaknesses identified

Price & Volume

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Growth Metrics

Revenue CAGR

10Y18.05%

5Y13.85%

3Y19.06%

TTM-

Profit (Net Income) CAGR

10Y14.8%

5Y0.11%

3Y-17.28%

TTM-15.68%

EPS CAGR

10Y8.34%

5Y-3.19%

3Y-18.24%

TTM-17.82%

ROCE

10Y Avg6.23%

5Y Avg7.03%

3Y Avg6.25%

Latest5.3%

Peer Comparison

Commercial & Corporate Banking

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
TCBITexas Capital Bancshares, Inc.	4.49B	98.37	76.85	-1.72%	4.4%	7.92%	9.27%	0.46
BANCBanc of California, Inc.	3.15B	20.87	40.13	24.65%	6.78%	6.01%	2.04%	0.67
DBDeutsche Bank AG	74.26B	38.87	28.37	11.78%	5.07%	7.18%		1.91
HTHHilltop Holdings Inc.	2.2B	35.83	20.59	2.5%	7.35%	7.2%	12.14%	0.61
SFBSServisFirst Bancshares, Inc.	4.28B	78.31	18.82	17.89%	23.26%	14.33%	5.8%	1.27
CMAComerica Incorporated	11.69B	91.51	18.23	-4.95%	13.98%	10.57%	3.83%	1.02
BOKFBOK Financial Corporation	8.08B	127.69	15.69	10.4%	15.57%	8.91%	15.59%	0.80
CNOBConnectOne Bancorp, Inc.	1.37B	27.26	15.49	6.06%	13.8%	3.98%	4.15%	0.63

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Net Interest Income+	116.07M	128.74M	143.65M	155.2M	184.54M	236.35M	261.91M	300.46M	251.44M	242.99M
NII Growth %	0.47%	0.11%	0.12%	0.08%	0.19%	0.28%	0.11%	0.15%	-0.16%	-0.03%
Net Interest Margin %	-	-	-	-	-	-	-	-	-	-
Interest Income	139.89M	159.83M	179.9M	214.12M	269.71M	306.56M	300.77M	372.09M	486.4M	513.54M
Interest Expense	23.81M	31.1M	36.26M	58.92M	85.17M	70.21M	38.86M	71.63M	234.96M	270.55M
Loan Loss Provision	12.61M	38.7M	6M	21.1M	8.1M	41M	-5.5M	17.75M	8.2M	13.8M
Non-Interest Income+	10.03M	11.33M	9.63M	7.49M	9.81M	16.04M	15.99M	14.9M	17.66M	21.08M
Non-Interest Income %	-	-	-	-	-	-	-	-	-	-
Total Revenue+	149.92M	171.16M	189.53M	221.61M	279.52M	322.6M	316.75M	386.99M	504.07M	534.62M
Revenue Growth %	0.47%	0.14%	0.11%	0.17%	0.26%	0.15%	-0.02%	0.22%	0.3%	0.06%
Non-Interest Expense	52.26M	58.51M	78.76M	70.45M	92.23M	121M	108.34M	126.39M	143.95M	151.8M
Efficiency Ratio	-	-	-	-	-	-	-	-	-	-
Operating Income+	61.24M	42.86M	68.51M	71.13M	94.03M	90.39M	175.06M	171.22M	116.96M	98.47M
Operating Margin %	-	-	-	-	-	-	-	-	-	-
Operating Income Growth %	1.23%	-0.3%	0.6%	0.04%	0.32%	-0.04%	0.94%	-0.02%	-0.32%	-0.16%
Pretax Income+	61.24M	42.86M	68.51M	71.13M	94.03M	90.39M	175.06M	171.22M	116.96M	98.47M
Pretax Margin %	-	-	-	-	-	-	-	-	-	-
Income Tax+	19.93M	11.78M	25.29M	10.78M	20.63M	19.1M	44.7M	46.01M	29.95M	24.67M
Effective Tax Rate %	-	-	-	-	-	-	-	-	-	-
Net Income+	41.31M	31.08M	43.22M	60.35M	73.39M	71.29M	130.35M	125.21M	87M	73.79M
Net Margin %	-	-	-	-	-	-	-	-	-	-
Net Income Growth %	1.23%	-0.25%	0.39%	0.4%	0.22%	-0.03%	0.83%	-0.04%	-0.31%	-0.15%
Net Income (Continuing)	41.31M	31.08M	43.22M	60.35M	73.39M	71.29M	130.35M	125.21M	87M	73.79M
EPS (Diluted)+	1.36	1.01	1.34	1.87	2.07	1.79	3.22	3.01	2.07	1.76
EPS Growth %	0.72%	-0.26%	0.33%	0.4%	0.11%	-0.14%	0.8%	-0.07%	-0.31%	-0.15%
EPS (Basic)	1.37	1.02	1.35	1.88	2.08	1.80	3.24	3.03	2.07	1.77
Diluted Shares Outstanding	30.28M	30.69M	32.24M	32.36M	35.29M	39.64M	40.48M	39.48M	38.96M	38.52M

Balance Sheet

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash & Short Term Investments+	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Cash & Due from Banks	200.9M	200.4M	149.58M	172.37M	201.48M	303.76M	265.54M	268.31M	242.71M	356.49M
Short Term Investments	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Total Investments+	3.49B	3.88B	4.6B	4.93B	5.52B	6.66B	7.3B	8.67B	8.9B	8.83B
Investments Growth %	0.15%	0.11%	0.19%	0.07%	0.12%	0.21%	0.1%	0.19%	0.03%	-0.01%
Long-Term Investments	3.3B	3.53B	4.16B	4.52B	5.12B	6.18B	6.76B	8.04B	8.28B	8.82B
Accounts Receivables	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Goodwill & Intangibles+	-	-	-	-	-	-	-	-	-	-
Goodwill	145.91M	145.91M	145.91M	145.91M	162.57M	208.37M	208.37M	208.37M	208.37M	208.37M
Intangible Assets	3.91M	3.09M	2.36M	1.74M	5.46M	10.98M	9M	7.31M	5.87M	4.64M
PP&E (Net)	22.33M	22.07M	21.66M	19.06M	34.37M	46.27M	40.05M	37.98M	42.79M	42.94M
Other Assets	138.06M	160.53M	173.62M	175.17M	224.82M	279.52M	273.97M	403.26M	407.85M	395.86M
Total Current Assets	409.21M	566.65M	600.34M	602.61M	627.13M	827.03M	834.2M	949.26M	908.98M	406.2M
Total Non-Current Assets	3.61B	3.86B	4.51B	4.86B	5.55B	6.72B	7.3B	8.7B	8.95B	9.47B
Total Assets+	4.02B	4.43B	5.11B	5.46B	6.17B	7.55B	8.13B	9.64B	9.86B	9.88B
Asset Growth %	0.16%	0.1%	0.15%	0.07%	0.13%	0.22%	0.08%	0.19%	0.02%	0%
Return on Assets (ROA)	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.02%	0.01%	0.01%	0.01%
Accounts Payable	0	0	0	0	0	0	0	0	0	0
Total Debt+	726.74M	530.81M	724.78M	728.56M	645.63M	646.63M	633.56M	1.02B	1.03B	783.51M
Net Debt	525.85M	330.42M	575.19M	556.19M	444.14M	342.87M	368.02M	753.96M	783.48M	427.02M
Long-Term Debt	725.93M	530.81M	724.78M	728.56M	629.18M	628.6M	621.14M	1.01B	1.01B	107.48M
Short-Term Debt	0	0	0	0	0	0	0	0	0	664.11M
Other Liabilities	21.67M	20.23M	23.1M	27.52M	29.67M	26.18M	38.75M	87.3M	76.59M	34.28M
Total Current Liabilities	2.79B	3.34B	3.8B	4.09B	4.77B	5.96B	6.33B	7.36B	7.54B	8.48B
Total Non-Current Liabilities	747.6M	551.04M	747.88M	756.07M	675.3M	672.8M	672.32M	1.11B	1.1B	157.25M
Total Liabilities	3.54B	3.9B	4.54B	4.85B	5.44B	6.63B	7.01B	8.47B	8.64B	8.64B
Total Equity+	477.34M	531.03M	565.44M	613.93M	731.19M	915.31M	1.12B	1.18B	1.22B	1.24B
Equity Growth %	0.07%	0.11%	0.06%	0.09%	0.19%	0.25%	0.23%	0.05%	0.03%	0.02%
Equity / Assets (Capital Ratio)	-	-	-	-	-	-	-	-	-	-
Return on Equity (ROE)	0.09%	0.06%	0.08%	0.1%	0.11%	0.09%	0.13%	0.11%	0.07%	0.06%
Book Value per Share	15.76	17.30	17.54	18.97	20.72	23.09	27.77	29.86	31.23	32.23
Tangible BV per Share	-	-	-	-	-	-	-	-	-	-
Common Stock	374.29M	412.73M	412.55M	412.55M	468.57M	586.95M	586.95M	586.95M	586.95M	586.95M
Additional Paid-in Capital	8.53M	11.41M	13.6M	15.54M	21.34M	23.89M	27.25M	30.13M	33.18M	36.35M
Retained Earnings	104.61M	126.46M	160.03M	211.34M	271.78M	331.95M	440.17M	535.91M	590.97M	631.45M
Accumulated OCI	-4.61M	-2.85M	-4.02M	-8.79M	-1.15M	2.8M	-1.4M	-32.36M	-35.11M	-47.85M
Treasury Stock	-16.72M	-16.72M	-16.72M	-16.72M	-29.36M	-30.27M	-39.67M	-52.8M	-70.3M	-76.12M
Preferred Stock	11.25M	0	0	0	0	0	110.93M	110.93M	110.93M	110.93M

Cash Flow

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	46.23M	49.71M	131.13M	89.06M	60.69M	81.13M	202.27M	176.78M	92.89M	60.7M
Operating CF Growth %	0.84%	0.08%	1.64%	-0.32%	-0.32%	0.34%	1.49%	-0.13%	-0.47%	-0.35%
Net Income	41.31M	31.08M	43.22M	60.35M	73.39M	71.29M	130.35M	125.21M	87M	73.79M
Depreciation & Amortization	3.23M	3.52M	3.88M	3.69M	4.46M	6.8M	5.74M	5.5M	5.94M	5.66M
Deferred Taxes	-3.49M	1.97M	3.7M	926K	104K	-7.5M	16K	-403K	4.13M	-2.04M
Other Non-Cash Items	5.26M	28.41M	71.55M	21.17M	4.18M	45.76M	4.62M	17.76M	10.81M	6.69M
Working Capital Changes	-824K	-17.45M	7.09M	1.11M	-24.39M	-38.09M	57.01M	23.82M	-19.86M	-27.97M
Cash from Investing+	-504.75M	-427.67M	-817.73M	-357.21M	-102.47M	-323.37M	-689.86M	-1.54B	-248.04M	55.15M
Purchase of Investments	-54.93M	-166.53M	-224.62M	-140.01M	-225.85M	-340.09M	-350.28M	-349.56M	-45.01M	-82.05M
Sale/Maturity of Investments	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Net Investment Activity	-	-	-	-	-	-	-	-	-	-
Acquisitions	0	0	0	0	11.21M	87.39M	974K	0	0	0
Other Investing	-590.69M	-496.04M	-729.09M	-357.01M	-248.71M	-344.88M	-623.64M	-1.34B	-260.14M	71.34M
Cash from Financing+	531.65M	377.46M	635.78M	290.94M	70.9M	344.51M	449.37M	1.37B	129.55M	-2.08M
Dividends Paid	-9.11M	-9.09M	-9.61M	-9.66M	-12.16M	-14.32M	-19.21M	-29.46M	-31.95M	-33.32M
Share Repurchases	0	0	0	-819K	-12.64M	-1.55M	-10.68M	-15.26M	-19.4M	-7.22M
Stock Issued	0	38.44M	417K	0	0	0	0	0	0	0
Net Stock Activity	-	-	-	-	-	-	-	-	-	-
Debt Issuance (Net)	1000K	-1000K	1000K	1000K	-1000K	-1000K	-1000K	1000K	936K	-1000K
Other Financing	298.29M	554.36M	436.39M	297.9M	260.85M	410.84M	376.06M	1.02B	179.96M	284M
Net Change in Cash+	74.05M	-496K	-50.82M	22.78M	29.12M	102.27M	-38.22M	2.78M	-25.6M	113.77M
Exchange Rate Effect	0	0	0	0	0	0	0	0	0	0
Cash at Beginning	126.85M	200.9M	200.4M	149.58M	172.37M	201.48M	303.76M	265.54M	268.31M	242.71M
Cash at End	200.9M	200.4M	149.58M	172.37M	201.48M	303.76M	265.54M	268.31M	242.71M	356.49M
Interest Paid	23.36M	30.86M	36.72M	55.66M	88.52M	74.7M	41.79M	67.85M	230.81M	270.95M
Income Taxes Paid	17.88M	22.95M	16.2M	9.09M	18.5M	26.55M	45.43M	49.23M	31.65M	24M
Free Cash Flow+	42.35M	47.01M	128.47M	87.01M	59.16M	78.93M	199.49M	173.48M	85.46M	56.91M
FCF Growth %	0.83%	0.11%	1.73%	-0.32%	-0.32%	0.33%	1.53%	-0.13%	-0.51%	-0.33%

Banking Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	8.95%	6.16%	7.88%	10.23%	10.91%	8.66%	12.78%	10.87%	7.26%	6%
Return on Assets (ROA)	1.11%	0.74%	0.91%	1.14%	1.26%	1.04%	1.66%	1.41%	0.89%	0.75%
Net Interest Margin	2.89%	2.91%	2.81%	2.84%	2.99%	3.13%	3.22%	3.12%	2.55%	2.46%
Efficiency Ratio	34.86%	34.18%	41.56%	31.79%	33%	37.51%	34.2%	32.66%	28.56%	28.39%
Equity / Assets	11.88%	12%	11.07%	11.24%	11.84%	12.13%	13.83%	12.22%	12.34%	12.57%
Book Value / Share	15.76	17.3	17.54	18.97	20.72	23.09	27.77	29.86	31.23	32.23
NII Growth	47.37%	10.91%	11.58%	8.04%	18.9%	28.07%	10.81%	14.72%	-16.31%	-3.36%
Dividend Payout	21.78%	29.17%	22.24%	16.01%	16.57%	20.08%	13.42%	18.71%	29.78%	36.97%

Frequently Asked Questions

Valuation & Price

ConnectOne Bancorp, Inc. (CNOB) has a price-to-earnings (P/E) ratio of 15.5x. This is roughly in line with market averages.

Growth & Financials

ConnectOne Bancorp, Inc. (CNOB) grew revenue by 6.1% over the past year. This is steady growth.

Yes, ConnectOne Bancorp, Inc. (CNOB) is profitable, generating $61.3M in net income for fiscal year 2024 (13.8% net margin).

Dividend & Returns

Yes, ConnectOne Bancorp, Inc. (CNOB) pays a dividend with a yield of 2.60%. This makes it attractive for income-focused investors.

ConnectOne Bancorp, Inc. (CNOB) has a return on equity (ROE) of 6.0%. This is below average, suggesting room for improvement.

Industry Metrics

ConnectOne Bancorp, Inc. (CNOB) has a net interest margin (NIM) of 2.5%. NIM has been under pressure due to interest rate environment.

ConnectOne Bancorp, Inc. (CNOB) has an efficiency ratio of 28.4%. This is excellent, indicating strong cost control.

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