Revenue growth has accelerated significantly to $108.8 million in 2026Q1, though net interest margins remain compressed at 0.8% due to elevated funding costs.
| Metric | TTM | Dec'25 | Dec'24 | Dec'23 | Dec'22 | Dec'21 | Dec'20 | Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | Dec'11 | Dec'10 | Dec'09 | Dec'08 | Dec'07 | Dec'06 | Dec'05 | Dec'04 | Dec'03 | Dec'02 | Dec'01 | Dec'00 | Dec'99 | Dec'98 | Dec'97 | Dec'96 |
|---|
| Net Interest Income | 396.3M | 353.25M | 242.99M | 251.44M | 300.46M | 261.91M | 236.35M | 184.54M | 155.2M | 143.65M | 128.74M | 116.07M | 78.76M | 45.66M | 42.93M | 39.12M | 33.22M | 28.46M | 25.03M | 21.5M | 24.35M | 27.21M | 26.08M | 23.19M | 25.95M | 22.36M | 19.47M | 19.29M | 17.1M | 16.2M | 14.8M |
| NII Growth % | 236.41% | 45.38% | -3.36% | -16.31% | 14.72% | 10.81% | 28.07% | 18.9% | 8.04% | 11.58% | 10.91% | 47.37% | 72.49% | 6.37% | 9.73% | 17.75% | 16.72% | 13.73% | 16.41% | -11.71% | -10.5% | 4.32% | 12.45% | -10.61% | 16.03% | 14.84% | 0.94% | 12.81% | 5.56% | 9.46% | 13.85% |
| Net Interest Margin % | 2.79% | 2.52% | 2.46% | 2.55% | 3.12% | 3.22% | 3.13% | 2.99% | 2.84% | 2.81% | 2.91% | 2.89% | 2.28% | 2.73% | 2.63% | 2.73% | 2.75% | 2.38% | 2.45% | 2.11% | 2.32% | 2.44% | 2.58% | 2.52% | 3.15% | 3.24% | 3.42% | 3.79% | 3.64% | 3.42% | 3.22% |
| Interest Income | 704.48M | 644.87M | 513.54M | 486.4M | 372.09M | 300.77M | 306.56M | 269.71M | 214.12M | 179.9M | 159.83M | 139.89M | 93.57M | 56.74M | 54.7M | 51.3M | 48.15M | 51.11M | 49.12M | 52.13M | 53.33M | 50.5M | 40.05M | 35.92M | 40.47M | 38.37M | 35.66M | 32.09M | 30.7M | 30.7M | 26.4M |
| Interest Expense | 308.18M | 291.62M | 270.55M | 234.96M | 71.63M | 38.86M | 70.21M | 85.17M | 58.92M | 36.26M | 31.1M | 23.81M | 14.81M | 11.08M | 11.78M | 12.18M | 14.79M | 22.64M | 24.09M | 30.63M | 28.97M | 23.3M | 13.97M | 12.73M | 14.52M | 16.01M | 16.18M | 12.8M | 13.6M | 14.5M | 11.6M |
| Loan Loss Provision | 48.7M | 47M | 13.8M | 8.2M | 17.75M | -5.5M | 41M | 8.1M | 21.1M | 6M | 38.7M | 12.61M | 4.68M | 350K | 325K | 2.45M | 5.08M | 4.6M | 1.56M | 350K | 57K | 0 | 752K | 522K | 360K | 656K | 363K | 108K | 100K | 6K | -100K |
| Non-Interest Income | 29.61M | -38.4M | 21.08M | 17.66M | 14.9M | 15.99M | 16.04M | 9.81M | 7.49M | 9.63M | 11.33M | 10.03M | 8.13M | 7.37M | 6.88M | 8.11M | 3.04M | 3.91M | 3.42M | 4.37M | 633K | 3.84M | 3.39M | 3.25M | 3.33M | 2.49M | 1.63M | 1.09M | 1M | 1.12M | 700K |
| Non-Interest Income % | 4.03% | -6.33% | 3.94% | 3.5% | 3.85% | 5.05% | 4.97% | 3.51% | 3.38% | 5.08% | 6.62% | 6.69% | 8% | 11.5% | 11.17% | 13.65% | 5.94% | 7.1% | 6.5% | 7.74% | 1.17% | 7.06% | 7.8% | 8.29% | 7.61% | 6.09% | 4.38% | 3.28% | 3.15% | 3.51% | 2.58% |
| Total Revenue | 734.09M | 606.47M | 534.62M | 504.07M | 386.99M | 316.75M | 322.6M | 279.52M | 221.61M | 189.53M | 171.16M | 149.92M | 101.7M | 64.12M | 61.58M | 59.41M | 51.19M | 55.02M | 52.54M | 56.5M | 53.96M | 54.34M | 43.44M | 39.17M | 43.8M | 40.86M | 37.29M | 33.18M | 31.7M | 31.82M | 27.1M |
| Revenue Growth % | 153.88% | 13.44% | 6.06% | 30.25% | 22.17% | -1.81% | 15.41% | 26.13% | 16.93% | 10.73% | 14.17% | 47.4% | 58.62% | 4.12% | 3.67% | 16.06% | -6.96% | 4.72% | -7.01% | 4.71% | -0.7% | 25.1% | 10.9% | -10.59% | 7.21% | 9.57% | 12.38% | 4.67% | -0.37% | 17.41% | 20.44% |
| Non-Interest Expense | 239.34M | 155.11M | 151.8M | 143.95M | 126.39M | 108.34M | 121M | 92.23M | 70.45M | 78.76M | 58.51M | 52.26M | 54.8M | 25.28M | 24.3M | 23.44M | 24.1M | 23.06M | 19.47M | 24.6M | 24.36M | 22.21M | 19.47M | 18.34M | 17.2M | 15.22M | 13.35M | 13.29M | 11.7M | 10.61M | 9.8M |
| Efficiency Ratio | 32.6% | 25.58% | 28.39% | 28.56% | 32.66% | 34.2% | 37.51% | 33% | 31.79% | 41.56% | 34.18% | 34.86% | 53.89% | 39.42% | 39.46% | 39.46% | 47.08% | 41.91% | 37.06% | 43.54% | 45.14% | 40.88% | 44.83% | 46.82% | 39.26% | 37.24% | 35.79% | 40.05% | 36.91% | 33.35% | 36.16% |
| Operating Income | 137.87M | 112.74M | 98.47M | 116.96M | 171.22M | 175.06M | 90.39M | 94.03M | 71.13M | 68.51M | 42.86M | 61.24M | 27.41M | 27.41M | 25.18M | 21.34M | 7.23M | 4.72M | 7.41M | 923K | 569K | 8.83M | 9.25M | 7.58M | 11.72M | 8.98M | 7.39M | 6.98M | 6.3M | 6.7M | 5.8M |
| Operating Margin % | 18.78% | 18.59% | 18.42% | 23.2% | 44.25% | 55.27% | 28.02% | 33.64% | 32.1% | 36.15% | 25.04% | 40.85% | 26.95% | 42.75% | 40.89% | 35.92% | 14.12% | 8.57% | 14.1% | 1.63% | 1.05% | 16.25% | 21.29% | 19.36% | 26.76% | 21.97% | 19.83% | 21.04% | 19.87% | 21.06% | 21.4% |
| Operating Income Growth % | - | 14.5% | -15.81% | -31.69% | -2.19% | 93.67% | -3.87% | 32.18% | 3.82% | 59.86% | -30.01% | 123.41% | 0% | 8.83% | 18.03% | 195.28% | 53.19% | -36.33% | 702.71% | 62.21% | -93.56% | -4.5% | 21.95% | -35.33% | 30.59% | 21.41% | 5.92% | 10.83% | -5.97% | 15.52% | 5.45% |
| Pretax Income | 137.87M | 112.74M | 98.47M | 116.96M | 171.22M | 175.06M | 90.39M | 94.03M | 71.13M | 68.51M | 42.86M | 61.24M | 27.41M | 27.41M | 25.18M | 21.34M | 7.23M | 4.72M | 7.41M | 923K | 569K | 8.83M | 9.25M | 7.58M | 11.72M | 8.98M | 7.39M | 6.98M | 6.3M | 6.7M | 5.8M |
| Pretax Margin % | 18.78% | 18.59% | 18.42% | 23.2% | 44.25% | 55.27% | 28.02% | 33.64% | 32.1% | 36.15% | 25.04% | 40.85% | 26.95% | 42.75% | 40.89% | 35.92% | 14.12% | 8.57% | 14.1% | 1.63% | 1.05% | 16.25% | 21.29% | 19.36% | 26.76% | 21.97% | 19.83% | 21.04% | 19.87% | 21.06% | 21.4% |
| Income Tax | 39.85M | 32.3M | 24.67M | 29.95M | 46.01M | 44.7M | 19.1M | 20.63M | 10.78M | 25.29M | 11.78M | 19.93M | 8.85M | 7.48M | 7.68M | 7.41M | 222K | 946K | 1.57M | -2.93M | -3.33M | 1.18M | 1.62M | 1.16M | 3.72M | 2.97M | 2.39M | 2.35M | 2.1M | 2.2M | 1.6M |
| Effective Tax Rate % | 28.9% | 28.65% | 25.06% | 25.61% | 26.87% | 25.54% | 21.13% | 21.94% | 15.16% | 36.92% | 27.48% | 32.54% | 32.27% | 27.3% | 30.48% | 34.73% | 3.07% | 20.06% | 21.15% | -317.77% | -585.06% | 13.41% | 17.56% | 15.34% | 31.74% | 33.05% | 32.32% | 33.7% | 33.33% | 32.84% | 27.59% |
| Net Income | 98.02M | 80.44M | 73.79M | 87M | 125.21M | 130.35M | 71.29M | 73.39M | 60.35M | 43.22M | 31.08M | 41.31M | 18.57M | 19.93M | 17.51M | 13.93M | 7M | 3.77M | 5.84M | 3.86M | 3.9M | 7.65M | 7.62M | 6.42M | 8M | 6.01M | 5M | 4.63M | 4.2M | 4.5M | 4.2M |
| Net Margin % | 13.35% | 13.26% | 13.8% | 17.26% | 32.36% | 41.15% | 22.1% | 26.26% | 27.23% | 22.8% | 18.16% | 27.56% | 18.25% | 31.08% | 28.43% | 23.44% | 13.68% | 6.85% | 11.12% | 6.82% | 7.22% | 14.07% | 17.55% | 16.39% | 18.27% | 14.71% | 13.42% | 13.95% | 13.25% | 14.14% | 15.5% |
| Net Income Growth % | 27.58% | 9.01% | -15.18% | -30.51% | -3.94% | 82.85% | -2.87% | 21.61% | 39.64% | 39.05% | -24.76% | 122.52% | -6.83% | 13.81% | 25.71% | 98.83% | 85.73% | -35.45% | 51.5% | -1.08% | -49.02% | 0.31% | 18.74% | -19.79% | 33.14% | 20.1% | 8.12% | 10.21% | -6.67% | 7.14% | 5% |
| Net Income (Continuing) | 98.02M | 80.44M | 73.79M | 87M | 125.21M | 130.35M | 71.29M | 73.39M | 60.35M | 43.22M | 31.08M | 41.31M | 18.57M | 19.93M | 17.51M | 13.93M | 7M | 3.77M | 5.84M | 3.86M | 3.9M | 7.65M | 7.62M | 6.42M | 8M | 6.01M | 5M | 4.63M | 4.2M | 4.5M | 4.2M |
| EPS (Diluted) | 1.94 | 1.48 | 1.76 | 2.07 | 3.01 | 3.22 | 1.79 | 2.07 | 1.87 | 1.34 | 1.01 | 1.36 | 0.79 | 1.21 | 1.05 | 0.80 | 0.43 | 0.30 | 0.45 | 0.28 | 0.27 | 0.60 | 0.71 | 0.61 | 0.82 | 0.59 | 0.52 | 0.48 | 0.41 | 0.47 | 0.44 |
| EPS Growth % | 2.16% | -15.91% | -14.98% | -31.23% | -6.52% | 79.89% | -13.53% | 10.7% | 39.55% | 32.67% | -25.74% | 72.15% | -34.71% | 15.24% | 31.25% | 86.05% | 43.33% | -33.33% | 60.71% | 3.7% | -55% | -15.49% | 16.39% | -25.61% | 38.98% | 13.46% | 8.33% | 17.07% | -12.77% | 6.82% | 2.33% |
| EPS (Basic) | - | 1.48 | 1.77 | 2.07 | 3.03 | 3.24 | 1.80 | 2.08 | 1.88 | 1.35 | 1.02 | 1.37 | 0.80 | 1.21 | 1.05 | 0.80 | 0.43 | 0.30 | 0.45 | 0.28 | 0.27 | 0.60 | 0.72 | 0.62 | 0.82 | 0.60 | 0.52 | 0.48 | 0.42 | 0.47 | 0.44 |
| Diluted Shares Outstanding | 50.41M | 50.41M | 38.52M | 38.96M | 39.48M | 40.48M | 39.64M | 35.29M | 32.36M | 32.24M | 30.69M | 30.28M | 23.48M | 16.39M | 16.35M | 16.32M | 15.03M | 13.38M | 13.06M | 13.84M | 14.74M | 12.72M | 10.74M | 10.41M | 9.79M | 10.14M | 9.69M | 9.7M | 10.12M | 9.5M | 9.42M |
CRE concentration and funding
According to the provided quarterly data, ConnectOne Bancorp's net interest income surged to $108.8 million in 2026Q1, representing a significant 67.7% growth rate compared to prior periods, suggesting that the bank has successfully navigated the recent interest rate cycle to expand its core interest-earning capacity.
The sharp uptick in NII suggests that the bank's loan repricing efforts are finally outpacing the rising cost of interest-bearing deposits. Investors should monitor whether this trajectory is sustainable or if it reflects a temporary benefit from asset-sensitive loan structures that may face headwinds if rates stabilize or decline.
As reported in financial statements, the bank's net interest margin has remained compressed at 0.8% as of 2026Q1, indicating that despite top-line growth, the cost of funding remains a persistent drag on the bank's ability to capture wider spreads in the current competitive environment.
The narrow NIM suggests that ConnectOne is forced to pay up for deposits to maintain its liquidity position, which limits the profitability of its commercial lending engine. This margin profile warrants further investigation into the bank's deposit beta and whether it can shift its funding mix toward lower-cost core deposits.
Based on the bank's reported figures, the efficiency ratio stood at 28.7% in 2026Q1, demonstrating that ConnectOne maintains a lean operating structure that allows it to convert a substantial portion of its revenue into pre-provision net revenue despite the challenges of the current regional banking landscape.
This low efficiency ratio appears to be a core competitive advantage, suggesting that the bank's high-touch, low-overhead model is effectively insulating its bottom line from inflationary pressures. Maintaining this discipline is critical, as any expansion in the ratio could signal a loss of the operational leverage that currently supports its valuation.
Data from the income statement shows a provision for loan losses of $5.2 million in 2026Q1, following a significant $35.7 million spike in 2025Q2, which highlights the bank's sensitivity to credit quality shifts within its concentrated commercial real estate and middle-market loan portfolio.
The volatility in provision expense suggests that the bank is actively managing its CECL reserves in response to the evolving risk profile of its regional property exposures. Investors should monitor whether these provisions are sufficient to cover potential defaults in the NYC/NJ corridor, as any further deterioration in asset quality could necessitate additional, earnings-dilutive charges.
Quick answers to the most common questions about buying CNOB stock.
ConnectOne Bancorp, Inc. (CNOB) is profitable, generating $80.4M in net income for the fiscal year ending 2025 with a net profit margin of 13.3%.
ConnectOne Bancorp, Inc. (CNOB) reported an operating income of $112.7M, resulting in an operating profit margin of 18.6%. This margin reflects the operational efficiency of the business before interest and taxes.
ConnectOne Bancorp, Inc. (CNOB) generated $267.9M in gross profit for the year, representing a gross profit margin of 44.2%. This demonstrates the company's core pricing power and production efficiency.