CNOB
CNOB
ConnectOne Bancorp, Inc.Income Statement
| Period | Revenue | Operating Expense | Net Income | Net Profit Margin | Earnings Per Share | EBITDA |
|---|---|---|---|---|---|---|
| Q4-2025 | $188.81M ▼ | $53.4M ▼ | $39.52M ▼ | 20.93% ▲ | $0.76 ▼ | $53.37M ▼ |
| Q3-2025 | $207.12M ▲ | $58.67M ▼ | $40.98M ▲ | 19.78% ▲ | $1.07 ▲ | $62.29M ▲ |
| Q2-2025 | $151.22M ▲ | $73.65M ▲ | $-20.29M ▼ | -13.42% ▼ | $-0.57 ▼ | $-22.7M ▼ |
| Q1-2025 | $129.24M ▼ | $39.3M ▲ | $20.24M ▼ | 15.66% ▲ | $0.49 | $28.72M ▲ |
| Q4-2024 | $131.78M | $38.5M | $20.37M | 15.46% | $0.49 | $27.89M |
What's going well?
The company is still profitable, with a healthy 21% net margin. Costs are being managed well, as operating expenses fell in line with revenue.
What's concerning?
Revenue dropped sharply, and a big increase in share count diluted earnings per share. Interest costs remain high, eating into profits.
Balance Statement
| Period | Cash & Short-term | Total Assets | Total Liabilities | Total Equity |
|---|---|---|---|---|
| Q4-2025 | $1.34B ▲ | $14B ▼ | $12.43B ▼ | $1.57B ▲ |
| Q3-2025 | $1.18B ▼ | $14.02B ▲ | $12.49B ▲ | $1.54B ▲ |
| Q2-2025 | $1.26B ▲ | $13.92B ▲ | $12.42B ▲ | $1.5B ▲ |
| Q1-2025 | $706.12M ▲ | $9.76B ▼ | $8.51B ▼ | $1.25B ▲ |
| Q4-2024 | $360.7M | $9.88B | $8.64B | $1.24B |
What's financially strong about this company?
The company has a fortress-like cash position, very low short-term debt, and most assets are high quality and liquid. Shareholder equity is solid and the company has a long history of profitability.
What are the financial risks or weaknesses?
The sudden, massive increase in receivables and drop in current liabilities is unusual and could signal a change in business model or accounting. Debt has also crept up, and working capital is now heavily tied to receivables.
Cash Flow Statement
| Period | Net Income | Cash From Operations | Cash From Investing | Cash From Financing | Net Change | Free Cash Flow |
|---|---|---|---|---|---|---|
| Q4-2025 | $39.52M ▼ | $47.7M ▲ | $-139.98M ▲ | $-69.56M ▼ | $-161.84M ▼ | $47.11M ▲ |
| Q3-2025 | $40.98M ▲ | $37.35M ▲ | $-145.23M ▼ | $54.08M ▼ | $-53.8M ▼ | $33.89M ▲ |
| Q2-2025 | $-20.29M ▼ | $6.46M ▼ | $39.87M ▼ | $257.6M ▲ | $303.93M ▲ | $6.39M ▼ |
| Q1-2025 | $20.24M ▼ | $14.89M ▼ | $59.17M ▲ | $-137.95M ▼ | $-63.88M ▼ | $14.63M ▼ |
| Q4-2024 | $20.46M | $32.24M | $-156.52M | $233.52M | $109.24M | $29.98M |
What's strong about this company's cash flow?
The company consistently produces more cash from operations than it reports in profits, with free cash flow rising to $47 million. Capital spending is very low, and shareholder returns are easily covered by cash generation.
What are the cash flow concerns?
Cash balance fell by $161 million this quarter, and working capital changes used up a lot of cash. The company also shifted from paying down debt to raising new debt, which could signal future dependency if the trend continues.
Q4 2025 Earnings Call Summary
Read Call Summary5-Year Trend Analysis
A comprehensive look at ConnectOne Bancorp, Inc.'s financial evolution and strategic trajectory over the past five years.
ConnectOne combines strong revenue growth with a larger and stronger balance sheet, reduced leverage, and a clear strategic focus on commercial clients in attractive markets. It has built a reputation for efficiency and embraced a technology-led, branch-lite operating model, supported by assets like BoeFly and its partnership with Nymbus. Cash flows remain positive, equity has grown, and the bank has maintained a track record of returning capital to shareholders while expanding its footprint.
At the same time, profitability has weakened significantly, with rising costs and margin compression eroding the benefits of revenue and asset growth. Operating and free cash flow are trending downward, reducing financial flexibility. The balance sheet shows some unusual shifts in the latest year that warrant careful interpretation, and the bank remains exposed to the usual regional bank risks: credit quality in its commercial and real estate books, competitive pressure for deposits and loans, regulatory changes, and the impact of future interest-rate moves.
The forward picture is mixed and hinges on execution. If ConnectOne can harness its technology investments, integration of recent acquisitions, and commercial focus to stabilize margins, improve cash generation, and maintain credit quality, its financial profile could strengthen over time. If cost pressures, credit issues, or integration challenges persist, revenue growth may continue to outpace earnings improvement. The environment for regional banks remains challenging but offers opportunities for efficient, tech-enabled players that can adapt quickly.
About ConnectOne Bancorp, Inc.
https://www.connectonebank.comConnectOne 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.
Income Statement
| Period | Revenue | Operating Expense | Net Income | Net Profit Margin | Earnings Per Share | EBITDA |
|---|---|---|---|---|---|---|
| Q4-2025 | $188.81M ▼ | $53.4M ▼ | $39.52M ▼ | 20.93% ▲ | $0.76 ▼ | $53.37M ▼ |
| Q3-2025 | $207.12M ▲ | $58.67M ▼ | $40.98M ▲ | 19.78% ▲ | $1.07 ▲ | $62.29M ▲ |
| Q2-2025 | $151.22M ▲ | $73.65M ▲ | $-20.29M ▼ | -13.42% ▼ | $-0.57 ▼ | $-22.7M ▼ |
| Q1-2025 | $129.24M ▼ | $39.3M ▲ | $20.24M ▼ | 15.66% ▲ | $0.49 | $28.72M ▲ |
| Q4-2024 | $131.78M | $38.5M | $20.37M | 15.46% | $0.49 | $27.89M |
What's going well?
The company is still profitable, with a healthy 21% net margin. Costs are being managed well, as operating expenses fell in line with revenue.
What's concerning?
Revenue dropped sharply, and a big increase in share count diluted earnings per share. Interest costs remain high, eating into profits.
Balance Statement
| Period | Cash & Short-term | Total Assets | Total Liabilities | Total Equity |
|---|---|---|---|---|
| Q4-2025 | $1.34B ▲ | $14B ▼ | $12.43B ▼ | $1.57B ▲ |
| Q3-2025 | $1.18B ▼ | $14.02B ▲ | $12.49B ▲ | $1.54B ▲ |
| Q2-2025 | $1.26B ▲ | $13.92B ▲ | $12.42B ▲ | $1.5B ▲ |
| Q1-2025 | $706.12M ▲ | $9.76B ▼ | $8.51B ▼ | $1.25B ▲ |
| Q4-2024 | $360.7M | $9.88B | $8.64B | $1.24B |
What's financially strong about this company?
The company has a fortress-like cash position, very low short-term debt, and most assets are high quality and liquid. Shareholder equity is solid and the company has a long history of profitability.
What are the financial risks or weaknesses?
The sudden, massive increase in receivables and drop in current liabilities is unusual and could signal a change in business model or accounting. Debt has also crept up, and working capital is now heavily tied to receivables.
Cash Flow Statement
| Period | Net Income | Cash From Operations | Cash From Investing | Cash From Financing | Net Change | Free Cash Flow |
|---|---|---|---|---|---|---|
| Q4-2025 | $39.52M ▼ | $47.7M ▲ | $-139.98M ▲ | $-69.56M ▼ | $-161.84M ▼ | $47.11M ▲ |
| Q3-2025 | $40.98M ▲ | $37.35M ▲ | $-145.23M ▼ | $54.08M ▼ | $-53.8M ▼ | $33.89M ▲ |
| Q2-2025 | $-20.29M ▼ | $6.46M ▼ | $39.87M ▼ | $257.6M ▲ | $303.93M ▲ | $6.39M ▼ |
| Q1-2025 | $20.24M ▼ | $14.89M ▼ | $59.17M ▲ | $-137.95M ▼ | $-63.88M ▼ | $14.63M ▼ |
| Q4-2024 | $20.46M | $32.24M | $-156.52M | $233.52M | $109.24M | $29.98M |
What's strong about this company's cash flow?
The company consistently produces more cash from operations than it reports in profits, with free cash flow rising to $47 million. Capital spending is very low, and shareholder returns are easily covered by cash generation.
What are the cash flow concerns?
Cash balance fell by $161 million this quarter, and working capital changes used up a lot of cash. The company also shifted from paying down debt to raising new debt, which could signal future dependency if the trend continues.
Q4 2025 Earnings Call Summary
Read Call Summary5-Year Trend Analysis
A comprehensive look at ConnectOne Bancorp, Inc.'s financial evolution and strategic trajectory over the past five years.
ConnectOne combines strong revenue growth with a larger and stronger balance sheet, reduced leverage, and a clear strategic focus on commercial clients in attractive markets. It has built a reputation for efficiency and embraced a technology-led, branch-lite operating model, supported by assets like BoeFly and its partnership with Nymbus. Cash flows remain positive, equity has grown, and the bank has maintained a track record of returning capital to shareholders while expanding its footprint.
At the same time, profitability has weakened significantly, with rising costs and margin compression eroding the benefits of revenue and asset growth. Operating and free cash flow are trending downward, reducing financial flexibility. The balance sheet shows some unusual shifts in the latest year that warrant careful interpretation, and the bank remains exposed to the usual regional bank risks: credit quality in its commercial and real estate books, competitive pressure for deposits and loans, regulatory changes, and the impact of future interest-rate moves.
The forward picture is mixed and hinges on execution. If ConnectOne can harness its technology investments, integration of recent acquisitions, and commercial focus to stabilize margins, improve cash generation, and maintain credit quality, its financial profile could strengthen over time. If cost pressures, credit issues, or integration challenges persist, revenue growth may continue to outpace earnings improvement. The environment for regional banks remains challenging but offers opportunities for efficient, tech-enabled players that can adapt quickly.
CEO
Frank S. Sorrentino III
Compensation Summary
(Year 2023)
Upcoming Earnings
Split Record
| Date | Type | Ratio |
|---|---|---|
| 2007-04-27 | Forward | 21:20 |
| 2005-05-26 | Forward | 21:20 |
ETFs Holding This Stock
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Ratings Snapshot
Rating : B-
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