ConnectOne Bancorp, Inc 8-K, filed Oct 22, 2026

ConnectOne Bancorp, Inc. (CNOB)

8-K 2026-10-22 For: 2026-10-22

Added on October 22, 2026

About this 8-K

ConnectOne Bancorp, Inc filed this 8-K on October 22, 2026.

ConnectOne Bancorp, Inc. reported third-quarter 2026 net income available to common stockholders of $29.9 million, including a $23.0 million pretax restructuring charge. It agreed to sell up to approximately $750 million of non-relationship multifamily loans; net interest margin was 3.44%. AI summary

Items reported

Item 2.02: Financial results
Item 9.01: Financial statements and exhibits

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New Jersey	001-40751	52-1273725
(State or Other Jurisdiction of Incorporation)	(Commission File Number)	(I.R.S. Employer Identification No.)

☐	Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐	Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐	Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐	Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Title of each class	Trading Symbol(s)	Name of each exchange on which registered
Common stock	CNOB	NASDAQ
Depositary Shares (each representing a 1/40th interest in a share of 5.25% Series A Non-Cumulative, perpetual preferred stock)	CNOBP	NASDAQ

99.1		Press Release dated October 22, 2026
104		Cover Page Interactive Data File (embedded within the Inline XBRL document)

	ConnectOne Bancorp, Inc.


Date: October 22, 2026	By:	/s/ William S. Burns
		William S. Burns
		Senior Executive Vice President and Chief Financial Officer

	September 30,			December 31,			September 30,
	2026			2025			2025
	(unaudited)						(unaudited)
ASSETS
Cash and due from banks	$	50,643		$	92,406		$	96,990
Interest-bearing deposits with banks		262,705			288,489			445,744
Cash and cash equivalents		313,348			380,895			542,734

Investment securities		1,323,789			1,250,938			1,252,202
Equity securities		21,947			19,287			20,133

Loans held-for-sale		678,880			391			—

Loans receivable		11,432,533			11,453,280			11,303,636
Less: Allowance for credit losses - loans		120,620			154,305			156,499
Net loans receivable		11,311,913			11,298,975			11,147,137

Investment in restricted stock, at cost		62,661			54,722			51,516
Bank premises and equipment, net		48,351			55,285			55,888
Accrued interest receivable		66,657			60,761			60,630
Bank owned life insurance		378,361			370,713			367,767
Right of use operating lease assets		30,228			29,603			29,283
Goodwill		220,235			220,235			215,611
Core deposit intangibles		51,387			59,923			63,119
Other assets		270,948			200,972			217,565
Total assets	$	14,778,705		$	14,002,700		$	14,023,585

LIABILITIES
Deposits:
Noninterest-bearing	$	2,479,625		$	2,420,397		$	2,513,102
Interest-bearing		9,298,717			8,820,218			8,856,193
Total deposits		11,778,342			11,240,615			11,369,295
Borrowings		1,072,398			903,489			833,443
Subordinated debentures, net		202,423			201,864			201,677
Operating lease liabilities		32,807			32,446			33,185
Other liabilities		94,135			50,946			47,641
Total liabilities		13,180,105			12,429,360			12,485,241

COMMITMENTS AND CONTINGENCIES

STOCKHOLDERS' EQUITY
Preferred stock		110,927			110,927			110,927
Common stock		857,765			857,765			857,765
Additional paid-in capital		41,329			38,763			37,934
Retained earnings		751,575			673,897			644,944
Treasury stock		(80,138	)		(76,116	)		(76,116	)
Accumulated other comprehensive loss		(82,858	)		(31,896	)		(37,110	)
Total stockholders' equity		1,598,600			1,573,340			1,538,344
Total liabilities and stockholders' equity	$	14,778,705		$	14,002,700		$	14,023,585

	Three Months Ended					Nine Months Ended
	09/30/26			09/30/25		09/30/26			09/30/25
Interest income
Interest and fees on loans	$	182,428		$	165,937	$	526,976		$	413,604
Interest and dividends on investment securities:
Taxable		12,580			12,033		34,361			24,457
Tax-exempt		1,858			2,014		5,743			4,530
Dividends		843			1,081		2,725			2,758
Interest on federal funds sold and other short-term investments		2,432			6,644		7,640			13,179
Total interest income		200,141			187,709		577,445			458,528
Interest expense
Deposits		72,102			75,209		207,355			189,440
Borrowings		10,741			10,483		30,349			22,432
Total interest expense		82,843			85,692		237,704			211,872

Net interest income		117,298			102,017		339,741			246,656
Provision for credit losses		5,000			5,500		18,500			44,700
Net interest income after provision for credit losses		112,298			96,517		321,241			201,956

Noninterest income
Deposit, loan and other income		3,347			3,836		9,954			8,412
Defined benefit pension plan curtailment gain		—			3,501		—			3,501
Employee retention tax credit		—			6,608		—			6,608
Income on bank owned life insurance		4,136			2,931		10,104			6,602
Gains on sale of loans held-for-sale		1,203			859		3,220			1,372
(Loss) on sale of loans held-for-sale-CRE restructuring		(23,025	)		—		(23,025	)		—
(Losses) gains on equity securities		(159	)		1,674		(28	)		2,550
Total noninterest income		(14,498	)		19,409		225			29,045

Noninterest expenses
Salaries and employee benefits		32,922			32,401		97,227			80,212
Occupancy and equipment		4,968			5,122		15,832			11,280
FDIC insurance		1,500			2,400		5,200			6,200
Professional and consulting		3,278			2,929		9,513			7,893
Marketing and advertising		951			771		3,038			2,206
Information technology and communications		5,277			5,243		15,914			14,639
Restructuring and exit charges		—			994		—			994
Merger expenses and restructuring charges		—			1,898		2,233			33,963
Bank owned life insurance restructuring charge		—			—		—			327
Amortization of core deposit intangibles		2,846			3,196		8,536			4,726
Other expenses		3,627			3,719		11,161			9,187
Total noninterest expenses		55,369			58,673		168,654			171,627

Income before income tax expense		42,431			57,253		152,812			59,374
Income tax expense		11,032			16,277		41,923			18,449
Net income		31,399			40,976		110,889			40,925
Preferred dividends		1,509			1,509		4,527			4,527
Net income available to common stockholders	$	29,890		$	39,467	$	106,362		$	36,398

Earnings per common share:
Basic	$	0.59		$	0.79	$	2.12		$	0.83
Diluted		0.59			0.78		2.10			0.83

	As of
	Sept. 30,			Jun. 30,			Mar. 31,			Dec. 31,			Sept. 30,
	2026			2026			2026			2025			2025
Selected Financial Data	(dollars in thousands)
Total assets	$	14,778,705		$	14,411,864		$	14,209,561		$	14,002,700		$	14,023,585
Loans receivable:
Commercial	$	1,650,434		$	1,598,678		$	1,638,836		$	1,558,436		$	1,613,421
Commercial real estate		4,930,142			4,871,086			4,750,508			4,625,143			4,310,159
Multifamily		3,057,962			3,679,302			3,574,336			3,437,080			3,420,465
Commercial construction		585,707			528,103			571,073			623,902			728,615
Residential		1,207,092			1,192,033			1,202,539			1,210,980			1,233,305
Consumer		4,306			3,313			1,801			2,017			2,166
Gross loans		11,435,643			11,872,515			11,739,093			11,457,558			11,308,131
Net deferred loan fees		(3,110	)		(3,481	)		(3,497	)		(4,278	)		(4,495	)
Loans receivable		11,432,533			11,869,034			11,735,596			11,453,280			11,303,636
Loans held-for-sale		678,880			—			10,222			391			—
Total loans	$	12,111,413		$	11,869,034		$	11,745,818		$	11,453,671		$	11,303,636

Investment and equity securities	$	1,345,736		$	1,199,051		$	1,215,806		$	1,270,225		$	1,272,335
Goodwill and other intangible assets		271,622			274,468			277,313			280,158			278,730
Deposits:
Noninterest-bearing demand	$	2,479,625		$	2,512,964		$	2,393,938		$	2,420,397		$	2,513,102
Time deposits		3,119,593			2,927,930			3,010,971			2,796,877			2,977,952
Other interest-bearing deposits		6,179,124			6,299,469			6,108,144			6,023,341			5,878,241
Total deposits	$	11,778,342		$	11,740,363		$	11,513,053		$	11,240,615		$	11,369,295

Borrowings	$	1,072,398		$	715,416		$	827,477		$	903,489		$	833,443
Subordinated debentures (net of debt issuance costs)		202,423			202,236			202,050			201,864			201,677
Total stockholders' equity		1,598,600			1,626,525			1,591,547			1,573,340			1,538,344

Quarterly Average Balances
Total assets	$	14,534,596		$	14,254,280		$	13,999,581		$	13,963,138		$	14,050,585
Loans receivable:
Commercial	$	1,623,410		$	1,652,412		$	1,579,368		$	1,597,123		$	1,583,673
Commercial real estate (including multifamily)		8,600,502			8,433,558			8,137,515			7,822,943			7,630,195
Commercial construction		544,828			524,023			613,661			646,414			704,170
Residential		1,199,565			1,198,244			1,204,082			1,221,171			1,241,375
Consumer		10,242			10,855			6,851			5,473			6,747
Gross loans		11,978,547			11,819,092			11,541,477			11,293,124			11,166,160
Net deferred loan fees		(3,287	)		(3,331	)		(4,042	)		(4,708	)		(4,418	)
Loans receivable		11,975,260			11,815,761			11,537,435			11,288,416			11,161,742
Loans held-for-sale		7,623			107			335			230			318
Total loans	$	11,982,883		$	11,815,868		$	11,537,770		$	11,288,646		$	11,162,060

Investment and equity securities	$	1,307,476		$	1,208,532		$	1,256,147		$	1,269,275		$	1,274,000
Goodwill and other intangible assets		273,499			276,313			279,158			279,165			280,814
Deposits:
Noninterest-bearing demand	$	2,510,843		$	2,424,773		$	2,384,883		$	2,473,596		$	2,486,993
Time deposits		2,920,335			2,992,440			2,901,327			2,946,459			3,019,848
Other interest-bearing deposits		6,252,427			6,122,264			5,996,487			5,907,547			5,889,230
Total deposits	$	11,683,605		$	11,539,477		$	11,282,697		$	11,327,602		$	11,396,071

Borrowings	$	874,544		$	812,384		$	833,551		$	781,388		$	783,994
Subordinated debentures (net of debt issuance costs)		202,300			202,114			201,928			201,741			263,511
Total stockholders' equity		1,636,171			1,612,528			1,594,699			1,558,366			1,513,892

⁽⁴⁾	Operating net income available to common stockholders divided by average common equity.
⁽⁵⁾	Net income available to common stockholders, excluding amortization of intangible assets, divided by average tangible common equity.
⁽⁶⁾	Operating net income available to common stockholders, divided by average tangible common equity.
⁽⁷⁾	Operating noninterest expense divided by operating revenue.

⁽⁸⁾	Tangible common equity divided by tangible assets.
⁽⁹⁾	Tangible common equity divided by common shares outstanding at period-end.

CONNECTONE BANCORP, INC.
NET INTEREST MARGIN ANALYSIS
(dollars in thousands)

	For the Three Months Ended
	September 30, 2026									June 30, 2026									September 30, 2025
	Average									Average									Average
Interest-earning assets:	Balance			Interest			Rate⁽⁷⁾			Balance			Interest			Rate ⁽⁷⁾			Balance			Interest			Rate ⁽⁷⁾
Investment securities ^{(1) (2)}	$	1,387,589		$	14,931			4.27	%	$	1,275,125		$	13,397			4.21	%	$	1,355,775		$	14,581			4.27	%
Loans receivable and loans held-for-sale ^{(2) (3) (4)}		11,982,883			183,178			6.06			11,815,868			176,944			6.01			11,162,060			166,541			5.92
Federal funds sold and interest-
bearing deposits with banks		262,118			2,432			3.68			309,872			2,821			3.65			605,344			6,644			4.35
Restricted investment in bank stock		53,371			843			6.27			50,939			947			7.46			49,264			1,081			8.71
Total interest-earning assets		13,685,961			201,384			5.84			13,451,804			194,109			5.79			13,172,443			188,847			5.69
Allowance for loan losses		(142,006	)								(155,399	)								(159,157	)
Noninterest-earning assets		990,641									957,875									1,037,299
Total assets	$	14,534,596								$	14,254,280								$	14,050,585

Interest-bearing liabilities:
Money market deposits		3,065,588			22,998			2.98			3,052,487			22,148			2.91			3,041,528			24,578			3.21
Savings deposits		942,742			6,234			2.62			978,961			6,339			2.60			949,775			7,198			3.01
Time deposits		2,920,335			27,603			3.75			2,992,440			27,776			3.72			3,019,848			30,072			3.95
Other interest-bearing deposits		2,244,097			15,267			2.70			2,090,816			13,308			2.55			1,897,927			13,361			2.79
Total interest-bearing deposits		9,172,762			72,102			3.12			9,114,704			69,571			3.06			8,909,078			75,209			3.35

Borrowings		874,544			6,393			2.90			812,384			5,402			2.67			783,994			4,550			2.30
Subordinated debentures		202,300			4,337			8.51			202,114			4,283			8.50			263,511			5,917			8.91
Finance lease		769			11			5.68			845			12			5.70			1,068			16			5.94
Total interest-bearing liabilities		10,250,375			82,843			3.21			10,130,047			79,268			3.14			9,957,651			85,692			3.41

Noninterest-bearing demand deposits		2,510,843									2,424,773									2,486,993
Other liabilities		137,207									86,932									92,049
Total noninterest-bearing liabilities		2,648,050									2,511,705									2,579,042
Stockholders' equity		1,636,171									1,612,528									1,513,892
Total liabilities and stockholders' equity	$	14,534,596								$	14,254,280								$	14,050,585

Net interest income (tax equivalent basis)					118,541									114,841									103,155
Net interest spread ⁽⁵⁾								2.63	%								2.65	%								2.28	%

Net interest margin⁽⁶⁾								3.44	%								3.42	%								3.11	%

Tax equivalent adjustment					(1,243	)								(1,202	)								(1,138	)
Net interest income				$	117,298								$	113,639								$	102,017

⁽¹⁾	Average balances are calculated on amortized cost.
⁽²⁾	Interest income is presented on a tax equivalent basis using 21% federal tax rate.
⁽³⁾	Includes loan fee income.
⁽⁴⁾	Loans include nonaccrual loans.
⁽⁵⁾	Represents difference between the average yield on interest-earning assets and the average cost of interest-bearing liabilities and is presented on a tax equivalent basis.
⁽⁶⁾	Represents net interest income on a tax equivalent basis divided by average total interest-earning assets.
⁽⁷⁾	Rates are annualized.

	As of
	Sept. 30,			Jun. 30,			Mar. 31,			Dec. 31,			Sept. 30,
	2026			2026			2026			2025			2025
Capital Ratios and Book Value per Share	(dollars in thousands, except for per share data)
Stockholders equity	$	1,598,600		$	1,626,525		$	1,591,547		$	1,573,340		$	1,538,344
Less: preferred stock		(110,927	)		(110,927	)		(110,927	)		(110,927	)		(110,927	)
Common equity	$	1,487,673		$	1,515,598		$	1,480,620		$	1,462,413		$	1,427,417
Less: intangible assets		(271,622	)		(274,468	)		(277,313	)		(280,158	)		(278,730	)
Tangible common equity	$	1,216,051		$	1,241,130		$	1,203,307		$	1,182,255		$	1,148,687

Total assets	$	14,778,705		$	14,411,864		$	14,209,561		$	14,002,700		$	14,023,585
Less: intangible assets		(271,622	)		(274,468	)		(277,313	)		(280,158	)		(278,730	)
Tangible assets	$	14,507,083		$	14,137,396		$	13,932,248		$	13,722,542		$	13,744,855

Common shares outstanding		50,268,879			50,319,832			50,288,494			50,271,854			50,273,089

Common equity ratio (GAAP)		10.07	%		10.52	%		10.42	%		10.44	%		10.18	%
Tangible common equity ratio (non-GAAP) ⁽⁸⁾		8.38			8.78			8.64			8.62			8.36

Regulatory capital ratios (Bancorp):
Leverage ratio		9.80	%		9.85	%		9.79	%		9.61	%		9.35	%
Common equity Tier 1 risk-based ratio		10.10			10.28			10.23			10.24			10.17
Risk-based Tier 1 capital ratio		11.01			11.22			11.19			11.22			11.17
Risk-based total capital ratio		13.44			13.71			13.81			13.88			13.88

Regulatory capital ratios (Bank):
Leverage ratio		10.78	%		10.81	%		10.81	%		10.59	%		10.35	%
Common equity Tier 1 risk-based ratio		12.11			12.31			12.35			12.36			12.37
Risk-based Tier 1 capital ratio		12.11			12.31			12.35			12.36			12.37
Risk-based total capital ratio		12.99			13.20			13.33			13.33			13.38

Book value per share (GAAP)	$	29.59		$	30.12		$	29.44		$	29.09		$	28.39
Tangible book value per share (non-GAAP) ⁽⁹⁾		24.19			24.66			23.93			23.52			22.85

Net Loan Charge-offs (Recoveries) (10):
Charge-offs	$	3,179		$	17,022		$	2,758		$	5,613		$	5,174
Recoveries		(941	)		(531	)		(467	)		(836	)		(38	)
Net loan charge-offs	$	2,238		$	16,491		$	2,291		$	4,777		$	5,136
Net loan charge-offs as a % of average loans receivable (annualized)		0.07	%		0.56	%		0.08	%		0.17	%		0.18	%