Quarterly ResultJul 23, 2026, 07:03 AM
ConnectOne Q2 EPS $0.80; Loan Growth 5%; NIM 3.42%
AI Summary
ConnectOne Bancorp reported strong second-quarter 2026 results with net income available to common stockholders of $40.2 million and diluted EPS of $0.80, significantly up from the prior year. The company achieved annualized sequential loan growth of 5% and core deposit growth of 8%, while its net interest margin expanded to 3.42%. Despite an increase in nonperforming assets due to specific New York City loans, management highlighted accelerated performance and strong capital levels. The Board also declared common and preferred dividends.
Key Highlights
- Net income available to common stockholders was $40.2 million, up from $36.3 million sequentially.
- Diluted earnings per share (EPS) increased to $0.80 from $0.72 in the prior quarter.
- Sequential loan growth was 5% annualized, and core deposit growth was 8% annualized.
- Net interest margin (NIM) widened to 3.42%, marking the 7th consecutive quarter of expansion.
- Tangible book value per share increased to $24.66 as of June 30, 2026.
- Nonperforming assets rose to $79.7 million, or 0.55% of total assets, due to NYC multi-family loans.
- A common stock dividend of $0.195 per share and a preferred dividend of $0.328125 per share were declared.
- The company repurchased 90,000 shares of common stock in the first half of 2026.
Price Impact
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