ConnectOne Bancorp, Inc. (CNOB) Income Statement Analysis

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Complete financial analysis of ConnectOne Bancorp, Inc. (CNOB) income statement, including revenue, profit margins, EPS and key performance metrics. Get detailed insights into the financial performance of ConnectOne Bancorp, Inc., a leading company in the Banks – Regional industry within the Financial Services sector.

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ConnectOne Bancorp, Inc. (CNOB)

Industry: Banks - Regional

Sector: Financial Services

Website: https://www.connectonebank.com

About ConnectOne Bancorp, Inc.

ConnectOne 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.

Metric	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011	2010	2009	2008	2007	2006	2005	2004	2003	2002	2001	2000	1999	1998	1997	1996	1995
Revenue	269.11M	315.36M	277.90M	252.39M	194.35M	162.95M	153.27M	140.07M	126.10M	86.90M	53.04M	49.81M	47.57M	36.40M	36.61M	28.44M	25.87M	24.98M	31.04M	29.47M	26.44M	29.28M	24.85M	21.11M	20.38M	18.10M	17.30M	15.50M	13.70M
Cost of Revenue	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Gross Profit	269.11M	315.36M	277.90M	252.39M	194.35M	162.95M	153.27M	140.07M	126.10M	86.90M	53.04M	49.81M	47.57M	36.40M	36.61M	28.44M	25.87M	24.98M	31.04M	29.47M	26.44M	29.28M	24.85M	21.11M	20.38M	18.10M	17.30M	15.50M	13.70M
Gross Profit Ratio	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%
Research & Development	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
General & Administrative	96.69M	83.60M	73.00M	68.77M	55.65M	47.12M	43.16M	38.21M	33.50M	23.02M	16.32M	15.49M	14.92M	16.29M	14.08M	8.51M	11.44M	12.29M	12.11M	10.14M	10.43M	9.45M	7.81M	6.80M	6.77M	6.00M	5.50M	5.20M	4.30M
Selling & Marketing	1.97M	1.69M	1.32M	1.20M	1.35M	980.00K	996.00K	1.04M	847.00K	498.00K	304.00K	186.00K	131.00K	268.00K	366.00K	637.00K	603.00K	731.00K	644.00K	529.00K	533.00K	576.00K	487.00K	490.00K	504.00K	400.00K	300.00K	400.00K	0.00
SG&A	98.66M	85.29M	74.32M	69.97M	57.00M	48.10M	44.15M	39.25M	34.35M	23.52M	16.62M	15.68M	15.05M	16.56M	14.45M	9.14M	12.04M	13.02M	12.75M	10.67M	10.96M	10.03M	8.29M	7.29M	7.28M	6.40M	5.80M	5.60M	4.30M
Other Expenses	170.45M	-33.72M	-177.16M	-231.97M	-157.33M	-80.97M	-35.47M	-18.91M	0.00	0.00	0.00	0.00	342.00K	0.00	4.24M	-30.18M	-36.99M	-37.44M	-34.97M	0.00	-29.82M	-27.59M	-24.17M	-21.00M	-20.67M	-18.20M	-16.40M	-15.30M	-12.50M
Operating Expenses	269.11M	1.69M	-102.84M	-162.00M	-100.33M	-32.90M	35.47M	18.91M	52.26M	54.80M	25.28M	24.30M	15.39M	268.00K	18.69M	-21.03M	-24.95M	-24.42M	-22.21M	529.00K	-18.86M	-17.56M	-15.87M	-13.71M	-13.40M	-11.80M	-10.60M	-9.70M	-8.20M
Cost & Expenses	269.11M	1.69M	-102.84M	-162.00M	-100.33M	-32.90M	121.01M	128.30M	52.26M	54.80M	25.28M	24.30M	15.39M	268.00K	18.69M	-21.03M	-24.95M	-24.42M	-22.21M	529.00K	-18.86M	-17.56M	-15.87M	-13.71M	-13.40M	-11.80M	-10.60M	-9.70M	-8.20M
Interest Income	486.40M	372.09M	300.77M	306.56M	269.71M	214.12M	179.90M	159.83M	139.89M	93.57M	56.75M	54.71M	51.30M	48.15M	50.47M	49.89M	52.13M	53.33M	50.50M	40.05M	35.92M	40.47M	38.37M	35.66M	32.09M	30.70M	30.70M	26.40M	21.80M
Interest Expense	234.96M	71.63M	38.86M	70.21M	85.17M	58.92M	36.26M	31.10M	23.81M	14.81M	11.08M	11.78M	12.18M	14.79M	22.65M	24.10M	30.63M	28.97M	23.30M	13.97M	12.73M	14.52M	16.01M	16.18M	12.80M	13.60M	14.50M	11.60M	8.80M
Depreciation & Amortization	5.94M	5.55M	5.74M	6.80M	4.46M	3.69M	3.88M	3.52M	917.00K	506.00K	886.00K	914.00K	983.00K	1.17M	1.45M	1.83M	1.86M	2.06M	2.28M	2.24M	7.47M	3.48M	1.98M	1.58M	1.47M	1.60M	1.70M	1.10M	700.00K
EBITDA	122.90M	176.77M	180.80M	97.19M	98.49M	74.82M	72.39M	46.38M	64.46M	0.00	28.30M	27.41M	22.32M	8.39M	7.50M	0.00	0.00	2.30M	10.66M	9.25M	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
EBITDA Ratio	45.67%	77.54%	63.71%	36.83%	49.10%	82.03%	45.17%	31.18%	49.29%	32.13%	53.35%	52.40%	46.92%	23.05%	20.50%	32.49%	10.76%	10.53%	35.79%	38.96%	56.91%	51.91%	44.09%	42.53%	41.48%	43.65%	48.55%	44.52%	45.26%
Operating Income	116.96M	242.85M	175.06M	90.39M	94.03M	130.05M	68.51M	42.86M	61.24M	27.41M	27.41M	25.18M	21.34M	7.23M	6.05M	7.41M	923.00K	569.00K	8.83M	9.25M	7.58M	11.72M	8.98M	7.40M	6.98M	6.30M	6.70M	5.80M	5.50M
Operating Income Ratio	43.46%	77.01%	62.99%	35.81%	48.38%	79.81%	44.70%	30.60%	48.56%	31.54%	51.68%	50.56%	44.85%	19.85%	16.53%	26.05%	3.57%	2.28%	28.44%	31.38%	28.68%	40.04%	36.13%	35.04%	34.26%	34.81%	38.73%	37.42%	40.15%
Total Other Income/Expenses	0.00	-14.95M	-12.43M	-33.77M	-22.02M	-13.59M	0.00	0.00	-9.49M	-25.93M	-5.46M	-1.75M	-342.00K	-1.17M	-1.45M	-1.76M	-1.74M	0.00	0.00	-19.69M	7.58M	11.72M	8.98M	7.40M	6.98M	6.30M	6.70M	5.80M	5.50M
Income Before Tax	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	6.05M	7.41M	923.00K	569.00K	8.83M	9.25M	7.58M	11.72M	8.98M	7.40M	6.98M	6.30M	6.70M	5.80M	5.50M
Income Before Tax Ratio	43.46%	54.29%	62.99%	35.81%	48.38%	43.65%	44.70%	30.60%	48.56%	31.54%	51.68%	50.56%	44.85%	19.85%	16.53%	26.05%	3.57%	2.28%	28.44%	31.38%	28.68%	40.04%	36.13%	35.04%	34.26%	34.81%	38.73%	37.42%	40.15%
Income Tax Expense	29.96M	46.01M	44.71M	19.10M	20.63M	10.78M	25.29M	11.78M	19.93M	8.85M	7.48M	7.68M	7.41M	222.00K	1.48M	1.57M	-2.93M	-3.33M	1.18M	1.62M	1.16M	3.72M	2.97M	2.39M	2.35M	2.10M	2.20M	1.60M	1.50M
Net Income	87.00M	125.21M	130.35M	71.29M	73.40M	60.35M	43.22M	31.08M	41.31M	18.57M	19.93M	17.51M	13.93M	7.00M	4.57M	5.84M	3.86M	3.90M	7.65M	7.62M	6.42M	8.00M	6.01M	5.01M	4.63M	4.20M	4.50M	4.20M	4.00M
Net Income Ratio	32.33%	39.70%	46.91%	28.25%	37.76%	37.04%	28.20%	22.19%	32.76%	21.36%	37.57%	35.15%	29.27%	19.24%	12.49%	20.54%	14.90%	15.60%	24.63%	25.86%	24.28%	27.33%	24.19%	23.71%	22.71%	23.20%	26.01%	27.10%	29.20%
EPS	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	0.24	0.45	0.28	0.27	0.60	0.72	0.62	0.82	0.60	0.52	0.48	0.42	0.12	0.44	0.43
EPS Diluted	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	0.24	0.45	0.28	0.27	0.60	0.71	0.61	0.82	0.59	0.52	0.48	0.41	0.12	0.44	0.43
Weighted Avg Shares Out	38.93M	39.26M	39.63M	39.51M	35.21M	32.12M	31.90M	30.40M	29.94M	23.03M	16.35M	16.34M	16.30M	15.03M	13.38M	13.05M	13.78M	14.66M	12.68M	10.67M	10.30M	9.72M	10.06M	9.63M	9.64M	10.03M	38.16M	9.42M	9.36M
Weighted Avg Shares Out (Dil)	38.96M	39.48M	39.89M	39.64M	35.29M	32.36M	32.24M	30.69M	30.28M	23.48M	16.39M	16.35M	16.31M	15.03M	13.39M	13.06M	13.84M	14.74M	12.73M	10.74M	10.41M	9.79M	10.14M	9.69M	9.70M	10.12M	38.44M	9.42M	9.36M

ConnectOne Bancorp (CNOB) Q2 Earnings and Revenues Top Estimates

July 28, 2022zacks.com

ConnectOne (CNOB) delivered earnings and revenue surprises of 2.63% and 4.16%, respectively, for the quarter ended June 2022. Do the numbers hold clues to what lies ahead for the stock?

ConnectOne Bancorp, Inc. to Host 2022 Second Quarter Results Conference Call on July 28, 2022

July 14, 2022globenewswire.com

ENGLEWOOD CLIFFS, N.J., July 14, 2022 (GLOBE NEWSWIRE) -- ConnectOne Bancorp, Inc. (Nasdaq: CNOB) (the “Company” or “ConnectOne”), parent company of ConnectOne Bank (the “Bank”), today announced that it plans to release results for the second quarter ended June 30,...

ConnectOne's Sorrentino: Blockchain Unlocks New Value for Bank Customers

June 29, 2022pymnts.com

While more consumers are either trading or using cryptocurrencies, blockchain payments remain in a nascent stage as a replacement for fiat currencies. Some merchants may be hesitant to deal directly in blockchain payments due to volatility in the value of...

After Plunging 13% in 4 Weeks, Here's Why the Trend Might Reverse for ConnectOne (CNOB)

May 3, 2022zacks.com

ConnectOne (CNOB) has become technically an oversold stock now, which implies exhaustion of the heavy selling pressure on it. This, combined with strong agreement among Wall Street analysts in revising earnings estimates higher, indicates a potential trend reversal for the...

ConnectOne Bancorp, Inc. (CNOB) CEO Frank Sorrentino on Q1 2022 Results - Earnings Call Transcript

April 28, 2022seekingalpha.com

ConnectOne Bancorp, Inc. (NASDAQ:CNOB ) Q1 2022 Earnings Conference Call April 28, 2022 10:00 AM ET Company Participants Frank Sorrentino - Chairman and Chief Executive Officer Bill Burns - Executive Vice President and Chief Financial Officer Siya Vansia - Vice...