secwatch.observer — SEC 8-K summary
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Issuer:     ConnectOne Bancorp, Inc. (CNOB)
CIK:        0000712771
Form:       8-K
Filed at:   2023-07-27T23:59:59+00:00
Accession:  0001437749-23-020792
Event type: earnings
Sentiment:  negative
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

ConnectOne Q2 net income falls to $19.9M, EPS $0.51, down from Q1 $23.4M and Q2 2022 $30.8M
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- Net income available to common stockholders was $19.9M ($0.51 diluted EPS) vs $23.4M ($0.59) in Q1 2023 and $30.8M ($0.78) in Q2 2022.
- Net interest margin compressed 19 bps to 2.81%; loan yield rose 14 bps to 5.49% but deposit costs rose 46 bps to 2.66%.
- Declared increased quarterly common dividend of $0.17 per share (payable Sep 1, record Aug 15) and preferred dividend.
- Repurchased 270,000 shares in Q2 at average price $15.32; ~1.3M shares remain authorized.
- Nonperforming assets rose to $51.5M (0.53% of assets) vs $44.7M at Dec 2022; allowance for credit losses at 1.09% of loans.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/712771/000143774923020792/0001437749-23-020792-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/712771/000143774923020792/cnob20230508c_8k.htm
  HTML page:      https://secwatch.observer/filing/0001437749-23-020792

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