secwatch.observer — SEC 8-K summary
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Issuer:     ConnectOne Bancorp, Inc. (CNOB)
CIK:        0000712771
Form:       8-K
Filed at:   2024-09-05T23:59:59+00:00
Accession:  0001437749-24-028482
Event type: m_and_a
Sentiment:  positive
Materiality: 0.85
Item codes: 1.01, 7.01, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

ConnectOne Bancorp to acquire First of Long Island for ~$284M in stock merger
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- FLIC shareholders receive 0.5175 CNOB shares per FLIC share; aggregate value ~$284M (~$12.40/FLIC share).
- Combined entity will have ~$14B assets, $11B deposits, $11B loans; creates top-5 Long Island bank.
- Transaction expected ~36% accretive to 2025 EPS; tangible book value dilution of 12% with ~2.9-year earnback.
- FLIC CEO Chris Becker to become Vice Chair of ConnectOne; two FLIC directors join board.
- Close expected mid-2025; subject to shareholder and regulatory approvals; CNOB plans $100M sub-debt raise.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/712771/000143774924028482/0001437749-24-028482-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/712771/000143774924028482/cnob20240904c_8k.htm
  HTML page:      https://secwatch.observer/filing/0001437749-24-028482

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer