earnings
confidence high
sentiment negative
materiality 0.85
ConnectOne reports Q2 net loss of $(21.8)M on $30.7M merger costs and $27.4M credit provision
ConnectOne Bancorp, Inc.
2025-Q2 EPS reported
-$0.08
- Net loss available to common: $(21.8)M (diluted EPS $(0.52)); operating net income $23.1M (EPS $0.55).
- Merger with The First of Long Island closed June 1; company now $13.9B assets, 61 locations.
- Dividend declared: $0.18/share common (payable Sept 2, record Aug 15); preferred dividend $0.328125/depositary share.
- Nonperforming assets fell to $39.2M (0.28% of assets); ACL ratio rose to 1.40% vs 1.00% at Dec 31.
- Net interest margin widened to 3.06% (2.93% in Q1); deposit costs down 11 bps.