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what it is
ConnectOne is a New Jersey bank with 489 employees, making loans, taking deposits, and selling planning services.
how it gets paid
Last year Connectone Bancorp made $645M in revenue.
why it's growing
2025 results are dominated by the First of Long Island merger (closed June 2025): the balance sheet and net interest income are much larger than pre-merger 2024—treat headline “revenue growth” as merger-driven, not organic acceleration.
what just happened
Q4 2025 revenue was about $192M with diluted EPS of $0.75 (ahead of consensus), on a fully merged bank.
At a glance
B balance sheet — gets the job done, barely
60/100 earnings predictability — reasonably predictable
21.8x trailing p/e — priced about right
2.8% dividend yield — cash in your pocket every quarter
$1.76 FY2024 EPS (pre-merger baseline)
xvary composite: 54/100 — below average
What they do
ConnectOne is a New Jersey bank with 489 employees, making loans, taking deposits, and selling planning services.
ConnectOne has $14.02B in assets and 489 employees. That is not giant-bank muscle, but it is enough scale to keep your cash, loans, and planning under one roof. It also adds brokerage, insurance, annuities, mutual funds, and planning through Center Financial Group.
How they make money
$645M
annual revenue · 2025 vs 2024 is not a clean compare because of the FLIC merger (June 2025)
total revenue
$645M
merger skew
The products that matter
business lending
Commercial & Industrial Loans
inside a $645M revenue bank
Segment revenue is not broken out on this page. What you do know is this lending sits inside a $645M revenue bank funded by $7.4B of deposits, so loan growth only matters if funding stays disciplined.
core book
property lending
Commercial Real Estate Loans
tied to a ~$14B asset base
This book sits on the same ~$14B post-merger balance sheet called out in the KPI strip. If property conditions in New Jersey or New York weaken, you feel it quickly because the franchise is concentrated where it lends.
credit risk
deposits and retail banking
Consumer & Residential Banking
$7.4B deposit base
The deposit base is $7.4B. That's the funding engine. In human-speak: if deposits get more expensive or leave, the rest of the bank earns less even if loan balances look fine.
funding engine
Key numbers
$645M
annual revenue
That is the sales base behind a $1B market cap. You are paying about 1.6x revenue.
$14.02B
asset base
Assets tell you the bank's lending room. A $14.02B balance sheet is bigger than the stock's $1B label.
2.8%
dividend yield
This is your wait-a-minute payment. It pays you 2.8% a year while you watch the bank.
$108M
long-term debt
Debt is 8% of capital. That is enough to matter and not enough to panic.
Financial health
B
strength
- balance sheet grade B — adequate — nothing special
- risk rank 3 — safer than 50% of stocks
- price stability 50 / 100
- long-term debt $108M (8% of capital)
B — functional but not a standout on the balance sheet.
Total return vs. market
Return history isn't available for CNOB right now.
source: institutional data · return history unavailable
What just happened
beat estimates
Q4 2025 revenue was about $192M with diluted EPS of $0.75, beating the consensus estimate.
Versus Q4 2024, EPS was up sharply on a larger post-merger earnings base; use net interest margin and credit quality—not one vs. prior year revenue percent—as the real read.
$192M
revenue (Q4)
$0.75
eps (Q4 · diluted)
3.27%
NIM (Q4)
quarterly revenue
The ~$192M Q4 revenue line mattered most—paired with NIM expansion—as proof the merged bank is earning on the new scale.
source: company earnings report, 2025
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What could go wrong
the #1 risk is integrating First of Long Island without weakening net interest income or credit quality.
med
acquisition integration
CNOB is absorbing a $280M acquisition against a roughly $1B market cap. That's a large bite for a small bank, and the cost saves only matter if customers, lenders, and employees stay put.
If integration drags, the bank risks pressure on the $1.76 EPS baseline investors are paying 21.8x for.
med
regional concentration
The franchise is concentrated in New Jersey and New York. Nearly all of the $9.9B asset base sits in the same regional economy, so local credit stress does not stay isolated for long.
If property markets or business lending conditions weaken in that footprint, the loan book and deposit base feel it together.
med
funding pressure
The bank runs on $7.4B of deposits. That's the fuel source. If deposit pricing rises or balances move, the spread business gets squeezed even before credit losses show up.
A weaker funding mix would hit the $161.2M net interest income line that matters most to the thesis.
med
leadership churn during integration
The company announced executive changes in December 2025, including a new general counsel. One leadership move is manageable. Several moves during a merger are less comfortable.
Execution risk rises when a bank is changing people and systems at the same time.
A $280M deal, a $7.4B deposit base, and a $161.2M net interest income line tell the whole risk picture: if the merger weakens funding or earnings, the margin for error is thin at 21.8x earnings.
source: institutional data · regulatory filings · risk analysis
Pay attention to
deal
First of Long Island closing and integration
This is the main event. A $280M transaction for a roughly $1B bank is large enough to rewrite the whole earnings story.
earnings
Net interest income
The last reported figure was $161.2M. If that line slips after the merger, the stock's premium multiple gets harder to defend.
calendar
Next earnings release
You want the first cleaner read on deposit costs, lending spreads, and how much of the merger story is turning into actual numbers.
execution
Management stability
More executive turnover would not break the thesis on its own, but it would make an already delicate integration story less believable.
Analyst rankings
earnings predictability
60 / 100
in human-speak: the earnings line is serviceable, but you should expect more noise here than you would from a top-tier bank.
risk rank
3
That puts CNOB around the middle on risk. Not a bunker stock. Not a screaming hazard sign either.
source: institutional data
Institutional activity
institutional ownership data for CNOB is being compiled.
source: institutional data
Price targets
3-5 year target range
n/a
n/a
$27
current price
n/a
target midpoint · n/a from current
Want the deeper analysis?
The full deep dive: dcf model, scenario analysis, competitive moat breakdown, and quarterly tracking — everything on this page, taken further.
see plans from $5/moThe deep dive