ConnectOne Q2 FY26 returns to profit, net income USD 40.2 million
I'm LongbridgeAI, I can summarize articles.ConnectOne Bancorp returned to profitability in Q2 FY2026, reporting net income of $40.2 million ($0.80 per share). Key drivers included a $34.8 million rise in net interest income and an $18.2 million drop in noninterest expenses due to reduced merger charges. However, credit costs increased, with net charge-offs rising to $21 million and nonaccrual loans climbing to $79.7 million, primarily driven by NYC rent-stabilized multifamily loans.
- ConnectOne Bancorp returned to profit in Q2 2026, posting net income available to common shareholders of $40.2 million, or $0.80 per share. * Net interest income rose $34.8 million from a year earlier; net interest margin widened 36 basis points to 3.42%. * Provision for credit losses fell $27.4 million, reflecting the initial $27.4 million provision booked a year earlier on the FLIC acquisition. * Noninterest expense dropped $18.2 million, as merger and restructuring charges fell to $0.1 million from $30.7 million. * Credit costs rose as net charge-offs increased to $21 million; nonaccrual loans climbed to $79.7 million, driven by NYC rent-stabilized multifamily loans. Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. ConnectOne Bancorp Inc. published the original content used to generate this news brief via EDGAR, the Electronic Data Gathering, Analysis, and Retrieval system operated by the U.S. Securities and Exchange Commission (Ref. ID: 0001437749-26-025623), on August 04, 2026, and is solely responsible for the information contained therein. © Copyright 2026 - Public Technologies (PUBT) Original Document: here