Revenue: As of FY2026 Q1, the actual value is USD 191.19 M.

EPS: As of FY2026 Q1, the actual value is USD 0.72.

EBIT: As of FY2026 Q1, the actual value is USD -51.07 M.

Financial Performance Highlights

Net Income and Profitability

ConnectOne Bancorp, Inc. Depositary Shs Repr 1/40th Fix/Fltg Non-Cum Red Perp Pfd Rg Shs Ser A reported net income available to common stockholders of $36.3 million for the first quarter of 2026, compared to $38.0 million for the fourth quarter of 2025 and $18.7 million for the first quarter of 2025. Operating net income available to common stockholders was $39.6 million for the first quarter of 2026, $42.0 million for the fourth quarter of 2025, and $19.7 million for the first quarter of 2025.

Revenue

Fully taxable equivalent net interest income for the first quarter of 2026 was $110.0 million, an increase of 2.1% from $107.761 million in the fourth quarter of 2025, and a 65.2% increase from $66.580 million in the first quarter of 2025. Noninterest income was $6.8 million in Q1 2026, up from $6.0 million in Q4 2025 and $4.5 million in Q1 2025.

Margins

Net interest margin widened by 12 basis points to 3.39% in Q1 2026 from 3.27% in Q4 2025, and by 46 basis points from 2.93% in Q1 2025. Return on average assets was 1.10% for Q1 2026, compared to 1.12% for Q4 2025 and 0.84% for Q1 2025. Operating return on average assets was 1.19% for Q1 2026, 1.24% for Q4 2025, and 0.88% for Q1 2025. Pre-provision net operating revenue (“Operating PPNR”) as a percentage of average assets was 1.81% for Q1 2026, 1.75% for Q4 2025, and 1.34% for Q1 2025. Operating efficiency ratio was 45.4% for Q1 2026, 45.3% for Q4 2025, and 53.0% for Q1 2025.

Operating Costs

Noninterest expenses totaled $57.9 million for Q1 2026, $56.9 million for Q4 2025, and $39.3 million for Q1 2025. Operating noninterest expense was $52.9 million in Q1 2026, $52.0 million in Q4 2025, and $37.4 million in Q1 2025. The provision for credit losses was $5.2 million for Q1 2026, $2.3 million for Q4 2025, and $3.5 million for Q1 2025. Income tax expense was $14.7 million for Q1 2026, $13.9 million for Q4 2025, and $7.2 million for Q1 2025.

Operational Metrics and Balance Sheet

Assets and Loans

Total assets were $14.2 billion as of March 31, 2026, up from $14.0 billion as of December 31, 2025. Loans receivable increased to $11.7 billion as of March 31, 2026, from $11.5 billion as of December 31, 2025, representing an annualized loan growth of approximately 10%. Average interest-earning assets were $13.16 billion in Q1 2026, compared to $13.09 billion in Q4 2025 and $9.22 billion in Q1 2025.

Deposits

Total deposits reached $11.5 billion as of March 31, 2026, up from $11.2 billion as of December 31, 2025, also reflecting an annualized growth rate of approximately 10%. Average total deposits were $11.28 billion in Q1 2026, $11.33 billion in Q4 2025, and $7.67 billion in Q1 2025.

Equity and Book Value

Total stockholders’ equity increased to $1.592 billion as of March 31, 2026, from $1.573 billion as of December 31, 2025. Tangible book value per share increased by 1.7% to $23.93 as of March 31, 2026, from $23.52 as of December 31, 2025. The tangible common equity ratio was 8.64% as of March 31, 2026, compared to 8.62% as of December 31, 2025.

Asset Quality

Nonperforming assets were $41.6 million as of March 31, 2026, an improvement from $45.9 million as of December 31, 2025, and $49.9 million as of March 31, 2025. Nonperforming assets as a percentage of total assets improved to 0.29% as of March 31, 2026, from 0.33% as of December 31, 2025, and 0.51% as of March 31, 2025. The nonaccrual loan ratio also decreased to 0.35% as of March 31, 2026, from 0.40% at December 31, 2025, and 0.61% at March 31, 2025. The annualized net loan charge-offs ratio (excluding PCD loans) declined to 0.08% for Q1 2026, from 0.17% for Q4 2025 and Q1 2025. The Allowance for Credit Losses (ACL) represented 1.30% of loans receivable as of March 31, 2026, compared to 1.35% as of December 31, 2025, and 1.00% as of March 31, 2025. The ACL as a percentage of nonaccrual loans was 368.1% as of March 31, 2026, 336.1% as of December 31, 2025, and 165.3% as of March 31, 2025. Criticized and classified loans as a percentage of loans receivable improved to 2.26% as of March 31, 2026, down from 2.49% as of December 31, 2025, and 2.79% as of March 31, 2025. Loans past due 30-59 days were 0.81% of loans receivable as of March 31, 2026, compared to 0.19% as of December 31, 2025, and 0.18% as of March 31, 2025, primarily due to an interrelated series of credits totaling $63.8 million.

Dividends and Share Repurchases

An increased quarterly cash dividend on common stock of $0.195 per share was declared, representing an 8.3% increase. A dividend of $0.328125 per depositary share of Series A Preferred Stock was also declared. During Q1 2026, the company repurchased 90,000 shares of common stock at an average price of $26.21.

Outlook / Guidance

ConnectOne Bancorp, Inc. Depositary Shs Repr 1/40th Fix/Fltg Non-Cum Red Perp Pfd Rg Shs Ser A anticipates a strong year in 2026, with accelerating portfolio loan yields expected to contribute to continued net interest margin expansion. The company is focused on leveraging merger synergies and driving productivity gains through AI workflow. It is also approximately one quarter away from returning to its pre-merger tangible book value per share of $24.16.