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- **Merger Synergies Realized**: Seamless post-merger integration drives 4% annualized deposit growth and 3.11% NIM. 
- **Margin Expansion**: Q4 NIM target of 3.25%+, with 2026 outlook of 3.40%-3.50%. 
- **BoeFly Growth Engine**: 250+ franchise partnerships to fuel SBA gains, with 2026 noninterest income set to rise. 
- **Credit Resilience**: Nonperforming assets at 0.28%, with 2.5% of loans in rent-regulated sector (60% ring-fenced). 
- **2026 Targets**: ROA of 1.2%+, ROTCE of 15%, and 5%+ loan growth.

**【CEO Summary Section】**
- **Merger Integration Success**: Full post-merger integration achieved within 2 weeks, with seamless systems conversion and cultural alignment. 
- **Financial Momentum**: $465M in loan originations, core deposit growth, and loan-to-deposit ratio below 100%. 
- **Credit Strength**: Nonperforming assets at 0.28%, annualized net charge-offs below 0.20%, and 30-day delinquencies at 0.08%. 
- **Market Expansion**: Accelerated growth in Long Island, with a diversified pipeline in C&amp;I, CRE, and SBA lending.

**【CFO Financial Commentary】**
- **Net Interest Margin (NIM)**: Expanded to 3.11% (vs. 3.06% Q2, 2.67% YoY), with Q4 target of 3.25%+. 
- **One-Time Gains**: $6.6M ERTC recovery and $3.5M pension curtailment gain, boosting Q3 pretax income by $10M. 
- **Profitability Targets**: 2026 ROA of 1.2%+ and ROTCE of 15%, supported by 5%+ loan growth and margin expansion to 3.40%-3.50%. 
- **Capital Position**: Tangible book value up 5% since merger, with plans for dividend increases and share buybacks in 2026.

**【Q&A Key Highlights】**
- **Profitability Outlook**: CFO expects 2026 NIM of 3.40%-3.50% and ROA approaching 1.30%. 
- **Fed Policy Impact**: Eased deposit competition and yield curve steepening to support growth. 
- **BoeFly Growth**: 250+ franchise partnerships, with SBA gains expected to accelerate in 2026. 
- **Rent-Regulated Loans**: $700M exposure (2.5% of total loans), with 60% ring-fenced via 20% mark. 
- **Capital Allocation**: 2026 plans include dividend hikes and opportunistic buybacks, alongside disciplined organic growth.

ConnectOne Bancorp, Inc. (CNOB) Q3 2025 Earnings Call Transcript

Revenue

Sales and Services Revenue

Financing Services Revenue

Other Revenue

Cost of Revenue

Cost of Goods and Services

Cost of Financing Services

Other Cost

Gross Profit

Other Operating Income

Operating Expenses

Selling, General and Administrative Expenses

Selling and Marketing Expenses

General and Administrative Expenses

Research and Development Expenses

Loss on Bad Debts

Loss on Impairment of Other Assets

Loss on Disposal of Assets

Other Operating Expenses

Operating Income

Non-Operating Income (Loss)

Income (Loss) from Affiliates

Income (Loss) from Associates

Income (Loss) from Joint ventures

Gain (Loss) on Other Investment

Gain (Loss) on Change in Fair Value

Gain (Loss) on Foreign Currency Exchange

Other Non-Operating Income (Loss)

Net Interest Expense

Interest Expense

Interest Income

Pretax Income From Continuing Operations

Income Tax Expense

Current Income Tax

Deferred Income Tax

Income Tax Adjustments

Net Income from Continuing Operations

Income from Discontinued Operations

Other Items Before Net Income

Net Income

Net Income Attributable to Minority Interests

Net Income Attributable to Owners of the Company

Preferred Stock Dividends

Other Adjustments

Net Income Attributable to Common Stockholders

Other Comprehensive Income

Total Comprehensive Income

Total Comprehensive Income Attributable to Minority Interests

Total Comprehensive Income Attributable to Owners of the Company

Basic EPS

Basic EPS from Continuing Operations

Basic EPS from Discontinued Operations

Diluted EPS

Diluted EPS from Continuing Operations

Diluted EPS from Discontinued Operations

CNOB

CNOB fundamentals

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