What factors drove the changes in ConnectOne Pref A ADR's revenue and profit?

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Did ConnectOne Pref A ADR beat or miss consensus estimates last quarter?

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What is the revenue and EPS growth rate for ConnectOne Pref A ADR year over year?

- **Record Margin Expansion**: 3.42% net interest margin (7Q streak), 42.7% efficiency ratio.
- **Strong Balance Sheet Growth**: 10% loan growth, 20% non-interest-bearing deposits, $7.9M non-interest income.
- **Multifamily Risk Management**: $13.8M charge-off offset by reserve release, exploring bulk sale to reduce 5% of loans.
- **Florida Market Momentum**: $700M in Florida footings, 50% growth from Northeast transplants, and 1.5% sequential expense guidance.
- **Capital Returns**: $90M buybacks YTD, 8.78% tangible common equity, $24.66 tangible book value.

**【CEO Summary Section】**
- **Revenue Growth**: Sequential net income increased 10% to $40.2 million ($0.80 EPS), driven by margin expansion and balance sheet growth.
- **Client-Centric Strategy**: Core deposit growth (8% annualized) and disciplined loan origination led to 5% annualized loan growth.
- **Efficiency Improvements**: 3.42% net interest margin (up 30bps Q/Q), 42.7% efficiency ratio (vs. 49.2% last year), and 50% reduction in manual processes via nCino partnership.
- **Capital Management**: $90M share buybacks YTD, $0.195 dividend maintained, and 1.18% allowance for loan losses.
- **Credit Quality**: Non-performing assets at 0.55% (up from 0.29%), but criticized loans down to 1.89% of total loans.

**【CFO Financial Commentary】**
- **Margin Expansion**: 3.42% net interest margin (7th consecutive quarter increase), with $700M loans repricing at +255bps.
- **Balance Sheet Growth**: Average loans +10% annualized, non-interest-bearing deposits +20% annualized.
- **Non-Interest Income**: $7.9M (up $1M Q/Q) from SBA sales, with higher levels expected in H2.
- **Expense Control**: $55.3M operating expenses (down $0.4M Q/Q), guided for 1.5% sequential growth.
- **Credit Actions**: $13.8M charge-off on multifamily loan, offset by $9.2M reserve release, and $4.6M provision increase.
- **Capital Returns**: $24.66 tangible book value (3.1% Q/Q), 8.78% tangible common equity ratio.

**【Q&A Key Highlights】**
- **Multifamily Loan Sale**: Exploring bulk sale to de-risk 5% of loan portfolio; valuations near bottom.
- **Loan Pipeline**: Mid-single digit growth expected, with strong CRE and Florida market momentum.
- **CRE Concentration**: Targeting long-term reduction below 400%, while maintaining disciplined CRE growth.
- **Deposit Costs**: Modeling cautious rate hikes, but loan repricing benefits outweighing deposit beta sensitivity.
- **Florida Expansion**: $700M in Florida footings, 50% growth from Northeast transplants, and favorable market dynamics.
- **Credit Outlook**: One-off multifamily charge-off, but overall credit quality improving with 0.03% annualized charge-offs ex-multifamily.

CNOBP

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ConnectOne Pref A ADR (CNOBP) Financials Overview

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