ConnectOne Bancorp Inc
For the period ended Dec 31, 2023. Filed Feb 23, 2024.
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FY2023 · Filed Feb 23, 2024
CNOB$32.82-0.6%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Consolidated Statements of Financial Condition
| December 31, | ||
|---|---|---|
| 2023 | 2022 | |
| (in thousands, except share data) | ||
| ASSETS | ||
| Cash and due from banks | $61,421 | $61,629 |
| Interest-bearing deposits with banks | 181,293 | 206,686 |
| Cash and cash equivalents | 242,714 | 268,315 |
| Investment securities | 617,162 | 634,884 |
| Equity securities | 18,564 | 15,811 |
| Loans held-for-sale | - | 13,772 |
| Loans receivable | 8,345,145 | 8,099,689 |
| Less: Allowance for credit losses - loans | 81,974 | 90,513 |
| Net loans receivable | 8,263,171 | 8,009,176 |
| Investment in restricted stock, at cost | 51,457 | 46,604 |
| Bank premises and equipment, net | 30,779 | 27,800 |
| Accrued interest receivable | 49,108 | 46,062 |
| Bank owned life insurance | 237,644 | 231,328 |
| Right of use operating lease assets | 12,007 | 10,179 |
| Other real estate owned | - | 264 |
| Goodwill | 208,372 | 208,372 |
| Core deposit intangibles | 5,874 | 7,312 |
| Other assets | 118,751 | 125,069 |
| Total assets | $9,855,603 | $9,644,948 |
| LIABILITIES | ||
| Deposits: | ||
| Noninterest-bearing | $1,259,364 | $1,501,614 |
| Interest-bearing | 6,276,838 | 5,855,008 |
| Total deposits | 7,536,202 | 7,356,622 |
| Borrowings | 933,579 | 857,622 |
| Subordinated debentures, net of debt issuance costs | 79,439 | 153,255 |
| Operating lease liabilities | 13,171 | 11,397 |
| Other liabilities | 76,592 | 87,301 |
| Total liabilities | 8,638,983 | 8,466,197 |
| COMMITMENTS AND CONTINGENCIES | ||
| STOCKHOLDERS’ EQUITY | ||
| Preferred Stock, no par value; | ||
| $1,000 per share liquidation preference; Authorized 5,000,000 shares; issued 115,000 shares as of December 31, 2023 and as of December 31, 2022; outstanding 115,000 shares as of December 31, 2023 and as of December 31, 2022 | 110,927 | 110,927 |
| Common stock, no par value: | ||
| Authorized 100,000,000 shares; issued 42,122,948 shares as of December 31, 2023 and 41,942,149 shares as of December 31, 2022; outstanding 38,519,770 shares as of December 31, 2023 and 39,243,123 as of December 31, 2022 | 586,946 | 586,946 |
| Additional paid-in capital | 33,182 | 30,126 |
| Retained earnings | 590,970 | 535,915 |
| Treasury stock, at cost 3,603,178 shares as of December 31, 2023 and 2,699,026 shares as of December 31, 2022 | (70,296) | (52,799) |
| Accumulated other comprehensive loss | (35,109) | (32,364) |
| Total stockholders’ equity | 1,216,620 | 1,178,751 |
| Total liabilities and stockholders’ equity | $9,855,603 | $9,644,948 |
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