ConnectOne Bancorp, Inc.
For the period ended Dec 31, 2025. Filed Feb 24, 2026.
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FY2025 · Filed Feb 24, 2026
CNOB$32.82-0.6%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Item 8. Consolidated Statements of Cash Flows
| Years Ended December 31, | |||||
|---|---|---|---|---|---|
| (dollars in thousands) · 2025 · 2024 · 2023 | |||||
| Cash flows from operating activities | |||||
| Net income | $80,443 | $73,793 | $87,003 | ||
| Adjustments to reconcile net income to net cash provided by operating activities: | |||||
| Depreciation and amortization of premises and equipment | 6,087 | 4,422 | 4,503 | ||
| Provision for credit losses | 47,000 | 13,800 | 8,200 | ||
| Amortization of intangibles | 7,922 | 1,235 | 1,438 | ||
| Net accretion of loans | (23,902) | (879) | (1,904) | ||
| Accretion on bank premises | - | (49) | (49) | ||
| Amortization (accretion) on deposits | 1,236 | (88) | (279) | ||
| Amortization on borrowings | 22 | 22 | 21 | ||
| Net deferred income tax (benefit) expense | (2,772) | (2,040) | 4,135 | ||
| Loss on bank owned life insurance policy exchange | 327 | - | - | ||
| Stock-based compensation | 4,648 | 4,568 | 4,860 | ||
| (Gain) loss on equity securities, net | (1,704) | (2) | 117 | ||
| Gain on sale of loans held-for-sale, net | (2,003) | (2,723) | (1,704) | ||
| Loans originated for resale | (30,321) | (29,340) | (26,153) | ||
| Proceeds from sale of loans held-for-sale | 32,676 | 31,320 | 36,645 | ||
| Net loss on disposition of fixed assets | 1,275 | 477 | - | ||
| Net loss on sale of other real estate owned | - | - | 22 | ||
| Accretion of cash surrender value of bank owned life insurance | (9,548) | (7,142) | (6,316) | ||
| Accretion of discounts and amortization of premium on securities available-for-sale | (746) | 793 | 1,030 | ||
| Amortization of subordinated debt issuance costs | 645 | 505 | 1,184 | ||
| (Increase) decrease in accrued interest receivable | (1,327) | 3,610 | (3,046) | ||
| Net change in operating leases | (1,042) | (155) | (54) | ||
| (Increase) decrease in other assets | (10,628) | 8,691 | (7,514) | ||
| Increase (decrease) in other liabilities | 8,110 | (40,118) | (9,248) | ||
| Net cash provided by operating activities | 106,398 | 60,700 | 92,891 | ||
| Cash flows from investing activities | |||||
| Investment securities available-for-sale: | |||||
| Purchases | (441,441) | (80,519) | (42,143) | ||
| Sales | 277,477 | - | - | ||
| Maturities, calls and principal repayments | 161,768 | 69,651 | 64,550 | ||
| Purchases of equity securities | (1,825) | (1,526) | (2,870) | ||
| Proceeds from equity securities sold | 4,334 | - | - | ||
| Net redemptions (purchases) of restricted investment in bank stocks | 10,003 | 11,008 | (4,853) | ||
| Loans held-for-sale payments | - | - | 25 | ||
| Net (increase) decrease in loans | (246,232) | 57,941 | (255,556) | ||
| Proceeds from sale of other real estate owned | - | - | 242 | ||
| Proceeds from bank owned life insurance | 278 | 1,114 | - | ||
| Purchases of premises and equipment | (5,389) | (3,793) | (7,433) | ||
| Proceeds from disposition of fixed assets | - | 1,275 | - | ||
| Cash acquired, net of cash consideration paid in acquisition | 54,869 | - | - | ||
| Net cash (used in) provided by investing activities | (186,158) | 55,151 | (248,038) | ||
| Cash flows from financing activities | |||||
| Net increase in deposits | 168,118 | 284,000 | 179,859 | ||
| Proceeds from issuance of subordinated debt | 200,000 | - | - | ||
| Redemption of subordinated debt | (75,000) | - | (75,000) | ||
| Payment of subordinated debt issuance costs | (3,725) | - | - | ||
| Proceeds from FHLB borrowings | 966,000 | 866,529 | 2,946,500 | ||
| Repayment of FHLB borrowings | (1,111,002) | (1,112,066) | (2,870,564) | ||
| Cash dividends paid on preferred stock | (6,036) | (6,036) | (6,036) | ||
| Cash dividends paid on common stock | (31,956) | (27,281) | (25,912) | ||
| Purchase of treasury stock | - | (5,820) | (17,497) | ||
| Proceeds from exercise of stock options | - | - | 96 | ||
| Share redemption for tax withholdings on performance units and deferred stock units earned | (2,232) | (1,403) | (1,900) | ||
| Net cash provided by (used in) financing activities | 104,167 | (2,077) | 129,546 | ||
| Net change in cash and cash equivalents | 24,407 | 113,774 | (25,601) | ||
| Cash and cash equivalents at beginning of period | 356,488 | 242,714 | 268,315 | ||
| Cash and cash equivalents at end of period | $380,895 | $356,488 | $242,714 | ||
| Supplemental disclosures of cash flow information: | |||||
| Cash payments for: | |||||
| Interest paid | $286,294 | $270,946 | $230,806 | ||
| Income taxes paid | 43,739 | 24,001 | 31,647 | ||
| Supplemental disclosures of noncash investing activities: | |||||
| Fair value of assets acquired | $3,905,094 | $ | - | $ | - |
| Fair value of liabilities assumed | 3,641,505 | - | - | ||
| Stock issued in connection with FLIC merger | 270,819 | - | - | ||
| Transfer of loans held-for-sale to loans held-for-investment | - | - | 16,156 | ||
| Transfer of loans held-for-investment to loans held-for-sale | - | - | 11,197 | ||
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