Globenewswire·2025-10-30 11:00Core Insights - ConnectOne Bancorp reported a net income of $39.5 million for Q3 2025, a significant recovery from a loss of $21.8 million in Q2 2025 and an increase from $15.7 million in Q3 2024 [2] - The company completed its merger with The First of Long Island Corporation (FLIC) on June 1, 2025, which positively impacted its financial results [2][5] - The net interest margin expanded to 3.11% in Q3 2025, reflecting a 5 basis point increase from the previous quarter [5][7] Financial Performance - Operating net income available to common stockholders was $35.5 million in Q3 2025, up from $23.1 million in Q2 2025 and $16.1 million in Q3 2024 [3] - Diluted earnings per share (EPS) were $0.78 for Q3 2025, compared to $(0.52) in Q2 2025 and $0.41 in Q3 2024 [2] - The return on average assets was 1.16% for Q3 2025, up from 0.73% in Q2 2025 and 0.70% in Q3 2024 [2] Revenue and Expenses - Net interest income for Q3 2025 was $102.0 million, a 29.3% increase from Q2 2025 and a 67.2% increase from Q3 2024 [7][8] - Noninterest income reached $19.4 million in Q3 2025, significantly higher than $5.2 million in Q2 2025 and $4.7 million in Q3 2024 [9] - Noninterest expenses decreased to $58.7 million in Q3 2025 from $73.6 million in Q2 2025, primarily due to a reduction in merger expenses [10] Credit Quality - The provision for credit losses was $5.5 million in Q3 2025, down from $35.7 million in Q2 2025, which included a $27.4 million provision related to the FLIC merger [12] - Nonperforming assets were $39.7 million as of September 30, 2025, representing 0.28% of total assets, a decrease from 0.58% at the end of 2024 [13] Balance Sheet Highlights - Total assets increased to $14.0 billion as of September 30, 2025, compared to $9.9 billion at the end of 2024, largely due to the merger with FLIC [15] - Loans receivable were $11.3 billion as of September 30, 2025, up from $8.3 billion at the end of 2024 [15] - Total deposits reached $11.4 billion as of September 30, 2025, compared to $7.8 billion at the end of 2024 [15] Dividends - The Board of Directors declared a cash dividend of $0.18 per share on common stock, payable on December 1, 2025 [6]