Connectone bancorp, inc. (CNOB)
Income statement / Quarterly
Mar'20Dec'19Sep'19Jun'19Mar'19Dec'18Sep'18Jun'18Mar'18Dec'17Sep'17Jun'17Mar'17Dec'16Sep'16Jun'16Mar'16Dec'15Sep'15Jun'15Mar'15Dec'14Sep'14Jun'14Mar'14Dec'13Sep'13Jun'13Mar'13Dec'12Sep'12Jun'12Mar'12Dec'11Sep'11Jun'11Mar'11Sep'10Jun'10
Interest income
Interest and fees on loans

72,936

64,833

66,796

63,524

60,326

53,306

51,699

49,494

47,025

46,945

43,241

40,632

38,006

38,601

37,803

36,561

35,017

33,686

32,276

30,217

29,314

28,999

28,098

10,461

10,111

10,169

10,148

9,892

9,923

10,083

10,039

9,414

9,385

9,197

8,956

8,950

9,217

9,378

9,419

Interest and dividends on investment securities:
Taxable

2,066

1,700

1,916

2,573

2,942

2,291

2,154

2,150

1,887

1,757

1,695

1,799

1,548

1,387

1,774

1,965

2,140

2,326

2,669

2,760

2,910

3,142

2,916

2,909

3,057

3,216

3,116

2,885

2,972

3,022

3,047

3,112

3,088

3,199

3,273

3,428

3,378

2,464

2,864

Tax-exempt

813

824

897

1,081

1,127

899

785

778

814

914

870

831

954

960

988

996

883

883

901

883

883

897

892

895

1,056

1,114

1,151

1,081

1,076

1,016

892

826

773

717

544

351

88

21

56

Dividends

400

409

502

410

457

495

530

502

485

439

362

290

330

336

352

370

352

284

297

280

220

38

349

136

113

145

126

121

131

141

137

140

149

150

146

149

184

172

149

Interest on federal funds sold and other short-term investments

499

242

278

290

357

232

183

160

264

156

170

139

246

215

261

146

134

51

43

41

43

-

88

-

-

0

0

0

2

-

3

4

-

-

-

0

-

-

-

Total interest income

76,714

68,008

70,389

67,878

65,209

57,223

55,351

53,084

50,475

50,211

46,338

43,691

41,084

41,499

41,178

40,038

38,526

37,230

36,186

34,181

33,370

33,126

32,343

14,401

14,337

14,644

14,541

13,979

14,104

14,263

14,118

13,496

13,395

13,263

12,919

12,878

12,867

12,035

12,488

Interest expense
Deposits

17,212

16,272

17,351

16,596

15,351

12,398

10,681

9,169

7,688

6,953

6,113

5,495

5,109

5,135

5,159

4,434

3,939

3,775

3,655

3,301

3,025

2,918

2,725

1,301

1,316

-

1,330

-

-

-

-

-

-

-

-

-

-

-

-

Interest on certificates of deposit $100 or more

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

220

239

-

203

182

252

270

332

348

265

282

340

Interest on other deposits

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

1,063

1,045

-

1,124

1,126

1,156

1,172

1,059

1,072

1,002

1,213

1,235

Borrowings

4,221

4,305

4,632

5,752

4,906

4,664

4,708

4,970

4,640

3,450

3,206

3,095

2,834

2,957

2,995

3,210

3,267

2,999

2,804

2,202

2,053

1,633

2,072

1,432

1,411

1,456

1,489

1,468

1,450

1,476

1,608

1,642

1,642

1,580

1,678

1,665

1,655

2,158

2,256

Total interest expense

21,433

20,577

21,983

22,348

20,257

17,062

15,389

14,139

12,328

10,403

9,319

8,590

7,943

8,092

8,154

7,644

7,206

6,774

6,459

5,503

5,078

4,551

4,797

2,733

2,727

2,778

2,819

2,751

2,734

2,841

2,935

2,950

3,050

3,101

3,069

3,085

2,922

3,653

3,831

Net interest income

55,281

47,431

48,406

45,530

44,952

40,161

39,962

38,945

38,147

39,808

37,019

35,101

33,141

33,407

33,024

32,394

31,320

30,456

29,727

28,678

28,292

28,575

27,546

11,668

11,610

11,866

11,722

11,228

11,370

11,422

11,183

10,546

10,345

10,162

9,850

9,793

9,945

8,382

8,657

Provision for loan losses

16,000

500

2,000

1,100

4,500

1,100

1,100

1,100

17,800

2,000

1,450

1,450

1,100

25,200

6,750

3,750

3,000

5,055

4,175

1,550

1,825

2,474

1,300

284

625

-

-

-

0

100

225

-107

107

300

1,020

250

878

1,307

781

Net interest income after provision for loan losses

39,281

46,931

46,406

44,430

40,452

39,061

38,862

37,845

20,347

37,808

35,569

33,651

32,041

8,207

26,274

28,644

28,320

25,401

25,552

27,128

26,467

26,101

26,246

11,384

10,985

11,516

11,722

11,228

11,370

11,322

10,958

10,653

10,238

9,862

8,830

9,543

9,067

7,075

7,876

Noninterest income
Service charges, commissions and fees

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

780

451

406

-

459

421

446

481

505

461

449

535

459

Annuity and insurance commissions

-

-

-

-

-

-

-

-

-

-

0

-

39

51

68

32

40

33

77

46

86

83

94

105

100

151

92

146

100

67

45

48

44

29

42

33

6

3

23

Income on bank owned life insurance

967

914

915

833

822

794

751

775

774

779

985

714

703

716

615

616

612

620

388

388

386

391

401

256

255

260

265

274

565

282

239

246

251

258

259

261

260

429

264

Loan related fees

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

114

227

-

89

95

110

-3

203

145

87

-

-

Net gains on sale of loans held-for-sale

393

169

278

46

19

30

2

12

17

588

50

49

21

85

56

56

35

51

63

99

114

38

65

43

36

39

26

91

138

174

84

100

126

-

-

-

-

-

-

Bargain gain on acquisition

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

899

-

-

-

-

-

-

-

-

Deposit, loan and other income

1,287

1,209

1,116

914

786

691

676

601

616

657

721

659

643

720

706

763

515

522

1,224

458

463

850

502

746

715

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net gains on equity securities

178

-46

79

158

103

58

-157

-47

-120

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net (losses) gains on sale of investment securities

29

0

-279

-9

8

-

-

-

-

0

0

0

1,596

0

4,131

103

0

1,137

2,067

221

506

718

111

574

1,415

1,077

343

600

343

337

897

653

995

856

1,316

943

861

1,056

1,362

Insurance recovery

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

2,224

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Total other-than-temporary impairment losses

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

24

538

134

140

58

39

66

142

95

23

705

Net other-than-temporary impairment losses on investment securities

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

66

142

95

23

705

Net investment securities gains

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

319

-201

763

513

937

817

1,250

801

766

1,033

657

Total noninterest income

2,854

2,246

2,109

1,942

1,738

1,573

1,272

1,341

1,287

2,024

1,756

1,422

3,002

1,572

5,576

1,570

1,202

-

3,819

3,436

-

2,080

1,173

1,724

2,521

1,756

1,543

1,707

1,845

1,016

2,635

1,604

1,955

1,866

2,283

1,732

1,597

2,135

1,482

Total other income

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

1,555

-

-

-

-

-

37

31

90

-

57

181

41

33

24

31

29

135

79

Noninterest expenses
Salaries and employee benefits

14,533

12,853

12,420

11,793

11,955

9,981

10,174

9,729

9,672

9,355

8,810

8,569

8,144

7,583

7,791

7,753

7,599

7,204

6,905

6,948

6,628

6,070

6,243

3,184

3,332

3,393

3,247

3,335

3,490

3,205

3,193

3,055

3,118

2,909

2,848

2,903

2,867

2,721

2,727

Occupancy and equipment

3,471

2,380

2,480

2,357

2,495

2,001

2,137

2,031

2,143

1,948

1,969

1,991

2,255

2,121

2,049

2,154

2,247

1,801

1,916

1,788

2,082

1,635

1,781

816

1,080

962

839

811

906

942

739

606

700

701

713

667

866

754

734

FDIC insurance

856

795

-364

825

755

765

735

765

850

935

840

815

895

985

745

615

595

575

535

440

560

526

504

288

300

294

283

208

313

293

292

270

299

328

328

528

528

510

458

Professional and consulting

1,574

1,428

1,499

1,370

1,209

1,129

891

825

723

671

740

734

718

901

667

700

711

906

836

715

494

570

530

306

255

310

352

230

219

260

277

294

246

351

319

245

241

153

422

Stationery and printing

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

78

85

-

69

96

84

95

73

99

101

68

90

Marketing and advertising

304

273

473

397

210

244

192

337

207

226

225

289

256

313

293

250

184

213

247

193

194

222

209

27

40

47

94

62

101

35

64

56

31

15

30

65

21

36

105

Data processing

1,473

1,151

1,058

1,139

1,155

1,080

1,102

1,091

1,148

1,069

1,176

1,149

1,149

1,105

1,002

1,010

1,024

1,017

957

829

900

955

902

373

345

364

362

343

353

338

366

362

353

323

300

350

339

320

340

Loss on fixed assets, net

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-437

Repurchase agreement prepayment and termination fee

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

1,012

-

-

-

-

-

-

-

-

Other real estate owned, net

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

107

19

-

65

22

62

399

0

0

-1

20

43

Merger expenses

9,494

871

191

331

7,562

-

375

-

-

-

0

-

-

-

-

-

-

-

-

-

-

1,815

8,784

729

1,060

-

-

-

0

-

472

-

-

-

-

-

-

-

-

Loss on extinguishment of debt

-

-

-

-1,047

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

-2,397

-

-

-4,550

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Amortization of core deposit intangibles

652

340

340

364

364

144

145

169

169

169

169

193

193

193

193

217

217

218

217

241

241

-

248

-

6

-

6

-

-

-

-

-

-

-

-

-

-

-

-

Other components of net periodic pension expense

30

28

29

29

28

7

7

7

7

63

62

63

62

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Increase in valuation allowance, loans held-for-sale

-

-

-

-

-

-

-

-

-

267

3,000

9,725

2,600

-

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Change in fair value of equity securities

-

-

-

-

-

-

-

-

-

-

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Other expenses

2,671

2,078

2,253

1,938

2,329

2,013

2,372

2,107

2,020

1,863

1,650

1,775

1,977

1,746

1,811

1,653

1,776

1,644

1,688

1,423

1,532

745

1,649

1,021

1,078

1,354

1,022

902

1,052

1,508

958

929

914

1,101

918

900

973

860

912

Total noninterest expenses

35,058

22,197

20,379

21,590

28,062

18,324

18,130

17,061

16,939

16,566

18,641

25,303

18,249

15,251

14,551

14,352

14,353

13,578

13,301

14,974

12,631

15,164

25,400

6,744

7,496

6,459

6,205

6,076

6,538

6,193

7,507

5,690

5,807

6,222

5,529

5,757

5,935

5,442

6,268

Income before income tax expense

7,077

26,980

28,136

24,782

14,128

22,310

22,004

22,125

4,695

23,266

18,684

9,770

16,794

-5,472

17,299

15,862

15,169

14,186

16,070

15,590

15,391

13,017

2,019

6,364

6,010

6,813

7,060

6,859

6,677

6,145

6,086

6,567

6,386

5,506

5,584

5,518

4,729

3,768

3,090

Income tax expense

1,047

6,197

6,440

5,501

2,493

3,638

2,102

4,598

444

12,686

5,607

2,087

4,914

-3,448

5,443

5,003

4,778

4,617

5,228

5,069

5,012

4,994

253

1,986

1,612

1,829

1,966

1,936

1,753

1,676

1,632

2,214

2,155

1,884

1,882

1,934

1,711

1,629

1,076

Net income

6,030

20,783

21,696

19,281

11,635

18,672

19,902

17,527

4,251

10,580

13,077

7,683

11,880

-2,024

11,856

10,859

10,391

9,569

10,842

10,521

10,379

8,023

1,766

4,378

4,398

4,984

5,094

4,923

4,924

4,469

4,454

4,353

4,231

3,622

3,702

3,584

3,018

2,139

2,014

Less: Preferred stock dividends

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

22

28

28

28

28

28

28

28

28

29

28

28

56

28

28

84

141

384

145

145

146

146

146

Net income available to common stockholders

-

-

-

-

-

-

-

-

-

-

-

-

-

-2,024

11,856

10,859

10,369

9,541

10,814

10,493

10,351

7,995

1,738

4,350

4,370

4,955

5,066

4,895

4,868

4,441

4,426

4,269

4,090

3,238

3,557

3,439

2,872

1,993

1,868

Earnings per common share
Earnings per common share:
Basic

0.15

0.60

0.61

0.54

0.33

0.58

0.62

0.54

0.13

0.33

0.41

0.24

0.37

-0.08

0.39

0.36

0.35

0.31

0.36

0.35

0.35

0.20

0.06

0.27

0.27

0.30

0.31

0.30

0.30

0.27

0.27

0.26

0.25

0.19

0.22

0.21

0.18

0.14

0.13

Diluted

0.15

0.59

0.61

0.54

0.33

0.58

0.61

0.54

0.13

0.32

0.41

0.24

0.37

-0.08

0.39

0.36

0.34

0.31

0.36

0.35

0.34

0.20

0.06

0.26

0.27

0.30

0.31

0.30

0.30

0.27

0.27

0.26

0.25

0.19

0.22

0.21

0.18

0.14

0.13

Weighted average common shares outstanding
Basic

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

30,045

29,868

29,757

-

29,636

16,372

16,350

16,350

16,349

16,348

16,348

16,347

16,347

16,333

16,332

16,311

16,290

16,290

16,290

14,649

14,574

Diluted

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

30,335

30,231

30,149

-

30,108

16,430

16,405

16,408

16,385

16,375

16,373

16,361

16,362

16,341

16,338

16,329

16,313

16,315

16,300

14,649

14,576

Dividends per common share

-

-

-

-

-

-

-

-

0.07

-

0.07

0.07

0.07

0.07

0.07

0.07

0.07

0.07

0.07

0.07

0.07

0.07

0.07

0.07

0.07

0.09

0.07

0.05

0.05

0.08

0.05

0.03

0.03

-

0.03

0.03

0.03

0.03

0.03