ConnectOne Bancorp Raises Quarterly Dividend 8.3% to $0.195 Per Share
ConnectOne Bancorp, Inc. (NASDAQ: CNOB), a regional banking holding company, declared a quarterly cash dividend of $0.195 per common share, marking an $0.015 increase from the prior quarter. The board also declared a $0.328125 dividend on its Series A preferred stock.
ConnectOne Bancorp, Inc. (NASDAQ: CNOB), a regional banking holding company, declared a quarterly cash dividend of $0.195 per common share, an 8.3% increase from the previous quarter's $0.180 per share. The dividend will be paid June 1, 2026, to shareholders of record as of May 15, 2026. Read more dividend announcements.
The board also declared a cash dividend of $0.328125 per depositary share on the company's 5.25% Fixed Rate Reset Non-Cumulative Perpetual Preferred Stock, Series A. Each depositary share represents a 1/40th interest in a share of the preferred stock. The preferred dividend will also be paid June 1 to holders of record on May 15.
| Security | Amount Per Share | Record Date | Payment Date |
|---|---|---|---|
| Common Stock | $0.195 | May 15, 2026 | June 1, 2026 |
| Preferred Stock (Series A) | $0.328125 | May 15, 2026 | June 1, 2026 |
First Quarter 2026 Financial Performance
ConnectOne reported fully taxable equivalent net interest income of $110.0 million for the first quarter of 2026, up $2.2 million, or 2.1%, from the fourth quarter of 2025. The company's net interest margin expanded 12 basis points to 3.39% from 3.27% in the prior quarter, driven by loan repricing and a 12 basis-point decline in the average cost of deposits.
Compared to the first quarter of 2025, fully taxable equivalent net interest income jumped $43.4 million, or 65.2%, reflecting a 46 basis-point margin expansion and a 42.7% increase in average interest-earning assets. The year-over-year growth was primarily attributed to the merger with FLIC.
Tangible book value per share increased 1.7% during the quarter despite share repurchases and loan growth. The company reported it is approximately one quarter away from reaching its pre-merger tangible book value per share of $24.16.
Credit quality metrics remained strong. Net charge-offs, excluding purchased credit deteriorated (PCD) loans, fell to 8 basis points annualized, while the nonaccrual loan ratio decreased. The company noted that 30-59 day delinquencies rose due to one isolated credit relationship.
In April 2026, following the quarter's close, ConnectOne generated an additional $1.1 million in gains from SBA loan sales, with management describing the pipeline as robust.