ConnectOne Q2 FY26 returns to profit, net income USD 40.2 million
CNOB•CNOB•CNOB•CNOB•Credit costs rose as net charge-offs increased to $21 million; nonaccrual loans climbed to $79.7 million, driven by NYC rent-stabilized multifamily loans.
Provision for credit losses fell $27.4 million, reflecting the initial $27.4 million provision booked a year earlier on the FLIC acquisition.
Noninterest expense dropped $18.2 million, as merger and restructuring charges fell to $0.1 million from $30.7 million.
ConnectOne Bancorp returned to profit in Q2 2026, posting net income available to common shareholders of $40.2 million, or $0.80 per share.
Net interest income rose $34.8 million from a year earlier; net interest margin widened 36 basis points to 3.42%.
