ConnectOne Bancorp (CNOB) investor relations material

Executive summary

• Achieved strong momentum in Q1 2026, exceeding strategic objectives set during the largest merger in company history, with net income available to common stockholders at $36.3M, up from $18.7M in Q1 2025.

• Diversified client base, improved deposit mix, and expanded geographic footprint to the NYC metro and South Florida.

• Disciplined expense management and integration of AI to enhance efficiency and scalability.

• Tangible book value per share increased 1.7% to $23.93.

• Common dividend per share increased by 8.3% to $0.195.

Financial highlights

• Operating earnings per share reached $0.79 for Q1 2026; diluted EPS was $0.72.

• Net interest margin expanded by 12 basis points sequentially to 3.39%.

• Loan portfolio grew by $300 million, an annualized rate of 10%, with loans receivable reaching $11.7B.

• Noninterest income was $6.8M, with SBA gains of $400,000 in Q1 and $1.1M more in April.

• Noninterest expenses were $57.9M, up from $56.9M in Q4 2025.

Outlook and guidance

• Expect continued margin expansion, targeting a year-end spot margin of 3.50%.

• Loan growth anticipated in the mid-single digits for the remainder of 2026.

• Deposit costs expected to remain flat for the year, with margin widening driven by loan repricing.

• Plan to repurchase about 100,000 shares per quarter, subject to market conditions and growth rates.

• Noninterest income momentum expected to continue, with $1.1M in SBA loan sale gains realized in April 2026.