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Mar 31, 2022
ConnectOne Bancorp Q1 2022 Earnings Report
Reported a solid start to 2022 with strong operating performance and organic growth.
Key Takeaways
ConnectOne Bancorp reported a net income available to common stockholders of $29.9 million for Q1 2022, with diluted earnings per share of $0.75. The company saw strong organic loan growth and deposit growth, and tangible book value per share increased by 2.0% to $20.51.
Net income available to common stockholders was $29.9 million.
Diluted earnings per share were $0.75.
Efficiency ratio remained below 40% at 38.7%.
Tangible book value per share increased by 2.0% to $20.51.
Forward Guidance
ConnectOne anticipates continued organic growth, industry-leading margins and efficiency, and revenue growth outpacing expenses.
Positive Outlook
- Confident in increasing market presence.
- Expecting continued organic growth.
- Margins expected to remain among the best in the industry.
- Efficiency expected to remain among the best in the industry.
- Aim to grow revenues faster than expenses.
Challenges Ahead
- Not specified in the provided text.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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