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Dec 31, 2021
ConnectOne Bancorp Q4 2021 Earnings Report
Reported fourth quarter and record full-year results.
Key Takeaways
ConnectOne Bancorp reported a net income available to common stockholders of $31.3 million for Q4 2021, with diluted earnings per share of $0.79. The company experienced growth in loans and noninterest-bearing deposits, contributing to a strong financial performance.
Net income available to common stockholders was $31.3 million.
Diluted earnings per share reached $0.79.
Loans, excluding PPP, increased by 5.3% sequentially.
Noninterest bearing deposits grew by 7.7% sequentially.
Forward Guidance
ConnectOne projects strong growth and increased operating leverage for 2022, with margins and efficiency expected to remain among the best in the industry. The company anticipates continued momentum for loan growth and is well-positioned to pursue attractive opportunities to expand its franchise.
Positive Outlook
- Projecting strong growth and increased operating leverage.
- Margins and efficiency are expected to remain among the best in the industry.
- Optimistic regarding continued momentum for loan growth in 2022.
- Well positioned to continue to pursue attractive opportunities to expand valuable franchise.
- Expects operating expenses to accelerate in 2022 at an increased pace, largely resulting from wage inflation, increased staffing levels and its ongoing investment in technology.
Challenges Ahead
- Operating expenses are expected to accelerate in 2022 at an increased pace.
- Expense growth largely resulting from wage inflation.
- Expense growth largely resulting from increased staffing levels.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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