Exhibit 99.1
Press Release
CONNECTONE BANCORP, INC.
ANNOUNCES CLOSING OF
PUBLIC OFFERING OF COMMON STOCK
Englewood Cliffs, New Jersey –
December 19, 2016 – ConnectOne Bancorp, Inc. (the "Company") (NASDAQ: CNOB), the parent company for
ConnectOne Bank, today announced the closing of its previously announced
underwritten public offering of common stock. In the offering, the Company sold
an aggregate of 1,659,794 shares at a price to the public of $24.25 per share.
The 1,659,794 shares sold include 216,495 shares sold pursuant to the exercise
in full by the underwriters of their option to purchase additional shares.
Keefe, Bruyette & Woods, A
Stifel Company, and Raymond James & Associates, Inc. acted as the joint
book-running managers for the offering.
The net proceeds to the
Company after deducting the underwriting discount and estimated offering
expenses are expected to be approximately $38.1 million. The Company expects to
use the net proceeds for general corporate purposes, which may include providing working
capital to support additional opportunities for organic growth at ConnectOne
Bank.
A shelf registration statement
on Form S-3 (File No. 333-213260) relating to the offering was filed previously
with the Securities and Exchange Commission ("SEC") and is effective. A final
prospectus supplement related to the offering has been filed with the SEC.
Copies of the shelf registration statement (including the base prospectus), the
final prospectus supplement and other documents that the Company has filed with
the SEC that are incorporated by reference into the registration statement are
available at no charge by visiting EDGAR on the SEC's website located at
www.sec.gov. Copies of the prospectus and prospectus supplement relating to the
offering may be obtained by contacting: Keefe, Bruyette &
Woods, A Stifel
Company, 787 Seventh Ave., 4th
Floor, New York, New York 10019, Attention: Equity Capital Markets, or by
telephone at 1-800-966-1559.
This announcement shall not
constitute an offer to sell or the solicitation of an offer to buy any
securities of the Company, nor shall there be any offer or sale of securities in
any state or jurisdiction in which such an offer, solicitation or sale would be
unlawful prior to registration or qualification under the securities laws of any
such state or jurisdiction.
About
ConnectOne
ConnectOne Bancorp, Inc. is a
New Jersey corporation and a registered bank holding company pursuant to the
Bank Holding Company Act of 1956, as amended, and serves as the holding company
for ConnectOne Bank. The Bank is a community-based, full-service New
Jersey-chartered commercial bank that was founded in 2005. The Bank operates
from its headquarters located at 301 Sylvan Avenue in the Borough of Englewood
Cliffs, Bergen County, New Jersey, and through its 20 other banking offices.
For more information, visit
https://www.ConnectOneBank.com
Forward-Looking
Statements
This news release contains
certain forward-looking statements which are based on certain assumptions and
describe future plans, strategies and expectations of the Company. These
forward-looking statements are generally identified by use of the words
"believe," "expect," "intend," "anticipate," "estimate," "project," or similar
expressions. The Company's ability to predict results or the actual effect of
future plans or strategies is inherently uncertain. Factors which could have a
material adverse effect on the operations of the Company and its subsidiaries
include, but are not limited to, those factors set forth in Item 1A – Risk
Factors of the Company’s Annual Report on Form 10-K for the year ended December
31, 2015, as filed with the Securities and Exchange Commission, and changes in
interest rates, general economic conditions, legislative/regulatory changes,
monetary and fiscal policies of the U.S. Government, including policies of the
U.S. Treasury and the Federal Reserve Board, the quality or composition of the
loan or investment portfolios, demand for loan products, deposit flows,
competition, demand for financial services in the Company's market area and
accounting principles and guidelines. These risks and uncertainties should be
considered in evaluating forward-looking statements and undue reliance should
not be placed on such statements. The Company does not undertake, and
specifically disclaims any obligation, to publicly release the result of any
revisions which may be made to any forward-looking statements to reflect events
or circumstances after the date of such statements or to reflect the occurrence
of anticipated or unanticipated events.
Media Contact:
Jake
Ciorciari, MWW
646.376.7042;
jciorciari@mww.com
