Quarterly Financial Information of ConnectOne Bancorp, Inc. (Unaudited)

12 Months Ended

Dec. 31, 2016

Quarterly Financial Information Disclosure [Abstract]

Quarterly Financial Information [Text Block]

Note 24 - Quarterly Financial Information of ConnectOne Bancorp, Inc. (unaudited)

	2016
	4th Quarter		3rd Quarter		2nd Quarter		1st Quarter
	(dollars in thousands, except per share data)
Total interest income	$	41,499	$	41,178	$	40,038	$	38,526
Total interest expense		8,092		8,154		7,644		7,206
Net interest income		33,407		33,024		32,394		31,320
Provision for loan and lease losses		25,200		6,750		3,750		3,000
Total other income, net of securities gains		1,573		1,445		1,467		1,202
Net securities gains		-		4,131		103		-
Other expense		15,252		14,551		14,352		14,353
(Loss) income before income taxes		(5,472)		17,299		15,862		15,169
Income tax (benefit) expense		(3,448)		5,443		5,003		4,778
Net income (loss)		(2,024)		11,856		10,859		10,391
Preferred dividends		-		-		-		22
Net income available to common stockholders	$	(2,024)	$	11,856	$	10,859	$	10,369
(Loss) earnings per share:
Basic	$	(0.07)	$	0.39	$	0.36	$	0.35
Diluted		(0.07)		0.39		0.36		0.34

	2015
	4th Quarter		3rd Quarter		2nd Quarter		1st Quarter
	(dollars in thousands, except per share data)
Total interest income	$	37,230	$	36,186	$	34,181	$	33,370
Total interest expense		6,774		6,459		5,503		5,078
Net interest income		30,456		29,727		28,678		28,292
Provision for loan and lease losses		5,055		4,175		1,550		1,825
Total other income, net of securities gains		1,225		1,752		3,215		1,049
Net securities (losses) gains		1,138		2,067		221		506
Other expense		13,579		13,301		14,974		12,631
Income before income taxes		14,185		16,070		15,590		15,391
Provision from income taxes		4,617		5,228		5,069		5,012
Net income		9,568		10,842		10,521		10,379
Preferred dividends		28		28		28		28
Net income available to common stockholders	$	9,540	$	10,814	$	10,493	$	10,351
Earnings per share:
Basic	$	0.32	$	0.36	$	0.35	$	0.35
Diluted		0.31		0.36		0.35		0.34

Note:  Due to rounding, quarterly earnings per share may not sum to reported annual earnings per share.

The provision for loan and lease losses for the fourth quarter was a notable increase that was mainly attributable to the transfer of the Company’s taxi medallion portfolio to loans held-for-sale.