Note 22 - Quarterly Financial Information of ConnectOne Bancorp, Inc. (Unaudited)

12 Months Ended

Dec. 31, 2023

Notes to Financial Statements

Quarterly Financial Information [Text Block]

Note 22 – Quarterly Financial Information of ConnectOne Bancorp, Inc. (unaudited)

	2023
	4th Quarter		3rd Quarter		2nd Quarter		1st Quarter
	(dollars in thousands, except per share data)
Total interest income	$	128,957	$	123,686	$	121,325	$	116,097
Total interest expense		67,135		61,329		57,482		49,013
Net interest income		61,822		62,357		63,843		67,084
Provision for credit losses		2,700		1,500		3,000		1,000
Total other income		4,209		3,562		3,438		2,792
Other expenses		37,845		35,784		35,450		34,870
Income before income taxes		25,486		28,635		28,831		34,006
Income tax expense		6,213		7,228		7,437		9,077
Net income		19,273		21,407		21,394		24,929
Preferred dividends		1,509		1,509		1,509		1,509
Net income available to common stockholders	$	17,764	$	19,898	$	19,885	$	23,420
Earnings per share:
Basic	$	0.46	$	0.51	$	0.51	$	0.60
Diluted		0.46		0.51		0.51		0.59

	2022
	4th Quarter		3rd Quarter		2nd Quarter		1st Quarter
	(dollars in thousands, except per share data)
Total interest income	$	112,469	$	96,980	$	85,356	$	78,941
Total interest expense		34,460		18,819		9,765		8,583
Net interest income		78,009		78,161		75,591		70,358
Provision for credit losses		3,300		10,000		3,000		1,450
Total other income, net of securities gains		3,508		3,322		3,359		3,054
Other expenses		33,312		32,143		31,703		29,230
Income before income taxes		44,905		39,340		44,247		42,732
Income tax expense		12,348		10,425		11,889		11,351
Net income		32,557		28,915		32,358		31,381
Preferred dividends		1,510		1,509		1,509		1,509
Net income available to common stockholders	$	31,047	$	27,406	$	30,849	$	29,872
Earnings per share:
Basic	$	0.79	$	0.70	$	0.78	$	0.76
Diluted		0.79		0.70		0.78		0.75

Note: Due to rounding, quarterly earnings per share for 2022 do not sum to reported annual earnings per share.