Quarterly Report
Filed: 2026-05-05
Key Insights
- ConnectOne completed the acquisition of First of Long Island Corporation in June 2025, which is now reflected in Q1 2026 results as a contributing subsidiary for approximately 7 months of operations.
- Common stock outstanding increased to 54.3 million shares at Q1 2026 from 50.3 million at year-end 2025, reflecting dilution from the acquisition consideration paid in stock.
- The company maintains a strong capital structure with preferred stock of $115 million and adequate liquidity, though integration expenses from the First of Long Island acquisition continue to impact near-term profitability.
- Interest rate swap derivatives totaling $26.161 billion notional value are designated as cash flow hedges, indicating active interest rate risk management in the current rate environment.