ConnectOne Bancorp, Inc. filed its Form 10-Q for the quarterly period ended September 30, 2026 with the Securities and Exchange Commission on October 30, 2026, reporting net income of $31.4 million for the third quarter and disclosing a sharp increase in loans held-for-sale tied to a commercial real estate restructuring.

Key Highlights

  • Loans held-for-sale: Jumped to $678,880 thousand as of September 30, 2026, compared with $391 thousand as of December 31, 2025, according to the filing.
  • CRE restructuring loss: The company reported a loss on sale of loans held-for-sale related to CRE restructuring of $23,025 thousand for both the three and nine months ended September 30, 2026.
  • Q3 2026 net income: Net income was $31,399 thousand for the three months ended September 30, 2026, compared with $40,976 thousand for the same period in 2025.
  • Nine-month net income: Net income for the nine months ended September 30, 2026 was $110,889 thousand, versus $40,925 thousand for the nine months ended September 30, 2025.
  • Total assets: Grew to $14,778,705 thousand as of September 30, 2026, up from $14,002,700 thousand as of December 31, 2025.
  • Diluted EPS: Diluted earnings per common share were $0.59 for Q3 2026 and $2.10 for the nine months ended September 30, 2026, the filing stated.
  • Shares outstanding: Common shares outstanding were 50,268,879 as of October 30, 2026.

ConnectOne Bancorp Reports CRE Restructuring Charge and Rising Asset Base in Third Quarter 2026

ConnectOne Bancorp, Inc. (NASDAQ:CNOB), a New Jersey-based bank holding company headquartered in Englewood Cliffs, disclosed its unaudited financial results for the quarter ended September 30, 2026. According to the filing, total assets reached $14,778,705 thousand, an increase from $14,002,700 thousand at December 31, 2025. Total deposits grew to $11,778,342 thousand from $11,240,615 thousand over the same interval, the registrant reported.

A prominent item in the quarter was a loss on sale of loans held-for-sale related to CRE restructuring of $23,025 thousand, which the filing categorized under noninterest income for both the three- and nine-month periods ended September 30, 2026. The company also reported a corresponding surge in loans held-for-sale to $678,880 thousand as of September 30, 2026, compared with just $391 thousand at December 31, 2025. Total noninterest income for Q3 2026 was a loss of $14,498 thousand, compared with income of $19,409 thousand in Q3 2025, driven largely by that CRE restructuring charge.

Net interest income for the three months ended September 30, 2026 was $117,298 thousand, up from $102,017 thousand in the comparable prior-year quarter. The provision for credit losses was $5,000 thousand in Q3 2026, versus $5,500 thousand in Q3 2025. For the nine months ended September 30, 2026, total noninterest expenses were $168,654 thousand compared with $171,627 thousand for the same period in 2025. The allowance for credit losses on loans declined to $120,620 thousand from $154,305 thousand at December 31, 2025, according to the consolidated statements of financial condition. Accumulated other comprehensive loss widened to $82,858 thousand from $31,896 thousand at year-end 2025, reflecting unrealized losses on available-for-sale securities, the filing disclosed.

What Was Disclosed

ConnectOne Bancorp filed its quarterly report for the period ended September 30, 2026, disclosing Q3 net income of $31,399 thousand, a $23,025 thousand CRE-related loan sale loss, total assets of $14,778,705 thousand, and 50,268,879 common shares outstanding as of October 30, 2026.