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.