ConnectOne Bancorp reports first quarter results

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    Englewood Cliffs-based ConnectOne Bancorp Inc., parent company of ConnectOne Bank, announced Thursday its net income of $2.6 million, or 5o cents per diluted share, for the first quarter of 2014.

    According to the announcement, last year’s net income was $2.3 million, or 56 cents per diluted share.

    Frank Sorrentino III, chairman and CEO of ConnectOne, said in a press release, “We are extremely pleased with our first quarter 2014 financial performance.  During the quarter, the company’s loan portfolio grew by $93.5 million, reflecting a 32 percent annualized growth rate.  Net income, excluding merger-related expenses, increased sequentially, by 15.3 percent over the fourth quarter of 2013.”

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    Emily Bader

    Emily Bader

    Emily Bader is the copy and web editor at NJBIZ. She is a Brielle, N.J. native and a Rutgers University alum. You can contact her at emilyb@njbiz.com or @emilybader on Twitter.

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