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ConnectOne Bancorp Inc, headquartered in Englewood Cliffs, New Jersey, serves the New York Metropolitan and South Florida areas with a wide range of commercial banking services. Catering to small and mid-sized businesses, professionals, and individuals, it offers checking and savings accounts, credit cards, online and mobile banking, and more. The company specializes in various loans including commercial, residential mortgages, and consumer loans. Originally named Center Bancorp, Inc., it rebranded to ConnectOne Bancorp, Inc. in 2014, continuing its commitment to providing personalized banking solutions.
ConnectOne Bancorp posted its seventh straight quarter of net interest margin expansion to 3.42%, but a $13.8 million charge-off in NYC rent-stabilized multifamily loans pushed nonperforming assets to 0.55% of total assets, exposing the real estate stress that regional lenders face even as deposit costs fall and core loans grow 5% annualized.
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