ConnectOne Bancorp: Improving Fundamentals Despite CRE Concerns
ConnectOne Bancorp's Q2 results showed a 3.42% net interest margin, a 42.7% efficiency ratio, and growth in deposits and loans. The company is reducing commercial real estate exposure and shifting lending toward business and SBA loans, while its shares trade at discounted valuation multiples amid CRE concerns.
Why it matters — CNOB watchers may note the combination of strong operating metrics and efforts to diversify lending as the bank addresses commercial real estate risk.