ConnectOne Bank

Headquarters

301 Sylvan Ave
Englewood Cliffs, NJ 07632
See all branch locations →

ACH 021213944

Notable Rates APY Vs.Others
Savings 5.00% 5.50% →
1-Year CD N.A. 5.50% →
2-Year CD N.A. 5.00% →
5-Year CD N.A. 4.61% →
30-Year Mortgage 7.19% 0.00% →
15-Year Mortgage 6.85% 0.00% →
HELOC N.A. 0.99% →

2024 Overview

General Bank Information

ConnectOne Bank is an FDIC insured institution located in Englewood Cliffs, NJ. It was founded in 2005 and has approximately $9.67 billion in assets. Customers can open an account at one of its 23 branches.

FDIC Insured Yes
FDIC Certificate # 57919
Date Established 2005
Assets $ 9.67 billion
Loans $ 8.09 billion
Deposits $ 7.47 billion
Capital $ 1,227.90 million
 

For a more detailed analysis of ConnectOne Bank's financial condition and a description of what these numbers mean, please visit the Financial Details section.

Deposit Rates - March 3, 2024

Your Current Location: Virginia, VA 20146

Savings and Money Market Rates APY MIN MAX
ConnectionPlus Savings
4.60% $2,500 $249,999 Learn More
ConnectionPlus Savings
5.00% $250,000 - Learn More
CD Rates APY MIN MAX
7 Month Online CD
3.80% $500 - Learn More
11 Month CD
5.40% $500 - Learn More
13 Month CD
5.00% $500 - Learn More
23 Month CD
3.60% $500 - Learn More

Bank Offers

ConnectOne Bank Lowers Its Online Savings Rate to 0.65% APY
Dec 19, 2020

The rate was lowered from 0.70% APY on Friday, December 18.


ConnectOne Bank Raises Its Online Savings Rate Back to 0.65%
Nov 18, 2021

The bank had lowered its rate from 0.65% to 0.60% last month, and has now brought it back to 0.65%.

The rate, which is good for balances from $2,500 to $250,000, is the highest nationally available online rate for balances under $100,000 at the moment.


 

Loan Rates - March 3, 2024

Your Current Location: Virginia, VA 20146

Refinance Mortgage Rates APR Rate Monthly Payment
Purchase Mortgage Rates APR Rate Monthly Payment

Monthly payments for mortgage products are based on a loan amount of $200,000. Home equity monthly payments are based on a loan amount of $50,000. Auto loan monthly payments are based on a loan amount of $25,000. Rates for each product are based on a variety of factors including credit score and loan amount. For specific requirements please check with the lender. Rates may change at any time.

Branches

ConnectOne Bank branches and locations in your neighborhood. Input a different zip code to find branches and locations for any neighborhood in the United States.

Your Location:
Ashburn,Virginia


ConnectOne Bank Locations



Climate Initiatives

ConnectOne Bank is encouraged to provide us with this information. When we receive this information from the bank, we will provide it here.

Financial Details

ConnectOne Bank Ratio Analysis

The following ratios and data are available to help you better understand the financial condition of ConnectOne Bank. The data is provided by the FDIC. All banks listed on BestCashCow.com are FDIC-insured. No depositor has ever lost deposits that have been within the FDIC insurance limits.

Texas Ratio
ConnectOne Bank U.S. Bank Average
4.26% 4.13%

The Texas Ratio compares the bank’s non performing assets (non-performing loans and real estate owned) with its tangible common equity and its loan loss reserves. A lower Texas ratio indicates better coverage of problem loans. The closer the Texas Ratio is to 1-to-1 or 100%, the less capital and reserves a bank has to absorb its loan losses.

As of September 30, 2023, ConnectOne Bank had $56,059,000 in non-current loans and $0 in owned real estate. To cover these potential losses it had $1,227,904,000 in equity and $88,230,000 in loans loss reserves. That gives it a Texas Ratio of 4.26%.

Return on Equity
ConnectOne Bank U.S. Bank Average
7.92% 26.02%

ConnectOne Bank has a Return on Equity of 7.92% versus the BestCashCow average of 26.02%. Return on equity measures how efficiently a bank is making money from its capital. A bank with a consistently high ROE can be considered well run. A bank with a consistently low ROE can be considered poorly run.

Capitalization
ConnectOne Bank U.S. Bank Average
12.7% 10.23%

ConnectOne Bank has a Capitalization of 12.7% versus the BestCashCow average of 10.23. Capitalization measures how much equity capital a bank has to underpin loans and other assets on its balance sheet. The higher the capitalization number the more secure a bank is considered.

ConnectOne Bank Balance Sheet Analysis

As of September 30, 2023, ConnectOne Bank had assets of $9,672,207,000, loans of $8,092,878,000, and deposits of $7,472,873,000. Long-term increases in deposits shows a bank's ability to raise funds to grow its loans and assets. Loan and asset growth may rise or fall depending on a bank's strategy for growth. Sharp rises and falls in assets, deposits, and loans can be problematic, indicating a loosening of lending standards, or financial distress leading to reduced lending. A big change in these figured can also be from a bank acquisition or merger.

Summary Balance Sheet

September 30, 2023
ASSETS
Cash & Balances due from depository institutions $ 253.30 million
Interest-bearing balances $ 197.13 million
Total securities $ 593.02 million
Federal funds sold and reverse repurchase N.A.
Net loans and leases $ 8.09 billion
Loan loss allowance $ 88.23 million
Trading account assets N.A.
Bank premises and fixed assets N.A.
Other real estate owned N.A.
Goodwill and other intangibles $ 214.59 million
All other assets $ 411.75 million
     Total Assets $ 8.44 billion
LIABILITIES
Total deposits $ 7.47 billion
      Interest-bearing deposits $ 6.21 billion
      Deposits held in domestic offices $ 7.47 billion
      % insured (estimated) 44.72%
Federal funds purchased and repurchase agreements N.A.
Trading liabilities N.A.
Other borrowed funds $ 876.80 million
Subordinated debt N.A.
All other liabilities $ 49.76 million
      Total Liabilities $ 8.44 billion
      Shareholders’ Equity $ 1,227.90 million

Summary Income Statement

September 30, 2023
INCOME AND EXPENSES
Total Interest Income $ 361.11 million
Total Interest Expense $ 163.97 million
Net interest income $ 197.14 million
Provision for loan and lease losses $ 5.50 million
Total non interest income $ 10.47 million
Total non interest expense $ 106.02 million
Pre-tax Net Operating Income $ 91.62 million

Bank Loan Profile?

The top three loan types in ConnectOne Bank’s loan portfolio are Multifamily Mortgages, Commercial Real Estate, and Commercial and Industrial Loans.

Compared to other banks in New Jersey, ConnectOne Bank has a significantly higher percent of Multifamily Mortgages on its balance sheet, potentially indicating a specialty in that lending area.

Note: Percentages may not sum to 100% due to rounding and double categorization of some loan types. All data from the FDIC. Additional information about this table.

%
Loans
%
Comparison to Other Banks
 Low   Med   High 
1-4 Family Residential Loans 7.28
Multifamily
Mortgages
30.18
Credit Card Loans 0.00
Consumer Auto Loans 0.00
Small Business Loans 2.96
Construction and Development Loans 8.94
Commercial Real Estate 29.67
Commercial and Industrial Loans 11.20
Farm Loans 0.00

Customer Reviews for ConnectOne Bank (21)


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  • April 30, 2022 |

    Online Savings Rates

    Customer service is actually pretty helpful if you can ever reach anyone.

  • December 28, 2021 |

    Online Savings Rates

    It was not the easiest set up but I am glad I have enjoyed making much more on my online savings account through this bank this past year.

  • November 15, 2021 |

    Online Savings Rates

    Was rejected for online account with 800 credit score and I live down the street in New Jersey (Edgewater).


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