ConnectOne Bank

Headquarters

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

Notable Rates APY Vs.Others
Savings 0.65% 0.70% →
1-Year CD N.A. 0.75% →
2-Year CD N.A. 0.81% →
5-Year CD N.A. 1.15% →
30-Year Mortgage N.A. 2.72% →
15-Year Mortgage N.A. 2.36% →
HELOC N.A. 2.79% →

2021 Overview

General Bank Information

ConnectOne Bank is an FDIC insured institution located in Englewood Cliffs, NJ. It was founded in 2005 and has approximately $7.45 billion in assets. Customers can open an account at one of its 23 branches.

FDIC Insured Yes
FDIC Certificate # 57919
Date Established 2005
Assets $ 7.45 billion
Loans $ 6.19 billion
Deposits $ 5.89 billion
Capital $ 975.93 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 - January 23, 2021

Your Current Location: Connecticut, CT 06828

Savings and Money Market Rates APY MIN MAX
Online Savings Account
0.65% $2,500 $250,000 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.


 

Loan Rates - January 23, 2021

Your Current Location: Connecticut, CT 06828

There are currently no loan rates available for ConnectOne Bank

Please contact the bank for questions about their loan products. In the meantime you may wish to consider these offerings:




Featured - Connecticut 30 Year Fixed Mortgage Rates 2021

Lender APR Rate (%) Points Fees Monthly
Payment
Learn More
AimLoan.com
NMLS ID: 2890
License#: 13256
2.562% 2.500% 0.75 $2,030 $988 Learn More
Rocket Mortgage
NMLS ID: 3030
3.243% 3.125% 1.00 $3,750 $1,071 Learn More
AmeriSave Mortgage Corporation
NMLS ID: 1168
2.667% 2.625% 0.50 $1,380 $1,005 Learn More

Featured - Connecticut Home Equity Line Of Credit Rates 2021

Lender APR (%)? Monthly Payment? Learn More
Third Federal Savings and Loans
Third Federal Savings and Loans
See Table
2.240 %
$0 Learn More
More Info
People's United Bank, N.A.
People's United Bank, N.A.
See Table
4.000 %
$0 Learn More
More Info

Note to ConnectOne Bank
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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:
Fairfield,Connecticut


ConnectOne Bank Locations


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
7.46% 6.14%

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, 2020, ConnectOne Bank had $78,302,000 in non-current loans and $0 in owned real estate. To cover these potential losses it had $975,928,000 in equity and $74,267,000 in loans loss reserves. That gives it a Texas Ratio of 7.46%.

Return on Equity
ConnectOne Bank U.S. Bank Average
7.39% 9.23%

ConnectOne Bank has a Return on Equity of 7.39% versus the BestCashCow average of 9.23%. 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
13.1% 12.07%

ConnectOne Bank has a Capitalization of 13.1% versus the BestCashCow average of 12.07. 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, 2020, ConnectOne Bank had assets of $7,449,083,000, loans of $6,185,292,000, and deposits of $5,885,073,000. 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, 2020
ASSETS
Cash & Balances due from depository institutions $ 256.27 million
Interest-bearing balances $ 196.85 million
Total securities $ 466.26 million
Federal funds sold and reverse repurchase N.A.
Net loans and leases $ 6.19 billion
Loan loss allowance $ 74.27 million
Trading account assets N.A.
Bank premises and fixed assets N.A.
Other real estate owned N.A.
Goodwill and other intangibles $ 219.98 million
All other assets $ 291.68 million
     Total Assets $ 6.47 billion
LIABILITIES
Total deposits $ 5.89 billion
      Interest-bearing deposits $ 4.53 billion
      Deposits held in domestic offices $ 5.89 billion
      % insured (estimated) 53.08%
Federal funds purchased and repurchase agreements N.A.
Trading liabilities N.A.
Other borrowed funds $ 508.41 million
Subordinated debt $ 32.25 million
All other liabilities $ 47.43 million
      Total Liabilities $ 6.47 billion
      Shareholders’ Equity $ 975.93 million

Summary Income Statement

September 30, 2020
INCOME AND EXPENSES
Total Interest Income $ 232.61 million
Total Interest Expense $ 50.69 million
Net interest income $ 181.92 million
Provision for loan and lease losses $ 36.00 million
Total non interest income $ 10.71 million
Total non interest expense $ 94.60 million
Pre-tax Net Operating Income $ 62.03 million

Bank Loan Profile?

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

Compared to other banks in New Jersey, ConnectOne Bank has a significantly higher percent of Multifamily Mortgages, Construction and Development Loans 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 10.03
Multifamily
Mortgages
26.94
Credit Card Loans 0.01
Consumer Auto Loans 0.00
Small Business Loans 4.32
Construction and Development Loans 12.08
Commercial Real Estate 30.40
Commercial and Industrial Loans 19.43
Farm Loans 0.00

Frequently Asked Questions About Connectone Bank

Branches and Savings

Is Connectone Bank FDIC insured?

Yes. It is covered under FDIC Certificate #57919.

Why does Connectone Bank pay such low interest on savings accounts?

See the best online savings rates here. See the best local savings rates here.

Why are Connectone Bank CD rates not competitive?

See the best online CD rates here. See the best local CD rates here.

Is Connectone Bank a commercial bank?

Yes

Where are Connectone Bank locations?

See branch locations nearby.

Is Connectone Bank open on Saturdays?

Is Connectone Bank open on Sundays?

What time does Connectone Bank open?

What time does Connectone Bank close?

Are Connectone Bank ATMs Open 24/7?

Do Connectone Bank ATMs accept cash deposits?

Can Connectone Bank customers use other ATMs?

Do Connectone Bank branches have notaries?

Will Connectone Bank notarize my document?

What address for Connectone Bank should I put for incoming ACH transfers?

Will the Connectone Bank branch print checks?

Do Connectone Bank checks expire?

Does Connectone Bank require US citizenship to open account?

Can Connectone Bank close my account?

Does Connectone Bank Report to credit bureaus?

Does Connectone Bank Use Equifax?

What is Connectone Bank's ACH Routing Number?

What is Connectone Bank's SWIFT code?

Products

Does Connectone Bank offer mortgages?

Compare mortgage rates here.

Does Connectone Bank offer home equity lines of credit and home equity loans?

Compare home equity lines of credit rates here.

Does Connectone Bank offer personal loans?

Compare personal loan rates here.

Does Connectone Bank offer student loans?

Will Connectone Bank cash a check?

Will Connectone Bank redeem a savings bond?

Does Connectone Bank cash savings bonds?

Will Connectone Bank cash money orders?

Can Connectone Bank issue a money order?

Does Connectone Bank do currency exchange?

Background on The Bank

Who owns Connectone Bank?

How long has Connectone Bank been around?

Can Connectone Bank transfer to other banks?

Does Connectone Bank have quick pay?

Does Connectone Bank accept rolled coins?

Will Connectone Bank accept loose change?

Where is Connectone Bank headquarters?

Customer Reviews for ConnectOne Bank (8)


  • January 05, 2021 |

    Online Savings Rates

    I recommend this bank's online savings account. Easy to use and rate competitive.

  • November 18, 2020 |

    Online Savings Rates

    I live in Tenafly and have been very happy with ConnectOne. They have at least 6 branches near my home and branch managers are always helpful notarizing documents, etc. Especially great that they are now offering a rate that now beats the best online savings rate. I think that they have branches in NY as well, but I am just not sure I would be comfortable working with them if I didn't have access to a branch.

  • November 12, 2020 |

    Online Savings Rates

    All good until you need to withdraw money and then no good.

  • October 22, 2020 |

    Online Savings Rates

    Was rejected for an account from CA. Too bad. - JEFF

  • October 17, 2020

    Online Savings Rates

    I am considering opening an account here, but the reviews on Depositaccounts are lukewarm and all of these reviews suggest some issues with out-of-state accounts. I am in DC and I am not happy with the long, worthless phone calls with TAB. Questioning whether this will be the same or better?

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