Exhibit 99.1

CONNECTONE BANCORP, INC.

REPORTS FIRST QUARTER 2026 RESULTS

NET INTEREST MARGIN WIDENS BY 12 BASIS POINTS; TREND CONFIRMED

10% ANNUALIZED LOAN GROWTH

OPERATING PERFORMANCE ACCELERATES

TANGIBLE BOOK VALUE PER SHARE INCREASES

8.3% INCREASE IN COMMON DIVIDEND PER SHARE DECLARED

Englewood Cliffs, N.J., April 23, 2026 (GLOBE NEWSWIRE) – ConnectOne Bancorp, Inc. (Nasdaq: CNOB) (the “Company” or “ConnectOne”), parent company of ConnectOne Bank (the “Bank”), today reported net income available to common stockholders of $36.3 million for the first quarter of 2026 compared with $38.0 million for the fourth quarter of 2025 and $18.7 million for the first quarter of 2025.  Diluted earnings per share were $0.72 for the first quarter of 2026 compared with $0.75 for the fourth quarter of 2025 and $0.49 for the first quarter of 2025.  Return on average assets was 1.10%, 1.12% and 0.84% for the three months ended March 31, 2026, December 31, 2025 and March 31, 2025, respectively. Return on average tangible common equity was 12.89%, 13.66% and 8.25% for the three months ended March 31, 2026, December 31, 2025 and March 31, 2025, respectively.

Pre-provision net operating revenue ("Operating PPNR") as a percentage of average assets was 1.81%, 1.75% and 1.34% for the quarters ending March 31, 2026, December 31, 2025 and March 31, 2025, respectively. The sequential increase in Operating PPNR was primarily due to a $2.2 million increase in net interest income, partially offset by a $0.9 million increase in operating expenses. Operating net income available to common stockholders was $39.6 million for the first quarter of 2026, $42.0 million for the fourth quarter of 2025 and $19.7 million for the first quarter of 2025.  Operating diluted earnings per share were $0.79 for the first quarter of 2026, $0.83 for the fourth quarter of 2025 and $0.51 for the first quarter of 2025.  Operating return on average assets was 1.19%, 1.24% and 0.88% for the three months ended March 31, 2026, December 31, 2025 and March 31, 2025, respectively.  Operating return on average tangible common equity was 13.35%, 14.27% and 8.59% for the three months ended March 31, 2026, December 31, 2025 and March 31, 2025, respectively. See supplemental tables for a complete reconciliation of GAAP earnings to operating earnings, and other non-GAAP measures.

The decrease in net income available to common stockholders during the first quarter of 2026 when compared to the fourth quarter of 2025 was primarily due to a $2.9 million increase in the provision for credit losses, a  $0.9 million increase in noninterest expenses and a $0.9 million increase in income tax expense, which were partially offset by a $2.2 million increase in net interest income and a $0.8 million increase in noninterest income.  The first quarter of 2026 included restructuring charges related to the merger with the First of Long Island Corporation ("FLIC") of $2.0 million reflecting our ongoing commitment to streamlining operations and enhancing organizational efficiency.  The increase in net income available to common stockholders and diluted earnings per share during the first quarter of 2026 when compared to the first quarter of 2025 was primarily due to a $43.0 million increase in net interest income and a $2.3 million increase in noninterest income, which was partially offset by an increase in noninterest expense of $18.6 million and an increase in income tax expense of $7.5 million.  The variances from the first quarter of 2026 to the first quarter of 2025 were primarily due to the merger with FLIC.

"ConnectOne began 2026 with robust momentum, positioning us for what we expect to be a strong year," commented Frank Sorrentino, ConnectOne's Chairman and Chief Executive Officer. "Loans and deposits both grew sequentially at an annualized rate of approximately 10%, while our net interest margin expanded by 12 basis points.  Accelerating portfolio loan yields are expected to support continued net interest margin expansion in the quarters ahead, even without further rate cuts."

"Expenses remain well-controlled as we continue to leverage merger synergies and drive additional productivity gains through increasing use of AI workflow across the organization." Mr. Sorrentino added, "During the first quarter, our strong retained earnings supported loan growth, share repurchases, and a 1.7% increase in tangible book value per share;  we are now approximately one quarter away from returning to our pre-merger tangible book value per share of $24.16."

"Our credit quality remained solid this quarter.  Although 30-59 day delinquencies increased due to one isolated credit relationship, net charge-offs (excluding PCD loans) declined to just 8 basis points annualized, a recent low. The nonaccrual loan ratio also decreased, while criticized and classified asset metrics remained at historically low levels, underscoring our continued portfolio management strength."

"Subsequent to quarter-end, noninterest income continued to build momentum, driven by accelerating SBA loan sale activity.  We generated an additional $1.1 million in gains in April, and the pipeline remains robust."  Mr. Sorrentino concluded, "Looking ahead to the remainder of the year, we're executing against our strategic priorities and remain well positioned to deliver long-term value for our shareholders in 2026 and beyond."

Dividend Declarations

The Company announced that its Board of Directors declared an increased quarterly cash dividend on its common stock and declared a cash dividend on its outstanding preferred stock.  A cash dividend on common stock of $0.195 per share, reflecting an increase of $0.015, or 8.3%, will be paid on June 1, 2026, to common stockholders of record on May 15, 2026.  A dividend of $0.328125 per depositary share, representing a 1/40th interest in a share of the Company’s 5.25% Fixed Rate Reset Non-Cumulative Perpetual Preferred Stock, Series A, will also be paid on June 1, 2026 to holders of record on May 15, 2026.

Operating Results

Fully taxable equivalent net interest income for the first quarter of 2026 was $110.0 million, an increase of $2.2 million, or 2.1%, from the fourth quarter of 2025, largely due to a 12 basis-point widening of the net interest margin to 3.39% from 3.27%.  The margin benefited from an increase in the yield on interest-earning assets, primarily due to loan repricing, combined with a 12 basis-point decrease in the average costs of deposits, including noninterest-bearing deposits, and partially offset by an increased cost in borrowed funds.  

Fully taxable equivalent net interest income for the first quarter of 2026 increased $43.4 million, or 65.2%, from the first quarter of 2025, due to a 46 basis-point widening of the net interest margin to 3.39% from 2.93%, and a 42.7% increase in average interest-earning assets.  The increase in average interest-earning assets was primarily due to the merger with FLIC.  The margin benefited from a 20 basis-point increase in the yield on interest-earning assets and a 49 basis-point decrease in the average costs of deposits, including noninterest-bearing deposits.

Noninterest income was $6.8 million in the first quarter of 2026, $6.0 million in the fourth quarter of 2025 and $4.5 million in the first quarter of 2025. The increase compared to the fourth quarter of 2025 was primarily due to a $1.0 million increase in net gains (losses) on equity securities.  The increase compared to the first quarter of 2025 was primarily due to a $1.4 million increase in BOLI income and a $1.3 million increase in deposit, loan and other income, which was partially offset by a $0.4 million decrease in net gains (losses) on equity securities. The year-over-year increases in BOLI income and deposit, loan and other income were primarily due to the merger with FLIC. Extending this positive momentum into the second quarter, the Company realized an additional $1.1 million in SBA loan sale gains in April 2026.

Noninterest expenses were $57.9 million for the first quarter of 2026, $56.9 million for the fourth quarter of 2025 and $39.3 million for the first quarter of 2025. Excluding merger expenses and restructuring charges and branch closing expenses, noninterest expenses totaled $55.7 million in the first quarter of 2026, $55.2 million in the fourth quarter of 2025 and $38.0 million in the first quarter of 2025.  The increase of $0.6 million during the first quarter of 2026 when compared to the fourth quarter of 2025 was primarily due to a $1.6 million increase in salaries and employee benefits, which was partially offset by a $0.4 million decrease in FDIC insurance expense and a $0.4 million decrease in amortization of core deposit intangible.  The $17.8 million increase in noninterest expenses for the first quarter of 2026 when compared to the first quarter of 2025 was primarily due to a $10.2 million increase in salaries and employee benefits, a $2.7 million increase in occupancy and equipment expenses, a $2.6 million increase in amortization of core deposit intangibles, a $0.8 million increase in other expenses, a $0.7 million increase in professional and consulting expense, and a $0.6 million increase in information technology and communication expenses.  The variances from the first quarter of 2026 to the first quarter of 2025 were primarily due to the merger with FLIC.

Income tax expense was $14.7 million for the first quarter of 2026, $13.9 million for the fourth quarter of 2025 and $7.2 million for the first quarter of 2025. The effective tax rates were 28.0%, 26.0% and 26.1% for the first quarter of 2026, fourth quarter of 2025 and first quarter of 2025, respectively. The increase in effective rates when compared to 2025 was primarily due to state and local apportionment factors associated with the FLIC merger. 

Asset Quality

The provision for credit losses was $5.2 million for the first quarter of 2026, $2.3 million for the fourth quarter of 2025 and $3.5 million for the first quarter of 2025. In each of the quarters presented, the provision for credit losses reflected net portfolio growth, charges related to individually evaluated loans, and changing macroeconomic forecasts and conditions.  The current quarter's provision was driven by higher loan growth and increased qualitative factors, which were partially offset by improved loss drivers within our quantitative CECL model reflecting improved economic forecasts.

Nonperforming assets, which includes nonaccrual loans and other real estate owned (the Bank had no other real estate owned during the periods reported), were $41.6 million as of March 31, 2026, $45.9 million as of December 31, 2025 and $49.9 million as of March 31, 2025.  Nonperforming assets as a percentage of total assets improved to 0.29% as of March 31, 2026, versus 0.33% as of December 31, 2025 and 0.51% as of March 31, 2025. The ratio of nonaccrual loans to loans receivable also improved to 0.35%, as of March 31, 2026, versus 0.40% and 0.61%, at December 31, 2025 and March 31, 2025, respectively.  The annualized net loan charge-offs ratio (excluding PCD loans) was 0.08% for the first quarter of 2026, 0.17% for the fourth quarter of 2025 and 0.17% for the first quarter of 2025.

The allowance for credit losses ("ACL") represented 1.30%, 1.35% and 1.00% of loans receivable as of March 31, 2026, December 31, 2025 and March 31, 2025, respectively.  The ACL decreased $1.2 million to $153.1 million as of March 31, 2026, compared to $154.3 million as of December 31, 2025. The ACL as a percentage of nonaccrual loans was 368.1% as of March 31, 2026, 336.1% as of December 31, 2025 and 165.3% as of March 31, 2025. 

Criticized and classified loans as a percentage of loans receivable improved to 2.26% as of March 31, 2026, down from 2.49% as of December 31, 2025 and from 2.79% as of March 31, 2025.  Loans past due 30-59 days were 0.81% of loans receivable as of March 31, 2026, 0.19% as of December 31, 2025 and 0.18% as of March 31, 2025. This rise is predominantly due to an interrelated series of credits totaling $63.8 million secured by 19 multifamily NYC rent-regulated properties. We are working with our client to resolve these credits; however, the resulting financial impact cannot be determined at this time.

The Bank maintains a solid reserve position, particularly within its rent-regulated multifamily portfolio, which includes significant credit and fair value marks applicable to the portfolio acquired from FLIC, in addition to qualitative ACL allocations applicable to its legacy portfolio. The following table provides additional information on the Bank's New York City ("NYC") rent-regulated portfolio as of March 31, 2026:

Selected Balance Sheet Items

The Company’s total assets were $14.2 billion as of March 31, 2026, compared to $14.0 billion as of December 31, 2025.  Loans receivable were $11.7 billion as of March 31, 2026 and $11.5 billion as of December 31, 2025.  Total deposits were $11.5 billion as of March 31, 2026 and $11.2 billion as of December 31, 2025.  

The Company’s total stockholders’ equity increased to $1.592 billion as of March 31, 2026 from $1.573 billion as of December 31, 2025.  Retained earnings increased $27.3 million, partially offset by an increase in the accumulated other comprehensive loss of $6.2 million. As of March 31, 2026, the Company’s tangible common equity ratio and tangible book value per share were 8.64% and $23.93, respectively, compared to 8.62% and $23.52, respectively, as of December 31, 2025.  Total goodwill and other intangible assets were $277.3 million as of March 31, 2026, and $280.2 million as of December 31, 2025.

Share Repurchase Program

During the first quarter of 2026, the Company repurchased 90,000 shares of common stock at an average price of $26.21, leaving 551,118 shares authorized for repurchase under the current Board approved repurchase program.  The Company may repurchase shares from time to time in the open market, in privately negotiated stock purchases or pursuant to any trading plan that may be adopted in accordance with Rule 10b5-1 of the Securities and Exchange Commission and applicable federal securities laws. The share repurchase plan does not obligate the Company to acquire any particular amount of common stock and the plan may be modified or suspended at any time at the Company's discretion.

Use of Non-GAAP Financial Measures

In addition to the results presented in accordance with Generally Accepted Accounting Principles ("GAAP"), ConnectOne routinely supplements its evaluation with an analysis of certain non-GAAP measures.  ConnectOne believes these non-GAAP financial measures, in addition to the related GAAP measures, provide meaningful information to investors in understanding our operating performance and trends.  These non-GAAP measures have inherent limitations and are not required to be uniformly applied and are not audited.  They should not be considered in isolation or as a substitute for an analysis of results reported under GAAP.  These non-GAAP measures may not be comparable to similarly titled measures reported by other companies.  Reconciliations of non-GAAP financial measures disclosed in this earnings release to the comparable GAAP measures are provided in the accompanying tables.

First Quarter 2026 Results Conference Call

Management will also host a conference call and audio webcast at 10:00 a.m. ET on April 23, 2026, to review the Company's financial performance and operating results.  The conference call dial-in number is 1 (646) 307-1963, access code 8368502.  Please dial in at least five minutes before the start of the call to register.  An audio webcast of the conference call will be available to the public, on a listen-only basis, via the "Investor Relations" link on the Company's website https://www.ConnectOneBank.com or at http://ir.connectonebank.com.

A replay of the conference call will be available beginning at approximately 1:00 p.m. ET on Thursday, April 23, 2026 and ending on Thursday, April 30, 2026, by dialing 1 (609) 800-9909, access code 8368502. An online archive of the webcast will be available following the completion of the conference call at https://www.ConnectOneBank.com or at http://ir.connectonebank.com.

About ConnectOne Bancorp, Inc.

ConnectOne Bancorp, Inc., is a modern financial services company that operates, through its subsidiary, ConnectOne Bank, and the Bank’s fintech subsidiary, BoeFly, Inc. ConnectOne Bank is a high-performing commercial bank offering a full suite of banking & lending products and services that focus on small to middle-market businesses.  BoeFly, Inc. is a fintech marketplace that connects borrowers in the franchise space with funding solutions through a network of partner banks. ConnectOne Bancorp, Inc. is traded on the Nasdaq Global Market under the trading symbol "CNOB," and information about ConnectOne may be found at https://www.connectonebank.com.

This news release contains certain forward-looking statements which are based on certain assumptions and describe future plans, strategies, and expectations of the Company.  These forward-looking statements are generally identified by use of the words "believe," "expect," "intend," "anticipate," "estimate," "project," or similar expressions.  The Company's ability to predict results or the actual effect of future plans or strategies is inherently uncertain.  Factors which could have a material adverse effect on the operations of the Company and its subsidiaries include, but are not limited to, those factors set forth in Item 1A – Risk Factors of the Company’s Annual Report on Form 10-K, as filed with the U.S. Securities and Exchange Commission, as supplemented by the Company’s subsequent filings with the U.S. Securities and Exchange Commission, and changes in interest rates, general economic conditions, legislative/regulatory changes, monetary and fiscal policies of the U.S. Government, including policies of the U.S. Treasury and the Federal Reserve Board, the quality or composition of the loan or investment portfolios, demand for loan products, deposit flows, competition, demand for financial services in the Company's market area, changes in accounting principles and guidelines and the impact of the health emergencies and natural disasters on the Company, its employees and operations, and its customers.  These risks and uncertainties should be considered in evaluating forward-looking statements and undue reliance should not be placed on such statements.  The Company does not undertake, and specifically disclaims any obligation, to publicly release the result of any revisions which may be made to any forward-looking statements to reflect events or circumstances after the date of such statements or to reflect the occurrence of anticipated or unanticipated events.

Investor Contact:

William S. Burns

Senior Executive Vice President & CFO

201.816.4474; bill.burns@cnob.com

Media Contact:

Shannan Weeks 

MikeWorldWide

732.299.7890; sweeks@mww.com

ConnectOne's management believes that the supplemental financial information, including non-GAAP measures provided below, is useful to investors. The non-GAAP measures should not be viewed as a substitute for financial results determined in accordance with GAAP, and are not necessarily comparable to non-GAAP financial measures presented by other companies.