CNOB · CONNECTONE BANCO Q2 FY2026 earnings call record财报电话会记录

“That's up more than 10% sequentially from the first quarter's $36.3 million, or $0.72 per share.”

“Operating PPNR improved to 1.94%, up from 1.81% a quarter ago and 1.52% a year ago.”

“This was a 3-basis-point sequential increase building on the 12-basis-point widening we reported last quarter and 16 basis points of widening two quarters ago.”

“Notwithstanding what I just laid out, I'm going to be conservative here by maintaining our previous quarter's guidance of year-end spot margin of 3.50%, as deposit costs, not unexpectedly, have begun to rise, partially offsetting the improvements from loan repricing.”

“Still, all trends point to wider margins for the rest of 2026 and continuing into 2027.”

“Client deposits, that's total deposits less broker, grew 8% annualized on a point-to-point basis, driven by non-interest-bearing demand deposit growth of 20% annualized.”

“This quarter, on that relationship, we received debt service payments on a sizable portion, bringing $20 million of the exposure current, while the remaining $44 million was transferred to non-accrual status, followed by a $13.8 million charge-off based on conservative valuations.”

“In terms of the earnings impact, the $13.8 million charge-off was partially offset by a $9.2 million release of reserves previously allocated to the rent-stabilized subsegment, including this specific relationship.”

“Year-to-date, we repurchased 90,000 shares at an average price of $26.21.”

“Although we did not repurchase any shares during the second quarter, we have 550,000 shares remaining under our current authorization, and we will continue to repurchase shares opportunistically.”

“With our strong and growing earnings and our current dividend payout ratio sitting in the mid-20% range, we continue to maintain flexibility with regard to dividends and share repurchases.”

“Just thinking as we start to roll some of these into 2028, I'm curious about what the impacts are.”