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Note 2 - Business Combination (Tables) | 6 Months Ended
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Jun. 30, 2025
Notes Tables |
Business Combination [Table Text Block] |
|  | As of |
|  | June 1, 2025 |
Purchase Price Consideration |  |  |  |
FLIC common shares settled for stock |  |  | 22,783,572 |
Exchange Ratio |  |  | 0.5175 |
ConnectOne shares entitlement |  |  | 11,790,499 |
Fractional shares subject to cash in lieu |  |  | (383 | )
ConnectOne whole shares issued |  |  | 11,790,116 |
Price per share of ConnectOne common stock on June 1, 2025 |  | $ | 22.97 |
Total fair value of stock consideration issued |  | $ | 270,818,953 |
Cash consideration paid |  |  | 8,727 |
Total purchase price consideration |  | $ | 270,827,680 |
|  | As of |
|  | June 1, 2025 |
|  | (in thousands) |
Total purchase price consideration |  | $ | 270,828 |
Fair Value of Assets Acquired: |  |  |  |
Cash and cash equivalents |  |  | 54,869 |
Securities available-for-sale |  |  | 596,702 |
Loans receivables, net |  |  | 2,882,951 |
Restricted stock, at cost |  |  | 24,276 |
Premises and equipment, net |  |  | 45,895 |
Bank-owned life insurance |  |  | 118,098 |
Pension plan assets |  |  | 11,617 |
Core deposit intangible |  |  | 63,206 |
Other assets |  |  | 107,480 |
Total assets acquired |  | $ | 3,905,094 |
Fair Value of Liabilities Assumed: |  |  |  |
Deposits |  |  | 3,251,147 |
Borrowings |  |  | 360,405 |
Other liabilities |  |  | 29,953 |
Total liabilities assumed |  | $ | 3,641,505 |
Net assets acquired |  | $ | 263,589 |
Goodwill recorded in acquisition |  | $ | 7,239 |
Schedule of Receivables Acquired [Table Text Block] |
|  |  |  |  |  |  |  |  |  | Gross-up for PCD |  |  |  |  |
|  | Unpaid Principal |  |  | Total Discount at |  |  | Allowance for Credit |  |  | Fair Value of PCD |
(dollars in thousands) |  | Balance |  |  | Acquisition |  |  | Losses at Acquisition |  |  | Loans at Acquisition |
PCD Accruing |  | $ | 255,152 |  |  | $ | (32,570 | ) |  | $ | (38,231 | ) |  | $ | 184,351 |
PCD Nonaccrual |  |  | 16,752 |  |  |  | (1,824 | ) |  |  | (5,105 | ) |  |  | 9,823 |
Total PCD Loans |  | $ | 271,904 |  |  | $ | (34,394 | ) |  | $ | (43,336 | ) |  | $ | 194,174 |
Business Combination, Pro Forma Information [Table Text Block] |
|  | Six Months Ended June 30, |
(in thousands) |  | 2025 |  |  | 2024 |
Net interest income |  | $ | 191,544 |  |  | $ | 175,060 |
Net income |  | $ | 60,686 |  |  | $ | 33,666 |

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