Form 4: ConnectOne Bancorp Director Acquires Over 54,000 Shares Following First of Long Island Corp. Merger

ConnectOne Bancorp, Inc. Director Christopher Becker has reported the acquisition of 54,627 shares of CNOB common stock as a result of the merger with First of Long Island Corp.

Summary

• ConnectOne Bancorp, Inc. (CNOB) Director Christopher Becker filed a Form 4, reporting changes in his beneficial ownership of CNOB common stock.
• The transactions occurred on June 1, 2025, and are related to the merger of First of Long Island Corp. (FLIC) into ConnectOne Bancorp, Inc.
• Mr. Becker directly acquired 51,219 shares of CNOB common stock in exchange for 98,974 shares of FLIC common stock.
• An additional 3,408 shares of CNOB common stock were indirectly acquired via an IRA, in exchange for 6,587 shares of FLIC common stock.
• On the effective date of the merger, FLIC's common stock closed at $11.87 per share, while CNOB's common stock closed at $22.97 per share.

Sentiment

Score: 7

Explanation: The sentiment is positive as it confirms the completion of a strategic merger and an increase in insider ownership, which generally signals confidence. There are no negative or risk factors mentioned in this specific filing.

Positives

• The completion of the merger between First of Long Island Corp. and ConnectOne Bancorp, Inc. signifies a strategic expansion for CNOB.
• The acquisition of additional shares by a director, even if merger-related, increases insider ownership, which can be viewed positively by investors as alignment of interests.

Future Outlook

This Form 4 filing primarily reports a past transaction related to a merger and does not contain explicit forward-looking statements or guidance regarding the company's future performance or strategic direction.

Management Comments

• The filing indicates that the shares were received in connection with the merger of First of Long Island Corp. into ConnectOne Bancorp, Inc., reflecting the completion of this corporate action.

Industry Context

This transaction is a direct consequence of a merger within the banking sector, indicating ongoing consolidation and strategic alignment among regional financial institutions. Such mergers are common strategies for banks to expand market share, achieve economies of scale, and enhance competitive positioning.

Stakeholder Impact

• Shareholders of First of Long Island Corp. (FLIC) have had their shares converted into ConnectOne Bancorp, Inc. (CNOB) common stock as a result of the merger.
• ConnectOne Bancorp, Inc. shareholders will see the company's equity base and operational scope expand due to the integration of FLIC.

Key Dates

Keywords

ConnectOne Bancorp, CNOB, First of Long Island Corp, FLIC, Merger, Acquisition, Insider Trading, Form 4, Beneficial Ownership, Director Stock Acquisition, Banking Sector