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

ConnectOne Bancorp, Inc. Director Edward J. Haye acquired 11,619 shares of common stock on June 1, 2025, as a result of the merger with First of Long Island Corp.

Summary

• Edward J. Haye, a Director of ConnectOne Bancorp, Inc. (CNOB), reported the acquisition of 11,619 shares of CNOB common stock.
• The transaction occurred on June 1, 2025, and was filed on June 2, 2025.
• These shares were received in exchange for 22,454 shares of First of Long Island Corp. (FLIC) common stock.
• The exchange was part of the merger of FLIC into ConnectOne Bancorp, Inc.
• On the effective date of the merger, FLIC's common stock closed at $11.87 per share, and CNOB's common stock closed at $22.97 per share.

Sentiment

Score: 7

Explanation: The sentiment is positive as it reports the completion of a merger, a strategic corporate event, and a director's resulting acquisition of shares in the combined entity, indicating continued alignment with shareholder interests.

Positives

• The completion of the merger between First of Long Island Corp. and ConnectOne Bancorp, Inc. signifies strategic growth and consolidation.
• A director acquiring shares, even through a merger exchange, can be viewed as a sign of confidence in the combined entity's future prospects.

Future Outlook

The document is an insider transaction report (Form 4) and does not provide forward-looking statements or guidance regarding the company's future outlook beyond the completion of the merger.

Industry Context

This transaction reflects the ongoing consolidation trend within the regional banking and financial services sector, where mergers and acquisitions are common strategies for growth, market expansion, and efficiency gains.

Stakeholder Impact

• Shareholders of First of Long Island Corp. (FLIC) have had their shares converted into ConnectOne Bancorp, Inc. (CNOB) shares as a result of the merger.
• Shareholders of ConnectOne Bancorp, Inc. (CNOB) see a director increasing their beneficial ownership in the company, which can be interpreted as a positive signal of management confidence.

Key Dates

Keywords

ConnectOne Bancorp, CNOB, First of Long Island Corp., FLIC, Merger, Acquisition, Insider Transaction, Form 4, Beneficial Ownership, Edward J. Haye, Banking, Financial Services