ConnectOne Bancorp, Inc. (NASDAQ:CNOB) Q3 2022 Results Conference Call October 27, 2022 10:00 AM ET

Company Participants

Siya Vansia - Chief Brand and Innovation Officer

Frank Sorrentino - Chairman and CEO

Bill Burns - Sr. EVP and CFO

Conference Call Participants

Michael Perito - KBW

Frank Schiraldi - Piper Sandler

Matthew Breese - Stephens Inc.

Operator

Greetings, and welcome to ConnectOne's Third Quarter 2022 Earnings Call. [Operator Instructions] As a reminder, this conference is being recorded.

I would now like to turn the conference over to your host, Siya Vansia, Chief Brand and Innovation Officer. Please go ahead.

Siya Vansia

Good morning, and welcome to today's conference call to review ConnectOne's results for the third quarter of 2022 and to update you on recent developments. On today's conference call will be Frank Sorrentino, Chairman and Chief Executive Officer; and Bill Burns, Senior Executive Vice President and Chief Financial Officer. The results as well as notice of this conference call on a listen-only basis over the internet were distributed this morning in a press release that has been covered by the financial media.

At this time, let me remind you that certain statements and assumptions in this conference call contain or are based upon forward-looking information that are being made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements are subject to numerous assumptions, uncertainties and known or unknown risks, which could cause actual results to differ materially from those anticipated.

These risk factors are more fully discussed in the company's filings with the Securities and Exchange Commission. The forward-looking statements included in this conference call are only made as of the date of this call and the company is not obligated to publicly update or revise them. In addition, certain terms used in this call are non-GAAP financial measures, reconciliations of which are provided in the company's earnings release and accompanying tables or schedules, which have been filed today on Form 8-K with the SEC and can also be accessed through the company's website at ir.connectonebank.com. Each listener is encouraged to review those reconciliations provided in the earnings release together with all other information.

I will now turn the call over to Frank Sorrentino. Frank, please go ahead.

Frank Sorrentino

Thank you, Siya, and good morning, everyone. We appreciate you joining us today. By now you've seen our release and the extraordinary organic growth we achieved this quarter on both sides of the balance sheet. Our deposits grew by 10.5%, while our loans grew by 8.5% sequentially. And importantly, average noninterest-bearing deposits increased by nearly 5%. So I'd like to reflect on just how ConnectOne continues to accomplish record levels of organic growth and superior operating metrics.