ENGLEWOOD CLIFFS, N.J., (GLOBE NEWSWIRE) -- ConnectOne Bancorp, Inc. (Nasdaq: “CNOB”), the holding company for ConnectOne Bank, today announced the pricing of its public offering of $75 million aggregate principal amount of 5.750% Fixed-to-Floating Rate Subordinated Notes due 2030. The price to the public for the Notes was 100% of the principal amount of the Notes. Interest on the Notes will accrue at a rate equal to (i) 5.750% per annum from the original issue date to, but excluding, June 15, 2025, payable semiannually in arrears, and (ii) a floating rate per annum equal to a benchmark rate, which is expected to be Three-Month Term SOFR (as defined in the Notes), plus a spread of 560.5 basis points from, and including, June 15, 2025, to, but excluding the maturity date or the date of early redemption payable quarterly in arrears. The Notes are intended to qualify as Tier 2 capital for regulatory purposes. This offering is expected to close on June 15, 2020, subject to the satisfaction of customary closing conditions.

Keefe Bruyette & Woods, A Stifel Company and Goldman Sachs & Co. LLC are acting as joint book-running managers, and Stephens Inc. is acting as co-manager for the offering.

About ConnectOne Bancorp, Inc.

ConnectOne Bancorp, Inc., through its subsidiary, ConnectOne Bank offers a full suite of both commercial and consumer banking and lending products and services through its banking offices located across New York and New Jersey. ConnectOne Bancorp, Inc. is traded on the Nasdaq Global Market under the trading symbol "CNOB," and information about ConnectOne may be found at https://www.connectonebank.com.