trending Market Intelligence /marketintelligence/en/news-insights/trending/KG8QkbvA8uCsXMKUBISlGA2 content esgSubNav
Log in to other products

Login to Market Intelligence Platform

 /


Looking for more?

Contact Us
In This List

Kroll affirms ratings for ConnectOne Bancorp, unit

Banking Essentials Newsletter December Edition Part 2

Banking Essentials Newsletter - November Edition

University Essentials | COVID-19 Economic Outlook in Banking: Rates and Long-Term Expectations: Q&A with the Experts

Estimating Credit Losses Under COVID-19 and the Post-Crisis Recovery


Kroll affirms ratings for ConnectOne Bancorp, unit

Kroll Bond Rating Agency on Aug. 11 affirmed ConnectOne Bancorp Inc.'s senior unsecured debt rating of BBB, subordinated debt rating of BBB- and short-term debt rating of K3.

The rating agency also affirmed ConnectOne Bank's deposit and senior unsecured debt ratings of BBB+, subordinated debt rating of BBB, and short-term deposit and debt ratings of K2.

All long-term ratings have a stable outlook.

Factors that support the rating include the bank's "strong core profitability metrics and efficiency ratio, experienced management team, expertise in commercial lending with operations in favorable markets, and solid risk management infrastructure," Kroll noted. On the other hand, Kroll cited the bank's commercial real estate and construction lending-heavy loan portfolio, compact geographic footprint, asset quality deterioration due to its taxi medallion portfolio, and low diversification in the revenue mix as factors that constrain the ratings.