ConnectOne Bank


Overview / Commentary
844-266-2548
301 Sylvan Avenue
Englewood Cliffs, NJ 07632

ConnectOne Bank is headquartered in Englewood Cliffs and is the 6th largest bank in the state of New Jersey. It is also the 174th largest bank in the nation. It was established in 2005 and as of June of 2022, it had grown to 505 employees at 23 locations. ConnectOne Bank's savings rates are 7X the national average, and it has an A health rating.

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ConnectOne Bank 13-Month and 23-Month CDs Are New Rate Leaders - 9/17/2022

ConnectOne Bank's nationally available 13- month and 23-month CDs are new rate leaders, following rate increases. $500 min deposit /$1 million max deposit.

ConnectOne Bank Adds Competitive 7-Month CD - 8/29/2022

ConnectOne Bank has added a competitive, nationally available 7-month CD. $500 minimum opening deposit with a $1 million balance cap.

ConnectOne Bank Ups Nationally Available Short-Term CD Rates - 8/12/2022

ConnectOne Bank has significantly raised the rates on its nationally available 13- month and 23-month CDs to competitive levels. $500 minimum/$1 million deposit.

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I'm Very Pleased With CONNECTONE.

Posted by: |

I opened two accounts (me and my wife) several months ago and have been very pleased with ConnectOne.

I've had absolutely no problems with opening accounts, funding the accounts, accessing funds, or managing my accounts.

And I think their Customer Service is EXEMPLARY.

I’ve had a couple of operational questions and: 1) I get a representative almost immediately and 2) that representative is polite, knowledgeable, professional, and genuinely helpful. They are just plain honest and will follow thru without question.

It’s almost like having a personal banker at the local office… maybe just more convenient.

Yes, they have a deposit limit of 250K (actually a max limit to earn interest), which could be a little inconvenient, but I think it represents just good banking (to minimize deposit base fluctuations). Fine in my book.

I wish them continued good going for the future.
PTF

Programmer Should Be Fired

Posted by: |

• When setting up log in, website requires password to include at least one special character, a list of acceptable special character is given. After typing in, website says certain special characters are not allowed, which were not used.
• After talking with two different CSRs, special characters cannot be used, period. Are you kidding me?
• Cannot log in after set up until following business day. Is that a joke?

Was Thinking About It, But....

Great current rate, but according to their webpage, if you decide to cash out a CD upon maturity, they send you a check in the mail. If you have another account with them, you can dump the principal into that account. Perhaps this is a common practice, but I'd rather not have any large checks floating around in any of the mail services. Would be nice if you could ACH it back to your original bank.

Doesn't Give Best Rate To Loyal Customers

Posted by: |

Potential customers should be aware that the online-savings APY you see for ConnectOne on DepositAccounts.com is for new accounts only. It is not what they're paying existing customers for their high-yield ONLINE savings accounts. The APY on my high-yield online savings account at ConnectOne is lower.

Once I became a customer, ConnectOne was very slow to raise the rate on my online savings account when interest rates were climbing everywhere else. When my online savings at other banks was earning 2%-plus, my online savings at ConnectOne stayed at 1.25% for months.

I twice asked ConnectOne to increase the APY on my online savings account to match the APY for the online savings account that ConnectOne gives on Deposit Accounts, and they refused.

This review does not pertain to the "regular" savings account at ConnectOne. That's a low-yield product.

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Health

Health Grade Components

Overall
FDIC Certificate #57919
Year Established2005
Employees505
Primary RegulatorFDIC
Profit Margin
Return on Assets - YTD1.6%
Return on Equity - YTD11.94%
Annual Interest Income$164.3MM
Assets and Liabilities
AssetsQ2 2022vs Q2 2021$8.84B$7.71B
LoansQ2 2022vs Q2 2021$7.20B$6.34B
DepositsQ2 2022vs Q2 2021$6.73B$6.22B
Equity CapitalQ2 2022vs Q2 2021$1.15B$1.05B
Loan Loss AllowanceQ2 2022vs Q2 2021$82.7MM$78.7MM
Unbacked Noncurrent LoansQ2 2022vs Q2 2021$70.9MM$75.9MM
Real Estate OwnedQ2 2022vs Q2 2021$316.00K$0
Rates
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Always verify rates and promotions with the bank or credit union. We are not ConnectOne Bank; we are a rate comparison website and cannot provide official rates or promotions.

* The APY shown varies based on the deposit amount. Expand the listing to see APYs for other deposit amounts.

ConnectOne Bank Savings Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
3.85%*$250k*-Connection Plus Savings
OTHER TIERS: 3.75% $2.5k - $250k
3.35%*$250k*-OneConnection Savings - Online
OTHER TIERS: 3.25% $2.5k - $250k
0.05%--Statement Savings
0.05%--Business Savings

ConnectOne Bank Money Market Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
3.10%*$25k*-Connect Money Market
OTHER TIERS: 3.00% Up to $25k
2.10%*$750k*-Impact Money Market - New Money
OTHER TIERS: 1.90% $2.5k - $50k | 2.00% $50k - $750k
1.10%*$750k*-Business Impact Money Market
OTHER TIERS: 0.90% $2.5k - $50k | 1.00% $50k - $750k
0.20%*$2.5k*-Money Market
OTHER TIERS: 0.05% $1k - $2.5k
0.20%*$2.5k*-Business Money Market
OTHER TIERS: 0.05% $1k - $2.5k

ConnectOne Bank Checking Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.05%$1k-Consumer Interest Checking
0.05%$1k-Business Interest Checking

ConnectOne Bank CD Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
4.65%$500-19 Month CD
3.60%$500-18 Month CD
3.60%$500-Business 18 Month CD
3.60%$500-23 Month CD
3.60%$500-Business 23 Month CD
3.50%$500-13 Month CD
3.50%$500-Business 13 Month CD
3.40%$500-7 Month CD
3.40%$500-Business 7 Month CD
2.45%$500-58 Month CD
2.45%$500-Business 58 Month CD
2.35%$500-46 Month CD
2.35%$500-Business 46 Month CD
2.25%$500-34 Month CD
2.25%$500-Business 34 Month CD
0.50%$500-24 Month CD
0.50%$500-36 Month CD
0.50%$500-48 Month CD
0.50%$500-60 Month CD
0.50%$500-Business 24 Month CD
0.50%$500-Business 36 Month CD
0.50%$500-Business 48 Month CD
0.50%$500-Business 60 Month CD
0.25%$500-90 Day CD
0.25%$500-6 Month CD
0.25%$500-12 Month CD
0.25%$500-Business 90 Day CD
0.25%$500-Business 179 Day CD
0.25%$500-Business 6 Month CD
0.25%$500-Business 12 Month CD

ConnectOne Bank IRA Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
3.60%$500-18 Month IRA
3.60%$500-23 Month IRA
3.50%$500-13 Month IRA
3.40%$500-7 Month IRA
2.45%$500-58 Month IRA
2.35%$500-46 Month IRA
2.25%$500-34 Month IRA
0.50%$500-24 Month IRA
0.50%$500-36 Month IRA
0.50%$500-48 Month IRA
0.50%$500-60 Month IRA
0.25%$500-90 Day IRA
0.25%$500-6 Month IRA
0.25%$500-12 Month IRA
Locations

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