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Tim Delacion

Managing Director and Senior Equity Analyst at Raymond James

Tim Thein is a Managing Director and Senior Equity Analyst at Raymond James, specializing in covering industrial companies such as Allison Transmission, Federal Signal, Deere & Company, and Oshkosh. He is recognized for his outstanding performance, maintaining an 84.21% success rate and achieving an average analyst return of 17.3% on his recommendations. Tim began his analyst career in the financial sector years ago, progressively rising to his current leadership role at Raymond James. He holds all required professional credentials and securities licenses, and is known for his thorough research and high accuracy in equity analysis.

Tim Delacion's questions to ConnectOne Bancorp (CNOB) leadership

Tim Delacion's questions to ConnectOne Bancorp (CNOB) leadership • Q2 2025

Question

Tim Delacion, filling in for Daniel Tamayo at Raymond James, asked about the drivers behind the increase in the securities portfolio yield. He also sought clarification on whether the previously guided five basis point positive impact from a 25 basis point rate cut still holds post-merger, and questioned the future trajectory of reserve levels.

Answer

Senior EVP & CFO William Burns explained that the securities portfolio increased due to the acquisition and that restructurings were performed on the legacy portfolio to improve interest sensitivity and earnings. He confirmed the guidance of a five basis point margin benefit per rate cut remains valid. Regarding reserves, Burns noted the Q2 provision was a one-time adjustment due to the merger's impact on CECL modeling and that the non-accretable mark was conservatively set.

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