Frank Sorrentino III is Chairman and CEO of ConnectOne Bank (CNOB), which has banking offices across New Jersey, New York and South Florida. Mr. Sorrentino and other Bergen County civic and business leaders founded the bank to serve local residents and businesses by providing personalized community banking services. Mr. Sorrentino is responsible for the firm's business development plan, while also serving as its community liaison, and sitting on the loan committee.

Sorrentino offers his take on the strength of the community banking sector, as well as the direction of US monetary policy in the near-term. Frank speaks with Carol Massar and Tim Stenovec on Bloomberg Businessweek Daily.

Frank Sorrentino III is Chairman and CEO of ConnectOne Bank (CNOB), which has banking offices across New Jersey, New York and South Florida. Mr. Sorrentino and other Bergen County civic and business leaders founded the bank to serve local residents and businesses by providing personalized community banking services. Mr. Sorrentino is responsible for the firm's business development plan, while also serving as its community liaison, and sitting on the loan committee.
Sorrentino offers his take on the strength of the community banking sector, as well as the direction of US monetary policy in the near-term. Frank speaks with Carol Massar and Tim Stenovec on Bloomberg Businessweek Daily.

Carol Massar and Tim Stenovec bring you reporting from the magazine that helps global leaders stay ahead, plus insight on the people, companies and trends shaping today's complex economy.  Watch us LIVE on YouTube: http://bit.ly/3vTiACF.

Carol Massar and Tim Stenovec bring you reporting from the magazine that helps global leaders stay ahead, plus insight on the people, companies and trends shaping today's complex economy.&nbsp; Watch us LIVE on YouTube: <a href="http://bit.ly/3vTiACF">http://bit.ly/3vTiACF</a>.

Carol Massar and Tim Stenovec bring together the latest news from the world of business and finance and the interesting stories of global technology, politics, economics and more by harnessing the power of Bloomberg Businessweek reporters and editors.

Bloomberg Businessweek

ConnectOne Bank CEO Remains Bullish Amid Economic Risks 

https://api.omny.fm/orgs/e73c998e-6e60-432f-8610-ae210140c5b1/clips/b881e35a-6a01-46b6-a1b8-b39c01713dd6/transcript

ConnectOne Bancorp delivered an 8% increase in adjusted pre-provision net revenue in its most recent quarter, reflecting margin expansion and operating efficiency. Bloomberg Intelligence notes that management tempered loan-growth expectations for 2026 to 3-5% from 5% vs. estimates of 5.5%, and expects net interest margin to exit 2026 at 3.35-3.4% vs. consensus' 3.45%. 

Frank Sorrentino, Founder and CEO of ConnectOne Bank discusses the state of regional and local banks as Santander snaps up Webster for $12 billion in a push for US expansion. Sorrentino says smaller banks benefit from consolidation as clients move from firm to firm and bank product options change. He also discusses the state of the consumer and the housing market as the Trump administration mulls different housing-related proposals centered around affordability. Frank speaks with Carol Massar and Tim Stenovec on Bloomberg Businessweek Daily.

ConnectOne Bancorp delivered an 8% increase in adjusted pre-provision net revenue in its most recent quarter, reflecting margin expansion and operating efficiency. Bloomberg Intelligence notes that management tempered loan-growth expectations for 2026 to 3-5% from 5% vs. estimates of 5.5%, and expects net interest margin to exit 2026 at 3.35-3.4% vs. consensus' 3.45%. 
Frank Sorrentino, Founder and CEO of ConnectOne Bank discusses the state of regional and local banks as Santander snaps up Webster for $12 billion in a push for US expansion. Sorrentino says smaller banks benefit from consolidation as clients move from firm to firm and bank product options change. He also discusses the state of the consumer and the housing market as the Trump administration mulls different housing-related proposals centered around affordability. Frank speaks with Carol Massar and Tim Stenovec on Bloomberg Businessweek Daily.

ConnectOne's 4Q Beat Shows Ongoing Momentum: Earnings Outlook

https://api.omny.fm/orgs/e73c998e-6e60-432f-8610-ae210140c5b1/clips/53e69785-d00b-4228-9ac1-b3e8017714a4/transcript

The people, companies and trends shaping the global economy.

Watch Carol and Tim LIVE every day on YouTube: http://bit.ly/3vTiACF.

Bitcoin tumbled below $63,000 as the unwinding of leveraged bets and broader market turbulence deepened a selloff that has wiped out all of the gains since President Donald Trump’s election set off a speculative rush into cryptocurrencies. 

The token fell as much as 14% Thursday to $62,267, the lowest since October 2024. The rout has erased half of Bitcoin’s value since it reached a record four months ago and has spread to other tokens, related ETFs and companies like Strategy Inc. that hold vast sums of coins.

The downturn has marked an abrupt retreat from Bitcoin’s meteoric rise through much of last year, when the return of the crypto-friendly Republican to the White House sent investors piling into such tokens and the Wall Street vehicles that have sprouted up around them. The market started cracking this month as rising geopolitical tensions sent tremors across global financial markets and curbed risk taking. That sparked Bitcoin’s precipitous decline from mid-January and set off a self-reinforcing cycle of selling as funds liquidated assets to meet redemptions and unwind leveraged bets.

The slide has echoes of the one in 2022, when prices retreated sharply from the surge seen during the easy-money era of the pandemic as the Federal Reserve tightened monetary policy. It has already taken a toll on intermediaries like the exchanges Coinbase Global Inc., whose shares have tumbled more than 30% this year, and Gemini Space Station Inc., which said it plans to cut up to 25% of its workforce and wind down operations in the UK, European Union and Australia.

Today's show features:
Paul Krugman, Nobel Prize Winning Economist and Research Professor at the City University of New York’s Graduate Center, on his latest Substack column about the dive in the price of Bitcoin and broader market for cryptocurrencies
Jurrien Timmer, Director of Global Macro at Fidelity Investments, on the investing landscape and on whether the recent market downturn is a sign of what’s to come.
Bloomberg Opinion Senior Executive Editor Tim O’Brien on his column examining the potential national security risks of the United Arab Emirates seeking deeper access to advanced American semiconductors
James Cakmak, Co-Founder and Chief Investment Officer at Clockwise Capital, on quarterly earnings from Amazon

The people, companies and trends shaping the global economy.
Watch Carol and Tim LIVE every day on YouTube: <a href="http://bit.ly/3vTiACF">http://bit.ly/3vTiACF</a>.
Bitcoin tumbled below $63,000 as the unwinding of leveraged bets and broader market turbulence deepened a selloff that has wiped out all of the gains since President Donald Trump&rsquo;s election set off a speculative rush into cryptocurrencies.&nbsp;
The token fell as much as 14% Thursday to $62,267, the lowest since October 2024. The rout has erased half of Bitcoin&rsquo;s value since it reached a record four months ago and has spread to other tokens, related ETFs and companies like Strategy Inc. that hold vast sums of coins.
The downturn has marked an abrupt retreat from Bitcoin&rsquo;s meteoric rise through much of last year, when the return of the crypto-friendly Republican to the White House sent investors piling into such tokens and the Wall Street vehicles that have sprouted up around them. The market started cracking this month as rising geopolitical tensions sent tremors across global financial markets and curbed risk taking. That sparked Bitcoin&rsquo;s precipitous decline from mid-January and set off a self-reinforcing cycle of selling as funds liquidated assets to meet redemptions and unwind leveraged bets.
The slide has echoes of the one in 2022, when prices retreated sharply from the surge seen during the easy-money era of the pandemic as the Federal Reserve tightened monetary policy. It has already taken a toll on intermediaries like the exchanges Coinbase Global Inc., whose shares have tumbled more than 30% this year, and Gemini Space Station Inc., which said it plans to cut up to 25% of its workforce and wind down operations in the UK, European Union and Australia.
Today's show features:
<ul>
<li>Paul Krugman, Nobel Prize Winning Economist and Research Professor at the City University of New York&rsquo;s Graduate Center, on his latest Substack column about the dive in the price of Bitcoin and broader market for cryptocurrencies</li>
<li>Jurrien Timmer, Director of Global Macro at Fidelity Investments, on the investing landscape and on whether the recent market downturn is a sign of what&rsquo;s to come.</li>
<li>Bloomberg Opinion Senior Executive Editor Tim O&rsquo;Brien on his column examining the potential national security risks of the United Arab Emirates seeking deeper access to advanced American semiconductors</li>
<li>James Cakmak, Co-Founder and Chief Investment Officer at Clockwise Capital, on quarterly earnings from Amazon</li>
</ul>

Bitcoin Drops Below $63,000, Wiping Out Gain Since Trump’s Win

https://api.omny.fm/orgs/e73c998e-6e60-432f-8610-ae210140c5b1/clips/bda02e56-f2cc-4106-8b49-b3e8017b0a46/transcript

Amazon said it plans to spend billions more than expected on data centers, chips and other equipment, fueling investor concerns that the company’s massive bet on artificial intelligence will take longer to pay off than anticipated.The company reported $39.5 billion on property and equipment expenses in the fourth quarter, topping estimates by almost $5 billion, and said its capital expenditures would reach $200 billion this year. Bloomberg Businessweek Daily hosts Carol Massar and Tim Stenovec speak with: Bloomberg Intelligence Senior Analyst for E-Commerce and Athleisure Poonam Goyal and James Cakmak, Co-Founder and Chief Investment Officer at Clockwise Capita

Amazon said it plans to spend billions more than expected on data centers, chips and other equipment, fueling investor concerns that the company&rsquo;s massive bet on artificial intelligence will take longer to pay off than anticipated.The company reported $39.5 billion on property and equipment expenses in the fourth quarter, topping estimates by almost $5 billion, and said its capital expenditures would reach $200 billion this year. Bloomberg Businessweek Daily hosts Carol Massar and Tim Stenovec speak with: Bloomberg Intelligence Senior Analyst for E-Commerce and Athleisure Poonam Goyal and James Cakmak, Co-Founder and Chief Investment Officer at Clockwise Capita

Instant Reaction: Amazon Boosts Spending Far Ahead of Estimates

https://api.omny.fm/orgs/e73c998e-6e60-432f-8610-ae210140c5b1/clips/018ded8b-7e5b-4282-b2f3-b3e801664136/transcript

ConnectOne Bank CEO Remains Bullish Amid Economic Risks

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