Summary - Funding Rounds

Founding Date

2006
Bancorp of New Jersey is a subsidiary of ConnectOne Bancorp

Bancorp of New Jersey Income Statement

Annual

USDFY, 2011FY, 2012FY, 2013FY, 2014FY, 2015FY, 2016FY, 2017FY, 2018

Revenue

19.9m23.4m24.8m27.9m309.0k491.0k448.0k420.0k

Revenue growth, %

12%13%

Sales and marketing expense

119.0k

R&D expense

566.0k695.0k747.0k817.0k974.0k1.2m1.4m1.1m

Operating expense total

1.6m1.9m1.8m2.2m2.9m3.4m3.4m3.5m

Depreciation and amortization

862.0k

Interest expense

4.7m6.1m6.1m6.6m8.0m7.0m7.6m9.3m

Pre tax profit

5.5m6.9m7.7m5.9m7.3m6.1m7.2m7.1m

Income tax expense

2.2m2.7m3.1m2.1m2.5m2.1m3.7m1.6m

Net Income

3.3m4.2m4.7m3.8m4.8m4.0m3.6m5.5m

Bancorp of New Jersey Balance Sheet

Annual

USDFY, 2011FY, 2012FY, 2013FY, 2014FY, 2015FY, 2016FY, 2017FY, 2018

Cash

32.2m31.1m37.7m22.1m74.2m77.0m1.6m3.5m

Accounts Receivable

360.6m430.5m466.4m626.4m636.7m712.1m756.6m

PP&E

10.2m10.2m10.4m10.1m10.5m13.5m13.7m13.4m

Total Assets

469.8m571.4m610.8m743.7m802.9m822.4m887.4m883.7m

Accounts Payable

718.0m

Long-term debt

26.5m13.4m51.7m

Total Debt

13.4m51.7m

Total Liabilities

417.9m517.7m554.8m683.8m729.8m745.3m804.1m794.6m

Common Stock

49.5m49.7m50.5m51.0m60.5m70.2m76.7m

Retained Earnings

2.0m3.7m7.1m9.6m12.9m15.8m13.5m12.8m

Total Equity

51.9m53.7m56.0m59.9m73.2m77.1m83.3m89.1m

Financial Leverage

9.1 x10.6 x10.9 x12.4 x11 x10.7 x10.7 x9.9 x

Quarterly

USDQ2, 2011Q3, 2011Q1, 2012Q2, 2012Q3, 2012Q1, 2013Q2, 2013Q3, 2013Q1, 2014Q2, 2014Q3, 2014Q1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017Q2, 2017Q3, 2017Q2, 2018Q3, 2018Q1, 2019Q2, 2019Q3, 2019

Cash

14.5m27.7m23.0m26.6m32.5m44.9m32.7m23.6m28.7m14.7m23.8m51.9m74.5m99.3m1.6m4.0m2.3m2.0m2.9m4.2m4.7m3.2m1.8m2.6m2.6m

Accounts Receivable

330.4m348.6m381.8m397.6m412.9m440.1m466.6m468.3m496.9m531.5m581.6m642.5m643.3m617.0m643.8m646.2m651.4m676.0m667.3m684.9m732.0m735.1m764.3m773.0m788.5m

PP&E

10.0m10.1m10.4m10.3m10.3m10.2m10.3m10.4m10.3m10.2m10.2m10.1m10.1m10.1m11.3m12.4m12.9m13.7m13.7m13.8m13.5m13.5m13.3m13.2m13.0m

Total Assets

403.3m436.4m501.6m526.7m548.8m561.5m588.5m586.0m624.1m642.6m701.1m782.5m802.9m810.2m793.9m821.4m835.1m859.7m865.9m877.9m873.5m891.6m912.9m924.7m961.7m

Long-term debt

29.8m28.1m24.9m38.3m31.6m23.4m16.7m15.1m30.0m28.3m60.0m51.2m49.8m

Total Debt

29.8m28.1m24.9m38.3m31.6m23.4m16.7m15.1m30.0m28.3m60.0m51.2m49.8m

Total Liabilities

351.3m385.5m449.4m473.2m494.6m507.1m534.8m531.1m567.3m584.4m641.7m712.0m731.7m737.6m719.5m746.0m759.0m781.2m785.6m794.3m787.6m803.9m822.0m832.2m868.6m

Common Stock

49.5m49.5m49.6m49.6m49.7m49.7m49.8m50.1m50.6m50.9m50.9m60.3m60.4m60.5m60.6m60.9m61.3m61.8m67.5m69.4m76.6m76.7m76.8m76.8m76.9m

Retained Earnings

2.3m1.1m2.6m3.3m4.1m4.6m5.4m6.3m7.7m8.4m9.4m10.4m11.3m12.3m13.9m14.5m14.8m16.9m12.9m14.2m9.9m11.6m14.4m15.7m16.2m

Total Equity

52.0m50.9m52.1m53.5m54.2m54.4m53.7m54.9m56.8m58.2m59.4m70.5m71.2m72.6m74.3m75.4m76.1m78.5m80.3m83.6m85.9m87.7m90.9m92.5m93.1m

Financial Leverage

7.8 x8.6 x9.6 x9.8 x10.1 x10.3 x11 x10.7 x11 x11 x11.8 x11.1 x11.3 x11.2 x10.7 x10.9 x11 x10.9 x10.8 x10.5 x10.2 x10.2 x10 x10 x10.3 x

Bancorp of New Jersey Cash Flow

Annual

USDFY, 2011FY, 2012FY, 2013FY, 2014FY, 2015FY, 2016FY, 2017FY, 2018

Net Income

3.3m4.2m4.7m3.8m4.8m4.0m3.6m5.5m

Depreciation and Amortization

430.0k490.0k520.0k570.0k615.0k665.0k669.0k862.0k

Cash From Operating Activities

5.5m5.8m4.3m8.4m6.5m6.4m6.5m12.2m

Purchases of PP&E

(706.0k)(511.0k)(723.0k)(279.0k)(979.0k)(3.7m)(897.0k)(612.0k)

Cash From Investing Activities

(92.2m)(104.0m)(34.6m)(151.7m)(7.5m)(18.9m)(51.8m)(27.0m)

Short-term Borrowings

(19.0m)

Long-term Borrowings

(19.0m)

Dividends Paid

(2.1m)(2.5m)(1.3m)(1.3m)(1.5m)(1.1m)(695.0k)(4.0k)

Cash From Financing Activities

95.7m97.1m36.9m127.6m53.1m15.3m61.0m(13.3m)

Net Change in Cash

9.0m(1.1m)6.7m(15.7m)52.1m2.8m15.6m(28.1m)

Interest Paid

4.6m6.0m6.1m6.5m8.1m7.2m7.5m9.2m

Income Taxes Paid

2.7m2.7m3.7m2.5m3.2m2.6m2.6m994.0k

Quarterly

USDQ2, 2011Q3, 2011Q1, 2012Q2, 2012Q3, 2012Q1, 2013Q2, 2013Q3, 2013Q1, 2014Q2, 2014Q3, 2014Q1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017Q2, 2017Q3, 2017Q2, 2018Q3, 2018Q1, 2019Q2, 2019Q3, 2019

Net Income

1.5m2.4m897.0k1.9m3.0m1.1m2.3m3.5m871.0k1.9m3.2m1.1m2.4m3.8m1.3m2.3m3.0m1.1m2.4m3.7m2.5m4.3m1.6m2.9m3.4m

Depreciation and Amortization

211.0k314.0k121.0k245.0k369.0k124.0k249.0k380.0k141.0k282.0k424.0k149.0k302.0k458.0k188.0k334.0k478.0k182.0k327.0k467.0k420.0k640.0k221.0k442.0k666.0k

Cash From Operating Activities

3.0m4.1m797.0k2.3m3.6m1.3m2.9m5.2m2.7m4.5m7.6m1.4m3.9m5.2m1.8m3.1m4.7m1.5m3.2m4.6m4.1m6.6m1.1m3.2m4.3m

Purchases of PP&E

(278.0k)(499.0k)(273.0k)(391.0k)(436.0k)(116.0k)(279.0k)(517.0k)(46.0k)(91.0k)(169.0k)(161.0k)(280.0k)(447.0k)(1.0m)(2.2m)(2.9m)(364.0k)(566.0k)(762.0k)(158.0k)(404.0k)(86.0k)(175.0k)(222.0k)

Cash From Investing Activities

(43.2m)(62.7m)(41.5m)(63.0m)(78.7m)23.5m(18.0m)(24.5m)(23.7m)(56.5m)(106.2m)(8.9m)(7.8m)10.7m(4.0m)(5.8m)(15.5m)(22.2m)(3.6m)(28.1m)(19.7m)(12.8m)(7.6m)(6.3m)(21.8m)

Long-term Borrowings

(6.0m)(19.0m)(8.3m)489.0k1.8m

Dividends Paid

(312.0k)(624.0k)(936.0k)(312.0k)(630.0k)(948.0k)(321.0k)(642.0k)(965.0k)(374.0k)(749.0k)(1.1m)(374.0k)(750.0k)(1.1m)(2.0k)(4.0k)

Cash From Financing Activities

31.5m63.1m31.5m55.0m75.4m(10.9m)16.7m11.8m11.9m29.0m84.7m37.4m56.4m61.4m(10.4m)15.7m29.1m35.8m40.8m50.9m(16.6m)(386.0k)14.6m24.8m61.4m

Net Change in Cash

(8.7m)4.5m(9.2m)(5.6m)273.0k13.8m1.6m(7.5m)(9.0m)(23.1m)(13.9m)29.8m52.4m77.3m(12.7m)13.1m18.2m15.2m40.5m27.4m(32.2m)(6.5m)8.0m21.7m44.0m

Interest Paid

2.1m3.3m1.4m2.9m4.5m1.5m3.1m3.1m1.5m3.0m4.7m1.9m3.9m6.1m1.9m3.7m5.4m1.9m3.8m5.7m4.1m6.4m2.9m6.3m9.9m

Income Taxes Paid

1.4m2.1m450.0k1.5m2.1m525.0k1.7m1.7m513.0k1.2m1.2m915.0k1.4m2.4m858.0k1.7m2.3m1.0m1.7m349.0k664.0k417.0k917.0k1.3m

Bancorp of New Jersey Ratios

USDQ2, 2011

Financial Leverage

7.8 x