Bloomberg Businessweek ConnectOne Bank CEO Remains Bullish Amid Economic Risks
Nov 24, 2025
Frank Sorrentino III, the CEO of ConnectOne Bank, shares insights on the community banking landscape. He highlights the resilience of small businesses in the New York metro area, despite apprehensions. Sorrentino discusses the key drivers of regional economic strength, such as AI and capital inflows. He addresses the challenges of rent-stabilized properties and advocates for tax relief and zoning changes to increase affordable housing. Additionally, he shares his perspective on Fed policy and the potential for an interest rate cut.
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Local Businesses Are Quietly Strong
- Frank Sorrentino sees the New York metro economy as robust despite broad apprehension among small businesses.
- Business owners report rising sales, hiring intent, and optimism about being better off in six months.
Diverse Growth Drivers Bolster Recovery
- Multiple positive inputs — AI, capital flows, construction, and manufacturing — are supporting regional growth.
- These varied drivers offset other negative signals and sustain confidence among firms.
Uneven Recovery Shapes Politics
- Sorrentino warns of a distributional economy with some areas lagging while others surge.
- He suggests political events reflect those unequal outcomes and could influence local economic dynamics.