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Center Bancorp CNOB Bank Owned Life Insurance
Bank Owned Life Insurance at other companies
Other financials
Where this comes from
Reported directly by Center Bancorp in its filing.
Tagged under the XBRL concept us-gaap:BankOwnedLifeInsurance.
The source filing: Center Bancorp’s 10-Q, filed May 5, 2026.
- Filed
- May 5, 2026, 4:01 PM EDT
- Fiscal quarter
- Q1 FY2026
- Calendar quarter
- Q1 2026
- Accession
- 0001437749-26-014866
| (in thousands, except for share data) | March 31, 2026 | December 31, 2025 |
|---|---|---|
| Investment in restricted stock, at cost | 51,464 | 54,722 |
| Bank premises and equipment, net | 54,765 | 55,285 |
| Accrued interest receivable | 62,473 | 60,761 |
| Bank owned life insurance | 373,664 | 370,713 |
| Right of use operating lease assets | 27,960 | 29,603 |
| Goodwill | 220,235 | 220,235 |
| Core deposit intangibles | 57,078 | 59,923 |
| Other assets | 208,883 | 200,972 |
Document
FAQ
- What is Center Bancorp's bank owned life insurance?
- Center Bancorp (CNOB) reported bank owned life insurance of $373.66M in Q1 2026.
- How has Center Bancorp's bank owned life insurance changed year-over-year?
- Center Bancorp's bank owned life insurance increased by 52.7% year-over-year, from $244.65M to $373.66M.
- What is the long-term trend for Center Bancorp's bank owned life insurance?
- Over 5 years (2020 to 2025), Center Bancorp's bank owned life insurance has grown at a 17.4% compound annual growth rate (CAGR), from $165.96M to $370.71M.
- What does bank owned life insurance mean?
- This is the cash surrender value of life insurance policies held by the bank on the lives of key employees or officers. The bank acts as the beneficiary, using these policies to offset the costs of employee benefit plans and provide tax-advantaged income. It represents a long-term asset that contributes to non-interest income stability.
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