The First of Long Island Corporation's Stock Recognized as a Tangible Book Value Winner by SNL Financial
July 14 2014 - 10:15AM
The First of Long Island Corporation's (Nasdaq:FLIC) stock was
named as a tangible book value ("TBV") winner by SNL Financial
("SNL") for its growth in TBV, among other criteria, for the twelve
and three months ended March 31, 2014. According to SNL, FLIC stood
out among the current list of winners by having the second-highest
first quarter 2014 TBV growth of 6.14% and the best adjusted
nonperforming loans ratio of .18%.
FLIC was one of ten bank stock winners selected by SNL based on,
among other things, meeting SNL's criteria of minimum TBV growth,
gross of cash dividends, of 8.00% for the twelve months ended March
31, 2014 and 3.00% for the quarter ended March 31, 2014. The banks
on SNL's list of tangible book value winners were selected from
among exchange-traded banks and thrifts headquartered in the U.S.
with total assets of at least $1 billion.
"We are proud to be recognized by SNL Financial for the growth
of our book value and be listed among such a small and select group
of banks that have created this kind of wealth for their
shareholders," said Michael N. Vittorio, President & CEO.
About Us
The First of Long Island Corporation is the parent company of
The First National Bank of Long Island ("Bank"). The Bank was
established in 1927 and is currently the largest nationally
chartered commercial bank headquartered on Long Island. It provides
a broad array of personal and business products and services to
individuals, professionals and corporate customers through its
thirty-seven branch locations on Long Island and in Manhattan. The
Bank is scheduled to open two more branches in 2014, one in
Oceanside, NY in the summer and another in Manhasset, NY in the
fourth quarter. Known as the Bank "Where Everyone Knows Your
Name®", the Bank's commitment is to provide the highest level of
quality service to its customers. For more information, visit the
Bank's website at www.fnbli.com.
CONTACT: For More Information Contact:
Mark D. Curtis, EVP, CFO and Treasurer
(516) 671-4900, Ext. 556
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