The First of Long Island Corporation Announces Approval of Stock Repurchase Program
October 30 2018 - 11:00AM
The First of Long Island Corporation (Nasdaq: FLIC), the parent
company of The First National Bank of Long Island, today announced
that its Board of Directors has approved a stock repurchase program
for shares of its common stock in an amount up to $20
million. The Company may repurchase the shares from time to
time through open market purchases, privately negotiated
transactions or in any other manner that is compliant with
applicable securities laws.
The stock repurchase program does not obligate the Company to
purchase shares. There is no guarantee as to the exact number of
shares that may be repurchased by the Company pursuant to this
program, which is subject to market conditions, the cost of
repurchasing shares, the availability of alternative investment
opportunities, liquidity, and other factors deemed appropriate.
About The First of Long Island Corporation
The First of Long Island Corporation is the bank holding company
for The First National Bank of Long Island. The Bank serves the
financial needs of privately owned businesses, professionals,
consumers, public bodies and other organizations primarily in
Nassau and Suffolk Counties, Long Island, and the boroughs of New
York City and currently has fifty-two branches in Nassau and
Suffolk Counties, Long Island and the boroughs of Queens, Brooklyn
and Manhattan.
Forward-Looking Statements
This press release contains “forward-looking statements” within
the meaning of that term as set forth in Rule 175 of the Securities
Act of 1933 and Rule 3b-6 of the Securities Exchange Act of 1934.
Such statements are generally contained in sentences including the
words “may” or “expect” or “could” or “should” or “would” or
“believe” or “anticipate.” The Company cautions that these
forward-looking statements are subject to numerous assumptions,
risks and uncertainties that could cause actual results to differ
materially from those contemplated by the forward-looking
statements, including those risk factors described in the Company’s
Annual Report on Form 10-K. These forward-looking statements are
made as of the date of this press release, and the Company assumes
no obligation to update the forward-looking statements or to update
the reasons why actual results could differ from those projected
in the forward-looking statements.
For More Information Contact:Mark D. Curtis, SEVP, CFO and
Treasurer (516) 671-4900, Ext. 7413
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