The First of Long Island Corporation Announces a New Common Stock Repurchase Program
January 31 2022 - 3:00PM
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 new common stock
repurchase program of $30 million. The Company may repurchase its
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
parent company of The First National Bank of Long Island. Through
its branch network branded as First National Bank LI, the Bank
focuses on business and consumer needs on Long Island and in New
York City. We offer a broad set of lending, deposit, investment,
and digital products. First National Bank LI is known for its
culture of delivering extraordinary service and a “Customer First”
banking experience to small and middle market businesses,
professional service firms, not-for-profits, municipalities and
consumers.
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:Jay McConie, EVP
and CFO (516) 671-4900, Ext. 7404
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