First of Long Island offers $35 million of common stock in public sale

Proceeds will be used for general corporate purposes

By Angela McDaniels

Tacoma, Wash., May 2 – First of Long Island Corp. is offering $35 million of common stock in a public offering. The price per share has not been set.

Sandler O’Neill + Partners LP is the underwriter and will have an over-allotment option, according to a 424B5 filing with the Securities and Exchange Commission.

Proceeds will be used for general corporate purposes, including support for organic growth and financing possible acquisitions of branches or fee-based businesses.

On April 29, the company’s stock closed at $30.61 (Nasdaq: FLIC).

First of Long Island provides financial services through its wholly owned subsidiary, First National Bank of Long Island, and is based in Glen Head, N.Y.

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