GLEN HEAD, N.Y., July 7, 2009 (GLOBE NEWSWIRE) -- The First of Long Island Corporation (Nasdaq:FLIC) announced today that it was added to the Russell 3000(r) and 2000(r) Indexes when Russell Investments reconstituted its comprehensive set of U.S. and global equity indexes on June 26, 2009.
Russell indexes are widely used by investment managers and institutional investors for both index funds and as benchmarks for passive and active investment strategies. The Company's membership will be re-evaluated when Russell reconstitutes its indexes in June 2010.
"We are pleased with our inclusion in these indexes, which reflects our continued positive momentum," said Michael N. Vittorio, President & CEO. "Russell is an industry leader for stock indexes, and we expect our participation will generate greater interest in our stock at an institutional investor level."
The annual reconstitution of the Russell 3000 captures the 3,000 largest U.S. stocks in terms of total market capitalization. The largest 1,000 companies in this ranking comprise the Russell 1000 and the next 2,000 companies become the Russell 2000.
ABOUT THE FIRST OF LONG ISLAND CORPORATION
The First of Long Island Corporation is the holding company for The First National Bank of Long Island ("FNBLI") which was established in 1927. FNBLI, the Bank "Where Everyone Knows Your Name," is a full service commercial bank that provides a broad range of financial services to individual, professional and corporate customers through its twenty-eight branches on Long Island and in Manhattan. The Bank is presently building its 29th branch in Bayville, New York. FNBLI's commitment is to provide the highest level of quality service to its customers and FNBLI is consistently ranked among the highest rated banks in terms of financial strength by TheStreet.com Ratings, Inc. For more information, visit FNBLI's web site at HUwww.fnbli.com
ABOUT RUSSELL INVESTMENTS
Russell Investments is a global investment company with $136 billion in assets under management as of March 31, 2009. Russell serves individual, institutional and advisor clients in more than 40 countries and provides investment solutions including mutual funds, retirement investments, institutional asset management, implementation services and global stock market indexes. Russell is world-renowned for its depth of manager research, quality of manager selection and access to some of the world's leading investment managers. It helps investors of all sizes put this access to work in corporate defined benefit and defined contribution plans, and in the life savings of individual investors.