GLEN HEAD, N.Y., July 14, 2014 (GLOBE NEWSWIRE) -- 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.
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.
For More Information Contact: Mark D. Curtis, EVP, CFO and Treasurer (516) 671-4900, Ext. 556