Stock Offering Could Fund Acquisitions for First of Long Island

By Joseph Kellard May 03, 2016, 12:13 p.m. EDT 1 Min Read

The First of Long Island Corp. in Glen Head, N.Y., plans a secondary offering of about $35 million of common stock.

The $3.1 billion-asset parent company of First National Bank of Long Island said it expects to use the net proceeds for general corporate purposes, including support of organic growth and possibly the financing acquisitions of branches or fee-based business.

Sandler O'Neill was the sole underwriter for the offering, First of Long Island said in a news release Monday.

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Joseph Kellard

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