First of Long Island Corporation — Cyborg Score 5/10

Strategic Profile

The Bank serves the financial needs of small-to-middle market businesses, professional service firms, not-for-profits, municipalities and consumers, primarily in Nassau and Suffolk Counties of Long Island, and the boroughs of New York City. The company shifted towards commercial lending and reduction in residential loans, underscoring a strategic refocus on higher-margin, relationship-based business operations, with diversification of revenue streams through noninterest income from service charges and merchant services.

Cyborg Score Rationale

In Q1 2025, the company reported net income of $3.8 million ($0.17 per share), compared to $4.4 million ($0.20 per share) in Q1 2024, with a 3.6% increase in net interest income offset by higher expenses. The acquisition by ConnectOne in June 2025 indicates the company faced strategic headwinds as an independent operator.

Top Insights

• (June 2025) Acquired by ConnectOne Bancorp at 0.5175 exchange ratio per share
• (Q1 2025) Net income declined 14% year-over-year to $3.8 million
• (2025) Strong credit quality with allowance for credit losses at 0.89% of total loans
• (Q1 2025) Maintained $0.21 per share quarterly dividend despite earnings pressure

Named Competitors

• Dime Community Bancshares — Regional bank serving New York and New Jersey
• ConnectOne Bancorp — Regional bank and FLIC acquirer
• The First Bancorp — Regional banking services

Recent Developments

• (June 2025) Acquired by ConnectOne Bancorp, Inc.
• (Q1 2025) Reported net income of $3.8 million, down from $4.4 million in Q1 2024
• (March 2025) Declared first quarter cash dividend of $0.21 per share

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