Is The First of Long Island Corporation a Buy?

The First of Long Island Corporation functions as the parent entity for The First National Bank of Long Island, which delivers a comprehensive array of financial services. Its diverse client base includes individuals, professionals, small and mid-sized businesses, municipalities, and various other organizations. The bank offers an extensive portfolio of deposit accounts, encompassing personal, business, and small business checking; Negotiable Order of Withdrawal (NOW), Interest on Lawyer Accounts (IOLA), escrow, and rent security accounts. It also provides personal and nonpersonal money market accounts, savings accounts, time deposits, holiday club accounts, and individual retirement accounts. For credit needs, the institution extends commercial and residential mortgages, commercial and industrial loans, small business credit-scored loans, Small Business Administration (SBA) loans, and financing for construction and land development. Consumer loans and home equity lines of credit are also available, alongside commercial and standby letters of credit. Furthermore, the bank provides debit and credit cards and overdraft facilities. Beyond core banking, its services include life insurance, trust, estate, and custody solutions, and retail investment advisory. Operational conveniences like bill payment, lockbox services, ACH, safe deposit box rentals, wire transfers, money orders, and checkbook printing are also provided. Customers benefit from ATM, online, and mobile banking, as well as investment securities, management, and advisory services. Established in 1927 and headquartered in Glen Head, New York, the company maintains a significant regional presence with 40 branches. These are distributed across 17 locations in Nassau County, 15 in Suffolk County, 5 in Queens, 2 in Brooklyn, and 1 in Manhattan.