Stock BuybacksBy The Online Investor Staff, updated Tue., Feb. 18, 2:10 PM
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Slide #20. The First of Long Island Corporation
The First of Long Island Corporation (NASDAQ:FLIC)
The First of Long Island Corporation (Nasdaq: FLIC), the parent company of The First National Bank of Long Island, today announced that its Board of Directors has approved an increase of $15 million in its previously announced common stock repurchase program for a total of $65 million in repurchases. Under this program, $25 million in repurchases remain to be executed. The Company may repurchase its shares from time to time through open market purchases, privately negotiated transactions or in any other manner that is compliant with applicable securities laws. The stock repurchase program does not obligate the Company to purchase shares. There is no guarantee as to the exact number of shares that may be repurchased by the Company pursuant to this program, which is subject to market conditions, the cost of repurchasing shares, the availability of alternative investment opportunities, liquidity and other factors deemed appropriate.
First of Long Island is a bank holding company. Through its subsidiary, The First National Bank of Long Island (the Bank), Co. provides a range of lending services including commercial and residential mortgage loans, home equity lines, commercial and industrial loans, small business credit scored loans, Small Business Administration loans, construction and land development loans, consumer loans and commercial and standby letters of credit. The Bank has an Investment Management Division that provides investment management, pension trust, personal trust, estate and custody services.
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Hold (2.00 out of 4)
(ranked lower than approx. 97% of all stocks covered)
Based on Zacks ABR data;
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