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The First of Long Island: 3Q Earnings Snapshot

·1 min read

GLEN HEAD, N.Y. (AP) _ The First of Long Island Corp. (FLIC) on Thursday reported third-quarter profit of $10.8 million.

The Glen Head, New York-based bank said it had earnings of 45 cents per share.

The results exceeded Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 44 cents per share.

The holding company for The First National Bank of Long Island posted revenue of $37.5 million in the period. Its revenue net of interest expense was $31.3 million, which also topped Street forecasts. Three analysts surveyed by Zacks expected $29.3 million.

The First of Long Island shares have fallen 39% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $15.42, a fall of 35% in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on FLIC at https://www.zacks.com/ap/FLIC