Q
U
E
E
N
S
BROOKLYN
MANHATTA
N
Branching
Out
in Profitable
Directions
®
A U
AS S
N
S U FFOLK
2016
Annual
Report
®
BUSINESS OF THE CORPORATION
The First of Long Island Corporation (“Corporation”) is a one-bank holding company organized
under the laws of the State of New York. Its primary business is the operation of its sole
subsidiary, The First National Bank of Long Island (“Bank”).
The Bank was organized in 1927 under national banking laws and became the sole subsidiary
of the Corporation under a plan of reorganization effected April 30, 1984.
The Bank is a full service commercial bank which provides a broad range of financial services
to individual, professional, corporate, institutional and government customers through its
branch system in Nassau and Suffolk Counties, Long Island and the New York City boroughs
of Queens, Brooklyn and Manhattan.
The Corporation is subject to regulation and supervision of the Federal Reserve Board and the
Securities and Exchange Commission. The Bank is subject to regulation and supervision of
the Federal Reserve Board, the Office of the Comptroller of the Currency (OCC) and the
Federal Deposit Insurance Corporation, which also insures its deposits. The OCC is the primary
banking agency responsible for regulating and supervising the Bank.
FULL YEAR 2016 HIGHLIGHTS*
• Net Income increased 19.3% to $30.9 million from $25.9 million
• EPS increased 9.8% to $1.34 from $1.22
• Cash Dividends Per Share increased 5.8% to $.55 from $.52
• Book value per share increased 8.9% to $12.90 at 12/31/16 from $11.85 at 12/31/15
• Raised $35.3 million of capital through the public offering of 1.3 million shares of
common stock
• Total Assets exceeded $3.5 billion at year end, increasing 12.1% during 2016
• 18.8% growth in the average balance of Loans
• 16.9% growth in the average balance of Total Deposits
• 7.6% growth in the average balance of Noninterest-Bearing Checking Deposits
• The Credit Quality of the Bank’s loan and securities portfolios remains excellent
• The Corporation completed a 3-for-2 stock split in November 2016
*All comparisons are of 2016 to 2015.
10 The First of Long Island Corporation
2016 Annual Report 1
DEAR SHAREHOLDERS,
2016 was another year of significant
growth and profitability. I am proud to
report during the year Total Assets grew nearly $400
million. At year end, Total Assets exceeded $3.5
billion, increasing by 12.1%. On an average balance
basis, Total Loans grew 18.8% ending the year over
$2.5 billion. The average balance of Total Deposits
grew 16.9% ending the year over $2.6 billion, and
the average balance of our Demand Deposits grew
7.6% ending the year over $800 million. We are
particularly proud of our Demand Deposit growth,
because Demand Deposit relationships normally
represent the primary banking relationship account.
Our market share continues to grow in one of, if not
the best, Retail Banking markets in the country.
During the year, earning asset growth balanced with
pristine asset quality drove profitability. Net Income
increased 19.3% to $30.9 million from $25.9 million
in 2015. To accommodate our growth strategies,
during the second quarter the Corporation raised
$35.3 million of capital in a public offering of 1.3
million shares of common stock. Despite the dilutive
effect of the offering, our EPS increased 9.8% to
$1.34 this year from $1.22 last year. Because of the
strength of our earnings and our confidence in our
ability to grow future earnings, we once again raised
our Cash Dividend per share to $.55 from $.52,
representing a 5.8% increase.
In 2016, our market capitalization grew from
$423.5 million to $676.6 million, an increase
of $253.1 million or 59.8%. Growth in our market
cap was driven by the appreciation in our stock
price of 42.8% and the public offering.
Correspondingly, book value per share increased
8.9% to $12.90 at December 31, 2016 from $11.85 at
December 31, 2015. As you know, growth in market
cap, appreciation of our stock price and growth in
book value are all indicative of wealth creation.
Our earning asset growth, profitability and the
corresponding effect on your investment has been
driven by our market penetration into our chosen
targeted market segments. These continue to
include: small businesses; middle-market companies;
professionals, i.e., doctors, lawyers, dentists and
CPAs; municipalities; school districts; and service
conscious consumers. The expansion of our branch
distribution system into key micro-markets in
Nassau and Suffolk counties with critical mass in
these targeted segments has been instrumental to
our deposit gathering efforts. Our deposit gathering
efforts have fueled our growth. As we move forward,
we will look to enhance these efforts by building
branches in Brooklyn and Queens. Our move to grow
in these boroughs is logical since they are just to the
west of our existing branch distribution system. The
boroughs are especially attractive because of the
high concentration of our targeted market segments
within relatively small geographies. It is a particularly
opportunistic time to build in the boroughs as
the money center banks continue to close branch
locations and “de-personalize” their approach to
customer service by creating virtual branches where
customers are served by technology rather than
people. We feel we are uniquely positioned to acquire
dislocated customers with our particular brand of
banking and with the high quality personal service
we provide. We are also prepared to provide our
customer base with all possible technology channels
that they may desire, but will not force them into any
particular one. This is the essence of what drives a
“customer driven” organization and provides a real
“big bank alternative” approach.
2016 Annual Report 1
To date, we have opened three branches in Queens
(Howard Beach, Whitestone and College Point) and
one branch in Brooklyn (Bay Ridge). The success of
our openings has far exceeded our expectations. We
are planning to open more branches in 2017, paying
very close attention to occupancy and personnel
costs. We also have a bias towards limiting the
amount of capital we allocate to build a branch. This
means our branches will be small but big enough to
get the job done! Although we still want to expand
our branch presence into a number of micro-markets
on Long Island, the boroughs remain our focus for
building new locations. We will do both, taking
advantage of the best branching opportunities.
There are many challenges in managing the Bank
today. Certainly there has been quite a bit of yield
curve volatility. There is significant competition for
loans and deposits within the marketplace. We have
little room to further reduce deposit rates, putting
pressure on our margin.
Our industry continues to be faced with new and
complex regulatory requirements. The President
has indicated we will have regulatory relief, but
the timing and impact of such relief is yet to be
determined. What we really know is as of today,
regulatory requirements and enhanced oversight
are exerting downward pressure on revenues
and upward pressure on required capital levels
and the cost of doing business.
Despite the challenges, it goes without saying that
our success has been spearheaded by our dedicated
employees. I am proud to be associated with our
employees. They are professional colleagues who
consistently exhibit the ability to routinely exceed
business expectations. Sometimes a CEO just gets
lucky. It is a pleasure to work beside them.
I also want to express my appreciation to my fellow
stockholders for your support. I truly appreciate the
investment you have made in our corporation. I want
to assure you that we take our fiduciary responsibility
to you seriously, and we will look to continue
to work to maximize your financial investment.
We take pride in our philosophy to manage with a
long-term approach to the business. We will not yield
to short-term pressures. We will remain measured
and disciplined in how we manage your investment
in our company.
Michael N. Vittorio
President and Chief Executive Officer
2 The First of Long Island Corporation
2016 Annual Report 3
35
30
25
20
15
10
5
0
3000
2500
2000
1500
1000
500
0
FINANCIAL OVERVIEW
NET INCOME
(in millions)
0 . 6 %
R 1
G
A
R C
A
E
N - Y
E
T
$20.4
$19.5
$18.4
$23.0
$21.3
$30.9
$25.9
$13.5
$13.0
$11.5
$3,510
$3,130
TOTAL ASSETS
(in millions)
3 . 9 %
R 1
G
A
R C
A
E
N - Y
E
T
$2,108
$2,022
$2,721
$2,400
$1,675
$1,711
$1,262
$1,069
’07
’08
’09
’10
’11
’12
’13
’14
’15
’16
’07
’08
’09
’10
’11
’12
’13
’14
’15
’16
TOTAL LOANS
(in millions)
8 . 9 %
R 1
G
A
R C
A
E
N - Y
E
T
$1,805
$1,478
$2,545
$2,248
$1,147
$986
$903
$828
$658
$526
$2,609
$2,285
TOTAL DEPOSITS
(in millions)
2 . 2 %
R 1
G
A
R C
A
E
N - Y
E
T
$1,985
$1,782
$1,633
$1,503
$1,278
$1,293
$869 $900
’07
’08
’09
’10
’11
’12
’13
’14
’15
’16
’07
’08
’09
’10
’11
’12
’13
’14
’15
’16
4000
3500
3000
2500
2000
1500
1000
500
0
2016 Annual Report 3
1.5
1.2
0.9
0.6
0.3
0.0
800
700
600
500
400
300
200
100
0
3000
2500
2000
1500
1000
500
0
2.5
2.0
1.5
1.0
0.5
0.0
ENTERING
NEW
MARKETS
BAY RIDGE | 9202 4TH AVENUE
BRO OKLYN!
In the Fourth Quarter of 2016,
The First National Bank of Long
Island entered a brand new
market—Brooklyn. On October 17,
2016, the very first branch opened
in Bay Ridge, Brooklyn on the
corner of Fourth Avenue and 92nd
Street. Branch expansion will
continue in the near future for
the Bank in the Brooklyn market.
As of February 3, 2017, total
deposit balances were more
than $35 million.
4 The First of Long Island Corporation
2016 Annual Report 5
BRO OKLYN!
2016 Annual Report 5
GROWING
OUR
PRESENCE
HEWLETT | 1301 BROADWAY
LONG ISLAND
On February 1, 2016, The
First National Bank of Long
Island opened a full service
branch in the Hewlett
community. We will continue
to deliver valuable service to
businesses and consumers
in the communities we serve.
As of February 3, 2017, total
deposit balances were more
than $103 million.
6 The First of Long Island Corporation
LONG ISLAND
2016 Annual Report 7
BUILDING
RELATIONSHIPS
COLLEGE POINT | 132-11A 14TH AVENUE
QUEENS
On December 19, 2016,
The First National Bank
of Long Island opened its
third branch in Queens.
We pride ourselves on
building customer loyalty
and reinforcing long-term
relationships in our
communities. As of
February 3, 2017, total
deposit balances were
more than $16 million.
8 The First of Long Island Corporation
2016 Annual Report 9
QUEENS
2016 Annual Report 9
43
44
45
44
47
13
23
32
39
12
15
37
48
46
49
20
28
11
36
3
41
17
2
22
5
19
30
29
29
14
9
35
18
8
42
26
10
40
16
6
4
38
33
27
3
24
25
1
21
7
LONG ISLAND
1 Babylon
42 Deer Park Avenue
Babylon, NY 11702
(631) 422-1700
2 Bayville
282 Bayville Avenue
Bayville, NY 11709
(516) 628-1288
3 Bellmore
408 Bedford Avenue
Bellmore, NY 11710
(516) 679-6200
4 Bohemia
30 Orville Drive
Bohemia, NY 11716
(631) 218-2500
5 Cold Spring Harbor
147 Main Street
Cold Spring Harbor, NY 11724
(631) 367-3600
6 Deer Park
60 East Industry Court
Deer Park, NY 11729
(631) 243-2600
7 East Islip
151 West Main Street
East Islip, NY 11730
(631) 277-2936
8 East Meadow
1975 Hempstead Turnpike
East Meadow, NY 11554
(516) 357-7200
9 Coming Soon!
East Setauket
234 Route 25A
East Setauket, NY 11733
10 Farmingdale
22 Allen Boulevard
Farmingdale, NY 11735
(631) 753-8888
11 Garden City
1050 Franklin Avenue
Suite 100
Garden City, NY 11530
(516) 742-6262
12 Glen Head
10 Glen Head Road
Glen Head, NY 11545
(516) 674-6650
13 Great Neck
536 Northern Boulevard
Great Neck, NY 11021
(516) 482-6666
14 Greenlawn
76 Broadway
Greenlawn, NY 11740
(631) 754-0660
10 The First of Long Island Corporation
34
15 Greenvale
7 Glen Cove Road
Greenvale, NY 11548
(516) 621-8811
16 Hauppauge
330 Motor Parkway
Suite 100
Hauppauge, NY 11788
(631) 952-2900
17 Hewlett
1301 Broadway
Hewlett, NY 11557
(516) 295-1974
18 Hicksville
106 Old Country Road
Hicksville, NY 11801
(516) 932-7150
19 Huntington
253 New York Avenue
Huntington, NY 11743
(631) 427-4143
20 Lake Success
3000 Marcus Avenue
Lake Success, NY 11042
(516) 775-3133
21 Lindenhurst
1 East Montauk Highway
Lindenhurst, NY 11757
(631) 956-3800
22 Locust Valley
108 Forest Avenue
Suite 2
Locust Valley, NY 11560
(516) 671-2299
23 Manhasset
572 Plandome Road
Manhasset, NY 11030
(516) 365-5010
24 Massapequa
574 Broadway
Massapequa, NY 11758
(516) 795-0100
25 Massapequa Park
1049 Park Boulevard
Massapequa Park, NY 11762
(516) 795-2265
26 Melville
555 Broad Hollow Road
Suite 001
Melville, NY 11747
(631) 752-1000
2
22
32
39
12
15
5
19
30
29
29
14
9
35
18
8
42
26
10
40
16
6
27
3
24
25
1
21
7
4
38
33
®
47 BRANCH
LOCATIONS
GROWING IN A
MEASURED AND DISCIPLINED WAY
43
44
45
47
44
48
46
49
13
23
37
20
28
11
36
3
41
17
34
27 Merrick
1810 Merrick Avenue
Merrick, NY 11566
(516) 771-6000
28 New Hyde Park
243 Jericho Turnpike
New Hyde Park, NY 11040
(516) 328-3100
29 Northport
711 Fort Salonga Road
Northport, NY 11768
(631) 261-4000
30 Northport Village
105 Main Street
Northport, NY 11768
(631) 261-0331
31 Oceanside
2933 Long Beach Road
Oceanside, NY 11572
(516) 536-3989
32 Old Brookville
209 Glen Head Road
Old Brookville, NY 11545
(516) 759-9002
33 Patchogue
392 East Main Street
Patchogue, NY 11772
(631) 289-1189
34 Point Lookout
26A Lido Boulevard
P.O. Box 173
Point Lookout, NY 11569
(516) 431-3144
35 Port Jefferson Station
Davis Professional Park
5225 Nesconset Highway
Building 4, Suite 21
Port Jefferson Station, NY 11776
(631) 928-4411
36 Rockville Centre
310 Merrick Road
Rockville Centre, NY 11570
(516) 763-5533
37 Roslyn Heights
130 Mineola Avenue
Roslyn Heights, NY 11577
(516) 621-1900
38 Sayville
215 West Main Street
Sayville, NY 11782
(631) 472-7000
39 Sea Cliff
299 Sea Cliff Avenue
Sea Cliff, NY 11579
(516) 671-7868
40 Smithtown
285 Middle Country Road
Suite 104
Smithtown, NY 11787
(631) 265-0200
41 Valley Stream
127 East Merrick Road
Valley Stream, NY 11580
(516) 825-0202
42 Woodbury
800 Woodbury Road
Suite M
Woodbury, NY 11797
(516) 364-3434
MANHATTAN
43 232 Madison Avenue
New York, NY 10016
(212) 213-8111
44 225 Broadway
Suite 703
New York, NY 10007
(212) 693-1515
QUEENS
45 College Point
132-11A 14th Avenue
College Point, NY 11356
(718) 215-7500
46 Howard Beach
159-14 Cross Bay Boulevard
Howard Beach, NY 11414
(718) 835-1962
47 Whitestone
19-01 Utopia Parkway
Whitestone, NY 11357
(718) 279-1206
BROOKLYN
48 Bay Ridge
9202 4th Avenue
Brooklyn, NY 11209
(646) 795-5000
49 Coming Soon!
Marine Park
4102 Avenue U
Brooklyn, NY 11234
2016 Annual Report 11
BOARD OF DIRECTORS The First of Long Island Corporation
Left to right
(standing):
John J. Desmond,
Eric J. Tveter,
Howard Thomas
Hogan Jr., Esq.,
Stephen V. Murphy,
John T. Lane, Michael
N. Vittorio and
Alexander L. Cover
Left to right (seated):
Peter Quick, Milbrey
Rennie Taylor, Walter
C. Teagle III and Paul T.
Canarick
Eric J. Tveter
Chief Executive Officer
Central Europe Group
Liberty Global plc
Michael N. Vittorio
President and Chief
Executive Officer
The First National Bank
of Long Island
Paul T. Canarick
President & Principal
Paul Todd, Inc.
(construction company)
Alexander L. Cover
Business & Management
Consultant
Retired Partner of
Ernst & Young LLP
John J. Desmond
Retired Partner-in-Charge
of the Long Island Office
Grant Thorton LLP
Howard Thomas Hogan Jr., Esq.
Director
Hogan & Hogan
(attorney at law)
John T. Lane
Retired Managing Director
J.P. Morgan & Co.
Stephen V. Murphy
President
S.V. Murphy & Co.
(investment banking)
Peter Quick
Partner
Burke and Quick Partners
Holdings LLP
Milbrey Rennie Taylor
Retired Executive Producer
of CBS News
Walter C. Teagle III
Chairman
President
Teagle Management, Inc.
(private investment firm)
Chairman
The Teagle Foundation, Inc.
Managing General Partner
Gulo Capital Partners L.P.
(private investment
partnership)
EXECUTIVE STAFF The First National Bank of Long Island
Michael N. Vittorio
President and Chief Executive Officer
Sallyanne K. Ballweg*
Senior Executive Vice President
Mark D. Curtis
Senior Executive Vice President, Chief Financial
Officer and Cashier
Christopher Becker
Executive Vice President and Chief Risk Officer
Paul J. Daley
Executive Vice President and Senior Commercial
Banking Officer
Richard Kick
Executive Vice President, Senior Retail Lending
Officer, Senior Facilities Administrator and
Chief Security Officer
Donald L. Manfredonia
Executive Vice President, Senior Lending Officer
and Deputy CRA Officer—Lending
Richard P. Perro
Executive Vice President, Branch Administration
*Retired
12 The First of Long Island Corporation
Left to right: Paul J. Daley, Christopher Becker, Richard P. Perro, Donald L. Manfredonia,
Michael N. Vittorio, Sallyanne K. Ballweg*, Mark D. Curtis and Richard Kick
2016 Annual Report 13
SELECTED FINANCIAL DATA *
SELECTED FINANCIAL DATA*
INCOME STATEMENT DATA:
Interest Income ….........................................................
Interest Expense ….......................................................
Net Interest Income ......................................................
Provision for Loan Losses.............................................
Net Income ...................................................................
PER SHARE DATA:
Basic Earnings...............................................................
Diluted Earnings ...........................................................
Cash Dividends Declared .............................................
Dividend Payout Ratio ..................................................
Book Value ...................................................................
Tangible Book Value .....................................................
BALANCE SHEET DATA AT YEAR END:
Total Assets ..................................................................
Loans.............................................................................
Allowance for Loan Losses............................................
Deposits …....................................................................
Borrowed Funds............................................................
Stockholders' Equity .....................................................
AVERAGE BALANCE SHEET DATA:
Total Assets ..................................................................
Loans …........................................................................
Allowance for Loan Losses ….......................................
Deposits …....................................................................
Borrowed Funds............................................................
Stockholders' Equity .....................................................
FINANCIAL RATIOS:
2016
$104,123
18,002
86,121
3,480
30,880
$1.35
1.34
.55
41.04%
$12.90
12.90
$3,510,320
2,545,421
30,057
2,608,717
586,224
305,830
$3,329,308
2,364,187
28,238
2,590,988
432,554
290,806
2015
2014
(dollars in thousands, except per share data)
2013
$92,135
16,529
75,606
4,317
25,890
$1.23
1.22
.52
42.62%
$11.85
11.84
$3,130,343
2,248,183
27,256
2,284,675
577,214
250,936
$2,897,548
1,990,823
24,531
2,215,883
419,372
243,330
$81,976
15,048
66,928
3,189
23,014
$1.11
1.10
.48
43.64%
$11.20
11.19
$2,721,494
1,804,819
23,221
1,985,025
481,486
233,303
$2,515,103
1,584,198
21,554
1,922,172
347,946
224,585
$74,851
12,364
62,487
2,997
21,300
$1.04
1.03
.45
43.69%
$10.04
10.03
$2,399,892
1,477,937
20,848
1,782,128
395,463
206,556
$2,240,139
1,286,227
19,847
1,747,888
272,737
203,125
2012
$76,229
16,127
60,102
3,628
20,393
$1.02
1.01
.43
42.57%
$10.14
10.13
$2,108,290
1,147,384
18,624
1,633,076
248,634
205,370
$2,057,608
1,073,046
18,098
1,578,233
257,392
200,137
Return on Average Assets (ROA) ….............................
Return on Average Stockholders' Equity (ROE) ...........
Average Equity to Average Assets ...............................
.93%
10.62%
8.73%
.89%
10.64%
8.40%
.92%
10.25%
8.93%
.95%
10.49%
9.07%
.99%
10.19%
9.73%
STOCK PRICES AND CASH DIVIDENDS*
STOCK PRICES AND CASH DIVIDENDS *
The Corporation's common stock trades on the NASDAQ Capital Market tier of the NASDAQ Stock Market under the symbol
"FLIC." The following table sets forth high and low sales prices and dividends declared, by quarter, for the years ended
December 31, 2016 and 2015.
Quarter
First
Second
Third
Fourth
High
$20.33
21.29
22.35
29.67
2016
Low
$17.43
18.06
18.68
20.99
Dividends
Declared
$ .13
.13
.14
.14
High
$18.91
19.29
19.16
21.28
2015
Low
$15.50
15.99
15.21
17.36
Dividends
Declared
$ .13
.13
.13
.13
* Adjusted to reflect the Corporation's stock splits.
2016 Annual Report 13
CONSOLIDATED BALANCE SHEETS
CONSOLIDATED BALANCE SHEETS
December 31 (in thousands)
2016
2015
Assets:
Cash and cash equivalents ..............................................................................................
$
36,929
$
39,635
Investment securities:
Held-to-maturity, at amortized cost (fair value of $11,637 and $14,910) ...................
Available-for-sale, at fair value...................................................................................
Loans held-for-sale...........................................................................................................
Loans:
Commercial and industrial.........................................................................................
Secured by real estate:
Commercial mortgages........................................................................................
Residential mortgages.........................................................................................
Home equity lines................................................................................................
Consumer and other .................................................................................................
Allowance for loan losses .........................................................................................
Restricted stock, at cost....................................................................................................
Bank premises and equipment, net..................................................................................
Bank-owned life insurance................................................................................................
Pension plan assets, net...................................................................................................
Other assets.....................................................................................................................
Liabilities:
Deposits:
Checking....................................................................................................................
Savings, NOW and money market.............................................................................
Time, $100,000 and over ..........................................................................................
Time, other ................................................................................................................
Short-term borrowings......................................................................................................
Long-term debt.................................................................................................................
Accrued expenses and other liabilities..............................................................................
Deferred income taxes payable........................................................................................
Stockholders' Equity:
Common stock, par value $.10 per share:
Authorized, 40,000,000 shares
Issued and outstanding, 23,699,107 and 14,116,677 shares.......................................
Surplus ............................................................................................................................
Retained earnings ............................................................................................................
Accumulated other comprehensive income (loss), net of tax ...........................................
14 The First of Long Island Corporation
11,387
815,299
826,686
-
126,038
1,085,198
1,238,431
86,461
9,293
2,545,421
(30,057)
2,515,364
31,763
34,361
33,097
17,316
14,804
3,510,320
$
$
808,311
1,519,749
178,918
101,739
2,608,717
207,012
379,212
9,481
68
3,204,490
14,371
737,700
752,071
105
93,056
1,036,331
1,025,215
87,848
5,733
2,248,183
(27,256)
2,220,927
28,435
30,330
32,447
14,337
12,056
3,130,343
$
$
777,994
1,195,968
198,147
112,566
2,284,675
211,502
365,712
12,313
5,205
2,879,407
2,370
101,738
203,326
307,434
(1,604)
305,830
3,510,320
$
1,412
56,931
185,069
243,412
7,524
250,936
3,130,343
$
CONSOLIDATED STATEMENTS OF INCOME
CONSOLIDATED STATEMENTS OF INCOME
Year Ended December 31 (dollars in thousands, except per share data)
2016
2015
2014
Interest and dividend income:
Loans...................................................................................................
Investment securities:
Taxable............................................................................................
Nontaxable ......................................................................................
Interest expense:
Savings, NOW and money market deposits ........................................
Time deposits.......................................................................................
Short-term borrowings..........................................................................
Long-term debt.....................................................................................
Net interest income .........................................................................
Provision for loan losses ......................................................................
Net interest income after provision for loan losses................................
Noninterest income:
Investment Management Division income............................................
Service charges on deposit accounts...................................................
Net gains on sales of securities............................................................
Other....................................................................................................
Noninterest expense:
Salaries ...............................................................................................
Employee benefits ...............................................................................
Occupancy and equipment ..................................................................
Debt extinguishment.............................................................................
Other ..................................................................................................
$
82,456
$
70,558
$
59,209
7,981
13,686
104,123
5,344
5,107
296
7,255
18,002
86,121
3,480
82,641
2,000
2,666
1,868
2,845
9,379
22,116
6,889
9,264
1,756
12,066
52,091
7,991
13,586
92,135
2,564
5,987
183
7,795
16,529
75,606
4,317
71,289
2,044
2,577
1,324
2,813
8,758
20,680
6,021
8,798
1,084
10,108
46,691
9,359
13,408
81,976
1,955
6,171
148
6,774
15,048
66,928
3,189
63,739
2,058
2,974
141
2,228
7,401
18,885
4,833
8,880
-
9,433
42,031
Income before income taxes............................................................
Income tax expense...............................................................................
Net income......................................................................................
39,929
9,049
30,880
$
33,356
7,466
25,890
$
29,109
6,095
23,014
$
Earnings per share:
Basic....................................................................................................
Diluted .................................................................................................
Cash dividends declared per share......................................................
$1.35
$1.34
$.55
$1.23
$1.22
$.52
$1.11
$1.10
$.48
2016 Annual Report 15
OFFICERS AND OFFICIAL STAFF
OFFICERS The First of Long Island Corporation
Michael N. Vittorio
President and
Chief Executive Officer
Sallyanne K. Ballweg*
Senior Executive Vice President
*Retired
Mark D. Curtis
Senior Executive Vice President,
Chief Financial Officer and
Treasurer
Christopher Becker
Executive Vice President, Chief Risk
Officer and Corporate Secretary
Paul J. Daley
Executive Vice President
Richard Kick
Executive Vice President
Donald L. Manfredonia
Executive Vice President
Richard P. Perro
Executive Vice President
William Aprigliano
Senior Vice President and
Chief Accounting Officer
Robert J. Colosa
Vice President and Chief Auditor
OFFICIAL STAFF The First National Bank of Long Island
Administration
Michael N. Vittorio
President and
Chief Executive Officer
Sallyanne K. Ballweg*
Senior Executive Vice President
Branch Administration
Richard P. Perro
Executive Vice President
Cathy C. O’Malley
Senior Vice President
Western District Manager
Allison Stansfield
Senior Vice President
Eastern District and
Manhattan District Manager
Giuseppe Sparacino
Vice President and Branch
Operations Manager
John Cochrane
Vice President
Commercial Banking
Paul J. Daley
Executive Vice President
Nassau County Regional Office
Jane F. Reed
Senior Vice President and
Team Leader
Peter Piscitello
Vice President
Nicholas E. Ulrich
Vice President
Joseph Wasilus
Vice President
Suffolk County Regional Office
Margaret M. Curran-Rusch
Senior Vice President and
Team Leader
Finance
Mark D. Curtis
Senior Executive Vice President,
Chief Financial Officer and Cashier
Stephen Durso
Vice President
Alessandro Scichilone
Vice President
Richard B. Smith
Vice President
Municipal Banking
Yve L. Sullivan
Vice President
Commercial Lending
John G. Fitzpatrick
Vice President
Richard O’Rourke
Vice President
Kevin J. Talty
Vice President
Credit Administration
Donald L. Manfredonia
Executive Vice President, Senior
Lending Officer and Deputy CRA
Officer
Credit Department
Anne Marie Stefanucci
Senior Vice President, Credit Risk
and Administration Officer
Lisa M. Woltmann
Vice President, Assistant Manager
Suzan Haas
Vice President
Kelly McCormack
Vice President
Andrea Volpe
Vice President
William Aprigliano
Senior Vice President and
Chief Accounting Officer
Jay McConie
Senior Vice President and
Chief Investment Officer
Maria E. Doyle
Vice President and Controller
Dina M. Cascione
Vice President and Financial
Reporting Manager
Matthew J. Mankowski
Vice President and
Assistant Controller
Human Resources
Susan J. Hempton
Vice President and Director
Rita Quinn
Vice President and Human
Resources Generalist
Investment Management
Division
Jane Carmody
Vice President and
Managing Director
JoAnne C. Buckley
Vice President
Sharon E. Pazienza
Vice President and Trust Officer
Jean-Pierre C. Prusack
Vice President and
Portfolio Manager
Marketing
Laura C. Ierulli
Vice President and Director
Retail Lending & Facilities
Administration
Richard Kick
Executive Vice President, Senior
Retail Lending Officer,
Senior Facilities Administrator and
Chief Security Officer
Rose Florio-Campanaro
Senior Vice President and
Loan Center Department Manager
Frederick T. Hughes
Vice President and Residential
Mortgage Sales Department
Manager
Marina Salazar
Vice President and Assistant
Residential Mortgage Sales
Manager
Daniel Sapanara
Vice President and
General Services Manager
Risk Management
Christopher Becker
Executive Vice President and
Chief Risk Officer
Tanweer S. Ansari, Esq.
Senior Vice President and
Chief Compliance Officer
Robert J. Colosa
Vice President and Chief Auditor
Technology & Operations
Jose Diaz
Senior Vice President
Conrad Lissade
Vice President and Director of
Information Security
Kristen Valkuchak
Vice President and Operations
Manager
Daniel J. Viola
Vice President and Director of
Information Technology
General Counsel
Schupbach, Williams &
Pavone LLP
SEC Counsel
Luse Gorman, PC
Independent Auditors
Crowe Horwath LLP
Annual Report on Form 10-K
A copy of the Corporation’s annual report on Form 10-K for
2016 may be obtained without charge upon written request
to Mark D. Curtis, Senior Executive Vice President, Chief
Financial Officer and Treasurer, The First of Long Island
Corporation, 10 Glen Head Road, PO Box 67, Glen Head,
New York 11545-0067.
Executive Office
The First of Long Island Corporation
10 Glen Head Road, Glen Head, New York 11545
(516) 671-4900 | www.fnbli.com
Transfer Agent and Registrar
Continental Stock Transfer & Trust Company
17 Battery Place – 8th Floor
New York, NY 10004
(800) 509-5586
cstmail@continentalstock.com
Annual Meeting Notice
The Annual Meeting of Stockholders will be held
at The Carltun, Eisenhower Park, East Meadow,
New York on Wednesday, April 19, 2017 at 3:30 P.M.
16 The First of Long Island Corporation
BUSINESS ADVISORY BOARD
Joseph R. Albanese, Esq.
Managing Partner
Albanese & Albanese
LLP
Nicola Arena
Chairman
Mediterranean Shipping
Co. (USA)
Richard Arote
Chief Executive Officer
A.D.E. Systems Inc.
Thomas Burke
Chief Executive Officer
Ophthalmic Consultants
of Long Island
Frank DellaFera
President
Fera Pharmaceuticals,
LLC
Bernard Esquenet
Chief Executive Officer
The Ruhof Corporation
Robert Giambalvo, CPA
President
Giambalvo, Stalzer &
Company, CPAs, P.C.
Kevin J. Harding, Esq.
Partner
Harding, Burke &
Hogan, PLLC
Carmine R. Inserra
Principal, Executive
Director
NAI Long Island
David L. Katz, M.D.
President
DLK Consulting Services,
LLC
Healthcare Consulting,
Management
James D. Kiley
Partner
Kiley, Kiley, & Kiley
PLLC
John I. Martinelli
Principal
Owen Petersen & Co.,
LLP
Susan Hirschfeld Mohr
President
J. W. Hirschfeld
Agency, Inc.
James Panos, Esq.
Attorney
James Panos,
Attorney at Law
John G. Passarelli, M.D.
President, Sight M.D.
Medical Director
Long Island Eye
Surgical Care P.C.
Long Island Ambulatory
Surgery Center, LLC
Jay Pitti
Chief Executive Officer
Merrick House &
Gardens
Arthur C. Schupbach, Esq.
Partner
Schupbach, Williams &
Pavone LLP
Frank Shahery
Vice President
Convermat Corporation
Lloyd Straus
President & Chief
Operating Officer
North American
Partners in Anesthesia,
LLP
H. Craig Treiber
Chief Executive Officer
Treiber Family
Enterprises
Sal J. Turano
President
Abstracts Incorporated
Candy Udell
President
London Jewelers
Mark Udell
Chief Executive Officer
London Jewelers
Arthur Ventura
President
Badge Agency, Inc.
George J. Walsh
Partner
Thompson Hine LLP
John W. Walter
CEO & President
National Security
Systems, Inc.
Executive Vice President
Trump Management, Inc.
David Weinstein
Partner
DNA Partners LLC
Mark Wurzel
President
Calico Cottage Inc.
Robert A. Wilkie, Esq.*
Partner
Wilkie & Wilkie
*In memoriam: We express our sincere condolences
for the recent passing of Bob and are very
appreciative for his dedicated service to the Bank.
®