ConnectOne Bancorp completes merger with First of Long Island

ConnectOne Bancorp (CNOB) announced the completion of its previously announced merger with The First of Long Island (FLIC) Corporation. With the completion of the transaction, the combined company is operating under the ConnectOne brand, with approximately $14 billion in total assets, $11 billion in total deposits and $11 billion in total loans. ConnectOne now offers a powerful retail network of 60+ branches spanning New York, New Jersey, and Southeast Florida, where clients can benefit from personalized service, expanded expertise and customizable product offerings. In accordance with the terms of the Agreement and Plan of Merger, First of Long Island merged with and into ConnectOne Bank. First of Long Island shareholders received 0.5175 shares of ConnectOne common stock for each share of FLIC common stock owned. FLIC shareholders also received cash in lieu of any fractional shares they would have otherwise received in the merger. Following the closing, and pursuant to the terms of the merger agreement, ConnectOne’s Board of Directors has been expanded to 15 members. Christopher Becker, former President and CEO of The First National Bank of Long Island and The First of Long Island Corporation, has been appointed Vice Chairman of ConnectOne. Joining him on the Board are Peter Quick and Ed Haye, both of whom served as independent directors on the First of Long Island board.