GLEN HEAD, N.Y., July 12, 2010 (GLOBE NEWSWIRE) -- The First of Long Island Corporation (Nasdaq:FLIC) earned $1.31 per share for the first half of 2010, an increase of $.30, or 29.7%, over $1.01 per share earned in the same period last year. Net income increased by $2,287,000, or 31.2%, from $7,336,000 for the first half of 2009 to $9,623,000 for the current six month period. Returns on average assets (ROA) and equity (ROE) were 1.19% and 15.90%, respectively, for the first six months of 2010 as compared to 1.14% and 13.85% for the same period last year. Earnings for the second quarter of 2010 were $.68 per share versus $.63 per share for the first quarter. The increase for the quarter is primarily attributable to an increase in gains on sales of securities of $587,000 which contributed $.05 to per share earnings.
The First Of Long Island Corporation Announces Increase In Earnings For The Six And Three Month Periods Ended June 30, 2010
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