On September 5, 2024, The First of Long Island Corporation, Melville, New York, announced the signing of a merger agreement with ConnectOne Bancorp, Inc., Englewood Cliffs, New Jersey, pursuant to which First of Long Island will merge with and into ConnectOne in an all-stock transaction valued at approximately $284 million.  The board of directors of the surviving company will be composed of the current directors of ConnectOne and three members of the current First of Long Island board of directors, including First of Long Island CEO Christopher Becker who will serve as Vice Chairman.

The First of Long Island Corporation is the holding company for The First National Bank of Long Island and has approximately $4.2 billion in total assets.

ConnectOne Bancorp, Inc. is the holding company for ConnectOne Bank and has approximately $9.7 billion in total assets.

Luse Gorman is serving as legal counsel to First of Long Island in the transaction. The Luse Gorman team consists of John Gorman, Greg Sobczak, Max Seltzer, and Zachary Davis.

Luse Gorman has acted as counsel on more than 100 bank M&A transactions during the past seven years and more bank M&A transactions than any other law firm in the nation over the past 20 years. To learn more about our mergers and acquisitions practice, please visit our website.