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First of Long Island Corp. nets $35.3M in just-completed common offering

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First of Long Island Corp. nets $35.3M in just-completed common offering

Glen Head, N.Y.-based Firstof Long Island Corp. closed its public offering of 1.2 million common shares at apiece, according to a May 10news release.

Sandler O'Neill & Partners LP, sole underwriter for the offering,exercised part of its overallotment option, buying 100,000 more common shares atthe same per-share price.

Gross proceeds totaled $37.7 million and net proceeds came inat approximately $35.3 million.

Proceeds are set to go toward general corporate purposes, whichinclude support for organic growth and financing possible acquisitions of branchesor fee-based businesses.