m_and_a
confidence high
sentiment positive
materiality 0.85
ConnectOne completes acquisition of First of Long Island, creating $14B asset bank
ConnectOne Bancorp, Inc.
- FLIC shareholders received 0.5175 shares of CNOB per share; cash in lieu of fractional shares.
- Combined company has ~$14B total assets, $11B deposits, $11B loans, 60+ branches.
- Board expanded to 15 members; former FLIC CEO Christopher Becker named Vice Chairman.
- Former FLIC directors Peter Quick and Ed Haye appointed to ConnectOne board.
- Bank operations consolidated under ConnectOne brand across NY, NJ, and Southeast Florida.
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