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First National recognized for high dividend growth

First National Bank of Long Island

First National Bank of Long Island (Credit: Newsday, 2012 / Audrey C. Tiernan)

First National Bank of Long Island, based in Glen Head, was one of only 20 U.S. banks and the only one on Long Island named in a report by business data provider SNL Financial as having cumulative dividend growth of at least 30 percent over the past five years and a minimum 2 percent annual increase.

SNL said in a Jan. 22 article that First National of Long Island’s dividend grew by 54.6 percent in five years. Its stock price increased by 80.5 percent during that period, and its shares were trading at $40.69 at 2 p.m. Tuesday on the Nasdaq composite.

First National of Long Island's total assets are $2.4 billion. It has 37 branches on Long Island and in Manhattan and plans to open two more, in Oceanside and Manhasset, this summer.

Tags: First National Bank of Long Island , banking , dividend

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