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First of Long Island reports 18 percent net income rise

First National Bank of Long Island's Babylon branch

First National Bank of Long Island's Babylon branch is seen here.

Glen Head-based the First of Long Island Corp., parent company of the First National Bank of Long Island, said Friday its second quarter net income rose 18 percent to $9.1 million.

The company said the increase was partly attributable to an increase in net interest income of $2.5 million, as well as refunds of sales tax and telecommunications charges.

First of Long Island reported assets of $3.7 billion as of June 30, up 10 percent since June 2016.

The bank is opening a branch in Setauket next week, giving it 47 branches in total.

“We continue to branch in good, local communities and we are growing in Brooklyn and Queens, which is giving us good, core deposits,” Mark D. Curtis, chief financial officer and treasurer at First of Long Island, said in an interview.

Curtis said the bank has six branches in New York’s five boroughs, and plans to add branches in Bay Terrace, Little Neck and Astoria, Queens, as well as Cobble Hill, Brooklyn, by this time next year.

First of Long Island shares were unchanged at $28.35 in morning trading. Its shares are up 39 percent in the last year.

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