1N & ConnectOne Bank Enter Merger Agreement

Dear Valued Clients,

I am excited to announce that The First National Bank of Long Island recently entered into a merger agreement with ConnectOne Bank, a banking industry leader in the New York Metropolitan area. This merger represents a significant milestone in our journey and a powerful step forward for our company. 

More details on this transaction can be found in the recently issued joint press release.

Over the past 97 years, we have worked diligently to build a client-focused organization rooted in community, and we’ve delivered on the commitment through our exceptional and personalized service for the businesses, not-for-profits, municipalities, individuals, and families who bank with us — joining forces with ConnectOne begins the next chapter in our story. 

The merger is a natural fit as both ConnectOne and The First National Bank of Long Island share a deep commitment to putting clients at the center of our businesses. The core of our business — our dedication to your success — will remain unchanged. The same faces you’ve come to know and trust will continue to be here for you, providing the same service you’ve come to expect from us. ConnectOne already has a high level of familiarity with the Long Island market, having opened its first Long Island branch in 2018.

Together, we will leverage the strengths, expertise, and resources of both companies to offer our clients the muscle and support of a $14 billion institution with a people-first culture backed by modern infrastructure. This partnership is the coming together of two market-adjacent companies that will be positioned for greater success, and I am proud to continue to support the combined company as the Board’s Vice Chairman. Many of our senior leaders, customer facing staff and back office support employees will join ConnectOne Bank’s industry leading team.

Customer Service Enhancements:

• Expanded reach across New York, New Jersey & South Florida, providing our clients with access to over twenty additional locations outside of our local markets
• Little, if any, change to our existing branch network as there is only minor overlap
• Enhanced technology offerings including online deposit onboarding, cloud-based loan origination, and a modern escrow management solution
• A robust SBA Lending Division
• Experience and proficiency to round out commercial and industrial relationship needs 
• Expertise in commercial real estate with a specialty in construction and development lending
• Franchise lending opportunities through their Industry-leading brand BoeFly, with national presence

We are expecting this transaction to close mid-2025, at which point 1N will merge into ConnectOne Bank. 

At present, there will not be any impact to your accounts or banking, and we will continue to communicate any changes with you in the coming months. As always, our team is here to answer any questions you may have.

We are incredibly optimistic about this next chapter for our bank and all that we’ll be able to offer through ConnectOne Bank. I look forward to keeping you updated as the merger progresses and on the upcoming expanded service opportunities we can offer you.

Sincerely,

Chris Becker

President & Chief Executive Officer