Raymond James Investor MeetingsSeptember 9 – 10, 2020

Jay McConieEVP, CFO & Treasurer

Christopher BeckerPresident & CEO

Christopher HiltonEVP, CLO

WELCOME

This presentation contains forward-looking statements that are based on The First ofLong Island Corporation’s (“FLIC”) assumptions and beliefs. Such statements pertainto the outlook for FLIC’s business, plans and objectives and market trends and othermatters. These forward-looking statements are subject to certain risks anduncertainties that could cause actual results to differ materially from those discussedin such statements and no assurance can be given that the results in any forward-looking statement will be achieved. For these statements, FLIC claims the protectionof the safe harbor for forward-looking statements contained in the Private SecuritiesLitigation Reform Act of 1995. Any forward-looking statement speaks only as of thedate on which it is made, and we disclaim any obligation to subsequently revise anyforward-looking statement to reflect events or circumstances after such date or toreflect the occurrence of anticipated or unanticipated events.

Certain factors could cause FLIC’s future results to differ materially from thoseexpressed or implied in any forward-looking statements contained in this presentation.These factors include the factors discussed in the “Risk Factors” section of theCorporation’s filings with the Securities and Exchange Commission and any othercautionary statements, written or oral, which may be made or referred to in connectionwith any such forward-looking statements. Since it is not possible to foresee all suchfactors, these factors should not be considered as complete or exhaustive.

Safe Harbor Statement

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3

Leadership Team

Christopher BeckerPresident and CEO

FLIC: 9 yearsIndustry: +30 years

Christopher HiltonEVP, Chief Lending

OfficerFLIC: 4 years

Industry: 20 years

Jay McConieEVP, CFO &

TreasurerFLIC: 5 years

Industry: 18 years

Richard PerroEVP, Chief Retail

OfficerFLIC: 14 years

Industry: 20 years

Anne Marie Stefanucci

EVP, Chief Credit Officer

FLIC: 9 yearsIndustry + 30 years

Janet VerneuilleEVP, Chief Risk

OfficerFLIC: 2 years

Industry: +20 years

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5

Our Footprint

Branch Distribution

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49 Branches Currently• 39 in Long Island• 1 in Manhattan• 6 in Queens• 3 in Brooklyn

• Closed and consolidated three branch locations on August 31, 2020.

• Reduced hours in 6 locations in 2020.

7

Current Conditions

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Current Conditions & Strategic ObjectivesCurrent Economic Conditions• COVID-19 pandemic has created significant uncertainty in the economy

• Challenging interest rate environment

• Strong competition for loans

Objectives • Improve net interest margin by growing relationship-based commercial loans and

deposits

• Continue to attract and hire seasoned Commercial Lenders

• Optimize and expand our branch network on Long Island and the boroughs of New York City

• Increase brand awareness

• Grow fee income to diversify revenue sources and contribution of non-interest income

• Enhancing our ability to digitally source and service accounts

$1,681

$835

$447

$119 $104 $-

$1,529

$798

$434

$120 $105 $166

$0

$250

$500

$750

$1,000

$1,250

$1,500

$1,750

$2,000

Residential Multifamily Other CRE Owner Occ C & I SBA PPP

12/31/2019 6/30/2020

Loan Mix*

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(in m

illio

ns)

*Excludes $1 million and $2 million in other loans for the 2020 and 2019 periods, respectively, that fall outside the stated categories.

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Current Year Results

Highlights for Six Months Ended 6/30/20

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• Net Income and EPS were $19.9 million and $.83, respectively, compared to $21.6 million and $.86.

• Net Interest Margin was 2.63% versus 2.57%. • ROA and ROE were 0.96% and 10.34%, respectively, compared to 1.03% and

11.15%.• Cash Dividends Per Share increased 5.9% to $.36 from $.34.• Book Value Per Share increased 3.0% to $16.34 at 6/30/20 from $15.87 at 6/30/19.• Effective Tax Rate was 16.1% versus 16.9%.• The Bank adopted the Current Expected Credit Loss model (“CECL”) on January 1,

2020. • The provision for credit losses was $2.5 million for the six months ended June 30,

2020. The credit losses were largely attributable to the COVID-19 pandemic and includes $4.2 million to reflect current and forecasted economic conditions and $576,000 for net charge-offs, partially offset by a decline in outstanding loan balances and lower historical loss rates.

All comparisons are of the current six-month period to the same period last year unless otherwise indicated.

• Net Income and EPS were $10.8 million and $.45, respectively, compared to $10.7 million and $.43.

• Net Interest Margin was 2.64% versus 2.58%. • ROA and ROE were 1.02% and 11.30%, respectively, compared to 1.02% and

11.00%.• Cash Dividends Per Share increased 5.9% to $.18 from $.17.• Cost of interest-bearing deposits declined 51 basis points to .96% and cost of interest-

bearing liabilities declined 43 basis points to 1.14%.• Provided $621 million in loan modifications and originated $166 million in SBA

Paycheck Protection Program (“PPP”) loans in support of customers during the pandemic.

• Effective Tax Rate was 16.8% versus 16.0%.• Adopted the Community Bank Leverage Ratio framework in 1Q 2020. The

Corporation’s Leverage Ratio was 9.3% at June 30, 2020.

Highlights for the Second Quarter of 2020

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All comparisons are of the current quarter to the same quarter last year unless otherwise indicated.

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Long Track Record of Success

Historical Highlights

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• Steady earnings growth

• Steady book value growth

• Steady dividend growth with a current yield of 4.7%*

• Maintenance of strong credit quality even through the Great Recession

• Strong operating efficiency in a high cost geography

• Organic growth strategy

• High quality capital structure consisting solely of common stock

• Capital level optimized as needed through Dividend Reinvestment/Stock Purchase Program, Common Stock Offerings and Share Repurchase Program

• Competitive product set

• High touch service

• Experienced Management team

*Dividend yield is based on closing stock price of $15.37 on August 31, 2020.

$100 $100

$181.78

$132.86

$0

$50

$100

$150

$200

$250

$300

Dividends Reinvested Simple Price Appreciation

1/1/10 7/31/20

$11.85$12.90

$14.37$15.27

$16.26

$.00

$2.00

$4.00

$6.00

$8.00

$10.00

$12.00

$14.00

$16.00

$18.00

2015 2016 2017 2018 2019

$1.22

$1.34

$1.43

$1.63 $1.67

$.00

$.20

$.40

$.60

$.80

$1.00

$1.20

$1.40

$1.60

$1.80

$2.00

2015 2016 2017 2018 2019

$25.9

$30.9

$35.1

$41.6 $41.6

$0.0

$5.0

$10.0

$15.0

$20.0

$25.0

$30.0

$35.0

$40.0

$45.0

$50.0

2015 2016 2017 2018 2019

Net Income5 Year CAGR = 12.5%

(in m

illio

ns)

Earnings Per Share5 Year CAGR = 8.7%

Book Value Per Share5 Year CAGR = 7.7%

FLIC Stock Price Performance10.6 Year Returns

CAGR = 5.8% CAGR = 2.7%

15

$2,285

$2,609$2,822

$3,085 $3,144

$0

$500

$1,000

$1,500

$2,000

$2,500

$3,000

$3,500

$4,000

2015 2016 2017 2018 2019

$2,248

$2,545

$2,950

$3,263 $3,188

$0

$500

$1,000

$1,500

$2,000

$2,500

$3,000

$3,500

$4,000

2015 2016 2017 2018 2019

$3,130

$3,510

$3,895$4,241

$4,098

$0

$500

$1,000

$1,500

$2,000

$2,500

$3,000

$3,500

$4,000

$4,500

$5,000

2015 2016 2017 2018 2019

Total Assets5 Year CAGR = 8.5%

(in m

illio

ns)

Total Loans5 Year CAGR = 12.1%

(in m

illio

ns)

(in m

illio

ns)

Total Deposits5 Year CAGR = 9.6%

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COVID-19 and Credit

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Changes during COVID-19

Customers• The Bank’s participation in the SBA’s PPP for small business customers began in the

second quarter of 2020

• 687 SBA PPP loans with a carrying value of $166 million were originated as of June 30, 2020

• The Bank entered into 775 loan forbearance agreements with an outstanding balance of $621 million as of June 30, 2020

• At the end of July 2020, approximately $217 million loan forbearances came due, of which $191 million completed deferral and resumed making payments

• At the end of August 2020, approximately $315 million loan forbearances came due, of which $284 million completed deferral and resumed making payments

• Approximately 89% of loans granted forbearance have resumed making payments

• All forbearance loans are scheduled to resume payment by 10/1/2020

• Waived fees for customers during the COVID-19 pandemic

• Participating in State of New York Main Street Lending Program

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Changes during COVID-19

Employees• Safety and health of employees, customers and the community is our top priority

• We are following all COVID-19 safety requirements

• The Bank has resumed in-person banking and most employees are working in the office

• Nearly all employees were working remotely for several months and have the ability to work remotely at a moments notice

$163

$423

$12 $23 21

67

1 0

Residential Mortgages Commercial Mortgages C&I Small Business

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Loans in Forbearance• $621 million in loan forbearances are primarily backed by mortgages at June 30, 2020

• $89 million in loan forbearances remaining at August 31, 2020

• Forbearances are either deferral of principal and interest, principal, or escrow or combination thereof

• Repayment of deferred principal and interest is generally not due until loan maturityForbearance Loans

June 30, 2020 vs. August 31, 2020(in millions)

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Credit Outlook

• Strong credit history

• At June 30, 2020:

Past Due and Accruing representing 0.02% of total loans

Ratio of Classified Loans to Tier 1 Capital & Allowance for Credit Losses was 2.59%

• New York Metro area economy is slowly opening up

$2,729

$4,841

$6,964

2Q19 1Q20 2Q20

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Credit Quality2Q2020 Highlights• Non-performing loans as a % of gross loans was 0.22% • Annualized net charge-offs as a % of average loans was 0.04%

Non-Performing Loans ($000s)

Non-Performing Loans as a % of Gross Loans

0.08% 0.15% 0.22%

$1,035

$430

$576

2Q19 1Q20 2Q20

YTD Net Charge-offs ($000s)

Net Charge-offs as a % of Average Loans

0.06% 0.05% 0.04%

1.18%1.15%

0.94% 0.92%

1.01%1.08%

1.13%

2016 2017 2018 2019 1/1/20 CECL 2Q20 2Q20 ExcludingSBA PPP

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Coverage Ratio

ACL / Total Loans

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FLIC Versus Peers

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First of Long Island Corporation

Mid-Atlantic Bank1 Average

Nationwide Bank2 Average

Tangible book value per share through June 30, 20201) Includes publicly-traded banks and thrifts headquartered in the Mid-Atlantic region with total assets between $1 billion and $5 billion2) Includes publicly-traded banks and thrifts nationwide with total assets between $1 billion and $5 billionSource: SNL

Tangible Book Value Per Share

5-Year CAGR

15-Year CAGR

10-Year CAGR

7.99%

5.80%

5.97%

7.64%

6.08%

6.74%

7.50%

6.38%

7.44%

Comparison of FLIC performance metrics for the six months ended June 30, 20201) Includes publicly-traded banks and thrifts headquartered in the Mid-Atlantic region with total assets between $1 billion and $5 billion2) Includes publicly-traded banks and thrifts nationwide with total assets between $1 billion and $5 billionSource: SNL

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Performance Measures

Performance MeasuresROA

ROE

Efficiency Ratio

Nonaccrual Loans/Loans

Net Chargeoffs/Average Loans

Mid-Atlantic10.53%

5.78%

65.26%

0.67%

0.18%

Nationwide20.77%

7.29%

63.68%

0.59%

0.11%

0.96%

10.34%

52.59%

0.22%

0.04%

FLICPeer Averages

Sheet1

Peer Group Comparison

3/31/18

FLICFLIC

1.03%12.50%

11.30%50.64%

52.78%0.03%

0.06%0.02%

0.02%

FLIC - 3 ME 3/312/18

Chargeoffs304,682Chargeoffs74,112

68,79868,798

373,480142,910

Recoveries7,600Recoveries1,148

99,3210

106,9211,148

Net Chargeoffs266,559Net Chargeoffs141,762

Annualized Net Chargeoffs Based on days537,536Annualized Net Chargeoffs Based on days574,924

Average Loans3,127,670Average Loans3,035,604

Net Chargeoffs to Average Loans0.017%Net Chargeoffs to Average Loans0.019%

Efficiency RatioEfficiency Ratio

Noninterest Expense30,575Noninterest Expense14,868

Net Interest Income (T/E) Plus Nonint Income58,841Net Interest Income (T/E) Plus Nonint Income29,361

51.96%50.64%

Sheet1

Peer Group Comparison

Peer Averages3/31/18

FLIC

12.50%

50.64%

0.03%

0.02%

FLIC - 3 ME 3/312/18

ChargeoffsChargeoffs74,112

68,798

142,910

RecoveriesRecoveries1,148

0

1,148

Net ChargeoffsNet Chargeoffs141,762

Annualized Net Chargeoffs Based on daysAnnualized Net Chargeoffs Based on days574,924

Average LoansAverage Loans3,035,604

Net Chargeoffs to Average LoansNet Chargeoffs to Average Loans0.019%

Efficiency RatioEfficiency Ratio

Noninterest ExpenseNoninterest Expense14,868

Net Interest Income (T/E) Plus Nonint IncomeNet Interest Income (T/E) Plus Nonint Income29,361

50.64%

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