Legal Proceedings
−Removed: On August 28, 2024, The First of Long Island Corporation (“FLIC”) filed an 8-K disclosing that its subsidiary, The First National Bank of Long Island was notified by a customer of suspicious wire transfer activity in July 2024 involving the customer's bank accounts.
+Added: On August 28, 2024, FLIC filed an 8-K disclosing that its subsidiary, FNBLI was notified by a customer of suspicious wire transfer activity in July 2024 involving the customer's bank accounts.
According to the 8-K, the wire transfer activity arose as the result of unauthorized access to banking information within the customer's control.
1 unchanged sentence
The net amount of funds at issue, after the initial return of recalled wires, involved in the suspicious wire transfer activity is approximately $11.1 million.
−Removed: On January 22, 2025, the customer filed suit against FLIC and The First National Bank of Long Island claiming damages of approximately $11.1 million.
−Removed: The Company and the Bank, as the successors to FLIC and The First National Bank of Long Island, vehemently disagree with the customer’s allegations and intend to vigorously defend these claims.
+Added: On January 22, 2025, the customer filed suit against FLIC and FNBLI claiming damages of approximately $11.1 million.
+Added: The Company and the Bank, as the successors to FLIC and FNBLI, vehemently disagree with the customer’s allegations and intend to vigorously defend these claims.
There have been no material changes to the risks inherent in our business from those described under Item 1A – Risk Factors of our Annual Report on Form 10-K for the year ended December 31, 2024.
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.