SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
UNDER THE EXCHANGE ACT OF 1934
(Amendment No. 2)
FIRST OF LONG ISLAND CORPORATION
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(Name of Issuer)
Common Stock, $0.10 par value per share
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(Title of Class of Securities)
320734106
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(CUSIP Number)
DECEMBER 31, 2009
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(Date of Event which Requires Filing of this Statement)
Check the appropriate box to designate the rule pursuant to which this Schedule
is filed:
[X] Rule 13d-1(b) [ ] Rule 13d-1(c) [ ] Rule 13d-1(d)
* The remainder of this cover page shall be filled out for a reporting person's
initial filing on this form with respect to the subject class of securities, and
for any subsequent amendment containing information which would alter
disclosures provided in a prior cover page.
The information required on the remainder of this cover page shall not be deemed
to be "filed" for the purpose of Section 18 of the Securities Exchange
Act of 1934 ("Act") or otherwise subject to the liabilities of that section of
the Act but shall be subject to all other provisions of the Act (however, see
the Notes).
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CUSIP NUMBER 320734106
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1. NAMES OF REPORTING PERSONS. I.R.S. IDENTIFICATION NOS. OF ABOVE
PERSONS (ENTITIES ONLY).
Hovde Capital Advisors LLC / 03-0430205
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2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a)[ ]
(b)[ ]
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3. SEC Use Only
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4. CITIZENSHIP OR PLACE OF ORGANIZATION
Organized: State of Delaware
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NUMBER OF 5. SOLE VOTING POWER
SHARES
BENEFICIALLY 0 shares
OWNED BY --------------------------------------------------
EACH 6. SHARED VOTING POWER
REPORTING
PERSON WITH 0 shares
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7. SOLE DISPOSITIVE POWER
0 shares
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8. SHARED DISPOSITIVE POWER
0 shares
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9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
0 shares
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10. CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
(see Instructions). [ ]
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11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
0.0%
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12. TYPE OF REPORTING PERSON
IA
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Item 1.
The Name of the Issuer is First of Long Island Corporation (the "Issuer").
The address of the Issuer's Principal Executive Offices is 10 Glen Head Road,
Glen Head, NY 11545.
Item 2.
The person filing this statement is Hovde Capital Advisors LLC (the
"Investment Manager" or "Reporting Person"), and the address of its Principal
Business Office is 1826 Jefferson Place, N.W., Washington, D.C. 20036. The
Reporting Person is a limited liability company organized under the laws of the
State of Delaware. The class of securities to which this statement relates is
the Issuer's common stock, with a $0.10 par value per share (the "Securities" or
"Shares"). The CUSIP number of the Securities is 320734106. The Investment
Manager manages certain accounts (the "Managed Accounts"), which were the direct
owners of the Securities.
Item 3. If this statement is filed pursuant to sections 240.13d-1(b) or
240.13d-2(b) or (c), check whether the person filing is a:
(a)[ ] Broker or dealer registered under section 15 of the Act (15 U.S.C.
78o).
(b)[ ] Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c).
(c)[ ] Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C.
78c).
(d)[ ] Investment company registered under section 8 of the Investment
Company Act of 1940 (15 U.S.C.80a-8).
(e)[X] An investment adviser in accordance with Section
240.13d-1(b)(1)(ii)(E);
(f)[ ] An employee benefit plan or endowment fund in accordance with section
240.13d-1(b)(1)(ii)(F);
(g)[ ] A parent holding company or control person in accordance with section
240.13d-1(b)(1)(ii)(G);
(h)[ ] A savings associations as defined in Section 3(b) of the Federal
Deposit Insurance Act (12 U.S.C. 1813);
(i)[ ] A church plan that is excluded from the definition of an investment
company under section 3(c)(14) of the Investment Company Act of 1940
(15 U.S.C. 80a-3);
(j)[ ] Group, in accordance with section 240.13d-1(b)(1)(ii)(J).
Item 4. Ownership
Provide the following information regarding the aggregate number and
percentage of the class of securities of the issuer identified in Item 1.
(a) Amount beneficially owned: 0.
(b) Percent of class: 0.0%.
(c) Number of shares as to which the person has:
(i) Sole power to vote or to direct the vote: 0.
(ii) Shared power to vote or direct the vote: 0.
(iii) Sole power to dispose or to direct the disposition of: 0.
(iv) Shared power to dispose or to direct the disposition of: 0.
Item 5. Ownership of Five Percent or Less of a Class
If this statement is being filed to report the fact that as of the date
hereof the reporting person has ceased to be the beneficial owner of more than
five percent of the class of securities, check the following [X].
Item 6. Ownership of More than Five Percent on Behalf of Another Person
Not Applicable
Item 7. Identification and Classification of the Subsidiary Which Acquired the
Security Being Reported on By the Parent Holding Company
Not Applicable
Item 8. Identification and Classification of Members of the Group
Not Applicable
Item 9. Notice of Dissolution of Group
Not Applicable
Item 10. Certification
By signing below I certify that, to the best of my knowledge and belief,
the securities referred to above were acquired and are held in the ordinary
course of business and were not acquired and are not held for the purpose of or
with the effect of changing or influencing the control of the issuer of the
securities and were not acquired and are not held in connection with or as a
participant in any transaction having that purpose or effect.
SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief, I
certify that the information set forth in this statement is true, complete and
correct.
02/04/2010
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Date
HOVDE CAPITAL ADVISORS LLC
BY: /s/ Eric D. Hovde
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Eric D. Hovde
Its: Managing Member