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
                              --------------------------------------------------
                   7.         SOLE DISPOSITIVE POWER

                              0 shares
                              --------------------------------------------------
                   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
                                                    ----------------------------
                                                               Date


                                                    HOVDE CAPITAL ADVISORS LLC


                                                    BY:  /s/ Eric D. Hovde
                                                    ----------------------------
                                                    Eric D. Hovde
                                                    Its: Managing Member