Welcome to our dedicated page for First of Long Island Corp/The news (Ticker: FLIC), a resource for investors and traders seeking the latest updates and insights on First of Long Island Corp/The stock.
The First of Long Island Corporation (Nasdaq: FLIC), founded in 1927, is the parent company of The First National Bank of Long Island. As the largest community bank headquartered on Long Island, First National Bank LI focuses on delivering exceptional personalized service across its extensive branch network in Long Island and Manhattan. Known as the bank "where everyone knows your name", it provides a comprehensive range of financial services to individuals, professionals, corporations, institutions, and government bodies.
First National Bank LI offers a broad spectrum of services, including saving accounts, current accounts, and capital gain accounts. The bank also specializes in providing various lending services such as commercial and residential mortgage loans, industrial loans, and small business credit scored loans. Additionally, other credit facilities are available to meet the diverse needs of its clientele.
The company is committed to modern banking solutions, offering account reconciliation services, ATM banking, bill payment, cash management services, mobile banking, online banking, and payroll services. Its core business operations generate revenue primarily through interest on loans and investment securities, along with fees on deposit accounts and income from investment management.
In recent news, The First of Long Island Corporation continuously updates its stakeholders with quarterly earnings conference calls. The most recent announcements include the Q2 2023 earnings call scheduled for July 28, 2023, and the upcoming Q3 2023 earnings call on October 27, 2023. These events provide detailed insights into the company's financial performance and future projections. Furthermore, Janet T. Verneuille has been appointed as the new Chief Financial Officer, underscoring the company's commitment to strong leadership and financial management.
With a longstanding reputation for excellence and a robust portfolio of financial products and services, First National Bank LI remains a cornerstone of the Long Island and New York City banking community. Its ongoing projects and partnerships ensure that the bank continues to meet the evolving needs of privately owned businesses, professional service firms, not-for-profits, municipalities, and individual consumers.
The First of Long Island (Nasdaq: FLIC) has declared a fourth quarter cash dividend of $0.21 per share. The dividend will be paid on January 9, 2025 to shareholders of record on December 31, 2024. The company operates through The First National Bank of Long Island, branded as First National Bank LI, serving business and consumer needs on Long Island and New York City with various lending, deposit, investment, and digital products. The bank specializes in serving small and middle market businesses, professional service firms, not-for-profits, municipalities and consumers.
The First of Long Island (FLIC) reported Q3 2024 earnings with mixed results. Net income for the nine months ended September 30, 2024, was $13.8 million ($0.61 EPS), compared to $20.2 million ($0.89 EPS) in 2023. The company saw a 17.5% decline in net interest income, though the net interest margin improved by nine basis points in Q3 compared to Q2 2024. The bank maintained strong credit quality with a stable reserve coverage ratio of 0.88%. Liquidity position remained robust with $915.7 million of available liquidity, and the leverage ratio stood at approximately 10.13%.
The First of Long Island (Nasdaq: FLIC) has declared a third quarter cash dividend of $.21 per share. This dividend will be paid on October 21, 2024 to shareholders of record on October 11, 2024.
The First of Long Island is the parent company of The First National Bank of Long Island, which operates under the brand First National Bank LI. The bank focuses on serving business and consumer needs on Long Island and in New York City, offering a wide range of lending, deposit, investment, and digital products. First National Bank LI is known for its commitment to delivering exceptional service and a 'Customer First' banking experience to small and middle market businesses, professional service firms, not-for-profits, municipalities, and consumers.
The First of Long Island (Nasdaq: FLIC) reported earnings for Q2 2024. Key highlights include:
- Net income of $9.2 million and EPS of $0.41 for the six months ended June 30, 2024
- Q2 2024 net interest margin of 1.80%, up from 1.79% in Q1 2024
- Deposit and loan growth during Q2
- Noninterest income and expense beat guidance for the second straight quarter
- Strong credit quality with reserve coverage ratio at 0.88% of total loans
- Available liquidity of approximately $1.4 billion on June 30, 2024
- Leverage ratio of 9.91% and book value per share of $16.71 on June 30, 2024
- Quarterly cash dividend of $0.21 per share declared
The First of Long Island (Nasdaq: FLIC) announced it will host an earnings conference call on July 26, 2024, at 2:00 pm Eastern Time to discuss its second-quarter financial results, which will be released post-market on July 25, 2024. Interested parties can dial in at 1 800-450-7155, or +1 857-999-9155 for international callers, using conference ID 4165075#. Participants must register by July 23, 2024, at https://www.cstproxy.com/fnbli/earnings/2024/q2/ to gain access.
An audio recording of the call will be available on the same webpage and on www.fnbli.com until August 9, 2024. The First of Long Island , the parent company of The First National Bank of Long Island, offers various financial services and products to businesses and consumers in Long Island and New York City.
The First of Long Island (Nasdaq: FLIC) announced a second-quarter cash dividend of $.21 per share.
The dividend will be paid on July 18, 2024, to shareholders recorded by July 10, 2024.
The is the parent of The First National Bank of Long Island, serving business and consumer needs in Long Island and New York City through its branch network branded as First National Bank LI.
They offer a variety of lending, deposit, investment, and digital products, emphasizing exceptional customer service.
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