Welcome to our dedicated page for First Long Is news (Ticker: FLIC), a resource for investors and traders seeking the latest updates and insights on First Long Is stock.
Overview
First Long Is Corp (FLIC) stands as a prominent holding company in the financial sector, offering a wide range of financial services and banking solutions. As the parent organization of a major community bank headquartered on Long Island, FLIC delivers services encompassing commercial banking, investment management, and digital banking. This comprehensive approach ensures that individual, corporate, institutional, and government customers receive personalized and innovative financial solutions in a competitive market.
History and Legacy
Established decades ago, FLIC has roots deeply embedded in the tradition of community banking. The company has evolved alongside the regional economic landscape, consistently expanding its services to meet changing customer demands. Its longstanding heritage is marked by a commitment to personalized service, ensuring that every client, from small business owners to large institutional clients, experiences a tailored banking experience.
Core Business Areas
At its core, First Long Is Corp operates through a diversified financial services portfolio that includes:
- Deposit Services: Offering savings accounts, current accounts, and capital gain accounts that cater to the varying needs of its customer base.
- Lending Services: Providing an array of loans such as residential and commercial mortgage loans, industrial loans, and specialized small business credit facilities which are designed to fuel economic growth in business communities.
- Digital and ATM Banking: Enabling clients to manage their accounts via online platforms and mobile banking solutions, ensuring accessibility and convenience.
- Ancillary Financial Services: Including account reconciliation, bill payment services, cash management, and payroll processing that streamline financial operations for businesses and consumers alike.
Revenue Model and Financial Services
FLIC generates revenue primarily through interest earned on loans and income from investment securities, accompanied by fees on deposit accounts and income derived from its investment management services. This multi-faceted revenue model reflects the company’s integrated approach to banking, where both traditional lending and modern digital services are harnessed to provide a stable financial foundation.
Market Position and Competitive Landscape
Positioned as a significant player among community banks, FLIC leverages its deep regional roots to deliver personalized, customer-first banking experiences. Its strategic geographic footprint, primarily on Long Island and in New York City, allows it to cater effectively to small and middle market businesses, professional service firms, and consumers with a focus on hands-on, individualized service. FLIC’s competitive advantage lies in its balanced mix of traditional banking services and digital innovation.
Operational Excellence and Technological Integration
Emphasizing operational efficiency, First Long Is Corp has invested in digital platforms and technological enhancements that not only improve customer accessibility but also streamline internal processes. The integration of mobile banking, online banking, and sophisticated cash management services ensures that clients receive 24/7 service coupled with real-time financial oversight. This melding of tech and tradition reinforces the company’s reputation as both a stalwart of conventional banking and a forward-thinking financial institution.
Commitment to Personalized Service
The hallmark of FLIC’s success is its dedication to personalized service. The company ensures that every customer interaction is marked by an understanding of personalized financial needs, forming a vital link between the community and the banking industry. This customer-centric philosophy extends to tailored loan products, customized deposit packages, and a responsive digital interface that caters to evolving consumer preferences.
Conclusion
First Long Is Corp exemplifies a robust and diversified approach to financial services. With strong community ties, an extensive range of financial products, and a clear commitment to the personalized needs of its clients, FLIC stands resilient in a competitive environment. Its unwavering dedication to marrying traditional banking principles with modern digital solutions continues to define its identity as a comprehensive financial services provider, ensuring that it remains a cornerstone of community-focused banking and financial innovation.
The First of Long Island (Nasdaq: FLIC) has declared a first quarter cash dividend of $0.21 per share, scheduled for payment on April 3, 2025 to shareholders of record as of March 24, 2025.
The company, through its subsidiary The First National Bank of Long Island, operates under the brand First National Bank LI, serving business and consumer needs across Long Island and New York City. The bank specializes in providing comprehensive banking services including lending, deposit, and investment products, with a focus on delivering exceptional service to small and middle market businesses, professional firms, non-profits, municipalities, and consumers.
The First of Long Island (FLIC) reported financial results for 2024, with net income of $17.1 million and diluted EPS of $0.75, compared to $26.2 million and $1.16 in 2023. The company experienced a 15.7% decline in net interest income of $13.6 million, while noninterest income increased by 22.8% year-over-year.
Key performance metrics for 2024 included an ROA of 0.40%, ROE of 4.49%, efficiency ratio of 79.00%, and net interest margin of 1.83%. The company maintained strong asset quality with a stable reserve coverage ratio of 0.88%. The company is preparing for its pending merger with ConnectOne Bancorp, Inc., and declared a quarterly cash dividend of $0.21 per share.
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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