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First of Long Island Corp/The - FLIC STOCK NEWS

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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.

Rhea-AI Summary
The First of Long Island Corporation (FLIC) reported a decline in net income and earnings per share for the quarter and year ended December 31, 2023. The net interest margin decreased, impacting financial ratios. The decline in net interest income was driven by an increase in interest expense and a decrease in noninterest income. The company's return on average assets, return on average equity, net interest margin, and efficiency ratio all declined. Additionally, the Bank's liquidity decreased, while the capital position remained strong. Management is optimistic about the future, expecting improvements in the net interest margin and pursuing ways to reduce noninterest expenses.
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The First of Long Island Corporation (Nasdaq: FLIC) will host an earnings conference call on January 26, 2024, at 2:00 pm Eastern time to discuss fourth-quarter results. Financial results will be released after the market closes on January 25, 2024. Investors and analysts interested in listening and asking questions must register at webpage https://www.cstproxy.com/fnbli/earnings/2023/q4/ by January 23, 2024. The First of Long Island Corporation is the parent company of The First National Bank of Long Island, focusing on business and consumer needs on Long Island and in New York City.
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The First of Long Island Corporation (Nasdaq: FLIC) has declared a fourth quarter cash dividend of $.21 per share, to be paid on January 11, 2024. As the parent company of The First National Bank of Long Island, it focuses on business and consumer needs in Long Island and New York City, offering a range of financial products and exceptional customer service.
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The First of Long Island Corporation (FLIC) reported earnings for Q3 2023, with net income of $6.8 million, a decrease of $99,000 compared to Q2 2023. Net interest income declined by $409,000 or 1.9% due to the current rate environment. Noninterest income declined by $438,000. The Company announced a change in executive leadership, with Janet T. Verneuille becoming the new CFO.
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The First of Long Island Corporation will host an earnings conference call on October 27, 2023, to discuss third-quarter results.
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The First of Long Island Corporation (FLIC) declared a third quarter cash dividend of $.21 per share, to be paid on October 19, 2023. FLIC is the parent company of The First National Bank of Long Island, which focuses on business and consumer needs in Long Island and New York City.
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The First of Long Island Corporation reported earnings for the six months ended June 30, 2023. Net income decreased by $11.2 million compared to the same period last year, primarily due to a decline in net interest income and a loss on sale of securities. The Bank's net interest margin also decreased. The provision for credit losses decreased by $2.2 million. Noninterest income declined, while noninterest expense increased slightly. Liquidity remained strong, and the Bank continues to focus on commercial, relationship-based business.
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FAQ

What is the current stock price of First of Long Island Corp/The (FLIC)?

The current stock price of First of Long Island Corp/The (FLIC) is $13.44 as of February 4, 2025.

What is the market cap of First of Long Island Corp/The (FLIC)?

The market cap of First of Long Island Corp/The (FLIC) is approximately 293.5M.

What services does The First National Bank of Long Island provide?

The bank offers saving accounts, current accounts, capital gain accounts, commercial and residential mortgage loans, industrial loans, small business loans, and other credit facilities. They also provide account reconciliation, ATM banking, bill payment, cash management, mobile banking, online banking, and payroll services.

Where is The First National Bank of Long Island headquartered?

The bank is headquartered on Long Island, with branch networks extending to Manhattan.

What types of clients does The First National Bank of Long Island serve?

The bank serves individual customers, professionals, corporations, institutions, and government bodies.

How does The First of Long Island Corporation generate its revenue?

The company earns revenue mainly through interest on loans and investment securities, fees on deposit accounts, and income from investment management.

Who is the current Chief Financial Officer of The First of Long Island Corporation?

Janet T. Verneuille is the current Chief Financial Officer.

What is the company's approach to personalized service?

The bank prides itself on delivering exceptional personalized service, aiming to be known as the bank 'where everyone knows your name.'

When is the next earnings conference call for The First of Long Island Corporation?

The next earnings conference call is scheduled for October 27, 2023, at 2:00 pm Eastern Time.

How can investors participate in the earnings conference call?

Investors can dial in using the provided phone numbers and conference IDs or register on the provided webpage to listen and ask questions.

What recent leadership changes have been made at The First of Long Island Corporation?

Janet T. Verneuille has been appointed as the new Chief Financial Officer.

What are the core values of The First National Bank of Long Island?

The bank emphasizes a 'Customer First' experience, focusing on meeting the commercial and personal banking needs with exceptional service.
First of Long Island Corp/The

Nasdaq:FLIC

FLIC Rankings

FLIC Stock Data

293.54M
21.18M
6.13%
55.52%
0.47%
Banks - Regional
National Commercial Banks
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United States of America
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