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 Corporation (Nasdaq: FLIC) will host an earnings conference call on April 28, 2023, at 2:00 PM Eastern Time to discuss its first-quarter results. Financial results will be disclosed after market hours on April 27, 2023.
Interested participants can listen by calling 1-800-450-7155 (international: +1 857-999-9155) with conference ID 7416347#. Registration is required by April 25, 2023 on their website. An audio recording of the call will be accessible online for review shortly after.
The First of Long Island Corporation (Nasdaq: FLIC) has announced a first quarter cash dividend of $.21 per share, marking a 5.0% increase from last year's $.20 per share. This dividend will be disbursed on March 24, 2023, to shareholders on record as of March 16, 2023. The corporation serves as the parent company of The First National Bank of Long Island, focusing on meeting the needs of businesses and consumers in Long Island and New York City through a wide range of banking and financial services. The bank is recognized for its commitment to customer service and community engagement.
The First of Long Island Corporation (Nasdaq: FLIC) reported a net income of $46.9 million and earnings per share (EPS) of $2.04 for the year ended December 31, 2022, reflecting an 8.9% increase in net income compared to 2021. The fourth quarter net income was $9.9 million, with an EPS of $0.44, up from $9.0 million and $0.38 in 2021. Key growth drivers included an $8.9 million increase in net interest income and a 7.2% rise in average checking deposits. However, the provision for credit losses rose by $4.9 million, and net interest margin decreased to 2.74% in Q4. The company repurchased 217,392 shares for $4 million during the quarter, signaling confidence in its financial health.
The First of Long Island Corporation (Nasdaq: FLIC) will conduct its earnings conference call on January 27, 2023, at 2:00 PM ET to discuss fourth-quarter results. The financial figures will be released before the market opens on January 26, 2023. Interested participants can join the call by dialing 1 800-450-7155 (or +1 857-999-9155 for international callers) and using conference ID 7957280#. Registration is required by January 24, 2023, for those wanting to ask questions during the call.
The First of Long Island Corporation (Nasdaq: FLIC) announced the nomination of J. Abbott R. Cooper for election to its Board of Directors at the 2023 Annual Meeting, enhancing its ongoing board refreshment initiative. This nomination follows the addition of another independent director since November 2022. Mr. Cooper, founder of Driver Management Company, brings significant financial services expertise. The board aims to strengthen governance and focus on increasing shareholder value, highlighting its responsiveness to investor feedback.
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