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 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.
The First of Long Island Corporation (Nasdaq: FLIC) has declared a fourth quarter cash dividend of $0.21 per share, marking a 5.0% increase from last year's $0.20 per share. This dividend will be paid on January 12, 2023, to shareholders of record as of January 3, 2023. The company operates The First National Bank of Long Island, offering diverse financial services to individuals and businesses across Long Island and New York City.
The First of Long Island Corporation (Nasdaq: FLIC) has announced the election of Edward J. Haye to its Board of Directors, effective November 15, 2022. Haye, currently Chief Regulatory Counsel for American Water Works Company, brings extensive experience in corporate governance and regulatory affairs. His background includes significant roles in regulated industries, enhancing the corporation's expertise. Chairman Walter C. Teagle III emphasized that Haye's community involvement in Sag Harbor aligns with the bank's 'Community First' culture, aiming to strengthen its presence on Long Island's East End.
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