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) 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.
The First of Long Island Corporation (Nasdaq: FLIC) reported strong financial results for Q3 and nine months ending September 30, 2022. Net income rose to $12.5 million ($.55 EPS) from $11.4 million ($.48 EPS) in Q3 2021, and $37.0 million ($1.61 EPS) for the nine months, up from $34.1 million ($1.43 EPS). Key growth drivers included a 10.7% increase in net interest income. However, a rise in provisions for credit losses and rising funding costs pose challenges. The company's ROA and ROE improved to 1.14% and 12.84% respectively. FLIC also repurchased shares worth $4.1 million.
The First of Long Island Corporation (NASDAQ: FLIC) will host an earnings conference call on October 27, 2022, at 3:00 PM Eastern Time, to discuss its third-quarter financial results, which will be released prior to market opening on the same day. Interested parties can listen by calling 1 800-450-7155 or +1 857-999-9155 for international access, using conference ID 3574546#. Registration is required by October 25, 2022, for those wishing to ask questions. An audio recording will be available two days post-call.
The First of Long Island Corporation (Nasdaq: FLIC) has declared a third-quarter cash dividend of $0.21 per share, marking a 5.0% increase from the $0.20 dividend in the same quarter last year. The dividend payment is scheduled for October 21, 2022, to shareholders on record as of October 12, 2022.
The First of Long Island Corporation operates The First National Bank of Long Island, providing a range of banking services across Long Island and New York City.
The First of Long Island Corporation (Nasdaq: FLIC) reported a net income of $12.5 million and EPS of $0.54 for Q2 2022, a 9.6% increase year-over-year. For the first half of 2022, net income rose to $24.6 million, up 8.4% from last year. Net interest margin increased to 2.97%, supported by strong loan originations of $236 million. However, the provision for credit losses rose by $2.8 million. The company repurchased 286,011 shares at a cost of $5.3 million, maintaining a leverage ratio of 9.85% and a ROE of 12.94% in Q2.
The First of Long Island Corporation (Nasdaq: FLIC) will host an earnings conference call on July 28, 2022, at 3:00 PM Eastern time to discuss its second-quarter results. Financial results will be released prior to market opening on the same day. Interested participants can join the call by dialing 1 800-450-7155 (or +1 857-999-9155 for international callers) using conference ID 0891590#. Registration is required by July 25, 2022, via the provided link. An audio recording of the call will be available afterward until August 12, 2022.
The First of Long Island Corporation (Nasdaq: FLIC) declared a second quarter cash dividend of $.20 per share, reflecting a 5.3% increase from last year's dividend of $.19. This dividend will be paid on July 22, 2022, to shareholders on record as of July 14, 2022. The company, which operates through The First National Bank of Long Island, focuses on delivering a range of financial services, emphasizing a customer-centric approach for both businesses and consumers in the Long Island and New York City regions.
The First of Long Island Corporation (Nasdaq: FLIC) reported strong first quarter results for 2022, with net income increasing to $12.1 million or $0.52 per share, up 7.2% year-over-year. Significant metrics include a 1.19% ROA and a 11.94% ROE, alongside a 2.90% net interest margin. Loan originations reached $261 million, contributing to an 8.1% rise in net interest income. The corporation repurchased 202,886 shares for $4.5 million. Despite a 1.4 million provision for credit losses, the overall financial outlook remains positive.
The First of Long Island Corporation (FLIC) has declared a cash dividend of $0.20 per share for the first quarter of 2022, marking a 5.3% increase from the $0.19 per share dividend issued last year. The payment will be made on March 24, 2022, to shareholders on record as of March 16, 2022. The corporation, parent to The First National Bank of Long Island, continues to focus on delivering exceptional service and a wide range of financial products to both business and consumer clients across Long Island and New York City.
FAQ
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