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.
The First of Long Island Corporation (Nasdaq: FLIC) is the parent of The First National Bank of Long Island, a full service commercial bank serving business and consumer clients on Long Island and in New York City. This news page aggregates company announcements, earnings releases and other public updates related to FLIC and its banking subsidiary.
Readers can review detailed earnings reports that discuss net interest income, noninterest income, provisions for credit losses, operating expenses and key performance metrics such as net interest margin, return on average assets and return on average equity. These releases also describe trends in deposits, loans, liquidity, borrowing lines and capital ratios, providing insight into the Corporation’s financial condition.
The Corporation regularly issues dividend announcements describing quarterly cash dividends declared on its common stock, including payment dates and record dates. News items also cover topics such as branch optimization efforts, merger-related expenses, and commentary from management on the operating environment and strategic priorities.
In addition, external legal and market communications may appear in the news feed, such as law firm notices related to the proposed merger with ConnectOne Bancorp, Inc. These items offer context on how third parties are evaluating significant corporate events.
By following this page, investors and observers can track FLIC’s periodic results, dividend decisions, merger developments and other disclosures that the Corporation and external parties release through newswires. For complete financial details, the company refers readers to its Form 10-K and Form 10-Q filings with the U.S. Securities and Exchange Commission.
The First of Long Island Corporation (FLIC) reported net income of $10.8 million and EPS of $0.45 for Q3 2020, maintaining net income from Q3 2019. However, net income for the first nine months of 2020 decreased to $30.7 million, down 5.2% year-over-year. The net interest margin improved to 2.66%, supported by reduced deposit costs, yet impacted by rising provisions for credit losses of $2.5 million due to the COVID-19 pandemic. The corporation also completed a $128.7 million deleverage transaction to enhance capital efficiency. Cash dividends per share rose by 5.6% to $0.19.
The First of Long Island Corporation (Nasdaq: FLIC) declared a third quarter cash dividend of $.19 per share, reflecting a 5.6% increase from last year's $.18 per share. The dividend payment date is set for October 22, 2020, and shareholders must be on record by October 13, 2020. The corporation's sole subsidiary is The First National Bank of Long Island, which operates 49 branches across various regions, including Long Island and parts of New York City.
The First of Long Island Corporation (FLIC) reported net income of $10.8 million and earnings per share of $0.45 for Q2 2020, up from $10.7 million and $0.43 in Q2 2019. For the first half of 2020, net income decreased to $19.9 million from $21.6 million year-over-year, primarily due to a $2.5 million provision for credit losses. The net interest margin improved to 2.64%, with a decrease in costs for interest-bearing deposits. The company also supported customers with $621 million in loan modifications and $171 million in SBA PPP loans amidst pandemic challenges.
The First of Long Island Corporation (Nasdaq: FLIC) has declared a second quarter cash dividend of $0.18 per share, marking a 5.9% increase from last year's $0.17 per share. This dividend will be distributed on July 20, 2020, to shareholders on record as of July 9, 2020. The company's sole subsidiary, The First National Bank of Long Island, operates 52 branches across Nassau and Suffolk Counties and in the boroughs of Queens, Brooklyn, and Manhattan.
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