The First of Long Island Corporation (FLIC)
NASDAQ (CM) NASDAQ (CM) Primary Summary
FLIC Chart
The First of Long Island Corporation Offers Strong Income Ahead Of A Merger
The First of Long Island Corporation offers a 6.5% yield, making it attractive for income investors despite some weakening in operating metrics and return metrics. The bank's asset quality remains strong, with slight improvements in credit loss provisions and stable loan and deposit levels. 2024 saw a decline in revenues and earnings, but the bank had a better H2 2024, with margins improving throughout the year.
First of Long Island Corporation: Q3 Earnings Merit A Buy
The First of Long Island Corporation is a regional bank with a strong Q3 2024 performance, despite slight revenue dips and competitive deposit markets. Margins are improving, loan demand is stable, and asset quality remains strong, supporting our buy recommendation at current levels. The stock offers a 6.7% yield and trades at a discount-to-book value, with book value per share at $17.25 versus $12.70.
New Strong Buy Stocks for September 4th
FLIC, MHO, SMFG, PED and UL have been added to the Zacks Rank #1 (Strong Buy) List on September 4, 2024.
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The First of Long Island Corporation Profile
| - Industry | - Sector | Christopher D. Becker CEO | NASDAQ (CM) Exchange | 320734106 CUSIP |
| US Country | 265 Employees | - Last Dividend | 29 Nov 2016 Last Split | 18 Aug 1995 IPO Date |
Overview
The First of Long Island Corporation acts as the parent company for The First National Bank of Long Island, a financial institution offering a broad range of services. Targeting small to medium-sized businesses, professionals, consumers, municipalities, and diverse organizations, the company has established a strong footprint in providing financial solutions. Founded in 1927 and based in Melville, New York, it has demonstrated longstanding commitment and service to its community, making it a significant player in the regional banking sector.
Products and Services
The First of Long Island Corporation offers an extensive suite of financial products and services designed to meet the varied needs of its clients. These include:
- Business and Personal Checking Accounts - Providing tailored checking accounts for businesses of different sizes as well as for personal use, addressing the specific needs of each segment like transaction volume, and accessibility.
- Savings and Time Deposit Accounts - Including a range of savings products such as money market, savings, and time deposit accounts, as well as individual retirement accounts (IRAs), offering various interest rates and terms to help clients save for the future.
- Mortgage and Loan Services - Offering commercial and residential mortgage loans, commercial and industrial loans, small business credit scored loans, Small Business Administration loans, construction and land development loans, consumer loans, and home equity lines/loans. These services cater to the financing needs of both individuals and businesses for various purposes like real estate, expansion, or personal use.
- Electronic Banking Services - Providing a comprehensive suite of electronic banking services including online and mobile banking, bill payment, ACH transactions, and wire transfers, facilitating easy and convenient management of finances.
- Additional Services - The company also provides a variety of other services to ensure clients' comprehensive financial needs are met. These include life insurance, investment management, trust, estate and custody services, retail investment services, rent security services, lockbox services, safe deposit box rental, and financial instruments like debit or credit cards, money orders, and checkbook printing. Overdraft facilities and standby letters of credit are also available, offering financial safety nets for clients.
