First of Long Island Corp (OQ:FLIC)
Business Focus: Banks
| Sector: Financials | Industry: Banks |
| See Regulatory Filings on SEC | |
| Company Contact | |
| Address: | 275 BROADHOLLOW ROAD MELVILLE NY 11747 |
| Tel: | N/A |
| Website: | https://www.fnbli.com |
| IR: | See website |
| Key People | ||
| Christopher Becker Director, President and Chief Executive Officer of the Corporation and the Bank | Janet T. Verneuille Chief Financial Officer, Senior Executive Vice President | Christopher J. Hilton Senior Executive Vice President |
| Richard P. Perro Executive Vice President of the Corporation | Susanne Pheffer Executive Vice President of the Corporation | Michael J. Spolarich Executive Vice President of the Corporation |
| Tanweer S. Ansari Chief Risk Officer, General Counsel | Pauline Wimmer Corporate Secretary | |
| Business Overview |
| The First of Long Island Corporation is a one bank holding company. It provides financial services through its wholly owned subsidiary, The First National Bank of Long Island (the Bank). The Bank serves the financial needs of small to middle market businesses, professional service firms, not-for-profits, municipalities and consumers primarily in Nassau and Suffolk Counties of Long Island, and the boroughs of New York City (NYC). The Bank's loan portfolio is primarily comprised of loans to borrowers on Long Island and in the boroughs of NYC, and its real estate loans are principally secured by properties located in those areas. The Bank's investment securities portfolio consists of direct obligations of the United States government and its agencies, obligations of the small business administration (SBA), corporate bonds of large United States financial institutions and obligations of states and political subdivisions. The Bank offers trust, estate, custody, and investment services. |
| Financial Overview |
| For the three months ended 31 March 2024, First of Long Island Corp interest income increased 15% to $41.5M. Net interest income after loan loss provision decreased 26% to $18.2M. Net income decreased 32% to $4.4M. Net interest income after loan loss provision reflects Net Interest Margin, Total -% decrease of 24% to 1.79%, Net Interest Spread, Total -% decrease of 62% to 0.61%, Nontaxable decrease of 51% to $960K. Net income also reflects Savings. |
| Employees: | 288 as of Dec 31, 2023 |
| Reporting Currency: | U.S. Dollars |
| Enterprise value: | $643.69M as of Mar 31, 2024 |
| Annual revenue (TTM): | $160.96M as of Mar 31, 2024 |
| EBITDA (TTM): | $38.35M as of Mar 31, 2024 |
| Net annual income (TTM): | $24.19M as of Mar 31, 2024 |
| Free cash flow (TTM): | N/A |
| Net Debt Last Fiscal Year: | $408.12M as of Mar 31, 2024 |
| Shares outstanding: | 22,516,143 as of May 7, 2024 |
| TTM: Trailing Twelve Months EBITDA: Earnings Before Interest, Taxes, Depreciation, & Amortization | |
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