Last $38.89 USD
Change Today -0.26 / -0.66%
Volume 8.1K
FLIC On Other Exchanges
Symbol
Exchange
NASDAQ CM
As of 8:10 PM 04/17/14 All times are local (Market data is delayed by at least 15 minutes).

first of long island corp (FLIC) Snapshot

Open
$39.07
Previous Close
$39.15
Day High
$39.07
Day Low
$38.55
52 Week High
11/27/13 - $43.06
52 Week Low
04/22/13 - $29.14
Market Cap
356.6M
Average Volume 10 Days
17.0K
EPS TTM
$2.32
Shares Outstanding
9.2M
EX-Date
03/7/14
P/E TM
16.8x
Dividend
$1.04
Dividend Yield
2.65%
Current Stock Chart for FIRST OF LONG ISLAND CORP (FLIC)

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first of long island corp (FLIC) Details

The First of Long Island Corporation operates as a bank holding company for The First National Bank of Long Island that provides financial services for privately owned businesses, professionals, consumers, public bodies, and other organizations. The company’s deposit products include checking accounts, such as NOW accounts and IOLA; escrow service accounts; rent security accounts; money market accounts; savings products; time deposits; holiday club accounts; and individual retirement accounts. Its loan portfolio comprises short-term business loans; term and installment loans; revolving credit term loans; loans secured by marketable securities, the cash surrender value of life insurance policies, deposit accounts, or general business assets; residential and commercial mortgage loans; home equity lines of credit; construction loans; consumer loans, such as auto and home improvement loans, overdraft lines of credit, and credit cards; and commercial and standby letters of credit. The company also offers account reconciliation, ATM banking, bank by mail, bill payment, cash management, collection, drive-through banking, lock box, merchant credit card, night depository, payroll, online and telephone banking, personal money order, remote deposit, securities transactions, signature guarantee, trust and investment management, wire transfers and foreign cables, and withholding tax depository services, as well as offers controlled disbursement accounts, mutual funds, annuities, life insurance products, safe deposit boxes, and travelers checks. In addition, it provides pension trust, personal trust, estate, and custody services; and insurance agency services, as well as owns a real estate investment trust. As of September 19, 2013, the company had 23 full service offices, 11 commercial banking offices, and 2 select service banking centers in Nassau and Suffolk Counties, and Manhattan. The First of Long Island Corporation was founded in 1927 and is based in Glen Head, New York.

260 Employees
Last Reported Date: 03/17/14
Founded in 1927

first of long island corp (FLIC) Top Compensated Officers

Chief Executive Officer, President, Director,...
Total Annual Compensation: $516.0K
Chief Financial Officer, Executive Vice Presi...
Total Annual Compensation: $264.2K
Senior Executive Vice President, Secretary an...
Total Annual Compensation: $289.0K
Executive Vice President and Executive Vice P...
Total Annual Compensation: $243.6K
Executive Vice President and Executive Vice P...
Total Annual Compensation: $230.0K
Compensation as of Fiscal Year 2013.

first of long island corp (FLIC) Key Developments

The First of Long Island Corporation Proposes an Amendment to the Certificate of Incorporation

The First of Long Island Corporation proposed an amendment to the Certificate of Incorporation to increase the authorized shares of common stock to be considered at the annual general meeting of the shareholders to be held on April 22, 2014.

The First of Long Island Corporation Declares Cash Dividend for the First Quarter of 2014, Payable on March 21, 2014

The First of Long Island Corporation announced the declaration of a first quarter cash dividend in the amount of 26 cents per share. This represents a 4% increase over the dividend of 25 cents per share declared in the same quarter last year. The dividend will be paid on March 21, 2014 to shareholders of record on March 11, 2014.

The First of Long Island Corporation Reports Unaudited Consolidated Earnings Results for the Fourth Quarter and Year Ended December 31, 2013; Expects to Open Branches in Oceanside and Manhasset, Long Island in the Latter Part of 2014

The First of Long Island Corporation reported unaudited consolidated earnings results for the fourth quarter and year ended December 31, 2013. For the quarter, the company's interest and dividend income was $19,555,000 compared to $18,400,000 for the same period of last year. Net interest income was $16,150,000 compared to $14,926,000 for the same period of last year. Income before income taxes was $6,530,000 compared to $6,302,000 for the same period of last year. Net income was $5,175,000 compared to $5,051,000 for the same period of last year. Diluted earnings per share were $0.56 compared to $0.56 for the same period of last year. Return on average assets was 0.86% compared to 0.97% reported a year ago. Return on average equity was 10.10% compared to 9.72% reported a year ago. Net income was increased 2.5% over the same quarter of 2012. The increase in net income is attributable to increases in net interest income of $1.2 million and noninterest income of $188,000, as largely offset by increases in noninterest expense of $747,000, the provision for loan losses of $437,000 and income tax expense of $104,000. The changes in net interest income, noninterest income and noninterest expense occurred for substantially the same reasons discussed with respect to the full year periods. For the year, interest and dividend income was $74,851,000 compared to $76,229,000 for the same period of last year. Net interest income was $62,487,000 compared to $60,102,000 for the same period of last year. Income before income taxes was $27,035,000 compared to $25,410,000 for the same period of last year. Net income was $21,300,000 compared to $20,393,000 for the same period of last year. Diluted earnings per share were $2.32 compared to $2.27 for the same period of last year. Return on average assets was 0.95% compared to 0.99% reported a year ago. Return on average equity was 10.49% compared to 10.19% reported a year ago. Tangible book value per share was $22.57 compared to $22.79 as at December 31, 2012. Net income for 2013 was increased by $907,000 over 2012. The increase is primarily attributable to an increase in net interest income of $2.4 million, a decrease in the provision for loan losses of $631,000 and an increase in noninterest income (excluding securities gains) of $454,000. Despite net income for 2013 of $21.3 million, book value per share decreased from $22.81 at year-end 2012 to $22.59 at year-end 2013. The decrease resulted from the increase in intermediate and long-term interest rates during 2013 and a resulting reduction in unrealized gains on available-for-sale securities. The company expects to open branches in Oceanside and Manhasset, Long Island in the latter part of 2014. The Bank is continuing to pursue additional sites for future branch expansion.

 

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Industry Analysis

FLIC

Industry Average

Valuation FLIC Industry Range
Price/Earnings 16.7x
Price/Sales 5.3x
Price/Book 1.7x
Price/Cash Flow 16.7x
TEV/Sales NM Not Meaningful
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