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1. Company Snapshot

1.a. Company Description

The First of Long Island Corporation operates as the holding company for The First National Bank of Long Island that provides financial services to small and medium-sized businesses, professionals, consumers, municipalities, and other organizations.The company offers business and small business checking, personal checking, negotiable order of withdrawal, interest on lawyer, escrow service, rent security, personal and nonpersonal money market, savings, time deposit, holiday club, and individual retirement accounts.It also provides commercial and residential mortgage, commercial and industrial, small business credit scored, Small Business Administration, construction and land development, consumer, and home equity lines of credit/loans, as well as commercial and standby letters of credit; debit or credit cards; and overdraft facilities.


In addition, the company offers life insurance, trust, estate and custody, retail investment, bill payment, lockbox, ACH, safe deposit box rental, wire transfer, money order, checkbook printing, check, ATM, and online and mobile banking services, as well as investment securities, management, and advisory services.It operates 40 branches, including 17 branches in Nassau, 15 in Suffolk, 5 in Queens, 2 in Brooklyn, and 1 in Manhattan.The company was founded in 1927 and is headquartered in Glen Head, New York.

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1.b. Last Insights on FLIC

The First of Long Island Corporation's recent performance was negatively impacted by a decline in net interest income, primarily due to a decrease in yields on investment securities. Additionally, the company's provision for loan losses increased, indicating a potential rise in credit risk. Furthermore, the recent earnings release revealed a decline in non-interest income, which was partly offset by a decrease in non-interest expenses.

1.c. Company Highlights

2. Transcript Summary

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3. NewsRoom

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ConnectOne Bancorp, Inc. and The First of Long Island Corporation Announce Receipt of FDIC Approval for Merger

May -06

Source: globenewswire.com

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The First of Long Island Corporation Reports Earnings for the First Quarter of 2025

Apr -30

Source: globenewswire.com

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The First of Long Island Corporation Announces First Quarter Cash Dividend of $.21 per Share

Mar -13

Source: globenewswire.com

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The First of Long Island Corporation Offers Strong Income Ahead Of A Merger

Jan -31

Source: seekingalpha.com

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The First of Long Island Corporation Reports Earnings for the Year Ended December 31, 2024

Jan -30

Source: globenewswire.com

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FLIC Stock Alert: Halper Sadeh LLC Is Investigating Whether the Sale of the First of Long Island Corporation Is Fair to Shareholders

Dec -28

Source: businesswire.com

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The First of Long Island Corporation Announces Fourth Quarter Cash Dividend of $.21 per Share

Dec -20

Source: globenewswire.com

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First of Long Island Corporation: Q3 Earnings Merit A Buy

Oct -28

Source: seekingalpha.com

4. Business Breakdown

4.a. Revenues by Country

4.b. Revenues by Segment

5. Expected revenues mid-term growth (4.00%)

6. Segments

Banking and Related Activities

Expected Growth: 4.0%

The 4.0% growth in Banking and Related Activities from The First of Long Island Corporation is driven by increasing loan demand, expansion of commercial banking services, and strategic acquisitions. Additionally, improved asset quality, enhanced digital banking capabilities, and a favorable interest rate environment contribute to the segment's growth.

7. Detailed Products

Commercial Banking

Provides a range of financial services to businesses, including cash management, lending, and treasury management solutions.

Consumer Banking

Offers personal banking services, including checking and savings accounts, credit cards, and personal loans.

Mortgage Banking

Provides residential and commercial mortgage lending services to individuals and businesses.

Wealth Management

Offers investment and wealth management services, including financial planning, investment management, and trust services.

Treasury Management

Provides cash management and treasury services to businesses, including account management, payment processing, and fraud prevention.

8. The First of Long Island Corporation's Porter Forces

Forces Ranking

Threat Of Substitutes

The threat of substitutes for The First of Long Island Corporation is moderate, as there are alternative financial institutions that offer similar services, but the company's strong brand and customer loyalty mitigate this threat.

Bargaining Power Of Customers

The bargaining power of customers is low, as The First of Long Island Corporation has a diverse customer base and no single customer has significant influence over the company's operations.

Bargaining Power Of Suppliers

The bargaining power of suppliers is low, as The First of Long Island Corporation has multiple suppliers and can negotiate favorable terms.

Threat Of New Entrants

The threat of new entrants is low, as The First of Long Island Corporation operates in a highly regulated industry with significant barriers to entry.

Intensity Of Rivalry

The intensity of rivalry is high, as The First of Long Island Corporation operates in a competitive market with several established players, and the company must continually innovate and improve its services to maintain its market share.

9. SWOT Analysis

Strength

Weaknesses

Opportunities

Threats

10. Capital Structure

10.a. Balance Sheet

10.b. Weighted Average Cost of capital

Value
Debt Weight 58.95%
Debt Cost 3.95%
Equity Weight 41.05%
Equity Cost 7.22%
WACC 5.29%
Leverage 143.63%

11. Quality Control: The First of Long Island Corporation passed 2 out of 9 key points

12.a Historical Valuation

12.b Price/Earnings Ratio

12.c Margin Valuation

12.d Peers Valuation

Peers Group Analysis

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First Community

A-Score: 6.8/10

Value: 6.6

Growth: 5.6

Quality: 6.6

Yield: 5.0

Momentum: 8.5

Volatility: 8.3

1-Year Total Return ->

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First Capital

A-Score: 6.6/10

Value: 8.0

Growth: 5.7

Quality: 5.9

Yield: 6.0

Momentum: 8.5

Volatility: 5.7

1-Year Total Return ->

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Peoples Financial Services

A-Score: 6.0/10

Value: 6.2

Growth: 4.3

Quality: 5.8

Yield: 8.0

Momentum: 5.0

Volatility: 6.7

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Seacoast Banking

A-Score: 5.6/10

Value: 4.3

Growth: 5.4

Quality: 6.1

Yield: 4.0

Momentum: 7.0

Volatility: 7.0

1-Year Total Return ->

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Bank of Marin

A-Score: 5.6/10

Value: 4.5

Growth: 1.9

Quality: 6.0

Yield: 8.0

Momentum: 7.0

Volatility: 6.3

1-Year Total Return ->

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Stock-Card
First of Long Island

A-Score: 5.3/10

Value: 5.0

Growth: 3.1

Quality: 4.1

Yield: 8.0

Momentum: 3.0

Volatility: 8.7

1-Year Total Return ->

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Peers Metrics

12.e Scoring Insights

12.f DCF BETA

Parameters

Short Term Growth

Short term Time

Long-Term Growth

WACC

Target Price

11.87$

Current Price

11.87$

Potential

-0.00%

Expected Cash-Flows