Table of Contents CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY (UNAUDITED) | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | |-------------------------------------------------------------------------------|--------------------------------|-------|----------------------------|-----------|-------------------------------|-------------|-----------------------------------------------------------|-----------------------------------------------|----------|---------------------| | (d ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, DC 20549 ____________ FORM 10-Q (Mark One) [X] QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2023 or [ ] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number 001-32964 THE FIRST OF LONG ISLAND CORPORATION (Exact name of registrant as specified in its charter) New York 11-267 ...

Net interest income on a tax-equivalent basis was $117.9 million in 2022, an increase of $8.8 million, or 8.1%, from $109.1 million in 2021. The increase in net interest income reflects growth in interest income on loans of $10.1 million due to higher average loans outstanding of $300.5 million, or 10.1%, to $3.3 billion in 2022, offset by $2.3 million of growth in interest expense on total interestbearing liabilities. Also contributing to the increase was a favorable shift in the mix of funding as an incre ...

The First of Long Island Corporation (NASDAQ:FLIC) Q4 2022 Earnings Conference Call January 27, 2023 2:00 PM ET Company Participants Chris Becker - President and Chief Executive Officer Jay McConie - Chief Financial Officer Conference Call Participants Alex Twerdahl – Piper Sandler Chris O'Connell - KBW Operator Welcome to the First of Long Island Corporation's Fourth Quarter 2022 Earnings Conference Call. On the call today are Chris Becker, President and Chief Executive Officer; Jay McConie, Chief Financia ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, DC 20549 ____________ FORM 10-Q (Mark One) [X] QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2022 or [ ] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number 001-32964 THE FIRST OF LONG ISLAND CORPORATION (Exact name of registrant as specified in its charter) New York 11 ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 ___________ FORM 10-K (Mark One) ý ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2021 OR ¨ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ____ to ____ Commission file number 001-32964 | --- | --- | --- | |-------------------------------------------------------------------------------------- ...

PART I. FINANCIAL INFORMATION [Item 1. Financial Statements (Unaudited)](index=3&type=section&id=ITEM%201.%20Financial%20Statements%20(Unaudited)) The unaudited statements show a slight asset increase to $4.10 billion and higher net income of $34.1 million for the nine-month period [Consolidated Balance Sheets](index=3&type=section&id=Consolidated%20Balance%20Sheets) Consolidated Balance Sheet Highlights (in thousands) | Account | September 30, 2021 | December 31, 2020 | | :--- | :--- | :--- | | **Total Assets** | **$4,096,856** | **$4,069,141** | | Net Loans | $2,871,897 | $3,000,417 | | Investment Securities | $775,747 | $662,722 | | Total Deposits | $3,371,546 | $3,321,588 | | **Total Liabilities** | **$3,676,973** | **$3,662,023** | | **Total Stockholders' Equity** | **$419,883** | **$407,118** | - Total loans decreased from **$3.03 billion** at year-end 2020 to **$2.90 billion** as of September 30, 2021, primarily due to a reduction in residential mortgages and SBA Paycheck Protection Program (PPP) loans[7](index=7&type=chunk) - Total deposits increased, driven by growth in checking and savings accounts, which offset a significant decline in time deposits[7](index=7&type=chunk) [Consolidated Statements of Income](index=4&type=section&id=Consolidated%20Statements%20of%20Income) Consolidated Income Statement Highlights (in thousands, except per share data) | Metric | Nine Months Ended Sep 30, 2021 | Nine Months Ended Sep 30, 2020 | Three Months Ended Sep 30, 2021 | Three Months Ended Sep 30, 2020 | | :--- | :--- | :--- | :--- | :--- | | Net Interest Income | $79,436 | $77,012 | $26,608 | $25,918 | | Provision (Credit) for Credit Losses | $(3,058) | $2,450 | $(1,449) | $— | | **Net Income** | **$34,077** | **$30,674** | **$11,422** | **$10,767** | | **Diluted EPS** | **$1.43** | **$1.28** | **$0.48** | **$0.45** | - Net income for the nine months ended September 30, 2021, **increased by 11.1% year-over-year**, primarily due to a **$5.5 million favorable swing** in the provision for credit losses and a **3.1% increase** in net interest income[11](index=11&type=chunk)[99](index=99&type=chunk) [Consolidated Statements of Changes in Stockholders' Equity](index=6&type=section&id=Consolidated%20Statements%20of%20Changes%20in%20Stockholders'%20Equity) - Stockholders' equity increased from **$407.1 million** at the beginning of 2021 to **$419.9 million** at September 30, 2021[15](index=15&type=chunk)[156](index=156&type=chunk) - Key activities impacting equity during the first nine months of 2021 included: net income of **$34.1 million**, cash dividends declared of **$13.7 million**, and common stock repurchases totaling **$6.3 million**[15](index=15&type=chunk)[156](index=156&type=chunk) [Consolidated Statements of Cash Flows](index=8&type=section&id=Consolidated%20Statements%20of%20Cash%20Flows) Cash Flow Summary (in thousands) | Activity | Nine Months Ended Sep 30, 2021 | Nine Months Ended Sep 30, 2020 | | :--- | :--- | :--- | | Net Cash from Operating Activities | $38,778 | $26,847 | | Net Cash from Investing Activities | $8,681 | $210,240 | | Net Cash from Financing Activities | $425 | $(112,203) | | **Net Increase in Cash** | **$47,884** | **$124,884** | - The significant decrease in cash from investing activities compared to the prior year is primarily due to a higher volume of investment securities purchases (**$268.8 million in 2021** vs **$120.9 million in 2020**) and a smaller net decrease in loans[20](index=20&type=chunk) [Notes to Unaudited Consolidated Financial Statements](index=9&type=section&id=Notes%20to%20Unaudited%20Consolidated%20Financial%20Statements) Investment Securities Portfolio (in thousands) | Security Type | Fair Value (Sep 30, 2021) | Fair Value (Dec 31, 2020) | | :--- | :--- | :--- | | State and municipals | $330,763 | $364,211 | | Pass-through mortgage securities | $212,762 | $131,720 | | Collateralized mortgage obligations | $113,438 | $53,711 | | Corporate bonds | $118,784 | $113,080 | | **Total** | **$775,747** | **$662,722** | Loan Portfolio Composition (in thousands) | Loan Type | Balance (Sep 30, 2021) | Balance (Dec 31, 2020) | | :--- | :--- | :--- | | Commercial mortgages | $1,506,382 | $1,421,071 | | Residential mortgages | $1,215,395 | $1,316,727 | | SBA PPP | $65,505 | $139,487 | | Commercial and industrial | $67,379 | $100,015 | | Other | $46,752 | $56,154 | | **Total Loans** | **$2,901,413** | **$3,033,454** | - The Allowance for Credit Losses (ACL) decreased from **$33.0 million** at year-end 2020 to **$29.5 million** at September 30, 2021, driven by a credit provision of **$3.1 million** reflecting improved economic conditions[49](index=49&type=chunk)[106](index=106&type=chunk) - The company utilizes interest rate swaps to manage interest rate risk, with one swap remaining with a notional amount of **$50 million** as of September 30, 2021[89](index=89&type=chunk)[91](index=91&type=chunk) [Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations](index=22&type=section&id=ITEM%202.%20Management's%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management discusses an 11.1% net income increase driven by higher net interest income and a credit for credit losses Key Performance Metrics (Nine Months Ended Sep 30) | Metric | 2021 | 2020 | | :--- | :--- | :--- | | Net Income | $34.1 million | $30.7 million | | Diluted EPS | $1.43 | $1.28 | | Return on Average Assets (ROA) | 1.09% | 0.98% | | Return on Average Equity (ROE) | 10.96% | 10.49% | | Net Interest Margin | 2.70% | 2.64% | - The increase in net interest income was driven by a favorable funding mix shift, with average checking deposits growing by **$247.9 million**, and higher income from SBA PPP loans of **$3.2 million**[100](index=100&type=chunk)[120](index=120&type=chunk) - The company recorded a credit provision for credit losses of **$3.1 million** in the first nine months of 2021, compared to a **$2.5 million provision** in the same period of 2020[106](index=106&type=chunk) - Strategic initiatives include a branch optimization strategy, which resulted in **$1.2 million of expenses** in the period, with an additional **$2.2 million expected** in Q4 2021[107](index=107&type=chunk)[114](index=114&type=chunk)[128](index=128&type=chunk) - The Allowance for Credit Losses (ACL) to total loans ratio was **1.02%** at September 30, 2021 (**1.04% excluding PPP loans**), down from **1.09%** at year-end 2020[109](index=109&type=chunk)[143](index=143&type=chunk) [Item 3. Quantitative and Qualitative Disclosures About Market Risk](index=30&type=section&id=ITEM%203.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) The company's market risk management focuses on the impact of interest rate changes on Net Interest Income and Economic Value of Equity Interest Rate Sensitivity Analysis (at Sep 30, 2021) | Rate Change Scenario | EVE % Change from Base | NII % Change from Base (1-Year) | | :--- | :--- | :--- | | +300 bps | -6.3% | -0.4% | | +200 bps | -3.2% | +0.2% | | +100 bps | -0.2% | +0.6% | | **Base Case** | **—** | **—** | | -100 bps | -11.6% | -5.1% | - The company's large base of noninterest-bearing checking deposits (**34% of total assets**) helps mitigate the negative impact of rising interest rates on net interest income[170](index=170&type=chunk) - A decrease in interest rates would negatively impact NII and EVE due to the inability to reduce deposit rates below zero[172](index=172&type=chunk) [Item 4. Controls and Procedures](index=32&type=section&id=ITEM%204.%20Controls%20and%20Procedures) Management concluded that disclosure controls and procedures were effective with no material changes to internal controls - Management concluded that disclosure controls and procedures are **effective** as of September 30, 2021[177](index=177&type=chunk) - There were **no material changes** in internal control over financial reporting during the third quarter of 2021[178](index=178&type=chunk) PART II. OTHER INFORMATION [Item 1. Legal Proceedings](index=32&type=section&id=ITEM%201.%20Legal%20Proceedings) Ongoing legal actions are part of normal business and are not expected to have a material adverse impact - The company states that ongoing legal actions are **not expected to have a material adverse impact**[179](index=179&type=chunk) [Item 1A. Risk Factors](index=32&type=section&id=ITEM%201A.%20Risk%20Factors) No material changes to risk factors were reported since the last annual filing - **No material changes** to risk factors were reported since the last Annual Report on Form 10-K[180](index=180&type=chunk) [Item 2. Unregistered Sales of Equity Securities and Use of Proceeds](index=32&type=section&id=ITEM%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) The company repurchased 100,845 shares in Q3 2021 under its existing stock repurchase program Issuer Purchases of Equity Securities (Q3 2021) | Period | Total Shares Purchased | Average Price Paid Per Share | | :--- | :--- | :--- | | July 2021 | — | — | | August 2021 | 100,845 | $21.816 | | September 2021 | — | — | | **Total** | **100,845** | **$21.816** | - The total authorized stock repurchase program is for **$65 million**, of which **$11.1 million remained available** for purchase as of September 30, 2021[183](index=183&type=chunk) [Item 6. Exhibits](index=33&type=section&id=ITEM%206.%20Exhibits) This section lists all exhibits filed with the report, including officer certifications and iXBRL data - Exhibits filed include certifications from the Principal Executive Officer and Principal Financial Officer, as well as iXBRL formatted financial statements[188](index=188&type=chunk)

Company Overview and Strategy - The First of Long Island Corporation (FLIC) has a new bank brand: "Go First Go Far"[5] - The company has 47 branches, with 37 on Long Island, 1 in Manhattan, 6 in Queens, and 3 in Brooklyn[8] - FLIC established a partnership with Financial Resources Group, branding the partnership as First Investments, offering investment management, retirement planning, financial planning, asset management solutions and trust services[9, 10] Financial Performance and Growth - The company has shown steady growth in earnings per share and book value per share over the years[12] - Total deposits have increased from $1503 million in 2011 to $3384 million in 2Q21 YTD[12, 13] - Total loans have increased from $986 million in 2011 to $3033 million in 2Q21[15] - The company's leverage ratio has decreased from 9.97% in 2011 to 7.98% in 2Q21[16] Loan Portfolio - As of 2Q 2021, the loan mix includes 45% in commercial mortgages, 26% in residential mortgages, 17% in commercial loans, 4% in C&I including SBA PPP, 3% in other, and 5% in construction[18] - Commercial mortgage portfolio distribution: Nassau 33%, Suffolk 24%, Brooklyn 15%, Bronx 11%, Manhattan 8%, Queens 4%, Westchester 3%, Other 2% totaling $775.3 million[21] - Other CRE & Owner-Occupied portfolio distribution: Nassau 35%, Suffolk 25%, Queens 13%, Brooklyn 7%, Westchester 5%, New Jersey 4%, Bronx 3%, Other 3%, Manhattan 3% totaling $703.9 million[24] Credit Quality and Deposits - The company maintains strong credit quality, with low levels of non-performing loans and net charge-offs[30, 31] - The deposit mix as of 2Q 2021 includes 39% in checking accounts, 37% in money market accounts, 13% in time deposits, 4% in NOW accounts, and 7% in savings accounts, totaling $3.4 billion[34]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, DC 20549 ____________ FORM 10-Q (Mark One) [X] QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2021 or [ ] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number 001-32964 New York 11-2672906 (State or other jurisdiction of incorporation or organization) (I.R.S. Employer Identifi ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, DC 20549 ____________ FORM 10-Q (Mark One) [X] QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2021 or [ ] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number 001-32964 THE FIRST OF LONG ISLAND CORPORATION (Exact name of registrant as specified in its charter) New York 11-267 ...