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]
The First of Long Island (FLIC) Presents At 2021 Virtual KBW Community Bank Investor Conference - Slideshow