The First Of Long Island ( (FLIC) ) has released its Q1 earnings. Here is a breakdown of the information The First Of Long Island presented to its investors.
Claim 55% Off TipRanks
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Discover top-performing stock ideas and upgrade to a portfolio of market leaders with Smart Investor Picks
The First of Long Island Corporation, a financial institution primarily engaged in banking services, has released its latest earnings report for the quarter ending March 31, 2025. The company operates in the financial sector, focusing on providing a range of banking services to individuals and businesses.
In the latest earnings report, The First of Long Island Corporation reported a net income of $3.76 million for the first quarter of 2025, a decrease from $4.44 million in the same period last year. The company’s total assets stood at $4.08 billion, slightly down from $4.12 billion at the end of 2024.
Key financial metrics highlighted in the report include a net interest income of $18.82 million, up from $18.16 million in the previous year, and a provision for credit losses of $168,000. The company’s total deposits increased to $3.30 billion, and its investment securities available-for-sale were valued at $615.35 million. Despite these positive indicators, the company faced challenges with a decrease in net income and an increase in noninterest expenses, which totaled $17.13 million.
Looking ahead, The First of Long Island Corporation remains focused on maintaining its financial stability and exploring growth opportunities. The management is committed to navigating the current economic environment while continuing to serve its customers effectively.