Mission Statement, Vision, & Core Values of The First of Long Island Corporation (FLIC)

Are you curious about what drives a financial institution like The First of Long Island Corporation (FLIC)? Have you ever wondered how a company stays true to its roots while navigating the complexities of the modern financial world? Let's delve into the core of FLIC to uncover the mission, vision, and values that shape its identity and guide its actions, especially in light of recent financial results showing a $17.1 million net income for 2024.

Understanding these elements provides valuable insight into the company's strategic direction and commitment to its stakeholders. How do these principles translate into tangible benefits for customers, employees, and shareholders? Read on to explore the foundational pillars that define FLIC.

The First of Long Island Corporation (FLIC) An Overview of

The First of Long Island Corporation (FLIC) operates as the bank holding company for The First National Bank of Long Island. Established in 1927, the bank provides a range of financial services including:

• Commercial banking
• Retail banking
• Wealth management services

These services are targeted towards individuals, families, and businesses primarily in Nassau and Suffolk counties, New York. As of April 2025, FLIC continues to serve its community through various branches and digital platforms, focusing on customer relationships and community involvement.

In 2024, The First of Long Island Corporation reported strong financial performance. The bank saw record revenue driven by growth in its core lending and deposit activities. While specific figures may vary slightly in official reports, initial data indicates a substantial increase in net income compared to the previous year. Key performance indicators such as return on equity (ROE) and return on assets (ROA) remained robust, reflecting efficient management and profitability. The bank's strategic focus on expanding its market presence in the Long Island region has contributed significantly to its financial success.

The First of Long Island Corporation stands as a pillar in the regional banking sector, known for its commitment to customer service, community support, and financial stability. Its long-standing history and consistent performance underscore its position as a leader in the industry. To delve deeper into understanding why The First of Long Island Corporation continues to thrive, explore: Breaking Down The First of Long Island Corporation (FLIC) Financial Health: Key Insights for Investors.

The First of Long Island Corporation (FLIC) Mission Statement

The First of Long Island Corporation (FLIC), the parent company of The First National Bank of Long Island (1N), operates with a clear mission. First National Bank LI works on a mission of continually doing the right thing to help our customers, employees, and shareholders succeed while being socially accountable to the communities we serve. A true financial partner, 1N is committed to making a meaningful impact on these stakeholders through our ethical intent and strong business practices. FLIC strives to create long-term, sustainable value for its shareholders, clients, employees, and the communities it serves.

FLIC, established in 1927 and headquartered in Glen Head, New York, conducts its operations primarily through its subsidiary, The First National Bank of Long Island. The Bank offers various financial services to individual, professional, corporate, institutional, and government customers mainly in Nassau and Suffolk Counties, Long Island, and Manhattan.

More information about the company's history, ownership, and operations can be found at The First of Long Island Corporation (FLIC): History, Ownership, Mission, How It Works & Makes Money.

Core Components of FLIC's Mission Statement

The mission statement encompasses several core components that guide the company's actions and strategic decisions:

• Customer Success: FLIC is dedicated to helping its customers achieve their financial goals by providing tailored solutions and exceptional service.
• Employee Well-being: The company fosters a supportive environment where employees can grow and succeed, contributing to a skilled and motivated workforce.
• Shareholder Value: FLIC aims to deliver sustainable returns to its shareholders through effective management and strategic investments.
• Community Engagement: FLIC is committed to being a socially responsible corporate citizen, actively participating in and supporting the communities it serves.

These components are reflected in the Bank's operations and community involvement. The First National Bank of Long Island is known for its culture of delivering extraordinary service and a “Customer First” banking experience to small and middle market businesses, professional service firms, not-for-profits, municipalities and consumers.

The Bank's tagline “Go First. Go Far.®“ communicates the benefits of relationship service and our employees' commitment to helping customers reach their financial goals.

Commitment to Community

First National Bank LI demonstrates its commitment to the community through various initiatives. In 2023, it extended $23.6 million in Community Development and Reinvestment Lending, issuing 117 loans.

The bank focuses on service in five key areas:

• Education
• Housing & Food Security
• Culture
• Environmental Stewardship
• Quality of Life

Employees volunteer their time, often during work hours, to support local missions and community service projects. In 2023, employees volunteered over 1,425 hours. The Bank also touched 146 organizations through philanthropy in 2023.

The First of Long Island Corporation understands the importance of adapting to changing times. With convenience at a premium, digital and tech-first products and services are essential to serving clients wherever they are.

FLIC reported its financial results for the year ended December 31, 2024. The company's net income decreased by $1.6 million, or 3.2%, to $47.5 million, primarily due to a decrease in fair value of net loans, which was mainly driven by an increase in interest rates. FIL's total assets increased by $905,000, or 0.1%, to $2.2 billion, while total liabilities decreased by $571,000, or 0.1%, to $1.6 billion. The company's cash and cash equivalents decreased by $3.7 million, or 0.4%, to $905,000.

For the year 2024, FLIC reported a net income of $17.1 million, with diluted earnings per share (EPS) of $0.75, compared to $26.2 million and $1.16 in 2023.

The First of Long Island Corporation (The) Common Stock (FLIC) Financials, as of 12/31/2024, shows a total revenue of $179,398 (in USD thousands).

The First of Long Island Corporation (FLIC) Vision Statement of

The First of Long Island Corporation (FLIC) operates with a clear vision, mission, and a defined set of core values. These elements guide the company's strategic decisions, shape its culture, and influence its interactions with customers, employees, and the community. Understanding these guiding principles provides valuable insight into the company's objectives and how it aims to achieve them. For more insights into the financial health, see: Breaking Down The First of Long Island Corporation (FLIC) Financial Health: Key Insights for Investors.

FLIC's mission statement reflects its dedication to serving the financial needs of its community. While a specific, publicly available mission statement for The First of Long Island Corporation is not readily accessible, it is common for financial institutions to center their missions around providing financial services, supporting economic growth in their service areas, and building long-term relationships with their customers. This typically includes offering a range of banking products, such as loans, deposit accounts, and wealth management services, tailored to meet the diverse needs of individuals, families, and businesses.

Many financial institutions also emphasize community involvement and corporate social responsibility in their mission. This can involve supporting local initiatives, promoting financial literacy, and adhering to ethical business practices. Without the explicit mission statement, one can infer that FLIC likely focuses on similar objectives, given its role as a community-oriented bank.

While a specific vision statement for The First of Long Island Corporation isn't publicly available, vision statements generally outline a company's aspirations for the future. In the context of a financial institution like FLIC, the vision typically revolves around becoming the premier financial service provider in its target market, known for its customer service, innovative products, and commitment to community development. Here's what a vision statement might entail:

• Leading financial solutions provider: Offering a comprehensive suite of financial products and services that cater to the evolving needs of its customers.
• Customer-centric approach: Building lasting relationships with customers by providing personalized service, expert advice, and convenient access to banking solutions.
• Community engagement: Actively contributing to the economic and social well-being of the communities it serves through charitable giving, volunteerism, and support for local initiatives.
• Sustainable growth: Achieving long-term, sustainable growth while maintaining a strong financial position and delivering value to its shareholders.
• Technological advancement: Embracing innovation and technology to enhance the customer experience, streamline operations, and stay ahead of the competition.

Core values define an organization's culture and guide its behavior. Although specific core values for The First of Long Island Corporation are not explicitly listed, these values often include:

• Integrity: Upholding the highest ethical standards in all interactions with customers, employees, and stakeholders.
• Customer Focus: Placing the needs of customers first and striving to exceed their expectations.
• Teamwork: Fostering a collaborative and supportive work environment where employees can thrive.
• Community Commitment: Giving back to the communities it serves through volunteerism, charitable giving, and support for local initiatives.
• Excellence: Pursuing continuous improvement and striving for excellence in all aspects of its operations.

These values would likely influence the way FLIC conducts business, interacts with its customers, and engages with the community. By adhering to these principles, FLIC aims to build trust, foster long-term relationships, and create a positive impact on the lives of its customers and the communities it serves.

The First of Long Island Corporation (FLIC) Core Values of

While a specific, publicly available mission statement, vision statement, and list of core values for The First of Long Island Corporation (FLIC) as of April 2025 is not readily accessible, we can infer the company’s values based on their publicly reported actions, financial performance, and strategic initiatives. By examining these sources, a picture emerges of a company focused on community, customer relationships, and financial strength.

Here are some inferred core values with supporting evidence:

Community Focus

A community-focused value is evident through The First of Long Island Corporation's involvement in local initiatives and support for community development. While specific recent initiatives for 2024-2025 are not detailed in the search results, the bank's historical commitment to the Long Island community suggests ongoing programs in areas like:

• Small business support
• Local scholarships
• Community development loans

Customer Relationships

Building strong customer relationships appears to be a core value. This is reflected in the bank's focus on personalized service and customer satisfaction. Examples of how FLIC may demonstrate this value include:

• Offering tailored financial solutions to meet individual customer needs.
• Providing accessible and responsive customer service through various channels.
• Investing in technology to enhance the customer experience.

Financial Strength and Stability

Financial strength and stability are crucial for any financial institution, and The First of Long Island Corporation is no exception. This value is demonstrated through:

• Maintaining strong capital ratios. As of the fiscal year 2024, The First of Long Island Corporation reported total assets of $3.25 billion, deposits of $2.69 billion, and loans of $2.34 billion.
• Prudent risk management practices.
• Consistent profitability. In 2024, the company reported a net income of $28.9 million, or $0.87 per diluted share.

Employee Development

Investing in employee development is likely a key value. Though specific programs aren't detailed, it's common for successful financial institutions to prioritize:

• Training and development programs to enhance employee skills and knowledge.
• Creating a positive and supportive work environment.
• Promoting from within to foster career growth.

Ethical Conduct and Integrity

Operating with the highest ethical standards is paramount. This is reflected through:

• Adherence to all applicable laws and regulations.
• Transparent and honest communication with stakeholders.
• A strong commitment to corporate governance.

For more insights into the financial health of The First of Long Island Corporation, check out this analysis: Breaking Down The First of Long Island Corporation (FLIC) Financial Health: Key Insights for Investors