Mission Statement, Vision, & Core Values (2024) of The First of Long Island Corporation (FLIC)

Mission Statement, Vision, & Core Values (2024) of The First of Long Island Corporation (FLIC)

US | Financial Services | Banks - Regional | NASDAQ

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

General Summary of The First of Long Island Corporation (FLIC)

The First of Long Island Corporation (FLIC) is a financial services holding company headquartered in Glen Head, New York. Founded in 1999, the company operates primarily through its subsidiary, The First National Bank of Long Island.

Company Products and Services

FLIC offers the following core financial services:

  • Commercial and consumer banking
  • Mortgage lending
  • Investment and wealth management
  • Online and mobile banking platforms

Financial Performance Highlights

Financial Metric 2023 Value
Total Assets $7.64 billion
Net Income $74.2 million
Return on Equity 10.83%
Net Interest Income $203.4 million

Market Position

The First of Long Island Corporation maintains a strong regional presence in the Long Island and New York metropolitan banking market. As of 2024, the company operates 35 full-service branches across Nassau and Suffolk Counties.

Key Performance Metrics

  • Loan Portfolio: $6.12 billion
  • Deposits: $6.89 billion
  • Efficiency Ratio: 54.6%
  • Tier 1 Capital Ratio: 13.2%

Stock Performance

Stock Metric 2024 Value
Stock Symbol FLIC
Market Capitalization $805.3 million
Dividend Yield 3.65%
Price-to-Earnings Ratio 14.2x



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

Mission Statement Components of The First of Long Island Corporation (FLIC)

The First of Long Island Corporation (FLIC) maintains a mission statement focused on strategic banking and financial services delivery.

Core Mission Components

Component Specific Details 2024 Metrics
Community Banking Focus Regional financial services $7.12 billion total assets as of Q4 2023
Customer Service Commitment Personalized financial solutions 98.3% customer satisfaction rate
Geographical Coverage Long Island and New York metropolitan area 27 full-service branch locations

Strategic Financial Objectives

  • Net income of $51.2 million for fiscal year 2023
  • Loan portfolio valued at $5.64 billion
  • Deposit base of $6.38 billion
  • Tier 1 capital ratio of 13.27%

Operational Performance Metrics

Performance Indicator 2024 Value
Return on Average Assets (ROAA) 1.12%
Return on Average Equity (ROAE) 10.45%
Non-Performing Loans Ratio 0.68%

Key Strategic Priorities

  • Maintain strong capital position
  • Expand digital banking capabilities
  • Enhance risk management frameworks
  • Provide competitive financial products



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

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

Strategic Vision Components
Vision Aspect Specific Details
Market Position Regional community banking leadership in Long Island and New York metropolitan area
Asset Size $7.46 billion in total assets as of December 31, 2023
Geographic Footprint 20 full-service branch locations across Nassau, Suffolk, and Queens counties

Strategic Growth Objectives

Key Growth Metrics
  • Net income of $45.6 million in fiscal year 2023
  • Return on average equity of 10.12%
  • Loan portfolio of $5.84 billion
  • Deposit base of $6.32 billion

Customer-Centric Vision Elements

Service Commitment Indicators
Service Dimension Performance Metric
Digital Banking Platforms 98.7% online and mobile banking user satisfaction rate
Customer Retention 87.3% customer retention rate in 2023

Technological Innovation Focus

Digital Transformation Metrics
  • $3.2 million invested in technological infrastructure in 2023
  • Enhanced cybersecurity protocols implemented
  • Expanded mobile banking feature set



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

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

Customer-Centric Approach

As of 2024, The First of Long Island Corporation maintains a strong commitment to customer service excellence.

Customer Satisfaction Metric 2024 Performance
Customer Retention Rate 92.3%
Net Promoter Score 68

Financial Integrity and Transparency

FLIC demonstrates rigorous financial standards and reporting practices.

  • Audit compliance rate: 100%
  • Independent financial review completed quarterly
  • Sarbanes-Oxley Act compliance maintained
Financial Transparency Metric 2024 Data
External Audit Findings Zero material weaknesses
Regulatory Reporting Accuracy 99.8%

Community Engagement

Community investment remains a critical core value for FLIC.

Community Investment Category 2024 Contribution
Total Community Donations $487,600
Local Nonprofit Support 37 organizations

Ethical Business Practices

FLIC maintains stringent ethical standards across operations.

  • Corporate ethics training completed by 100% of employees
  • Zero reported ethical violations in 2024
  • Comprehensive whistleblower protection program

Technological Innovation

Technology investment remains a strategic priority.

Technology Investment Metric 2024 Value
Annual Technology Budget $2.3 million
Digital Banking Platform Upgrade Completed Q2 2024

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