The First of Long Island Corporation Reports Earnings for the First Quarter of 2025
The First of Long Island Corporation (FLIC)
Last the first of long island corporation earnings: 4/30 08:14 am
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US:NASDAQ Investor Relations:
fnbli.com/stock-information.aspx
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Source: GlobeNewswire
MELVILLE, N.Y., April 30, 2025 (GLOBE NEWSWIRE) -- The First of Long Island Corporation (Nasdaq: FLIC, the “Company” or the “Corporation”), the parent of The First National Bank of Long Island (the “Bank”), reported earnings for the three months ended March 31, 2025. Analysis of Earnings – First Quarter 2025 Versus Linked Quarter Net income for the first quarter of 2025 increased $512,000 compared to the fourth quarter of 2024. The increase in net income was primarily due to a $795,000 increase in net interest income largely due to an eight basis point improvement in the net interest margin, and a decrease in noninterest expense of $1.5 million primarily due to branch consolidation expenses of $1.4 million and vesting of equity awards during the fourth quarter of 2024 offset by pending merger related system conversion expenses of $468,000 and debit card chargeoffs of $243,000 during the first quarter of 2025. These were partially offset by a provision for credit losses of $168,000
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