Annual Shareholders’ Meeting April 19, 2016 · Annual Shareholders’ Meeting April 19, 2016 ....
Transcript of Annual Shareholders’ Meeting April 19, 2016 · Annual Shareholders’ Meeting April 19, 2016 ....
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Michael N. Vittorio President & CEO
Annual Shareholders’ Meeting April 19, 2016
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Safe Harbor Statement
This presentation contains forward-looking statements regarding the outlook for The First of Long Island
Corporation’s (“FLIC”) business, FLIC’s plans and objectives, and market trends and other matters, and are
based on FLIC’s assumptions and beliefs. These forward-looking statements are subject to certain risks and
uncertainties that could cause actual results to differ materially from those discussed in such statements and
no assurance can be given that the results in any forward-looking statement will be achieved. For these
statements, FLIC claims the protection of the safe harbor for forward-looking statements contained in the
Private Securities Litigation Reform Act of 1995. Any forward-looking statement speaks only as of the date
on which it is made, and we disclaim any obligation to subsequently revise any forward-looking statement
to reflect events or circumstances after such date or to reflect the occurrence of anticipated or unanticipated
events.
Certain factors could cause FLIC’s future results to differ materially from those expressed or implied in any
forward-looking statements contained in this presentation. These factors include the factors discussed in
Part I, Item 1A of FLIC’s Annual Report on Form 10-K for the year ended December 31, 2015 under the
heading “Risk Factors” and any other cautionary statements, written or oral, which may be made or referred
to in connection with any such forward-looking statements. Since it is not possible to foresee all such
factors, these factors should not be considered as complete or exhaustive.
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• Net Income increased 12.5%
• Earnings Per Share increased 10.9%
• Cash Dividends Per Share increased 8.3%
• Total Assets increased 15% and exceeded $3.1 Billion at Year End
2015 Highlights
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Our Footprint
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Year-End 2000 Branch Distribution
19 Branches 9 Commercial Banking Units 10 Full Service Branches
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Year-End 2005 Branch Distribution
24 Branches
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Year-End 2010 Branch Distribution
33 Branches
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Coming Soon
Branch Distribution 2016
Existing Branch
46 Branches
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Possible Future Branch
Queens Branch Distribution
Existing Branch
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Possible Future Branch
Brooklyn Branch Distribution
Coming Soon
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Year-End 2000 Branch Distribution
19 Branches
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Possible Future Branch
Branch Distribution Summary
Coming Soon Existing Branch
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Howard Beach Branch
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Whitestone Branch
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Hewlett Branch
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Investment of Choice Investment of Choice
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Net Income CAGR = 7.7%
12.5% Increase
(in
mill
ion
s)
$11.2 $11.5
$13.0 $13.5
$18.4 $19.5
$20.4 $21.3
$23.0
$25.9
$0.0
$5.0
$10.0
$15.0
$20.0
$25.0
$30.0
2006 2007 2008 2009 2010 2011 2012 2013 2014 2015
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Earnings Per Share CAGR = 5.9%
10.9% Increase
$.97 $1.01
$1.18 $1.23
$1.53 $1.46
$1.51 $1.55 $1.65
$1.83
$.00
$.20
$.40
$.60
$.80
$1.00
$1.20
$1.40
$1.60
$1.80
$2.00
2006 2007 2008 2009 2010 2011 2012 2013 2014 2015
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Dividends Per Share CAGR = 10.4%
8.3% Increase
$.33
$.39 $.44
$.51 $.56
$.60 $.64
$.68 $.72
$.78
$.00
$.10
$.20
$.30
$.40
$.50
$.60
$.70
$.80
$.90
2006 2007 2008 2009 2010 2011 2012 2013 2014 2015
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Book Value Per Share CAGR = 8.5%
$8.40 $9.15 $9.50
$10.77 $12.00
$14.35 $15.21 $15.06
$16.80 $17.78
$.00
$2.00
$4.00
$6.00
$8.00
$10.00
$12.00
$14.00
$16.00
$18.00
$20.00
2006 2007 2008 2009 2010 2011 2012 2013 2014 2015
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FLIC Stock Price Performance
$100 $94.71 $105.35
$164.09 $166.36 $182.27
$91.52 $98.47
$149.06 $147.97 $156.47
$0
$50
$100
$150
$200
$250
1/1/11 12/31/11 12/31/12 12/31/13 12/31/14 12/31/15
Dividends Reinvested Simple Price Appreciation
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$100.00
$119.73
$142.64
$120.64 $128.10
$113.09
$148.82
$162.98
$191.05
$180.82
$201.16
$237.53
$117.81
$138.22
$115.75 $120.44
$101.64
$130.14 $138.36
$157.59
$144.22
$155.18
$181.86
$0.00
$50.00
$100.00
$150.00
$200.00
$250.00
12/31/2002 12/31/2003 12/31/2004 12/31/2005 12/31/2006 12/31/2007 12/31/2008 12/31/2009 12/31/2010 12/31/2011 12/31/2012 6/28/2013
Div. Reinv. $100.00 $119.73 $142.64 $120.64 $128.10 $113.09 $148.82 $162.98 $191.05 $180.82 $201.16 $237.53
Simple Price Apprec. $100.00 $117.81 $138.22 $115.75 $120.44 $101.64 $130.14 $138.36 $157.59 $144.22 $155.18 $181.86
FLIC Stock Price Performance Assuming Dividend Reinvestment and Simple Price Appreciation
Total Return Statistics: Simple Price Appreciation 81.86%; Dividends Reinvested 137.53% CAGR: Simple Price Appreciation 5.86%; Dividends Reinvested 8.58%
FLIC Stock Price Performance
$100 $106.29 $93.39
$123.35 $135.33
$159.20 $150.78 $167.72
$261.24 $264.85
$290.18
$104.05 $87.81
$112.43 $119.53
$136.14 $124.59 $134.06
$202.93 $201.44 $213.02
$0
$50
$100
$150
$200
$250
$300
$350
Dividends Reinvested Simple Price Appreciation
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Growth
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Total Assets CAGR = 12.8%
15.0% Increase
$2,022 $2,108
$2,400
$2,721
$3,130
$
$500
$1,000
$1,500
$2,000
$2,500
$3,000
$3,500
12/31/11 12/31/12 12/31/13 12/31/14 12/31/15
(in
mill
ion
s)
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Total Loans CAGR = 20.0%
24.6% Increase
$986
$1,147
$1,478
$1,805
$2,248
$
$500
$1,000
$1,500
$2,000
$2,500
12/31/11 12/31/12 12/31/13 12/31/14 12/31/15
(in
mill
ion
s)
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Total DDA CAGR = 15.0%
18.6% Increase
$436
$529
$599
$656
$778
$
$100
$200
$300
$400
$500
$600
$700
$800
$900
12/31/11 12/31/12 12/31/13 12/31/14 12/31/15
(in
mill
ion
s)
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Total Deposits CAGR = 12.1%
15.1% Increase
$1,503
$1,633 $1,782
$1,985
$2,285
$
$500
$1,000
$1,500
$2,000
$2,500
12/31/11 12/31/12 12/31/13 12/31/14 12/31/15
(in
mill
ion
s)
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Credit Quality
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2015
2014
Asset Quality* Peer Average FLIC Peer Average FLIC
Nonaccruing Loans/Loans .63% .06% .93% .09%
Net Charge Offs/Avg. Loans .09% .01% .15% .05%
* Comparison of FLIC performance metrics for 2015 and 2014 to the applicable national peer group averages.
Credit Quality Comparison
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Current Conditions
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• Interest Rates Remain Low and Volatile
• Net Interest Margin Remains Under Pressure
• Continued Focus On Expanding Several Sources of
Noninterest Income
• Risk Regarding Eventual Increase in Interest Rates
• Credit Quality Remains Strong
• Branching Will Continue
• The Regulatory Environment is Tough
Current Conditions
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Recognition
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The Corporation’s stock was named as a tangible book value winner by SNL Financial for its growth in TBV, among other criteria, for the twelve and three months ended March 31, 2014. (July 2014)
The First of Long Island Corporation was recognized by SNL Financial as one of the Top 100 Best-Performing Community Banks in 2015. (March 2016)
Sandler O’Neill + Partners recognized The First of Long Island Corporation as a “recession resistant” bank in its Industry Note “Ideas to Bank On.” (February 2016)
The First National Bank of Long Island is named the 59th most-efficient bank in the country by American Banker.
2016
2015
2014
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Named as one of the two highest performing banks in New York State by Bank Intelligence Solutions, a division of FISERV, the global leader in information management and electronic commerce systems for the financial services industry.
“The First of Long Island Corporation is the 70th most efficient bank holding company in the country” as reported by the American Banker. (July 23, 2012)
“Best performing bank in New York State with assets between $500 million and $5 billion,” as reported by SNL Financial.
“Risk Management - How First of Long Island became the best little bank in America” as reported by Long Island Business News. (May 10-16, 2013) 2013
2012
2011
2010
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Q & A
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Congratulations
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Allen E. Busching Director Since 1999
17 Years of Service
J. Douglas Maxwell Jr. Director Since 1987
29 Years of Service