First of Long Island Corp. (FLIC) 2011年年度报告「NASDAQ」.pdf

1、FURTHER.FORWARD.2011annual reportNAVIGATING TO OVER$2 BILLION IN ASSETS2011 ANNUAL REPORT3A Message From The President&CEODear Shareholders:It is my pleasure to report The First of Long Island Corporation recorded net income of$19.5 million for 2011 versus$18.4 million for 2010 an increase of 5.8%.D

2、uring 2011,the Bank continued to grow at a very nice pace,with increases in total assets of$311 million,or 18.2%,total deposits of$210 million,or 16.2%,and total loans of$83 million,or 9.2%.Over the last four years,total assets grew at a compound annual growth rate(“CAGR”)of 17.3%,resulting in the b

3、alance sheet almost doubling in size from$1.1 billion to just over$2 billion.During this same time period,total deposits and loans grew at CAGRs of 14.7%and 17.0%,respectively.In combination with appropriate and effective expense control,our four-year net income CAGR is 14.1%.Book value per share gr

4、ew at a four-year CAGR of almost 12%.To you,this means an individual share of stock as measured by book value is worth a lot more today than it was only a few years ago.Last year,book value per share increased$3.54,or 19.7%.The reputation and brand of the Bank has contributed to our growth.We contin

5、ue to establish ourselves as a premiere retail banking organization within our local geography.A growing distribution system has also contributed to our momentum and positions the Bank well for the future.We have been described by one firm that writes research on the Bank as having a“cult-like dedic

6、ation to credit quality.”Excellent credit quality is one of the hallmarks of our Bank,and it is where“the rubber meets the road”in terms of differentiating us among our peers and the banking industry at large.We continue to manage loan growth and maintain a prudent reserve for loan losses.Our reserv