First of Long Island reports Q2 EPS 31c, consensus 31c

Leverage Ratio of approximately 10.1% on June 30, 2023. Book value per share was $16.22 on June 30, 2023 versus $16.24 at year end 2022. CEO Chris Becker commented on the Company’s earnings: “Our earnings continue to be significantly impacted by actions taken by the Federal Reserve to combat rising inflation. The increase in the upper limit of the Fed’s target range for the federal funds rate from 0.25% in March 2022 to the current 5.50%, as well as other monetary and industry conditions, has resulted in a significant increase in our cost of funds that has not been matched by the increase in our yield on earning assets. We continue to take proactive steps to manage our business in the current interest rate environment, which includes continuing to execute on shifting our focus to commercial, relationship-based business as part of our strategic plan.”