Key Insights:
FLIC has shown remarkable resilience during major financial crises, including the 2008 global financial meltdown and the recent 2023 turmoil in the regional banking sector. Despite these strengths, its stock has been overlooked and is currently trading at levels similar to those seen in 2008-2009. When getting into the weeds you'll see FLIC has tons of liquidity, zero doubtful rated loans on the books, rock solid dividend yield and history, insiders consistently buying shares, corporate buy backs, owns the real estate of at least 20 of their 40 branch locations (in NYC/Long Island), minimal shares outstanding, upcoming earnings and dirt-cheap options.

Trading Activity Highlights:

• Market Sensitivity: This morning, FLIC’s stock saw nearly a 2% increase with less than 10,000 shares traded. Its low share count makes it sensitive to market shifts, meaning small trades can significantly impact the stock price.

Share Repurchase Strategy:

• Aggressive Buybacks: With a continuous $15 million buyback program and hefty insider purchases, there's a clear signal that those in the know believe in FLIC’s future.

Options Trading Opportunity:

• Affordable Options: The options market for FLIC is invitingly priced, providing a cost-effective way for investors to potentially profit from future stock movements.

Stability and Growth Prospects:

• Proven Stability: FLIC has navigated past financial storms with strategy and grace, bolstered by recent tech upgrades in fintech and cybersecurity.
• Financial Health: Solid capital ratios underpin its ability to maintain operations and seek growth, enhancing its appeal as a robust investment.

Dividend Consistency:

• Attractive Dividend Yield: For those looking for reliable income, FLIC’s strong track record of dividends is a major draw, especially if you’ve been burned by riskier bets this week.

Investment Rationale:

• Valuation and Earnings: Given the ongoing buybacks, insider enthusiasm, and strong fundamentals, my target price of around $17.40 based on a P/E of 15 and an EPS of $1.16 seems achievable for this stock before the end of the year, but don't trust me, FLIC's annual report pegs the book value at $16.83/share.

Conclusion: Why FLIC is Worth Watching

FLIC’s blend of strategic buybacks, insider confidence, and significant movement on small volume, alongside its solid financials and undervalued options, make it an intriguing prospect for those looking for a mix of safety and growth in the financial sector.

Disclaimer: This is for informational purposes only, not financial advice. Always do your own research or consult a professional.

Positions:

• 290 Shares
• 10 – 9/20 $10 C
• 5 – 12/20 $12.50 C