The First of Long Island Corporation (NASDAQ:FLIC) Q4 2022 Earnings Call Transcript

Jay McConie: Yes. We’re going to be in the market from time-to-time in the quarter, we might be a little bit more cautious in the first half. Just we want to kind of see how this kind of plays out with the Fed, there’s a little battle going on between the Fed raising rates to between 5% and 6% when you see economists and you look at Fed Fund futures rate and they have the short end kind of coming down. And you can see the emergence get a little bigger with the 10-year trading in that 3.5 down maybe 75 basis points over the last quarter. So we’re getting more of an inversion and more of a disconnect and whether it’s a soft landing or hard landing, so we’re going to be a little bit cautious maybe in the first half just to preserve capital and then kind of see how things play out and then might be a little bit more aggressive in the second half.

Chris O’Connell: Great. Thanks, Chris and Jay. Appreciate the time. Thanks for taking my questions.

Chris Becker: Thank you.

Operator: Thank you. Our next question comes from Nicole Gulino from American Capital Partners. Nicole, you may proceed with your question.

Chris Becker: No question. Any question in the call? Or we okay. Okay.

Operator: That concludes our question session. I’ll turn the floor back over to Chris Becker for some final comments — closing comments.

Chris Becker: Well, thank you all for your attention and participation on today’s call. We’re certainly very pleased to present the results of another record year, and we look forward to talking to you at the end of the first quarter. Have a great rest of the day.