Welcome to our dedicated page for First Keystone news (Ticker: FKYS), a resource for investors and traders seeking the latest updates and insights on First Keystone stock.
First Keystone Corporation (FKYS) is a Pennsylvania-based commercial banking company and the parent of First Keystone Community Bank. Its news flow, as reflected in Business Wire releases and related Form 8-K filings, centers on earnings updates, dividend declarations, and other corporate developments tied to its community banking operations.
Readers of this FKYS news page can follow the Corporation’s unaudited quarterly and annual earnings announcements, where management discusses interest income driven by commercial real estate loans, changes in interest expense on deposits and borrowings, the effect of derivative agreements on net interest income, and provisions for credit losses. These releases also outline movements in non-interest income and non-interest expense, including items such as securities gains or losses, gains from life insurance proceeds, ATM and debit card fees, and goodwill impairment charges.
The Corporation regularly issues press releases announcing quarterly cash dividends on its common stock, specifying the dividend per share, record dates, and payment dates, and comparing year-to-date dividend levels with prior years. News items also cover balance sheet themes such as total assets, total net loans, total deposits, shifts from transactional deposits to term deposits, and the use of brokered certificates of deposit.
In addition, First Keystone Corporation uses news releases and Form 8-K filings to report governance and leadership changes, including appointments to senior management roles. Investors and observers can use this page to review the sequence of earnings reports, dividend announcements, and corporate updates that the Corporation has chosen to highlight in its public communications.
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First Keystone Corporation (OTC PINK: FKYS) declared a quarterly cash dividend of $0.28 per share, payable on March 31, 2023, to shareholders of record as of March 16, 2023. This marks no change from the first quarter of 2022. The company reported a year-end balance sheet as of December 31, 2022, with total assets at $1,329,194,000 (up 0.7%) and net loans jumping 14.2% to $850,195,000. However, net income fell by 4.5% to $14,024,000, and earnings per share decreased to $2.35. The corporation aims to be the preferred financial services provider in its community.
First Keystone Corporation (OTC Pink: FKYS) reported a net income of $14,024,000 for the year ended December 31, 2022, with a decrease of $664,000 or 4.5% compared to 2021. Net income per share was $2.35, and dividends totaled $1.12 per share. Total interest income increased by $4,365,000 (10.4%), driven by higher interest rates and commercial real estate loans. However, non-interest income fell by $1,992,000 (27.2%), primarily due to losses on mortgage loans. Total assets reached $1,329,194,000, with a notable decrease in stockholders' equity by 19.0% due to market value declines.
First Keystone Corporation (OTC PINK: FKYS) announced a quarterly cash dividend of $0.28 per share for shareholders of record by December 8, 2022, payable on December 30, 2022. Total cash dividends for 2022 will be $1.12 per share, matching the previous year. As of September 30, 2022, the Corporation reported total assets of $1.32 billion (down 4.7%), total net loans of $836.46 million (up 11.8%), and net income of $10.87 million (down 5.5%). Return on assets and equity stood at 1.10% and 10.74%, respectively.