First Keystone Corporation reports recurring developments as the parent company of First Keystone Community Bank, a Pennsylvania community bank offering business and personal banking products. Company news centers on unaudited earnings releases, quarterly dividend declarations, and operating trends across deposits, loans, interest income, interest expense, non-interest income, securities gains or losses, and credit-loss provisions.
Updates also describe the bank’s office network in Columbia, Luzerne, Montour, Monroe, and Northampton counties. Recurring financial commentary includes deposit mix changes involving retail and brokered certificates of deposit, commercial real estate loan activity, mortgage-loan sale gains, ATM and debit card fee income, stockholders’ equity, accumulated other comprehensive loss, and balance-sheet measures tied to the regional banking business.
First Keystone Corporation (OTC PINK: FKYS) declared a $0.27 quarterly cash dividend and a $0.01 special dividend for shareholders of record as of March 11, 2021, totaling $0.28 per share. This is an increase from the previous year's $0.27 quarterly dividend. For 2020, the Corporation achieved record levels with assets of $1.18 billion, up 17.1%, net income increasing 15.7% to $11.84 million, and total deposits growing 23.1% to $937.49 million.
First Keystone Corporation (OTC Pink: FKYS) reported a net income of $11.84 million for the year ending December 31, 2020, representing a 15.7% increase from 2019. The net income per share was $2.03, and dividends totaled $1.08 per share. Total interest income rose by $1.04 million (2.7%) due to strong loan growth, particularly in commercial real estate. However, non-interest expenses increased by $1.18 million largely from higher employee benefits and occupancy costs. Total assets grew to $1.18 billion, boosted by a 11.2% rise in net loans and a 23.1% increase in deposits.