First Keystone (FKYS) cuts 2025 earnings but keeps $0.28 dividend

Rhea-AI Filing Summary

First Keystone Corporation amended a prior report about its first-quarter 2026 dividend to revise 2025 financial figures after adjusting its allowance for credit losses. The revised press release now shows assets of $1,530,977,000 at December 31, 2025, up 7.2% from year-end 2024.

Total loans are revised to $948,425,000, representing a slight decrease from $948,451,000 a year earlier. Net interest income for 2025 is updated to $37,651,000, an increase of 16.6% from 2024. Net income is reduced to $6,152,000, up 146.4% from 2024, with earnings per share revised to $0.99.

The company reaffirmed a $0.28 per share cash dividend for the first quarter of 2026, matching the first quarter of 2025, payable March 31, 2026 to shareholders of record on March 12, 2026.

Positive

• Revised 2025 results still show a 146.4% increase in net income to $6,152,000 versus 2024, indicating a strong earnings rebound even after higher credit loss allowances.
• The company maintained a $0.28 per share cash dividend for the first quarter of 2026, matching the prior year and signaling ongoing shareholder distributions.

Negative

• Allowance for credit losses adjustments led to a reduction in 2025 net income from $7,622,000 to $6,152,000 and EPS from $1.22 to $0.99, materially lowering previously reported profitability.
• The revision changed reported loan trends, with 2025 total loans now shown at $948,425,000, a slight decrease from 2024 instead of the previously reported increase.

Insights

Banking earnings and disclosure analyst

Allowance adjustments lowered 2025 profit but still show strong rebound.

First Keystone Corporation revised its 2025 results after adjusting its allowance for credit losses. Net income was reduced from $7.622M to $6.152M, and EPS from $1.22 to $0.99, yet both still more than doubled versus 2024.

Assets were slightly reduced to $1.531B, up 7.2% from 2024, while loans dipped marginally to $948.425M. These corrections modestly temper previously reported growth but leave a picture of solid profitability and balance sheet expansion for 2025.

The reaffirmed $0.28 per share dividend for the first quarter of 2026, unchanged from the prior year, indicates continued shareholder payouts alongside the updated credit-loss assumptions reflected in the new figures.

8-K Event Classification

2 items: 8.01, 9.01

2 items

Item 8.01 Other Events Other

Voluntary disclosure of events the company deems important to shareholders but not covered by other items.

Item 9.01 Financial Statements and Exhibits Exhibits

Financial statements, pro forma financial information, and exhibit attachments filed with this report.

Key Figures

Revised assets: $1,530,977,000 Revised total loans: $948,425,000 Revised net interest income: $37,651,000 +4 more

7 metrics

Revised assets $1,530,977,000 Total assets as of December 31, 2025, up 7.2% from 2024

Revised total loans $948,425,000 Loans at December 31, 2025, slight decrease from 2024

Revised net interest income $37,651,000 Net interest income for 2025, 16.6% higher than 2024

Revised net income $6,152,000 Net income for 2025, 146.4% above 2024 after revision

Revised EPS $0.99 per share Net income per share for 2025, 146.3% increase from 2024

Original net income $7,622,000 Previously reported 2025 net income before allowance changes

Quarterly dividend $0.28 per share Cash dividend for Q1 2026, same as Q1 2025

Key Terms

allowance for credit losses, net interest income, net income per share, forward-looking statements, +1 more

5 terms

allowance for credit losses financial

"to give effect to adjustments to the Corporation’s allowance for credit losses and related entries"

Allowance for credit losses is a reserve set aside by a financial institution to cover potential losses from borrowers who may not repay their loans. It acts like a safety net, helping the institution prepare for loans that might turn sour. For investors, it signals how cautious the institution is about the quality of its loans and potential risks to its financial health.

net interest income financial

"The Revised Press Release reports net interest income of $37,651,000 as of December 31, 2025"

Net interest income is the difference between the interest a financial institution earns on loans and investments and the interest it pays on deposits and borrowings. It matters to investors because it is a primary source of profit for banks and similar firms — like the gross margin on a store’s trade — and changes with loan growth, deposit costs and interest rates, so it signals core earning power and sensitivity to rate moves.

net income per share financial

"The Revised Press Release reports net income per share of $0.99, an increase of 146.3% from December 31, 2024"

Net income per share measures how much profit a company earned for each share of its stock by dividing total net profit (after all expenses and taxes) by the number of shares outstanding. Think of the company's profit as a pizza: this metric tells an investor how large a slice each share gets, which helps compare profitability across companies, assess returns on ownership, and track whether a company is growing profits on a per-share basis.

forward-looking statements regulatory

"This press release may contain forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995"

Forward-looking statements are predictions or plans that companies share about what they expect to happen in the future, like estimating sales or profits. They matter because they help investors understand a company's outlook, but since they are based on guesses and assumptions, they can sometimes be wrong.

Emerging growth company regulatory

"Emerging growth company"

An emerging growth company is a recently public or smaller public firm that qualifies for temporary, lighter regulatory and disclosure rules to reduce the cost and effort of being public. For investors, it means the company may provide less historical financial detail and face fewer reporting requirements than larger firms, so it can grow more quickly but also carries higher uncertainty—like buying a promising early-stage product with fewer user reviews.

Understanding 8-K Material Events →

PA0000737875false00007378752026-03-042026-03-04

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UNITED STATES SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

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FORM 8-K/A

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CURRENT REPORT

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PURSUANT TO SECTION 13 OR 15(D)

OF THE SECURITIES EXCHANGE ACT OF 1934

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Date of Report (Date of earliest reported): March 4, 2026

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FIRST KEYSTONE CORPORATION

(Exact name of registrant as specified in its Charter)

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PENNSYLVANIA	000-21344	23-2249083
(State or other jurisdiction	(Commission	(IRS Employer
of incorporation)	File Number)	Identification No.

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111 West Front Street, Berwick, Pennsylvania	18603
(Address of principal executive offices)	(Zip Code)

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Registrant's telephone number, including area code: (570) 752-3671

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Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

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☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

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☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

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☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

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☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

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Indicate by check mark whether the Registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

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Emerging growth company ☐

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If an emerging growth company, indicate by check mark if the Registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

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Securities registered pursuant to Section 12(b) of the Act:

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Title of each class	Trading symbol	Name of each exchange on which registered
Common stock	FKYS	OTCID

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EXPLANATORY NOTE

On March 4, 2026, First Keystone Corporation (the “Corporation”) filed a Current Report on Form 8-K (the “Original Form 8-K”) to report the first quarter dividend declaration. The Corporation is now filing this Amendment to the Original Form 8-K in order to amend the financial information as of the year ended December 31, 2025 furnished in Exhibit 99.1 to the Original Form 8-K to give effect to adjustments to the Corporation’s allowance for credit losses and related entries made subsequent to year-end.

ITEM 8.01.    OTHER EVENTS

On March 4, 2026, the Corporation filed the Original Form 8-K in which it furnished a copy of a press release announcing its declaration of the dividend for the first quarter of 2026 which contained key performance indicators and balance sheet measures as of December 31, 2025 and year-to-date income statement results as of December 31, 2025 (the “Original Press Release”). The Corporation is now filing this Amendment to furnish a revised press release (the “Revised Press Release”) to give effect to adjustments to the Corporation’s allowance for credit losses and related entries made subsequent to 2025 year-end.

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The Original Press Release reported assets of $1,532,439,000 or an increase of 7.3% from December 31, 2024. The Revised Press Release reports assets of $1,530,977,000 as of December 31, 2025, an increase of 7.2% from 2024 year-end.

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The Original Press Release reported total loans of $948,925,000, an increase of 0.1% from December 31, 2024. The Revised Press Release reports total loans of $948,425,000, a slight decrease from total loans of $948,451,000 as of December 31, 2024.

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The Original Press Release reported net interest income of $37,717,000, an increase of 16.8% from December 31, 2024. The Revised Press Release reports net interest income of $37,651,000 as of December 31, 2025, an increase of 16.6% from 2024 year-end.

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The Original Press Release reported net income of $7,622,000, an increase of 157.7% from December 31, 2024. The Revised Press Release reports net income of $6,152,000, an increase of 146.4% from 2024 year-end.

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The Original Press Release reported net income per share of $1.22, an increase of 157.0% from 2024 year-end. The Revised Press Release reports net income per share of $0.99, an increase of 146.3% from December 31, 2024.

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The Revised Press Release is attached enclosed as Exhibit 99.1 to this report and incorporated herein by reference. The information in Exhibit 99.1 shall not be deemed as “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933.

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ITEM 9.01.    FINANCIAL STATEMENTS AND EXHIBITS

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(a)    Not applicable

(b)    Not applicable

(c)    Not applicable

(d)    Exhibits

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Exhibit No.	Description
99.1	Press Release of First Keystone Corporation dated March 30, 2026
104	Cover Page Interactive Data File (the cover page XBRL tags are embedded in the Inline XBRL document).

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Signatures

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this Current Report on Form 8-K to be signed on its behalf by the undersigned, there unto duly authorized.

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	FIRST KEYSTONE CORPORATION
	(Registrant)
	By:	/s/ Jack W. Jones
	Jack W. Jones
	President and CEO
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	Date:	March 30, 2026

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Exhibit 99.1

FIRST KEYSTONE CORPORATION ANNOUNCES

FIRST QUARTER DIVIDEND

(AMENDED 2025 BALANCE SHEET AND INCOME STATEMENT RESULTS)

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Berwick, Pennsylvania – March 30, 2026 - First Keystone Corporation (the “Corporation”) (OTCID: FKYS), parent company of First Keystone Community Bank, declared a $0.28 per share quarterly cash dividend to shareholders of record as of March 12, 2026, payable March 31, 2026.

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Cash dividends amounted to $0.28 per share for the first quarter of 2026, the same amount paid in the first quarter of 2025.

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During 2025, the Corporation again achieved some record balance sheet levels and continued profitability. Key performance indicators and balance sheet measures at December 31, 2025 and year-to-date income statement results as of December 31, 2025 vs. the same period in 2024 are as follows:

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• Assets amounted to $1,530,977,000, an increase of 7.2%

• Total Loans decreased slightly from $948,451,000 to $948,425,000

• Total Deposits were $1,137,437,000, an 8.8% increase

• Net interest income increased 16.6% to $37,651,000

• Net income increased 146.4% to $6,152,000 and on a per share basis, 146.3% to $0.99/share

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The Corporation looks forward to 2026 as being the financial services provider of choice to our customers and the communities we serve.

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Management considers subsequent events occurring after the balance sheet date for matters which may require adjustment to, or disclosure in, the consolidated financial statements. The review period for subsequent events extends up to and including the filing date of a public company’s consolidated financial statements when filed with the Securities and Exchange Commission (“SEC”). Accordingly, the financial information in this announcement is subject to change.

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First Keystone Community Bank provides innovative business and personal banking products that focus on “Yesterday’s Traditions. Tomorrow’s Vision.” The Bank currently operates offices in Columbia (5), Luzerne (8), Montour (1), Monroe (4), and Northampton (1) counties.

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Inquiries regarding the purchase of the Corporation’s stock may be made through the following brokers: RBC Wealth Management, 800-223-4207; Janney Montgomery Scott, Inc., 800-526-6397; Boenning & Scattergood, Inc., 800-883-1212; and Stifel Nicolaus & Co. Inc., 800-679-5446.

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Note: This press release may contain forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. Actual results and trends could differ materially from those set forth in such statements due to various factors. These factors include operating, legal and regulatory risks, changing economic and competitive conditions and other risks and uncertainties.

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For more information on First Keystone Community Bank or its parent company, First Keystone Corporation, please contact Jack W. Jones at 570-752-3671.

FAQ

How did First Keystone Corporation (FKYS) change its 2025 net income in this amendment?

First Keystone reduced 2025 net income to $6,152,000 after revising its allowance for credit losses. The earlier figure was $7,622,000. Even after this adjustment, net income still increased 146.4% compared with 2024 year-end, reflecting a strong rebound in profitability.

What happened to First Keystone Corporation (FKYS) 2025 earnings per share?

Earnings per share for 2025 were revised to $0.99, down from the originally reported $1.22. Despite this reduction, the updated EPS still represents a 146.3% increase from 2024, showing that profitability per share more than doubled year over year.

How did the revised 2025 figures affect First Keystone Corporation (FKYS) loan balances?

The revised release reports total loans of $948,425,000 for 2025, slightly below the $948,451,000 reported at 2024 year-end. Previously, loans were shown as increasing. The update changes the trend from a small increase to a modest decline in loan balances.

What are First Keystone Corporation (FKYS) revised 2025 asset levels?

Assets are now reported at $1,530,977,000 as of December 31, 2025. This reflects a 7.2% increase from 2024 year-end. The original press release showed slightly higher assets of $1,532,439,000 and a 7.3% increase before the credit loss adjustments.

Did First Keystone Corporation (FKYS) change its first quarter 2026 dividend in this filing?

The company confirmed a $0.28 per share cash dividend for the first quarter of 2026, unchanged from the first quarter of 2025. It is payable on March 31, 2026, to shareholders of record as of March 12, 2026, maintaining the prior dividend level.

How were First Keystone Corporation (FKYS) 2025 net interest income figures revised?

Net interest income for 2025 was updated to $37,651,000, slightly below the previously reported $37,717,000. The revised figure still represents a 16.6% increase from December 31, 2024, highlighting continued growth in the bank’s core interest earnings.

Filing Exhibits & Attachments

4 documents

Press Releases

• EX-99.1 EX-99.1 9.4 KB

Other Documents

• EX-101 EX-101.SCH 2.8 KB
• EX-101 EX-101.LAB 14.3 KB
• EX-101 EX-101.PRE 9.8 KB