First Keystone Corporation Announces First Quarter Dividend

Rhea-AI Summary

First Keystone (OTC PINK: FKYS) has declared a quarterly cash dividend of $0.28 per share, payable March 31, 2025, to shareholders of record as of March 13, 2025. This matches the dividend paid in Q1 2024.

The company reported strong performance indicators for 2024:

• Assets reached $1.43 billion (↑0.9%)
• Total Net Loans grew to $940.8 million (↑4.1%)
• Total Deposits increased to $1.05 billion (↑6.7%)
• Net interest income rose to $8.65 million (↑18.2%)
• Net income grew to $2.29 million (↑28.4%)
• Earnings per share increased to $0.38 (↑31.0%)

Positive

• Net income surged 28.4% to $2.29M
• EPS grew 31% to $0.38
• Net interest income up 18.2% to $8.65M
• Deposits increased 6.7% to $1.05B
• Loan portfolio expanded 4.1% to $940.8M
• Maintained stable quarterly dividend of $0.28

Negative

• Asset growth modest at 0.9%

BERWICK, Pa.--(BUSINESS WIRE)-- First Keystone Corporation (the “Corporation”) (OTC PINK: FKYS), parent company of First Keystone Community Bank, declared a $0.28 per share quarterly cash dividend to shareholders of record as of March 13, 2025, payable March 31, 2025.

Cash dividends amounted to $0.28 per share for the first quarter of 2025, the same amount paid in the first quarter of 2024.

During 2024, the Corporation again achieved some record balance sheet levels and continued profitability. Key performance indicators and balance sheet measures at December 31, 2024 and quarter-to-date income statement results as of December 31, 2024 vs. the same period in 2023 are as follows:

• Assets amounted to $1,428,583,000, an increase of 0.9%
• Total Net Loans grew 4.1% to $940,779,000
• Total Deposits were $1,045,880,000, a 6.7% increase
• Net interest income increased 18.2% to $8,649,000
• Net income increased 28.4% to $2,287,000 and on a per share basis, 31.0% to $0.38/share

The Corporation looks forward to 2025 as being the financial services provider of choice to our customers and the communities we serve.

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.

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.

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.

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.

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

View source version on businesswire.com: https://www.businesswire.com/news/home/20250227245051/en/

First Keystone Corporation

Jack W. Jones

570-752-3671

Source: First Keystone Corporation

FAQ

What is First Keystone's (FKYS) Q1 2025 dividend amount and payment date?

First Keystone will pay $0.28 per share on March 31, 2025, to shareholders of record as of March 13, 2025.

How did First Keystone's (FKYS) net income perform in 2024?

FKYS's net income increased by 28.4% to $2.287 million, with earnings per share growing 31% to $0.38.

What was First Keystone's (FKYS) deposit growth in 2024?

Total deposits grew 6.7% to $1.046 billion in 2024.

How much did First Keystone's (FKYS) loan portfolio grow in 2024?

Total Net Loans increased by 4.1% to $940.78 million in 2024.

What was First Keystone's (FKYS) net interest income growth in 2024?

Net interest income increased by 18.2% to $8.649 million.