FIRST KEYSTONE CORP - FKYS STOCK NEWS

First Keystone Corporation, parent company of First Keystone Community Bank, reported a net income of $2,496,000 for the six months ended June 30, 2023. Net income per share was $0.41 while dividends totaled $0.56 per share. Net income decreased by 66.1% compared to the same period in 2022 due to increases in interest expense and non-interest expense. Total interest income increased by 24.0% primarily due to increased interest rates and growth in commercial real estate loans. Total interest expense increased by $9,543,000 primarily due to increased interest paid to depositors and short-term borrowings. Non-interest income increased by 3.0% mainly due to gains on sales of mortgage loans and ATM and debit card fees. Non-interest expense increased by 13.7% mainly due to increases in salaries and employee benefits, ATM and debit card expense, occupancy expenses, data processing expenses, and professional services expense. Total assets increased by 0.3% to $1,307,899,000.

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.

First Keystone Corporation (OTC Pink: FKYS) reported a net income of $10,869,000 for the nine months ending September 30, 2022, with a decrease of $637,000 or 5.5% from last year. Earnings per share were $1.82, with dividends at $0.84 per share. Total interest income rose by $2,387,000 or 7.6%, but non-interest income fell by $1,041,000 or 19.1%. Total assets decreased by $65,689,000 or 4.7%. Stockholders’ equity dropped by $32,365,000 or 21.9% due to market value losses.

First Keystone Corporation (OTC PINK: FKYS) announced a quarterly cash dividend of $0.28 per share, payable on September 30, 2022, to shareholders of record as of September 8, 2022. This brings total cash dividends to $0.84 per share for 2022, reflecting a 1.20% increase compared to the previous year. As of June 30, 2022, total assets were $1.30 billion, with net loans growing by 8.4% and net interest income rising 7.2%. However, net income decreased 1.6% to $7.37 million.