First Keystone Corporation Declares Quarterly Dividend on Shares

First Keystone Corporation Declares Quarterly Dividend

First Keystone Corporation (OTC PINK: FKYS), the parent company of First Keystone Community Bank, has announced an exciting update regarding its quarterly dividend. Shareholders can look forward to a cash dividend of $0.28 per share, marking another commitment to returning value to investors. This dividend is set for those on the company's records as of October 4, 2024, and will be distributed on October 11, 2024.

Year-to-Date Cash Dividends

As of September 30, 2024, shareholders have already received a total of $0.84 per share in cash dividends during the year—a figure that mirrors the dividends issued by the corporation for the same timeframe last year. Maintaining consistent dividends is a testament to the corporation's solid financial management and ongoing commitment to its shareholders.

Financial Achievements and Performance Indicators

In its pursuit of sustainable growth, First Keystone Corporation achieved remarkable balance sheet levels in the second quarter of 2024. As of June 30, 2024, the following key indicators reflect the corporation's performance:

Assets and Loans Growth

The corporation reports total assets of $1,418,228,000, which showcases a significant increase of 8.4%. Furthermore, net loans saw a growth of 5.9%, reaching $914,807,000, indicating strong demand for lending services.

Total Deposits and Income

Total deposits reached $984,209,000, reflecting a healthy increase of 5.2%. However, it is crucial to note that while net interest income grew by 3.8%, totaling $15,476,000, the corporation experienced a concerning net income decrease of 781.0% to $(16,997,000) or $(2.77) per share. This drop was largely attributed to a significant goodwill impairment recognized by the corporation alongside rising interest and non-interest expenses.

Commitment to Community and Customers

Despite facing challenges, First Keystone remains dedicated to serving its customers and the communities it operates within. The team at First Keystone Community Bank is committed to being the financial services provider of choice, embodying the motto of “Yesterday’s Traditions. Tomorrow’s Vision.” The bank operates across multiple counties, ensuring convenient access to banking products.

Stock Purchase Inquiries

For those interested in purchasing shares of First Keystone Corporation, inquiries can be directed to various brokerage firms, including RBC Dain Rauscher at 800-223-4207, Janney Montgomery Scott, Inc. at 800-526-6397, Boenning & Scattergood, Inc. at 800-883-1212, and Stifel Nicolaus & Co. Inc. at 800-679-5446.

Communication and Customer Support

Should you require further information about First Keystone Community Bank or its parent company, First Keystone Corporation, please do not hesitate to reach out to Elaine A. Woodland at 570-752-3671, who will be more than happy to assist with your queries.

Frequently Asked Questions

What is the declared dividend for First Keystone Corporation?

First Keystone Corporation has declared a quarterly cash dividend of $0.28 per share.

When will the dividend be paid out?

The dividend will be payable on October 11, 2024, to shareholders on record as of October 4, 2024.

What were the assets reported by First Keystone Corporation?

As of June 30, 2024, First Keystone Corporation reported total assets of $1,418,228,000.

What challenges did the corporation face?

First Keystone Corporation experienced a significant decline in net income due to a goodwill impairment and rising expenses.

How can I purchase First Keystone Corporation's stocks?

Stock purchases can be facilitated through several brokers, including RBC Dain Rauscher and Janney Montgomery Scott, Inc.

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