First Keystone Corporation Announces Quarterly Dividend
First Keystone Corporation (OTC PINK: FKYS), which is the parent company of First Keystone Community Bank, has shared an important update about its quarterly dividend. Shareholders can expect a cash dividend of $0.28 per share, demonstrating the company's ongoing commitment to providing value to its investors. This dividend will be given to 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 received a total of $0.84 per share in cash dividends this year—a figure consistent with the dividends given during the same period last year. This consistency in dividends highlights the corporation's effective financial management and its dedication to supporting its shareholders.
Performance and Financial Highlights
In its journey toward sustainable growth, First Keystone Corporation reached impressive balance sheet figures in the second quarter of 2024. Key indicators as of June 30, 2024, illustrate the corporation's performance:
Growth in Assets and Loans
The corporation reported total assets amounting to $1,418,228,000, reflecting a notable increase of 8.4%. Additionally, net loans increased by 5.9%, reaching $914,807,000, demonstrating strong demand for lending services.
Total Deposits and Income Overview
Total deposits reached $984,209,000, marking a healthy rise of 5.2%. However, it's worth mentioning that while net interest income grew by 3.8% to $15,476,000, the corporation faced a concerning net income decrease of 781.0%, resulting in $(16,997,000) or $(2.77) per share. This decline was primarily linked to a significant goodwill impairment and increasing interest and non-interest expenses the corporation encountered.
Commitment to Community and Customers
Despite the challenges it faces, First Keystone remains devoted to serving its customers and the communities in which it operates. The team at First Keystone Community Bank aims to be the financial services provider of choice, embodying the philosophy of "Yesterday’s Traditions. Tomorrow’s Vision." The bank operates across various counties, ensuring that banking products are easily accessible to all customers.
Inquiries About Stock Purchases
If you’re interested in buying shares of First Keystone Corporation, you can reach out to several brokerage firms. Contact RBC Dain Rauscher at 800-223-4207, Janney Montgomery Scott, Inc. at 800-526-6397, Boenning & Scattergood, Inc. at 800-883-1212, or Stifel Nicolaus & Co. Inc. at 800-679-5446 for assistance.
Customer Support and Communication
For more information about First Keystone Community Bank or its parent company, First Keystone Corporation, feel free to contact Elaine A. Woodland at 570-752-3671. She will be happy to help with any questions you may have.
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 distributed?
The dividend will be paid on October 11, 2024, to shareholders who are on record as of October 4, 2024.
What were the total assets reported by First Keystone Corporation?
As of June 30, 2024, First Keystone Corporation reported total assets of $1,418,228,000.
What challenges has the corporation faced recently?
First Keystone Corporation has seen a significant drop in net income, primarily due to a goodwill impairment and increasing expenses.
How can I buy stock in First Keystone Corporation?
You can purchase stock through various brokers, including RBC Dain Rauscher and Janney Montgomery Scott, Inc.
