First Keystone Announces Third Quarter 2024 Earnings (Unaudited)
First Keystone Corp (FKYS)
NASDAQ:AMEX Investor Relations:
firstkeystonecorporation.com
Company Research
Source: Business Wire
BERWICK, Pa.--(BUSINESS WIRE)--First Keystone Corporation (OTC Pink: FKYS), parent company of First Keystone Community Bank, reported an increase in total interest income by $11,586,000 or 28.1%, as compared to the nine months ended September 30, 2023. The increase was predominantly due to increased interest rates, growth in commercial real estate loans, and the purchase of higher yielding securities. Total interest expense increased by $9,752,000 or 50.3% primarily due to a $10,232,000 increase in interest paid to depositors to retain and grow deposit relationships, and increased levels of long-term borrowings and brokered CDs leveraged for a balance sheet strategy. The net effect of the derivatives on net interest income was $1,283,000 for the nine months ended September 30, 2024. The provision for credit losses increased by $1,828,000 as compared to the nine months ended September 30, 2023 due to loan portfolio growth and a large charge-off completed during the third quarter of
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FKYS
Sec Filings
- 11/27/24 - Form 8-K
- 11/27/24 - Form 8-K
- 11/25/24 - Form 4
- FKYS's page on the SEC website