First Keystone Q1 net income down 8.6% to $3.5M on mortgage loan losses

FIRST KEYSTONE CORP

2022-Q1 EPS reported $0.60

Net income of $3.5M ($0.60 EPS), down $335K or 8.6% YoY; dividends $0.28/share.
Non-interest income fell $308K (17.5%) due to losses on mortgage loan sales and securities.
Interest income +$354K (+3.4%) offset by $246K drop in PPP loan fees.
Non-interest expense +$319K (+5.1%) on higher salaries, healthcare, and new software.
Total assets up 6.7% to $1.3B; equity down 6.6% ($9.4M) due to AOCI loss from securities.

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