First Keystone Q1 net income falls 61.7% to $1.357M; EPS $0.23

FIRST KEYSTONE CORP

2023-Q1 EPS reported $0.23

Net income $1.357M vs $3.543M in Q1 2022, down 61.7%; diluted EPS $0.23.
Interest expense increased $4.33M, mainly due to higher rates; interest paid to depositors up $2.366M.
Non-interest expense rose $1.237M (19%) to $7.753M; salaries/benefits up $832K, professional fees up $137K.
Deposits decreased $97.6M (9.3%) YoY; net loans increased $85.0M (11.0%).
Stockholders' equity down $8.5M (6.4%) due to securities portfolio market value decline.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

FIRST KEYSTONE CORP reported three months ended March 31, 2023 results: net income $1,357,000, EPS $0.23.

Period: three months ended March 31, 2023
Net income: $1,357,000
EPS: $0.23
Result: reported results

Exact text from the filing

First Keystone Corporation (OTC Pink: FKYS, the “Corporation”), parent company of First Keystone Community Bank, reported net income for the three months ended March 31, 2023 of $1,357,000. Net income per share was $0.23 while dividends totaled $0.28 per share for the three months ended March 31, 2023.

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Source: SEC EDGAR

accession 0000737875-23-000021

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