First Keystone Corp reports H1 2023 net income $2.5M, down 66% YoY, as interest expense surges

FIRST KEYSTONE CORP

2023-Q2 EPS reported $0.41

Net income of $2.496M for six months ended June 30, 2023, down 66.1% from $7.365M in H1 2022.
EPS $0.41; dividends paid $0.56 per share for H1 2023.
Interest expense rose $9.543M (up sharply) due to higher deposit costs and Federal Home Loan Bank borrowings.
Deposits fell $57.8M (5.8%) vs. June 30, 2022, primarily municipal and savings accounts.
Stockholders' equity down $4.2M (3.3%) on larger accumulated other comprehensive loss from securities portfolio.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

FIRST KEYSTONE CORP reported the six months ended June 30, 2023 results: net income $2,496,000, EPS $0.41.

Period: the six months ended June 30, 2023
Net income: $2,496,000
EPS: $0.41
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 six months ended June 30, 2023 of $2,496,000. Net income per share was $0.41

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Source: SEC EDGAR

accession 0000737875-23-000043

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