secwatch.observer — SEC 8-K summary
======================================

Issuer:     FIRST KEYSTONE CORP (FKYS)
CIK:        0000737875
Form:       8-K
Filed at:   2023-07-31T23:59:59+00:00
Accession:  0000737875-23-000043
Event type: earnings
Sentiment:  negative
Materiality: 0.70
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/737875/000073787523000043/0000737875-23-000043-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/737875/000073787523000043/fkys-20230731x8k.htm
  HTML page:      https://secwatch.observer/filing/0000737875-23-000043

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer