secwatch.observer — SEC 8-K summary
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Issuer:     FIRST KEYSTONE CORP (FKYS)
CIK:        0000737875
Form:       8-K
Filed at:   2024-01-31T23:59:59+00:00
Accession:  0000737875-24-000004
Event type: earnings
Sentiment:  negative
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

First Keystone FY2023 net income falls 60.4% to $5.56M; EPS $0.91
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- Net income $5.56M vs $14.02M in 2022; EPS $0.91; dividends $1.12 per share.
- Interest expense surged $18.96M, led by $11.85M higher deposit costs and $6.84M more FHLB borrowings.
- Net interest margin compressed as interest income rose $10.58M but expense grew faster.
- Non-interest expense up 9.2% to $29.25M on salaries, data processing, and professional fees.
- Total assets $1.416B (+6.5%); deposits decreased 1.3% with shift from transactional to term.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/737875/000073787524000004/0000737875-24-000004-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/737875/000073787524000004/fkys-20240131x8k.htm
  HTML page:      https://secwatch.observer/filing/0000737875-24-000004

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