secwatch.observer — SEC 8-K summary
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Issuer:     FIRST KEYSTONE CORP (FKYS)
CIK:        0000737875
Form:       8-K
Filed at:   2024-06-10T23:59:59+00:00
Accession:  0000737875-24-000027
Event type: earnings
Sentiment:  negative
Materiality: 0.70
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

First Keystone reports Q1 net loss of $18.4M, records $19.1M goodwill impairment
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- Net loss per share $3.00 vs net income in Q1 2023; net income decreased by $19.7M.
- Goodwill impairment of $19.1M triggered by stock price decline in Q1 2024.
- Total interest income up 27.3% but interest expense up $3.97M due to deposit costs and borrowing.
- Non-interest expense rose to $27.1M from impairment and salary/wage increases.
- Stockholders' equity decreased 17.0% ($21.3M) due to impairment and securities/derivative losses.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/737875/000073787524000027/0000737875-24-000027-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/737875/000073787524000027/fkys-20240331x8k.htm
  HTML page:      https://secwatch.observer/filing/0000737875-24-000027

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