secwatch.observer — SEC 8-K summary
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Issuer:     FIRST KEYSTONE CORP (FKYS)
CIK:        0000737875
Form:       8-K
Filed at:   2024-10-31T23:59:59+00:00
Accession:  0000737875-24-000045
Event type: earnings
Sentiment:  negative
Materiality: 0.80
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

First Keystone posts $15.5M net loss for 9M 2024 on $19.1M goodwill impairment
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- Net loss of $15.49M ($2.52/share) for nine months ended Sep 30, 2024; net income down $19.27M YoY.
- Goodwill impairment charge of $19.13M in Q1 2024 was the primary cause of the net loss.
- Interest income up 28.1% but interest expense rose 50.3% due to higher deposit costs.
- Provision for credit losses increased $1.83M due to loan growth and a large charge-off in Q3 2024.
- Total assets grew 9.0% to $1.44B; stockholders' equity fell 6.7% from impairment and dividends.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/737875/000073787524000045/0000737875-24-000045-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/737875/000073787524000045/fkys-20240930x8k.htm
  HTML page:      https://secwatch.observer/filing/0000737875-24-000045

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