secwatch.observer — SEC 8-K summary
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Issuer:     FIRST KEYSTONE CORP (FKYS)
CIK:        0000737875
Form:       8-K
Filed at:   2026-10-01T19:49:53+00:00
Accession:  0000737875-26-000035
Event type: debt
Sentiment:  neutral
Materiality: 0.50
Item codes: 1.01, 2.03, 7.01, 9.01
LLM model:  deepseek-v4.1-flash:cloud@v2

First Keystone closes $32.5M 7.50% subordinated notes; to redeem $25M 2030 notes
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- Issued $32.5M aggregate principal of 7.50% fixed-to-floating subordinated notes due Sept. 30, 2036, priced at 100% of face.
- Fixed rate 7.50% until Sept. 30, 2031; then floating at Three-Month Term SOFR plus 277 bps, paid semi-annually then quarterly.
- Proceeds intended to redeem the company's $25.0M subordinated notes due Dec. 31, 2030 and for general corporate purposes.
- Notes intended to qualify as Tier 2 capital; unsecured and subordinated; cannot be redeemed before Sept. 30, 2031 except limited exceptions.
- Performance Trust Capital Partners, LLC served as sole placement agent; notes sold privately under Section 4(a)(2) and Rule 506(b).

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/737875/000073787526000035/0000737875-26-000035-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/737875/000073787526000035/fkys-20260930x8k.htm
  HTML page:      https://secwatch.observer/filing/0000737875-26-000035

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