8-K - FKYS - Equibles

UNITED STATES SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(D)

OF THE SECURITIES EXCHANGE ACT OF 1934

Date of Report (Date of earliest reported): October 31, 2025

<br><br>
FIRST KEYSTONE CORPORATION<br><br>(Exact name of registrant as specified in its Charter)

PENNSYLVANIA	000-21344	23-2249083
(State or other jurisdiction	(Commission	(IRS Employer
of incorporation)	File Number)	Identification No.

111 West Front Street, Berwick, Pennsylvania	18603
(Address of principal executive offices)	(Zip Code)

Registrant's telephone number, including area code: (570) 752-3671

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

☐	Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐	Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐	Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐	Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Indicate by check mark whether the Registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the Registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Securities registered pursuant to Section 12(b) of the Act:

Title of each class	Trading symbol	Name of each exchange on which registered
Common Stock	FKYS	OTCID

ITEM 2.02. RESULTS OF OPERATIONS AND FINANCIAL CONDITION

On October 31, 2025, First Keystone Corporation, parent company of First Keystone Community Bank, announced its unaudited earnings for the period ending September 30, 2025. The press release announcing third quarter earnings is filed as Exhibit 99.1 and incorporated herein by reference.

ITEM 9.01. FINANCIAL STATEMENTS AND EXHIBITS

(a) Not applicable

(b) Not applicable

(d) Exhibits

Exhibit No.	Description
99.1	Press Release of First Keystone Corporation dated October 31, 2025.
104	Cover Page Interactive Data File (the cover page XBRL tags are embedded in the Inline XBRL document).

Signatures

Pursuant to the requirements of Section 13 or 15(d) of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned, there unto duly authorized.

	FIRST KEYSTONE CORPORATION
	(Registrant)
	By:	/s/ Jack W. Jones
	Jack W. Jones
	President and CEO

Date: October 31, 2025

Exhibit 99.1

FIRST KEYSTONE ANNOUNCES

THIRD QUARTER 2025 EARNINGS (UNAUDITED)

Berwick, Pennsylvania – October 31, 2025 - First Keystone Corporation (OTC: FKYS), parent company of First Keystone Community Bank, reported an increase in interest income by $4,073,000 or 7.7%, as compared to the nine months ended September 30, 2024. The increase was predominantly due to growth in commercial real estate loans. Total interest expense decreased by $76,000 or 0.3% overall. Decreased levels of short-term borrowings resulted in a decrease of $1,759,000 in interest expense which was offset by an increase of $1,683,000 in interest expense related to deposits. The increased deposit interest for the nine months ended September 30, 2025 is mainly due to an increase of $1,239,000 in expense related to brokered CDs for which balances have increased $64,106,000 at September 30, 2025 versus September 30, 2024. The net effect of derivative agreements increased net interest income by $586,000 for the nine months ended September 30, 2025 and $1,283,000 for the nine months ended September 30, 2024. The provision for credit losses decreased by $723,000 as compared to the nine months ended September 30, 2024 mainly due to slower loan growth and a reduction to qualitative loss factors.

Non-interest income increased by $638,000 or 13.2% for the nine months ended September 30, 2025 as compared to the same period in 2024. Net securities gains/losses improved by $176,000 to a gain of $128,000 compared to net securities losses of $48,000 for the nine months ended September 30, 2024 as a result of changes in the mark-to-market adjustment on held equity securities. Other non-interest income increased $330,000 mainly due to $255,000 in gains from life insurance proceeds realized during the first half of 2025, a $40,000 increase in ATM and debit card fee income, and a $29,000 increase in gains on sales of mortgage loans.

Non-interest expense decreased during the nine months ended September 30, 2025 to $24,912,000. The decrease from the same period in 2024 was mainly the result of a full, non-cash, goodwill valuation impairment charge of $19,133,000 completed during the first quarter of 2024 from impairment testing performed as a result of the decrease in the Corporation’s stock price as a triggering event. This decrease was offset by $307,000 in other non-interest expense related to a fraud write off associated with a customer account in the first quarter of 2025, a combined $352,000 increase in furniture, equipment and computers expense related to the replacement of the bank’s ATM fleet, and a $239,000 increase in FDIC insurance expenses.

Income tax expense increased $964,000 during the nine months ended September 30, 2025, as compared to the same period in 2024 due to higher overall operating income.

Net income for the nine months ended September 30, 2025 was $6,775,000. Net income per share was $1.09 while dividends totaled $0.84 per share for the nine months ended September 30, 2025. Net income increased by $22,265,000 as compared to the same period in 2024. The increase was primarily due to the Corporation recognizing goodwill impairment of $19,133,000 in the first quarter of 2024.

Total Assets increased to $1,582,377,000 at September 30, 2025, an increase of $143,684,000 or 10.0% as compared to September 30, 2024. Securities and restricted stocks increased $1,149,000 and loans grew $23,134,000 as compared to September 30, 2024. Deposits increased by $172,585,000 or 16.9% at September 30, 2025 as compared to September 30, 2024. Retail CDs increased by $118,769,000 and other retail deposits decreased by $12,751,000, as the Corporation has experienced a shift from transactional deposits to term deposits. Brokered CDs increased by $64,106,000. Stockholders’ equity increased $4,908,000 or 4.6% mainly due to an improvement of $1,944,000 in accumulated other comprehensive loss and a $2,099,000 increase in retained earnings.

First Keystone Community Bank provides innovative business and personal banking products that focus on “Yesterday’s Traditions. Tomorrow’s Vision.” The Bank currently operates offices in Columbia (5), Luzerne (8), Montour (1), Monroe (4), and Northampton (1) counties.

Inquiries regarding the purchase of the Corporation’s stock may be made through the following brokers: RBC Dain Rauscher, 800-223-4207; Janney Montgomery Scott, Inc., 800-526-6397; and Stifel Nicolaus & Co. Inc., 800-679-5446.

Note: This press release may contain forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. Actual results and trends could differ materially from those set forth in such statements due to various factors. These factors include operating, legal and regulatory risks, changing economic and competitive conditions and other risks and uncertainties.

For more information on First Keystone Community Bank or its parent company, First Keystone Corporation, please contact Jack W. Jones at 570-752-3671.