First Keystone Corp 8-K, filed Aug 27, 2021
First Keystone Corp (FKYS)
About this 8-K
First Keystone Corp filed this 8-K on August 27, 2021, reporting on events of August 25, 2021.
Items reported
- Item 8.01: Other events
- Item 9.01: Financial statements and exhibits
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(D)
OF THE SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest reported):
(Exact name of registrant as specified in its Charter) |
(State or other jurisdiction | (Commission | (IRS Employer |
of incorporation) | File Number) | Identification No. |
(Address of principal executive offices) | (Zip Code) |
Registrant's telephone number, including area code: (
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 |
OTC: Pink |
ITEM 8.01. OTHER EVENTS
On August 25, 2021, First Keystone Corporation (the “Corporation”), parent company of First Keystone Community Bank, issued a press release reporting the declaration of their third quarter dividend. In addition, the Corporation declared a special dividend to shareholders. A copy of this press release is attached to this Current Report on Form 8-K as Exhibit 99.1.
ITEM 9.01. FINANCIAL STATEMENTS AND EXHIBITS
(a) Not applicable
(b) Not applicable
(c) Not applicable
(d) Exhibits
Exhibit No. | Description |
99.1 | Press Release of First Keystone Corporation dated August 25, 2021 |
104 | Cover Page Interactive Data File (the cover page XBRL tags are embedded in the Inline XBRL document). |
Signatures
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this Current Report on Form 8-K to be signed on its behalf by the undersigned, there unto duly authorized.
| FIRST KEYSTONE CORPORATION | |
| (Registrant) | |
|
|
|
By: | /s/ Elaine A. Woodland | |
| Elaine A. Woodland | |
| President and CEO | |
| | |
| Date: | August 25, 2021 |
Exhibit 99.1
FIRST KEYSTONE CORPORATION ANNOUNCES
THIRD QUARTER AND SPECIAL DIVIDENDS
Berwick, Pennsylvania – August 25, 2021 - First Keystone Corporation (the “Corporation”) (OTC PINK: FKYS), parent company of First Keystone Community Bank, declared a $0.27 per share quarterly cash dividend and a $0.01 per share special dividend to shareholders of record as of September 9, 2021, payable September 30, 2021.
Quarterly cash dividends and the special cash dividend amounted to a total of $0.28 per share for the third quarter of 2021, as compared to the quarterly cash dividend per share of $0.27 paid in the third quarter of 2020.
During 2021, the Corporation achieved record balance sheet levels and continued increased profitability even with challenges presented as a result of the pandemic. Key performance indicators at June 30, 2021 and year-to-date June 30, 2021 vs. the same period in 2020:
| ● | Assets reached a high of $1,310,466,000, an increase of 22.6% |
| ● | Total Net Loans grew 9.6% to $733,781,000 |
| ● | Total Deposits reached $1,063,347,000, a 25.9% increase |
| ● | Net income increased 37.7% to $7,483,000 and 36.6% to $1.27/share |
| ● | Return on assets of 1.23% |
| ● | Return on equity of 10.24% |
The Corporation is honored to be a trusted partner in the lives of our customers and the communities we serve, and would like to take this opportunity to return a portion of our financial success to our valued shareholders.
Management considers subsequent events occurring after the balance sheet date for matters which may require adjustment to, or disclosure in, the consolidated financial statements. The review period for subsequent events extends up to and including the filing date of a public company’s consolidated financial statements when filed with the Securities and Exchange Commission . Accordingly, the financial information in this announcement is subject to change.
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; Boenning & Scattergood, Inc., 800-883-1212; 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 Elaine A. Woodland at 570-752-3671.