First Keystone Corp 8-K, filed Jun 2, 2021
First Keystone Corp (FKYS)
About this 8-K
First Keystone Corp filed this 8-K on June 2, 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
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Title of each class | Trading symbol | Name of each exchange on which registered |
OTC: Pink |
ITEM 8.01. OTHER EVENTS
On June 2, 2021, First Keystone Corporation (the “Corporation”), parent company of First Keystone Community Bank, issued a press release reporting the declaration of their second quarter dividend. 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 June 2, 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) | |
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By: | /s/ Elaine A. Woodland | |
| Elaine A. Woodland | |
| President and CEO | |
| | |
| Date: | June 2, 2021 |
Exhibit 99.1
FIRST KEYSTONE CORPORATION ANNOUNCES
SECOND QUARTER DIVIDEND
Berwick, Pennsylvania – June 2, 2021- First Keystone Corporation (OTC Pink: FKYS), parent company of First Keystone Community Bank, declared a $0.27 per share quarterly cash dividend to shareholders of record as of June 10, 2021, payable June 30, 2021.
Total cash dividends year-to-date per share will be $0.55 as of June 30, 2021, an increase of $0.01 or 1.85% per share compared to year-to-date cash dividends paid as of June 30, 2020.
During the first quarter 2021, the Corporation achieved record balance sheet levels and continued increased profitability. Key performance indicators and balance sheet measures at March 31, 2021 and year-to-date income statement results as of March 31, 2021 vs. the same period in 2020:
| ● | Assets reached a high of $1,215,521,000, an increase of 18.3% |
| ● | Total Net Loans grew 9.25% to $714,942,000 |
| ● | Total Deposits reached $977,857,000, a 33.1% increase |
| ● | Net income increased 88.9% to $3,878,000 while net income per share increased 88.6% to $0.66/share |
| ● | Return on assets of 1.30% |
| ● | Return on equity of 11.60% |
The Corporation looks forward to being a trusted partner in the lives of our clients and the communities we serve in 2021 and beyond.
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 (“SEC”). 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.