Get 40% Off
🚨 Volatile Markets? Find Hidden Gems for Serious Outperformance
Find Stocks Now

First Keystone maintains dividend amid profit dip

Published 06/03/2024, 21:08
© Reuters.

BERWICK, Pa. - First Keystone Corporation (OTC PINK: FKYS), the parent company of First Keystone Community Bank, announced a consistent quarterly cash dividend of $0.28 per share for the first quarter of 2024, mirroring the dividend amount from the same period in the previous year. This payment is slated for shareholders on record as of March 14, 2024, with distribution scheduled for March 28, 2024.

Despite maintaining its dividend, First Keystone Corporation disclosed a downturn in profitability and net interest income for the fourth quarter of 2023. The company reported a substantial 60.4% decrease in net income, falling to $5,560,000, and a decline in net interest income by 22.4%, amounting to $29,116,000. Earnings per share also saw a significant drop of 61.3% to $0.91.

Assets, however, showed a positive trajectory, increasing by 6.5% to reach $1,415,870,000. Total net loans also experienced growth, rising by 6.3% to $904,153,000. Conversely, total deposits slightly decreased by 1.3%, totaling $980,439,000. The return on assets stood at 0.42%, and the return on equity was reported at 4.55%.

The Corporation expressed optimism for the year ahead, aiming to be the financial services provider of choice in the communities it serves. First Keystone Community Bank operates across several Pennsylvania counties, offering a range of banking products and services.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.