FKYS · First Keystone Corporation

First Keystone Corporation filed this 8-K/A on March 30, 2026, to amend its January 30, 2026 original 8-K with a revised press release reflecting post-year-end adjustments to allowance for credit losses. The key change is a significantly higher provision for credit losses of $3,601,000 versus the original $1,273,000, driven by two larger charge-offs and movement of a significant commercial real estate loan to non-accrual status in Q4 2025. Management notes these events are isolated and not indicative of broader loan portfolio deterioration. This adjustment reduced net income to $6,152,000 ($0.99 per share) from $7,622,000 ($1.22 per share), though still up $19,355,000 from 2024's loss primarily due to a $19,133,000 non-cash goodwill impairment in Q1 2024. Total interest income rose 8.1% to $5,777,000, fueled by commercial real estate loan growth, while interest expense increased modestly 1.0% to $405,000, with deposit costs up due to higher retail CDs ($135,733,000 increase) and brokered CDs, offset by lower short-term borrowings. Non-interest income grew 9.3% to $626,000, boosted by $224,000 net securities gains, life insurance proceeds, and fee income. Non-interest expense fell 33.0% to $16,670,000, mainly from the prior-year goodwill charge, though offset by rises in salaries, data processing, fraud write-off, and ATM replacements. Balance sheet shows total assets at $1,530,977,000 (up 7.2%), deposits up 8.8% with shift to term products, and equity up 5.9% from improved accumulated other comprehensive loss. Dividends of $1.12 per share were paid, exceeding revised EPS. Investors should note the forward-looking statements disclaimer on risks including economic and regulatory factors.