First Keystone Corp. · OTC:FKYS
First Keystone — Debt Investor Presentation (October 2026)
40 slides from First Keystone's debt investor presentation, Oct 1, 2026
Slide 1: Private Placement of Subordinated Notes
35-31-32 1-86-151 Secondary Primary Font Color 0-0-0 195-178-103 Private Placement of Subordinated Notes CONFIDENTIAL September 10, 2026 First Keystone Corporation Holding Company for: FOR INSTITUTIONAL USE ONLY
Slide 2: Notice to Recipients
35-31-32 1-86-151 Secondary Primary Font Color 0-0-0 195-178-103 Notice to Recipients 2 This confidential presentation (this “Presentation”) has been prepared solely for general informational purposes by First Keystone Corporation (the “Company,” the “holding company,” “we,” or “our”), a Pennsylvani
Slide 3: Offering Disclaimer
35-31-32 1-86-151 Secondary Primary Font Color 0-0-0 195-178-103 Offering Disclaimer This Presentation is confidential and may not be reproduced or redistributed, passed on or divulged, directly or indirectly, to any other person. The Company reserves the right to request the return of this Presenta
Slide 4: Table of Contents
35-31-32 1-86-151 Secondary Primary Font Color 0-0-0 195-178-103 Table of Contents I Executive Summary 5 II Management Team Overview 12 III Capital Highlights 14 IV Assets Highlights 18 V Liabilities Highlights 24 VI Income Statement Highlights 26 VII Appendix 31 4
Slide 5: I. Executive Summary
35-31-32 1-86-151 Secondary Primary Font Color 0-0-0 195-178-103 I. Executive Summary 5
Slide 6: Terms of the Offered Securities
35-31-32 1-86-151 Secondary Primary Font Color 0-0-0 195-178-103 Terms of the Offered Securities Issuer: First Keystone Corporation (“Company” or “FKYS”), the bank holding company of First Keystone Community Bank (“Bank”) Security: Unsecured Fixed-to-Floating Rate Subordinated Notes Principal Amount
Slide 7: Investment Highlights
35-31-32 1-86-151 Secondary Primary Font Color 0-0-0 195-178-103 Investment Highlights Source: S&P Capital IQ Pro, Company documents Note: Consolidated (GAAP) financial data, unless otherwise noted (1) Bank-level financial data, Core deposits are a non-GAAP financial measure; please see page 39 for
Slide 8: First Keystone Corporation Overview
35-31-32 1-86-151 Secondary Primary Font Color 0-0-0 195-178-103 First Keystone Community Bank (19) First Keystone Corporation Overview Source: S&P Capital IQ Pro, company documents, company website Note: Consolidated (GAAP) financial data shown for the years ended December 31, and for the quarter e
Slide 9: Columbia County market overview
35-31-32 1-86-151 Secondary Primary Font Color 0-0-0 195-178-103 ▪ Columbia County’s main industries of employment are healthcare and social assistance, manufacturing, retail trade, education, and public administration ▪ The top paying industries of employment include utilities at an average salary
Slide 10: Luzerne County market overview
35-31-32 1-86-151 Secondary Primary Font Color 0-0-0 195-178-103 ▪ Luzerne County, PA is the largest economy in Northeastern Pennsylvania, with a total GDP of $20B+ ▪ Population change for the county from 2020 to 2026 of 2.26% has outpaced the state average of 1.48% ▪ The county’s economy is anchore
Slide 11: Monroe County market overview
35-31-32 1-86-151 Secondary Primary Font Color 0-0-0 195-178-103 ▪ Monroe County’s GDP has grown ~15% from 2022-2024, rising from ~$8.3B to ~$9.6B reflecting the steady economic expansion in the region ▪ Healthcare & social assistance, retail trade, and manufacturing are the county's three largest e
Slide 12: II. Management Team Overview
35-31-32 1-86-151 Secondary Primary Font Color 0-0-0 195-178-103 II. Management Team Overview 12
Slide 13: Experienced Management Team
35-31-32 1-86-151 Secondary Primary Font Color 0-0-0 195-178-103 Experienced Management Team Source: Company documents 13 Jack serves as the President and Chief Executive Officer and sits on the Board of Directors of the Corporation and the Bank. He previously served as Chief Operating Officer of th
Slide 14: III. Capital Highlights
35-31-32 1-86-151 Secondary Primary Font Color 0-0-0 195-178-103 III. Capital Highlights 14
Slide 15: Bank-level Capital Ratios
35-31-32 1-86-151 Secondary Primary Font Color 0-0-0 195-178-103 0. % 0. % 0.2 % 9.6 2% 9.6 9% 6. % .6 % .6 9% 6. 2% 6.2 % 0.0 0% .0 0% .0 0% 2.0 0% 6.0 0% 2 0.0 0% 0.0 0% .0 0% .0 0% 2.0 0% 6.0 0% 2 0.0 0% 2022 202 202 202 2026Q2 Bank-level Capital Ratios Source: S&P Capital IQ Pro Note: Bank-level
Slide 16: Capital Structure | Regulatory Capital Ratios
35-31-32 1-86-151 Secondary Primary Font Color 0-0-0 195-178-103 $134,852 $30,000 $8,864 CET1 Capital Existing Sub Debt New Sub Debt AACL $135,452 $25,000 $8,864 06/30/26 – Pro Forma ($000s) 06/30/26 – Actual ($000s) Capital Structure | Regulatory Capital Ratios Source: S&P Capital IQ Pro, Company d
Slide 17: Strong Debt Service Coverage & Low Leverage
35-31-32 1-86-151 Secondary Primary Font Color 0-0-0 195-178-103 Strong Debt Service Coverage & Low Leverage Source: S&P Capital IQ Pro, Company documents Note: Debt Service Coverage Ratio is a non-GAAP financial measure and assumes no leveraging of the capital 17 ($000s) Actual Pro Forma Interest C
Slide 18: IV. Assets Highlights
35-31-32 1-86-151 Secondary Primary Font Color 0-0-0 195-178-103 IV. Assets Highlights 18
Slide 19: Tactical Balance Sheet Growth
35-31-32 1-86-151 Secondary Primary Font Color 0-0-0 195-178-103 $ 20 $ 22 $ 07 $ $ $ 0 $60 $90 $ 20 $ 0 2022 202 202 202 2026Q2 $99 $9 0 $ ,0 6 $ , 7 $ , 0 $2 0 $ 00 $7 0 $ ,000 $ ,2 0 2022 202 202 202 2026Q2 $850 $904 $941 $939 $942 – $250 $500 $750 $1,000 $1,250 2022Y 2023Y 2024Y 2025Y 2026Q2 $ ,
Slide 20: Loan Portfolio Diversification & Growth
35-31-32 1-86-151 Secondary Primary Font Color 0-0-0 195-178-103 $850 $904 $941 $939 $942 $- $250 $500 $750 $1,000 $1,250 2022Y 2023Y 2024Y 2025Y 2026Q2 Loan Portfolio Diversification & Growth Source: S&P Capital IQ Pro Note: Bank-level financial data shown for the quarter ended June 30, 2026 (1) Co
Slide 21: Historical Bank Loan Composition & Yields
35-31-32 1-86-151 Secondary Primary Font Color 0-0-0 195-178-103 Historical Bank Loan Composition & Yields Source: S&P Capital IQ Pro Note: Bank-level financial data shown for the years ended December 31, and for the quarter ended June 30, 2026 First Keystone Community Bank Loan Composition Since 20
Slide 22: Asset Quality & Reserve Coverage Ratios
35-31-32 1-86-151 Secondary Primary Font Color 0-0-0 195-178-103 Asset Quality & Reserve Coverage Ratios Source: S&P Capital IQ Pro Note: Consolidated (GAAP) financial data shown for the years ended December 31, and for the quarter ended June 30, 2026 22 0.02% 0.00% 0. 0% 0. % 0.02% 0.20% 0.00% 0.20
Slide 23: Investment Portfolio Composition & Performance
35-31-32 1-86-151 Secondary Primary Font Color 0-0-0 195-178-103 Investment Portfolio Composition & Performance ▪ As of June 30, 2026, the Bank has ~$369 million available for sale debt securities – This represents ~23.5% of total assets ▪ The securities portfolio consists primarily of RMBS, State &
Slide 24: V. Liabilities Highlights
35-31-32 1-86-151 Secondary Primary Font Color 0-0-0 195-178-103 V. Liabilities Highlights 24
Slide 25: Deposit Composition
35-31-32 1-86-151 Secondary Primary Font Color 0-0-0 195-178-103 Deposit Composition Source: S&P Capital IQ Pro, Company documents Note: Bank-level financial data shown for the years ended December 31, and for the quarter ended June 30, 2026 (1) Core deposits defined as total deposits minus total br
Slide 26: VI. Income Statement Highlights
35-31-32 1-86-151 Secondary Primary Font Color 0-0-0 195-178-103 VI. Income Statement Highlights 26
Slide 27: Core Net Revenue Detail
35-31-32 1-86-151 Secondary Primary Font Color 0-0-0 195-178-103 $43,677 $35,390 $38,871 $44,495 $48,348 $26,777 $29,294 $31,515 $33,613 $33,968 $6,177 $6,274 $6,592 $6,844 $7,084 $- $5,000 $10,000 $15,000 $20,000 $25,000 $30,000 $35,000 $40,000 $45,000 $50,000 2022Y 2023Y 2024Y 2025Y 2026Q2 Net Int
Slide 28: Net Interest Income & Net Interest Margin
35-31-32 1-86-151 Secondary Primary Font Color 0-0-0 195-178-103 Net Interest Income & Net Interest Margin Source: S&P Capital IQ Pro Note: Consolidated (GAAP) financial data, unless otherwise noted, shown for the years ended December 31, and for the quarter ended June 30, 2026 (1) 2026Q2 annualized
Slide 29: Adj. ROATCE & Adj. ROAA
35-31-32 1-86-151 Secondary Primary Font Color 0-0-0 195-178-103 Adj. ROATCE(1) & Adj. ROAA(2) Source: S&P Capital IQ Pro Note: Consolidated (GAAP) financial data shown for the years ended December 31, and for the quarter ended June 30, 2026 (1) Adj. ROATCE is a non-GAAP financial measure; please se
Slide 30: Efficiency Ratio & Adj. Noninterest Expense / Avg. Assets
35-31-32 1-86-151 Secondary Primary Font Color 0-0-0 195-178-103 Efficiency Ratio & Adj. Noninterest Expense / Avg. Assets(1) Source: S&P Capital IQ Pro Note: Consolidated (GAAP) financial data shown for the years ended December 31, and for the quarter ended June 30, 2026 (1) Adj. Noninterest Expens
Slide 31: VII. Appendix
35-31-32 1-86-151 Secondary Primary Font Color 0-0-0 195-178-103 VII. Appendix 31
Slide 32: Financial Highlights
35-31-32 1-86-151 Secondary Primary Font Color 0-0-0 195-178-103 Financial Highlights Source: S&P Capital IQ Pro Note: Consolidated financial data shown; operating revenue defined as net interest income plus noninterest income (1) Non-GAAP financial measure; please see appendix pages for a reconcili
Slide 33: Historical Consolidated Balance Sheet
35-31-32 1-86-151 Secondary Primary Font Color 0-0-0 195-178-103 Historical Consolidated Balance Sheet Source: Audited financial statements provided by the Company Note: Consolidated financial data shown; Unaudited financial data shown for the quarter ended June 30, 2026 33 For the Year Ended Decemb
Slide 34: Historical Consolidated Income Statement
35-31-32 1-86-151 Secondary Primary Font Color 0-0-0 195-178-103 Historical Consolidated Income Statement 34 For the Year Ended December 31, For the Six Months Ended June 30, ($000s) 2022 2023 2024 2025 2026 INTEREST INCOME & EXPENSE Interest and fees on loans $35,372 $42,747 $51,187 $57,289 $28,484
Slide 35: Non-GAAP Reconciliation | Consolidated TCE / TA
35-31-32 1-86-151 Secondary Primary Font Color 0-0-0 195-178-103 Non-GAAP Reconciliation | Consolidated TCE / TA Source: S&P Capital IQ Pro Note: Consolidated financial data 35 ($000s) Non-GAAP Reconciliation | TCE / TA 2022Y 2023Y 2024Y 2025Y 2025Q3 2025Q4 2026Q1 2026Q2 Common Equity $120,386 $121,
Slide 36: Non-GAAP Reconciliation | Core Net Revenue
35-31-32 1-86-151 Secondary Primary Font Color 0-0-0 195-178-103 Non-GAAP Reconciliation | Core Net Revenue Source: S&P Capital IQ Pro Note: Consolidated financial data shown for the years ended December 31, and for the quarter ended June 30, 2026 36 Non-GAAP Reconciliation | Core Net Revenue 2022Y
Slide 37: Non-GAAP Reconciliation | Adj. ROATCE
35-31-32 1-86-151 Secondary Primary Font Color 0-0-0 195-178-103 Non-GAAP Reconciliation | Adj. ROATCE 2022Y 2023Y 2024Y 2025Y 2026Q2 Net Income [A] $14,024 $5,560 ($13,203) $6,152 $3,777 Goodwill Impairment (A/T) [B] – – $18,875 – – Intangibles Amortization (A/T) [C] – – – – – Adj. Net Income Adj.
Slide 38: Non-GAAP Reconciliation | Adj. ROAA
35-31-32 1-86-151 Secondary Primary Font Color 0-0-0 195-178-103 Non-GAAP Reconciliation | Adj. ROAA 2022Y 2023Y 2024Y 2025Y 2026Q2 Net Income [A] $14,024 $5,560 ($13,203) $6,152 $3,777 Goodwill Impairment (A/T) [B] – – $18,875 – – Adj. Net Income [C] = [A] + [B] $14,024 $5,560 $5,672 $6,152 $3,777
Slide 39: Non-GAAP Reconciliation | Core Deposits
35-31-32 1-86-151 Secondary Primary Font Color 0-0-0 195-178-103 Non-GAAP Reconciliation | Core Deposits Source: S&P Capital IQ Pro Note: Bank-level financial data shown for the years ended December 31, and for the quarter ended June 30, 2026; Core deposits shown as defined by S&P Capital IQ Pro 39
Slide 40: Non-GAAP Reconciliation | Adj. Noninterest Expense / AA
35-31-32 1-86-151 Secondary Primary Font Color 0-0-0 195-178-103 Non-GAAP Reconciliation | Adj. Noninterest Expense / AA Source: S&P Capital IQ Pro Note: Consolidated financial data shown for the years ended December 31, and for the quarter ended June 30, 2026; Goodwill Impairment in 2024Y was the r
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