First Keystone Corp. · OTC:FKYS
First Keystone — Shareholder Meeting (May 2025)
31 slides from First Keystone's shareholder meeting presentation, May 13, 2025
Slide 1: Annual Shareholders' Meeting May 8, 2025
Annual Shareholders’ Meeting May 8, 2025
Slide 2: Annual Meeting of Shareholders Agenda
ANNUAL MEETING OF SHAREHOLDERS I. Introduction – Robert A. Bull, Chairman II. Call to Order III. Welcome IV. Ascertain Presence of a Quorum – David R. Saracino, Secretary V. Proposal No. 1 – Election of Directors VI. Proposal No. 2 – Ratification of Independent Auditors VII. Management Presentations
Slide 3: First Keystone Corporation Board of Directors
First Keystone Corporation Board of Directors ROBERT A. BULL CHAIRMAN JOHN E. ARNDT VICE CHAIRMAN D. MATTHEW BOWER WHITNEY B. HOLLOWAY JACK W. JONES MICHAEL L. JEZEWSKI NANCY J. MARR WILLIAM E. RINEHART DAVID R. SARACINO ELAINE A. WOODLAND
Slide 4: First Keystone Corporation Director Emeriti
First Keystone Corporation Director Emeriti DR. JOSEPH B. JEROME F. FABIAN CONAHAN, JR JOHN G. GERLACH
Slide 5: Robert A Bull, Chairman of the Board
Robert A Bull Chairman of the Board This presentation contains certain forward-looking statements, which are included pursuant to the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995, and reflect management’s beliefs and expectations based on information currently ava
Slide 6: Stacy Gordner, Interim Chief Financial Officer
Stacy Gordner Assistant Vice President, Interim Chief Financial Officer This presentation contains certain forward-looking statements, which are included pursuant to the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995, and reflect management’s beliefs and expectation
Slide 7: Financial Highlights
FINANCIAL HIGHLIGHTS (Dollars in thousands, except per share data) 2024 2023 2022 2021 2020 SUMMARY OF OPERATIONS. Interest income $71,422 $56,988 $46,413 $42,048 $ 39,567 Interest expense 39,143 27,872 8,913 5,148 6,360 Net interest income 32,279 29,116 37,500 36,900 33,207 (Credit) provision for l
Slide 8: Loans
LOANS 2023 2024 # OF NEW LOANS TOTAL NEW LOANS Si55,435) ©) 2024 LOAN PORTFOLIO BREAKDOWN 83% 13% HE COMMERCIAL HOME EQUITY lM MORTGAGES CONSUMER & OTHER
Slide 9: Deposits
DEPOSITS 2023 2024 # OF NEW CORE DEPOSITS 5756 ) & TOTAL NEW CORE DEPOSITS $65,005 360,731) 2024 DEPOSIT BREAKDOWN 65% 35% Mi CORE DEPOSITS M@ TIME DEPOSITS (CHECKING, SAVINGS (CERTIFICATES & MONEY MARKETS) OF DEPOSIT)
Slide 10: How We Generated Income in 2024 vs 2023
How We Generated Income in 2024 vs 2023: ™@ 2024 $78,119 @ 2023 $63,144 919202) 99% $14,202 9% BAS 10% $6,195 Other Income Interest and Fees Dividends on Interest and Securities and Stock on Loans INCOME STATEMENT IN GRAPHIC FORM MAJOR COMPONENTS OF OTHER INCOME 2023 2024 ATM FEES & DEBIT CARD INCOM
Slide 11: How We Used Our Income in 2024 vs 2023
How We Used Our Income in 2024 vs 2023: lm 2024 37% $78,119 $29,011 @ 2023 $63,144 27% $17,108 18% si5867, 17% $10,764 7% 2% Gop) $4527 % $1640 Q% $4,345 0% _sse4 (17%) $217) $(45) (13,203) Provision/ Computers, Income 6 bioeieas Borrowing Credit for Employees Buildings Cone, Tax Profit Loan Losses
Slide 12: Average Loan and Investment Balances
$200,000 $300,000 $400,000 $500,000 $600,000 $700,000 $800,000 $900,000 2020 2021 2022 2023 2024 $684,132 $736,839 $807,169 $873,677 $921,848 $312,537 $413,805 $419,164 $358,243 $417,080 Loans Investments Average Loan and Investment Balances (amounts in thousands)
Slide 13: Loan and Investment Yields
2.50% 3.00% 3.50% 4.00% 4.50% 5.00% 2020 2021 2022 2023 2024 4.63% 4.49% 4.41% 4.90% 5.55% 3.05% 2.61% 3.02% 4.02% 4.75% Loan Yields Investment Yields Loan and Investment Yields (tax equivalent)
Slide 14: Average Interest-Bearing Deposits and Borrowings
$- $100,000 $200,000 $300,000 $400,000 $500,000 $600,000 $700,000 $800,000 2020 2021 2022 2023 2024 $658,889 $807,970 $794,742 $746,747 $800,476 $95,791 $89,918 $141,450 $230,991 $300,020 Average Interest Bearing Deposits Average Borrowings Average Interest-Bearing Deposits and Borrowings (amounts i
Slide 15: Deposit and Borrowing Costs
0.00% 1.00% 2.00% 3.00% 4.00% 5.00% 2020 2021 2022 2023 2024 0.75% 0.39% 0.66% 2.29% 3.16% 1.48% 2.23% 2.58% 4.66% 4.62% Deposits Borrowings Liability Costs | Deposit and Borrowing Costs
Slide 16: Net Interest Spread and Net Interest Margin
1.00% 1.50% 2.00% 2.50% 3.00% 3.50% 2020 2021 2022 2023 2024 3.25% 3.08% 2.96% 1.79% 1.74% 3.46% 3.22% 3.19% 2.38% 2.40% Net Interest Spread Net Interest Margin Net Interest Spread and Net Interest Margin (tax equivalent)
Slide 17: Net Income After Taxes, Tax Expense & Net Securities Gains/(Losses)
$(15,000) $(10,000) $(5,000) $- $5,000 $10,000 $15,000 2020 2021 2022 2023 2024 $11,837 $14,688 $14,024 $5,560 $(13,203) $1,577 $2,321 $2,294 $(58) $684 $(45) $323 $(846) $(118) $105 Net Income After Taxes Tax Expense Net Securities Gain/Loss Net Income After Taxes, Tax Expense & Net Securities Gain
Slide 18: FKC's Franchise Value
FKC’s Franchise Value ➢ History of solid investor returns ➢ Dividend Yield of 8.29% at 12/31/2024 ➢ Historically strong capital position ➢ Investor-focused dividend policy ➢ Consistent financial performance ➢ Community focused banking strategies ➢ Economic diversity – servicing four distinct markets
Slide 19: Jack Jones, President and CEO
Jack Jones This presentation contains certain forward-looking statements, which are included pursuant to the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995, and reflect management’s beliefs and expectations based on information currently available. These forward-loo
Slide 20: Introduction
Introduction ➢Joined First Keystone Community Bank in January ➢ February 1, became President and CEO after the retirement of Elaine ➢ Thank You Elaine for your 32 years of service to this bank, and I look forward to working with you as a Board Member ➢ Penns Woods Bancorp (PWOD) parent company for J
Slide 21: Future of First Keystone Community Bank
Future of First Keystone Community Bank ➢To remain an independent community bank ➢Grow the bank in a safe, sound and profitable manner ➢To continue to enhance our franchise and shareholder value ➢ Offer competitive deposit and loan rates ➢ Monitor margins ➢ Grow loan portfolio ➢ Increase Core Deposi
Slide 22: Future of First Keystone Community Bank: Retail Banking and Mortgage Lending
Future of First Keystone Community Bank ➢ Refocus on Retail Banking and Mortgage Lending ➢ Supply Retail staff with the tools necessary to succeed ➢ Enhanced deployment of marketing strategies ➢ Direct mail postcards ➢ Billboards in strategic locations ➢ Market outside the branches to non-customers
Slide 23: Future of First Keystone Community Bank: Enhanced Products
Future of First Keystone Community Bank ➢Enhanced products ➢ New Online checking/savings account opening ➢ Launched 1st quarter 2025 ➢ New Website (internally designed) ➢ Contactless debit cards ➢ Positive Payee (Fraud Prevention) ➢ New Retail Loan system for branch managers and retail lenders ➢ 4 t
Slide 24: Future of First Keystone Community Bank
Future of First Keystone Community Bank ➢FKCB will continue to build on it’s legacy of a trusted community bank ➢We will stay true to our core values ➢ Expand offerings to attract a diverse customer base ➢ Remain a leader in customer service, while continuing to grow our presence in the community an
Slide 25: Future of First Keystone Community Bank
Future of First Keystone Community Bank ➢ Our Success will evolve because of the core values instilled in our employees and board members ➢ Profitability and growth are primary and competing goals. Encouraging efficiencies throughout the Bank, although needed can sometimes be challenging for employe
Slide 26: Commitment to Community
Commitment to Community ➢ FKCB provided Sponsorships and Donations to various schools and non-profit agencies throughout our communities. ➢ Examples include various fundraising walks and events, arts and food festivals, YMCAs, little leagues and school sports teams, holiday events, economic groups,
Slide 27: Commitment to Community
Commitment to Community ➢ We are passionate about giving generously to the communities we serve, in both corporate and individual employee donations. ➢ Throughout the year, our employees donated $9,838 of their own money during Denim Days, supporting various non-profit agencies throughout our market
Slide 28: Keys to our Success are expressed in our Mission Statement
Keys to our Success are expressed in our Mission Statement First Keystone Corporation and First Keystone Community Bank will be the independent financial services provider of choice to its customers and communities that it serves by providing quality, cost effective, customer focused financial servi
Slide 29: Commitment to You
Commitment to You ➢ For over 160 years, we have been committed to listening to our customers and Shareholders ➢ That commitment remains true today, and will remain into the future ➢ We remain well-capitalized and compare favorably to all regulatory ratios. ➢ We are now looked at as financial advisor
Slide 30: Commitment to You
Commitment to You The Board of Directors, management and the entire staff are firmly focused on increasing value for our customers, our communities and our shareholders. Thank you for your confidence and continued support!
Slide 31: Thank you for attending our May 8, 2025 Annual Shareholders' Meeting!
Thank you for attending our May 8, 2025 Annual Shareholders’ Meeting!