First Keystone Corporation (OTC BB:FKYS), parent company of First Keystone National Bank, reported net income of $2,086,000 for the quarter ending September 30, 2009, as compared to $2,227,000 for the third quarter of 2008. Earnings per share for the quarter ending September 30, 2009 were $.39, as compared to $.41 per share earned in the third quarter of 2008. For the nine months ending September 30, 2009, net income was $6,351,000 as compared to $5,835,000 for the first nine months of 2008, an increase of 8.8%. Earnings per share were $1.17 for the first nine months of 2009, up 9.4% from the $1.07 reported in the first nine months of 2008. The annualized return on assets and return on equity were 1.15% and 11.97%, respectively for the nine months ending September 30, 2009.

Total assets increased to $757,515,000 as of September 30, 2009, an increase of 7.3% over the same period in 2008. Total deposits and loans increased to $576,414,000 and $407,953,000, respectively as of the end of the third quarter of 2009. In addition, cash dividends paid as of September 30, 2009 were $.69 per share as compared to $.66 in the first three quarters of 2008, an increase of 4.6%.

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