First Keystone Corporation reported non-cash goodwill impairment for the first quarter ended March 31, 2024. The corporation will record a first quarter non-cash goodwill impairment charge of approximately $19,133,000. The goodwill is related to the acquisition of the Pocono Community Bank in November 2007 and of certain fixed and operating assets acquired and deposit liabilities assumed of the branch of another financial institution in Danville, Pennsylvania, in January 2004.

The goodwill impairment has no impact on regulatory capital ratios, liquidity and the Corporation's cash balances.