First Keystone Corporation (OTC: Pink:FKYS), a Pennsylvania-based commercial bank, announced a change in its executive ranks with the upcoming retirement of its Chief Financial Officer, Diane C.A. Rosler. The transition, detailed in a recent SEC filing, will see Stacy Gordner step into the interim CFO role beginning January 1, 2025.
Diane Rosler, who has been serving as CFO of both First Keystone Corporation and its wholly-owned subsidiary First Keystone Community Bank, informed the Board of her decision to retire effective December 31, 2024. Rosler's departure comes after a tenure that saw her play a key role in the financial management of the corporation.
Stacy Gordner, 34, will assume the interim CFO position after having joined the bank as the Controller on September 15, 2024. Gordner's rapid ascent within the company began with her role as Accounting Reporting Analyst, followed by a promotion to Accounting Manager on August 14, 2022, before reaching her current position.
As interim CFO, Gordner will receive an annual salary of $145,000 along with other benefits that are part of the senior executive compensation package. The announcement comes as part of a Current Report on Form 8-K filed by the company, pursuant to the Securities Exchange Act of 1934.
InvestingPro Insights
As First Keystone Corporation (OTC: Pink:FKYS) prepares for this significant leadership transition, InvestingPro data offers additional context for investors. The company's market capitalization stands at $94.4 million, reflecting its position in the regional banking sector.
One of the most notable InvestingPro Tips highlights that First Keystone "has maintained dividend payments for 29 consecutive years," demonstrating a long-standing commitment to shareholder returns. This is further supported by the current dividend yield of 7.11%, which may be particularly attractive to income-focused investors in the context of the upcoming executive changes.
The company's financial performance shows mixed signals. While the revenue for the last twelve months as of Q3 2024 was $35.85 million, there was a slight revenue decline of 3.62% over the same period. However, the operating income margin stands at a healthy 17.55%, indicating efficient operational management despite challenges.
InvestingPro Tips also point out that First Keystone has shown "strong returns over the last month and three months," with price total returns of 31.36% and 34.26% respectively. This recent market performance could suggest investor confidence in the company's direction, including the upcoming leadership transition.
For those interested in a deeper analysis, InvestingPro offers 7 additional tips for First Keystone Corporation, providing a more comprehensive view of the company's financial health and market position.
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