First Keystone Financial, Inc. (NASDAQ:FKFS) has released the fourth quarter and year end earnings for the period ended September 30, 2009. The company reported a net loss of $359,000, or 4015 per diluted share, versus the recorded loss of $1.7 million, or $0.73 per diluted share for the same period during the previous year. The net loss is attributable to the $1.5 million loan loss provision during the quarter.
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The company reported a net loss of $1.6 million, or $0.68 per diluted share, versus a net loss of $1.0 million, or $0.43 per diluted share for fiscal 2008. The fiscal 2009 net loss is the result of a $3.0 million loan loss. A full copy of the financial results may be found online at http://www.sec.gov/.
First Keystone Financial, Inc. is the holding company of First Keystone Bank, a federally chartered stock savings bank (the Bank). The Bank’s primary business is attracting deposits from the general public and using those funds together with other available sources of funds, primarily borrowings, to originate loans. The Bank’s primary market area is Delaware and Chester counties. The Bank maintains seven branch offices in Delaware County with deposits totaling $326.2 million at June 30, 2008, and one branch office in Chester County with deposits totaling $20.1 million at June 30, 2008. First Keystone Financial, Inc.’s subsidiaries include FKF Management Corp., Inc. and State Street Services Corp.
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