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STOCKHOLDERS' EQUITY
12 Months Ended
Dec. 31, 2013
STOCKHOLDERS' EQUITY [Abstract]  
STOCKHOLDERS' EQUITY

NOTE 18 - STOCKHOLDERS' EQUITY

 

The Corporation also offers to its shareholders a Dividend Reinvestment and Stock Purchase Plan. The Corporation is authorized to issue up to 200,000 shares of its common stock under the plan. The plan provides First Keystone shareholders a convenient and economical way to purchase additional shares of common stock by reinvesting dividends. A plan participant can elect full dividend reinvestment or partial dividend reinvestment provided at least 25 shares are enrolled in the plan. In addition, plan participants may make additional voluntary cash purchases of common stock under the plan of not less than $100 per calendar quarter or more than $2,500 in any calendar quarter.

 

Shares of First Keystone common stock are purchased for the plan either in the open market by an independent broker on behalf of the plan, directly from First Keystone as original issue shares, or through negotiated transactions. A combination of the previous methods could also occur.

 

Participation in this plan by shareholders began in 2001. Shares transferred under this Dividend Reinvestment and Stock Purchase Plan were as follows:

 

Year   Number of Shares  
2001     3,260  
2002     7,747  
2003     8,000  
2004     13,932  
2005     21,491  
2006     22,964  
2007     25,900  
2008     34,389  
2009     39,772  
2010     41,227  
2011     42,277  
2012     39,245  
2013     39,328