diff --git a/hgext/keyword.py b/hgext/keyword.py
--- a/hgext/keyword.py
+++ b/hgext/keyword.py
@@ -177,6 +177,8 @@ class kwtemplater(object):
         candidates = [f for f in files if self.iskwfile(f, ctx.flags)]
         if candidates:
             self.restrict = True # do not expand when reading
+            msg = (expand and _('overwriting %s expanding keywords\n')
+                   or _('overwriting %s shrinking keywords\n'))
             for f in candidates:
                 fp = self.repo.file(f)
                 data = fp.read(mf[f])
@@ -190,10 +192,6 @@ class kwtemplater(object):
                 else:
                     found = self.re_kw.search(data)
                 if found:
-                    if expand:
-                        msg = _('overwriting %s expanding keywords\n')
-                    else:
-                        msg = _('overwriting %s shrinking keywords\n')
                     notify(msg % f)
                     self.repo.wwrite(f, data, mf.flags(f))
                     self.repo.dirstate.normal(f)