Ameriserv Finl Stock Price, News & Analysis

AmeriServ Financial Bank and United Steelworkers Local 2635-06 have ratified a new four-year contract, effective until October 15, 2025. Key terms include 2% annual wage increases, unchanged healthcare coverage, and signing bonuses of $300 for full-time and $150 for part-time employees. A new retail sales and service associate position aims to enhance customer service and compensation opportunities. At September 30, 2021, AmeriServ reported total assets of $1.34 billion and a book value of $6.66 per share, reinforcing the bank's commitment to growth and community service.

AmeriServ Financial, Inc. (NASDAQ: ASRV) has declared a $0.025 per share cash dividend, payable on November 22, 2021, to shareholders recorded by November 8, 2021. This dividend yields an annualized rate of 2.55% based on the closing price of $3.92 on October 21, 2021. The dividend payout ratio for the first nine months of 2021 was 24.2%. As of September 30, 2021, the company reported total assets amounting to $1.34 billion and a book value of $6.66 per share.

AmeriServ Financial, Inc. (ASRV) reported a third-quarter 2021 net income of $1.43 million, or $0.08 per diluted share, reflecting a 32.7% increase from $1.08 million in Q3 2020. For the first nine months, net income reached $5.22 million, or $0.31 per diluted share, a 34.8% increase year-over-year. The company completed a $27 million subordinated debt placement, leading to potential cost savings. The loan portfolio grew by $22 million during Q3, driven by commercial real estate and residential mortgages. The net interest income rose by 4.9% compared to Q3 2020, but the net interest margin took a slight dip to 2.85%. Overall, the firm maintains a solid financial position with strong capital ratios.

AmeriServ Financial (NASDAQ: ASRV) reported a second quarter 2021 net income of $1.7 million, or $0.10 per diluted share, reflecting a 20.4% year-over-year increase. For the six months ended June 30, 2021, net income rose by 29.4% to $3.79 million, or $0.22 per share. Significant growth in non-interest income contributed to this performance, with total deposits hitting a new record due to a successful Somerset County branch acquisition. Despite a challenging low interest rate environment, the net interest income increased by 4.2% from the prior year, and loan production remained strong at $57.7 million in residential mortgages for the first half of 2021.

AmeriServ Financial (NASDAQ: ASRV) has successfully completed its acquisition of Citizens Neighborhood Bank's branch and deposit customers in Meyersdale and Somerset, Pennsylvania, with a deposit premium of 3.71%. The acquisition involves approximately $43.7 million in deposits, enhancing AmeriServ's market position to become the fourth largest in Somerset County, boasting $150 million in total deposits across four branches. This strategic move is aimed at strengthening AmeriServ's community presence and service offerings.

AmeriServ Financial, Inc. (NASDAQ: ASRV) is holding its 2021 Annual Meeting of Shareholders today in a virtual format due to COVID-19. Shareholders can attend online, vote their shares, and submit questions. The meeting starts at 1:30 p.m. ET on April 27, 2021, and those eligible were shareholders as of February 12, 2021. Key agenda items include the election of Class II Directors, approval of the 2021 Equity Incentive Plan, and a financial review. As of March 31, 2021, AmeriServ reported total assets of $1.3 billion and a book value of $6.17 per share.

AmeriServ Financial, Inc. (NASDAQ: ASRV) has announced its 2021 Annual Meeting of Shareholders will take place virtually on April 27, 2021, at 1:30 p.m. ET. The decision for a virtual meeting follows the ongoing COVID-19 pandemic to ensure safety for all stakeholders. Shareholders of record as of February 12, 2021, can participate and vote electronically through the virtual platform. The meeting aims to provide an interactive experience for shareholders despite the inability to attend in person.

AmeriServ Financial reported a net income of $2,081,000 ($0.12 per diluted share) for Q1 2021, marking a 47.7% increase from Q1 2020. The growth is attributed to a 10.8% rise in net interest income, driven by record levels of loans and deposits amid a recovering economy. Non-interest income also increased by 20.4%, with wealth management fees rising 12.5%. The company declared a quarterly dividend of $0.025 per share, yielding 2.5%. As of March 31, 2021, total assets reached $1.3 billion.

AmeriServ Financial, Inc. (NASDAQ: ASRV) announced its 2021 Annual Meeting of Shareholders will be held virtually on April 27, 2021, at 1:30 p.m. ET, due to health concerns from the COVID-19 pandemic. Shareholders can attend online, vote electronically, and submit questions via the virtual platform. To participate, shareholders must have been on record as of February 12, 2021. The meeting link is here. As of December 31, 2020, the company reported total assets of $1.28 billion and a book value of $6.12 per share.