ASRV

Shares of AmeriServ Financial, Inc. ASRV have gained 12.1% since the company reported its earnings for the quarter ended June 30, 2026. This compares with the S&P 500 index’s 1.1% decline over the same period. Over the past month, however, the stock has fallen 12.4%, underperforming the S&P 500, which has also declined 1.1%. AmeriServ reported second-quarter 2026 net income of 16 cents per share against a net loss of 2 cents per share in the year-ago quarter. The company attributed the turnaround to stronger revenue generation and improved credit quality. Net interest income increased 9.1% year over year to reflect higher earning asset yields, lower funding costs and disciplined balance sheet management. Non-interest income rose 11.5%, supported by higher wealth management fees and bank-owned life insurance (BOLI) revenues, while a recovery in credit loss provisions further lifted earnings. AmeriServ reported net income of $2.7 million against a net loss of $0.3 million in the year-ago quarter. AmeriServ Financial, Inc. price-consensus-eps-surprise-chart | AmeriServ Financial, Inc. Quote AmeriServ continued to benefit from a more favorable interest-rate environment and deposit pricing discipline. Net interest margin expanded 24 basis points year over year to 3.34% in the second quarter. Average total deposits rose 2.4% to $1.3 billion, reflecting customer growth, whereas average loans declined 4.4% to $1 billion due to elevated commercial real estate loan payoffs exceeding new originations. Asset quality also strengthened. The company recorded a $0.3 million recovery in the provision for credit losses compared with a $3.1 million provision in the prior-year quarter. Non-performing assets declined 1.6% from Dec. 31, 2025, and non-performing loans represented 0.76% of total loans at June 30, 2026. Wealth management fees climbed 11.2% as higher equity market values lifted customer assets under management, while BOLI revenues benefited from a larger death claim received during the quarter. Wealth management assets reached a fair market value of $2.8 billion at June 30, 2026, up 2.8% from year-end 2025. These gains were partially offset by a 9.3% increase in non-interest expense. Professional fees rose 57.6% because of expanded consulting services, while salaries and employee benefits increased 4.7% following annual wage adjustments. Additional workout expenses tied to a commercial real estate loan relationship also contributed to higher operating costs. President and chief executive officer Jeffrey A. Stopko said that the company delivered record quarterly earnings through revenue growth and favorable asset quality trends. Management highlighted effective balance sheet management, noting that net interest income now accounts for roughly 72% of total revenue. The company also cited improved wealth management fees, strong liquidity and solid capital levels as positioning it for organic growth during the second half of 2026. Management said it intends to remain focused on expanding revenue while controlling expenses to improve operating efficiency. Management expects net interest margin to continue improving through the second half of 2026, supported by the current interest-rate environment, effective pricing strategies and a favorable funding mix. The company also emphasized that its loan-to-deposit ratio of 80.5% provides ample capacity to support future loan growth while maintaining a strong liquidity position. AmeriServ added that both the company and its banking subsidiary remain well above regulatory well-capitalized requirements. AmeriServ’s board declared a quarterly common stock cash dividend of 3 cents per share, payable on Aug. 17, 2026, to shareholders of record on Aug. 3, 2026. The dividend represents an annualized yield of 3.1% based on the July 17, 2026 closing stock price and a 22.2% payout ratio based on year-to-date 2026 earnings. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report AmeriServ Financial Inc. (ASRV): Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

JOHNSTOWN, Pa., July 21, 2026 /PRNewswire/ -- AmeriServ Financial, Inc. (NASDAQ: ASRV) reported second quarter 2026 net income of $2,738,000, or $0.16 per diluted common share. This compares to a net loss for the second quarter of 2025 of $282,000, or $0.02 per diluted common share. For the six-month period ended June 30, 2026, the Company reported net income of $4,532,000, or $0.27 per diluted common share. This represented a 170.0% increase in earnings per share from the six-month period of 2025 when net income totaled $1,626,000, or $0.10 per diluted common share. The following table details the Company's financial performance for the three- and six-month periods ended June 30, 2026 and 2025: Jeffrey A. Stopko, President and Chief Executive Officer, commented on the second quarter 2026 financial results: "AmeriServ Financial achieved record quarterly earnings in the second quarter of 2026 due to growth in total revenue and favorable asset quality trends. The increase in total revenue was caused by meaningful improvement in our net interest income for both the second quarter and first six months of 2026 because of effective balance sheet management. Specifically, our net interest margin increased by 24-basis points in the first six months of 2026 leading to a $1.8 million increase in net interest income, which is important since it represents approximately 72% of our total revenue. Improved wealth management fees also contributed to growth in non-interest revenue. Our Company is well positioned for organic growth in the second half of 2026 as we have strong liquidity and solid capital. We will continue to diligently focus on both revenue growth and expense control to further improve the Company's operating efficiency." All second quarter and six months 2026 financial performance metrics within this document are compared to the second quarter and six months of 2025 unless otherwise noted. Net interest income in the second quarter of 2026 increased by $942,000, or 9.1%, from the prior year's second quarter and, for the first six months of 2026, increased by $1.8 million, or 9.0%, when compared to the first six months of 2025. The Company's net interest margin of 3.34% for the second quarter of 2026 and 3.30% for the six months of 2026 represents a 24-basis point improvement for both the quarter and six-month periods. Along with the sharply improved net interest margin performance, the increase also reflects controlled balance sheet growth, as both total earning assets and total deposits are at higher average levels due to effective balance sheet management. This, combined with effective pricing strategies, resulted in both the total earning asset yield and cost of interest-bearing funds improving between years. The Federal Reserve's action to lower short-term interest rates during the latter portion of 2025 favorably impacted total interest-bearing deposits and borrowings costs. Also, the U.S. Treasury yield curve demonstrating a more traditional steeper upward slope favorably impacted earning asset yields. Management believes the net interest margin will continue to improve through the second half of 2026. Earnings performance in 2026 was also favorably impacted by a lower provision for credit losses reflecting improvement in the bank's asset quality. An increase in non-interest expense for both 2026 time periods was partially offset by improved non-interest income for the same time frames. Overall, the improvement in the Company's financial performance was caused by increased total revenue and a lower provision for credit losses which more than offset higher non-interest expense resulting in earnings through six months of 2026 exceeding earnings through six months of 2025 by $2.9 million, or 179%. Total investment securities averaged $295.2 million for the second quarter of 2026, which was $38.7 million, or 15.1%, higher than the $256.4 million average for the second quarter of 2025. Additionally, overnight short-term investments were higher by $21.1 million in the second quarter of 2026. Similar trends were noted for the six-month period. These increases reflect a higher level of loan prepayment activity as well as our liquidity position strengthening in the fourth quarter of 2025 and throughout the first half of 2026 due to deposit growth. Therefore, more funds were available to invest in the securities portfolio during a time when security yields improved, making purchases more attractive. As a result, the securities portfolio grew by $42.2 million, or 17.0%, since December 31, 2025. New investment security purchases were also necessary to replace cash flow from maturing securities to maintain appropriate balances for pledging purposes related to public fund deposits. The higher balances and improved yields for new securities purchases caused interest income from investments to increase by $741,000, or 26.9%, for the second quarter and by $1.3 million, or 25.1%, for the first six months of 2026 compared to the same time periods last year. Total average loans for the second quarter of 2026 declined from the second quarter of 2025 by $47.2 million, or 4.4%, due to increased loan payoff activity, particularly from the commercial real estate (CRE) portfolio, which exceeded loan originations. A similar trend was noted for the six-month period as total average loans dropped $42.3 million, or 4.0%. However, total loans continue to be above the $1.0 billion threshold, averaging $1.022 billion for the second quarter of 2026. Total loan interest income decreased by $331,000, or 2.2%, for the second quarter and by $433,000, or 1.5%, for the first six months of 2026 compared to the same time periods last year. This decline reflects the lower average loan balance more than offsetting the benefits of a better interest rate environment in 2026, and a portion of CRE loans, that were booked during the COVID pandemic when interest rates were low, repricing upward during the first half of 2026. Overall, through six months of 2026, the average balance of total interest earning assets increased from last year's average by $13.7 million, or 1.0%, while total interest income increased by $890,000, or 2.6%, from the first half of 2025 due to the increased revenue contribution from the investment securities portfolio. On the liability side of the balance sheet, total deposits averaged $1.27 billion for the second quarter of 2026 which was $29.8 million, or 2.4%, higher than the second quarter of 2025 average due to the Company's successful business development efforts. Additionally, the Company's core deposit base continues to demonstrate the strength and stability that it has for many years due to customer loyalty and confidence in AmeriServ Financial Bank. The Company does not utilize brokered deposits as a funding source. The loan to deposit ratio averaged 80.5% in the second quarter of 2026, which indicates that the Company has ample capacity to continue to grow its loan portfolio and is well positioned to support our customers and our community during times of economic volatility. Total interest expense decreased by $532,000, or 7.3%, for the second quarter of 2026 and decreased by $949,000, or 6.6%, for the six months when compared to both time periods of 2025. Deposit interest expense declined by $549,000, or 4.4%, through the first six months of 2026 despite total average interest-bearing deposits growing by $39.6 million, or 3.8%, compared to the first six months of last year. The decrease in deposit interest expense reflects management's effective deposit pricing strategies along with the benefit of the Federal Reserve easing monetary policy during the final four months of 2025. This reduction in interest-bearing deposit costs contributed to the previously mentioned improvement in the net interest margin. Overall, total deposit cost (including the benefit of non-interest-bearing demand deposits) averaged 1.92% for the second quarter of 2026, which is a 15-basis point improvement from the second quarter of 2025. Total borrowings interest expense decreased by $188,000, or 21.2%, for the second quarter of 2026 and declined by $400,000, or 21.6%, for the first six months when compared to both time periods of 2025. The Company's utilization of overnight borrowed funds during the first six months of 2026 was lower than it was for the first half of 2025, resulting in the average decreasing by $4.4 million, or 88.5%, due to the higher level of total average deposits. Also, management elected not to replace the majority of maturing Federal Home Loan Bank (FHLB) term advances during the full year of 2025 and did not replace any during the first half of 2026 because of the strength of the Company's liquidity position. Therefore, the total average balance of advances from the FHLB during the first half of 2026 decreased by $13.0 million, or 24.5%, from the same period of last year. The decrease in borrowings interest expense also reflects the Federal Reserve's 2025 action to ease monetary policy by 75-basis points which had an immediate and favorable impact on the cost of overnight borrowed funds. The Company recorded a $294,000 provision for credit losses recovery in the second quarter of 2026 after recording a $3.1 million provision for credit losses in the second quarter of 2025, resulting in a favorable shift of $3.4 million. For the first six months of 2026, the Company recognized a $77,000 provision for credit losses recovery after recognizing a $3.0 million provision for credit losses in the first six months of 2025, resulting in a net favorable change of $3.1 million. The large provision for credit losses in the second quarter of 2025 was needed to resolve the Company's largest non-performing loan which also included a related $2.8 million loan charge-off. The provision recovery in the second quarter of 2026 reflected a continuing favorable trend for historical loss rates along with a softening of reserve requirements due to the contraction in the size of the loan portfolio. Non-performing assets were relatively stable since December 31, 2025, decreasing by $138,000, or 1.6%, and totaling $8.4 million. Non-performing loans represented 0.76% of total loans on June 30, 2026. The Company recognized net loan charge-offs of $230,000, or 0.05% of total average loans, in the first six months of 2026 compared to net loan charge-offs of $3.0 million, or 0.56% of total average loans, in the first six months of 2025. Overall, the Company's allowance for loan credit losses provided 167% coverage of non-performing loans and represented 1.27% of total loans at June 30, 2026. Total non-interest income in the second quarter of 2026 increased by $471,000, or 11.5%, from the prior year's second quarter and increased by $317,000, or 3.9%, in the first half of 2026 when compared to the first half of 2025. The increase in both time periods was due to higher levels of wealth management fees and bank owned life insurance (BOLI) revenue. Wealth management fees increased by $312,000, or 11.2%, for the second quarter and by $308,000, or 5.5%, for the six months due to market appreciation of customer assets as the equity markets moved to record levels in the second quarter of 2026. Overall, the fair market value of wealth management assets totaled $2.8 billion at June 30, 2026, and increased by $75 million, or 2.8%, since December 31, 2025. BOLI revenue increased by $118,000 in the second quarter of 2026 and by $92,000 for the six-month period due to the receipt of a larger death claim in 2026. Total non-interest expense in the second quarter of 2026 increased by $1.1 million, or 9.3%, when compared to the second quarter of 2025 and increased by $1.7 million, or 7.2%, during the first half of 2026 when compared to the first half of 2025. Professional fees increased by $520,000, or 57.6%, for the second quarter and by $1.0 million, or 63.0%, for the six months due to additional expenses related to expanded consulting services provided to the Company by SB Value Partners in accordance with the amended and restated consulting agreement. Salaries and employee benefits increased by $336,000, or 4.7%, for the second quarter and $338,000, or 2.4%, for the six months due primarily to annual salary increases. Other expenses increased by $126,000, or 10.6%, for the second quarter and $234,000, or 10.1%, for the six months due to the bank having to recognize additional workout expenses related to a loan relationship secured by an owner-occupied CRE property. The Company recorded income tax expense of $1.1 million in the first half of 2026, or an effective tax rate of 19.3%, which compares to income tax expense of $408,000, or an effective tax rate of 20.1%, in the first half of 2025. The Company had total assets of $1.46 billion, shareholders' equity of $123.1 million, a book value of $7.26 per common share and a tangible book value of $6.45(1) per common share on June 30, 2026. Book value per common share increased by $0.55, or 8.2%, and tangible book value per common share also increased by $0.56, or 9.5%, over the past 12 months. The Company and Bank continued to maintain a strong capital position that exceeds the regulatory defined well-capitalized status as of June 30, 2026. QUARTERLY COMMON STOCK DIVIDEND The Company's Board of Directors declared a $0.03 per share quarterly common stock cash dividend. The cash dividend is payable August 17, 2026, to shareholders of record on August 3, 2026. This cash dividend represents a 3.1% annualized yield using the July 17, 2026, closing stock price of $3.90 and a 22.2% payout ratio based upon 2026 year to date earnings. Forward-Looking Statements This press release contains forward-looking statements as defined in the Securities Exchange Act of 1934 and is subject to the safe harbors created therein. Such statements are not historical facts and include expressions about management's confidence and strategies and management's current views and expectations about new and existing programs and products, relationships, opportunities, technology, market conditions, dividend program, and future payment obligations. These statements may be identified by such forward-looking terminology as "continuing," "expect," "look," "believe," "anticipate," "may," "will," "should," "projects," "strategy," or similar statements. Actual results may differ materially from such forward-looking statements, and no reliance should be placed on any forward-looking statement. Factors that may cause results to differ materially from such forward-looking statements include, but are not limited to, changes in the financial markets, the level of inflation, and the direction of interest rates; volatility in earnings due to certain financial assets and liabilities held at fair value; competition levels; loan and investment prepayments differing from our assumptions; insufficient allowance for credit losses; a higher level of loan charge-offs and delinquencies than anticipated; material adverse changes in our operations or earnings; a decline in the economy in our market areas; changes in relationships with major customers; changes in effective income tax rates; higher or lower cash flow levels than anticipated; inability to hire or retain qualified employees; a decline in the levels of deposits or loss of alternate funding sources; a decrease in loan origination volume or an inability to close loans currently in the pipeline; changes in laws and regulations; adoption, interpretation and implementation of accounting pronouncements; operational risks, including the risk of fraud by employees, customers or outsiders; unanticipated effects to our banking platform, including risks and unanticipated costs related to a core system migration; developments in technology, such as artificial intelligence, and our ability to incorporate innovative technologies in our business and provide products and services that satisfy our customers' expectations for convenience and security; and the inability to successfully implement or expand new lines of business or new products and services. These forward-looking statements involve risks and uncertainties that could cause AmeriServ's results to differ materially from management's current expectations. Such risks and uncertainties are detailed in AmeriServ's filings with the Securities and Exchange Commission, including our Annual Report on Form 10-K for the year ended December 31, 2025. Forward-looking statements are based on the beliefs and assumptions of AmeriServ's management and on currently available information. The statements in this press release are made as of the date of this press release, even if subsequently made available by AmeriServ on its website or otherwise. AmeriServ undertakes no responsibility to publicly update or revise any forward-looking statement. View original content to download multimedia:https://www.prnewswire.com/news-releases/ameriserv-financial-reports-increased-earnings-for-the-second-quarter-and-first-six-months-of-2026-and-announces-quarterly-common-stock-cash-dividend-302830134.html

Shares of AmeriServ Financial, Inc. ASRV have declined 1% since the company reported its earnings for the quarter ended March 31, 2025, underperforming the S&P 500 index’s 0.8% rise over the same period. Over the past month, the stock advanced 7.4%, trailing the broader market’s 13.5% increase, indicating a relatively muted investor response compared to the benchmark. AmeriServ reported first-quarter 2026 net income of 11 cents per share compared with 12 cents per share in the prior-year period. This represents a 8.3% drop in earnings per share. The company highlighted growth in net interest income, which increased by $0.9 million, or 9%, year over year, driven by an improved net interest margin and effective balance sheet management. However, higher non-interest expenses, increased provision for credit losses, and lower non-interest income offset this gain, leading to the overall earnings decline. Net income of $1.8 million decreased 6% from $1.9 million in the prior-year period. AmeriServ Financial Inc. price-consensus-eps-surprise-chart | AmeriServ Financial Inc. Quote A key highlight of the quarter was the improvement in net interest income and margin. Net interest margin rose to 3.26%, up 25 basis points from the prior year, reflecting better asset yields and lower funding costs. The increase in net interest income was supported by higher average earning assets and improved pricing strategies, as well as the impact of Federal Reserve rate cuts in late 2025, which reduced deposit and borrowing costs. Interest expense declined by $0.4 million, or 5.9%, while total interest income increased by 2.8%. Average total loans declined by $37.5 million, or 3.5%, due to elevated loan payoff activity, particularly in the commercial real estate portfolio. Despite this, total loans remained above $1 billion. In contrast, investment securities grew significantly, with average balances increasing 10.1% year over year and the portfolio expanding 13.7% from March 2025 levels. Deposit growth remained steady, with average deposits rising 2%, supporting liquidity and reducing reliance on borrowings. The provision for credit losses was $0.2 million in the first quarter of 2026, compared with a $0.1 million recovery in the prior-year quarter, representing a $0.3 million unfavorable swing. Net charge-offs increased to $0.2 million, or 0.08% of average loans, versus $0.06 million, or 0.02%, a year earlier. Non-performing assets rose modestly to $8.7 million, though non-performing loans as a percentage of total loans declined slightly to 0.78%. Non-interest income decreased by $0.2 million, or 3.7%, largely due to the absence of gains from asset sales recorded in the prior year and a loss on trading securities. Meanwhile, non-interest expense rose by $0.6 million, or 5.1%, driven primarily by a 70.1% surge in professional fees tied to an expanded consulting agreement and higher recruitment and advisory costs. Additional expenses related to the loan workout activity also contributed to the increase. Management emphasized that the company achieved positive operating leverage, with revenue growth outpacing expense increases, primarily due to stronger net interest income. The company highlighted its strong liquidity and capital position and expressed confidence in continued net interest margin expansion through 2026. Leadership also indicated a focus on organic growth, revenue enhancement and expense control to improve efficiency. AmeriServ maintained solid capital levels, with total assets of $1.5 billion and shareholders’ equity of $120.7 million at quarter-end. Book value per share increased 6.3% year over year to $7.12, while tangible book value rose 7.3% to $6.31. The company declared a quarterly cash dividend of 3 cents per share, reflecting a payout ratio of 27.3% based on first-quarter earnings. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report AmeriServ Financial Inc. (ASRV): Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

JOHNSTOWN, Pa., April 21, 2026 /PRNewswire/ -- AmeriServ Financial, Inc. (NASDAQ: ASRV) reported first quarter 2026 net income of $1,794,000, or $0.11 per diluted common share. This compares to net income for the first quarter of 2025 of $1,908,000, or $0.12 per diluted common share. The following table details the Company's financial performance for the quarters ended March 31, 2026 and 2025: Jeffrey A. Stopko, President and Chief Executive Officer, commented on the first quarter 2026 financial results: "AmeriServ Financial achieved positive operating leverage in the first quarter of 2026 as our total revenue increased at a faster rate than our total non-interest expense. The increase in total revenue was caused by meaningful improvement in our net interest income because of effective balance sheet management. Specifically, our net interest margin increased by 25-basis points from the first quarter of 2025 leading to an $897,000 increase in net interest income, which is important since this category represents approximately 73% of our total revenue. Our Company is well positioned for organic growth in 2026 as we have strong liquidity and solid capital. We will continue to diligently focus on both revenue growth and expense control to further improve the Company's operating efficiency in 2026." All first quarter financial performance metrics within this document are compared to the first quarter of 2025 unless otherwise noted. Net interest income in the first quarter of 2026 increased by $897,000, or 9.0%, when compared to the first quarter of 2025. The Company's net interest margin of 3.26% for the first quarter of 2026 represents a 25-basis point improvement from the first quarter of 2025. Along with the significantly improved net interest margin performance, the increase also reflects controlled balance sheet growth, as both total earning assets and total deposits are at higher average levels due to our effective balance sheet management and business development strategies. This, combined with effective pricing strategies, resulted in both the total earning asset yield and cost of interest-bearing funds improving between years. The Federal Reserve's action to lower short-term interest rates during the final four months of 2025 favorably impacted total interest-bearing deposits and borrowings costs. Also, while the U.S. Treasury yield curve is relatively flat on the short end, yields in the mid to long end of the curve are higher and demonstrate a steeper upward slope which favorably impacted earning asset yields. Management believes the net interest margin will continue to improve as we move through 2026 given the effective execution of our strategy. Non-interest expense increased in the first quarter of 2026 compared to last year's first quarter while non-interest income decreased compared to the first quarter of 2025. The first quarter provision for credit losses in 2026 was at a normal level but compared unfavorably to a credit recognized for the provision in the first quarter of last year. Overall, the Company's earnings performance for the first quarter of 2026 compares unfavorably to the first quarter of 2025 by $114,000, or 6.0%, as the improvement in net interest income was more than offset by higher total non-interest expense, the higher provision for credit losses and the lower level of non-interest income. Total investment securities averaged $271.6 million for the first quarter of 2026, which was $24.9 million, or 10.1%, higher than the $246.7 million average for the first quarter of 2025. Additionally, overnight short-term investments were higher by $17.0 million in the first quarter of 2026. These increases reflect a higher level of loan prepayment activity as well as our liquidity position strengthening throughout 2025 and the first quarter of 2026 due to deposit growth. Therefore, more funds were available to invest in the securities portfolio during a time when security yields improved, making purchases more attractive. As a result, the securities portfolio grew by $31.6 million, or 13.7%, since March 31, 2025. New investment security purchases were also necessary to replace cash flow from maturing securities to maintain appropriate balances for pledging purposes related to public fund deposits. The higher balances and improved yields for new securities purchases caused interest income from investments to increase by $582,000, or 23.2%, for the first quarter of 2026 compared to last year's first quarter. Total average loans for the first quarter of 2026 declined from the first quarter of 2025 by $37.5 million, or 3.5%, due to increased loan payoff activity, particularly from the commercial real estate (CRE) portfolio, during the second half of 2025 and exceeded loan originations. Total loans continue to be above the $1.0 billion threshold, averaging $1.027 billion for the first quarter of 2026. Total loan interest income in the first quarter of 2026 declined compared to the first quarter of 2025 as the lower average loan balance more than offset the more favorable interest rate environment in 2026, and a portion of CRE loans, that were booked during the COVID pandemic when interest rates were low, repricing upward during the first quarter of 2026. Total loan interest income decreased by $102,000, or 0.7%, when compared to the first quarter of 2025. Overall, the first quarter of 2026 average balance of total interest earning assets increased from last year's first quarter average by $11.7 million, or 0.9%, while total interest income increased by $480,000, or 2.8%, from the first quarter of 2025. On the liability side of the balance sheet, total average deposits for the first quarter of 2026 were $24.5 million, or 2.0%, higher when compared to the first quarter average of 2025 due to the Company's successful business development efforts. Additionally, the Company's core deposit base continues to demonstrate the strength and stability that it has for many years due to customer loyalty and confidence in AmeriServ Financial Bank. The Company does not utilize brokered deposits as a funding source. The loan to deposit ratio averaged 82.7% in the first quarter of 2026, which indicates that the Company has ample capacity to continue to grow its loan portfolio and is well positioned to support our customers and our community during times of economic volatility. Total interest expense decreased favorably by $417,000, or 5.9%, for the first quarter of 2026 when compared to the same time period of 2025. Deposit interest expense decreased by $205,000, or 3.3%, despite total average interest-bearing deposits growing by $39.2 million, or 3.8%, compared to the first quarter of 2025. The decrease in deposit interest expense reflects management's effective deposit pricing strategies along with the benefit of the Federal Reserve easing monetary policy during the final four months of 2025. This reduction in interest-bearing deposit costs contributed to the previously mentioned improvement in the net interest margin. Overall, total deposit cost (including the benefit of non-interest-bearing demand deposits) averaged 1.93% for the first quarter of 2026, which is an 11-basis point improvement from the first quarter of 2025. Total borrowings interest expense decreased by $212,000, or 21.9%, for the first quarter of 2026. The Company's utilization of overnight borrowed funds during the first quarter of 2026 was lower than it was for the first quarter of 2025, resulting in the first quarter average decreasing by $5.6 million, or 86.7%, due to the higher level of total average deposits. Also, management elected not to replace the majority of maturing Federal Home Loan Bank (FHLB) term advances during the full year of 2025 and did not replace any during the first quarter of 2026 because of the strength of the Company's liquidity position. Therefore, the total average balance of advances from the FHLB during the first quarter of 2026 decreased by $12.2 million, or 22.2%, from last year's first quarter. The decrease in borrowings interest expense also reflects the Federal Reserve's 2025 action to ease monetary policy by 75-basis points which had an immediate and favorable impact on the cost of overnight borrowed funds. The Company recorded a $217,000 provision for credit losses in the first quarter of 2026 after recording a $97,000 provision recovery in the first quarter of 2025, resulting in an unfavorable shift of $314,000. The provision for credit losses in the first quarter reflects a $284,000 provision for credit losses on loans resulting from updates to both historical loss rates and qualitative adjustments and an additional $27,000 of provision expense was recognized to create a partial reserve for a senior debt corporate investment within the securities portfolio. Both of these items were partially offset by a $94,000 provision recovery related to unfunded commitments because of a decline in outstanding loan commitments. Non-performing assets were relatively stable since December 31, 2025, increasing by $204,000, or 2.4%, and totaling $8.7 million. The increase reflects the transfer of a $500,000 senior debt corporate security into non-accrual status that became impaired during the first quarter of 2026. The transfer of this security into non-accrual status more than offset a $296,000 reduction to non-performing loans since year end 2025. Non-performing loans represented 0.78% of total loans at March 31, 2026 and decreased by 2-basis points from December 31, 2025. The Company recognized net loan charge-offs of $206,000, or 0.08% of total average loans, in the first quarter of 2026 compared to net loan charge-offs of $64,000, or 0.02% of total average loans, in the first quarter of 2025. Overall, the Company's allowance for loan credit losses provided 165% coverage of non-performing loans and represented 1.28% of total loans at March 31, 2026. Total non-interest income in the first quarter of 2026 decreased by $154,000, or 3.7%, from the prior year's first quarter. Other income is lower by $110,000, or 15.9%, after a net gain was recognized from two separate sales in the first quarter of 2025 of a Bank branch office and an OREO property. There was no such sale activity in the first quarter of 2026. Also, contributing to the unfavorable comparison for total non-interest income was the Company recognizing a $63,000 loss on trading securities from a $7.2 million trading account that did not exist in the first quarter of 2025. Partially offsetting these unfavorable items were increases to service charges on deposit accounts by $27,000, or 9.8%, because of the deposit growth the Company experienced and a $22,000, or 78.6%, increase in mortgage banking revenue due to increased production in 2026. Finally, wealth management fees are relatively consistent with the level achieved in the first quarter of 2025. Overall, the fair market value of wealth management assets totaled $2.6 billion at March 31, 2026 and decreased by $68.0 million, or 2.5%, since December 31, 2025. Total non-interest expense in the first quarter of 2026 increased by $595,000, or 5.1%, when compared to the first quarter of 2025. Professional fees increased by $480,000, or 70.1%, due to additional expenses related to the amended and restated consulting agreement with SB Value Partners that expands the nature and scope of the consulting services provided to the Company. Details of this revised agreement were provided in the Company's Report on Form 8-K filed on January 7, 2026. Also contributing to the increase in professional fees were higher costs for recruitment and outside professional services. Other expenses were $108,000, or 9.5%, higher due to the bank having to recognize additional workout expenses related to a loan relationship secured by an owner-occupied CRE property. The additional costs related to this property were the sole reason for the unfavorable quarter over quarter comparison for other expenses. Slightly offsetting the higher level of expense was reduced FDIC deposit insurance expense by $30,000, or 12.5%. The Company recorded income tax expense of $426,000 in the first quarter of 2026, or an effective tax rate of 19.2%, which compares to income tax expense of $478,000, or an effective tax rate of 20.0%, in the first quarter of 2025. The Company had total assets of $1.47 billion, shareholders' equity of $120.7 million, a book value of $7.12 per common share and a tangible book value of $6.31(1) per common share on March 31, 2026. Book value per common share increased by $0.42, or 6.3%, and tangible book value per common share also increased by $0.43, or 7.3%, over the past 12 months. The Company and Bank continued to maintain strong capital ratios that exceed the regulatory defined well-capitalized status as of March 31, 2026. QUARTERLY COMMON STOCK DIVIDEND The Company's Board of Directors declared a $0.03 per share quarterly common stock cash dividend. The cash dividend is payable May 18, 2026, to shareholders of record on May 4, 2026. This cash dividend represents a 3.0% annualized yield using the April 17, 2026 closing stock price of $3.94 and a 27.3% payout ratio based upon 2026 first quarter earnings. Forward-Looking Statements This press release contains forward-looking statements as defined in the Securities Exchange Act of 1934 and is subject to the safe harbors created therein. Such statements are not historical facts and include expressions about management's confidence and strategies and management's current views and expectations about new and existing programs and products, relationships, opportunities, technology, market conditions, dividend program, and future payment obligations. These statements may be identified by such forward-looking terminology as "continuing," "expect," "look," "believe," "anticipate," "may," "will," "should," "projects," "strategy," or similar statements. Actual results may differ materially from such forward-looking statements, and no reliance should be placed on any forward-looking statement. Factors that may cause results to differ materially from such forward-looking statements include, but are not limited to, changes in the financial markets, the level of inflation, and the direction of interest rates; volatility in earnings due to certain financial assets and liabilities held at fair value; competition levels; loan and investment prepayments differing from our assumptions; insufficient allowance for credit losses; a higher level of loan charge-offs and delinquencies than anticipated; material adverse changes in our operations or earnings; a decline in the economy in our market areas; changes in relationships with major customers; changes in effective income tax rates; higher or lower cash flow levels than anticipated; inability to hire or retain qualified employees; a decline in the levels of deposits or loss of alternate funding sources; a decrease in loan origination volume or an inability to close loans currently in the pipeline; changes in laws and regulations; adoption, interpretation and implementation of accounting pronouncements; operational risks, including the risk of fraud by employees, customers or outsiders; unanticipated effects to our banking platform, including risks and unanticipated costs related to a core system migration; developments in technology, such as artificial intelligence, and our ability to incorporate innovative technologies in our business and provide products and services that satisfy our customers' expectations for convenience and security; and the inability to successfully implement or expand new lines of business or new products and services. These forward-looking statements involve risks and uncertainties that could cause AmeriServ's results to differ materially from management's current expectations. Such risks and uncertainties are detailed in AmeriServ's filings with the Securities and Exchange Commission, including our Annual Report on Form 10-K for the year ended December 31, 2025. Forward-looking statements are based on the beliefs and assumptions of AmeriServ's management and on currently available information. The statements in this press release are made as of the date of this press release, even if subsequently made available by AmeriServ on its website or otherwise. AmeriServ undertakes no responsibility to publicly update or revise any forward-looking statement. View original content to download multimedia:https://www.prnewswire.com/news-releases/ameriserv-financial-reports-earnings-for-the-first-quarter-of-2026-and-announces-quarterly-common-stock-cash-dividend-302748560.html

AmeriServ Financial, Inc. ASRV reported fourth-quarter 2025 net income of 9 cents per share, up 80% from 5 cents per share a year ago. Net income stood at $1.4 million, which surged 62.2% from $0.9 million a year ago. This strong earnings performance was primarily driven by a $1.4 million, or 14.6%, increase in net interest income for the fourth quarter and a $1 million, or 8.8%, rise in total non-interest expense, both of which more than offset a $0.3 million, or 31.6%, decrease in provision for credit losses and a $0.1 million, or 1.8%, decline in non-interest income. For the full year 2025, earnings rose sharply to $5.6 million, or 34 cents per share, marking an increase from $3.6 million, or 21 cents per share, in 2024. Net interest income rose 14.6% year over year in the fourth quarter and 17.2% for the full year. The company’s net interest margin increased 35 basis points to 3.23% for the fourth quarter and 34 basis points to 3.15% for the full year. This expansion was supported by a favorable shift in the interest rate environment, strategic asset-liability management, and increased average balances in both earning assets and deposits. Loan interest income also saw a 6% increase for the full year, aided by prepayment fees and the repricing of commercial real estate (CRE) loans originally issued during low-rate periods in the COVID era. Non-interest income declined 1.8% year over year in the fourth quarter and dropped 5.5% for the full year, primarily due to a decrease in wealth management fees and the absence of a $0.3 million signing bonus recorded in 2024. Mortgage banking revenue also fell by 39.5%, while bank-owned life insurance (BOLI) income increased by 20.3% following the receipt of three death claims. Despite a $1 million, or 8.8%, rise in non-interest expense during the fourth quarter, full-year non-interest expense declined modestly. A key contributor to the quarterly increase was a 74.8% jump in professional fees related to a new consulting agreement with SB Value Partners. However, for the full year, professional fees were down 21.5%, reflecting reduced litigation and activist investor-related costs that had impacted 2024 results. The company recorded a provision for credit losses of $0.7 million in the fourth quarter, down from $1.1 million in the prior year period. However, the full-year provision rose significantly to $4.1 million from $0.9 million, primarily due to a $3.1 million charge-off tied to the resolution of a large non-performing CRE loan. As a result, net charge-offs for 2025 totaled $4.9 million, or 0.46% of average loans, up from $2 million, or 0.19%, in 2024. Still, asset quality metrics improved by year-end. Non-performing assets declined by 43% from September 2025 to $8.5 million. Non-performing loans represented 0.80% of total loans at year-end, down 59 basis points from the prior quarter. The allowance for loan credit losses covered 158% of non-performing loans. CEO Jeffrey A. Stopko emphasized that AmeriServ’s 2025 earnings improvement was driven by revenue gains and disciplined expense control, despite elevated credit loss provisions. He pointed to effective balance sheet management and an 11.2% rise in book value per share to $7.22 as signs of the bank’s operational progress. Stopko further indicated that ongoing strategies targeting net interest margin expansion and cost control are expected to support continued earnings growth in 2026. AmeriServ declared a 3 cents per share quarterly cash dividend, maintaining a payout ratio of 35.3% based on 2025 earnings. The dividend represents an annualized yield of 3.7% based on the Jan. 16, 2026, closing stock price of $3.22. There were no reported acquisitions, divestitures, or restructuring activities during the quarter. However, the company highlighted a revised consulting agreement with SB Value Partners as a strategic initiative to expand advisory support. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report AmeriServ Financial Inc. (ASRV): Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

JOHNSTOWN, Pa., Jan. 20, 2026 /PRNewswire/ -- AmeriServ Financial, Inc. (NASDAQ: ASRV) reported fourth quarter 2025 net income of $1,442,000, or $0.09 per diluted common share. This earnings performance represented a $553,000, or 62.2%, improvement from the fourth quarter of 2024 when net income totaled $889,000, or $0.05 per diluted common share. For the year ended December 31, 2025, the Company reported net income of $5,612,000, or $0.34 per diluted common share. This represented a 61.9% increase in earnings per share from the full year 2024 when net income totaled $3,601,000, or $0.21 per diluted common share. The following table details the Company's financial performance for the three- and twelve-month periods ended December 31, 2025 and 2024: Jeffrey A. Stopko, President and Chief Executive Officer, commented on the 2025 financial results: "AmeriServ Financial's improved financial performance in 2025 was driven by increased revenue which caused us to achieve earnings growth while absorbing a higher provision for credit losses which was needed to bring final resolution to our largest non-performing loan. The increase in total revenue was caused by meaningful improvement in our net interest income for both the fourth quarter and full year of 2025 because of effective balance sheet management. Specifically, our net interest margin increased by 34-basis points for the 2025 year leading to a $6.2 million increase in net interest income, which is important since this category represents approximately 70% of our total revenue. Additionally, our non-interest expense also favorably declined in 2025. We will continue to diligently focus on both revenue growth and expense control to further improve the Company's operating efficiency in 2026. Finally, both our book value per share and tangible book value(1) per share experienced growth in 2025 increasing by 11.2% to $7.22 and 12.9% to $6.39, respectively, during the past year." All fourth quarter and full year 2025 financial performance metrics within this document are compared to the fourth quarter and full year 2024 unless otherwise noted. Net interest income in the fourth quarter of 2025 increased by $1.4 million, or 14.6%, from the prior year's fourth quarter and, for the full year of 2025, increased by $6.2 million, or 17.2%, when compared to the full year of 2024. The Company's net interest margin of 3.23% for the fourth quarter of 2025 and 3.15% for the full year of 2025 represents a 35-basis point improvement for the quarter and a 34-basis point increase for the full year. Along with the significantly improved net interest margin performance, the increase also reflects controlled balance sheet growth, as both total earning assets and total deposits are at higher average levels due to our effective balance sheet management and business development strategies. This, combined with effective pricing strategies, resulted in both the total earning asset yield and cost of interest-bearing funds improving between years. The Federal Reserve's action to lower short-term interest rates during 2024 and 2025 favorably impacted total interest-bearing deposits and borrowings costs. Also, while the U.S. Treasury yield curve remains modestly inverted on the short end, yields in the mid to long end of the curve are higher and demonstrate a steeper upward slope which favorably impacted earning asset yields. Management believes the net interest margin will continue to improve throughout 2026 given the effective execution of our strategy. Non-interest expense increased for the fourth quarter but declined for the full year of 2025 compared to 2024 and favorably impacted full year earnings performance as management works to carefully control operating costs and gain efficiency improvements. Non-interest income in 2025 is lower for the fourth quarter and full year of 2025 when compared to both time periods of last year. The 2025 provision for credit losses compared favorably to last year for the quarter but compared unfavorably to 2024 for the full year. Overall, the Company's earnings performance for the full year of 2025 exceeds earnings for the full year of 2024 by $2.0 million, or 55.8%, and results from increased net interest income and lower total non-interest expense which more than offset the higher provision for credit losses and lower level of non-interest income. Total average loans for the full year of 2025 grew from the full year average of 2024 by $23.7 million, or 2.3%, due to consistent new loan funding opportunities. However, in the second half of 2025, commercial real estate (CRE) loan payoff activity exceeded originations and resulted in a $35.4 million, or 3.3%, decrease in total loans since December 31, 2024. This heightened payoff activity also caused total average loans for the fourth quarter of 2025 to compare unfavorably to the 2024 fourth quarter average by $12.8 million, or 1.2%. Overall, total loans continue to be well above the $1.0 billion threshold, averaging $1.045 billion for the fourth quarter of 2025. Total loan interest income improved in both time periods of 2025 compared to 2024 due to the more favorable interest rate environment, and a portion of CRE loans, that were booked during the COVID pandemic when interest rates were low, repricing upward during 2025. Also favorably impacting loan interest income was a higher level of loan fee income primarily due to prepayment fees collected on the increased early CRE payoff activity experienced during 2025. Total 2025 full year loan fee income was $553,000, or 58.8%, higher when compared to the full year of 2024. These favorable items resulted in 2025 full year total loan interest income improving by $3.4 million, or 6.0%, when compared to the full year of 2024. Total investment securities averaged $246.4 million for the fourth quarter of 2025, which was $14.8 million, or 6.4%, higher than the $231.6 million average for the fourth quarter of 2024. Additionally, overnight short-term investments were sharply higher by $34.6 million in the fourth quarter of 2025. These increases reflect the higher level of loan prepayment activity, as well as our liquidity position strengthening during 2025 due to deposit growth. Therefore, more funds were available to invest in the securities portfolio during a time when security yields improved, making purchases more attractive. As a result, the securities portfolio grew by $29.0 million, or 13.2%, since December 31, 2024. New investment security purchases were also necessary to replace cash flow from maturing securities to maintain appropriate balances for pledging purposes related to public fund deposits. The higher balances and improved yields for new securities purchases caused interest income from investments to increase by $744,000, or 31.2%, for the fourth quarter and by $1.4 million, or 14.9%, for the full year of 2025 compared to last year. Overall, the full year average balance of total interest earning assets increased from last year's full year average by $46.4 million, or 3.6%, while total interest income increased by $4.8 million, or 7.3%, from the 2024 year. On the liability side of the balance sheet, total average deposits for the full year of 2025 were $67.3 million, or 5.8%, higher when compared to the full year average of 2024 due to the Company's successful business development efforts. Additionally, the Company's core deposit base continues to demonstrate the strength and stability that it has for many years due to customer loyalty and confidence in AmeriServ Financial Bank. The Company does not utilize brokered deposits as a funding source. The loan to deposit ratio averaged 83.8% in the fourth quarter of 2025, which indicates that the Company has ample capacity to continue to grow its loan portfolio and is well positioned to support our customers and our community during times of economic volatility. Total interest expense favorably decreased by $295,000, or 3.9%, for the fourth quarter of 2025 and decreased by $1.4 million, or 4.5%, for the full year when compared to both time periods of 2024. Deposit interest expense increased slightly by $23,000, or 0.1%, for the full year of 2025 despite total average interest-bearing deposits growing significantly by $71.7 million, or 7.2%, compared to the full year of 2024. The small increase in deposit interest expense reflects the benefit of the Federal Reserve easing monetary policy during the final four months of 2024 and the latter portion of 2025. This reduction in interest-bearing deposit costs contributed to the previously mentioned improvement in the net interest margin. The Federal Reserve's action to ease monetary policy by another 75-basis points at their final three Federal Open Market Committee meetings in 2025 is anticipated to continue to have a favorable impact on interest bearing deposit costs as we move into 2026. Overall, total deposit cost (including the benefit of non-interest-bearing demand deposits) averaged 2.06% for the full year of 2025, which is a 12-basis point improvement from the full year of 2024. Total borrowings interest expense decreased by $340,000, or 28.8%, for the fourth quarter of 2025 and declined by $1.4 million, or 27.7%, for the full year when compared to both time periods of 2024. The Company's utilization of overnight borrowed funds for the full year of 2025 was significantly lower than it was for the full year of 2024, resulting in the full year average decreasing by $22.4 million, or 80.1%, due to the higher level of total average deposits. The decrease in borrowings interest expense also reflects the Federal Reserve's 2024 action to ease monetary policy by 100-basis points as well as their 2025 action to ease monetary policy by an additional 75-basis points which had an immediate and favorable impact on the cost of overnight borrowed funds. The Company recorded a $724,000 provision for credit losses in the fourth quarter of 2025 after recording a $1.1 million provision in the fourth quarter of 2024, resulting in a decrease in provision expense of $334,000, or 31.6%. The provision for credit losses in the fourth quarter was needed due to charge-off and charge-down activity within both the commercial & industrial (C&I) and CRE loan portfolios. For the full year of 2025, the Company recognized a $4.1 million provision for credit losses after recognizing an $884,000 provision for credit losses for the full year of 2024, resulting in an unfavorable increase of $3.2 million. The significant increase in the provision for credit losses for the full year primarily related to a $3.1 million charge-off in 2025 that was necessary to resolve the Company's largest problem CRE loan. Non-performing assets decreased meaningfully since September 30, 2025, by $6.4 million, or 43.0%, and totaled $8.5 million. The decrease reflects workout efforts and the charge-down of one C&I relationship as well as the payoff and final resolution of our largest problem loan. Non-performing loans represented 0.80% of total loans at December 31, 2025, and decreased by 59-basis points from September 30, 2025. The Company recognized net loan charge-offs of $1.9 million, or 0.74% of total average loans, in the fourth quarter of 2025 compared to net loan charge-offs of $1.5 million, or 0.58% of total average loans, in the fourth quarter of 2024. For the full year, the Company recognized net loan charge-offs of $4.9 million, or 0.46% of total average loans, in 2025 compared to net loan charge-offs of $2.0 million, or 0.19% of total average loans, in 2024. Overall, the Company's allowance for loan credit losses provided 158% coverage of non-performing loans and 1.27% of total loans at December 31, 2025. Total non-interest income in the fourth quarter of 2025 decreased by $82,000, or 1.8%, from the prior year's fourth quarter and declined by $986,000, or 5.5%, for the full year of 2025 when compared to the full year of 2024. Wealth management fees improved by $122,000, or 4.1%, for the quarter but were lower for the full year by $758,000, or 6.2%. The decrease in wealth management fees for the full year is attributed to the volatility and uncertainty that existed in the financial markets due to government fiscal policy, particularly earlier in 2025 and a net loss of accounts in the first half of the year. Additionally, the Financial Services division benefited from several large new business cases in 2024. The quarter over quarter favorable variance is due to the rebound in equity markets after the first quarter of 2025 market decline and resulted in management fees improving as the year progressed. Overall, the fair market value of wealth management assets totaled $2.7 billion at December 31, 2025 and increased by $122.5 million, or 4.8%, since December 31, 2024. Also, contributing to the unfavorable comparison for total non-interest income in the full year was a lower level of other income by $400,000, or 12.9%, after the Company recognized a $250,000 signing bonus from the renewal of a contract with Visa in the first quarter of 2024 while there was no such bonus in 2025. The remaining portion of the decrease to other income for the full year and the fourth quarter of 2025 was due to the Company recognizing a more favorable adjustment in 2024 to the fair market value of an interest rate swap related risk participation agreement as well as the credit valuation adjustment to the market value of the interest rate swap contracts. Mortgage banking revenue was lower by $120,000, or 39.5%, for the full year and resulted from a decreased level of residential mortgage production in 2025. Positively impacting non-interest income in 2025 was a higher level of BOLI revenue by $217,000, or 20.3%, for the full year due to the Company receiving three death claims during the year. Finally, the Company recognized gains on trading securities of $28,000 for the quarter and $118,000 for the full year from a trading account established in the second quarter of 2025. Total non-interest expense in the fourth quarter of 2025 increased by $1.0 million, or 8.8%, when compared to the fourth quarter of 2024 but decreased by $404,000, or 0.8%, for the full year of 2025 when compared to the full year of 2024. Professional fees increased by $670,000, or 74.8%, for the quarter but were $1.0 million, or 21.5%, lower for the full year. The unfavorable comparison in professional fees for the quarter was due to additional expense related to an amended and restated consulting agreement with SB Value Partners that expands the nature and scope of the consulting services provided to the Company. Details of this revised agreement were provided in the Company's Current Report on Form 8-K filed on January 7, 2026. The favorable full year comparison for professional fees occurred as legal and professional services costs were unfavorably impacted by litigation and responses to the actions of an activist investor in 2024. This matter was resolved in June 2024 as a result of a Settlement Agreement. Salaries & employee benefits increased by $283,000, or 4.0%, for the fourth quarter and $552,000, or 1.9%, compared to the full year of 2024. Within this broad category for the full year, health care costs are $355,000, or 10.6%, higher as the Company did not have to recognize any premium costs in January 2024 due to the effective negotiations with our health care provider last year. Total salaries increased by $668,000, or 3.3%, due primarily to annual salary merit increases. Additionally, helping to offset the higher costs within total salaries & employee benefits were reduced levels of incentive compensation by $405,000, or 27.6%, in the wealth management and commercial lending divisions. Finally, data processing and IT expenses were $138,000, or 2.9%, higher for the full year of 2025 when compared to last year due to additional expenses related to monitoring our computing and network environment. The Company recorded income tax expense of $1.2 million in 2025, or an effective tax rate of 17.4%, which compares to income tax expense of $798,000, or an effective tax rate of 18.1%, in 2024. The lower effective tax rate in 2025 was caused by additional tax-free income from BOLI. The Company had total assets of $1.45 billion, shareholders' equity of $119.3 million, a book value of $7.22 per common share and a tangible book value(1) of $6.39 per common share on December 31, 2025. Book value per common share increased by $0.73, or 11.2%, and tangible book value per common share also increased by $0.73, or 12.9%, since December 31, 2024, due to a favorable adjustment for both the unrealized loss on available for sale securities and the Company's defined benefit pension plan along with the Company's improved earnings. The Company continued to maintain strong capital ratios that exceed the regulatory defined well capitalized status as of December 31, 2025. QUARTERLY COMMON STOCK DIVIDEND The Company's Board of Directors declared a $0.03 per share quarterly common stock cash dividend. The cash dividend is payable February 17, 2026 to shareholders of record on February 2, 2026. This cash dividend represents a 3.7% annualized yield using the January 16, 2026 closing stock price of $3.22 and a 35.3% payout ratio based upon 2025 full year earnings. Forward-Looking Statements This press release contains forward-looking statements as defined in the Securities Exchange Act of 1934 and is subject to the safe harbors created therein. Such statements are not historical facts and include expressions about management's confidence and strategies and management's current views and expectations about new and existing programs and products, relationships, opportunities, technology, market conditions, dividend program, and future payment obligations. These statements may be identified by such forward-looking terminology as "continuing," "expect," "look," "believe," "anticipate," "may," "will," "should," "projects," "strategy," or similar statements. Actual results may differ materially from such forward-looking statements, and no reliance should be placed on any forward-looking statement. Factors that may cause results to differ materially from such forward-looking statements include, but are not limited to, changes in the financial markets, the level of inflation, and the direction of interest rates; volatility in earnings due to certain financial assets and liabilities held at fair value; competition levels; loan and investment prepayments differing from our assumptions; insufficient allowance for credit losses; a higher level of loan charge-offs and delinquencies than anticipated; material adverse changes in our operations or earnings; a decline in the economy in our market areas; changes in relationships with major customers; changes in effective income tax rates; higher or lower cash flow levels than anticipated; inability to hire or retain qualified employees; a decline in the levels of deposits or loss of alternate funding sources; a decrease in loan origination volume or an inability to close loans currently in the pipeline; changes in laws and regulations; adoption, interpretation and implementation of accounting pronouncements; operational risks, including the risk of fraud by employees, customers or outsiders; unanticipated effects to our banking platform, including risks and unanticipated costs related to a core system migration; and the inability to successfully implement or expand new lines of business or new products and services. These forward-looking statements involve risks and uncertainties that could cause AmeriServ's results to differ materially from management's current expectations. Such risks and uncertainties are detailed in AmeriServ's filings with the Securities and Exchange Commission, including our Annual Report on Form 10-K for the year ended December 31, 2024. Forward-looking statements are based on the beliefs and assumptions of AmeriServ's management and on currently available information. The statements in this press release are made as of the date of this press release, even if subsequently made available by AmeriServ on its website or otherwise. AmeriServ undertakes no responsibility to publicly update or revise any forward-looking statement. (1) Non-GAAP Financial Information. See "Reconciliation of Non-GAAP Financial Measures" at end of release. View original content to download multimedia:https://www.prnewswire.com/news-releases/ameriserv-financial-reports-increased-earnings-for-the-fourth-quarter-and-full-year-of-2025-and-announces-quarterly-common-stock-cash-dividend-302664611.html

Shares of AmeriServ Financial, Inc. ASRV have gained 5.6% since the company reported its earnings for the quarter ended Sept. 30, 2025. This compares to the S&P 500 index’s 0.9% change over the same time frame. Over the past month, the stock moved 8% versus the S&P 500’s 2.1% change, reflecting investors' favorable response to the company’s performance and outlook. AmeriServ reported net income of 15 cents per share for the third quarter of 2025, a sharp 114% increase over the 7 cents per share reported in the year-ago period. Total revenues were driven largely by improved net interest income and margin, partially offset by elevated credit loss provisions and a year-over-year decline in non-interest income. Net income of $2.5 million denoted a sharp 115% increase from the $1.2 million recorded in the year-ago period. AmeriServ Financial, Inc. price-consensus-eps-surprise-chart | AmeriServ Financial, Inc. Quote A standout driver of AmeriServ's third-quarter performance was the increase in net interest income, which rose 23.9% to $11 million compared to $8.9 million a year earlier. This improvement was underpinned by an expansion in the company’s net interest margin, which increased 56 basis points to 3.27% for the quarter. The margin improvement reflected controlled balance sheet growth and effective pricing strategies. In addition, Federal Reserve interest rate cuts late in 2024 and again in September 2025 helped reduce funding costs, boosting the company’s spread income. President and CEO Jeffrey A. Stopko credited the record third quarter earnings to "continued focus on generating positive operating leverage" and disciplined balance sheet management. Stopko highlighted a $4.8 million year-to-date increase in net interest income, representing roughly 70% of total revenues, and a favorable decline in non-interest expense over the same period. He reaffirmed management’s commitment to revenue growth and cost control to further improve operating efficiency. While top-line performance was strong, AmeriServ faced some pressure from credit quality and non-interest income. The company recorded a $0.4 million provision for credit losses in the third quarter, reversing a recovery of $0.1 million in the same period last year. Despite this, non-performing assets declined 8.9% from June 30, 2025, totaling $15 million at quarter-end, aided by the payoff of a non-performing commercial real estate loan and the charge-off of an impaired corporate security. Total loans stood at $1.1 billion in the third quarter. Meanwhile, deposit growth was solid, with average balances increasing 6% year-over-year, allowing the bank to reduce reliance on higher-cost borrowed funds and lower interest expense by 4.7% year-to-date. Non-interest income increased modestly by 4.7% in the third quarter to $4.4 million, driven by a $0.3 million boost in bank-owned life insurance (BOLI) revenue. Total non-interest expense rose 2.1% in the quarter to $12 million, due largely to increased workout expenses on a troubled CRE loan. The company declared a 3 cents per share quarterly dividend, payable Nov. 17, 2025, representing a 4% annualized yield and a 36% payout ratio based on 2025 year-to-date earnings. Shareholders' equity rose to $114.6 million, with book value per share increasing 6% year over year to $6.94, and tangible book value per share up 6.8% to $6.11. AmeriServ continues to maintain capital ratios above regulatory thresholds for well-capitalized institutions. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report AmeriServ Financial Inc. (ASRV): Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

JOHNSTOWN, Pa., Oct. 21, 2025 /PRNewswire/ -- AmeriServ Financial, Inc. (NASDAQ: ASRV) reported third quarter 2025 net income of $2,544,000, or $0.15 per diluted common share. This earnings performance represented a $1,361,000, or 115.0%, improvement from the third quarter of 2024 when net income totaled $1,183,000, or $0.07 per diluted common share. For the nine-month period ended September 30, 2025, the Company reported net income of $4,170,000, or $0.25 per diluted common share. This represented a 56.3% increase in earnings per share from the nine-month period of 2024 when net income totaled $2,712,000, or $0.16 per diluted common share. The following table details the Company's financial performance for the three- and nine-month periods ended September 30, 2025 and 2024: Jeffrey A. Stopko, President and Chief Executive Officer, commented on the third quarter 2025 financial results: "AmeriServ Financial achieved record quarterly earnings in the third quarter of 2025 due to our continued focus on generating positive operating leverage. The increase in total revenue was caused by meaningful improvement in our net interest income for both the third quarter and first nine months of 2025 because of effective balance sheet management. Specifically, our net interest margin increased by 41-basis points for the first nine months of 2025 leading to a $4.8 million increase in net interest income which is important since this category represents approximately 70% of our total revenue. Additionally, our non-interest expense has favorably declined for the first nine months of 2025. We will continue to diligently focus on both revenue growth and expense control to further improve the Company's operating efficiency." All third quarter and nine months 2025 financial performance metrics within this document are compared to the third quarter and nine months of 2024 unless otherwise noted. The Company's strong third quarter earnings reflected continued improvement in core performance along with higher than typical revenue from good income sources such as loan prepayment fees and bank owned life insurance (BOLI). Net interest income in the third quarter of 2025 increased by $2.1 million, or 23.9%, from the prior year's third quarter and, for the first nine months of 2025, increased by $4.8 million, or 18.2%, when compared to the first nine months of 2024. The Company's net interest margin of 3.27% for the third quarter of 2025 and 3.13% for the nine months of 2025 represents a 56-basis point improvement for the quarter and a 41-basis point increase for the nine months. Along with the significantly improved net interest margin performance, the increase also reflects controlled balance sheet growth, as both total loans and total deposits are at higher average levels due to management's effective business development strategies. This, combined with effective pricing strategies, resulted in both the total earning asset yield and cost of interest-bearing funds improving between years. The Federal Reserve's action to lower short-term interest rates during the latter portion of 2024 favorably impacted total interest-bearing deposits and borrowings costs. Also, while the U.S. Treasury yield curve remains modestly inverted on the short end, yields in the mid to long end of the curve are higher and demonstrate a steeper upward slope which favorably impacted earning asset yields. Management believes the net interest margin will continue to improve through the remainder of 2025 given the effective execution of our strategy along with the Federal Reserve's action to ease monetary policy in September 2025, which should further reduce funding costs. While non-interest expense is up for the quarter, it is lower through the first nine months of 2025 and favorably impacted year-to-date earnings performance as management works to carefully control operating costs. Conversely, non-interest income in 2025 is lower than what was recognized in the first nine months of last year but compares favorably quarter over quarter. Unfavorably impacting earnings was the Company recognizing a higher provision for credit losses for both the third quarter and nine months of 2025 when compared to both time periods of 2024. Overall, the Company's earnings performance through the first nine months of 2025 exceeds earnings through the first nine months of 2024 by $1.5 million, or 53.8%, and results from increased net interest income and lower total non-interest expense which more than offset the higher provision for credit losses and lower level of non-interest income. Total average loans in the first nine months of 2025 grew from the 2024 nine-month average by $35.9 million, or 3.5%, due to consistent new loan funding opportunities throughout 2024. So far in 2025, loan payoff activity has exceeded originations and resulted in a $12.7 million, or 1.2%, decrease in total loans since December 31, 2024. Overall, total loans continue to be well above the $1.0 billion threshold, averaging $1.067 billion for the third quarter of 2025. Total loan interest income improved in the first nine months of 2025 compared to the first nine months of 2024 due to the increased level of average total loans outstanding, and a portion of commercial real estate (CRE) loans, that were booked at the onset of the COVID pandemic when interest rates were low, repricing upward during the first nine months of 2025. Also favorably impacting loan interest income was a higher level of loan fee income primarily due to prepayment fees collected on the increased early payoff activity experienced so far this year. Total 2025 year to date loan fee income is $544,000, or 95.8%, higher when compared to the same timeframe in 2024. These favorable items resulted in total loan interest income improving by $3.0 million, or 7.2%, when the first nine months of 2025 is compared to first nine months of 2024. Total investment securities averaged $242.9 million for the third quarter of 2025, which was $4.4 million, or 1.8%, higher than the $238.5 million average for the third quarter of 2024. The increase reflects the higher level of loan prepayment activity, as well as our liquidity position strengthening during the first nine months of 2025 due to deposit growth. Therefore, more funds were available to invest in the securities portfolio during a time when security yields improved, making purchases more attractive. As a result, the securities portfolio grew by $17.3 million, or 7.9%, since December 31, 2024. New investment security purchases were also necessary to replace cash flow from maturing securities to maintain appropriate balances for pledging purposes related to public fund deposits. The improved yields for new securities purchases as well as several subordinated debt instruments being called during 2025 and replaced with higher yielding investments caused interest income from investments to increase by $388,000, or 16.1%, for the quarter and by $704,000, or 9.6%, for the first nine months of 2025 compared to last year. Overall, through nine months, the average balance of total interest earning assets increased from last year's average by $47.7 million, or 3.7%, while total interest income increased by $3.8 million, or 7.6%, from the first nine months of 2024. On the liability side of the balance sheet, total average deposits through the first nine months of 2025 were $69.5 million, or 6.0%, higher when compared to the first nine months of 2024 due to the Company's successful business development efforts. Additionally, the Company's core deposit base continues to demonstrate the strength and stability that it has for many years due to customer loyalty and confidence in AmeriServ Financial Bank. The Company does not utilize brokered deposits as a funding source. The loan to deposit ratio averaged 86.2% in the third quarter of 2025, which indicates that the Company has ample capacity to continue to grow its loan portfolio and is well positioned to support our customers and our community during times of economic volatility. Total interest expense favorably decreased by $345,000, or 4.4%, for the third quarter of 2025 and decreased by $1.1 million, or 4.7%, for the nine months when compared to both time periods of 2024. Deposit interest expense declined by $22,000, or 0.1%, through the first nine months of 2025 despite total average interest-bearing deposits growing by $71.9 million, or 7.3%, compared to the first nine months of last year. The year to date decrease in deposit interest expense reflects the benefit of the Federal Reserve easing monetary policy during the final four months of 2024. This reduction in interest-bearing deposit costs contributed to the previously mentioned improvement in the net interest margin. The Federal Reserve's action to ease monetary policy in September 2025 is anticipated to have a favorable impact on fourth quarter interest bearing deposit costs. Overall, total deposit cost (including the benefit of non-interest-bearing demand deposits which declined modestly between years) averaged 2.07% in the first nine months of 2025, which is a 12-basis point improvement from the first nine months of 2024. Total borrowings interest expense decreased by $379,000, or 29.0%, for the third quarter of 2025 and declined by $1.0 million, or 27.4%, for the first nine months when compared to both time periods of 2024. The Company's utilization of overnight borrowed funds for the nine months of 2025 was significantly lower than the first nine months of 2024, resulting in the year-to-date average decreasing by $23.8 million, or 78.8%, due to the higher level of total average deposits. The decrease in borrowings interest expense also reflects the Federal Reserve's 2024 action to ease monetary policy by 100 basis points which had an immediate and favorable impact on the cost of overnight borrowed funds. The Company recorded a $360,000 provision for credit losses in the third quarter of 2025 after recording a provision recovery of $51,000 in the third quarter of 2024, resulting in an increase in expense of $411,000. For the first nine months of 2025, the Company recognized a $3.4 million provision for credit losses after recognizing a $174,000 provision for credit losses recovery in the first nine months of 2024, resulting in a net unfavorable change of $3.6 million. The provision for credit losses in the third quarter was primarily related to an increase in specific reserves related to a commercial/owner- occupied CRE loan relationship. The significant increase in the provision for credit losses for the nine-month period related to an additional $2.8 million charge-off that was necessary to resolve the Company's largest problem asset, which was disclosed in our second quarter 2025 press release. Non-performing assets decreased since June 30, 2025, by $1.5 million, or 8.9%, and totaled $15.0 million. The decrease primarily reflects the charge off of an impaired corporate security. A reserve was previously established for this investment. Also contributing to the decrease in non-performing assets was the payoff of a CRE loan that was previously classified as non-performing. Non-performing loans represented 1.39% of total loans at September 30, 2025. The Company recognized net loan charge-offs of $2.9 million, or 0.37% of total average loans, in the first nine months of 2025 compared to net loan charge-offs of $488,000, or 0.06% of total average loans, in the first nine months of 2024. Overall, the Company's allowance for loan credit losses provided 98% coverage of non-performing loans and 1.36% of total loans at September 30, 2025. Total non-interest income in the third quarter of 2025 increased by $198,000, or 4.7%, from the prior year's third quarter but declined by $904,000, or 6.7%, in the first nine months of 2025 when compared to the first nine months of 2024. Wealth management fees were lower in both time periods of 2025, by $201,000, or 6.6%, for the quarter and by $880,000, or 9.4%, for the nine months. The decrease in wealth management fees is attributed to the volatility and uncertainty that existed in the financial markets due to government fiscal policy, particularly earlier in 2025. While equity markets rebounded during the second and third quarters of 2025, the first quarter 2025 decline in major market indexes unfavorably impacted equity securities resulting in management fees declining. Additionally, the Financial Services division benefited from several large new business cases in 2024. Overall, the fair market value of wealth management assets totaled $2.7 billion at September 30, 2025 and increased by $102.1 million, or 4.0%, since December 31, 2024. Also, contributing to the unfavorable comparison for total non-interest income in the first nine months were lower levels of other income by $183,000, or 8.3%, after the Company recognized a $250,000 signing bonus from the renewal of a contract with Visa in the first quarter of 2024 while there was no such bonus in 2025. Mortgage banking revenue was lower by $46,000, or 54.1%, for the quarter and by $106,000, or 45.9%, for the nine months and resulted from a decreased level of residential mortgage production in 2025. Positively impacting non-interest income in both time periods was a higher level of BOLI revenue by $289,000 for the quarter and by $220,000, or 26.8%, for the nine months due to the Company receiving two death claims during the third quarter of 2025. Finally, the Company recognized gains on trading securities of $55,000 for the quarter and $90,000 for the nine months from a $5 million trading account established in the second quarter of 2025. Total non-interest expense in the third quarter of 2025 increased by $243,000, or 2.1%, when compared to the third quarter of 2024 but decreased by $1.4 million, or 3.9%, during the first nine months of 2025 when compared to the first nine months of 2024. Professional fees decreased by $191,000, or 24.1%, for the third quarter and were $1.7 million, or 43.7%, lower for the nine months as 2024 legal and professional services costs were unfavorably impacted by litigation and responses to the actions of an activist investor. This matter was resolved in June 2024 as a result of a Settlement Agreement. Also favorably impacting total non-interest expense for the nine months were lower other expenses by $147,000, or 3.7%, primarily driven by the Company having to recognize a $410,000 pension settlement charge in 2024 while no such charge was required so far in 2025. This was partially offset by the bank having to recognize additional workout expenses related to a loan relationship secured by an owner-occupied CRE property. The additional costs related to this property were the primary reason for the unfavorable quarter over quarter comparison for other expenses. Salaries & employee benefits increased by $269,000, or 1.3%, compared to last year's first nine months. Within this broad category, health care costs are $364,000, or 15.1%, higher as the Company did not have to recognize any premium costs in January 2024 due to the effective negotiations with our health care provider last year. Total salaries increased by $411,000, or 2.7%, due to annual salary merit increases. Additionally, helping to offset the higher costs within total salaries & employee benefits were reduced levels of incentive compensation by $444,000, or 37.8%, in the wealth management and commercial lending divisions. The Company recorded income tax expense of $948,000 in the first nine months of 2025, or an effective tax rate of 18.5%, which compares to income tax expense of $611,000, or an effective tax rate of 18.4%, in the first nine months of 2024. The Company had total assets of $1.46 billion, shareholders' equity of $114.6 million, a book value of $6.94 per common share and a tangible book value of $6.11(1) per common share on September 30, 2025. Book value per common share increased by $0.39, or 6.0%, and tangible book value per common share increased by $0.39, or 6.8%, since September 30, 2024, due to a favorable adjustment for both the unrealized loss on available for sale securities and the Company's defined benefit pension plan along with the Company's improved earnings. The Company continued to maintain strong capital ratios that exceed the regulatory defined well capitalized status as of September 30, 2025. QUARTERLY COMMON STOCK DIVIDEND The Company's Board of Directors declared a $0.03 per share quarterly common stock cash dividend. The cash dividend is payable November 17, 2025 to shareholders of record on November 3, 2025. This cash dividend represents a 4.0% annualized yield using the October 17, 2025 closing stock price of $3.01 and a 36% payout ratio based upon 2025 year to date earnings. Forward-Looking Statements This press release contains forward-looking statements as defined in the Securities Exchange Act of 1934 and is subject to the safe harbors created therein. Such statements are not historical facts and include expressions about management's confidence and strategies and management's current views and expectations about new and existing programs and products, relationships, opportunities, technology, market conditions, dividend program, and future payment obligations. These statements may be identified by such forward-looking terminology as "continuing," "expect," "look," "believe," "anticipate," "may," "will," "should," "projects," "strategy," or similar statements. Actual results may differ materially from such forward-looking statements, and no reliance should be placed on any forward-looking statement. Factors that may cause results to differ materially from such forward-looking statements include, but are not limited to, changes in the financial markets, the level of inflation, and the direction of interest rates; volatility in earnings due to certain financial assets and liabilities held at fair value; competition levels; loan and investment prepayments differing from our assumptions; insufficient allowance for credit losses; a higher level of loan charge-offs and delinquencies than anticipated; material adverse changes in our operations or earnings; a decline in the economy in our market areas; changes in relationships with major customers; changes in effective income tax rates; higher or lower cash flow levels than anticipated; inability to hire or retain qualified employees; a decline in the levels of deposits or loss of alternate funding sources; a decrease in loan origination volume or an inability to close loans currently in the pipeline; changes in laws and regulations; adoption, interpretation and implementation of accounting pronouncements; operational risks, including the risk of fraud by employees, customers or outsiders; unanticipated effects to our banking platform; and the inability to successfully implement or expand new lines of business or new products and services. These forward-looking statements involve risks and uncertainties that could cause AmeriServ's results to differ materially from management's current expectations. Such risks and uncertainties are detailed in AmeriServ's filings with the Securities and Exchange Commission, including our Annual Report on Form 10-K for the year ended December 31, 2024. Forward-looking statements are based on the beliefs and assumptions of AmeriServ's management and on currently available information. The statements in this press release are made as of the date of this press release, even if subsequently made available by AmeriServ on its website or otherwise. AmeriServ undertakes no responsibility to publicly update or revise any forward-looking statement. View original content to download multimedia:https://www.prnewswire.com/news-releases/ameriserv-financial-reports-increased-earnings-for-the-third-quarter-and-first-nine-months-of-2025-and-announces-quarterly-common-stock-cash-dividend-302589442.html

JOHNSTOWN, Pa., July 22, 2025 /PRNewswire/ -- AmeriServ Financial, Inc. (NASDAQ: ASRV) reported a second quarter 2025 net loss of $282,000, or $0.02 per diluted common share. This earnings performance represented a $93,000 improvement from the second quarter of 2024 when the net loss totaled $375,000, or $0.02 per diluted common share. For the six-month period ended June 30, 2025, the Company reported net income of $1,626,000, or $0.10 per diluted common share. This represented an 11.1% increase in earnings per share from the six-month period of 2024 when net income totaled $1,529,000, or $0.09 per diluted common share. The following table details the Company's financial performance for the three- and six-month periods ended June 30, 2025 and 2024: Jeffrey A. Stopko, President and Chief Executive Officer, commented on the second quarter 2025 financial results: "The resolution of our largest problem loan in the second quarter of 2025 resulted in an increased provision for credit losses which caused the modest loss reported for the quarter. AmeriServ Financial has achieved positive operating leverage in both quarters of 2025 as our total revenue increased while our non-interest expenses declined. The increase in total revenue was caused by meaningful improvement in our net interest margin which increased by 34 basis points for the first six months of 2025 leading to a $2.7 million increase in net interest income. We believe that our balance sheet is well positioned for further quarterly net interest income growth and net interest margin improvement, which is important since this category represents approximately 70% of our total revenue. Additionally, our non-interest expense has favorably declined in both quarters of 2025. We will continue to diligently focus on both expense control and revenue growth to further improve the Company's operating efficiency." All second quarter and six months 2025 financial performance metrics within this document are compared to the second quarter and six months of 2024 unless otherwise noted. The Company's net interest income in the second quarter of 2025 increased by $1.5 million, or 17.1%, from the prior year's second quarter and, for the first six months of 2025, increased by $2.7 million, or 15.3%, when compared to the first six months of 2024. The Company's net interest margin of 3.10% for the second quarter of 2025 and 3.06% for the six months of 2025 represents a 36-basis point improvement for the quarter and a 34-basis point increase for the six months. The increase reflects controlled balance sheet growth, as both total loans and total deposits are at higher levels due to management's effective business development strategies. This, combined with effective pricing strategies, resulted in both the total earning asset yield and cost of interest-bearing funds improving between years. The Federal Reserve's action to lower short-term interest rates during the latter portion of 2024 favorably impacted total interest-bearing deposits and borrowings costs. Also, while the U.S. Treasury yield curve remains modestly inverted on the short end, yields in the mid to long end of the curve are higher and demonstrate a steeper upward slope which favorably impacted earning asset yields. Management believes the net interest margin will continue to improve through the second half of 2025. Earnings performance so far in 2025 was also favorably impacted by a lower level of total non-interest expense as management works to carefully control operating costs. Unfavorably impacting earnings was the Company recognizing a significantly higher provision for credit losses for both the second quarter and six months of 2025 when compared to both time periods of 2024. Also, non-interest income is lower than what was recognized in both time periods last year. Overall, the improvement in the Company's performance including increased net interest income and lower total non-interest expense more than offset the higher provision for credit losses and lower level of non-interest income resulting in earnings through six months of 2025 exceeding earnings through the first six months of 2024 by $97,000, or 6.3%. Total average loans in the first six months of 2025 grew from the 2024 six-month average by $37.2 million, or 3.6%, due to consistent new loan funding opportunities throughout 2024. So far in 2025, loan originations modestly exceed payoff activity and resulted in an $811,000, or 0.1%, increase in total loans since December 31, 2024. Overall, total loans continue to be well above the $1.0 billion threshold, averaging $1.069 billion for the second quarter of 2025. Total loan interest income improved in the first half of 2025 compared to the first half of 2024 due to the increased level of average total loans outstanding, and a portion of commercial real estate (CRE) loans, that were booked at the onset of the COVID pandemic when interest rates were low, have been repricing upward during the first six months of 2025. These favorable items resulted in total loan interest income improving by $1.7 million, or 6.0%, when the first half of 2025 is compared to first half of 2024. Total investment securities averaged $236.8 million for the first half of 2025, which was $1.5 million, or 0.6%, lower than the $238.3 million average for the first half of 2024. The decrease reflects management's 2024 strategy to allocate more cash flow from the securities portfolio to higher yielding loans while the Company controlled the amount of high cost overnight borrowed funds. However, our liquidity position strengthened during the first six months of 2025 due to deposit growth. Therefore, more funds were available to invest in the securities portfolio during a time when security yields improved, making purchases more attractive. As a result, the securities portfolio grew by $17.9 million, or 8.1%, since December 31, 2024. New investment security purchases were also necessary to replace cash flow from maturing securities to maintain appropriate balances for pledging purposes related to public fund deposits. The improved yields for new securities purchases caused interest income from investments to increase by $316,000, or 6.4%, for the first six months of 2025 compared to last year's first six months. Overall, through six months, the average balance of total interest earning assets increased from last year's average by $45.5 million, or 3.6%, while total interest income increased by $2.0 million, or 6.0%, from the first half of 2024. On the liability side of the balance sheet, total average deposits through the first six months of 2025 were $67.8 million, or 5.8%, higher when compared to the first six months of 2024 due to the Company's successful business development efforts. Additionally, the Company's core deposit base continues to demonstrate the strength and stability that it has for many years due to customer loyalty and confidence in AmeriServ Financial Bank. The Company does not utilize brokered deposits as a funding source. The loan to deposit ratio averaged 86.2% in the second quarter of 2025, which indicates that the Company has ample capacity to continue to grow its loan portfolio and is well positioned to support our customers and our community during times of economic volatility. Total interest expense favorably decreased by $340,000, or 4.5%, for the second quarter of 2025 and decreased by $726,000, or 4.8%, for the six months when compared to both time periods of 2024. Deposit interest expense declined by $56,000, or 0.4%, through the first six months of 2025 despite total average interest-bearing deposits growing by $68.7 million, or 7.0%, compared to the first six months of last year. The year to date decrease in deposit interest expense reflects the benefit of the Federal Reserve easing monetary policy during the final four months of 2024. This reduction in interest-bearing deposit costs contributed to the previously mentioned improvement in the net interest margin. Overall, total deposit cost (including the benefit of non-interest-bearing demand deposits which remained relatively stable between years) averaged 2.06% in the first half of 2025, which is a 12-basis point improvement from the first half of 2024. Total borrowings interest expense decreased by $359,000, or 28.8%, for the second quarter of 2025 and declined by $670,000, or 26.5%, for the first six months when compared to both time periods of 2024. The Company's utilization of overnight borrowed funds in the first half of 2025 was significantly lower than the first half of 2024 by $26.0 million, or 83.8%, due to the higher level of total average deposits. The decrease in borrowings interest expense also reflects the Federal Reserve's 2024 action to ease monetary policy by 100 basis points which had an immediate and favorable impact on the cost of overnight borrowed funds. Advances from the Federal Home Loan Bank averaged $52.9 million for the first half of 2025, which is $3.6 million, or 7.3%, higher than the $49.3 million average for the first half of 2024. Management's strategy to increase term advances to lock in lower rates than overnight borrowings is due to the inversion in the short end of the yield curve and has favorably impacted net interest income. The Company recorded a $3.1 million provision for credit losses in the second quarter of 2025 after recording provision expense of $434,000 in the second quarter of 2024, resulting in an increase in expense of $2.7 million. For the first six months of 2025, the Company recognized a $3.0 million provision for credit losses after recognizing a $123,000 provision for credit losses recovery in the first six months of 2024, resulting in a net unfavorable change of $3.2 million. The provision for credit losses expense in the second quarter of 2025 primarily reflects the resolution of the Company's largest problem asset, a mixed use commercial real estate retail/office property in the Pittsburgh market. The provision covers an additional $2.8 million charge-off that was necessary to write this property down to a court approved sales price at a hearing that was held in late June. The second quarter provision for credit losses also reflects an increase in historical loss rates, due to this large charge-off, used to calculate the allowance for loan credit losses in accordance with current expected credit losses (CECL). Non-performing assets increased since March 31, 2025, by $1.4 million, or 9.7%, and totaled $16.4 million. The increase reflects the net impact of the charge-off of the mixed use CRE loan, mentioned in the previous paragraph, which was more than offset by the transfer of three C&I loans from one borrower relationship and one additional $935,000 CRE loan into non-accrual status. Non-performing loans represented 1.42% of total loans at June 30, 2025. The Company recognized net loan charge-offs of $3.0 million, or 0.56% of total average loans, in the first six months of 2025 compared to net loan charge-offs of $332,000, or 0.06% of total average loans, in the first six months of 2024. Overall, the Company's allowance for loan credit losses provided 93% coverage of non-performing loans and 1.32% of total loans at June 30, 2025. Total non-interest income in the second quarter of 2025 decreased by $276,000, or 6.3%, from the prior year's second quarter and declined by $1.1 million, or 11.8%, in the first half of 2025 when compared to the first half of 2024. The decrease in both time periods was due to lower levels of wealth management fees by $277,000, or 9.1%, for the quarter and by $679,000, or 10.7%, for the six months. Also, contributing to the unfavorable comparison for the six months were lower levels of other income by $285,000, or 16.9%, bank owned life insurance (BOLI) by $69,000, or 12.0%, and mortgage banking revenue by $60,000, or 41.1%. The decrease in wealth management fees is attributed to the volatility and uncertainty that existed in the financial markets due to government fiscal policy, particularly earlier in 2025. While equity markets rebounded during the second quarter of 2025, the first quarter 2025 decline in major market indexes unfavorably impacted equity securities resulting in management fees declining. Additionally, the Financial Services division benefitted from several large new business cases in 2024. Overall, the fair market value of wealth management assets totaled $2.6 billion at June 30, 2025 and increased by $24.7 million, or 1.0%, since December 31, 2024. The decrease in other income for the six months of 2025 was primarily due to the Company recognizing a $250,000 signing bonus from the renewal of a contract with Visa in the first quarter of 2024 while there was no such bonus in 2025. The decrease to BOLI revenue for the six months resulted from the bank receiving a larger death claim in the first quarter of 2024 while the lower level of mortgage banking revenue resulted from a decreased level of residential mortgage production in 2025. Total non-interest expense in the second quarter of 2025 decreased by $1.6 million, or 11.9%, when compared to the second quarter of 2024 and decreased by $1.7 million, or 6.7%, during the first half of 2025 when compared to the first half of 2024. Professional fees decreased by $1.2 million, or 56.9%, for the second quarter and were $1.5 million, or 48.7%, lower for the six months as 2024 legal and professional services costs were unfavorably impacted by litigation and responses to the actions of an activist investor. This matter was resolved in June 2024 as a result of a Settlement Agreement. Also favorably impacting total non-interest expense were lower other expenses by $395,000, or 25.0%, for the second quarter of 2025 and by $417,000, or 15.2%, for the six months. The lower level of other expenses was primarily driven by the Company having to recognize a $376,000 pension settlement charge in the second quarter of 2024 while no such charge was required so far in 2025. For the six-month time-period, data processing and IT expenses increased by $104,000, or 4.5%, compared to the first six months of 2024 due to additional expenses related to monitoring our computing and network environment. Salaries & employee benefits increased by $74,000, or 0.5%, compared to last year's first six months. Within this broad category, health care costs are $332,000, or 22.2%, higher as the Company did not have to recognize any premium costs in January 2024 due to the effective negotiations with our health care provider last year. Total salaries increased by $177,000, or 1.8%, due to annual salary merit increases which were somewhat offset by a lower number of employees. Additionally, helping to offset the higher costs within total salaries & employee benefits were reduced levels of incentive compensation by $393,000, or 45.1%, largely in the Wealth Management division. The Company recorded income tax expense of $408,000 in the first half of 2025, or an effective tax rate of 20.1%, which compares to income tax expense of $374,000, or an effective tax rate of 19.7%, in the first half of 2024. The Company had total assets of $1.45 billion, shareholders' equity of $110.9 million, a book value of $6.71 per common share and a tangible book value of $5.89(1) per common share on June 30, 2025. Book value per common share increased by $0.43, or 6.8%, and tangible book value per common share increased by $0.44, or 8.1%, since June 30, 2024, due to a favorable adjustment for both the unrealized loss on available for sale securities and the Company's defined benefit pension plan. The Company continued to maintain strong capital ratios that exceed the regulatory defined well capitalized status as of June 30, 2025. QUARTERLY COMMON STOCK DIVIDEND The Company's Board of Directors declared a $0.03 per share quarterly common stock cash dividend. The cash dividend is payable August 18, 2025 to shareholders of record on August 4, 2025. This cash dividend represents a 3.9% annualized yield using the July 18, 2025 closing stock price of $3.08 and a 60% payout ratio based upon 2025 year to date earnings. Forward-Looking Statements This press release contains forward-looking statements as defined in the Securities Exchange Act of 1934 and is subject to the safe harbors created therein. Such statements are not historical facts and include expressions about management's confidence and strategies and management's current views and expectations about new and existing programs and products, relationships, opportunities, technology, market conditions, dividend program, and future payment obligations. These statements may be identified by such forward-looking terminology as "continuing," "expect," "look," "believe," "anticipate," "may," "will," "should," "projects," "strategy," or similar statements. Actual results may differ materially from such forward-looking statements, and no reliance should be placed on any forward-looking statement. Factors that may cause results to differ materially from such forward-looking statements include, but are not limited to, changes in the financial markets, the level of inflation, and the direction of interest rates; volatility in earnings due to certain financial assets and liabilities held at fair value; competition levels; loan and investment prepayments differing from our assumptions; insufficient allowance for credit losses; a higher level of loan charge-offs and delinquencies than anticipated; material adverse changes in our operations or earnings; a decline in the economy in our market areas; changes in relationships with major customers; changes in effective income tax rates; higher or lower cash flow levels than anticipated; inability to hire or retain qualified employees; a decline in the levels of deposits or loss of alternate funding sources; a decrease in loan origination volume or an inability to close loans currently in the pipeline; changes in laws and regulations; adoption, interpretation and implementation of accounting pronouncements; operational risks, including the risk of fraud by employees, customers or outsiders; unanticipated effects to our banking platform; and the inability to successfully implement or expand new lines of business or new products and services. These forward-looking statements involve risks and uncertainties that could cause AmeriServ's results to differ materially from management's current expectations. Such risks and uncertainties are detailed in AmeriServ's filings with the Securities and Exchange Commission, including our Annual Report on Form 10-K for the year ended December 31, 2024. Forward-looking statements are based on the beliefs and assumptions of AmeriServ's management and on currently available information. The statements in this press release are made as of the date of this press release, even if subsequently made available by AmeriServ on its website or otherwise. AmeriServ undertakes no responsibility to publicly update or revise any forward-looking statement. View original content to download multimedia:https://www.prnewswire.com/news-releases/ameriserv-financial-reports-earnings-for-the-second-quarter-and-first-six-months-of-2025-and-announces-quarterly-common-stock-cash-dividend-302509894.html SOURCE AmeriServ Financial, Inc.

JOHNSTOWN, Pa., April 22, 2025 /PRNewswire/ -- AmeriServ Financial, Inc. (NASDAQ: ASRV) reported first quarter 2025 net income of $1,908,000, or $0.12 per diluted common share. This compares to net income for the first quarter of 2024 of $1,904,000, or $0.11 per diluted common share. The following table details the Company's financial performance for the quarters ended March 31, 2025 and 2024:   Jeffrey A. Stopko, President and Chief Executive Officer, commented on the first quarter 2025 financial results: "AmeriServ Financial achieved positive operating leverage in the first quarter of 2025 as our total revenue increased while our non-interest expenses declined. The increase in total revenue was caused by meaningful improvement in net interest income as our first quarter net interest margin increased by 31 basis points from the prior year quarter and 13 basis points on a sequential quarter basis. We believe that our balance sheet is well positioned for further quarterly net interest income growth and net interest margin improvement, which is important since this category represents approximately 70% of our total revenue. Additionally, because of the changing interest rate environment and effective capital management, our book value and tangible book value per share increased by 10.6% to $6.70 and 11.8% to $5.88(1), respectively, during the past 12 months.  We will continue to stay close to our customers and manage the Company conservatively given the volatility and uncertainty in the financial markets." All first quarter 2025 financial performance metrics within this document are compared to the first quarter of 2024 unless otherwise noted. The Company's net interest income in the first quarter of 2025 increased by $1.2 million, or 13.5%, from the prior year's first quarter while the net interest margin of 3.01% for the first quarter 2025 represents a 31-basis point improvement when compared to the 2024 first quarter.  The increase reflects controlled balance sheet growth, as both total loans and total deposits are at higher levels due to management's effective business development strategies.  This, combined with effective pricing strategies, resulted in both the total earning asset yield and cost of interest-bearing funds improving between years.  The Federal Reserve's action to lower interest rates during the latter portion of 2024 favorably impacted total interest-bearing deposits and borrowings costs.  Also, while the U.S. Treasury yield curve remains modestly inverted on the short end, the mid to long end of the curve demonstrated a normal upward slope and favorably impacted earning asset yields.  Management believes the net interest margin will continue to improve through 2025. Earnings performance was also favorably impacted by a lower level of total non-interest expense.  While the Company benefitted from a provision for credit losses recovery in the first quarter of 2025, the size of the recovery was smaller than what was recognized in the first quarter of 2024.  This along with a lower level of non-interest income offset the improvement in net interest income and non-interest expense resulting in the first quarter 2025 earnings being slightly above 2024 first quarter earnings. Total average loans in the first quarter of 2025 grew from the 2024 first quarter average by $34.8 million, or 3.4%, due to consistent new loan funding opportunities throughout 2024.  So far in 2025, payoff activity has surpassed new loan originations and has resulted in a $6.1 million, or 0.6%, decline in total loans since December 31, 2024.  Overall, total loans continue to be well above the $1.0 billion threshold averaging $1.065 billion for the 2025 first quarter.  Total loan interest income improved in the first quarter of 2025 compared to last year's first quarter due to the increased level of average total loans outstanding, and a portion of commercial real estate (CRE) loans, that were booked at the onset of the COVID pandemic when interest rates were low, repricing upward during the first quarter of 2025.  These favorable items resulted in total loan interest income improving by $732,000, or 5.3%, when the 2025 first quarter is compared to 2024. Total investment securities averaged $231.4 million for the first quarter of 2025, which was $7.4 million, or 3.1%, lower than the $238.8 million average for the first quarter of 2024.  The decrease reflects management's 2024 strategy to allocate more cash flow from the securities portfolio to higher yielding loans while the Company controlled the amount of high cost overnight borrowed funds.  However, our liquidity position strengthened during the first quarter of 2025 due to deposit growth.  Therefore, more funds were available to invest in the securities portfolio during a time when security yields improved, making purchases more attractive. As a result, the securities portfolio grew by $12.0 million, or 5.5%, since December 31, 2024.  New investment security purchases were also necessary to replace cash flow from maturing securities to maintain appropriate balances for pledging purposes related to public fund deposits. The improved yields for new securities purchases caused interest income from investments to increase by $66,000, or 2.7%, for the first quarter of 2025 compared to last year's first quarter. Overall, the average balance of total interest earning assets increased from last year's first quarter average by $35.0 million, or 2.8%, while total interest income increased by $798,000, or 4.9%, from the first quarter of 2024. On the liability side of the balance sheet, first quarter 2025 total average deposits were $58.2 million, or 5.0%, higher when compared to the first quarter of 2024 due to the Company's successful business development efforts.  Additionally, the Company's core deposit base continues to demonstrate the strength and stability that it has for many years due to customer loyalty and confidence in AmeriServ Financial Bank.  The Company does not utilize brokered deposits as a funding source.  The loan to deposit ratio averaged 87.4% in the first quarter of 2025, which indicates that the Company has ample capacity to continue to grow its loan portfolio and is well positioned to support our customers and our community during times of economic volatility. Total interest expense favorably decreased by $386,000, or 5.2%, for the first quarter of 2025 when compared to the first quarter of 2024.  Deposit interest expense declined by $75,000, or 1.2%, despite total average interest-bearing deposits growing by $56.9 million, or 5.8%, compared to the first quarter of last year.  The quarter-over-quarter decrease in total interest expense was primarily due to total interest-bearing deposit cost demonstrating a declining trend that coincided with the Federal Reserve easing monetary policy during the final four months of 2024.  This reduction in interest-bearing deposit costs contributed to the previously mentioned improvement in the net interest margin.  Overall, total deposit cost (including the benefit of non-interest-bearing demand deposits which grew between years) averaged 2.04% in the first quarter of 2025, which is an 11-basis point improvement from the first quarter of 2024. Total borrowings interest expense decreased by $311,000, or 24.3%, in the first quarter of 2025 when compared to the first quarter of 2024.  The Company's utilization of overnight borrowed funds in the first quarter of 2025 was significantly lower than the 2024 first quarter level by $27.2 million, or 80.9%, due to the higher level of total average deposits. The decrease in borrowings interest expense also reflects the Federal Reserve's 2024 action to ease monetary policy by 100 basis points which had an immediate and favorable impact on the cost of overnight borrowed funds.  Advances from the Federal Home Loan Bank averaged $54.9 million for the first quarter of 2025, which is $7.0 million, or 14.6%, higher than the $47.9 million average for the 2024 first quarter.  Management's strategy to increase term advances to lock in lower rates than overnight borrowings is due to the inversion in the short end of the yield curve and has favorably impacted net interest income. The Company recorded a $97,000 provision for credit losses recovery in the first quarter of 2025 after recording a provision recovery of $557,000 in the first quarter of 2024, resulting in an unfavorable change of $460,000.  The provision for credit losses recovery in the first quarter of 2025 reflects the net impact of the following items: A $709,000 recovery was recognized on unfunded commitments and was based upon the results of an independent third-party validation recommendation to adjust the utilization rates used to calculate the provision.  This recovery was partially offset by $648,000 of provision expense primarily for establishing a full reserve for a corporate security in the available for sale (AFS) securities portfolio due to further credit deterioration after a partial reserve for this particular security was established last year.  Finally, a $36,000 recovery was recognized for the loan portfolio due to favorable adjustments to historical loss rates used to calculate the allowance for loan credit losses in accordance with current expected credit losses (CECL) and a decrease in end of period loan balances since December 31, 2024. Non-performing assets increased since December 31, 2024 by $1.3 million and totaled $15.0 million.  This increase occurred due to the transfer of a $3.3 million CRE loan into non-accrual status which more than offset the sale of a $1.5 million other real estate owned (OREO) property and a $300,000 reduction in non-accrual residential mortgage loans.  Non-performing loans represented 1.29% of total loans.  The Company recognized net loan charge-offs of $64,000, or 0.02% of total average loans, in the first quarter of 2025 compared to net loan charge-offs of $121,000, or 0.05% of total average loans, in the first quarter of 2024.  Overall, the Company continues to maintain solid coverage of both total loans and non-performing loans as the allowance for loan credit losses provided 101% coverage of non-performing loans and 1.30% of total loans at March 31, 2025. Total non-interest income in the first quarter of 2025 decreased by $826,000, or 16.7%, from the prior year's first quarter.  The decrease was due to lower levels of wealth management fees by $402,000, or 12.3%, other income by $322,000, or 31.8%, and bank owned life insurance (BOLI) by $73,000, or 21.7%.  The decrease in wealth management fees is attributed to the volatility and uncertainty that exists in the financial markets due to government fiscal policy.  As a result, market conditions, particularly for equity securities have been unfavorably impacted as major market indexes have fallen and caused wealth management fees to decline. Additionally, the Financial Services division benefitted from several large new business cases in the first quarter of 2024. Overall, the fair market value of wealth management assets totaled $2.5 billion at March 31, 2025 and decreased by $72.2 million, or 2.8%, since December 31, 2024. The decrease in other income results from the net impact of several items that include: (1) The necessary adjustments to the fair market value of an interest rate swap-related risk participation agreement as well as the credit valuation of the market value of the interest rate swap contracts that the Company executed to accommodate the needs of certain borrowers while managing our interest rate risk position.  These adjustments reflect the changing national interest rates and are lower by $250,000 in comparison to the first quarter of last year. (2) In the first quarter of 2024, the Company recognized a $250,000 signing bonus from the renewal of a contract with Visa while there was no such bonus in 2025. (3) The Bank recognized a $149,000 loss on the sale of an OREO property in January 2025. (4) Finally, and partially offsetting these unfavorable items, the Company recognized a $254,000 gain from the sale of the real estate of a former branch office in 2025. The decrease to BOLI revenue resulted from the bank receiving a larger death claim in the first quarter of 2024. Total non-interest expense in the first quarter of 2025 decreased by $101,000, or 0.9%, when compared to the first quarter of 2024.  Professional fees decreased by $317,000, or 31.6%, as first quarter 2024 legal and professional services costs were unfavorably impacted by litigation and responses to the actions of an activist investor.  This matter was resolved in June 2024 as a result of a Cooperation and Settlement Agreement. Professional fees were also favorably impacted by reduced recruitment costs in the first quarter of 2025.  Other items favorably impacting total non-interest expense were lower other expenses by $22,000, or 1.9%, and lower FDIC deposit insurance expense by $15,000, or 5.9%.  Partially offsetting these favorable items was higher salaries & employee benefits by $106,000, or 1.5%.  Within this broad category, health care costs are $333,000 higher as the Company did not have to recognize any premium costs in January 2024 due to the effective negotiations with our health care provider last year. Total salaries cost increased by $113,000, or 2.3%, due to annual salary merit increases.  Partially offsetting these higher costs within total salaries & employee benefits were reduced levels of incentive compensation by $293,000, largely in the Wealth Management division.  Also, a greater benefit was recognized in the pension expense line item by $63,000, due to the impact of retired employees opting to take a lump sum payment as opposed to receiving a monthly annuity and, therefore, leaving the defined pension benefit plan. Finally, data processing and IT expenses increased by $93,000, or 8.0%, in the first quarter of 2025 due to additional expenses related to monitoring our computing and network environment. The Company recorded income tax expense of $478,000 in the first quarter of 2025, or an effective tax rate of 20.0%, which compares to income tax expense of $483,000, or an effective tax rate of 20.2%, in the first quarter 2024. The Company had total assets of $1.4 billion, shareholders' equity of $110.8 million, a book value of $6.70 per common share and a tangible book value of $5.88(1) per common share on March 31, 2025.  Book value per common share increased by $0.64, or 10.6%, and tangible book value per common share increased by $0.62, or 11.8%, since March 31, 2024, due to a favorable adjustment for both the unrealized loss on available for sale securities and the Company's defined benefit pension plan along with the accretive repurchase of 628,003 shares of common stock in June 2024. The Company continued to maintain strong capital ratios that exceed the regulatory defined well capitalized status as of March 31, 2025. QUARTERLY COMMON STOCK DIVIDEND The Company's Board of Directors declared a $0.03 per share quarterly common stock cash dividend. The cash dividend is payable May 19, 2025, to shareholders of record on May 5, 2025. This cash dividend represents a 5.1% annualized yield using the April 17, 2025 closing stock price of $2.35 and a 25% payout ratio based upon 2025 first quarter earnings. Forward-Looking Statements This press release contains forward-looking statements as defined in the Securities Exchange Act of 1934 and is subject to the safe harbors created therein. Such statements are not historical facts and include expressions about management's confidence and strategies and management's current views and expectations about new and existing programs and products, relationships, opportunities, technology, market conditions, dividend program, and future payment obligations. These statements may be identified by such forward-looking terminology as "continuing," "expect," "look," "believe," "anticipate," "may," "will," "should," "projects," "strategy," or similar statements. Actual results may differ materially from such forward-looking statements, and no reliance should be placed on any forward-looking statement. Factors that may cause results to differ materially from such forward-looking statements include, but are not limited to, changes in the financial markets, the level of inflation, and the direction of interest rates; volatility in earnings due to certain financial assets and liabilities held at fair value; competition levels; loan and investment prepayments differing from our assumptions; insufficient allowance for credit losses; a higher level of loan charge-offs and delinquencies than anticipated; material adverse changes in our operations or earnings; a decline in the economy in our market areas; changes in relationships with major customers; changes in effective income tax rates; higher or lower cash flow levels than anticipated; inability to hire or retain qualified employees; a decline in the levels of deposits or loss of alternate funding sources; a decrease in loan origination volume or an inability to close loans currently in the pipeline; changes in laws and regulations; adoption, interpretation and implementation of accounting pronouncements; operational risks, including the risk of fraud by employees, customers or outsiders; unanticipated effects to our banking platform; and the inability to successfully implement or expand new lines of business or new products and services.  These forward-looking statements involve risks and uncertainties that could cause AmeriServ's results to differ materially from management's current expectations. Such risks and uncertainties are detailed in AmeriServ's filings with the Securities and Exchange Commission, including our Annual Report on Form 10-K for the year ended December 31, 2024. Forward-looking statements are based on the beliefs and assumptions of AmeriServ's management and on currently available information. The statements in this press release are made as of the date of this press release, even if subsequently made available by AmeriServ on its website or otherwise. AmeriServ undertakes no responsibility to publicly update or revise any forward-looking statement.                     View original content to download multimedia:https://www.prnewswire.com/news-releases/ameriserv-financial-reports-earnings-for-the-first-quarter-of-2025-and-announces-quarterly-common-stock-cash-dividend-302433684.html SOURCE AmeriServ Financial, Inc.