JOHNSTOWN, Pa., July 14, 2015 /PRNewswire/ -- AmeriServ
Financial, Inc. (NASDAQ: ASRV) continued its positive earnings
momentum in the second quarter of 2015 by reporting net income
available to common shareholders of $1,369,000, or $0.07 per diluted common share. This
represented a 40% increase in earnings per share from the second
quarter of 2014 where net income available to common shareholders
totaled $927,000, or $0.05 per diluted common share. For the six
month period ended June 30, 2015, the
Company reported net income available to common shareholders of
$2,685,000, or $0.14 per diluted share. This also
represented a 40% increase in earnings per share from the first
half of 2014 where net income available to common shareholders
totaled $1,804,000, or $0.10 per diluted common share. The
following table highlights the Company's financial performance for
both the three and six month periods ended June 30, 2015 and 2014:
|
Second Quarter
2015
|
Second Quarter
2014
|
|
Six Months
Ended
June 30,
2015
|
Six Months
Ended
June 30,
2014
|
|
|
|
|
|
|
Net income
|
$1,421,000
|
$979,000
|
|
$2,790,000
|
$1,909,000
|
Net income available
to common shareholders
|
$1,369,000
|
$927,000
|
|
$2,685,000
|
$1,804,000
|
Diluted earnings per
share
|
$ 0.07
|
$ 0.05
|
|
$ 0.14
|
$0.10
|
Jeffrey A. Stopko, President and
Chief Executive Officer, commented on the period ended June 30, 2015 financial results: "Our disciplined
focus on executing our business plans to increase revenues and
reduce non-interest expense again resulted in improved
profitability in the second quarter of 2015. The growth in
net interest income continues to be driven by solid loan growth and
effective cost of funds management while the increase in
non-interest income reflects the important and growing contribution
of our trust and wealth management business to the Company's total
revenue. Additionally, I am pleased that all areas of the
Company continue to understand the importance of improving our
efficiency as total non-interest expense declined by $709,000, or 3.3% in the first six months of
2015. We are well positioned to continue these positive
earnings trends in the second half of 2015 with our excellent asset
quality and strong capital position."
The Company's net interest income in the second quarter of 2015
increased by $416,000, or 5.0%, from
the prior year's second quarter and for the first six months of
2015 increased by $825,000, or 4.9%,
when compared to the first six months of 2014. The Company's
net interest margin of 3.51% for the first six months of 2015 was
only one basis point lower than the net interest margin of 3.52%
for the first half of 2014. There was a similar modest net
interest margin decline of two basis points when the second quarter
of 2015 is compared to the prior year second quarter. The
Company has been able to increase net interest income given the
modest decline in its net interest margin by both growing its
earning assets and controlling its cost of funds through
disciplined deposit pricing. Specifically, the earning asset
growth has occurred in the loan portfolio as total loans averaged
$849 million in the first half of
2015 which is $58 million, or 7.4%,
higher than the $791 million average
for the first half of 2014. This loan growth reflects the
successful results of the Company's sales calling efforts, with an
emphasis on generating commercial loans and owner occupied
commercial real estate loans particularly through its loan
production offices. Interest income in 2015 has also
benefitted from an increased dividend from the FHLB of
Pittsburgh. Overall, total interest income has increased by
$854,000, or 4.3%, in the first half
of 2015. Total interest expense for the first half of 2015
has been well controlled as it increased by only $29,000, or 0.9%, due to the Company's proactive
efforts to reduce deposit costs. Total deposit interest
expense decreased by $106,000, or
4.3%, in the first six months of 2015 from the same timeframe in
2014. Even with this reduction in deposit costs, the Company
continues to have a strong loyal core deposit base and success in
cross-selling new loan customers into deposit products.
Specifically, total deposits averaged $894
million for the first half of 2015 which is $27 million, or 3.2%, higher than the
$866 million average for the first
half of 2014. The Company is pleased that a meaningful
portion of this deposit growth occurred in non-interest bearing
demand deposit accounts. This decreased interest expense for
deposits has been offset by a $135,000 increase in the interest cost for
borrowings as the Company has utilized more FHLB term advances to
extend borrowings and provide protection against rising interest
rates.
The Company recorded a $200,000
provision for loan losses in the second quarter of 2015 compared to
no provision for loan losses in the second quarter of 2014.
For the six month period in 2015, the Company recorded a
$450,000 provision for loan losses
compared to no provision for loan losses in the first six months of
2014. The provision recorded in 2015 was needed to support
the continuing growth of the loan portfolio and cover net loan
charge-offs. The Company experienced net loan charge-offs of
$172,000, or 0.08%, of total loans in
the second quarter of 2015 and recognized a net loan recovery of
$40,000 in the second quarter of
2014. For the six month periods, there were net loan
charge-offs of $356,000, or 0.08%, of
total loans in first half of 2015 compared to net loan recoveries
of $46,000 in 2014. Overall,
the Company continued to maintain outstanding asset quality in the
first half of 2015. At June 30,
2015, non-performing assets totaled $2.6 million, or only 0.30% of total loans, and
is $1.9 million lower than the
June 30, 2014 level. When
determining the provision for loan losses, the Company considers a
number of factors, some of which include periodic credit reviews,
non-performing assets, loan delinquency and charge-off trends,
concentrations of credit, loan volume trends and broader local and
national economic trends. In summary, the allowance for loan
losses provided a strong 399% coverage of non-performing loans, and
1.13% of total loans, at June 30,
2015, compared to 400% coverage of non-performing loans, and
1.16% of total loans, at December 31,
2014.
Total non-interest income in the second quarter of 2015
increased by $54,000, or 1.5%, from
the prior year's second quarter and for the first six months of
2015 increased by $234,000, or 3.3%,
when compared to the first six months of 2014. Increased
revenue from trust and investment advisory fees and mortgage loan
sales were two factors contributing to both the quarterly and six
month non-interest income increase. Specifically, trust and
investment advisory fees increased by $187,000, or 9.6%, for the quarter and
$211,000, or 5.3%, for the six month
period due to increased assets under management which reflects
successful new business development activities, as well as due to
market forces and effective management of customer accounts.
Gains realized on residential mortgage loan sales into the
secondary market increased by $54,000
for the quarter and $144,000 for the
six month period due to both increased purchase and refinance
activity in 2015. Revenue from bank owned life insurance also
increased by $162,000 for the six
month period due to the receipt of a death claim in the first
quarter of 2015. These increases were partially offset by a
reduction in deposit service charges of $72,000 for the quarter and $131,000 for the six month period due to fewer
overdraft fees. Additionally, gains realized on investment
security transactions declined by $92,000 for the quarter and $149,000 for the six month period as the Company
executed fewer security sale transactions in the first half of
2015.
Total non-interest expense in the second quarter of 2015
decreased by $381,000, or 3.6%, from
the prior year's second quarter and for the first six months of
2015 decreased by $709,000, or 3.3%,
when compared to the first six months of 2014. Salaries and
employee benefits were down by $163,000, or 2.7%, in the second quarter and by
$404,000, or 3.3%, in the first half
of 2015, due to 27 fewer full time equivalent employees as certain
employees who elected to participate in an early retirement program
in late 2014 were not replaced in order to achieve efficiencies
identified as part of a profitability improvement program.
Professional fees declined by $189,000 in the second quarter of 2015 and by
$286,000 in the first six month
period due to lower legal fees, director's fees and recruitment
costs in the first half of 2015. The remainder of the key
non-interest expense categories were relatively consistent between
years reflecting the Company's focus on reducing and controlling
costs. Finally, the Company recorded an income tax expense of
$1,249,000, or an effective tax rate
of 30.9%, in the first six months of 2015 which is higher when
compared to the income tax expense of $812,000, or an effective tax rate of 29.8%, for
the first six months of 2014. The higher income tax expense
and effective tax rate is due to the Company's increased earnings
in the first half of 2015.
The Company had total assets of $1.1
billion, shareholders' equity of $117
million, a book value of $5.11
per common share and a tangible book value of $4.47 per common share at June 30, 2015. The Company continued to
maintain strong capital ratios that exceed the regulatory defined
well capitalized status and had a tangible common equity to
tangible assets ratio of 7.66% at June
30, 2015.
This news release may contain forward-looking statements that
involve risks and uncertainties, as defined in the Private
Securities Litigation Reform Act of 1995, including the risks
detailed in the Company's Annual Report and Form 10-K to the
Securities and Exchange Commission. Actual results may differ
materially.
|
|
NASDAQ:
ASRV
|
|
SUPPLEMENTAL
FINANCIAL PERFORMANCE DATA
|
|
|
|
June 30,
2015
|
|
|
|
(Dollars in
thousands, except per share and ratio data)
|
|
|
|
(Unaudited)
|
|
|
|
|
|
|
|
|
2015
|
|
|
|
|
1QTR
|
2QTR
|
YEAR
|
|
|
|
|
TO DATE
|
PERFORMANCE DATA FOR
THE PERIOD:
|
|
|
|
|
Net
income
|
|
1,369
|
1,421
|
2,790
|
Net income available
to common shareholders
|
|
1,316
|
1,369
|
2,685
|
|
|
|
|
|
PERFORMANCE
PERCENTAGES (annualized):
|
|
|
|
|
Return on average
assets
|
|
0.51%
|
0.52%
|
0.51%
|
Return on average
equity
|
|
4.80
|
4.88
|
4.84
|
Net interest
margin
|
|
3.57
|
3.45
|
3.51
|
Net charge-offs as a
percentage of average loans
|
|
0.09
|
0.08
|
0.08
|
Loan loss provision
as a percentage of average loans
|
|
0.12
|
0.09
|
0.11
|
Efficiency
ratio
|
|
82.29
|
81.93
|
82.11
|
|
|
|
|
|
PER COMMON
SHARE:
|
|
|
|
|
Net
income:
|
|
|
|
|
Basic
|
|
0.07
|
0.07
|
0.14
|
Average number of
common shares outstanding
|
|
18,851
|
18,859
|
18,855
|
Diluted
|
|
0.07
|
0.07
|
0.14
|
Average number of
common shares outstanding
|
|
18,909
|
18,941
|
18,923
|
Cash dividends
declared
|
|
0.01
|
0.01
|
0.02
|
|
|
|
|
|
|
|
2014
|
|
|
|
|
1QTR
|
2QTR
|
YEAR
|
|
|
|
|
TO DATE
|
PERFORMANCE DATA FOR
THE PERIOD:
|
|
|
|
|
Net
income
|
|
930
|
979
|
1,909
|
Net income available
to common shareholders
|
|
877
|
927
|
1,804
|
|
|
|
|
|
PERFORMANCE
PERCENTAGES (annualized):
|
|
|
|
|
Return on average
assets
|
|
0.36%
|
0.37%
|
0.37%
|
Return on average
equity
|
|
3.30
|
3.41
|
3.35
|
Net interest
margin
|
|
3.56
|
3.47
|
3.52
|
Net charge-offs
(recoveries) as a percentage of average loans
|
-
|
(0.02)
|
(0.01)
|
Loan loss provision
as a percentage of average loans
|
|
-
|
-
|
-
|
Efficiency
ratio
|
|
89.02
|
88.29
|
88.66
|
|
|
|
|
|
PER COMMON
SHARE:
|
|
|
|
|
Net
income:
|
|
|
|
|
Basic
|
|
0.05
|
0.05
|
0.10
|
Average number of
common shares outstanding
|
|
18,786
|
18,795
|
18,790
|
Diluted
|
|
0.05
|
0.05
|
0.10
|
Average number of
common shares outstanding
|
|
18,904
|
18,936
|
18,920
|
Cash dividends
declared
|
|
0.01
|
0.01
|
0.02
|
|
|
|
AMERISERV FINANCIAL,
INC.
|
|
|
|
(Dollars in
thousands, except per share, statistical, and ratio
data)
|
|
|
|
(Unaudited)
|
|
|
|
|
|
|
|
|
|
|
2015
|
|
|
|
|
|
1QTR
|
2QTR
|
|
|
FINANCIAL CONDITION
DATA AT PERIOD END:
|
|
|
|
|
Assets
|
|
1,103,416
|
1,112,934
|
|
|
Short-term
investments/overnight funds
|
|
10,127
|
9,843
|
|
|
Investment
securities
|
|
142,010
|
142,448
|
|
|
Loans and loans held
for sale
|
|
853,972
|
866,243
|
|
|
Allowance for loan
losses
|
|
9,689
|
9,717
|
|
|
Goodwill
|
|
11,944
|
11,944
|
|
|
Deposits
|
|
892,676
|
862,902
|
|
|
FHLB
borrowings
|
|
71,219
|
109,430
|
|
|
Shareholders'
equity
|
|
116,328
|
117,305
|
|
|
Non-performing
assets
|
|
3,046
|
2,565
|
|
|
Tangible common
equity ratio
|
|
7.64
|
7.66
|
|
|
PER COMMON
SHARE:
|
|
|
|
|
|
Book value
(A)
|
|
5.06
|
5.11
|
|
|
Tangible book value
(A)
|
|
4.42
|
4.47
|
|
|
Market
value
|
|
2.98
|
3.33
|
|
|
Trust assets - fair
market value (B)
|
|
1,932,894
|
1,909,358
|
|
|
|
|
|
|
|
|
STATISTICAL DATA AT
PERIOD END:
|
|
|
|
|
|
Full-time equivalent
employees
|
|
318
|
318
|
|
|
Branch
locations
|
|
17
|
17
|
|
|
Common shares
outstanding
|
|
18,855,021
|
18,861,811
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2014
|
|
|
|
|
|
1QTR
|
2QTR
|
3QTR
|
4QTR
|
FINANCIAL CONDITION
DATA AT PERIOD END:
|
|
|
|
|
Assets
|
|
1,051,108
|
1,063,717
|
1,070,431
|
1,089,263
|
Short-term
investments/overnight funds
|
|
9,019
|
8,013
|
6,662
|
9,092
|
Investment
securities
|
|
154,754
|
153,603
|
150,471
|
146,950
|
Loans and loans held
for sale
|
|
789,620
|
804,675
|
817,887
|
832,131
|
Allowance for loan
losses
|
|
10,109
|
10,150
|
9,582
|
9,623
|
Goodwill
|
|
12,613
|
12,613
|
11,944
|
11,944
|
Deposits
|
|
875,333
|
873,908
|
872,170
|
869,881
|
FHLB
borrowings
|
|
40,483
|
52,677
|
63,438
|
80,880
|
Shareholders'
equity
|
|
114,590
|
115,946
|
116,146
|
114,407
|
Non-performing
assets
|
|
3,274
|
4,469
|
3,897
|
2,917
|
Tangible common
equity ratio
|
|
7.80
|
7.83
|
7.86
|
7.56
|
PER COMMON
SHARE:
|
|
|
|
|
|
Book value
(A)
|
|
4.97
|
5.05
|
5.06
|
4.97
|
Tangible book value
(A)
|
|
4.31
|
4.38
|
4.43
|
4.33
|
Market
value
|
|
3.85
|
3.48
|
3.30
|
3.13
|
Trust assets - fair
market value (B)
|
|
1,693,663
|
1,778,522
|
1,774,988
|
1,784,278
|
|
|
|
|
|
|
STATISTICAL DATA AT
PERIOD END:
|
|
|
|
|
|
Full-time equivalent
employees
|
|
347
|
345
|
341
|
314
|
Branch
locations
|
|
18
|
17
|
17
|
17
|
Common shares
outstanding
|
|
18,793,388
|
18,794,888
|
18,794,888
|
18,794,888
|
|
|
|
|
|
|
Note:
|
|
|
|
|
|
(A) Preferred
stock of $21 million received through the Small Business Lending
Fund is excluded from the book value per common share and tangible
book value per common share calculations.
|
(B) Not
recognized on the consolidated balance sheets.
|
|
|
|
|
|
AMERISERV FINANCIAL, INC.
|
|
|
CONSOLIDATED STATEMENT OF INCOME
|
|
|
(Dollars in thousands)
|
|
|
|
(Unaudited)
|
|
|
|
|
|
|
|
|
2015
|
|
|
|
|
1QTR
|
2QTR
|
YEAR
|
|
|
|
|
TO DATE
|
INTEREST
INCOME
|
|
|
|
|
|
|
|
|
|
Interest and fees on
loans
|
|
9,456
|
9,480
|
18,936
|
Interest on
investments
|
|
1,067
|
929
|
1,996
|
Total Interest
Income
|
|
10,523
|
10,409
|
20,932
|
|
|
|
|
|
INTEREST
EXPENSE
|
|
|
|
|
Deposits
|
|
1,174
|
1,171
|
2,345
|
All
borrowings
|
|
415
|
438
|
853
|
Total Interest
Expense
|
|
1,589
|
1,609
|
3,198
|
|
|
|
|
|
NET INTEREST
INCOME
|
|
8,934
|
8,800
|
17,734
|
Provision for loan
losses
|
|
250
|
200
|
450
|
|
|
|
|
|
NET INTEREST INCOME
AFTER PROVISION
|
|
|
|
|
FOR LOAN
LOSSES
|
|
8,684
|
8,600
|
17,284
|
|
|
|
|
|
NON-INTEREST
INCOME
|
|
|
|
|
Trust and investment
advisory fees
|
|
2,056
|
2,135
|
4,191
|
Service charges on
deposit accounts
|
|
419
|
429
|
848
|
Net realized gains on
loans held for sale
|
|
191
|
225
|
416
|
Mortgage related
fees
|
|
115
|
109
|
224
|
Net realized gains on
investment securities
|
|
-
|
28
|
28
|
Bank owned life
insurance
|
|
363
|
171
|
534
|
Other
income
|
|
568
|
595
|
1,163
|
Total Non-Interest
Income
|
|
3,712
|
3,692
|
7,404
|
|
|
|
|
|
NON-INTEREST
EXPENSE
|
|
|
|
|
Salaries and employee
benefits
|
|
6,073
|
5,944
|
12,017
|
Net occupancy
expense
|
|
841
|
718
|
1,559
|
Equipment
expense
|
|
466
|
480
|
946
|
Professional
fees
|
|
1,211
|
1,275
|
2,486
|
FDIC deposit
insurance expense
|
|
167
|
164
|
331
|
Other
expenses
|
|
1,652
|
1,658
|
3,310
|
Total Non-Interest
Expense
|
|
10,410
|
10,239
|
20,649
|
|
|
|
|
|
PRETAX
INCOME
|
|
1,986
|
2,053
|
4,039
|
Income tax
expense
|
|
617
|
632
|
1,249
|
NET
INCOME
|
|
1,369
|
1,421
|
2,790
|
Preferred stock
dividends
|
|
53
|
52
|
105
|
NET INCOME AVAILABLE
TO COMMON SHAREHOLDERS
|
1,316
|
1,369
|
2,685
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2014
|
|
|
|
|
1QTR
|
2QTR
|
YEAR
|
|
|
|
|
TO DATE
|
INTEREST
INCOME
|
|
|
|
|
|
|
|
|
|
Interest and fees on
loans
|
|
9,032
|
8,939
|
17,971
|
Interest on
investments
|
|
1,063
|
1,044
|
2,107
|
Total Interest
Income
|
|
10,095
|
9,983
|
20,078
|
|
|
|
|
|
INTEREST
EXPENSE
|
|
|
|
|
Deposits
|
|
1,211
|
1,240
|
2,451
|
All
borrowings
|
|
359
|
359
|
718
|
Total Interest
Expense
|
|
1,570
|
1,599
|
3,169
|
|
|
|
|
|
NET INTEREST
INCOME
|
|
8,525
|
8,384
|
16,909
|
Provision for loan
losses
|
|
-
|
-
|
-
|
|
|
|
|
|
NET INTEREST INCOME
AFTER PROVISION
|
|
|
|
|
FOR LOAN
LOSSES
|
|
8,525
|
8,384
|
16,909
|
|
|
|
|
|
NON-INTEREST
INCOME
|
|
|
|
|
Trust and investment
advisory fees
|
|
2,032
|
1,948
|
3,980
|
Service charges on
deposit accounts
|
|
478
|
501
|
979
|
Net realized gains on
loans held for sale
|
|
101
|
171
|
272
|
Mortgage related
fees
|
|
117
|
160
|
277
|
Net realized gains on
investment securities
|
|
57
|
120
|
177
|
Bank owned life
insurance
|
|
187
|
185
|
372
|
Other
income
|
|
560
|
553
|
1,113
|
Total Non-Interest
Income
|
|
3,532
|
3,638
|
7,170
|
|
|
|
|
|
NON-INTEREST
EXPENSE
|
|
|
|
|
Salaries and employee
benefits
|
|
6,314
|
6,107
|
12,421
|
Net occupancy
expense
|
|
839
|
717
|
1,556
|
Equipment
expense
|
|
470
|
494
|
964
|
Professional
fees
|
|
1,308
|
1,464
|
2,772
|
FDIC deposit
insurance expense
|
|
160
|
154
|
314
|
Other
expenses
|
|
1,647
|
1,684
|
3,331
|
Total Non-Interest
Expense
|
|
10,738
|
10,620
|
21,358
|
|
|
|
|
|
PRETAX
INCOME
|
|
1,319
|
1,402
|
2,721
|
Income tax
expense
|
|
389
|
423
|
812
|
NET
INCOME
|
|
930
|
979
|
1,909
|
Preferred stock
dividends
|
|
53
|
52
|
105
|
NET INCOME AVAILABLE
TO COMMON SHAREHOLDERS
|
877
|
927
|
1,804
|
|
|
AMERISERV FINANCIAL, INC.
|
|
|
|
AVERAGE BALANCE SHEET DATA
|
|
|
|
(Dollars in thousands)
|
|
|
|
|
(Unaudited)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2015
|
|
|
2014
|
|
|
|
|
SIX
|
|
|
SIX
|
|
|
2QTR
|
MONTHS
|
|
2QTR
|
MONTHS
|
|
|
|
|
|
|
|
Interest earning
assets:
|
|
|
|
|
|
|
Loans and loans held
for sale, net of unearned income
|
857,294
|
849,453
|
|
795,233
|
791,270
|
Deposits with
banks
|
|
9,108
|
10,593
|
|
7,512
|
6,749
|
Short-term investment
in money market funds
|
|
1,235
|
1,235
|
|
2,296
|
3,231
|
Total investment
securities
|
|
146,434
|
147,043
|
|
157,348
|
160,069
|
Total interest
earning assets
|
|
1,014,071
|
1,008,324
|
|
962,389
|
961,319
|
|
|
|
|
|
|
|
Non-interest earning
assets:
|
|
|
|
|
|
|
Cash and due from
banks
|
|
18,067
|
17,680
|
|
15,267
|
15,618
|
Premises and
equipment
|
|
12,725
|
12,839
|
|
13,194
|
13,171
|
Other
assets
|
|
69,880
|
70,091
|
|
69,538
|
69,689
|
Allowance for loan
losses
|
|
(9,744)
|
(9,709)
|
|
(10,122)
|
(10,132)
|
|
|
|
|
|
|
|
Total
assets
|
|
1,104,999
|
1,099,225
|
|
1,050,266
|
1,049,665
|
|
|
|
|
|
|
|
Interest bearing
liabilities:
|
|
|
|
|
|
|
Interest bearing
deposits:
|
|
|
|
|
|
|
Interest bearing
demand
|
|
101,586
|
97,256
|
|
100,249
|
91,433
|
Savings
|
|
96,694
|
94,592
|
|
89,871
|
89,202
|
Money
market
|
|
231,814
|
232,178
|
|
229,626
|
229,170
|
Other time
|
|
291,270
|
298,660
|
|
304,022
|
303,583
|
Total interest
bearing deposits
|
|
721,364
|
722,686
|
|
723,768
|
713,388
|
Borrowings:
|
|
|
|
|
|
|
Federal funds
purchased and other short-term borrowings
|
27,771
|
20,628
|
|
7,249
|
18,441
|
Advances from Federal
Home Loan Bank
|
|
45,933
|
44,757
|
|
30,378
|
28,544
|
Guaranteed junior
subordinated deferrable interest debentures
|
13,085
|
13,085
|
|
13,085
|
13,085
|
Total interest
bearing liabilities
|
|
808,153
|
801,156
|
|
774,480
|
773,458
|
|
|
|
|
|
|
|
Non-interest bearing
liabilities:
|
|
|
|
|
|
|
Demand
deposits
|
|
169,250
|
170,904
|
|
152,976
|
152,894
|
Other
liabilities
|
|
10,741
|
10,897
|
|
7,582
|
8,519
|
Shareholders'
equity
|
|
116,855
|
116,268
|
|
115,228
|
114,794
|
Total liabilities and
shareholders' equity
|
|
1,104,999
|
1,099,225
|
|
1,050,266
|
1,049,665
|
|
|
|
|
|
|
|
To view the original version on PR Newswire,
visit:http://www.prnewswire.com/news-releases/ameriserv-financial-reports-increased-earnings-for-the-second-quarter-and-first-six-months-of-2015-300112838.html
SOURCE AmeriServ Financial, Inc.