AmeriServ Financial

AmeriServ Financial, Inc. is a bank holding company based in Johnstown, Pennsylvania. It operates AmeriServ Financial Bank, AmeriServ Trust and Financial Services Company, and AmeriServ Life Insurance Company. The bank operates 18 automated teller machines.[1]

AmeriServ Financial, Inc.
TypePublic company
NASDAQ: ASRV
Russell Microcap Index component
IndustryBanking
Founded1983 (1983)
HeadquartersJohnstown, Pennsylvania
Key people
Craig G. Ford, Chairman
Jeffrey A. Stopko, CEO & President
Michael D. Lynch, CFO
Robert Werner, Senior Vice President & CIO
Total assets $1.167 billion (2017)
Total equity $0.095 billion (2017)
Number of employees
305 (2017)
Websitewww.ameriserv.com
Footnotes / references
[1]
AmeriServ branch footprint in southwest Pennsylvania.
2008 photo of Ameriserv Financial headquarters building in Johnstown, Pennsylvania on the corner of Main and Franklin Streets.

Since 1996, the company has been the main sponsor of the Flood City Music Festival in Johnstown, Pennsylvania.

History

In January 1983, USBANCORP, INC. was formed as a bank holding company.[1][2]

In October 1987, AmeriServ Life Insurance Company was formed.[1]

In October 1992, AmeriServ Trust and Financial Services Company was formed.[1]

In May 2001, the company changed its name to AmeriServ Financial, Inc.[2][3]

In March 2007, the company acquired West Chester Capital Advisors.[4]

In 2009, the company sold its corporate trust bond administration business to U.S. Bancorp.[5]

In August 2011, the company received $21 million from the Small Business Lending Fund, which it used to repay the $21 million investment it received from the United States Department of the Treasury as part of the Troubled Asset Relief Program.[6]

In March 2015, Jeffrey A. Stopko was promoted to chief executive officer of the company.[7]

References
  1. "AmeriServ Financial, Inc. 2017 Form 10-K Annual Report". U.S. Securities and Exchange Commission.
  2. "Institution History for AMERISERV FINANCIAL, INC (1117316)". Federal Financial Institutions Examination Council.
  3. "USBANCORP changes name to AmeriServ Financial". American City Business Journals. April 24, 2001.
  4. "West Chester Capital sold". American City Business Journals. March 7, 2007.
  5. "U.S. Bank to Acquire AmeriServ's Corporate Trust Bond Administration Business" (Press release). Business Wire. April 8, 2009.
  6. Davis, Paul (August 12, 2011). "Two More Banks Exit Tarp Using Small Business Lending Fund". American Banker.(subscription required)
  7. "AmeriServ Financial Inc. Appoints Senior Leadership Team" (Press release). PR Newswire. March 24, 2015.
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