AMERISERV FINANCIAL INC /PA/ ASRV
AmeriServ Financial, Inc. (the Company) is a bank holding company organized under the Pennsylvania Business Corporation Law. The Company became a holding company upon acquiring all of the outstanding shares of AmeriServ Financial Bank (the Bank) in January 1983. When used in this report, the "Company" may refer, depending on the context, to AmeriServ Financial, Inc. individually or AmeriServ Financial, Inc. and its direct subsidiary.
The Company's principal activities consist of owning and operating its wholly owned subsidiary entity. At December 31, 2025, the Company had, on a consolidated basis, total assets, deposits, and shareholders' equity of $1.5 billion, $1.2 billion, and $119.3 million, respectively. The Company and its subsidiary derive substantially all of their income from banking, bank related services, and trust and wealth management related services. The Company functions primarily as a coordinating and servicing unit for its subsidiary entity in general management, accounting and taxes, loan review, internal audit, investment accounting, marketing and risk management.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $14.6M | $15.6M | $14.5M | $14.7M | $15.0M | $12.8M | $12.8M | $12.8M | $44.4M | $41.9M |
| Interest expense | $29.1M | $30.5M | $24.8M | $8.5M | $7.6M | $10.5M | $14.3M | $11.6M | $8.8M | $7.7M |
| Pre-tax income | $6.8M | $4.4M | -$4.4M | $9.2M | $8.8M | $5.8M | $7.6M | $9.4M | $8.7M | $3.2M |
| Income tax | $1.2M | $798.0K | $1.0M | $1.8M | $1.7M | $1.2M | $1.6M | $1.7M | $5.4M | $897.0K |
| Net income | $5.6M | $3.6M | -$3.3M | $7.4M | $7.1M | $4.6M | $6.0M | $7.8M | $3.3M | $2.3M |
| EPS, basic | 0.34 | 0.21 | -0.20 | 0.44 | 0.41 | 0.27 | 0.35 | 0.43 | 0.18 | 0.12 |
| EPS, diluted | 0.34 | 0.21 | -0.20 | 0.43 | 0.41 | 0.27 | 0.35 | 0.43 | 0.18 | 0.12 |
| Shares, diluted (wtd. avg.) | $16.5M | $16.8M | $17.1M | $17.1M | $17.1M | $17.1M | $17.4M | $18.0M | $18.6M | $19.0M |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $50.9M | $17.7M | $14.0M | $23.0M | $41.1M | $31.5M | $22.2M | $34.9M | $34.2M | $34.1M |
| Property, plant and equipment | $13.9M | $14.2M | $14.1M | $14.5M | $14.1M | $14.3M | $14.6M | $13.3M | $12.7M | $11.7M |
| Goodwill | $13.6M | $13.6M | $13.6M | $13.6M | $13.6M | $11.9M | $11.9M | $11.9M | $11.9M | $11.9M |
| Other intangibles | $56.0K | $77.0K | $101.0K | $128.0K | — | — | — | — | — | — |
| Total assets | $1.45B | $1.42B | $1.39B | $1.36B | $1.34B | $1.28B | $1.17B | $1.16B | $1.17B | $1.15B |
| Short-term debt | — | $14.6M | $41.0M | $88.6M | — | $24.7M | $22.4M | $41.0M | $49.1M | — |
| Total liabilities | $1.33B | $1.32B | $1.29B | $1.26B | $1.22B | $1.18B | $1.07B | $1.06B | $1.07B | $1.06B |
| Retained earnings | $64.1M | $60.5M | $58.9M | $65.5M | $60.0M | $54.6M | $51.8M | $46.7M | $40.3M | $36.0M |
| Total equity | $119.3M | $107.2M | $102.3M | $106.2M | $116.5M | $104.4M | $98.6M | $98.0M | $95.1M | $95.4M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $3.2M | $2.7M | $6.3M | $5.2M | $9.9M | -$1.4M | $4.9M | $8.0M | $7.5M | $6.6M |
| Depreciation and amortisation | $1.7M | $1.7M | $1.7M | $1.7M | $1.7M | $1.6M | $1.5M | $1.5M | $1.7M | $1.8M |
| Stock-based compensation | — | $8.0K | $45.0K | $50.0K | $43.0K | $3.0K | $7.0K | $14.0K | $13.0K | $20.0K |
| Investing cash flow | $11.1M | -$23.1M | -$40.0M | -$56.3M | -$488.0K | -$95.3M | -$13.0M | $2.7M | -$20.2M | -$25.2M |
| Financing cash flow | $18.9M | $24.1M | $24.8M | $32.9M | $146.0K | $106.0M | -$4.6M | -$10.0M | $12.8M | $4.2M |
| Dividends paid | $2.0M | $2.0M | $2.1M | $2.0M | $1.7M | $1.7M | $1.6M | $1.3M | $1.1M | $945.0K |
| Buybacks | — | $1.5M | — | — | — | — | — | — | — | — |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001140361-26-024337.
Others in SIC 6021
| Ticker | Company | Market cap | P/E | Revenue growth |
|---|---|---|---|---|
| JPM | JPMORGAN CHASE & CO | $953.33B | 17.9x | 2.8% |
| BAC | BANK OF AMERICA CORP /DE/ | $438.31B | 16.5x | 6.8% |
| WFC | WELLS FARGO & COMPANY/MN | $272.07B | 14.4x | -3.8% |
| C | CITIGROUP INC | $240.92B | 19.7x | 5.6% |
| COF | CAPITAL ONE FINANCIAL CORP | $136.66B | 54.5x | 36.3% |
| USB | US BANCORP \DE\ | $98.73B | 13.7x | 4.4% |
| PNC | PNC FINANCIAL SERVICES GROUP, INC. | $97.98B | 14.8x | 7.2% |
| TFC | TRUIST FINANCIAL CORP | $63.10B | 13.5x | -2.1% |