AmeriServ Financial

AmeriServ Financial, Inc.
Public company
Traded as NASDAQ: ASRV
Industry Banking
Founded 1989 (1989)
Headquarters Johnstown, Pennsylvania
Key people
 Craig G. Ford, Chairman
Jeffrey A. Stopko, CEO & President
Michael D. Lynch, CFO
Robert Werner, Senior Vice President & CIO
Total assets Increase $1.167 billion (2017)
Total equity Decrease $0.095 billion (2017)
Number of employees
 305 (2017)
Website www.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.

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]

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. 1 2 3 4 5 "AmeriServ Financial, Inc. 2017 Form 10-K Annual Report". U.S. Securities and Exchange Commission.
  2. 1 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.
This article is issued from Wikipedia. The text is licensed under Creative Commons - Attribution - Sharealike. Additional terms may apply for the media files.