Ameriserv Financial, Inc. Reports Unaudited Consolidated Earnings Results for the Fourth Quarter and Full Year 2014
January 20, 2015 at 08:00 am EST
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AmeriServ Financial, Inc. reported unaudited consolidated earnings results for the fourth quarter and full year 2014. The company reported fourth quarter 2014 net income available to common shareholders of $697,000, or $0.04 per diluted common share. This compares to net income available to common shareholders of $1,789,000, or $0.09 per diluted common share, reported for the fourth quarter of 2013. The company's net interest income in the fourth quarter of 2014 increased by $134,000 from the prior year's fourth quarter. Pretax income was $1,147,000 against $2,719,000 a year ago.
For the year ended December 31, 2014, the company reported net income available to common shareholders of $2,813,000, or $0.15 per diluted share. This represented a 42.3% decline in earnings per share from the full year 2013 where net income available to common shareholders totaled $4,984,000 or $0.26 per diluted common share. The company's net interest income for the full year 2014 increased by $1,183,000, or 3.6%, when compared to the full year 2013. Pretax income was $4,621,000 against $7,482,000 a year ago.
AmeriServ Financial, Inc. is a bank holding company of AmeriServ Financial Bank (the Bank). The Bank provides a range of services, including retail banking services and lending, depository, and related financial services. Its retail banking services include demand, savings, and time deposits, checking accounts, money market accounts, secured and unsecured consumer loans, mortgage loans, safe deposit boxes, holiday club accounts, and money order. It provides lending, depository, and related financial services to commercial, industrial, financial, and governmental customers, such as commercial real estate mortgage loans (CRE), short and medium-term loans, revolving credit arrangements, lines of credit, inventory and accounts receivable financing, real estate construction loans, business savings accounts, certificates of deposit, wire transfers, night depository, and lock box services. The Bank also operates 18 automated bank teller machines (ATMs) through its 24-hour banking network.