AmeriServ Financial posts stronger Q2 2026 profit

AmeriServ Financial, Inc. reported a sharp turnaround in profitability for the second quarter of 2026.

Rhea-AI Filing Summary

AmeriServ Financial, Inc. reported a sharp turnaround in profitability for the second quarter of 2026. Net income was $2,738,000, or $0.16 per diluted share, compared with a net loss of $282,000, or $(0.02) per share, a year earlier. For the six months ended June 30, 2026, net income was $4,532,000, or $0.27 per diluted share, a 170.0% increase in earnings per share from $0.10 in the 2025 period.

Results were driven by higher net interest income and margin, lower funding costs, and improved credit quality. Net interest income rose about 9% year over year for both the quarter and year-to-date, with net interest margin at 3.34% in the quarter and 3.30% year to date, a 24-basis point improvement versus 2025. The company recorded a $294,000 provision for credit losses recovery in the quarter versus a $3.1 million provision a year earlier, while non-performing loans were 0.76% of total loans at June 30, 2026 and the allowance covered 167% of non-performing loans.

Total assets were $1.46 billion, shareholders’ equity was $123.1 million, and tangible book value was $6.45 per share, up 9.5% over 12 months. The board declared a quarterly common stock cash dividend of $0.03 per share, payable August 17, 2026 to shareholders of record on August 3, 2026, representing a 3.1% annualized yield based on a $3.90 share price and a 22.2% payout ratio on 2026 year-to-date earnings.

Positive

• Profitability rebounded strongly with Q2 2026 net income of $2.74M versus a prior-year loss and six-month earnings of $4.53M, lifting diluted EPS to $0.27, a 170.0% increase over the first half of 2025.
• Core margin and funding costs improved: net interest margin reached 3.34% in Q2 2026 (up 24 bps), net interest income grew roughly 9%, and total interest expense fell 7.3% year over year for the quarter.
• Credit quality and reserves strengthened as the company recorded a $294,000 provision for credit losses recovery in Q2 2026 versus a $3.1M provision a year earlier; net charge-offs fell to 0.05% of average loans year to date and non-performing loans were only 0.76% of total loans with 167% reserve coverage.
• Capital and book value increased with shareholders’ equity at $123.1M, book value per share of $7.26, and tangible book value per share of $6.45 at June 30, 2026, rising 8.2% and 9.5%, respectively, over the prior 12 months.
• Shareholder returns enhanced via dividend as the board declared a $0.03 quarterly common dividend, equating to a 3.1% annualized yield on a $3.90 share price and a 22.2% payout ratio based on 2026 year-to-date earnings.

Negative

• Operating expenses rose meaningfully, with total non-interest expense up 9.3% in Q2 2026 and 7.2% year to date versus 2025, driven largely by a 57.6% quarterly and 63.0% year-to-date increase in professional fees related to expanded consulting services.

Filing Explained

At June 30, 2026, common shares outstanding were 16,964,267, up from 16,519,267 a year earlier; each unchanged existing share represents a smaller proportion of the company.

8-K Event Classification

3 items: 2.02, 8.01, 9.01

3 items

Item 2.02 Results of Operations and Financial Condition Financial

Disclosure of earnings results, typically an earnings press release or preliminary financials.

Item 8.01 Other Events Other

Voluntary disclosure of events the company deems important to shareholders but not covered by other items.

Item 9.01 Financial Statements and Exhibits Exhibits

Financial statements, pro forma financial information, or exhibit attachments filed with this report.

Key Figures

Q2 2026 Net Income: $2,738,000 YTD 2026 Diluted EPS: $0.27 Q2 2026 Net Interest Margin: 3.34% +5 more

8 metrics

Q2 2026 Net Income $2,738,000 Second quarter 2026 versus net loss of $282,000 in second quarter 2025

YTD 2026 Diluted EPS $0.27 Six months ended June 30, 2026, a 170.0% increase from $0.10 in 2025

Q2 2026 Net Interest Margin 3.34% Second quarter 2026 net interest margin, 24-basis point improvement versus 2025

Q2 2026 Provision for Credit Losses $(294,000) Provision for credit losses recovery in Q2 2026 versus $3.1 million provision in Q2 2025

Non-performing Loans Ratio 0.76% Non-performing loans as a percentage of total loans at June 30, 2026

Total Assets $1.46 billion Total assets at June 30, 2026

Quarterly Dividend per Share $0.03 Common stock cash dividend payable August 17, 2026 to shareholders of record August 3, 2026

Tangible Book Value per Share $6.45 Tangible book value per common share at June 30, 2026, up 9.5% over 12 months

Key Terms

net interest margin, provision for credit losses, non-performing assets, tangible common equity ratio, +2 more

6 terms

net interest margin financial

"our net interest margin increased by 24-basis points in the first six months of 2026"

Net interest margin measures how much a bank earns from lending and investing compared with what it pays for funding, expressed as a percentage of its interest-earning assets. Think of it like a grocery store’s markup: it shows the gap between buying cost and selling price per dollar of goods — here, the cost is interest paid and the sale is interest received. Investors watch it because a higher margin usually means a bank is more profitable and better at managing interest rate and credit conditions.

provision for credit losses financial

"The Company recorded a $294,000 provision for credit losses recovery in the second quarter of 2026"

Provision for credit losses is an amount set aside by a financial institution to cover potential future losses from borrowers who may not repay their loans. It acts like a safety net, helping the institution manage risks and stay financially healthy. For investors, it signals how cautious a lender is about potential loan defaults and can impact the company's profitability and financial stability.

non-performing assets financial

"Non-performing assets were relatively stable since December 31, 2025, decreasing by $138,000"

Loans or other credit exposures that are not producing expected income because borrowers have stopped making scheduled payments for a significant period (commonly around 90 days). Think of it like a business lending money that has gone quiet — the cash flow stops while the lender still carries the debt on its books. High levels of non-performing assets matter to investors because they reduce a lender’s earnings, tie up capital that could be used for growth, and signal higher risk of future losses.

tangible common equity ratio financial

"Overall, the Company’s allowance for loan credit losses provided 167% coverage of non-performing loans"

Tangible common equity ratio measures how much real, loss-absorbing capital common shareholders have relative to a company's tangible assets—calculated by removing intangible items (like goodwill) and preferred equity from total equity and comparing that net amount to tangible assets. Think of it as the thickness of a safety cushion made of solid, visible value rather than accounting entries; investors use it to judge how well a company could withstand losses and protect common shareholders' claims.

efficiency ratio financial

"Efficiency ratio (3) ... 80.22 ... 81.68"

A measure of how much a company spends to produce each dollar of revenue, usually shown as operating expenses divided by revenue and expressed as a percentage. Think of it as a household’s budget: a lower percentage means more of each dollar earned stays as profit, while a higher number means costs are eating into returns. Investors use it to judge cost control and compare how efficiently companies turn revenue into earnings, especially in banks and financial firms.

bank owned life insurance financial

"BOLI revenue increased by $118,000 in the second quarter of 2026"

Bank owned life insurance is a type of life insurance a bank buys on the lives of its employees so the bank, rather than the employee’s family, receives the payout when a covered person dies. It acts like a long-term asset that pays income and can help cover costs such as employee benefits or unexpected losses; investors watch it because the holding affects a bank’s reported earnings, cash flow stability, and capital position much like a conservative investment portfolio would.

Earnings Snapshot

Q2 2026 net income: $2,738,000

second quarter and six months ended June 30, 2026

Q2 2026 net income $2,738,000 versus net loss of $282,000 in Q2 2025

YTD 2026 net income $4,532,000 versus $1,626,000 in first six months of 2025

YTD 2026 diluted EPS $0.27 up 170.0% from $0.10 in the 2025 six-month period

Q2 2026 net interest margin 3.34% 24-basis point improvement versus Q2 2025

Q2 2026 return on average assets 0.75% compared with (0.08)% in Q2 2025

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

How did AmeriServ Financial (ASRV) perform in the second quarter of 2026?

AmeriServ Financial reported Q2 2026 net income of $2,738,000, or $0.16 per diluted share, compared with a $282,000 net loss, or $(0.02) per share, in Q2 2025. The improvement reflected higher net interest income, better margin, and lower credit costs.

What were AmeriServ Financial (ASRV) earnings for the first six months of 2026?

For the six months ended June 30, 2026, AmeriServ Financial generated net income of $4,532,000, or $0.27 per diluted share. This represents a 170.0% increase in earnings per share versus the 2025 period, when net income was $1,626,000, or $0.10 per diluted share.

How did AmeriServ Financial (ASRV) net interest margin and revenue change in 2026?

Net interest income rose by $942,000, or 9.1%, in Q2 2026 and $1.8 million, or 9.0%, year to date versus 2025. Net interest margin improved to 3.34% for Q2 2026 and 3.30% year to date, a 24-basis point increase for both periods.

What is the current dividend and yield for AmeriServ Financial (ASRV)?

The board declared a $0.03 per share quarterly common stock cash dividend, payable August 17, 2026 to shareholders of record on August 3, 2026. This represents a 3.1% annualized yield using the July 17, 2026 closing stock price of $3.90.

How strong are AmeriServ Financial (ASRV) asset quality and reserves?

At June 30, 2026, non-performing loans were 0.76% of total loans and non-performing assets totaled $8.4 million. Year-to-date net charge-offs were $230,000, or 0.05% of average loans, and the allowance for loan credit losses covered 167% of non-performing loans.

What is AmeriServ Financial (ASRV) capital and book value position as of June 30, 2026?

AmeriServ Financial reported total assets of $1.46 billion and shareholders’ equity of $123.1 million. Book value was $7.26 per common share and tangible book value was $6.45, rising $0.55 and $0.56, respectively, over the past 12 months.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 07/21/2026 - 10:11 AM Learn about SEC filing dates

0000707605false00007076052026-07-212026-07-21

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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

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Form 8-K

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Current Report

Pursuant to Section 13 or 15(d) of the

Securities Exchange Act of 1934

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Date of Report (Date of earliest event reported) July 21, 2026

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AMERISERV FINANCIAL, Inc.

(exact name of registrant as specified in its charter)

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Pennsylvania	​	0-11204	​	25-1424278
(State or other jurisdiction	​	(Commission	​	(IRS Employer
of incorporation)	​	File Number)	​	Identification No.)

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Main and Franklin Streets, Johnstown, PA	15901
(address of principal executive offices)	(Zip Code)

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Registrant's telephone number, including area code: 814-533-5300

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N/A

(Former name or former address, if changed since last report.)

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Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

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☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

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☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

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☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

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☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

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Securities registered pursuant to Section 12(b) of the Act:

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Title Of Each Class	​ ​ ​	Trading Symbol	​ ​ ​	Name of Each Exchange On Which Registered
Common Stock	​	ASRV	​	The NASDAQ Stock Market LLC

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Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (240.12b-2 of this chapter).

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Emerging growth company ☐

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If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

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Form 8-K

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Item 2.02 Results of operation and financial condition.

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AMERISERV FINANCIAL, Inc. (the "Registrant") announced second quarter and first six months of 2026 results through June 30, 2026. For a more detailed description of the announcement see the press release attached as Exhibit 99.1.

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Item 8.01 Other events.

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On July 21, 2026, the Registrant issued a press release announcing that its Board of Directors declared a $0.03 per share quarterly common stock cash dividend. The cash dividend is payable August 17, 2026 to shareholders of record on August 3, 2026. The press release, attached hereto as Exhibit 99.1, is incorporated herein.

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Item 9.01 Financial Statements and Exhibits.

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(d) Exhibits:

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99.1	​ ​ ​	Press release dated July 21, 2026, announcing second quarter and first six months of 2026 earnings through June 30, 2026 and quarterly common stock cash dividend.
104	​ ​ ​	Cover Page Interactive Data File (embedded within the Inline XBRL document).

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Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

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​	AMERISERV FINANCIAL, Inc.
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Date: July 21, 2026	By	/s/ Jeffrey A. Stopko
​	​	Jeffrey A. Stopko
​	​	President, Chief Executive Officer & Chief Financial Officer

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Exhibit 99.1

AMERISERV FINANCIAL REPORTS INCREASED EARNINGS FOR THE SECOND QUARTER AND FIRST SIX MONTHS OF 2026 AND ANNOUNCES QUARTERLY COMMON STOCK CASH DIVIDEND

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JOHNSTOWN, PA - AmeriServ Financial, Inc. (NASDAQ: ASRV) reported second quarter 2026 net income of $2,738,000, or $0.16 per diluted common share. This compares to a net loss for the second quarter of 2025 of $282,000, or $0.02 per diluted common share. For the six-month period ended June 30, 2026, the Company reported net income of $4,532,000, or $0.27 per diluted common share. This represented a 170.0% increase in earnings per share from the six-month period of 2025 when net income totaled $1,626,000, or $0.10 per diluted common share. The following table details the Company’s financial performance for the three- and six-month periods ended June 30, 2026 and 2025:

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Second Quarter 2026

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Second Quarter 2025

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Six Months Ended June 30, 2026

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Six Months Ended June 30, 2025

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Net income (loss)

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$

2,738,000

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$

(282,000)

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$

4,532,000

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$

1,626,000

Diluted earnings per share

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$

0.16

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$

(0.02)

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$

0.27

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$

0.10

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Jeffrey A. Stopko, President and Chief Executive Officer, commented on the second quarter 2026 financial results: “AmeriServ Financial achieved record quarterly earnings in the second quarter of 2026 due to growth in total revenue and favorable asset quality trends. The increase in total revenue was caused by meaningful improvement in our net interest income for both the second quarter and first six months of 2026 because of effective balance sheet management. Specifically, our net interest margin increased by 24-basis points in the first six months of 2026 leading to a $1.8 million increase in net interest income, which is important since it represents approximately 72% of our total revenue. Improved wealth management fees also contributed to growth in non-interest revenue. Our Company is well positioned for organic growth in the second half of 2026 as we have strong liquidity and solid capital. We will continue to diligently focus on both revenue growth and expense control to further improve the Company’s operating efficiency.”

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All second quarter and six months 2026 financial performance metrics within this document are compared to the second quarter and six months of 2025 unless otherwise noted.

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Net interest income in the second quarter of 2026 increased by $942,000, or 9.1%, from the prior year's second quarter and, for the first six months of 2026, increased by $1.8 million, or 9.0%, when compared to the first six months of 2025.  The Company’s net interest margin of 3.34% for the second quarter of 2026 and 3.30% for the six months of 2026 represents a 24-basis point improvement for both the quarter and six-month periods.  Along with the sharply improved net interest margin performance, the increase also reflects controlled balance sheet growth, as both total earning assets and total deposits are at higher average levels due to effective balance sheet management. This, combined with effective pricing strategies, resulted in both the total earning asset yield and cost of interest-bearing funds improving between years.  The Federal Reserve’s action to lower short-term interest rates during the latter portion of 2025 favorably impacted total interest-bearing deposits and borrowings costs.  Also, the U.S. Treasury yield curve demonstrating a more traditional steeper upward slope favorably impacted earning asset yields. Management believes the net interest margin will continue to improve through the second half of 2026.  Earnings performance in 2026 was also favorably impacted by a lower provision for credit losses reflecting improvement in the bank’s asset quality.  An increase in non-interest expense for both 2026 time periods was partially offset by improved non-interest income for the same time frames. Overall, the improvement in the Company’s financial performance was caused by increased total revenue and a lower provision for credit losses which more than offset higher non-interest expense resulting in earnings through six months of 2026 exceeding earnings through six months of 2025 by $2.9 million, or 179%.  

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Total investment securities averaged $295.2 million for the second quarter of 2026, which was $38.7 million, or 15.1%, higher than the $256.4 million average for the second quarter of 2025.  Additionally, overnight short-term investments were higher by $21.1 million in the second quarter of 2026.  Similar trends were noted for the six-month period. These increases reflect a higher level of loan prepayment activity as well as our liquidity position strengthening in the fourth quarter of 2025 and throughout the first half of 2026 due to deposit growth.  Therefore, more funds were available to invest in the securities portfolio during a time when security yields improved, making purchases more attractive. As a result, the securities portfolio grew by $42.2 million, or 17.0%, since December 31, 2025.  New investment security purchases were also necessary to replace cash flow from maturing securities to maintain appropriate balances for pledging purposes related to public fund deposits. The higher balances and improved yields for new securities purchases caused interest income from investments to increase by $741,000, or 26.9%, for the second quarter and by $1.3 million, or 25.1%, for the first six months of 2026 compared to the same time periods last year.

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Total average loans for the second quarter of 2026 declined from the second quarter of 2025 by $47.2 million, or 4.4%, due to increased loan payoff activity, particularly from the commercial real estate (CRE) portfolio, which exceeded loan originations.  A similar trend was noted for the six-month period as total average loans dropped $42.3 million, or 4.0%. However, total loans continue to be above the $1.0 billion threshold, averaging $1.022 billion for the second quarter of 2026.  Total loan interest income decreased by $331,000, or

2.2%, for the second quarter and by $433,000, or 1.5%, for the first six months of 2026 compared to the same time periods last year.  This decline reflects the lower average loan balance more than offsetting the benefits of a better interest rate environment in 2026, and a portion of CRE loans, that were booked during the COVID pandemic when interest rates were low, repricing upward during the first half of 2026.  Overall, through six months of 2026, the average balance of total interest earning assets increased from last year’s average by $13.7 million, or 1.0%, while total interest income increased by $890,000, or 2.6%, from the first half of 2025 due to the increased revenue contribution from the investment securities portfolio.

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On the liability side of the balance sheet, total deposits averaged $1.27 billion for the second quarter of 2026 which was $29.8 million, or 2.4%, higher than the second quarter of 2025 average due to the Company’s successful business development efforts.  Additionally, the Company’s core deposit base continues to demonstrate the strength and stability that it has for many years due to customer loyalty and confidence in AmeriServ Financial Bank.  The Company does not utilize brokered deposits as a funding source.  The loan to deposit ratio averaged 80.5% in the second quarter of 2026, which indicates that the Company has ample capacity to continue to grow its loan portfolio and is well positioned to support our customers and our community during times of economic volatility.

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Total interest expense decreased by $532,000, or 7.3%, for the second quarter of 2026 and decreased by $949,000, or 6.6%, for the six months when compared to both time periods of 2025.  Deposit interest expense declined by $549,000, or 4.4%, through the first six months of 2026 despite total average interest-bearing deposits growing by $39.6 million, or 3.8%, compared to the first six months of last year.  The decrease in deposit interest expense reflects management’s effective deposit pricing strategies along with the benefit of the Federal Reserve easing monetary policy during the final four months of 2025.  This reduction in interest-bearing deposit costs contributed to the previously mentioned improvement in the net interest margin.  Overall, total deposit cost (including the benefit of non-interest-bearing demand deposits) averaged 1.92% for the second quarter of 2026, which is a 15-basis point improvement from the second quarter of 2025.  

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Total borrowings interest expense decreased by $188,000, or 21.2%, for the second quarter of 2026 and declined by $400,000, or 21.6%, for the first six months when compared to both time periods of 2025. The Company’s utilization of overnight borrowed funds during the first six months of 2026 was lower than it was for the first half of 2025, resulting in the average decreasing by $4.4 million, or 88.5%, due to the higher level of total average deposits. Also, management elected not to replace the majority of maturing Federal Home Loan Bank (FHLB) term advances during the full year of 2025 and did not replace any during the first half of 2026 because of the strength of the Company’s liquidity position. Therefore, the total average balance of advances from the FHLB during the first half of 2026 decreased by $13.0 million, or 24.5%, from the same period of last year. The decrease in borrowings interest expense also reflects the Federal Reserve’s 2025 action to ease monetary policy by 75-basis points which had an immediate and favorable impact on the cost of overnight borrowed funds.

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The Company recorded a $294,000 provision for credit losses recovery in the second quarter of 2026 after recording a $3.1 million provision for credit losses in the second quarter of 2025, resulting in a favorable shift of $3.4 million.  For the first six months of 2026, the Company recognized a $77,000 provision for credit losses recovery after recognizing a $3.0 million provision for credit losses in the first six months of 2025, resulting in a net favorable change of $3.1 million. The large provision for credit losses in the second quarter of 2025 was needed to resolve the Company’s largest non-performing loan which also included a related $2.8 million loan charge-off.  The provision recovery in the second quarter of 2026 reflected a continuing favorable trend for historical loss rates along with a softening of reserve requirements due to the contraction in the size of the loan portfolio.    

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Non-performing assets were relatively stable since December 31, 2025, decreasing by $138,000, or 1.6%, and totaling $8.4 million. Non-performing loans represented 0.76% of total loans on June 30, 2026.  The Company recognized net loan charge-offs of $230,000, or 0.05% of total average loans, in the first six months of 2026 compared to net loan charge-offs of $3.0 million, or 0.56% of total average loans, in the first six months of 2025.  Overall, the Company’s allowance for loan credit losses provided 167% coverage of non-performing loans and represented 1.27% of total loans at June 30, 2026.    

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Total non-interest income in the second quarter of 2026 increased by $471,000, or 11.5%, from the prior year's second quarter and increased by $317,000, or 3.9%, in the first half of 2026 when compared to the first half of 2025.  The increase in both time periods was due to higher levels of wealth management fees and bank owned life insurance (BOLI) revenue.  Wealth management fees increased by $312,000, or 11.2%, for the second quarter and by $308,000, or 5.5%, for the six months due to market appreciation of customer assets as the equity markets moved to record levels in the second quarter of 2026.  Overall, the fair market value of wealth management assets totaled $2.8 billion at June 30, 2026, and increased by $75 million, or 2.8%, since December 31, 2025.  BOLI revenue increased by $118,000 in the second quarter of 2026 and by $92,000 for the six-month period due to the receipt of a larger death claim in 2026.    

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Total non-interest expense in the second quarter of 2026 increased by $1.1 million, or 9.3%, when compared to the second quarter of 2025 and increased by $1.7 million, or 7.2%, during the first half of 2026 when compared to the first half of 2025.  Professional fees increased by $520,000, or 57.6%, for the second quarter and by $1.0 million, or 63.0%, for the six months due to additional expenses related to expanded consulting services provided to the Company by SB Value Partners in accordance with the amended and restated consulting agreement. Salaries and employee benefits increased by $336,000, or 4.7%, for the second quarter and $338,000, or 2.4%, for the six months due primarily to annual salary increases. Other expenses increased by $126,000, or 10.6%, for the second quarter and

$234,000, or 10.1%, for the six months due to the bank having to recognize additional workout expenses related to a loan relationship secured by an owner-occupied CRE property.

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The Company recorded income tax expense of $1.1 million in the first half of 2026, or an effective tax rate of 19.3%, which compares to income tax expense of $408,000, or an effective tax rate of 20.1%, in the first half of 2025.

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The Company had total assets of $1.46 billion, shareholders' equity of $123.1 million, a book value of $7.26 per common share and a tangible book value of $6.45(1) per common share on June 30, 2026.  Book value per common share increased by $0.55, or 8.2%, and tangible book value per common share also increased by $0.56, or 9.5%, over the past 12 months. The Company and Bank continued to maintain a strong capital position that exceeds the regulatory defined well-capitalized status as of June 30, 2026.

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QUARTERLY COMMON STOCK DIVIDEND

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The Company’s Board of Directors declared a $0.03 per share quarterly common stock cash dividend. The cash dividend is payable August 17, 2026, to shareholders of record on August 3, 2026. This cash dividend represents a 3.1% annualized yield using the July 17, 2026, closing stock price of $3.90 and a 22.2% payout ratio based upon 2026 year to date earnings.

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Forward-Looking Statements

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This press release contains forward-looking statements as defined in the Securities Exchange Act of 1934 and is subject to the safe harbors created therein. Such statements are not historical facts and include expressions about management's confidence and strategies and management's current views and expectations about new and existing programs and products, relationships, opportunities, technology, market conditions, dividend program, and future payment obligations. These statements may be identified by such forward-looking terminology as "continuing," "expect," "look," "believe," "anticipate," "may," "will," "should," "projects," "strategy," or similar statements. Actual results may differ materially from such forward-looking statements, and no reliance should be placed on any forward-looking statement. Factors that may cause results to differ materially from such forward-looking statements include, but are not limited to, changes in the financial markets, the level of inflation, and the direction of interest rates; volatility in earnings due to certain financial assets and liabilities held at fair value; competition levels; loan and investment prepayments differing from our assumptions; insufficient allowance for credit losses; a higher level of loan charge-offs and delinquencies than anticipated; material adverse changes in our operations or earnings; a decline in the economy in our market areas; changes in relationships with major customers; changes in effective income tax rates; higher or lower cash flow levels than anticipated; inability to hire or retain qualified employees; a decline in the levels of deposits or loss of alternate funding sources; a decrease in loan origination volume or an inability to close loans currently in the pipeline; changes in laws and regulations; adoption, interpretation and implementation of accounting pronouncements; operational risks, including the risk of fraud by employees, customers or outsiders; unanticipated effects to our banking platform, including risks and unanticipated costs related to a core system migration; developments in technology, such as artificial intelligence, and our ability to incorporate innovative technologies in our business and provide products and services that satisfy our customers’ expectations for convenience and security; and the inability to successfully implement or expand new lines of business or new products and services.  These forward-looking statements involve risks and uncertainties that could cause AmeriServ's results to differ materially from management's current expectations. Such risks and uncertainties are detailed in AmeriServ's filings with the Securities and Exchange Commission, including our Annual Report on Form 10-K for the year ended December 31, 2025. Forward-looking statements are based on the beliefs and assumptions of AmeriServ's management and on currently available information. The statements in this press release are made as of the date of this press release, even if subsequently made available by AmeriServ on its website or otherwise. AmeriServ undertakes no responsibility to publicly update or revise any forward-looking statement.

(1)Non-GAAP Financial Information. See “Reconciliation of Non-GAAP Financial Measures” at end of release.

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AMERISERV FINANCIAL, INC.

NASDAQ: ASRV

SUPPLEMENTAL FINANCIAL PERFORMANCE DATA

June 30, 2026

(Dollars in thousands, except per share and ratio data)

(Unaudited)

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2026

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​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

1QTR

​

2QTR

​

YEAR TO DATE

PERFORMANCE DATA FOR THE PERIOD:

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Net income (loss)

​

​

​

​

​

​

​

​

$

1,794

​

​

$

2,738

​

​

$

4,532

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

PERFORMANCE PERCENTAGES (annualized):

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Return on average assets

​

​

​

​

​

​

​

​

​

0.50

%

​

​

0.75

%

​

​

0.63

%

Return on average equity

​

​

​

​

​

​

​

​

​

6.03

​

​

​

9.12

​

​

​

7.58

​

Return on average tangible common equity (1)

​

​

​

​

​

​

​

​

​

6.80

​

​

​

10.29

​

​

​

8.55

​

Net interest margin

​

​

​

​

​

​

​

​

​

3.26

​

​

​

3.34

​

​

​

3.30

​

Net charge-offs as a percentage of average loans

​

​

​

​

​

​

​

​

​

0.08

​

​

​

0.01

​

​

​

0.05

​

Efficiency ratio (3)

​

​

​

​

​

​

​

​

​

83.26

​

​

​

80.22

​

​

​

81.68

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

EARNINGS PER COMMON SHARE:

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Basic

​

​

​

​

​

​

​

​

$

0.11

​

​

$

0.16

​

​

$

0.27

​

Average number of common shares outstanding

​

​

​

​

​

​

​

​

​

16,927

​

​

​

16,964

​

​

​

16,946

​

Diluted

​

​

​

​

​

​

​

​

$

0.11

​

​

$

0.16

​

​

$

0.27

​

Average number of common shares outstanding

​

​

​

​

​

​

​

​

​

16,928

​

​

​

16,966

​

​

​

16,947

​

Cash dividends paid per share

​

​

​

​

​

​

​

​

$

0.03

​

​

$

0.03

​

​

$

0.06

​

​

​

2025

​ ​ ​ ​ ​ ​ ​ ​ ​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

1QTR

​

2QTR

​

YEAR TO DATE

PERFORMANCE DATA FOR THE PERIOD:

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Net income (loss)

​

​

​

​

​

​

​

​

$

1,908

​

​

$

(282)

​

​

$

1,626

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

PERFORMANCE PERCENTAGES (annualized):

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Return on average assets

​

​

​

​

​

​

​

​

​

0.54

%

​

​

(0.08)

%

​

​

0.23

%

Return on average equity

​

​

​

​

​

​

​

​

​

7.12

​

​

​

(1.02)

​

​

​

2.99

​

Return on average tangible common equity (1)

​

​

​

​

​

​

​

​

​

8.14

​

​

​

(1.16)

​

​

​

3.41

​

Net interest margin

​

​

​

​

​

​

​

​

​

3.01

​

​

​

3.10

​

​

​

3.06

​

Net charge-offs as a percentage of average loans

​

​

​

​

​

​

​

​

​

0.02

​

​

​

1.09

​

​

​

0.56

​

Efficiency ratio (3)

​

​

​

​

​

​

​

​

​

83.67

​

​

​

80.73

​

​

​

82.18

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

EARNINGS PER COMMON SHARE:

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Basic

​

​

​

​

​

​

​

​

$

0.12

​

​

$

(0.02)

​

​

$

0.10

​

Average number of common shares outstanding

​

​

​

​

​

​

​

​

​

16,519

​

​

​

16,519

​

​

​

16,519

​

Diluted

​

​

​

​

​

​

​

​

$

0.12

​

​

$

(0.02)

​

​

$

0.10

​

Average number of common shares outstanding

​

​

​

​

​

​

​

​

​

16,519

​

​

​

16,519

​

​

​

16,519

​

Cash dividends paid per share

​

​

​

​

​

​

​

​

$

0.03

​

​

$

0.03

​

​

$

0.06

​

​

​

AMERISERV FINANCIAL, INC.

NASDAQ: ASRV

--CONTINUED--

(Dollars in thousands, except per share, statistical, and ratio data)

(Unaudited)

​

2026

​

​

​

​

​

​

​

​

​

​

​

​

​

​ ​ ​ ​ ​ ​ ​ ​ ​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

1QTR

​

2QTR

​ ​ ​

FINANCIAL CONDITION DATA AT PERIOD END:

​

​

​

​

​

​

​

​

​

​

​

​

Assets

​

​

​

​

​

​

$

1,472,654

​

$

1,460,481

​

Short-term investments/overnight funds

​

​

​

​

​

​

​

41,039

​

​

14,188

​

Investment securities, net of allowance for credit losses - securities

​

​

​

​

​

​

​

263,085

​

​

290,636

​

Trading securities

​

​

​

​

​

​

​

7,164

​

​

8,588

​

Total loans and loans held for sale, net of unearned income

​

​

​

​

​

​

​

1,031,482

​

​

1,014,112

​

Allowance for credit losses - loans

​

​

​

​

​

​

​

13,206

​

​

12,896

​

Intangible assets

​

​

​

​

​

​

​

13,662

​

​

13,658

​

Deposits

​

​

​

​

​

​

​

1,269,950

​

​

1,259,665

​

Short-term and FHLB borrowings

​

​

​

​

​

​

​

40,895

​

​

36,195

​

Subordinated debt, net

​

​

​

​

​

​

​

26,778

​

​

26,788

​

Shareholders’ equity

​

​

​

​

​

​

​

120,703

​

​

123,084

​

Non-performing assets

​

​

​

​

​

​

​

8,722

​

​

8,380

​

Tangible common equity ratio (1)

​

​

​

​

​

​

​

7.34

%

​

7.56

%

Community bank leverage ratio – AmeriServ Financial Bank

​

​

​

​

​

​

​

9.45

​

​

9.46

​

PER COMMON SHARE:

​

​

​

​

​

​

​

​

​

​

​

​

Book value

​

​

​

​

​

​

$

7.12

​

$

7.26

​

Tangible book value (1)

​

​

​

​

​

​

​

6.31

​

​

6.45

​

Market value (2)

​

​

​

​

​

​

​

3.62

​

​

3.88

​

Wealth management assets – fair market value (4)

​

​

​

​

​

​

$

2,613,708

​

$

2,756,776

​

​

​

​

​

​

​

​

​

​

​

​

​

​

STATISTICAL DATA AT PERIOD END:

​

​

​

​

​

​

​

​

​

​

​

​

Full-time equivalent employees

​

​

​

​

​

​

​

299

​

​

297

​

Branch locations

​

​

​

​

​

​

​

16

​

​

16

​

Common shares outstanding

​

​

​

​

​

​

​

16,964,267

​

​

16,964,267

​

​

2025

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​ ​ ​ ​ ​ ​ ​ ​ ​

​

​

​

​

​

​

​

​

​

​

​

​

1QTR

​

2QTR

​

3QTR

​

4QTR

​ ​ ​

FINANCIAL CONDITION DATA AT PERIOD END:

​

​

​

​

​

​

​

​

​

​

​

​

Assets

$

1,431,524

​

$

1,448,733

​

$

1,461,494

​

$

1,453,813

​

Short-term investments/overnight funds

​

3,865

​

​

4,805

​

​

39,098

​

​

39,418

​

Investment securities, net of allowance for credit losses - securities

​

231,454

​

​

237,320

​

​

236,740

​

​

248,484

​

Trading securities

​

0

​

​

4,205

​

​

4,462

​

​

7,253

​

Total loans and loans held for sale, net of unearned income

​

1,062,326

​

​

1,069,220

​

​

1,055,683

​

​

1,032,968

​

Allowance for credit losses - loans

​

13,812

​

​

14,060

​

​

14,408

​

​

13,128

​

Intangible assets

​

13,682

​

​

13,677

​

​

13,672

​

​

13,667

​

Deposits

​

1,216,838

​

​

1,244,533

​

​

1,258,588

​

​

1,248,128

​

Short-term and FHLB borrowings

​

63,121

​

​

51,611

​

​

48,023

​

​

44,615

​

Subordinated debt, net

​

26,736

​

​

26,747

​

​

26,757

​

​

26,767

​

Shareholders’ equity

​

110,759

​

​

110,921

​

​

114,575

​

​

119,312

​

Non-performing assets

​

14,971

​

​

16,419

​

​

14,953

​

​

8,518

​

Tangible common equity ratio (1)

​

6.85

%

​

6.78

%

​

6.97

%

​

7.34

%

Community bank leverage ratio – AmeriServ Financial Bank

​

9.20

​

​

9.12

​

​

9.26

​

​

9.32

​

PER COMMON SHARE:

​

​

​

​

​

​

​

​

​

​

​

​

Book value

$

6.70

​

$

6.71

​

$

6.94

​

$

7.22

​

Tangible book value (1)

​

5.88

​

​

5.89

​

​

6.11

​

​

6.39

​

Market value (2)

​

2.43

​

​

3.04

​

​

2.90

​

​

3.19

​

Wealth management assets – fair market value (4)

$

2,486,920

​

$

2,583,839

​

$

2,661,214

​

$

2,681,678

​

​

​

​

​

​

​

​

​

​

​

​

​

​

STATISTICAL DATA AT PERIOD END:

​

​

​

​

​

​

​

​

​

​

​

​

Full-time equivalent employees

​

298

​

​

309

​

​

306

​

​

298

​

Branch locations

​

16

​

​

16

​

​

16

​

​

16

​

Common shares outstanding

​

16,519,267

​

​

16,519,267

​

​

16,519,267

​

​

16,522,267

​

NOTES:

(1) Non-GAAP Financial Information. See “Reconciliation of Non-GAAP Financial Measures” at end of release.

(2) Based on closing price reported by the principal market on which the share is traded on the last business day of the corresponding reporting period.

(3) Ratio calculated by dividing total non-interest expense by tax equivalent net interest income plus total non-interest income.

(4) Not recognized on the consolidated balance sheets.

​

​

AMERISERV FINANCIAL, INC.

NASDAQ: ASRV

CONSOLIDATED STATEMENT OF INCOME

(Dollars in thousands)

(Unaudited)

​

2026

​

​ ​ ​ ​ ​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

1QTR

​

2QTR

​

YEAR TO DATE

INTEREST INCOME

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Interest and fees on loans

​

​

​

​

​

​

​

$

14,406

​

$

14,601

​

$

29,007

Interest on investments

​

​

​

​

​

​

​

​

3,096

​

​

3,498

​

​

6,594

Total Interest Income

​

​

​

​

​

​

​

​

17,502

​

​

18,099

​

​

35,601

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

INTEREST EXPENSE

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Deposits

​

​

​

​

​

​

​

​

5,919

​

​

6,064

​

​

11,983

All borrowings

​

​

​

​

​

​

​

​

755

​

​

699

​

​

1,454

Total Interest Expense

​

​

​

​

​

​

​

​

6,674

​

​

6,763

​

​

13,437

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

NET INTEREST INCOME

​

​

​

​

​

​

​

​

10,828

​

​

11,336

​

​

22,164

Provision (recovery) for credit losses

​

​

​

​

​

​

​

​

217

​

​

(294)

​

​

(77)

NET INTEREST INCOME AFTER PROVISION (RECOVERY) FOR CREDIT LOSSES

​

​

​

​

​

​

​

​

10,611

​

​

11,630

​

​

22,241

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

NON-INTEREST INCOME

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Wealth management fees

​

​

​

​

​

​

​

​

2,860

​

​

3,094

​

​

5,954

Service charges on deposit accounts

​

​

​

​

​

​

​

​

302

​

​

275

​

​

577

Mortgage banking revenue

​

​

​

​

​

​

​

​

50

​

​

59

​

​

109

(Loss) gain on trading securities

​

​

​

​

​

​

​

​

(63)

​

​

60

​

​

(3)

Bank owned life insurance

​

​

​

​

​

​

​

​

238

​

​

362

​

​

600

Other income

​

​

​

​

​

​

​

​

580

​

​

717

​

​

1,297

Total Non-Interest Income

​

​

​

​

​

​

​

​

3,967

​

​

4,567

​

​

8,534

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

NON-INTEREST EXPENSE

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Salaries and employee benefits

​

​

​

​

​

​

​

​

7,225

​

​

7,412

​

​

14,637

Net occupancy expense

​

​

​

​

​

​

​

​

843

​

​

789

​

​

1,632

Equipment expense

​

​

​

​

​

​

​

​

408

​

​

435

​

​

843

Professional fees

​

​

​

​

​

​

​

​

1,165

​

​

1,423

​

​

2,588

Data processing and IT expense

​

​

​

​

​

​

​

​

1,267

​

​

1,230

​

​

2,497

FDIC deposit insurance expense

​

​

​

​

​

​

​

​

210

​

​

196

​

​

406

Other expense

​

​

​

​

​

​

​

​

1,240

​

​

1,313

​

​

2,553

Total Non-Interest Expense

​

​

​

​

​

​

​

​

12,358

​

​

12,798

​

​

25,156

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

PRETAX INCOME (LOSS)

​

​

​

​

​

​

​

​

2,220

​

​

3,399

​

​

5,619

Income tax expense (benefit)

​

​

​

​

​

​

​

​

426

​

​

661

​

​

1,087

NET INCOME (LOSS)

​

​

​

​

​

​

​

$

1,794

​

$

2,738

​

$

4,532

​

2025

​ ​ ​ ​ ​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​ ​ ​

​

​

1QTR

​

2QTR

​

YEAR TO DATE

INTEREST INCOME

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Interest and fees on loans

​

​

​

​

​

​

​

$

14,508

​

$

14,932

​

$

29,440

Interest on investments

​

​

​

​

​

​

​

​

2,514

​

​

2,757

​

​

5,271

Total Interest Income

​

​

​

​

​

​

​

​

17,022

​

​

17,689

​

​

34,711

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

INTEREST EXPENSE

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Deposits

​

​

​

​

​

​

​

​

6,124

​

​

6,408

​

​

12,532

All borrowings

​

​

​

​

​

​

​

​

967

​

​

887

​

​

1,854

Total Interest Expense

​

​

​

​

​

​

​

​

7,091

​

​

7,295

​

​

14,386

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

NET INTEREST INCOME

​

​

​

​

​

​

​

​

9,931

​

​

10,394

​

​

20,325

Provision (recovery) for credit losses

​

​

​

​

​

​

​

​

(97)

​

​

3,133

​

​

3,036

NET INTEREST INCOME AFTER PROVISION (RECOVERY) FOR CREDIT LOSSES

​

​

​

​

​

​

​

​

10,028

​

​

7,261

​

​

17,289

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

NON-INTEREST INCOME

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Wealth management fees

​

​

​

​

​

​

​

​

2,864

​

​

2,782

​

​

5,646

Service charges on deposit accounts

​

​

​

​

​

​

​

​

306

​

​

301

​

​

607

Mortgage banking revenue

​

​

​

​

​

​

​

​

28

​

​

58

​

​

86

(Loss) gain on trading securities

​

​

​

​

​

​

​

​

0

​

​

35

​

​

35

Bank owned life insurance

​

​

​

​

​

​

​

​

264

​

​

244

​

​

508

Other income

​

​

​

​

​

​

​

​

659

​

​

676

​

​

1,335

Total Non-Interest Income

​

​

​

​

​

​

​

​

4,121

​

​

4,096

​

​

8,217

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

NON-INTEREST EXPENSE

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Salaries and employee benefits

​

​

​

​

​

​

​

​

7,223

​

​

7,076

​

​

14,299

Net occupancy expense

​

​

​

​

​

​

​

​

841

​

​

746

​

​

1,587

Equipment expense

​

​

​

​

​

​

​

​

390

​

​

404

​

​

794

Professional fees

​

​

​

​

​

​

​

​

685

​

​

903

​

​

1,588

Data processing and IT expense

​

​

​

​

​

​

​

​

1,252

​

​

1,153

​

​

2,405

FDIC deposit insurance expense

​

​

​

​

​

​

​

​

240

​

​

240

​

​

480

Other expense

​

​

​

​

​

​

​

​

1,132

​

​

1,187

​

​

2,319

Total Non-Interest Expense

​

​

​

​

​

​

​

​

11,763

​

​

11,709

​

​

23,472

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

PRETAX INCOME (LOSS)

​

​

​

​

​

​

​

​

2,386

​

​

(352)

​

​

2,034

Income tax expense (benefit)

​

​

​

​

​

​

​

​

478

​

​

(70)

​

​

408

NET INCOME (LOSS)

​

​

​

​

​

​

​

$

1,908

​

$

(282)

​

$

1,626

​

​

​

AMERISERV FINANCIAL, INC.

NASDAQ: ASRV

AVERAGE BALANCE SHEET DATA

(Dollars in thousands)

(Unaudited)

​

	2026					​	2025
​	2QTR		​	SIX MONTHS		​	2QTR		​	SIX MONTHS
Interest earning assets:	​	​	​	​	​	​	​	​	​	​	​
Loans and loans held for sale, net of unearned income	$	1,022,054	​	$	1,024,595	​	$	1,069,207	​	$	1,066,931
Short-term investments and bank deposits	​	31,469	​	​	30,165	​	​	10,349	​	​	11,085
Investment securities	​	295,151	​	​	283,422	​	​	256,436	​	​	251,587
Trading securities	​	8,128	​	​	7,687	​	​	5,040	​	​	2,534
Total interest earning assets	​	1,356,802	​	​	1,345,869	​	​	1,341,032	​	​	1,332,137
​	​	​	​	​	​	​	​	​	​	​	​
Non-interest earning assets:	​	​	​	​	​	​	​	​	​	​	​
Cash and due from banks	​	13,495	​	​	13,733	​	​	15,431	​	​	15,599
Premises and equipment	​	17,232	​	​	17,315	​	​	17,648	​	​	17,822
Other assets	​	93,806	​	​	94,350	​	​	88,637	​	​	88,860
Allowance for credit losses	​	(13,594)	​	​	(13,516)	​	​	(15,007)	​	​	(14,745)
Total assets	$	1,467,741	​	$	1,457,751	​	$	1,447,741	​	$	1,439,673
​	​	​	​	​	​	​	​	​	​	​	​
Interest bearing liabilities:	​	​	​	​	​	​	​	​	​	​	​
Interest bearing deposits:	​	​	​	​	​	​	​	​	​	​	​
Interest bearing demand	$	336,953	​	$	330,501	​	$	322,136	​	$	331,819
Savings	​	125,239	​	​	124,645	​	​	123,078	​	​	122,106
Money market	​	271,584	​	​	261,318	​	​	245,971	​	​	241,888
Other time	​	369,282	​	​	373,214	​	​	371,801	​	​	354,249
Total interest bearing deposits	​	1,103,058	​	​	1,089,678	​	​	1,062,986	​	​	1,050,062
Borrowings:	​	​	​	​	​	​	​	​	​	​	​
Short-term borrowings	​	306	​	​	577	​	​	3,604	​	​	5,005
Advances from Federal Home Loan Bank	​	37,146	​	​	39,907	​	​	50,899	​	​	52,891
Subordinated debt	​	27,000	​	​	27,000	​	​	27,000	​	​	27,000
Lease liabilities	​	3,778	​	​	3,823	​	​	4,137	​	​	4,172
Total interest bearing liabilities	​	1,171,288	​	​	1,160,985	​	​	1,148,626	​	​	1,139,130
​	​	​	​	​	​	​	​	​	​	​	​
Non-interest bearing liabilities:	​	​	​	​	​	​	​	​	​	​	​
Demand deposits	​	167,043	​	​	166,573	​	​	177,337	​	​	179,053
Other liabilities	​	9,048	​	​	9,675	​	​	10,839	​	​	11,661
Shareholders’ equity	​	120,362	​	​	120,518	​	​	110,939	​	​	109,829
Total liabilities and shareholders’ equity	$	1,467,741	​	$	1,457,751	​	$	1,447,741	​	$	1,439,673

​

​

AMERISERV FINANCIAL, INC.

NASDAQ: ASRV

CHANGES IN SHAREHOLDERS’ EQUITY

(Dollars in thousands)

(Unaudited)

​

2026

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Common Stock

​

Treasury Stock

​

Surplus

​

RETAINED EARNINGS

​

ACCUMULATED OTHER COMPREHENSIVE LOSS

​

TOTAL

Balance at December 31, 2025

​

$

270

​

$

(84,791)

​

$

147,070

​

$

64,112

​

$

(7,349)

​

$

119,312

Net income

​

​

0

​

​

0

​

​

0

​

​

1,794

​

​

0

​

​

1,794

Exercise of stock options and stock option expense

​

​

0

​

​

0

​

​

27

​

​

0

​

​

0

​

​

27

Adjustment for defined benefit pension plan

​

​

0

​

​

0

​

​

0

​

​

0

​

​

346

​

​

346

Adjustment for unrealized loss on available for sale securities

​

​

0

​

​

0

​

​

0

​

​

0

​

​

(1,039)

​

​

(1,039)

Market value adjustment for interest rate hedge

​

​

0

​

​

0

​

​

0

​

​

0

​

​

64

​

​

64

Common stock issued

​

​

2

​

​

0

​

​

705

​

​

0

​

​

0

​

​

707

Common stock cash dividend

​

​

0

​

​

0

​

​

0

​

​

(508)

​

​

0

​

​

(508)

Balance at March 31, 2026

​

$

272

​

$

(84,791)

​

$

147,802

​

$

65,398

​

$

(7,978)

​

$

120,703

Net income

​

​

0

​

​

0

​

​

0

​

​

2,738

​

​

0

​

​

2,738

Adjustment for unrealized gain on available for sale securities

​

​

0

​

​

0

​

​

0

​

​

0

​

​

137

​

​

137

Market value adjustment for interest rate hedge

​

​

0

​

​

0

​

​

0

​

​

0

​

​

16

​

​

16

Common stock cash dividend

​

​

0

​

​

0

​

​

0

​

​

(510)

​

​

0

​

​

(510)

Balance at June 30, 2026

​

$

272

​

$

(84,791)

​

$

147,802

​

$

67,626

​

$

(7,825)

​

$

123,084

​

​

2025

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Common Stock

​

Treasury Stock

​

Surplus

​

RETAINED EARNINGS

​

ACCUMULATED OTHER COMPREHENSIVE LOSS

​

TOTAL

Balance at December 31, 2024

​

$

268

​

$

(84,791)

​

$

146,372

​

$

60,482

​

$

(15,083)

​

$

107,248

Net income

​

​

0

​

​

0

​

​

0

​

​

1,908

​

​

0

​

​

1,908

Adjustment for unrealized gain on available for sale securities

​

​

0

​

​

0

​

​

0

​

​

0

​

​

2,124

​

​

2,124

Market value adjustment for interest rate hedge

​

​

0

​

​

0

​

​

0

​

​

0

​

​

(25)

​

​

(25)

Common stock cash dividend

​

​

0

​

​

0

​

​

0

​

​

(496)

​

​

0

​

​

(496)

Balance at March 31, 2025

​

$

268

​

$

(84,791)

​

$

146,372

​

$

61,894

​

$

(12,984)

​

$

110,759

Net loss

​

​

0

​

​

0

​

​

0

​

​

(282)

​

​

0

​

​

(282)

Adjustment for unrealized gain on available for sale securities

​

​

0

​

​

0

​

​

0

​

​

0

​

​

901

​

​

901

Market value adjustment for interest rate hedge

​

​

0

​

​

0

​

​

0

​

​

0

​

​

38

​

​

38

Common stock cash dividend

​

​

0

​

​

0

​

​

0

​

​

(495)

​

​

0

​

​

(495)

Balance at June 30, 2025

​

$

268

​

$

(84,791)

​

$

146,372

​

$

61,117

​

$

(12,045)

​

$

110,921

Net income

​

​

0

​

​

0

​

​

0

​

​

2,544

​

​

0

​

​

2,544

Adjustment for unrealized gain on available for sale securities

​

​

0

​

​

0

​

​

0

​

​

0

​

​

1,610

​

​

1,610

Market value adjustment for interest rate hedge

​

​

0

​

​

0

​

​

0

​

​

0

​

​

(5)

​

​

(5)

Common stock cash dividend

​

​

0

​

​

0

​

​

0

​

​

(495)

​

​

0

​

​

(495)

Balance at September 30, 2025

​

$

268

​

$

(84,791)

​

$

146,372

​

$

63,166

​

$

(10,440)

​

$

114,575

Net income

​

​

0

​

​

0

​

​

0

​

​

1,442

​

​

0

​

​

1,442

Exercise of stock options and stock option expense

​

​

0

​

​

0

​

​

9

​

​

0

​

​

0

​

​

9

Common stock issuable

​

​

2

​

​

0

​

​

689

​

​

0

​

​

0

​

​

691

Adjustment for defined benefit pension plan

​

​

0

​

​

0

​

​

0

​

​

0

​

​

2,215

​

​

2,215

Adjustment for unrealized gain on available for sale securities

​

​

0

​

​

0

​

​

0

​

​

0

​

​

843

​

​

843

Market value adjustment for interest rate hedge

​

​

0

​

​

0

​

​

0

​

​

0

​

​

33

​

​

33

Common stock cash dividend

​

​

0

​

​

0

​

​

0

​

​

(496)

​

​

0

​

​

(496)

Balance at December 31, 2025

​

$

270

​

$

(84,791)

​

$

147,070

​

$

64,112

​

$

(7,349)

​

$

119,312

​

​

AMERISERV FINANCIAL, INC.

NASDAQ: ASRV

RECONCILIATION OF NON-GAAP FINANCIAL MEASURES

RETURN ON AVERAGE TANGIBLE COMMON EQUITY, TANGIBLE COMMON EQUITY RATIO, AND TANGIBLE BOOK VALUE PER SHARE

(Dollars in thousands, except share, per share, and ratio data)

(Unaudited)

​

The press release contains certain financial information determined by methods other than in accordance with generally accepted accounting principles in the United States (GAAP).  These non-GAAP financial measures are "return on average tangible common equity", "tangible common equity ratio", and "tangible book value per share".  This non-GAAP disclosure has limitations as an analytical tool and should not be considered in isolation or as a substitute for analysis of the Company's results as reported under GAAP, nor is it necessarily comparable to non-GAAP performance measures that may be presented by other companies.  These non-GAAP measures are used by management in their analysis of the Company's performance or, management believes, facilitate an understanding of the Company's performance.  We also believe that presenting non-GAAP financial measures provides additional information to facilitate comparison of our historical operating results and trends in our underlying operating results.  We consider quantitative and qualitative factors in assessing whether to adjust for the impact of items that may be significant or that could affect an understanding of our ongoing financial and business performance or trends.  

​

2026

​ ​ ​ ​ ​ ​ ​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​ ​

​

​

​

​

​ ​ ​

​

​

​

​

1QTR

​

​

​

2QTR

​

YEAR TO DATE

​

RETURN ON AVERAGE TANGIBLE COMMON EQUITY

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Net income (loss)

​

​

​

​

​

​

​

$

1,794

​

​

​

$

2,738

​

$

4,532

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Average shareholders’ equity

​

​

​

​

​

​

​

​

120,676

​

​

​

​

120,362

​

​

120,518

​

Less: Average intangible assets

​

​

​

​

​

​

​

​

13,664

​

​

​

​

13,659

​

​

13,662

​

Average tangible common equity

​

​

​

​

​

​

​

​

107,012

​

​

​

​

106,703

​

​

106,856

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Return on average tangible common equity (annualized)

​

​

​

​

​

​

​

​

6.80

%

​

​

​

10.29

%

​

8.55

%

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

1QTR

​

​

​

2QTR

​

TANGIBLE COMMON EQUITY

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Total shareholders’ equity

​

​

​

​

​

​

​

$

120,703

​

​

​

$

123,084

​

Less: Intangible assets

​

​

​

​

​

​

​

​

13,662

​

​

​

​

13,658

​

Tangible common equity

​

​

​

​

​

​

​

​

107,041

​

​

​

​

109,426

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

TANGIBLE ASSETS

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Total assets

​

​

​

​

​

​

​

​

1,472,654

​

​

​

​

1,460,481

​

Less: Intangible assets

​

​

​

​

​

​

​

​

13,662

​

​

​

​

13,658

​

Tangible assets

​

​

​

​

​

​

​

​

1,458,992

​

​

​

​

1,446,823

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Tangible common equity ratio

​

​

​

​

​

​

​

​

7.34

%

​

​

​

7.56

%

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Total shares outstanding

​

​

​

​

​

​

​

​

16,964,267

​

​

​

​

16,964,267

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Tangible book value per share

​

​

​

​

​

​

​

$

6.31

​

​

​

$

6.45

​

​

​

​

2025

​ ​ ​ ​ ​ ​ ​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​ ​

​

​

​

​

​ ​ ​

​

​

​

​

​ ​ 1QTR

​

​

​

2QTR

​

YEAR TO DATE

​

RETURN ON AVERAGE TANGIBLE COMMON EQUITY

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Net income (loss)

​

​

​

​

​

​

​

$

1,908

​

​

​

$

(282)

​

$

1,626

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Average shareholders’ equity

​

​

​

​

​

​

​

​

108,706

​

​

​

​

110,939

​

​

109,829

​

Less: Average intangible assets

​

​

​

​

​

​

​

​

13,684

​

​

​

​

13,679

​

​

13,682

​

Average tangible common equity

​

​

​

​

​

​

​

​

95,022

​

​

​

​

97,260

​

​

96,147

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Return on average tangible common equity (annualized)

​

​

​

​

​

​

​

8.14

%

​

​

​

(1.16)

%

​

3.41

%

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

1QTR

​

2QTR

​

3QTR

​

​

​

4QTR

​

TANGIBLE COMMON EQUITY

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Total shareholders’ equity

​

$

110,759

​

$

110,921

​

$

114,575

​

​

​

$

119,312

​

Less: Intangible assets

​

​

13,682

​

​

13,677

​

​

13,672

​

​

​

​

13,667

​

Tangible common equity

​

​

97,077

​

​

97,244

​

​

100,903

​

​

​

​

105,645

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

TANGIBLE ASSETS

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Total assets

​

​

1,431,524

​

​

1,448,733

​

​

1,461,494

​

​

​

​

1,453,813

​

Less: Intangible assets

​

​

13,682

​

​

13,677

​

​

13,672

​

​

​

​

13,667

​

Tangible assets

​

​

1,417,842

​

​

1,435,056

​

​

1,447,822

​

​

​

​

1,440,146

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Tangible common equity ratio

​

​

6.85

%

​

6.78

%

​

6.97

%

​

​

​

7.34

%

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Total shares outstanding

​

​

16,519,267

​

​

16,519,267

​

​

16,519,267

​

​

​

​

16,522,267

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Tangible book value per share

​

$

5.88

​

$

5.89

​

$

6.11

​

​

​

$

6.39

​

​

Filing Exhibits & Attachments

5 documents

Press Releases

• EX-99.1 EX-99.1 1.2 MB

Other Documents

• EX-101 EX-101.SCH 3.4 KB
• EX-101 EX-101.DEF 2.8 KB
• EX-101 EX-101.LAB 16.2 KB
• EX-101 EX-101.PRE 9.4 KB