AmeriServ Financial Q1 2024 net income $1.9M ($0.11 EPS), up 25.7% YoY

AMERISERV FINANCIAL INC /PA/

2024-Q1 EPS reported $0.11 revenue$4,058,000

Net income $1.904M, diluted EPS $0.11, vs $1.515M ($0.09) in Q1 2023, a 25.7% increase.
Net interest margin 2.70%, down 33 bps YoY but up 7 bps from Q4 2023, reversing five-quarter decline.
Provision for credit losses recovery of $557,000 vs $1.179M expense in Q1 2023, a favorable swing of $1.7M.
Wealth management fees rose 19.3% to record level; assets under management $2.6B, up 10.6% YoY.
Non-interest expense down 0.8% YoY; professional fees decreased 23.4% due to lower legal and activist costs.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

AMERISERV FINANCIAL INC /PA/ reported first quarter 2024 results: net income $1,904,000, EPS $0.11 per diluted common share.

Period: first quarter 2024
Net income: $1,904,000
EPS: $0.11 per diluted common share
Result: reported results

Exact text from the filing

AMERISERV FINANCIAL, Inc. (the "Registrant") announced first quarter 2024 results through March 31, 2024.

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AMERISERV FINANCIAL INC /PA/ filing history →

Source: SEC EDGAR

accession 0001558370-24-005154

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