AmeriServ Financial, Inc. Announces Unaudited Consolidated Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2012
January 22, 2013 at 08:00 am
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AmeriServ Financial, Inc. announced unaudited consolidated earnings results for the fourth quarter and full year ended December 31, 2012. For the quarter, the company's total interest income was $9,878,000 against $10,346,000 a year ago. Net interest income was $8,082,000 against $8,113,000 a year ago. Pretax income was $1,046,000 against $2,490,000 a year ago. Net income was $735,000 against $1,770,000 a year ago. Net income available to common shareholders was $683,000 against $1,505,000 a year ago. Return on average assets was 0.29% against 0.72% a year ago. Return on average equity was 2.60% against 6.19% a year ago.
For the year, the company's total interest income was $39,917,000 against $41,964,000 a year ago. Net interest income was $32,203,000 against $32,283,000 a year ago. Pretax income was $7,280,000 against 9,390,000 a year ago. Net income was $5,039,000 against $6,537,000 a year ago. Net income available to common shareholders was $4,211,000 against $5,153,000 a year ago. Return on average assets was 0.51% against 0.68% a year ago. Return on average equity was 4.51% against 5.90% 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.