AmeriServ Financial Inc 2024年度报告

You Are Next. When you come to AmeriServ, it’s your turn for flexible checking options.You’re on deck for prudent wealth management.You’re up for secure online banking.You’re positioned for confident retirement planning.Your moment is here for a small business loan.You’rethis closeto owning your dream home. Whatever your banking needs may be, we know you well enough to placeyou at the head of the line. That’s why we say, at AmeriServ, You Are Next. Contents. Customer Highlights2Financial Highlights14A Message to Our Shareholders16Operational Review19Branch Locations24 Amara PappanDirector of BusinessDevelopmentByzantine, Inc. Spiro PappanOwner and PresidentByzantine, Inc. Commercial Banking. “We have been proud customersof AmeriServ since 2012. Our long-standing relationship with AmeriServand Mitch Edwards has been definedby clear communication, competitivefinancing options, and exceptionalcustomer service to support our realestate development and constructionprojects. Mitch and the team haveconsistently provided prompt,professional support, ensuring aseamless experience at every stage ofthe lending process. The McKeesportproperty, financed through AmeriServ,is one of many plazas we havedeveloped with their support, whichis a true testament to the efficiencyand reliability they bring to everytransaction.” Retail Banking. “My wife and I have been withAmeriServ for over 20 years.Our experience has always beenexceptional at any AmeriServ locationbut especially at the Carrolltown office.When choosing a bank for our business,AmeriServ was the obvious choice witheasily accessible locations and onlinebanking options. AmeriServ has alwaysprovided a personal touch and theyknow us by name. We look forwardto growing our business for thecommunity and with AmeriServ.” Charles & Kristie DeckardOwnersDouble Deckard’s Deli Bob and Gina TokarHomeownersNew Construction Build Retail Lending. “Our AmeriServ Mortgage Originator,Kevin Reighard, made our transactioneasy and efficient. He made us feelvalued as customers through hisresponsive actions and thoughtfulsolutions. AmeriServ partneredwell with our builder to make theconstruction loan process seamlessand bring our dream home to life.” Technologyand Security. AmeriServ hosted a CybersecuritySymposium in October on theUniversity of Pittsburgh atJohnstown campus for businesscustomers. Keynote speakers wereexperts from the FBI and the U.S.Department of Homeland Security.The symposium capped off amonth-long customer educationeffort in tandem with National CyberSecurity Awareness Month. Dan CampbellOwner andRace Car DriverCampbell Racing Community. Campbell Racing is proud to be embarking ontheir fourth year of partnership with AmeriServ.What started out as a vision of providing aplatform for AmeriServ to be involved in the localracing community has evolved into a professionalpartnership that has proven to be beneficial for all. The success that Campbell Racing has achieved hasa direct connection to the professional support itreceives from AmeriServ. The same support theyoffer every customer that walks through their doorat a branch office. As with any competitiveenvironment you want to surroundyourself with the best in the businessand we have done that throughour partnership with AmeriServ.Whether it’s personal orbusiness banking they arethere for you just as theyare for our race team. Wealth and CapitalManagement. “I am in my 11th year at JWF Industriesand have taken advantage of AmeriServBank’s 401K program since I was hired.As an employee, it is a great benefit tohave a 401K with a generous employermatch. AmeriServ’s customer service andmonthly availability on site is an addedbenefit. The AmeriServ staff is prepared,knowledgeable, and explains terminologyin a very understandable manner.” Jimmy HershWelding Instructor/Journeyman WelderJWF Industries Financial Highlights. Our Mission. AmeriServ Financial is committedto increasing shareholder value bystriving for consistently improvingfinancial performance; providingour customers with products andexceptional service for every stepin their lifetime financial journey;cultivating an employee atmosphererooted in trust, empowerment andgrowth; and serving our communitiesthrough employee involvementand a philanthropic spirit. Pictured here areJeffrey A. Stopko,President and CEO ofAmeriServ Financial, Inc. (L)and J. Michael Adams, Jr.,Chairman of the Board (R). A Message to Our Shareholders. What’s Next After a Cycle of Stress?Recovery, Profitability, and Growth PERSPECTIVE management team achieved record revenueand profitability in 2024. As a result of effectivemanagement of client assets and improvingmarket conditions -particularly for equitysecurities with major market indexes near recordlevels- our total wealth management revenuegrew by $1.1 million or 9.3% during 2024.Overall, total non-interest income represented33% of total revenue for 2024. To appreciate the progress we made in 2024, youmight want