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AmeriServ Financial net income was $1,078,000

Christian Fernsby ▼ | October 22, 2020
AmeriServ Financial reported third quarter 2020 net income of $1,078,000.
AmeriServ Financial
AmeriServ Financial   This earnings performance was a $611,000, or 36.2%, decrease
This earnings performance was a $611,000, or 36.2%, decrease from the third quarter of 2019 when net income totaled $1,689,000.

Topics: AmeriServ Financial

The Company's net interest income in the third quarter of 2020 increased slightly by $27,000, or 0.3%, from the prior year's third quarter.

The Company's net interest margin was 2.97% for the third quarter of 2020.

Jeffrey A. Stopko, President and Chief Executive Officer, commented on the 2020 third quarter financial results: "Our community bank customer-focused business model and conservative risk management posture has served us well so far in 2020 as our Company has experienced record levels of both loans and deposits while dealing with the challenges presented by the coronavirus pandemic."