AmeriServ Financial Q3 net income rises 22%

By Reuters News


Overview

  • US community bank's Q3 net income rose 22% yr/yr

  • Q3 results driven by higher net interest income and improved net interest margin

  • Company declared $0.03 per share quarterly dividend


Outlook

  • Company expects favorable net interest margin performance to continue into fourth quarter

  • AmeriServ says it has capacity to grow loan portfolio amid economic volatility

  • Company expects continued positive results from reengineered wealth management business


Result Drivers

  • NET INTEREST INCOME - Co said higher net interest income and improved net interest margin drove Q3 results

  • CREDIT LOSS PROVISION - Lower provision for credit losses contributed to improved earnings, per co

  • WEALTH MANAGEMENT FEES - Co said higher wealth management fees contributed to growth in non-interest revenue


Company press release:


Key Details

Metric

Beat/Miss

Actual

Consensus Estimate

Q3 EPS

$0.18


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For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.


(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)

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