The bank maintains a conservative capital structure with an equity-to-assets ratio of 0.08, though total assets have remained stagnant at $1.5 billion since 2025Q3.
| Metric | TTM | Dec'25 | Dec'24 | Dec'23 | Dec'22 | Dec'21 | Dec'20 | Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | Dec'11 | Dec'10 | Dec'09 | Dec'08 | Dec'07 | Dec'06 | Dec'05 | Dec'04 | Dec'03 | Dec'02 | Dec'01 | Dec'00 | Dec'99 | Dec'98 | Dec'97 | Dec'96 |
|---|
| Cash & Short Term Investments | 217.95M | 68.99M | 173.37M | 179.74M | 202.47M | 204.27M | 175.67M | 163.92M | 181.63M | 163.33M | 161.15M | 167.98M | 159.98M | 172.04M | 178.36M | 217.71M | 15.88M | 22.54M | 19.55M | 24.91M | 23.9M | 20.96M | 20.57M | 24.77M | 27.17M | 29.12M | 35.87M | 55.5M | 38.9M | 38.2M | 44.4M |
| Cash & Due from Banks | 13.06M | 50.89M | 17.75M | 14.03M | 22.96M | 41.1M | 31.5M | 22.17M | 34.89M | 34.19M | 34.07M | 48.51M | 32.87M | 30M | 26.82M | 34.78M | 15.88M | 22.54M | 19.55M | 24.91M | 23.9M | 20.96M | 20.57M | 24.77M | 27.17M | 29.12M | 35.87M | 55.5M | 38.9M | 38.2M | 44.4M |
| Short Term Investments | 0 | 18.1M | 155.62M | 165.71M | 179.51M | 163.17M | 144.16M | 141.75M | 146.73M | 129.14M | 127.08M | 119.47M | 127.11M | 141.98M | 151.54M | 182.92M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total Investments | 1.34B | 1.28B | 1.27B | 1.25B | 1.22B | 1.19B | 1.16B | 1.06B | 1.04B | 1.05B | 1.03B | 1.01B | 969.46M | 936.81M | 884.43M | 851.43M | 832M | 847.44M | 840.87M | 792.38M | 783.5M | 773.38M | 912.54M | 1.04B | 1.07B | 1.09B | 1.13B | 2.27B | 2.23B | 2.09B | 1.91B |
| Investments Growth % | 9.43% | 0.13% | 1.67% | 2.58% | 2.6% | 3.04% | 9% | 1.73% | -0.81% | 1.52% | 1.94% | 4.69% | 3.49% | 5.92% | 3.88% | 2.33% | -1.82% | 0.78% | 6.12% | 1.13% | 1.31% | -15.25% | -12.62% | -2.28% | -2.16% | -3.73% | -50.08% | 2.14% | 6.47% | 9.21% | 12.21% |
| Long-Term Investments | 5.11B | 1.26B | 1.12B | 1.09B | 1.04B | 1.03B | 1.01B | 918.23M | 895.22M | 921.3M | 907.59M | 895.49M | 842.35M | 794.83M | 732.89M | 668.5M | 832M | 847.44M | 840.87M | 792.38M | 783.5M | 773.38M | 912.54M | 1.04B | 1.07B | 1.09B | 1.13B | 2.27B | 2.23B | 2.09B | 1.91B |
| Accounts Receivables | 0 | 5.56M | 5.49M | 5.53M | 4.8M | 3.98M | 5.07M | 3.45M | 3.49M | 3.6M | 3.12M | 3.06M | 3.13M | 2.91M | 2.96M | 3.22M | 3.21M | 3.59M | 3.73M | 4.03M | 4.17M | 4.13M | 4.29M | 4.92M | 6.07M | 6.67M | 0 | 16.7M | 17.2M | 17.3M | 17.4M |
| Goodwill & Intangibles | 13.66M | 13.67M | 13.69M | 13.71M | 13.74M | 13.77M | 11.94M | 11.94M | 11.94M | 11.94M | 11.94M | 11.94M | 11.94M | 12.61M | 12.61M | 12.61M | 12.95M | 12.95M | 13.61M | 14.47M | 11.38M | 12.25M | 13.11M | 14.26M | 6.07M | 6.67M | 0 | 16.7M | 17.2M | 17.3M | 17.4M |
| Goodwill | 13.61M | 13.61M | 13.61M | 13.61M | 13.61M | 13.61M | 11.94M | 11.94M | 11.94M | 11.94M | 11.94M | 11.94M | 11.94M | 12.61M | 12.61M | 12.61M | 12.95M | 12.95M | 13.5M | 13.5M | 9.54M | 9.54M | 9.54M | 9.54M | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Intangible Assets | 51K | 56K | 77K | 101K | 128K | 158K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 108K | 973K | 1.84M | 2.7M | 3.57M | 4.72M | 6.07M | 6.67M | 0 | 16.7M | 17.2M | 17.3M | 17.4M |
| PP&E (Net) | 17.28M | 17.43M | 18.11M | 17.18M | 17.5M | 17.43M | 18.05M | 18.57M | 13.35M | 12.73M | 11.69M | 12.11M | 13.01M | 13.12M | 11.8M | 10.67M | 10.48M | 9.23M | 9.52M | 8.45M | 8.56M | 8.69M | 9.69M | 11.14M | 12.67M | 13.47M | 13.53M | 18.9M | 18M | 17.6M | 18.2M |
| Other Assets | 84.15M | 90.69M | 91.97M | 83.47M | 80.61M | 68.71M | 59.21M | 51.1M | 51.42M | 48.79M | 47.63M | 48.93M | 49.3M | 50.95M | 49.46M | 51.87M | 55.32M | 53.81M | 67M | 60.64M | 64.48M | 60.77M | 49.77M | 46.7M | 45.02M | 32.17M | 40.32M | 77.88M | 59M | 56.9M | 71.8M |
| Total Current Assets | 19.1M | 74.55M | 178.85M | 185.27M | 207.27M | 208.26M | 180.74M | 167.37M | 185.11M | 166.93M | 164.27M | 171.03M | 163.11M | 174.95M | 182.76M | 222.74M | 22.16M | 30.67M | 23.28M | 28.94M | 28.07M | 25.09M | 24.86M | 29.41M | 33.24M | 35.79M | 35.87M | 72.2M | 56.2M | 55.5M | 61.8M |
| Total Non-Current Assets | 1.45B | 1.38B | 1.24B | 1.2B | 1.16B | 1.13B | 1.1B | 1B | 975.57M | 1B | 989.51M | 977.46M | 926.15M | 881.08M | 818.23M | 756.34M | 926.82M | 939.36M | 943.65M | 875.93M | 868.75M | 855.09M | 985.12M | 1.12B | 1.14B | 1.16B | 1.22B | 2.4B | 2.32B | 2.18B | 2.03B |
| Total Assets | 1.47B | 1.45B | 1.42B | 1.39B | 1.36B | 1.34B | 1.28B | 1.17B | 1.16B | 1.17B | 1.15B | 1.15B | 1.09B | 1.06B | 1B | 979.08M | 948.97M | 970.03M | 966.93M | 904.88M | 895.99M | 880.18M | 1.01B | 1.15B | 1.18B | 1.2B | 1.25B | 2.47B | 2.38B | 2.24B | 2.09B |
| Asset Growth % | 12.32% | 2.21% | 2.35% | 1.89% | 2.12% | 4.12% | 9.52% | 0.91% | -0.6% | 1.2% | 0.42% | 5.48% | 3.15% | 5.5% | 2.24% | 3.17% | -2.17% | 0.32% | 6.86% | 0.99% | 1.8% | -12.85% | -12.01% | -2.35% | -1.94% | -4.42% | -49.17% | 3.8% | 6.16% | 7.28% | 10.7% |
| Return on Assets (ROA) | 0.38% | 0.39% | 0.26% | -0.24% | 0.55% | 0.54% | 0.37% | 0.52% | 0.67% | 0.28% | 0.2% | 0.54% | 0.28% | 0.5% | 0.51% | 0.68% | 0.13% | -0.51% | 0.59% | 0.34% | 0.26% | -0.97% | -0.9% | 0.05% | -0.43% | 0.16% | 0.09% | 0.84% | 0.91% | 1.09% | 1.01% |
| Accounts Payable | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total Debt | 71.5M | 75.31M | 101.69M | 115.56M | 138.37M | 72.84M | 114.08M | 100.57M | 108.18M | 115.7M | 78.64M | 117.06M | 93.97M | 79.64M | 41.74M | 34.85M | 27.39M | 64.66M | 146.86M | 95.2M | 63.12M | 77.26M | 269.17M | 410.21M | 375.63M | 424.67M | 500.58M | 159.2M | 1.03B | 913.1M | 770.2M |
| Net Debt | 58.44M | 24.42M | 83.94M | 101.53M | 115.41M | 31.74M | 82.58M | 78.41M | 73.28M | 81.51M | 44.57M | 68.97M | 61.09M | 49.57M | 14.93M | 67K | 11.51M | 42.12M | 127.32M | 70.29M | 39.22M | 56.3M | 248.6M | 385.43M | 348.46M | 395.54M | 464.71M | 103.7M | 987.6M | 874.9M | 725.8M |
| Long-Term Debt | 53.62M | 71.38M | 82.78M | 71.25M | 46.41M | 69.26M | 85.49M | 74.13M | 67.15M | 66.62M | 65.89M | 68.31M | 55.09M | 38.09M | 26.09M | 19.09M | 22.84M | 38.89M | 26.94M | 13.09M | 13.09M | 14.07M | 117.23M | 265.56M | 274.85M | 34.5M | 36.14M | 41.6M | 574.9M | 127.8M | 609.7M |
| Short-Term Debt | 14.05M | 0 | 14.64M | 40.95M | 88.64M | 0 | 24.7M | 22.41M | 41.03M | 49.08M | 12.75M | 48.75M | 38.88M | 41.55M | 15.66M | 15.77M | 4.55M | 25.77M | 119.92M | 82.11M | 50.04M | 63.18M | 151.94M | 144.64M | 100.79M | 390.17M | 464.44M | 117.6M | 451.7M | 781.5M | 155.8M |
| Other Liabilities | 1.28B | 9.43M | 12.43M | 13.45M | 10.79M | 5.86M | 9.33M | 11.48M | 5.36M | 8.91M | 11.95M | 9.17M | 11.01M | 8.57M | 13.04M | 15.45M | 13.31M | 12.1M | 11.86M | 8.95M | 6.43M | 5.79M | 11.2M | 8.81M | 52.23M | 18.36M | 16.21M | 964.68M | 32.5M | 28.3M | 26.3M |
| Total Current Liabilities | 14.05M | 1.25B | 1.22B | 1.2B | 1.2B | 1.14B | 1.08B | 982.92M | 990.2M | 997.03M | 980.54M | 952.04M | 908.76M | 896.08M | 851.39M | 832.18M | 805.77M | 811.79M | 814.88M | 792.55M | 791.79M | 775.84M | 796.33M | 799.24M | 770.72M | 1.07B | 1.12B | 1.35B | 1.63B | 1.92B | 1.29B |
| Total Non-Current Liabilities | 1.34B | 86.37M | 99.48M | 88.05M | 60.52M | 79.63M | 98.71M | 89.64M | 72.5M | 75.52M | 77.84M | 77.48M | 66.09M | 46.65M | 39.13M | 34.54M | 36.15M | 50.99M | 38.8M | 22.03M | 19.52M | 19.86M | 128.43M | 274.38M | 327.08M | 52.86M | 52.35M | 1.01B | 607.4M | 159.9M | 640.7M |
| Total Liabilities | 1.35B | 1.33B | 1.32B | 1.29B | 1.26B | 1.22B | 1.18B | 1.07B | 1.06B | 1.07B | 1.06B | 1.03B | 974.86M | 942.73M | 890.52M | 866.72M | 841.92M | 862.77M | 853.68M | 814.58M | 811.31M | 795.7M | 924.76M | 1.07B | 1.1B | 1.12B | 1.18B | 2.35B | 2.24B | 2.08B | 1.94B |
| Total Equity | 120.7M | 119.31M | 107.25M | 102.28M | 106.18M | 116.55M | 104.4M | 98.61M | 97.98M | 95.1M | 95.39M | 118.97M | 114.41M | 113.31M | 110.47M | 112.35M | 107.06M | 107.25M | 113.25M | 90.29M | 84.68M | 84.47M | 85.22M | 74.27M | 77.76M | 79.49M | 78.41M | 112.6M | 141.7M | 158.2M | 151.9M |
| Equity Growth % | 33.14% | 11.25% | 4.86% | -3.67% | -8.9% | 11.64% | 5.87% | 0.65% | 3.02% | -0.31% | -19.82% | 3.99% | 0.97% | 2.57% | -1.68% | 4.95% | -0.18% | -5.3% | 25.43% | 6.62% | 0.25% | -0.87% | 14.74% | -4.48% | -2.18% | 1.38% | -30.37% | -20.54% | -10.43% | 4.15% | 0.93% |
| Equity / Assets (Capital Ratio) | 8.2% | 8.21% | 7.54% | 7.36% | 7.79% | 8.73% | 8.14% | 8.42% | 8.44% | 8.14% | 8.27% | 10.36% | 10.5% | 10.73% | 11.04% | 11.48% | 11.28% | 11.06% | 11.71% | 9.98% | 9.45% | 9.6% | 8.44% | 6.47% | 6.61% | 6.63% | 6.25% | 4.56% | 5.96% | 7.07% | 7.28% |
| Return on Equity (ROE) | 4.72% | 4.95% | 3.44% | -3.21% | 6.69% | 6.4% | 4.53% | 6.13% | 8.05% | 3.46% | 2.16% | 5.14% | 2.66% | 4.64% | 4.52% | 5.96% | 1.2% | -4.44% | 5.41% | 3.47% | 2.76% | -10.77% | -12.19% | 0.72% | -6.55% | 2.5% | 1.8% | 16.04% | 14.07% | 15.16% | 13.23% |
| Book Value per Share | 7.13 | 7.22 | 6.38 | 5.97 | 6.19 | 6.81 | 6.12 | 5.65 | 5.43 | 5.11 | 5.03 | 6.28 | 6.05 | 5.95 | 5.59 | 5.30 | 5.04 | 5.07 | 5.15 | 4.07 | 3.82 | 4.15 | 5.76 | 5.33 | 5.58 | 5.86 | 5.86 | 8.37 | 9.94 | 10.36 | 9.64 |
| Tangible BV per Share | 6.32 | 6.39 | 5.57 | 5.17 | 5.39 | 6.01 | 5.42 | 4.97 | 4.77 | 4.47 | 4.40 | 5.65 | 5.42 | 5.29 | 4.96 | 4.70 | 4.43 | 4.45 | 4.53 | 3.42 | 3.31 | 3.55 | 4.88 | 4.30 | 5.15 | 5.37 | 5.86 | 7.13 | 8.73 | 9.22 | 8.54 |
| Common Stock | 272K | 270K | 268K | 268K | 267K | 267K | 267K | 267K | 266K | 266K | 265K | 265K | 264K | 264K | 264K | 264K | 264K | 264K | 65.79M | 65.7M | 65.62M | 65.51M | 59.52M | 45.12M | 44.97M | 44.33M | 43.86M | 43.5M | 43.3M | 0 | 0 |
| Additional Paid-in Capital | 147.8M | 147.07M | 146.37M | 146.36M | 146.22M | 146.07M | 145.97M | 145.89M | 145.78M | 145.71M | 145.53M | 145.44M | 145.26M | 145.19M | 145.1M | 145.06M | 145.04M | 144.87M | 79.35M | 78.79M | 78.74M | 78.62M | 75.48M | 66.81M | 66.75M | 66.42M | 66.02M | 65.7M | 65.5M | 0 | 0 |
| Retained Earnings | 65.4M | 64.11M | 60.48M | 58.9M | 65.49M | 60.01M | 54.64M | 51.76M | 46.73M | 40.31M | 36M | 34.65M | 29.62M | 27.56M | 23.14M | 18.93M | 14.6M | 14.59M | 20.53M | 15.6M | 12.57M | 10.24M | 19.38M | 29.1M | 26.05M | 35.33M | 38.24M | 104.3M | 91.7M | 78.9M | 63.4M |
| Accumulated OCI | -7.98M | -7.35M | -15.08M | -19.98M | -22.52M | -6.51M | -13.2M | -16.17M | -14.22M | -12.95M | -11.58M | -7.55M | -6.9M | -5.88M | -5.38M | -3.66M | -4.86M | -4.37M | -4.22M | -3.97M | -6.42M | -4.07M | -3.34M | -932K | 5.8M | -771K | -3.88M | -35.2M | 2.6M | 2.2M | 200K |
| Treasury Stock | -84.79M | -84.79M | -84.79M | -83.28M | -83.28M | -83.28M | -83.28M | -83.13M | -80.58M | -78.23M | -74.83M | -74.83M | -74.83M | -74.83M | -73.66M | -69.24M | -68.66M | -68.66M | -68.66M | -65.82M | -65.82M | -65.82M | -65.82M | -65.82M | -65.82M | -65.82M | -65.82M | -65.7M | -61.5M | 0 | 0 |
| Preferred Stock | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 21M | 21M | 21M | 21M | 21M | 20.67M | 20.56M | 20.45M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Regional CRE concentration risk
According to quarterly financial statements, AmeriServ's total assets have remained flat at $1.5 billion since 2025Q3, suggesting that the bank is currently prioritizing balance sheet preservation over aggressive expansion in its core Pennsylvania markets while maintaining a heavy reliance on its existing investment securities portfolio.
The lack of meaningful asset growth indicates that the bank is struggling to find high-quality lending opportunities that meet its risk-adjusted return hurdles. Investors should monitor whether this stagnation reflects a deliberate defensive posture or an inability to capture market share in a competitive regional environment.
As reported in recent regulatory filings, the equity-to-assets ratio has held steady at 0.08 through 2026Q1, which provides a modest capital cushion but remains vulnerable to the volatility in earnings and potential credit losses inherent in the bank's specialized union-labor construction loan portfolio.
While the current capital ratio appears adequate for a community bank of this size, the low return on equity suggests that capital is not being deployed with sufficient efficiency. The bank's ability to maintain these levels may be tested if the current trend of thin net interest margins persists.
Based on the provided balance sheet data, investment securities account for approximately $1.3 billion of the $1.5 billion total asset base as of 2026Q1, highlighting a significant concentration in fixed-income assets that serves as the primary source of liquidity for the institution's ongoing operations.
This heavy weighting toward securities suggests that the bank's liquidity profile is highly sensitive to interest rate fluctuations and the duration of its bond portfolio. Such a structure may limit the bank's flexibility to pivot toward higher-yielding loan opportunities should regional economic conditions improve.
Analysis of the balance sheet reveals that the bank's reliance on a $1.3 billion investment portfolio, coupled with minimal cash holdings of $13.1 million in 2026Q1, warrants further investigation into potential unrealized losses that could impact the bank's tangible book value in a sustained high-rate environment.
The disparity between the large securities portfolio and the relatively small cash position suggests that the bank may face liquidity constraints if it needs to raise capital quickly. This structural mismatch appears to be a non-obvious risk that could exacerbate the impact of any localized economic downturn in the Johnstown region.
Quick answers to the most common questions about buying ASRV stock.
As of 2025, AmeriServ Financial, Inc. (ASRV) had total assets of $1.45B including $74.5M in current assets.
AmeriServ Financial, Inc. (ASRV) carries total debt of $75.3M. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
AmeriServ Financial, Inc. (ASRV) has total shareholders' equity (book value) of $119.3M ($7.22 book value per share). Book value represents the net worth of the company belonging to common stock holders.
AmeriServ Financial, Inc. (ASRV) reported a current ratio of 0.06x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.