AmeriServ Financial to Present at ABA Community Bank Investor Conference
JOHNSTOWN, Pa., Oct. 28 /PRNewswire-FirstCall/ -- AmeriServ Financial Inc.
(Nasdaq: ASRV) President and CEO Allan R. Dennison, and Senior Vice President
and Chief Financial Officer Jeffrey Stopko, will speak to a gathering of bank
stock investors later today at the American Bankers Association (ABA)
Community Bank Investor Conference in New York City.
"We have a positive message for investors," said Dennison. "With today's
widespread economic problems, it has been difficult to cause investors to take
the time to appreciate how AmeriServ has been reinvented. We're now taking
steps to be noticed by more investors."
AmeriServ's third quarter earnings, released on Oct. 13, show a 31%
improvement over the third quarter of 2007. During the first nine months of
this year, the company has increased net income by more than 84% compared to
the same nine months of 2007. This turnaround in the company's performance
occurs at a time of unprecedented turmoil in financial markets, a sign that
AmeriServ's strategic direction is sound, according to Dennison.
"We took steps to create a conservative balance sheet before any of
today's problems surfaced. These corrective actions prepared AmeriServ to face
the current economic troubles with strong capital, broad-based liquidity and
improving earnings," Dennison said. "Investors may be overlooking the value in
AmeriServ stock due to all the negative news elsewhere in financial markets."
AmeriServ Financial, Inc. is the parent of AmeriServ Financial Bank and
AmeriServ Trust & Financial Services Company.
