Company: ASRV
Filing Date: 2025-11-13
Form Type: 10-Q
Source: 0001104659-25-111219
Chunk: 4

Company: AMERISERV FINANCIAL INC /PA/
Filing Date: 2025-11-13
Form: 10-Q
Item: Item 2M
Chunk 4
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Item 2.MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS (“MD&A”)

THREE MONTHS ENDED SEPTEMBER 30, 2025 VS. THREE MONTHS ENDED SEPTEMBER 30, 2024

…..PERFORMANCE OVERVIEW…..The following table summarizes some of the Company’s key performance indicators (in thousands, except per share and ratios).

​​​​​​​​​    Three months ended     Three months ended  ​​September 30, 2025​September 30, 2024 Net income​$ 2,544​$ 1,183​Diluted earnings per share​  0.15​  0.07​Return on average assets (annualized)​  0.70%    0.34%Return on average equity (annualized)​  9.06%    4.51%

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The Company reported third quarter 2025 net income of $2,544,000, or $0.15 per diluted common share. This performance represented a $1,361,000, or 115.0%, improvement from the third quarter of 2024 when net income totaled $1,183,000, or $0.07 per diluted common share. Record quarterly earnings were achieved in the third quarter of 2025 due to the Company’s continued focus on generating positive operating leverage. The increase in total revenue was caused by meaningful improvement in net interest income as the third quarter net interest margin increased by 56-basis points from the prior year’s third quarter leading to a $2.1 million increase in net interest income. In addition, the Company’s increased third quarter earnings reflected continued improvement in core performance along with higher than typical revenue from income sources such as loan prepayment fees and bank owned life insurance (BOLI).