| Business Summary | | AmeriServ
Financial,
Inc.,
formerly
known
as
USBANCORP,
Inc.,
is
a
financial
holding
company
whose
principal
activities
consist
of
owning
and
operating
its
five
wholly
owned
subsidiary
entities,
which
include
U.S.
Bank,
USBANCORP
Trust
and
Financial
Services,
Standard
Mortgage
Corporation,
and
United
Life.
At
December
31,
2000,
the
Company
had,
on
a
consolidated
basis,
total
assets
and
deposits
of
$1.25
billion
and
$659
million,
respectively.
The
Company
and
the
subsidiary
entities
derive
substantially
all
of
their
income
from
banking
and
bank-related
services.
The
Company
functions
primarily
as
a
coordinating
and
servicing
unit
for
its
subsidiary
entities
in
general
management,
accounting
and
taxes,
loan
review,
auditing,
investment
accounting,
compliance,
marketing,
insurance
risk
management,
general
corporate
services,
and
financial
and
strategic
planning. | More
from
Market Guide: Expanded
Business Description |
| Financial Summary | | AmeriServ
Financial
is
a
financial
holding
company
for
U.S.
Bank,
USBANCORP
Trust
and
Financial
Services
Company,
and
other
non-bank
subsidiaries.
For
the
six
months
ended
6/30/01,
total
interest
income
fell
34%
to
$42.2
million.
Net
interest
income
after
loan
loss
prov.
fell
40%
to
$13.6
million.
Net
income
fell
49%
to
$1.3
million.
Results
reflect
the
exit
from
the
wholesale
mortgage
production
business,
lower
net
interest
margin
and
lower
service
charges
on
deposits. | More
from
Market Guide: Significant
Developments |
| | | | FY1999
Compensation | | Pay | Exer | |
| Orlando Hanselman, 40 Chairman,
Pres, CEO | $261K | $25.9K | Kevin O'Neil, 62 Pres
and CEO, Standard Mortgage Corp. of Georgia | 169K | 3.3K | W. Harrison Vail, 59 Pres
and CEO of Three Rivers Bank | 228K | 21.1K | Ronald Virag, 54 Pres
and CEO, USBANCORP Trust and Financial Services Company | 145K | 43.1K | Dollar amounts are as of 31-Dec-1999 and compensation values are for the fiscal year ending on that date; "Pay" is salary, bonuses, etc.; "Exer" is the value of options excercised during the fiscal year. |
| More
from
Market Guide on Officers & Directors: Expanded
List, Bios,
Compensation,
Options
|
|