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Last Trade
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Last Trade:
$2.77
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Change:
-0.02 (-0.72%)
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Trade Time:
Jun 02
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Market Cap:
$47.50M
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Description of Business
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AmeriServ Financial, Inc. (the Company) is a bank holding company organized
under the Pennsylvania Business Corporation Law. The Company became a holding
company upon acquiring all of the outstanding shares of AmeriServ Financial Bank
(the Bank) in January 1983. The Company's other wholly owned subsidiary is
AmeriServ Trust and Financial Services Company (the Trust Company) which was
formed in October 1992. AmeriServ Life Insurance Company (AmeriServ Life),
formed in October 1987, was a captive insurance company that engaged in
underwriting as a reinsurer of credit life and disability insurance. New
business ceased being generated by AmeriServ Life in 2005. Since that time, the
outstanding insurance policies have been running off and the final policy has
expired. On September 30, 2020, the Arizona Corporation Commission approved the
Articles of Dissolution for AmeriServ Life. The remaining assets of AmeriServ
Life were transferred to AmeriServ Financial, Inc.
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