AmeriServ Financial to Present at ABA Community Bank Investor Conference
October 28 2008 - 8:30AM
PR Newswire (US)
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. The AmeriServ Community Bank Investor Conference
presentation will be webcast live, and also made available online
for later replay. For information or to view the presentation,
logon to:
http://www.corporate-ir.net/ireye/confLobby.zhtml?ticker=ASRV&item_id=1997781
DATASOURCE: AmeriServ Financial CONTACT: Jeffrey Powers of
AmeriServ Financial, +1-814-533-5277 Web site:
http://www.ameriservfinancial.com/
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