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STOCK COMPENSATION PLANS
 12 Months Ended
Dec. 31, 2012
STOCK COMPENSATION PLANS [Abstract]  
STOCK COMPENSATION PLANS

18. STOCK COMPENSATION PLANS

The Company uses the modified perspective method for accounting for stock-based compensation and recognized $38,000 of pretax compensation expense for the year 2012, $15,000 in 2011 and $18,000 in 2010.

During 2011, the Company's Board of Directors adopted, and its shareholders approved, the AmeriServ Financial, Inc. 2011 Stock Incentive Plan (the Plan) authorizing the grant of options or restricted stock covering 800,000 shares of common stock. This Plan replaced the expired 2001 Stock Option Plan. Under the Plan, options or restricted stock can be granted (the Grant Date) to directors, officers, and employees that provide services to the Company and its affiliates, as selected by the compensation committee of the Board of Directors. The option price at which a stock option granted during 2012 may be exercised was not less than 100% of the fair market value per share of common stock on the Grant Date. The maximum term of any option granted under the Plan cannot exceed 10 years. Generally, options vest over a three year period and become exercisable in equal installments over the vesting period. At times, options with a one year vesting period may also be issued.

A summary of the status of the Company's Stock Incentive Plan at December 31, 2012, 2011, and 2010, and changes during the years then ended is presented in the table and narrative following:

                         
    YEAR ENDED DECEMBER 31
     2012   2011   2010
     SHARES   WEIGHTED AVERAGE EXERCISE PRICE   SHARES   WEIGHTED AVERAGE EXERCISE PRICE   SHARES   WEIGHTED AVERAGE EXERCISE PRICE
Outstanding at beginning of year     313,612     $ 3.02       257,287     $ 3.18       293,609     $ 4.23  
Granted     164,241       2.73       58,575       2.25       105,041       1.78  
Exercised     (1,500)       1.70       (750 )      1.70       -       -  
Forfeited     (77,982)       5.47       (1,500 )      1.70       (141,363 )      4.31  
Outstanding at end of year     398,371       2.43       313,612       3.02       257,287       3.18  
Exercisable at end of year     167,624       2.29       179,874       3.81       118,571       4.79  
Weighted average fair value of options granted in current year            $ 0.80              $ 0.51              $ 0.39  

A total of 167,624 of the 398,371 options outstanding at December 31, 2012, are exercisable and have exercise prices between $1.53 and $5.75, with a weighted average exercise price of $2.29 and a weighted average remaining contractual life of 6.34 years. All of these options are exercisable. The remaining 230,747 options that are not yet exercisable have exercise prices between $1.53 and $2.80, with a weighted average exercise price of $2.50 and a weighted average remaining contractual life of 8.82 years. The fair value of each option grant is estimated on the date of grant using the Black-Scholes option pricing model with the following assumptions used for grants in 2012, 2011, and 2010.

             
    YEAR ENDED DECEMBER 31
BLACK-SCHOLES ASSUMPTION RANGES   2012   2011   2010
Risk-free interest rate     1.66 - 2.28%       2.19 - 3.62 %      3.21 - 3.83 % 
Expected lives in years     10       10       10  
Expected volatility     33.26 - 35.77%       35.03 - 35.25 %      34.60 - 35.74 % 
Expected dividend rate     0%       0 %      0 %