Principles of Consolidation	6 Months Ended
Jun. 30, 2021
Principles of Consolidation
Principles of Consolidation	1. Principles of Consolidation The accompanying consolidated financial statements include the accounts of AmeriServ Financial, Inc. (the Company) and its wholly-owned subsidiaries, AmeriServ Financial Bank (the Bank) and AmeriServ Trust and Financial Services Company (the Trust Company). The Bank is a Pennsylvania state-chartered full service bank with 16 locations in Pennsylvania and 1 location in Maryland. The Trust Company offers a complete range of trust and financial services and administers assets valued at $2.6 billion that are not reported on the Company’s Consolidated Balance Sheets at June 30, 2021. In addition, the Parent Company is an administrative group that provides support in such areas as audit, finance, investments, loan review, general services, and marketing. Intercompany accounts and transactions have been eliminated in preparing the Consolidated Financial Statements. The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America (generally accepted accounting principles, or GAAP) requires management to make estimates and assumptions that affect the amounts reported in the Consolidated Financial Statements and accompanying notes. Actual results may differ from these estimates and the differences may be material to the Consolidated Financial Statements. The Company’s most significant estimates relate to the allowance for loan losses, intangible assets, income taxes, investment securities, pension, and the fair value of financial instruments. On May 21, 2021, the Bank completed its acquisition of the branch and deposit customers of Citizen’s Neighborhood Bank (CNB), an operating division of Riverview Bank, located in Meyersdale, Pennsylvania and the deposit customers of the CNB branch located in Somerset, Pennsylvania, pursuant to the previously announced branch purchase and assumption agreement. The Meyersdale branch is operating under the AmeriServ name and the Somerset branch customers are being serviced from the neighboring full service AmeriServ office at 108 West Main Street. The related deposits totaled approximately $42 million and were acquired for a 3.71% deposit premium.

Principles of Consolidation

6 Months Ended

Jun. 30, 2021

1. Principles of Consolidation

The accompanying consolidated financial statements include the accounts of AmeriServ Financial, Inc. (the Company) and its wholly-owned subsidiaries, AmeriServ Financial Bank (the Bank) and AmeriServ Trust and Financial Services Company (the Trust Company). The Bank is a Pennsylvania state-chartered full service bank with 16 locations in Pennsylvania and 1 location in Maryland. The Trust Company offers a complete range of trust and financial services and administers assets valued at $2.6 billion that are not reported on the Company’s Consolidated Balance Sheets at June 30, 2021.

In addition, the Parent Company is an administrative group that provides support in such areas as audit, finance, investments, loan review, general services, and marketing. Intercompany accounts and transactions have been eliminated in preparing the Consolidated Financial Statements. The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America (generally accepted accounting principles, or GAAP) requires management to make estimates and assumptions that affect the amounts reported in the Consolidated Financial Statements and accompanying notes. Actual results may differ from these estimates and the differences may be material to the Consolidated Financial Statements. The Company’s most significant estimates relate to the allowance for loan losses, intangible assets, income taxes, investment securities, pension, and the fair value of financial instruments.

On May 21, 2021, the Bank completed its acquisition of the branch and deposit customers of Citizen’s Neighborhood Bank (CNB), an operating division of Riverview Bank, located in Meyersdale, Pennsylvania and the deposit customers of the CNB branch located in Somerset, Pennsylvania, pursuant to the previously announced branch purchase and assumption agreement. The Meyersdale branch is operating under the AmeriServ name and the Somerset branch customers are being serviced from the neighboring full service AmeriServ office at 108 West Main Street. The related deposits totaled approximately $42 million and were acquired for a 3.71% deposit premium.