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SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

12 Months Ended

Dec. 31, 2022

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Schedule of Earnings Per Common Share

​

​	​	​	​	​	​	​	​	​	​
​	​	YEAR ENDED DECEMBER 31,
​		2022			2021			2020
​	​	(IN THOUSANDS, EXCEPT PER SHARE DATA)
Numerator:	​	​	​	​	​	​	​	​	​
Net income	​	$	7,448	​	$	7,072	​	$	4,598
Denominator:	​			​			​
Weighted average common shares outstanding (basic)	​		17,107	​		17,073	​		17,053
Effect of stock options	​		39	​		41	​		10
Weighted average common shares outstanding (diluted)	​		17,146	​		17,114	​		17,063
Earnings per common share:	​			​			​
Basic	​	$	0.44	​	$	0.41	​	$	0.27
Diluted	​		0.43	​		0.41	​		0.27

​

Schedule of non-cash assets acquired and liabilities assumed

On May 21, 2021, AmeriServ Financial Bank completed its acquisition from Citizen’s Neighborhood Bank (CNB), an operating division of Riverview Bank, the branch and related deposit customers in Meyersdale, Pennsylvania and the deposit customers in Somerset, Pennsylvania. In addition to the branch acquisition related information disclosed on the Consolidated Statements of Cash Flows, the following were recorded as non-cash transfers on the corresponding lines of the Consolidated Balance Sheets as of December 31, 2021 (in thousands).

​	​	​	​
Acquisition of Riverview Bank Branches	​	​	​
Non-cash assets acquired	​		​
Loans	​	$	36
Other premises and equipment, net	​		158
Intangible assets	​	​	1,844
​	​	​	2,038
Non-cash liabilities assumed	​		​
Non-interest bearing deposits	​	​	(7,372)
Interest bearing deposits	​		(35,060)
Other liabilities	​		(37)
​	​	​	(42,469)
Net non-cash liabilities assumed	​	$	(40,431)

​

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- Definition

Tabular disclosure of an entity's basic and diluted earnings per share calculations, including a reconciliation of numerators and denominators of the basic and diluted per-share computations for income from continuing operations.

+ References

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 50
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Tabular disclosure of acquisition of assets or a business through noncash (or part noncash) transactions. Noncash is defined as information about all investing and financing activities of an enterprise during a period that affect recognized assets or liabilities but that do not result in cash receipts or cash payments in the period. "Part noncash" refers to that portion of the transaction not resulting in cash receipts or cash payments in the period. Disclosure may include the equity interest acquired, value of assets acquired, value of liabilities acquired, net monetary assets acquired, number of shares, warrants or options issued as consideration for a business or asset acquired and other information necessary to a fair presentation.

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