Brief: Ameriserv Financial Expects To Recognize Increased Provision For Credit Losses In Q4

Ameriserv Financial

12/01/2024 13:36

Jan 12 (Reuters) - Ameriserv Financial Inc  ASRV.O :
    * AMERISERV FINANCIAL INC: EXPECTS TO RECOGNIZE AN INCREASED
PROVISION FOR CREDIT LOSSES AND HIGHER NET CHARGE-OFFS IN Q4
    * AMERISERV FINANCIAL INC: EXPECTS TO REPORT A NET LOSS FOR
Q4 OF
2023 OF ABOUT $5.4 MILLION
    * AMERISERV FINANCIAL INC - EXPECTS TO RECOGNIZE NET
CHARGE-OFFS
OF ABOUT $3.3 MILLION, IN FOURTH QUARTER OF 2023 DUE PRIMARILY
TO RITE AID BANKRUPTCY
    * AMERISERV FINANCIAL -  EXPECTS TO RECOGNIZE TOTAL
PROVISION FOR
CREDIT LOSSES OF ABOUT $6 MILLION IN Q4 OF 2023 DUE PRIMARILY TO
RITE AID BANKRUPTCY.
    * AMERISERV FINANCIAL: AFTER GIVING EFFECT TO NET LOSS,
CAPITAL
RATIOS FOR CO, BANK PROJECTED TO BE ABOVE WELL CAPITALIZED
THRESHOLD AT YEAR-END 2023

Source text for Eikon:  ID: 
Further company coverage:  ASRV.O 

 ((Reuters.Briefs@thomsonreuters.com;))