Ameriserv Financial Inc. · NASDAQ:ASRV
Ameriserv Financial — Shareholder Meeting (April 2015)
47 slides from Ameriserv Financial's shareholder meeting presentation, Apr 30, 2015
Slide 1: 2015 Annual Shareholder Meeting
2015 ANNUAL SHAREHOLDER MEETING
Slide 2: Craig G. Ford, Chairman
Craig G. Ford Chairman AmeriServ Financial, Inc. ®
Slide 3: Welcome!
Welcome! • Welcome to our Annual Shareholder Meeting • We appreciate your ongoing loyalty and support .
Slide 4: Agenda
Agenda • Proxy items • Comments by Chairman of the Board • Chief Financial Officer presentation • President & CEO comments • Final report on Proxy items • Question & Answer period
Slide 5: Election of Class II Directors
Election of Class II Directors • J. Michael Adams, Jr. • Margaret A. O’Malley • Mark E. Pasquerilla • Thomas C. Slater
Slide 6: Honored Guests
Honored Guest • Elected Officials • Labor Officials • Distinguished Guests • Past Directors • Present Directors • AmeriServ ® Employees • Our Shareholders
Slide 7: Banking – An industry subject to continuing change
• Banking – An industry subject to continuing change! • AmeriServ ® – Committed to our roots! • Directors and Staff – Committed to AmeriServ ® !
Slide 8: Leadership change – A seamless transition
• Leadership cha nge – A seamless transition. • A new team – A new focus! • AmeriServ ® regards change as our friend.
Slide 9: AmeriServ: building a better community bank
AMERISERV ® • We will use the various facets of change to build a better and more valuable community bank in Johnstown .
Slide 10: Michael D. Lynch, Chief Financial Officer
Michael D. Lynch Senior Vice President Chief Financial Officer Chief Investment Officer
Slide 11: 2014 Review and 2015 First Quarter Results
• 2014 Financial Performance Review • 2015 First Quarter Financial Results
Slide 12: 2014 Financial Performance Review
2014 Financial Performance Review
Slide 13: Net Income
Net Income (Thousands) $0 $2,000 $4,000 $6,000 $8,000 2010 2011 2012 2013 2014 1,282 6,537 5,039 5,193 3,023
Slide 14: Earnings Per Share
$0.00 $0.05 $0.10 $0.15 $0.20 $0.25 $0.30 2010 2011 2012 2013 2014 $0.01 $0.24 $0.21 $0.26 $0.15 Earnings Per Share
Slide 15: Net Interest Income
Net Interest Income (Thousands) $15,000 $20,000 $25,000 $30,000 $35,000 2010 2011 2012 2013 2014 32,342 32,283 32,203 32,861 34,044
Slide 16: Net Interest Margin
Net Interest Margin 1.50% 2.00% 2.50% 3.00% 3.50% 4.00% 2010 2011 2012 2013 2014 3.79% 3.72% 3.65% 3.56% 3.52%
Slide 17: Total Average Loans
Total Average Loans (Millions) 425 525 625 725 825 2010 2011 2012 2013 2014 702 663 689 746 805
Slide 18: Residential Mortgage Loan Originations
Residential Mortgage Loan Originations ( Millions) $0 $25 $50 $75 $100 $125 2010 2011 2012 2013 2014 $95 $83 $117 $105 $80
Slide 19: Total Average Deposits
Total Average Deposits ( Millions) 500 600 700 800 900 2010 2011 2012 2013 2014 803 817 833 847 872
Slide 20: Loans to Deposits % (At Year End)
Loans to Deposits % (At Year End) 50% 60% 70% 80% 90% 100% 2010 2011 2012 2013 2014 84.64% 82.17% 87.56% 92.07% 95.66%
Slide 21: Loan Loss Provision
Loan Loss Provision (Thousands) -4,500 -500 3,500 7,500 2010 2011 2012 2013 2014 5,250 (3,575) (775) (1,100) 375 (500) (4,500)
Slide 22: Total Average Securities
Total Average Securities (Millions) 0 50 100 150 200 250 2010 2011 2012 2013 2014 171 213 199 180 169
Slide 23: Non-Interest Revenue
Non - Interest Revenue (Thousands) 8,000 10,000 12,000 14,000 16,000 18,000 2010 2011 2012 2013 2014 13,967 13,569 14,944 15,744 14,323
Slide 24: Non-Interest Expense
Non - Interest Expense (Thousands) 20,000 25,000 30,000 35,000 40,000 45,000 2010 2011 2012 2013 2014 39,696 40,038 40,641 42,223 43,372
Slide 25: Financial Results Through 1st Quarter 2015
Financial Results Through 1st Quarter 2015
Slide 26: Net Income
Net Income (Thousands) $0 $1,000 $2,000 1Q '13 2Q 3Q 4Q 1Q '14 2Q 3Q 4Q 1Q '15 1,056 1,071 1,225 1,842 930 979 365 749 1,369
Slide 27: Earnings per Share
$0.00 $0.03 $0.05 $0.08 $0.10 1Q '13 2Q 3Q 4Q 1Q '14 2Q 3Q 4Q 1Q '15 $0.05 $0.05 $0.06 $0.09 $0.05 $0.05 $0.02 $0.04 $0.07 Earnings per Share
Slide 28: Net Interest Income
Net Interest Income (Thousands) $5,000 $6,000 $7,000 $8,000 $9,000 $10,000 1Q '13 2Q 3Q 4Q 1Q '14 2Q 3Q 4Q 1Q '15 8,041 8,021 8,200 8,598 8,525 8,384 8,403 8,732 8,934
Slide 29: Average Loans
Average Loans (Millions) $450 $550 $650 $750 $850 1Q '13 2Q 3Q 4Q 1Q '14 2Q 3Q 4Q 1Q '15 728 728 755 775 787 795 809 828 842
Slide 30: Average Deposits
Average Deposits (Millions) $600 $800 $1,000 1Q '13 2Q 3Q 4Q 1Q '14 2Q 3Q 4Q 1Q '15 836 842 855 854 856 877 877 877 897
Slide 31: Loans to Deposits %
Loans to Deposits % 50% 60% 70% 80% 90% 100% Dec-12 Mar-13 Jun-13 Sep-13 Dec-13 Mar-14 Jun-14 Sep-14 Dec-14 Mar-15 86.32% 85.78% 88.62% 89.27% 91.67% 90.36% 91.51% 93.05% 96.30% 93.20%
Slide 32: Loan Loss Provision
Loan Loss Provision (Thousands) ($1,500) ($1,000) ($500) $0 $500 $1,000 1Q '13 2Q 3Q 4Q 1Q '14 2Q 3Q 4Q 1Q '15 (250) 150 0 (1,000) 0 0 0 375 250
Slide 33: Allowance for Loan Loss vs. Non-Performing Assets
Allowance for Loan Loss vs. Non - Performing Assets (Thousands) $0 $5,000 $10,000 $15,000 1Q '13 2Q 3Q 4Q 1Q '14 2Q 3Q 4Q 1Q '15 Loan Loss Reserve Non Performing Assets 250% 222% 222% 246% 309% 227% 246% 330% 318%
Slide 34: Non-Interest Income
Non - Interest Income (Thousands) $1,500 $2,500 $3,500 $4,500 1Q '13 2Q 3Q 4Q 1Q '14 2Q 3Q 4Q 1Q '15 3,817 4,075 3,985 3,867 3,532 3,638 3,593 3,560 3,712
Slide 35: Non-Interest Expense
Non - Interest Expense (Thousands) $6,000 $7,000 $8,000 $9,000 $10,000 $11,000 $12,000 1Q '13 2Q 3Q 4Q 1Q '14 2Q 3Q 4Q 1Q '15 10,622 10,442 10,414 10,745 10,737 10,621 10,410 11,244 10,770
Slide 36: Regulatory Capital Ratios
Regulatory Capital Ratios • On January 1, 2015, U.S. federal banking agencies implemented the new Basel III capital standards, which similar to the previous standards, establishes the minimum capital levels to be considered well - capitalized . • The revisions from the previous standards involve new
Slide 37: Regulatory Capital Ratios As of March 31, 2015
Regulatory Capital Ratios As of March 31, 2015
Slide 38: 2015 First Quarter Summary
2015 First Quarter Summary • Our improved performance in the first quarter was the result of revenue growth and non - interest expense reduction. • We benefitted from continued solid loan and deposit growth and the expense savings from several profitability improvement initiatives implemented in 201
Slide 39: Jeffrey A. Stopko, President & CEO
Jeffrey A. Stopko President & CEO AmeriServ Financial, Inc . ®
Slide 40: The Leading Community Bank of Choice
• AmeriServ ® – The Leading Community Bank of Choice – Strong Products – Bank, Trust & Wealth Management – Outstanding Customer Service – Maintain a Safe and Sound Balance Sheet – AmeriServ ® – Leader in Economic Development and Growth
Slide 41: Technology
• Technology – Improve Customer Service – Increase Efficiency – Address Cyber Security
Slide 42: Increase Shareholder Value
• Increase Shareholder Value – Increase Revenue / Reduce Expense – Focus on Execution! Avoid Distractions! – Efficiency & Profitability vs. Peer Group – Increase Earnings Per Share and Tangible Book Value – Consistent Earnings Promotes Capital Return to Shareholders – Address Increase in S mall Busi
Slide 43: Thank You!
Thank You! – Customers – Shareholders – AmeriServ’s Commitment to You and the C ommunities We S erve!
Slide 44: Report On Election
Report On Election
Slide 45: Question and Answer Period
Question and Answer Period
Slide 46: Slide 46
Slide 47: The Leading Community Bank of Choice
• AmeriServ ® – The Leading Community Bank of Choice – Strong Products – Bank, Trust & Wealth Management – Outstanding Customer Service – Maintain a Safe and Sound Balance Sheet – AmeriServ ® – Leader in Economic Development and Growth • Technology – Improve Service – Increase Efficiency – Address C
Ameriserv Financial — Shareholder Meeting (April 2015) on 6ix