Ameriserv Financial Bank Mortgage Rates, Fees & Info

Johnstown, PA

LEI: 54930089UXPZ6O3RHG71

Tax ID: 25-0851535

5 stars - out of 5 stars, based on 20 reviews

2021 Data | 2020 Data | 2019 Data | 2018 Data


Overview

Ameriserv Financial Bank is a smaller bank specializing in Home Purchase and Refi loans. Ameriserv Financial Bank has a high proportion of conventional loans. They have a a low proportion of FHA loans. (This may mean they shy away from first time homebuyers.) They have a low ratio of USDA loans. Their top markets include Pittsburgh, Philadelphia, State College, Johnstown, and Somerset among others. Ameriserv Financial Bank has an above average approval rate for mortages when compared nationally. They have a below average pick rate when compared to the same sample of other lendors. Ameriserv Financial Bank is typically an average fee lendor.


Originations

403

Origination Dollar Volume (All Markets)

$112,095,000

Employee count

235 Show all (8) awards

Relative Rate

Ameriserv Financial Bank's average 30 year fixed rate mortgage of loans were 2.82%.

The 2021 average 30 year fixed rate mortgage across all markets of loans were 3.15%.

This yields a difference of -0.33%.

Relative Fees

Ameriserv Financial Bank's average total fees for a 30 year fixed rate mortgage are $3,518.

The average total origination fees for 30 year fixed rate mortgages (for all loan values, including both points & up-front fees in addition to origination fees) are $4,750.

Top Markets

Market Originations Total Value Average Loan Average Fees Average Rate
PITTSBURGH, PA (FHA|USDA|VA) 95 $40,805,000 $429,526 $3,935 2.80%
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) 69 $18,215,000 $263,986 $2,922 2.67%
STATE COLLEGE, PA (FHA|USDA|VA) 73 $17,285,000 $236,781 $3,681 2.73%
JOHNSTOWN, PA (FHA|USDA|VA) 48 $6,870,000 $143,125 $3,328 2.70%
Somerset, PA (FHA|USDA|VA) 16 $2,880,000 $180,000 $3,297 2.92%
CHAMBERSBURG-WAYNESBORO, PA (FHA|USDA|VA) 4 $2,660,000 $665,000 $2,386 3.18%
ALTOONA, PA (FHA|USDA|VA) 10 $2,500,000 $250,000 $3,312 3.16%
LANCASTER, PA (FHA|USDA|VA) 10 $2,350,000 $235,000 $2,948 2.71%
Oil City, PA (FHA|USDA|VA) 3 $2,125,000 $708,333 $2,150 2.92%
READING, PA (FHA|USDA|VA) 10 $2,070,000 $207,000 $2,700 2.80%
ALLENTOWN-BETHLEHEM-EASTON, PA-NJ (FHA|USDA|VA) 10 $1,950,000 $195,000 $2,728 2.60%
Outside of Metro Areas 5 $1,505,000 $301,000 $4,024 2.75%
ERIE, PA (FHA|USDA|VA) 3 $1,305,000 $435,000 $5,714 2.67%
HARRISBURG-CARLISLE, PA (FHA|USDA|VA) 5 $1,115,000 $223,000 $3,550 2.75%
SCRANTON--WILKES-BARRE, PA (FHA|USDA|VA) 4 $1,100,000 $275,000 $3,401 2.66%
MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) 2 $670,000 $335,000 $3,673 2.69%
YORK-HANOVER, PA (FHA|USDA|VA) 4 $640,000 $160,000 $2,344 2.53%
YOUNGSTOWN-WARREN-BOARDMAN, OH-PA (FHA|USDA|VA) 3 $605,000 $201,667 $2,986 2.67%
EAST STROUDSBURG, PA (FHA|USDA|VA) 3 $555,000 $185,000 $3,545 2.29%
Lock Haven, PA (FHA|USDA|VA) 1 $545,000 $545,000 $5,344 2.38%
LEBANON, PA (FHA|USDA|VA) 3 $515,000 $171,667 $2,453 2.75%
DuBois, PA (FHA|USDA|VA) 2 $470,000 $235,000 $3,099 2.50%
Huntingdon, PA (FHA|USDA|VA) 3 $455,000 $151,667 $3,311 2.38%
Indiana, PA (FHA|USDA|VA) 4 $440,000 $110,000 $3,078 2.72%
SALISBURY, MD-DE (FHA|USDA|VA) 1 $395,000 $395,000 $4,036 2.88%
Sayre, PA (FHA|USDA|VA) 1 $325,000 $325,000 $4,115 3.13%
HAGERSTOWN-MARTINSBURG, MD-WV (FHA|USDA|VA) 1 $275,000 $275,000 $3,264 2.75%
New Castle, PA (FHA|USDA|VA) 2 $250,000 $125,000 $2,512 2.56%
North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 1 $225,000 $225,000 $3,095 3.00%
Meadville, PA (FHA|USDA|VA) 2 $220,000 $110,000 $2,067 2.19%
HILTON HEAD ISLAND-BLUFFTON, SC (FHA|USDA|VA) 1 $205,000 $205,000 $3,134 2.38%
New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) 1 $195,000 $195,000 $2,305 2.13%
WILLIAMSPORT, PA (FHA|USDA|VA) 1 $135,000 $135,000 $3,358 3.00%
Lewistown, PA (FHA|USDA|VA) 1 $135,000 $135,000 $2,821 2.88%
Pottsville, PA (FHA|USDA|VA) 1 $105,000 $105,000 $2,467 2.25%

Ameriserv Financial Bank's top markets include Pittsburgh, Philadelphia, State College, Johnstown, and Somerset among others.

Product Mix

Loan Type Originations Total Value Average Loan Average Fees Average Rate
Conventional 398 $111,260,000 $279,548 $3,374 2.75%
FHA 2 $240,000 $120,000 $4,856 2.06%
USDA 2 $400,000 $200,000 $5,161 2.13%
VA 1 $195,000 $195,000 $7,939 2.00%

For the 2021 period, Ameriserv Financial Bank's most frequently originated loan type of loans were Conventional, with 398 originations. Their 2nd most popular type is FHA, with 2 originations.

Loan Reason

Loan Reason Originations Total Value Average Loan Average Fees Average Rate
Home Purchase 176 $55,040,000 $312,727 $3,882 2.84%
Refi 131 $34,715,000 $265,000 $2,987 2.61%
Cash Out Refi 96 $22,340,000 $232,708 $3,166 2.74%

For the 2021, Ameriserv Financial Bank's most frequently cited loan purpose of loans were Home Purchase, with 176 originations. The 2nd most popular reason of loans were Refi, with 131 originations.

Loan Duration/Length

Loan Length Originations Total Value Average Loan Average Fees Average Rate
30 Year 211 $50,955,000 $241,493 $3,518 2.82%
15 Year 95 $17,945,000 $188,895 $2,921 2.40%
20 Year 36 $7,640,000 $212,222 $2,787 2.78%
10 Year 29 $23,095,000 $796,379 $2,459 3.16%
30+ year 17 $7,375,000 $433,824 $6,780 2.68%
Other 12 $2,530,000 $210,833 $3,135 2.73%
5 Year 3 $2,555,000 $851,667 $0 3.53%

For the 2021, Ameriserv Financial Bank's most frequently cited loan length of loans were 30 Year, with 211 originations. The 2nd most popular length of loans were 15 Year, with 95 originations.

Origination Fees

Origination Fee Originations Total Value Average Loan
$<1k 359 $81,225,000 $226,253
$1k-2k 16 $4,370,000 $273,125
$2k-3k 5 $1,435,000 $287,000
$3k-4k 1 $905,000 $905,000

$3,518 of loans were Ameriserv Financial Bank's average total fees, while their most frequently occuring range of origination fees were in the $<1k bucket, with 359 originations.

Interest Rates

Loan Rate Originations Total Value Average Loan
2.5-3% 186 $45,910,000 $246,828
<2.5% 147 $30,685,000 $208,741
3-4% 66 $34,730,000 $526,212
4-5% 4 $770,000 $192,500

During 2021, Ameriserv Financial Bank's average interest rate of loans were 2.82%, while their most frequently originated rate bucket of loans were 2.5-3%, with 186 originations.

Loan Sizing

Loan Size Originations Total Value Average Loan Average Fees Average Rate
$200k-400k 164 $45,390,000 $276,768 $3,542 2.70%
$100k-200k 146 $22,100,000 $151,370 $2,857 2.69%
$100,000 or less 42 $3,090,000 $73,571 $2,507 2.72%
$400k-600k 38 $18,750,000 $493,421 $5,642 2.83%
$1MM+ 9 $19,595,000 $2,177,222 $0 3.60%
$600k-1MM 4 $3,170,000 $792,500 $10,615 3.49%

2021 saw Ameriserv Financial Bank place emphasis on $200k-400k loans with 164 originations, totaling $45,390,000 in origination value.

Applicant Income

Applicant Income Originations Total Value Average Loan Average Fees Average Rate
$100k-150k 113 $27,575,000 $244,027 $3,365 2.68%
$75k-100k 79 $14,915,000 $188,797 $3,207 2.68%
$150k-250k 73 $22,685,000 $310,753 $3,847 2.64%
$50k-75k 68 $10,380,000 $152,647 $2,735 2.70%
$50k or less 29 $3,575,000 $123,276 $3,146 2.80%
$250k+ 16 $7,670,000 $479,375 $6,160 2.84%

Ameriserv Financial Bank lent most frequently to those with incomes in the $100k-150k range, with 113 originations. The second most popular income band? $75k-100k, with 79 originations.

Applicant Debt to Income Ratio

DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
20-30% 123 $28,815,000 $234,268 $3,353 2.67%
30-36% 74 $15,320,000 $207,027 $3,229 2.67%
<20% 71 $14,385,000 $202,606 $3,091 2.65%
37% 17 $4,005,000 $235,588 $3,627 2.76%
42% 16 $4,460,000 $278,750 $3,906 2.74%
40% 14 $4,490,000 $320,714 $4,295 2.77%
38% 13 $3,305,000 $254,231 $3,711 2.65%
39% 10 $2,770,000 $277,000 $3,639 2.80%
43% 10 $2,130,000 $213,000 $2,974 2.75%
46% 7 $1,665,000 $237,857 $3,714 2.71%
36% 6 $1,620,000 $270,000 $3,818 2.73%
45% 5 $985,000 $197,000 $3,604 2.38%
47% 4 $860,000 $215,000 $3,466 2.56%
41% 4 $1,020,000 $255,000 $3,242 2.91%
>60% 3 $1,045,000 $348,333 $8,260 3.44%
50-60% 2 $1,090,000 $545,000 $6,872 2.69%
44% 2 $260,000 $130,000 $2,725 2.75%
48% 1 $65,000 $65,000 $2,183 2.38%
49% 1 $145,000 $145,000 $3,768 2.88%

Ameriserv Financial Bank lent most frequently to those with DTI ratios of 20-30%, with 123 originations. The next most common DTI ratio? 30-36%, with 74 originations.

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
White 362 $83,610,000 $230,967 $3,416 2.70%
Not applicable 20 $23,890,000 $1,194,500 $0 3.70%
Asian 6 $1,540,000 $256,667 $3,935 2.64%
Black 7 $1,535,000 $219,286 $3,072 2.52%
Not provided 7 $1,375,000 $196,429 $2,688 2.54%
Native Hawaiian 1 $145,000 $145,000 $3,076 3.13%

Approval Rates

Total approvals of all applications
96.67%

Ameriserv Financial Bank has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.

Pick Rate

Approvals leading to origination
85.54%

Ameriserv Financial Bank has an average pick rate.

Points and Fees

Points Originations Total Value Average Loan
NA 403 $112,095,000 $278,151

Occupancy Type Mix

Dwelling Type Originations Total Value Average Loan
403 $112,095,000 $278,151

LTV Distribution

Loan to Value Originations Total Value Average Loan Average Fees Average Rate
20-40% 16 $2,180,000 $136,250 $2,329 2.50%
40-60% 78 $21,940,000 $281,282 $3,086 2.62%
60-80% 189 $56,855,000 $300,820 $3,456 2.78%
80-100% 113 $29,665,000 $262,522 $3,664 2.77%
Over 100% 4 $860,000 $215,000 $7,939 3.39%
Under 20% 3 $595,000 $198,333 $3,145 2.67%

Complaints

Bank Name Product Issue 2021 CPFB Complaints % of Total Issues
American Financial Network Inc. Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 7 33.3%
American Financial Network Inc. Conventional home mortgage Trouble during payment process 2 9.5%
American Financial Network Inc. FHA mortgage Applying for a mortgage or refinancing an existing mortgage 1 4.8%
American Financial Network Inc. FHA mortgage Closing on a mortgage 1 4.8%
American Financial Network Inc. FHA mortgage Struggling to pay mortgage 1 4.8%
American Financial Network Inc. FHA mortgage Trouble during payment process 1 4.8%
American Financial Network Inc. Other type of mortgage Applying for a mortgage or refinancing an existing mortgage 1 4.8%
American Financial Network Inc. Other type of mortgage Struggling to pay mortgage 1 4.8%
American Financial Network Inc. VA mortgage Applying for a mortgage or refinancing an existing mortgage 3 14.3%
American Financial Network Inc. VA mortgage Trouble during payment process 1 4.8%
American Financial Network Inc. Conventional home mortgage Closing on a mortgage 2 9.5%

Bank Details

Branches

Bank Name Branch Branch Type Deposits (000's)
Ameriserv Financial Bank 101 South Main Street Carrolltown, PA 15722 Full Service B&M $69,421
Ameriserv Financial Bank 1404 Eisenhower Boulevard Johnstown, PA 15904 Full Service B&M $151,693
Ameriserv Financial Bank 1501 Somerset Avenue Windber, PA 15963 Full Service B&M $37,861
Ameriserv Financial Bank 179 Lovell Avenue Ebensburg, PA 15931 Full Service B&M $114,506
Ameriserv Financial Bank 1857 North Atherton Street State College, PA 16803 Full Service B&M $42,813
Ameriserv Financial Bank 216 Franklin Street Johnstown, PA 15901 Full Service B&M $249,968
Ameriserv Financial Bank 4206 Crawford Ave Northern Cambria, PA 15714 Full Service B&M $38,687
Ameriserv Financial Bank 60 Boulevard Of Allies, Suite 100 Pittsburgh, PA 15222 Full Service B&M $103,043
Ameriserv Financial Bank 6858 Route 711, Ste 1 Seward, PA 15954 Full Service B&M $25,933
Ameriserv Financial Bank 104 Sunshine Avenue Central City, PA 15926 Full Service B&M $25,014
Ameriserv Financial Bank 1059 Franklin Street Johnstown, PA 15905 Full Service B&M $23,839
Ameriserv Financial Bank 108 West Main Street Somerset, PA 15501 Full Service B&M $47,993
Ameriserv Financial Bank 110 Plaza Drive Johnstown, PA 15905 Full Service B&M $81,968
Ameriserv Financial Bank 112 South Chestnut Derry, PA 15627 Full Service B&M $53,649
Ameriserv Financial Bank 1213 Scalp Avenue Johnstown, PA 15904 Limited, Drive-thru $0
Ameriserv Financial Bank 12806 Shank Farm Way Hagerstown, MD 21742 Full Service B&M $19,651
Ameriserv Financial Bank 135 Center Street Meyersdale, PA 15552 Full Service B&M $35,220
Ameriserv Financial Bank 1383 Shoemaker Street Nanty Glo, PA 15943 Full Service B&M $47,683

For 2021, Ameriserv Financial Bank had 18 branches.

Yearly Performance Overview

Bank Income

Item Value (in 000's)
Total interest income $46,524
Net interest income $40,736
Total noninterest income $6,658
Gross Fiduciary activities income $0
Service charges on deposit accounts $1,080
Trading account gains and fees $0
Additional Noninterest Income $5,578
Pre-tax net operating income $9,885
Securities gains (or losses, -) $84
Income before extraordinary items $8,016
Discontinued Operations (Extraordinary gains, net) $0
Net income of bank and minority interests $8,016
Minority interest net income $0
Net income $8,016
Sale, conversion, retirement of capital stock, net $0
Net operating income $7,948

Ameriserv Financial Bank's gross interest income from loans was $46,524,000.
Ameriserv Financial Bank's net interest income from loans was $40,736,000.
Ameriserv Financial Bank's fee based income from loans was $1,080,000.
Ameriserv Financial Bank's net income from loans was $8,016,000.

Bank Expenses

Item Value (in 000's)
Total interest expense $5,788
Provision for credit losses $1,100
Total noninterest expense $36,409
Salaries and employee benefits $21,129
Premises and equipment expense $3,857
Additional noninterest expense $11,423
Applicable income taxes $1,953
Net charge-offs $47
Cash dividends $2,000

Ameriserv Financial Bank's interest expense for loans was $5,788,000.
Ameriserv Financial Bank's payroll and benefits expense were $21,129,000.
Ameriserv Financial Bank's property, plant and equipment expenses $3,857,000.

Loan Performance

Type of Loan % of Loans Noncurrent (30+ days, end of period snapshot)
All loans 0.0%
Real Estate loans 0.0%
Construction & Land Development loans 0.0%
Nonfarm, nonresidential loans 0.0%
Multifamily residential loans 0.0%
1-4 family residential loans 0.0%
HELOC loans 0.0%
All other family 0.0%
Commercial & industrial loans 1.0%
Personal loans 0.0%
Credit card loans 0.0%
Other individual loans 0.0%
Auto loans 0.0%
Other consumer loans 0.0%
Unsecured commercial real estate loans 0.0%

Deposits

Type Value (in 000's)
Total deposits $1,139,578
Deposits held in domestic offices $1,139,578
Deposits by Individuals, partnerships, and corporations $999,619
Deposits by U.S. Government $0
Deposits by States and political subdivisions in the U.S. $138,558
Deposits by Commercial banks and other depository institutions in U.S. $1,402
Deposits by Banks in foreign countries $0
Deposits by Foreign governments and official institutions $0
Transaction accounts $258,069
Demand deposits $244,963
Nontransaction accounts $881,510
Money market deposit accounts (MMDAs) $456,021
Other savings deposits (excluding MMDAs) $133,163
Total time deposits $292,326
Total time and savings deposits $894,616
Noninterest-bearing deposits $211,306
Interest-bearing deposits $928,272
Retail deposits $1,072,922
IRAs and Keogh plan accounts $75,684
Brokered deposits $0
Deposits held in foreign offices $0

Assets

Asset Value (in 000's)
Total Assets $1,319,327
Cash & Balances due from depository institutions $34,124
Interest-bearing balances $10,192
Total securities $209,190
Federal funds sold & reverse repurchase $0
Net loans and leases $973,639
Loan and leases loss allowance $12,398
Trading account assets $0
Bank premises and fixed assets $17,274
Other real estate owned $0
Goodwill and other intangibles $13,769
All other assets $71,331

Liabilities

Liabilities Value (in 000's)
Total liabilities and capital $1,319,327
Total Liabilities $1,191,453
Total deposits $1,139,578
Interest-bearing deposits $928,272
Deposits held in domestic offices $1,139,578
% insured (estimated) $71
Federal funds purchased and repurchase agreements $0
Trading liabilities $0
Other borrowed funds $46,229
Subordinated debt $0
All other liabilities $5,646

Issued Loan Types

Type Value (in 000's)
Net loans and leases $973,639
Loan and leases loss allowance $12,398
Total loans and leases (domestic) $986,037
All real estate loans $817,999
Real estate loans in domestic offices $817,999
Construction and development loans $54,718
Residential 1-4 family construction $3,935
Other construction, all land development and other land $50,783
Loans secured by nonfarm nonresidential properties $406,246
Nonfarm nonresidential secured by owner-occupied properties $88,249
Commercial real estate & other non-farm, non-residential $317,997
Multifamily residential real estate $70,567
1-4 family residential loans $284,327
Farmland loans $2,141
Loans held in foreign offices $0
Farm loans $10
Commercial and industrial loans $144,216
To non-U.S. addressees $0
Loans to individuals $15,095
Credit card loans $0
Related Plans $10,440
Consumer Auto Loans $1,224
Other loans to individuals $3,431
All other loans & leases $8,717
Loans to foreign governments and official institutions $0
Other loans $6,782
Loans to depository institutions and acceptances of other banks $0
Loans not secured by real estate $21,954
Loans secured by real estate to non-U.S. addressees $0
Restructured Loans & leases $0
Non 1-4 family restructured loans & leases $0
Total loans and leases (foreign) $0

AmeriServ Financial Bank had $973,639,000 of loans outstanding in 2021. $817,999,000 of loans were in real estate loans. $54,718,000 of loans were in development loans. $70,567,000 of loans were in multifamily mortgage loans. $284,327,000 of loans were in 1-4 family mortgage loans. $10,000 of loans were in farm loans. $0 of loans were in credit card loans. $1,224,000 of loans were in the auto loan category.

Small Business Loans

Categorization # of Loans in Category $ amount of loans (in 000's) Average $/loan
Nonfarm, nonresidential loans - <$1MM 246 $65,288 $265,398
Nonfarm, nonresidential loans - <$100k 54 $1,431 $26,500
Nonfarm, nonresidential loans - $100-250k 69 $8,015 $116,159
Nonfarm, nonresidential loans - $250k-1MM 123 $55,842 $454,000
Commercial & Industrial, US addressed loans - <$1MM 601 $58,855 $97,928
Commercial & Industrial, US addressed loans - <$100k 386 $12,191 $31,583
Commercial & Industrial, US addressed loans - $100-250k 101 $9,959 $98,604
Commercial & Industrial, US addressed loans - $250k-1MM 114 $36,705 $321,974
Farmland loans - <$1MM 1 $403 $403,000
Farmland loans - $250k-1MM 1 $403 $403,000
Agriculture operations loans - <$1MM 2 $10 $5,000
Agriculture operations loans - <$100k 2 $10 $5,000