AmeriServ looks to expand regional footprint
A Johnstown-based bank is starting to look into further expansion in Central Pennsylvania.
Glenn L. Wilson, the president and CEO of AmeriServ Financial Bank, said the company is now examining the possibility of opening another location in the region, though it won’t be a retail branch location.
The bank opened a loan production office at 2080 Linglestown Road in Susquehanna Township in 2011, and the next expansion in the market likely will be similar, he said. The company is looking at another loan production location in the Lancaster or York areas, or it could add to its current one-man operation in Susquehanna Township.
“Or some combination of both,” Wilson said. “We did some investigating, and we determined Central Pennsylvania is a good place for us to be.”
AmeriServ Financial Bank has 18 branches, about 350 employees and its assets under management is approximately $1 billion. Its wealth management subsidiary manages about $1.8 billion in assets, Wilson said.
The company is not looking to expand into the market with a retail bank branch yet, Wilson said, and likely will not do so until the mortgage lending side of the current and future local operation is successful.
When it does expand, Wilson said it could be with employees currently in the region.
“We could bring people from Johnstown and throw them right into the market, but they’re probably not going to be really successful,” he said. “We’re pretty picky on who we hire. We want people that are proven and have good contact bases.”