JOHNSTOWN, Pa., Feb. 4 /PRNewswire-FirstCall/ -- AmeriServ Financial, the
$1.2 billion banking subsidiary of AmeriServ Financial, Inc. (Nasdaq: ASRV),
today announced the appointment of Gary M. McKeown as Senior Vice President
and Chief Lending Officer. McKeown has more than 30 years of lending
experience.
(Photo: http://www.newscom.com/cgi-bin/prnh/20020717/ASRVLOGO )
McKeown is familiar with AmeriServ and the local lending environment. In
1986 he originally joined AmeriServ Financial, Inc. (formerly known as
USBancorp, Inc.) to oversee credit policy and administration. After leaving
AmeriServ in 2000, he served as the Chief Credit Officer for Three Rivers Bank
of Monroeville, PA, the former AmeriServ affiliate which spun-off from the
holding company that same year.
Since reporting a $4 million loss during the third quarter of 2002,
AmeriServ has taken steps to improve credit and loan quality. The bank has
begun a restructuring of the entire lending and credit function, an
improvement that interim Chairman, President and CEO Craig G. Ford calls a
return to "traditional community bank lending practices." AmeriServ has
reengineered all credit review and discount committee functions, in addition
to creating an internal team with the sole responsibility of addressing credit
quality issues. McKeown will lead the lending restructuring.
This appointment of McKeown is another important addition for the
financial turnaround at AmeriServ, according to Ford.
"There is a culture shift here that encompasses the future credit goals at
AmeriServ," said Ford. "We are transitioning our commercial loan portfolio by
adhering to a more traditional `community bank' lending philosophy. This
means a stronger emphasis on more, smaller loans written for local
businesses."
AmeriServ's emphasis on customer service and a renewed focus on what Ford
labels "meat and potatoes" community banking will guide the strengthening of
the bank's credit portfolio.
"We're saying to local businesses that we are here to serve their credit
needs," said McKeown. "This is how we will become a stronger community bank,
and this is how we can best serve our region."
McKeown began his career in lending with Equibank in Pittsburgh in 1970.
He holds a Master of Public Administration degree and a graduate certificate
in financial management from the University of Pittsburgh. McKeown is a 1962
graduate of Westmont Hilltop High School in Johnstown.
AmeriServ Financial, Inc., is the parent of AmeriServ Financial Bank and
AmeriServ Trust & Financial Services in Johnstown, AmeriServ Associates of
State College, and AmeriServ Life Insurance Company.
SOURCE AmeriServ Financial, Inc.
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Related links:
http://www.ameriservfinancial.com
Photo Notes:
NewsCom:
http://www.newscom.com/cgi-bin/prnh/20020717/ASRVLOGO
AP Archive: http://photoarchive.ap.org
PRN Photo Desk, +1-888-776-6555 or +1-212-782-2840
CONTACT:
Dan L. Hummel, Senior Vice President of
AmeriServ Financial, +1-814-533-5139
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