AmeriServ Consolidates Ops Management

AmeriServ Financial Inc., Johnstown, Pa., has announced a move to consolidate the management of its mortgage servicing operation in Atlanta with that of its mortgage lending operations in Western Pennsylvania.As part of the consolidation, William D. Adams of AmeriServ Financial Bank has been appointed president and chief executive officer of Standard Mortgage Corp. of Georgia and will direct the restructuring of that Atlanta-based mortgage servicing affiliate from Johnstown, AmeriServ said. The company noted that it recently sold the servicing rights on approximately $450 million of mortgage loans serviced through SMCG. Gary McKeown, AmeriServ's chief lending officer, said the Atlanta operation "does not fit our long-term vision to return to more of a community banking focus." In a related announcement, AmeriServ said its local mortgage lending subsidiary, AmeriServ Mortgage Co., will become the residential lending division of AmeriServ Financial Bank. AmeriServ can be found online at http://www.ameriservfinancial.com.