AMERISERV FINANCIAL,INC. (NASDAQ:ASRV) Files An 8-K Regulation FD Disclosure
Item 7.01
Regulation FD Disclosure.
In connection with the board succession plan of AmeriServ Financial,Inc. (“AmeriServ”), effective January24, 2019, (a)AllanR. Dennison has been appointed as non-executive Chairperson of the Board of Directors of AmeriServ and all of its subsidiaries, and (b)CraigG. Ford has been appointed as non-executive Vice Chairperson of the Board of Directors of AmeriServ and all of its subsidiaries. Mr.Dennison had previously served as AmeriServ’s non-executive Vice Chairperson of the Board of Directors since October 2012. AmeriServ’s board of directors will also seek shareholder approval at its 2019 annual meeting of shareholders of a waiver of the director age restriction in AmerServ’s bylaws to permit Mr.Ford’s re-election as a director at this upcoming meeting.
About AMERISERV FINANCIAL,INC. (NASDAQ:ASRV)
AmeriServ Financial, Inc. is a bank holding company of AmeriServ Financial Bank (the Bank). The Company’s principal activities consist of owning and operating its three subsidiary entities. The Company’s segments include retail banking, commercial banking, trust and investment/parent. Its Retail banking segment includes the deposit-gathering branch franchise and lending to both individuals and small businesses. Its Commercial banking to businesses includes commercial loans and commercial real estate mortgage (CRE) loans. The trust segment contains its wealth management businesses, which include the Trust Company, WCCA, its registered investment advisory firm and financial services. Wealth management includes personal trust products and services, such as personal portfolio investment management, estate planning and administration, custodial services and pre-need trusts. The investment/parent segment includes the net results of investment securities and borrowing activities.