AmeriServ Financial Inc. Completes Merger of Subsidiary Trust Company

JOHNSTOWN, Pa., Nov. 5, 2024 /PRNewswire/ -- (NASDAQ: ASRV) – AmeriServ Financial, Inc. today announced the completion of the merger of its subsidiary, AmeriServ Trust and Financial Services Company, with and into its subsidiary bank, AmeriServ Financial Bank. The merger was effective October 1, 2024, and the former trust company will now function as a division of the bank under the name AmeriServ Wealth & Capital Management.

Jeff Stopko, president and CEO of AmeriServ Financial, Inc., said, "This merger not only enables the company to realize greater operational efficiencies, but it also makes it possible for our trust customers to have greater and more immediate access to the full complement of services that AmeriServ Bank offers. We believe this change will only make our company stronger and we are committed to providing all our customers with exceptional banking for life experiences."

He added that all staff from the former trust company will be retained and that former AmeriServ Trust and Financial Services president, David Finui, has been named president of the new wealth division. He will oversee all activities related to the various business lines contained within the division.

AmeriServ Financial, Inc. is the parent of AmeriServ Financial Bank, located in Johnstown, PA. The bank provides full-service banking and wealth management services through 16 community offices in southwestern Pennsylvania and Hagerstown, Maryland. The Company also operates loan production offices in Altoona and Monroeville, Pennsylvania. At September 30, 2024, AmeriServ had total assets of $1.4 billion and a book value of $6.55 per common share. AmeriServ Financial, Inc. is publicly traded on the NASDAQ stock exchange under the symbol ASRV.

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SOURCE AmeriServ Financial, Inc.