Articles from AmeriServ Financial, Inc.

AmeriServ Financial, Inc. (NASDAQ: ASRV) (“AmeriServ” or the “Company”) today announced it has signed a new advisory agreement (the “Advisory Agreement”) with significant shareholder SB Value Partners L.P. (“SBV”) to help grow and optimize its $2.4 billion assets under management in its trust and wealth management business. Also, both AmeriServ and SBV have mutually agreed to extend their Cooperation Agreement (the “Cooperation Agreement”), originally signed on April 18, 2024, through 2029. SBV currently owns approximately 8.2% of the Company’s outstanding common stock (the “Common Stock”).

AmeriServ Financial, Inc. (NASDAQ: ASRV) (“AmeriServ” or the “Company”) today announced that it has reached a cooperation and settlement agreement (the “Cooperation Agreement”) with Driver Opportunity Partners I LP (collectively with its affiliates, “Driver”).

AmeriServ Financial, Inc. (NASDAQ: ASRV) (“AmeriServ” or the “Company”) today announced that it has reached a cooperation agreement (“Cooperation Agreement”) with SB Value Partners, L.P. (“SBV”), which owns approximately 7.7% of the Company’s outstanding common stock, par value $0.01 per share (the “Common Stock”).

AmeriServ Financial, Inc. (NASDAQ: ASRV) ("AmeriServ" or the "Company") today announced that J. Michael Adams, Jr. has been elected non-executive Chairman of the Company’s Board of Directors (the “Board”). In addition, AmeriServ announced that Kim W. Kunkle has been elected non-executive Vice Chairman of the Board. Mr. Adams, who previously held the role of Vice Chairman, succeeds Allan R. Dennison following his recent retirement from the Board.

AmeriServ Financial, Inc. (NASDAQ: ASRV) (“AmeriServ” or the "Company") today announced that shareholders voted to elect the Company’s three director candidates – Richard “Rick” W. Bloomingdale, David J. Hickton and Daniel A. Onorato – at the 2023 Annual Meeting of Shareholders (the “Annual Meeting”). AmeriServ also issued the following statement:

AmeriServ Financial, Inc. (“AmeriServ” or the "Company") (NASDAQ: ASRV) today announced that the United States District Court for the Western District of Pennsylvania (the “Court”) has denied Driver Opportunity Partners I LP’s (“Driver”) motion for a preliminary injunction to delay the Company’s 2023 Annual Meeting of Shareholders (the “Annual Meeting”). The Annual Meeting will take place as scheduled on May 26, 2023.

AmeriServ Financial, Inc. (“AmeriServ” or the "Company") (NASDAQ: ASRV) today announced that it has filed a lawsuit in the Court of Common Pleas of Cambria County, Pennsylvania, against Driver Opportunity Partners I LP (“Driver”), its founder and managing member, J. Abbott R. Cooper, and Driver’s purported director nominees Julius “Izzy” Rudolph and Brandon L. Simmons. The lawsuit seeks declaratory judgement that Driver’s purported notice of intent to nominate director candidates (the “Purported Notice”) at the Company’s 2023 Annual Meeting of Shareholders (the “Annual Meeting”) is invalid and that Driver be enjoined from soliciting proxies in connection with the Annual Meeting.

AmeriServ Financial, Inc. (“AmeriServ” or the "Company") (NASDAQ: ASRV) today announced that its Board of Directors (the “Board”) has determined that the notice of intent to nominate directors (the “Notice”) submitted on January 17, 2023 by Driver Management Company LLC, Driver Opportunity Partners I LP and J. Abbott Cooper (collectively, “Driver”) for the Company’s 2023 Annual Meeting of Shareholders (the “Annual Meeting”) is invalid.