UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C.  20549


 

FORM 8-K

 

CURRENT REPORT

 

Pursuant to Section 13 or 15(d) of

The Securities Exchange Act of 1934

 

March 19, 2015

Date of Report (Date of earliest event reported)

 

AMERISERV FINANCIAL, INC.

(Exact name of registrant as specified in its charter)

 

Pennsylvania

 

0-11204

 

25-1424278

(State or other jurisdiction

of incorporation)

 

(Commission

File Number)

 

(IRS Employer

Ident. No.)

 

 

 

 

 

Main and Franklin Streets, Johnstown, Pennsylvania

 

15901

(Address of principal executive offices)

 

(Zip Code)

 

(814) 533-5300

Registrant’s telephone number, including area code

 

N/A

(Former name or former address, if changed since last report.)


 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

 

o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4 (c))

 


 













Item 5.02     Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

On March 19, 2015, the Board of Directors of AmeriServ Financial, Inc. (“AmeriServ”) appointed Jeffrey A. Stopko, age 52, as President and Chief Executive Officer of AmeriServ and Michael D. Lynch, age 54, as Senior Vice President, Chief Financial and Investment Officer of AmeriServ.  Also on March 19, 2015, the Board of Directors of AmeriServ Financial Bank (the “Bank”), AmeriServ’s wholly-owned banking subsidiary, appointed James T. Huerth, age 53, as President and Chief Executive Officer of the Bank.  A copy of the press release is attached hereto as Exhibit 99.1 and is incorporated herein by reference.

Each of Messrs. Stopko, Lynch and Huerth do not have an interest requiring disclosure under either Items 401(d) and 404(a) of Regulation S-K, and information required under Items 401(b) and (e) of Regulation S-K and related to any material plan, contract or arrangement with respect to Messrs. Stopko, Lynch and Huerth is incorporated by reference to the information under the captions “Executive Officers” and “Executive Compensation” in AmeriServ’s definitive proxy statement, filed with the Securities and Exchange Commission on March 19, 2015.

Item 9.01     Financial Statements and Exhibits.

(d)

Exhibits:

 

99.1

Press release, dated March 24, 2015, of AmeriServ Financial, Inc.


 

SIGNATURES

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

 

AMERISERV FINANCIAL, INC.

 

 

 

 Dated:  March 24, 2015

By:

/s/  Jeffrey A. Stopko

 

 

 

 

Jeffrey A. Stopko

 

 

 

President and
Chief Executive Officer

 

 

 

 

 













 

EXHIBIT INDEX

 

Exhibit Number

 

Description

 

 

 

99.1

 

Press release, dated March 24, 2015, of AmeriServ Financial, Inc.

 

 

 


 





Exhibit 99.1




Contact:
Susan Tomera Angeletti
Senior Vice President
Corporate Marketing &
Alternative Delivery Services
814-533-5117



FOR IMMEDIATE RELEASE


AmeriServ Financial Inc. Appoints Senior Leadership Team


Johnstown, PA (NASDAQ: ARSV)  – The Board of Directors of AmeriServ Financial Inc. today announced that its interim senior management team has been appointed to permanent leadership positions.


"AmeriServ is in the enviable position of being able to leverage the depth and experience of our leadership team to advance our commitment to our shareholders, customers and employees," Craig Ford, AmeriServ chairman, said.  “In January, we appointed an interim management team as the result of our former president and chief executive officer resigning.  Our interim team has demonstrated that we are well positioned to continue working toward our goal of increasing shareholder value.  Each of these individuals has a proven track record within their areas of expertise and is committed to championing our improved financial performance at AmeriServ."


·

Jeffrey A. Stopko is promoted to president and chief executive officer of AmeriServ Financial, Inc.  He will be responsible for advancing the organization's performance and that of its subsidiaries. Having joined the company in 1987, Mr. Stopko was previously executive vice president and chief financial officer, a positon he had held since 1997.  


·

James T. Huerth has been promoted to president and chief executive officer of AmeriServ Bank.  Having joined AmeriServ in 2010, he was most recently chief banking officer; overseeing the bank's retail and commercial banking divisions.  


·

Michael R. Baylor has been promoted to executive vice president and chief commercial banking officer.  Mr. Baylor joined AmeriServ in 2012 as senior vice president - commercial banking.



AmeriServ Financial Inc.
Announces Leadership Changes
Page 2 of 2




·

Carolyn Concannon has been promoted to executive vice president - chief risk officer.  Ms. Concannon joined the company in 1984 and most recently served as senior vice president – chief credit officer.


·

Michael Lynch has been promoted to senior vice president, chief financial and investment officer.  Mr. Lynch joined the company in 1983 and was previously senior vice president, chief investment and risk officer.


·

Gregor T. Young remains president and chief executive officer of AmeriServ Trust and Financial Services, a wholly-owned subsidiary of AmeriServ Financial, Inc.


·

Steve Krawick remains president of West Chester Capital Advisors, a registered investment advisory subsidiary.



"These changes are strong examples of our ongoing commitment to positioning the company as a preferred financial services provider.  We believe we have the right combination of leadership, staff, products and services in place to continue moving toward new financial horizons while staying true to our deeply rooted community values.  On behalf of the AmeriServ Board, I want to say that we look forward to working with our new team and identifying opportunities for additional growth.  With these leadership moves, AmeriServ is well positioned for the future," Mr. Ford concluded.  


AmeriServ Financial Bank is a community bank, headquartered in Johnstown, PA and is publicly traded on NASDAQ under the symbol ASRV. The company has total assets of $1.1 billion and currently operates 17 community banking offices encompassing five counties in western Pennsylvania as well as four Loan Production Offices (LPOs) in selected locations.


  



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