JOHNSTOWN, Pa., Dec. 11, 2014 /PRNewswire/ -- AmeriServ Financial
Inc. (NASDAQ: ASRV) (the "Company") announced today that
Glenn L. Wilson will resign from his
position as President and Chief Executive Officer of the Company
effective January 9, 2015. Mr.
Wilson will also step down as a director of the Company, and from
all director, committee membership, officer and other positions
that he has with the Company and each of its subsidiaries.
Mr. Wilson's resignation did not result from any disagreement he
has with the Company about the operations, policies or practices of
the Company or any of its subsidiaries or affiliates.
The Board of Directors has appointed, effective January 9, 2015, Jeffrey
A. Stopko as interim President and Chief Executive Officer
of AmeriServ Financial, Inc. and James T.
Huerth as interim President and Chief Executive Officer of
AmeriServ Financial Bank (the "Bank") until permanent successors
for Mr. Wilson are named. Mr. Stopko has served as Executive
Vice President and Chief Financial Officer, a position he has held
since 1997; Mr. Huerth was most recently Executive Vice President
and Director – Retail and Commercial Banking, a position he has
held since 2010.
Mr. Wilson joined the organization in 2009 as President and
Chief Executive Officer. During his tenure with AmeriServ
Financial, the Bank grew from $967
million in assets to $1.07
billion at September 30, 2014
while maintaining excellent asset quality. In discussing his
time with AmeriServ, he said, "I have been honored to lead this
community bank and help it grow into the organization it is
today. It is important to reinvest in the communities we
serve; and our people are committed to delivering the very highest
level of service. I have enjoyed my time here at AmeriServ
and believe the bank is well positioned for the future."
According to Craig G. Ford, the
Company's Chairman, "Under Glenn's leadership, we have been able to
build our bank into a true community bank that focuses on servicing
its customers while offering all of the benefits and services
normally associated with large, regional and national
competitors. The business strategies we have put into place
provide a strong foundation from where we will continue to foster
steady progress and continued growth."
AmeriServ Financial Bank is a community bank, headquartered in
Johnstown, PA, and its holding
company is publicly traded on NASDAQ under the symbol ASRV.
The Company has total assets of $1.07
billion and currently operates 17 community banking offices
encompassing five counties in western Pennsylvania.
Forward-Looking Statements
This news release contains forward-looking statements as defined
in the Securities Exchange Act of 1934 and is subject to the safe
harbors created therein. The forward-looking statements contained
herein include, but are not limited to, information regarding the
Company's business strategies and programs. These forward-looking
statements involve risks and uncertainties that could cause the
Company's results to differ materially from management's current
expectations. Such risks and uncertainties are detailed in the
Company's filings with the Securities and Exchange Commission,
including its Annual Report on Form 10-K for the year ended
December 31, 2013. Forward-looking
statements are based on the beliefs and assumptions of the
Company's management and on currently available information. The
statements in this press release are made as of the date of this
press release, even if subsequently made available by the Company
on its website or otherwise. The Company undertakes no
responsibility to publicly update or revise any forward-looking
statement.
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SOURCE AmeriServ Financial, Inc.