UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form
Current Report
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
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Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (240.12b-2 of this chapter).
Emerging growth company
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Form 8-K
Item 8.01 Other events.
On April 19, 2024, AmeriServ Financial, Inc. issued a press release announcing that its Board of Directors declared a $0.03 per share quarterly common stock cash dividend. The cash dividend is payable May 20, 2024 to shareholders of record on May 6, 2024. The press release, attached hereto as Exhibit 99.1, is incorporated herein.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits:
99.1Press release dated April 19, 2024, of AmeriServ Financial, Inc.
104Cover Page Interactive Data File (embedded within the Inline XBRL document).
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. | ||
Date: April 19, 2024 | By | /s/Michael D. Lynch |
Michael D. Lynch | ||
EVP & CFO | ||
Exhibit 99.1
AMERISERV FINANCIAL, INC. ANNOUNCES QUARTERLY COMMON STOCK CASH DIVIDEND
JOHNSTOWN, PA – AmeriServ Financial, Inc. (NASDAQ: ASRV) announced that its Board of Directors declared a $0.03 per share quarterly common stock cash dividend. The cash dividend is payable May 20, 2024 to shareholders of record on May 6, 2024. This cash dividend represents a 4.67% annualized yield using the April 17, 2024 closing common stock price of $2.57. For the first quarter of 2024, the Company’s dividend payout ratio amounted to 27.3%.
AmeriServ Financial, Inc. is the parent of AmeriServ Financial Bank and AmeriServ Trust and Financial Services Company in Johnstown. The Company’s subsidiaries provide full-service banking and wealth management services through sixteen community offices in southwestern Pennsylvania and Hagerstown, Maryland. The Company also operates loan production offices in Altoona and Monroeville, Pennsylvania. At March 31, 2024, AmeriServ had total assets of $1.385 billion and a book value of $6.06 per common share.
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 AmeriServ's dividend program and future payment obligations. These forward-looking statements involve risks and uncertainties that could cause AmeriServ's results to differ materially from management's current expectations. Such risks and uncertainties are detailed in AmeriServ's filings with the Securities and Exchange Commission, including our Annual Report on Form 10-K for the year ended December 31, 2023. Forward-looking statements are based on the beliefs and assumptions of AmeriServ'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 AmeriServ on its website or otherwise. AmeriServ undertakes no responsibility to publicly update or revise any forward-looking statement.
Document and Entity Information |
Apr. 19, 2024 |
|---|---|
| Cover [Abstract] | |
| Document Type | 8-K |
| Document Period End Date | Apr. 19, 2024 |
| Securities Act File Number | 0-11204 |
| Entity Registrant Name | AMERISERV FINANCIAL, Inc. |
| Entity Incorporation, State or Country Code | PA |
| Entity Tax Identification Number | 25-1424278 |
| Entity Address, Address Line One | Main and Franklin Streets |
| Entity Address, City or Town | Johnstown |
| Entity Address, State or Province | PA |
| Entity Address, Postal Zip Code | 15901 |
| City Area Code | 814 |
| Local Phone Number | 533-5300 |
| Written Communications | false |
| Soliciting Material | false |
| Pre-commencement Tender Offer | false |
| Pre-commencement Issuer Tender Offer | false |
| Title of 12(b) Security | Common Stock |
| Trading Symbol | ASRV |
| Security Exchange Name | NASDAQ |
| Entity Emerging Growth Company | false |
| Entity Central Index Key | 0000707605 |
| Amendment Flag | false |
N-2 |
Apr. 19, 2024 |
|---|---|
| Cover [Abstract] | |
| Entity Central Index Key | 0000707605 |
| Amendment Flag | false |
| Securities Act File Number | 0-11204 |
| Document Type | 8-K |
| Entity Registrant Name | AMERISERV FINANCIAL, Inc. |
| Entity Address, Address Line One | Main and Franklin Streets |
| Entity Address, City or Town | Johnstown |
| Entity Address, State or Province | PA |
| Entity Address, Postal Zip Code | 15901 |
| City Area Code | 814 |
| Local Phone Number | 533-5300 |
| Entity Emerging Growth Company | false |