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AmeriServ Financial Announces Signing of New Advisory Agreement with Significant Shareholder SB Value Partners, L.P.
JOHNSTOWN, Pa., April 16, 2025--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 Ap
About this update from Ameriserv Financial Inc.
[{"type":"text","content":"AmeriServ and SB Value Have Also Agreed to Extend Cooperation Agreement Through 2029","length":84,"tagName":"p","attribs":{}},{"type":"text","content":"JOHNSTOWN, Pa., April 16, 2025--(BUSINESS WIRE)--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").","length":706,"tagName":"p"},{"type":"text","content":""Over the past year, we have benefitted greatly from our collaborative engagement with SBV around ways to improve performance and enhance AmeriServ’s value," said J. Michael Adams, Jr., AmeriServ’s Chairman of the Board of Directors (the "Board"). "As we’ve consistently stated, our Board is always open to the views of our investors, and the Cooperation Agreement with SBV has allowed us to benefit from the constructive feedback of one our largest shareholders. We will continue to focus on executing our strategy to enhance value for shareholders, customers, employees and the communities we serve."","length":632,"tagName":"p"},{"type":"text","content":""We believe that AmeriServ has the unique opportunity to grow all business lines – and to significantly increase the assets under management and corresponding free cash flow from its trust and wealth management division," said Scott Barnes, Managing Partner of SBV. "Moreover, we appreciate the constructive dialogue we have had with AmeriServ’s Board and management since entering into the initial Cooperation Agreement, and strongly feel the SB Value-AmeriServ affiliation will expand and create meaningful client, investor and employee opportunities in the high net worth and union-based investment markets."","length":631,"tagName":"p"},{"type":"text","content":"The complete Advisory Agreement, which details all relevant financial and contrac...