<SEC-DOCUMENT>0000707605-14-000073.txt : 20140625
<SEC-HEADER>0000707605-14-000073.hdr.sgml : 20140625
<ACCEPTANCE-DATETIME>20140618081632
ACCESSION NUMBER:		0000707605-14-000073
CONFORMED SUBMISSION TYPE:	11-K
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20140618
FILED AS OF DATE:		20140618
DATE AS OF CHANGE:		20140618

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			AMERISERV FINANCIAL INC /PA/
		CENTRAL INDEX KEY:			0000707605
		STANDARD INDUSTRIAL CLASSIFICATION:	NATIONAL COMMERCIAL BANKS [6021]
		IRS NUMBER:				251424278
		STATE OF INCORPORATION:			PA
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		11-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-11204
		FILM NUMBER:		14926740

	BUSINESS ADDRESS:	
		STREET 1:		MAIN & FRANKLIN STS
		STREET 2:		PO BOX 430
		CITY:			JOHNSTOWN
		STATE:			PA
		ZIP:			15907
		BUSINESS PHONE:		8145335300

	MAIL ADDRESS:	
		STREET 1:		MAIN & FRANKLIN STS
		STREET 2:		PO BOX 430
		CITY:			JOHNSTOWN
		STATE:			PA
		ZIP:			15907
</SEC-HEADER>
<DOCUMENT>
<TYPE>11-K
<SEQUENCE>1
<FILENAME>a11k2013.htm
<DESCRIPTION>2013 FORM 11-K
<TEXT>
<!doctype html public "-//IETF//DTD HTML//EN">
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<HEAD>
<TITLE>SECURITIES AND EXCHANGE COMMISSION</TITLE>
<META NAME="author" CONTENT="Margetan, Dave">
<META NAME="date" CONTENT="06/16/2014">
</HEAD>
<BODY style="line-height:12pt; font-family:Times New Roman; font-size:10pt; color:#000000">
<DIV style="width:624px"><P style="line-height:14pt; margin-top:0px; margin-bottom:16px; font-size:12pt" align=center>UNITED STATES<BR>
SECURITIES AND EXCHANGE COMMISSION<BR>
Washington, D.C. 20549</P>
<P style="line-height:14pt; margin-top:0px; margin-bottom:16px; font-size:12pt" align=center>FORM 11-K</P>
<P style="line-height:14pt; margin-top:0px; margin-bottom:16px; font-size:12pt" align=center>[ X ] &nbsp;&nbsp;&nbsp;&nbsp;Annual Report pursuant to Section 15(d) of the<BR>
Securities Exchange Act of 1934 for the fiscal year<BR>
ended December&nbsp;31, 2013.</P>
<P style="line-height:14pt; margin-top:0px; margin-bottom:16px; font-size:12pt" align=center>or</P>
<P style="line-height:14pt; margin-top:0px; margin-bottom:16px; font-size:12pt" align=center>[ &nbsp;&nbsp;] &nbsp;&nbsp;&nbsp;&nbsp;Transition Report pursuant to Section 15(d) of the<BR>
Securities Exchange Act of 1934 for the transition<BR>
period from ____________ to ______________.</P>
<P style="line-height:14pt; margin-top:0px; margin-bottom:16px; font-size:12pt" align=center>Commission File Number: &nbsp;0-11204</P>
<P style="line-height:14pt; margin-top:0px; margin-bottom:16px; font-size:12pt" align=center>AmeriServ Financial<BR>
401(k) Profit Sharing Plan<BR>
(Full title of the plan)</P>
<P style="line-height:14pt; margin-top:0px; margin-bottom:16px; font-size:12pt" align=center>AmeriServ Financial, Inc.<BR>
Main and Franklin Streets<BR>
<U> &nbsp;Johnstown, PA &nbsp;15901 &nbsp;<BR>
</U>(Name of issuer of the securities held pursuant to the plan and <BR>
the address of its principal executive office.)</P>
<P style="line-height:14pt; margin-top:0px; margin-bottom:16px; font-size:12pt" align=center>Registrant's telephone number, including area code: &nbsp;(814) 533-5300</P>
<P style="line-height:14pt; margin-top:0px; margin-bottom:16px; font-size:12pt" align=center>Notices and communications from the Securities and Exchange<BR>
Commission relating to this report should be forwarded to:</P>
<P style="line-height:14pt; margin-top:0px; margin-bottom:16px; font-size:12pt" align=center>AmeriServ Financial, Inc.<BR>
Main and Franklin Streets<BR>
Johnstown, PA &nbsp;15901</P>
<P style="line-height:14pt; margin-top:0px; margin-bottom:16px; font-size:12pt" align=center>Attention: &nbsp;Nicholas E. Debias, Jr.</P>
<P style="line-height:14pt; margin-top:0px; margin-bottom:16px; font-size:12pt" align=center>With a copy to:</P>
<P style="line-height:14pt; margin-top:0px; margin-bottom:16px; font-size:12pt" align=center>Wesley R. Kelso, Esquire<BR>
Stevens &amp; Lee<BR>
Suite 602<BR>
25 North Queen Street<BR>
Lancaster, PA &nbsp;17603<BR>
(717) 399-6632</P>
<P style="margin-top:0px; margin-bottom:16px" align=center><BR>
<BR></P>
<P style="margin:0px" align=center><BR></P>
<P style="margin:0px" align=justify><BR></P>
<P style="margin:0px" align=justify><BR></P>
<P style="margin:0px; page-break-before:always" align=justify><BR></P>
<P style="margin:0px" align=justify><BR></P>
<P style="margin-top:0px; margin-bottom:16px" align=justify><BR></P>
<TABLE style="font-size:10pt" cellspacing=0><TR style="font-size:0"><TD width=31.2></TD><TD width=24></TD><TD width=516></TD><TD width=67.2></TD></TR>
<TR><TD valign=bottom width=638.4 colspan=4><P style="line-height:13pt; margin-top:0px; margin-bottom:14.667px; font-size:11pt" align=justify>Item 1. Financial Statements and Exhibits</P>
</TD></TR>
<TR><TD valign=bottom width=31.2><P style="line-height:13pt; margin-top:0px; margin-bottom:14.667px; font-size:11pt" align=justify>a.</P>
</TD><TD valign=bottom width=540 colspan=2><P style="line-height:13pt; margin-top:0px; margin-bottom:14.667px; font-size:11pt" align=justify>Financial Statements</P>
</TD><TD valign=bottom width=67.2><P style="line-height:13pt; margin-top:0px; margin-bottom:14.667px; font-size:11pt" align=center>Page <U>Number</U></P>
</TD></TR>
<TR><TD valign=bottom width=31.2><P>&nbsp;</P></TD><TD valign=bottom width=24><P>&nbsp;</P></TD><TD valign=bottom width=516><P style="line-height:13pt; margin-top:0px; margin-bottom:14.667px; font-size:11pt">Report of Independent Registered Public Accounting Firm.</P>
</TD><TD valign=bottom width=67.2><P style="line-height:13pt; margin-top:0px; margin-bottom:14.667px; font-size:11pt" align=center>3</P>
</TD></TR>
<TR><TD valign=bottom width=31.2><P>&nbsp;</P></TD><TD valign=bottom width=24><P>&nbsp;</P></TD><TD valign=bottom width=516><P style="line-height:13pt; margin-top:0px; margin-bottom:14.667px; font-size:11pt" align=justify>Statement of Net Assets Available for Benefits as of December&nbsp;31, 2013 and 2012.</P>
</TD><TD valign=bottom width=67.2><P style="line-height:13pt; margin-top:0px; margin-bottom:14.667px; font-size:11pt" align=center>4</P>
</TD></TR>
<TR><TD valign=bottom width=31.2><P>&nbsp;</P></TD><TD valign=bottom width=24><P>&nbsp;</P></TD><TD valign=bottom width=516><P style="line-height:13pt; margin-top:0px; margin-bottom:14.667px; font-size:11pt" align=justify>Statement of Changes in Net Assets Available for Benefits for the years ended December 31, 2013 and 2012.</P>
</TD><TD valign=top width=67.2><P style="line-height:13pt; margin-top:0px; margin-bottom:14.667px; font-size:11pt" align=center>5</P>
</TD></TR>
<TR><TD valign=bottom width=31.2><P>&nbsp;</P></TD><TD valign=bottom width=24><P>&nbsp;</P></TD><TD valign=bottom width=516><P style="line-height:13pt; margin-top:0px; margin-bottom:14.667px; font-size:11pt" align=justify>Notes to Financial Statements.</P>
</TD><TD valign=bottom width=67.2><P style="line-height:13pt; margin-top:0px; margin-bottom:14.667px; font-size:11pt" align=center>6-15</P>
</TD></TR>
<TR><TD valign=bottom width=31.2><P>&nbsp;</P></TD><TD valign=bottom width=24><P>&nbsp;</P></TD><TD valign=bottom width=516><P style="line-height:13pt; margin-top:0px; margin-bottom:14.667px; font-size:11pt" align=justify>Supplemental Schedule.</P>
</TD><TD valign=bottom width=67.2><P style="line-height:13pt; margin-top:0px; margin-bottom:14.667px; font-size:11pt" align=center>16-17</P>
</TD></TR>
<TR><TD valign=bottom width=31.2><P style="line-height:13pt; margin-top:0px; margin-bottom:14.667px; font-size:11pt" align=justify>b.</P>
</TD><TD valign=bottom width=607.2 colspan=3><P style="line-height:13pt; margin-top:0px; margin-bottom:14.667px; font-size:11pt" align=justify>Exhibits</P>
</TD></TR>
<TR><TD valign=bottom width=31.2><P>&nbsp;</P></TD><TD valign=bottom width=24><P>&nbsp;</P></TD><TD valign=bottom width=516><P style="line-height:13pt; margin-top:0px; margin-bottom:14.667px; font-size:11pt" align=justify>Consent of S.R. Snodgrass, P.C.</P>
</TD><TD valign=bottom width=67.2><P style="line-height:13pt; margin-top:0px; margin-bottom:14.667px; font-size:11pt" align=center>19</P>
</TD></TR>
</TABLE>
<P style="margin-top:0px; margin-bottom:14.667px" align=justify><BR></P>
<P style="margin-top:0px; margin-bottom:16px"><BR></P>
<P style="margin:0px" align=justify><BR></P>
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<P style="margin-top:0px; margin-bottom:16px"><BR></P>
<P style="line-height:14pt; margin-top:0px; margin-bottom:13.333px; text-indent:288px; font-size:12pt">2</P>
<P style="margin:0px" align=center><BR>
<BR></P>
<P style="margin:0px" align=center><BR></P>
<P style="margin:0px" align=center><BR></P>
<P style="margin:0px" align=justify><BR></P>
<P style="margin:0px; page-break-before:always" align=justify><BR></P>
<P style="margin:0px" align=justify><BR></P>
<P style="line-height:14pt; margin:0px; font-size:12pt" align=center><B>REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM</B></P>
<P style="margin:0px" align=justify><BR></P>
<P style="margin:0px" align=justify><BR></P>
<P style="line-height:13pt; margin:0px; font-size:11pt" align=justify>To the Trustees of AmeriServ Financial 401(k) Profit Sharing Plan</P>
<P style="line-height:13pt; margin:0px; font-size:11pt" align=justify>Johnstown, Pennsylvania</P>
<P style="margin:0px" align=justify><BR></P>
<P style="line-height:13pt; margin:0px; font-size:11pt" align=justify>We have audited the accompanying statement of net assets available for benefits of AmeriServ Financial 401(k) Profit Sharing Plan as of December 31, 2013 and 2012, and the related statement of changes in net assets available for benefits for the years then ended. &nbsp;These financial statements are the responsibility of AmeriServ Financial 401(k) Profit Sharing Plan&#146;s management. &nbsp;Our responsibility is to express an opinion on these financial statements based on our audits. &nbsp;</P>
<P style="margin:0px" align=justify><BR></P>
<P style="margin:0px; font-size:11pt" align=justify>We conducted our audits in accordance with the standards of the Public Company Accounting Oversight Board (United States). &nbsp;Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. &nbsp;An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. &nbsp;An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. &nbsp;We believe that our audits provide a reasonable basis for our opinion.</P>
<P style="margin:0px" align=justify><BR></P>
<P style="margin:0px; font-size:11pt" align=justify>In our opinion, the financial statements referred to above present fairly, in all material respects, the net assets available for benefits of AmeriServ Financial 401(k) Profit Sharing Plan as of December 31, 2013 and 2012, and the changes in net assets available for benefits for the years then ended, in conformity with U.S. generally accepted accounting principles.</P>
<P style="margin:0px" align=justify><BR></P>
<P style="margin:0px; font-size:11pt" align=justify>Our audits were made for the purpose of forming an opinion on the basic financial statements taken as a whole. &nbsp;The supplemental schedule, Schedule H, Line 4i, Schedule of Assets (Held at End of Year) as of December 31, 2013, is presented for the purpose of additional analysis and is not a required part of the basic financial statements, but is supplementary information required by the United States Department of Labor&#146;s Rules and Regulations for Reporting and Disclosure under the Employee Retirement Income Security Act of 1974. &nbsp;The supplemental schedule is the responsibility of AmeriServ Financial 401(k) Profit Sharing Plan&#146;s management. &nbsp;The supplemental schedule has been subjected to the auditing procedures applied in the audit of the basic financial statements and, in our opinion, is fairly stated in all material respects in relation to the basic financial statements taken as a whole.</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px"><BR></P>
<P style="margin:0px"><BR></P>
<P style="line-height:13pt; margin:0px; font-size:11pt" align=justify>/s/S.R. Snodgrass, P.C.</P>
<P style="line-height:13pt; margin:0px; font-size:11pt" align=justify>Wexford, Pennsylvania</P>
<P style="line-height:13pt; margin:0px; font-size:11pt">June 17, 2014</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px" align=justify><BR>
<BR></P>
<P style="margin:0px" align=center><BR></P>
<P style="margin:0px" align=center><BR></P>
<P style="margin:0px" align=justify><BR></P>
<P style="margin:0px; page-break-before:always" align=justify><BR></P>
<P style="margin:0px" align=justify><BR></P>
<P style="line-height:14pt; margin:0px; font-size:12pt" align=center><B>AMERISERV FINANCIAL 401(k) PROFIT SHARING PLAN</B></P>
<P style="line-height:14pt; margin:0px; font-size:12pt" align=center><B>STATEMENT OF NET ASSETS AVAILABLE FOR BENEFITS</B></P>
<TABLE style="font-size:10pt" cellspacing=0><TR style="font-size:0"><TD width=38.6></TD><TD width=28.6></TD><TD width=48></TD><TD width=30.8></TD><TD width=69.067></TD><TD width=146.133></TD><TD width=30></TD><TD width=90></TD><TD width=24></TD><TD width=24></TD><TD width=96></TD></TR>
<TR><TD valign=top width=67.2 colspan=2><P>&nbsp;</P></TD><TD valign=top width=78.8 colspan=2><P>&nbsp;</P></TD><TD valign=top width=69.067><P>&nbsp;</P></TD><TD valign=top width=146.133><P>&nbsp;</P></TD><TD valign=bottom width=264 colspan=5><P style="margin:0px" align=center>December 31,</P>
</TD></TR>
<TR><TD valign=top width=67.2 colspan=2><P style="margin:0px"><BR></P>
</TD><TD valign=top width=78.8 colspan=2><P>&nbsp;</P></TD><TD valign=top width=69.067><P>&nbsp;</P></TD><TD valign=top width=146.133><P>&nbsp;</P></TD><TD style="border-bottom:1px solid #000000" valign=bottom width=120 colspan=2><P style="margin:0px" align=center>2013</P>
</TD><TD valign=bottom width=24><P>&nbsp;</P></TD><TD style="border-bottom:1px solid #000000" valign=bottom width=120 colspan=2><P style="margin:0px" align=center>2012</P>
</TD></TR>
<TR><TD valign=top width=67.2 colspan=2><P style="margin:0px">ASSETS</P>
</TD><TD valign=top width=78.8 colspan=2><P>&nbsp;</P></TD><TD valign=top width=69.067><P>&nbsp;</P></TD><TD valign=top width=146.133><P>&nbsp;</P></TD><TD valign=top width=30><P>&nbsp;</P></TD><TD valign=top width=90><P>&nbsp;</P></TD><TD valign=top width=24><P>&nbsp;</P></TD><TD valign=top width=24><P>&nbsp;</P></TD><TD valign=top width=96><P>&nbsp;</P></TD></TR>
<TR><TD valign=top width=38.6><P>&nbsp;</P></TD><TD valign=top width=322.6 colspan=5><P style="margin:0px">Investments, at fair value:</P>
</TD><TD valign=top width=30><P>&nbsp;</P></TD><TD valign=top width=90><P>&nbsp;</P></TD><TD valign=top width=24><P>&nbsp;</P></TD><TD valign=top width=24><P>&nbsp;</P></TD><TD valign=top width=96><P>&nbsp;</P></TD></TR>
<TR><TD valign=top width=67.2 colspan=2><P>&nbsp;</P></TD><TD valign=top width=294 colspan=4><P style="margin:0px">Common / Collective Funds</P>
</TD><TD valign=top width=30><P style="margin:0px" align=right>$</P>
</TD><TD valign=top width=90><P style="margin:0px" align=right>17,686,772</P>
</TD><TD valign=top width=24><P>&nbsp;</P></TD><TD valign=top width=24><P style="margin:0px" align=right>$</P>
</TD><TD valign=top width=96><P style="margin:0px" align=right>14,920,180</P>
</TD></TR>
<TR><TD valign=top width=67.2 colspan=2><P>&nbsp;</P></TD><TD valign=top width=294 colspan=4><P style="margin:0px">Mutual Funds</P>
</TD><TD valign=top width=30><P>&nbsp;</P></TD><TD valign=top width=90><P style="margin:0px" align=right>8,549,525</P>
</TD><TD valign=top width=24><P>&nbsp;</P></TD><TD valign=top width=24><P>&nbsp;</P></TD><TD valign=top width=96><P style="margin:0px" align=right>6,691,794</P>
</TD></TR>
<TR><TD valign=top width=67.2 colspan=2><P>&nbsp;</P></TD><TD valign=top width=294 colspan=4><P style="margin:0px">AmeriServ Financial, Inc. Common Stock</P>
</TD><TD valign=top width=30><P>&nbsp;</P></TD><TD valign=top width=90><P style="margin:0px" align=right>337,584</P>
</TD><TD valign=top width=24><P>&nbsp;</P></TD><TD valign=top width=24><P>&nbsp;</P></TD><TD valign=top width=96><P style="margin:0px" align=right>417,023</P>
</TD></TR>
<TR><TD valign=top width=67.2 colspan=2><P>&nbsp;</P></TD><TD valign=top width=294 colspan=4><P style="margin:0px">AmeriServ Financial Capital Trust Preferred Stock</P>
</TD><TD valign=top width=30><P>&nbsp;</P></TD><TD valign=top width=90><P style="margin:0px" align=right>463,955</P>
</TD><TD valign=top width=24><P>&nbsp;</P></TD><TD valign=top width=24><P>&nbsp;</P></TD><TD valign=top width=96><P style="margin:0px" align=right>496,807</P>
</TD></TR>
<TR><TD valign=top width=67.2 colspan=2><P>&nbsp;</P></TD><TD valign=top width=294 colspan=4><P style="margin:0px">Annuities</P>
</TD><TD valign=top width=30><P>&nbsp;</P></TD><TD valign=top width=90><P style="margin:0px" align=right>918,318</P>
</TD><TD valign=top width=24><P>&nbsp;</P></TD><TD valign=top width=24><P>&nbsp;</P></TD><TD valign=top width=96><P style="margin:0px" align=right>111,818</P>
</TD></TR>
<TR><TD valign=top width=67.2 colspan=2><P>&nbsp;</P></TD><TD valign=top width=294 colspan=4><P style="margin:0px">Money Market Funds/Cash Equivalents</P>
</TD><TD style="border-bottom:1px solid #000000" valign=top width=30><P>&nbsp;</P></TD><TD style="border-bottom:1px solid #000000" valign=top width=90><P style="margin:0px" align=right>1,858,560</P>
</TD><TD valign=top width=24><P>&nbsp;</P></TD><TD valign=top width=24><P>&nbsp;</P></TD><TD style="border-bottom:1px solid #000000" valign=top width=96><P style="margin:0px" align=right>1,879,476</P>
</TD></TR>
<TR><TD valign=top width=67.2 colspan=2><P>&nbsp;</P></TD><TD valign=top width=48><P>&nbsp;</P></TD><TD valign=top width=246 colspan=3><P style="margin:0px">Total Investments</P>
</TD><TD valign=top width=30><P>&nbsp;</P></TD><TD valign=top width=90><P style="margin:0px" align=right>29,814,714</P>
</TD><TD valign=top width=24><P>&nbsp;</P></TD><TD valign=top width=24><P>&nbsp;</P></TD><TD valign=top width=96><P style="margin:0px" align=right>24,517,098</P>
</TD></TR>
<TR><TD valign=top width=38.6><P>&nbsp;</P></TD><TD valign=bottom width=322.6 colspan=5><P style="margin:0px">Cash</P>
</TD><TD valign=bottom width=30><P>&nbsp;</P></TD><TD valign=bottom width=90><P style="margin:0px" align=right>197,160</P>
</TD><TD valign=bottom width=24><P>&nbsp;</P></TD><TD valign=bottom width=24><P>&nbsp;</P></TD><TD valign=bottom width=96><P style="margin:0px" align=right>10,286</P>
</TD></TR>
<TR><TD valign=top width=38.6><P>&nbsp;</P></TD><TD valign=bottom width=322.6 colspan=5><P style="margin:0px">Notes Receivable From Participants</P>
</TD><TD valign=bottom width=30><P>&nbsp;</P></TD><TD valign=bottom width=90><P style="margin:0px" align=right>336,859</P>
</TD><TD valign=bottom width=24><P>&nbsp;</P></TD><TD valign=bottom width=24><P>&nbsp;</P></TD><TD valign=bottom width=96><P style="margin:0px" align=right>404,944</P>
</TD></TR>
<TR><TD valign=top width=38.6><P>&nbsp;</P></TD><TD valign=bottom width=322.6 colspan=5><P style="margin:0px">Contribution Receivable From Employer</P>
</TD><TD valign=bottom width=30><P>&nbsp;</P></TD><TD valign=bottom width=90><P style="margin:0px" align=right>14,304</P>
</TD><TD valign=bottom width=24><P>&nbsp;</P></TD><TD valign=bottom width=24><P>&nbsp;</P></TD><TD valign=bottom width=96><P style="margin:0px" align=right>11,423</P>
</TD></TR>
<TR><TD valign=top width=38.6><P>&nbsp;</P></TD><TD valign=bottom width=322.6 colspan=5><P style="margin:0px">Contribution Receivable From Participants</P>
</TD><TD valign=bottom width=30><P>&nbsp;</P></TD><TD valign=bottom width=90><P style="margin:0px" align=right>39,329</P>
</TD><TD valign=bottom width=24><P>&nbsp;</P></TD><TD valign=bottom width=24><P>&nbsp;</P></TD><TD valign=bottom width=96><P style="margin:0px" align=right>35,966</P>
</TD></TR>
<TR><TD valign=top width=38.6><P>&nbsp;</P></TD><TD valign=bottom width=322.6 colspan=5><P style="margin:0px">Accrued Interest Receivable</P>
</TD><TD style="border-bottom:1px solid #000000" valign=bottom width=30><P>&nbsp;</P></TD><TD style="border-bottom:1px solid #000000" valign=bottom width=90><P style="margin:0px" align=right>4,080</P>
</TD><TD valign=bottom width=24><P>&nbsp;</P></TD><TD style="border-bottom:1px solid #000000" valign=bottom width=24><P>&nbsp;</P></TD><TD style="border-bottom:1px solid #000000" valign=bottom width=96><P style="margin:0px" align=right>4,491</P>
</TD></TR>
<TR><TD valign=bottom width=361.2 colspan=6><P style="margin:0px">Net assets available for benefits, at fair value</P>
</TD><TD valign=bottom width=30><P>&nbsp;</P></TD><TD valign=bottom width=90><P style="margin:0px" align=right>30,406,446</P>
</TD><TD valign=bottom width=24><P>&nbsp;</P></TD><TD valign=bottom width=24><P>&nbsp;</P></TD><TD valign=bottom width=96><P style="margin:0px" align=right>24,984,208</P>
</TD></TR>
<TR><TD valign=bottom width=361.2 colspan=6><P style="margin:0px">Adjustment from fair value to contract value for fully benefit-</P>
<P style="margin:0px">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;responsive investment contracts</P>
</TD><TD style="border-bottom:1px solid #000000" valign=bottom width=30><P>&nbsp;</P></TD><TD style="border-bottom:1px solid #000000" valign=bottom width=90><P style="margin:0px" align=right>(4,551)</P>
</TD><TD valign=bottom width=24><P>&nbsp;</P></TD><TD style="border-bottom:1px solid #000000" valign=bottom width=24><P>&nbsp;</P></TD><TD style="border-bottom:1px solid #000000" valign=bottom width=96><P style="margin:0px" align=right>(32,847)</P>
</TD></TR>
<TR><TD valign=bottom width=361.2 colspan=6><P style="margin:0px">NET ASSETS AVAILABLE FOR BENEFITS</P>
</TD><TD style="border-bottom:3px double #000000" valign=bottom width=30><P style="margin:0px" align=right>$</P>
</TD><TD style="border-bottom:3px double #000000" valign=bottom width=90><P style="margin:0px" align=right>30,401,895</P>
</TD><TD valign=bottom width=24><P>&nbsp;</P></TD><TD style="border-bottom:3px double #000000" valign=bottom width=24><P style="margin:0px" align=right>$</P>
</TD><TD style="border-bottom:3px double #000000" valign=bottom width=96><P style="margin:0px" align=right>24,951,361</P>
</TD></TR>
<TR><TD valign=bottom width=625.2 colspan=11><P>&nbsp;</P></TD></TR>
</TABLE>
<P style="line-height:14pt; margin:0px; font-size:12pt" align=center>The accompanying notes are an integral part of these financial statements.</P>
<P style="margin:0px" align=center><BR></P>
<P style="line-height:14pt; margin:0px; font-size:12pt" align=center>4</P>
<P style="margin:0px" align=center><BR>
<BR></P>
<P style="margin:0px"><BR></P>
<P style="margin:0px" align=justify><BR></P>
<P style="margin:0px; page-break-before:always" align=justify><BR></P>
<P style="margin:0px" align=justify><BR></P>
<P style="margin:0px" align=center><BR></P>
<P style="line-height:14pt; margin-top:0px; margin-bottom:14.667px; font-size:12pt" align=center><B>AMERISERV FINANCIAL 401(k) PROFIT SHARING PLAN<BR>
STATEMENT OF CHANGES IN NET ASSETS AVAILABLE FOR BENEFITS</B></P>
<TABLE style="font-size:10pt" cellspacing=0><TR style="font-size:0"><TD width=43.733></TD><TD width=5.467></TD><TD width=34.6></TD><TD width=9.333></TD><TD width=43.6></TD><TD width=37.067></TD><TD width=130.667></TD><TD width=8.667></TD><TD width=22.4></TD><TD width=21.133></TD><TD width=37.533></TD><TD width=21.267></TD><TD width=82.867></TD><TD width=22.4></TD><TD width=22.533></TD><TD width=95.133></TD></TR>
<TR><TD valign=top width=93.133 colspan=4><P>&nbsp;</P></TD><TD valign=top width=80.667 colspan=2><P>&nbsp;</P></TD><TD valign=top width=139.333 colspan=2><P>&nbsp;</P></TD><TD valign=top width=43.533 colspan=2><P>&nbsp;</P></TD><TD valign=top width=37.533><P>&nbsp;</P></TD><TD style="border-bottom:1px solid #000000" valign=top width=244.2 colspan=5><P style="margin:0px" align=center>Year Ended December 31,</P>
</TD></TR>
<TR><TD valign=top width=93.133 colspan=4><P>&nbsp;</P></TD><TD valign=top width=80.667 colspan=2><P>&nbsp;</P></TD><TD valign=top width=139.333 colspan=2><P>&nbsp;</P></TD><TD valign=top width=43.533 colspan=2><P>&nbsp;</P></TD><TD valign=top width=37.533><P>&nbsp;</P></TD><TD style="border-bottom:1px solid #000000" valign=bottom width=104.133 colspan=2><P style="margin:0px" align=center>2013</P>
</TD><TD valign=bottom width=22.4><P>&nbsp;</P></TD><TD style="border-bottom:1px solid #000000" valign=bottom width=117.667 colspan=2><P style="margin:0px" align=center>2012</P>
</TD></TR>
<TR><TD valign=bottom width=394.2 colspan=11><P style="margin:0px" align=justify>ADDITIONS TO NET ASSETS ATTRIBUTED TO:</P>
</TD><TD valign=top width=21.267><P>&nbsp;</P></TD><TD valign=top width=82.867><P>&nbsp;</P></TD><TD valign=top width=22.4><P>&nbsp;</P></TD><TD valign=top width=22.533><P>&nbsp;</P></TD><TD valign=top width=95.133><P>&nbsp;</P></TD></TR>
<TR><TD valign=bottom width=43.733><P>&nbsp;</P></TD><TD valign=bottom width=312.933 colspan=9><P style="margin:0px" align=justify>INVESTMENT INCOME:</P>
</TD><TD valign=bottom width=37.533><P>&nbsp;</P></TD><TD valign=bottom width=21.267><P>&nbsp;</P></TD><TD valign=bottom width=82.867><P>&nbsp;</P></TD><TD valign=bottom width=22.4><P>&nbsp;</P></TD><TD valign=top width=22.533><P>&nbsp;</P></TD><TD valign=top width=95.133><P>&nbsp;</P></TD></TR>
<TR><TD valign=top width=43.733><P>&nbsp;</P></TD><TD valign=top width=40.067 colspan=2><P>&nbsp;</P></TD><TD valign=top width=310.4 colspan=8><P>&nbsp;</P></TD><TD valign=top width=21.267><P>&nbsp;</P></TD><TD valign=top width=82.867><P>&nbsp;</P></TD><TD valign=top width=22.4><P>&nbsp;</P></TD><TD valign=top width=22.533><P>&nbsp;</P></TD><TD valign=top width=95.133><P>&nbsp;</P></TD></TR>
<TR><TD valign=top width=43.733><P>&nbsp;</P></TD><TD valign=top width=40.067 colspan=2><P>&nbsp;</P></TD><TD valign=top width=310.4 colspan=8><P style="margin:0px">Net appreciation in fair value of investment</P>
</TD><TD valign=top width=21.267><P style="margin:0px" align=right>$</P>
</TD><TD valign=top width=82.867><P style="margin:0px" align=right>4,090,774</P>
</TD><TD valign=top width=22.4><P>&nbsp;</P></TD><TD valign=top width=22.533><P style="margin:0px" align=right>$</P>
</TD><TD valign=top width=95.133><P style="margin:0px" align=right>2,411,734</P>
</TD></TR>
<TR><TD valign=top width=43.733><P>&nbsp;</P></TD><TD valign=top width=40.067 colspan=2><P>&nbsp;</P></TD><TD valign=top width=251.733 colspan=6><P style="margin:0px" align=justify>Interest and dividends</P>
</TD><TD valign=top width=58.667 colspan=2><P>&nbsp;</P></TD><TD style="border-bottom:1px solid #000000" valign=top width=21.267><P>&nbsp;</P></TD><TD style="border-bottom:1px solid #000000" valign=top width=82.867><P style="margin:0px" align=right>416,337</P>
</TD><TD valign=top width=22.4><P>&nbsp;</P></TD><TD style="border-bottom:1px solid #000000" valign=top width=22.533><P>&nbsp;</P></TD><TD style="border-bottom:1px solid #000000" valign=top width=95.133><P style="margin:0px" align=right>260,333</P>
</TD></TR>
<TR><TD valign=bottom width=136.733 colspan=5><P>&nbsp;</P></TD><TD valign=bottom width=257.467 colspan=6><P style="margin:0px" align=justify>Total Investment Income </P>
</TD><TD style="border-bottom:1px solid #000000" valign=bottom width=21.267><P>&nbsp;</P></TD><TD style="border-bottom:1px solid #000000" valign=bottom width=82.867><P style="margin:0px" align=right>4,507,111</P>
</TD><TD valign=bottom width=22.4><P>&nbsp;</P></TD><TD style="border-bottom:1px solid #000000" valign=bottom width=22.533><P>&nbsp;</P></TD><TD style="border-bottom:1px solid #000000" valign=bottom width=95.133><P style="margin:0px" align=right>2,672,067</P>
</TD></TR>
<TR><TD valign=bottom width=43.733><P>&nbsp;</P></TD><TD valign=bottom width=350.467 colspan=10><P style="margin:0px" align=justify>Interest income on notes receivable from participants</P>
</TD><TD valign=bottom width=21.267><P>&nbsp;</P></TD><TD valign=bottom width=82.867><P style="margin:0px" align=right>17,276</P>
</TD><TD valign=bottom width=22.4><P>&nbsp;</P></TD><TD valign=bottom width=22.533><P>&nbsp;</P></TD><TD valign=bottom width=95.133><P style="margin:0px" align=right>19,780</P>
</TD></TR>
<TR><TD valign=bottom width=49.2 colspan=2><P>&nbsp;</P></TD><TD valign=bottom width=345 colspan=9><P style="margin:0px" align=justify>CONTRIBUTIONS:</P>
</TD><TD valign=top width=21.267><P>&nbsp;</P></TD><TD valign=top width=82.867><P>&nbsp;</P></TD><TD valign=top width=22.4><P>&nbsp;</P></TD><TD valign=top width=22.533><P>&nbsp;</P></TD><TD valign=top width=95.133><P>&nbsp;</P></TD></TR>
<TR><TD valign=top width=83.8 colspan=3><P>&nbsp;</P></TD><TD valign=top width=310.4 colspan=8><P style="margin:0px" align=justify>Contributions by participants</P>
</TD><TD valign=top width=21.267><P>&nbsp;</P></TD><TD valign=top width=82.867><P style="margin:0px" align=right>1,025,498</P>
</TD><TD valign=top width=22.4><P>&nbsp;</P></TD><TD valign=top width=22.533><P>&nbsp;</P></TD><TD valign=top width=95.133><P style="margin:0px" align=right>934,208</P>
</TD></TR>
<TR><TD valign=top width=83.8 colspan=3><P>&nbsp;</P></TD><TD valign=top width=310.4 colspan=8><P style="margin:0px" align=justify>Contributions by employer</P>
</TD><TD valign=top width=21.267><P>&nbsp;</P></TD><TD valign=top width=82.867><P style="margin:0px" align=right>319,170</P>
</TD><TD valign=top width=22.4><P>&nbsp;</P></TD><TD valign=top width=22.533><P>&nbsp;</P></TD><TD valign=top width=95.133><P style="margin:0px" align=right>268,365</P>
</TD></TR>
<TR><TD valign=top width=83.8 colspan=3><P>&nbsp;</P></TD><TD valign=top width=310.4 colspan=8><P style="margin:0px" align=justify>Rollovers</P>
</TD><TD style="border-bottom:1px solid #000000" valign=top width=21.267><P>&nbsp;</P></TD><TD style="border-bottom:1px solid #000000" valign=top width=82.867><P style="margin:0px" align=right>722,034</P>
</TD><TD valign=top width=22.4><P>&nbsp;</P></TD><TD style="border-bottom:1px solid #000000" valign=top width=22.533><P>&nbsp;</P></TD><TD style="border-bottom:1px solid #000000" valign=top width=95.133><P style="margin:0px" align=right>162,212</P>
</TD></TR>
<TR><TD valign=top width=136.733 colspan=5><P>&nbsp;</P></TD><TD valign=top width=257.467 colspan=6><P style="margin:0px" align=justify>Total Contributions</P>
</TD><TD style="border-bottom:1px solid #000000" valign=top width=21.267><P>&nbsp;</P></TD><TD style="border-bottom:1px solid #000000" valign=top width=82.867><P style="margin:0px" align=right>2,066,702</P>
</TD><TD valign=top width=22.4><P>&nbsp;</P></TD><TD style="border-bottom:1px solid #000000" valign=top width=22.533><P>&nbsp;</P></TD><TD style="border-bottom:1px solid #000000" valign=top width=95.133><P style="margin:0px" align=right>1,364,785</P>
</TD></TR>
<TR><TD valign=bottom width=136.733 colspan=5><P>&nbsp;</P></TD><TD valign=bottom width=257.467 colspan=6><P style="margin:0px" align=justify>Total Additions</P>
</TD><TD style="border-bottom:1px solid #000000" valign=bottom width=21.267><P>&nbsp;</P></TD><TD style="border-bottom:1px solid #000000" valign=bottom width=82.867><P style="margin:0px" align=right>6,591,089</P>
</TD><TD valign=bottom width=22.4><P>&nbsp;</P></TD><TD style="border-bottom:1px solid #000000" valign=bottom width=22.533><P>&nbsp;</P></TD><TD style="border-bottom:1px solid #000000" valign=bottom width=95.133><P style="margin:0px" align=right>4,056,632</P>
</TD></TR>
<TR><TD valign=bottom width=394.2 colspan=11><P style="margin:0px" align=justify>DEDUCTIONS FROM NET ASSETS ATTRIBUTED TO:</P>
</TD><TD valign=top width=21.267><P>&nbsp;</P></TD><TD valign=top width=82.867><P>&nbsp;</P></TD><TD valign=top width=22.4><P>&nbsp;</P></TD><TD valign=top width=22.533><P>&nbsp;</P></TD><TD valign=top width=95.133><P>&nbsp;</P></TD></TR>
<TR><TD valign=bottom width=93.133 colspan=4><P>&nbsp;</P></TD><TD valign=bottom width=301.067 colspan=7><P style="margin:0px" align=justify>Benefits paid to participants</P>
</TD><TD style="border-bottom:1px solid #000000" valign=bottom width=21.267><P>&nbsp;</P></TD><TD style="border-bottom:1px solid #000000" valign=bottom width=82.867><P style="margin:0px" align=right>1,140,555</P>
</TD><TD valign=bottom width=22.4><P>&nbsp;</P></TD><TD style="border-bottom:1px solid #000000" valign=bottom width=22.533><P>&nbsp;</P></TD><TD style="border-bottom:1px solid #000000" valign=bottom width=95.133><P style="margin:0px" align=right>2,722,649</P>
</TD></TR>
<TR><TD valign=bottom width=136.733 colspan=5><P>&nbsp;</P></TD><TD valign=bottom width=167.733 colspan=2><P style="margin:0px" align=justify>Net increase </P>
</TD><TD valign=bottom width=89.733 colspan=4><P>&nbsp;</P></TD><TD valign=bottom width=21.267><P>&nbsp;</P></TD><TD valign=bottom width=82.867><P style="margin:0px" align=right>5,450,534</P>
</TD><TD valign=bottom width=22.4><P>&nbsp;</P></TD><TD valign=bottom width=22.533><P>&nbsp;</P></TD><TD valign=bottom width=95.133><P style="margin:0px" align=right>1,333,983</P>
</TD></TR>
<TR><TD valign=bottom width=394.2 colspan=11><P style="margin:0px">NET ASSETS AVAILABLE FOR BENEFITS:</P>
</TD><TD valign=bottom width=21.267><P>&nbsp;</P></TD><TD valign=bottom width=82.867><P>&nbsp;</P></TD><TD valign=bottom width=22.4><P>&nbsp;</P></TD><TD valign=bottom width=22.533><P>&nbsp;</P></TD><TD valign=bottom width=95.133><P>&nbsp;</P></TD></TR>
<TR><TD valign=bottom width=83.8 colspan=3><P>&nbsp;</P></TD><TD valign=bottom width=310.4 colspan=8><P style="margin:0px" align=justify>Beginning of the year</P>
</TD><TD style="border-bottom:1px solid #000000" valign=bottom width=21.267><P>&nbsp;</P></TD><TD style="border-bottom:1px solid #000000" valign=bottom width=82.867><P style="margin:0px" align=right>24,951,361</P>
</TD><TD valign=bottom width=22.4><P>&nbsp;</P></TD><TD style="border-bottom:1px solid #000000" valign=bottom width=22.533><P>&nbsp;</P></TD><TD style="border-bottom:1px solid #000000" valign=bottom width=95.133><P style="margin:0px" align=right>23,617,378</P>
</TD></TR>
<TR><TD valign=bottom width=83.8 colspan=3><P>&nbsp;</P></TD><TD valign=bottom width=310.4 colspan=8><P style="margin:0px" align=justify>End of year</P>
</TD><TD style="border-bottom:3px double #000000" valign=bottom width=21.267><P style="margin:0px" align=right>$</P>
</TD><TD style="border-bottom:3px double #000000" valign=bottom width=82.867><P style="margin:0px" align=right>30,401,895</P>
</TD><TD valign=bottom width=22.4><P>&nbsp;</P></TD><TD style="border-bottom:3px double #000000" valign=bottom width=22.533><P style="margin:0px" align=right>$</P>
</TD><TD style="border-bottom:3px double #000000" valign=bottom width=95.133><P style="margin:0px" align=right>24,951,361</P>
</TD></TR>
</TABLE>
<P style="margin:0px" align=justify><BR></P>
<P style="margin:0px" align=justify><BR></P>
<P style="margin:0px" align=justify><BR></P>
<P style="margin:0px" align=center><BR></P>
<P style="margin:0px" align=center><BR></P>
<P style="margin-top:0px; margin-bottom:16px" align=center><BR></P>
<P style="margin:0px" align=justify><BR></P>
<P style="line-height:14pt; margin-top:0px; margin-bottom:16px; font-size:12pt">The accompanying notes are an integral part of these financial statements</P>
<P style="line-height:14pt; margin-top:0px; margin-bottom:16px; font-size:12pt" align=center>5</P>
<P style="margin-top:0px; margin-bottom:16px" align=center><BR>
<BR></P>
<P style="margin:0px"><BR></P>
<P style="margin:0px" align=justify><BR></P>
<P style="margin:0px; page-break-before:always" align=justify><BR></P>
<P style="margin:0px" align=justify><BR></P>
<P style="line-height:14pt; margin-top:0px; margin-bottom:14.667px; font-size:12pt" align=center><B>AMERISERV FINANCIAL 401(k) PROFIT SHARING PLAN<BR>
NOTES TO FINANCIAL STATEMENTS</B></P>
<P style="line-height:14pt; margin-top:0px; margin-bottom:16px; font-size:12pt">NOTE 1 - DESCRIPTION OF PLAN</P>
<P style="line-height:14pt; margin-top:0px; margin-bottom:16px; font-size:12pt" align=justify>The following brief description of the AmeriServ Financial 401(k) Profit Sharing Plan (the &#147;Plan&#148;) is provided for general information purposes only. &nbsp;Participants should refer to the Plan Document for a more comprehensive description of the Plan&#146;s provisions.</P>
<P style="line-height:14pt; margin:0px; font-size:12pt" align=justify><U>General</U></P>
<P style="margin:0px" align=justify><BR></P>
<P style="line-height:14pt; margin-top:0px; margin-bottom:16px; font-size:12pt" align=justify>The Plan is a defined contribution plan covering the employees of AmeriServ Financial, Inc., and its wholly owned subsidiaries AmeriServ Financial Bank, and AmeriServ Trust and Financial Services, (the &#147;Companies&#148;), including members of the United Steelworkers of America, AFL-CIO-CLC, Local Union 2653-06 (the &#147;Union&#148;). &nbsp;Following the amendment to close the defined benefit plan to employees hired after December 31, 2012, the Plan was amended, effective January 1, 2013. &nbsp;Union employees who have attained the age of 21 and the earlier of completion of 12 consecutive months of service with at least 500 hours of service are eligible to participate, but are not eligible to receive an employer discretionary contribution until achieving 1,000 hours of service. &nbsp;Non-union employees hired and rehired after December 31, 2012, are eligible to participate upon hire.<FONT style="color:#00FFFF"> &nbsp;</FONT>The Plan includes a 401(k) before-tax savings feature, which permits participants to defer compensation under Section 401(k) of the Internal Revenue Code. &nbsp;It is subject to the provisions of the Employee Retirement Income Security Act of 1974 (ERISA), as amended. &nbsp;The Plan is not covered by the Pension Benefit Guaranty Corporation.</P>
<P style="line-height:14pt; margin-top:0px; margin-bottom:16px; font-size:12pt"><U>Contributions</U></P>
<P style="line-height:14pt; margin-top:0px; margin-bottom:16px; font-size:12pt" align=justify>Employees hired prior to December 31, 2012, may elect to contribute, through the 401(k) feature, 1 percent to 100 percent of their base salaries each period to the maximum amount permitted by the Internal Revenue Code. Non-union employees hired or rehired after December 31, 2012, will be provided an employer matching contribution equal 50% of the first 6% of deferred compensation. &nbsp;These employees, in addition to all Union employees, will receive a nonelective contribution or 4% of their base pay plus commissions. <FONT style="color:#00FFFF">&nbsp;</FONT>&nbsp;Employees may elect to have their contributions, in 5 percent increments, invested in one or more of 33 mutual funds, 7 common/collective portfolios, 2 money market/cash equivalent &nbsp;funds, and the AmeriServ Financial, Inc. common or preferred stock administered by the Plan&#146;s trustee. &nbsp;The diversified mutual fund investment options include bond and government securities funds and various U.S. and foreign stock funds. &nbsp;Additionally, participants can elect to have a portion of their portfolio invested in annuity accounts, which are restricted based on age and minimum investment thresholds.</P>
<P style="line-height:14pt; margin-top:0px; margin-bottom:16px; font-size:12pt" align=justify>The Companies have the right to make a discretionary contribution to the Plan. &nbsp;Any contribution to be made will be on an annual basis, and such contribution is allocated as a percentage of compensation of eligible participants for the year. &nbsp;For non-union employees hired before December 31, 2012 the match is 50 percent of the first 2 percent of pretax 401(k) contributions. Participants who have attained age 50 before the end of the plan year are eligible to make catch-up contributions. Participants may also contribute amounts representing distributions from other qualified defined benefit or defined contribution plans.</P>
<P style="line-height:14pt; margin-top:0px; margin-bottom:16px; font-size:12pt" align=center>6</P>
<P style="line-height:14pt; margin-top:0px; margin-bottom:16px; font-size:12pt" align=justify>NOTE 1 - DESCRIPTION OF PLAN (continued)</P>
<P style="line-height:14pt; margin-top:0px; margin-bottom:16px; font-size:12pt"><U>Participant Accounts</U></P>
<P style="line-height:14pt; margin-top:0px; margin-bottom:16px; font-size:12pt" align=justify>Each participant&#146;s account is credited with the participant&#146;s contribution and allocation of the company&#146;s contribution (if applicable) plus plan earnings. Allocations are based on participant earnings or account balances, as defined. The benefit to which a participant is entitled is the benefit that can be provided from the participant&#146;s vested balance.</P>
<P style="line-height:14pt; margin-top:0px; margin-bottom:16px; font-size:12pt"><U>Vesting</U></P>
<P style="line-height:14pt; margin-top:0px; margin-bottom:16px; font-size:12pt" align=justify>Participants are immediately vested in their voluntary contributions plus actual earnings thereon. &nbsp;Vesting in the Companies&#146; contributions in the Plan is based on completion of credited service years. &nbsp;A credited service year is considered one in which the participant completed at least 1,000 hours of service. &nbsp;Employees become 100 percent vested after three years of credited service.</P>
<P style="line-height:14pt; margin-top:0px; margin-bottom:16px; font-size:12pt"><U>Notes Receivable from Participants</U></P>
<P style="line-height:14pt; margin-top:0px; margin-bottom:16px; font-size:12pt" align=justify>Participants may borrow from their fund accounts a minimum of $1,000 up to a maximum equal to the lesser of $50,000 or 50 percent of their account balance. &nbsp;The loans are secured by the balance in the participant&#146;s account and bear interest rates that are commensurate with the five year AmeriServ Financial published home equity rate on the day the loan is requested. &nbsp;Principal and interest is paid ratably through bi-weekly payroll deductions. Interest rates on the notes receivable ranged from 2.89% to 13.24%, while the maturity dates ranged from September 30, 2014 to November 15, 2018.</P>
<P style="line-height:14pt; margin-top:0px; margin-bottom:16px; font-size:12pt"><U>Payment of Benefits</U></P>
<P style="line-height:14pt; margin-top:0px; margin-bottom:16px; font-size:12pt" align=justify>On termination of service, a participant will receive a lump sum amount equal to the vested value of his or her account. &nbsp;The Plan also provides for normal retirement benefits to be paid in the form of a lump sum upon reaching age 65 or termination of employment and has provisions for deferred, death, disability and retirement benefits, and hardship withdrawals.</P>
<P style="line-height:14pt; margin-top:0px; margin-bottom:16px; font-size:12pt"><U>Forfeitures</U></P>
<P style="line-height:14pt; margin-top:0px; margin-bottom:16px; font-size:12pt" align=justify>Forfeitures of a participant&#146;s non-vested account shall be restored upon rehire if such rehire happens at any time during his or her fifth consecutive one-year break in service. At the end of the Plan year in which the former participant incurs his or her fifth consecutive one-year break in service, the forfeitures held on behalf of the participant will be allocated to all participants eligible to share in the allocations in the same proportion that each participant&#146;s account balance bears to all account balances for such year. &nbsp;At December&nbsp;31, 2013 and 2012, the forfeiture account had a balance of $9,110 and $16,604 respectively. &nbsp;Forfeitures totaling $8,792 and $9,098 for the years ended December&nbsp;31, 2013 and 2012, respectively, were reallocated to participants&#146; accounts.</P>
<P style="line-height:14pt; margin-top:0px; margin-bottom:16px; font-size:12pt" align=center>7</P>
<P style="line-height:14pt; margin-top:0px; margin-bottom:16px; font-size:12pt">NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES</P>
<P style="line-height:14pt; margin-top:0px; margin-bottom:16px; font-size:12pt"><U>Basis of Accounting</U></P>
<P style="line-height:14pt; margin-top:0px; margin-bottom:16px; font-size:12pt">The financial statements of the Plan are prepared on the accrual basis of accounting.</P>
<P style="line-height:14pt; margin-top:0px; margin-bottom:16px; font-size:12pt"><U>Accounting Estimates </U></P>
<P style="line-height:14pt; margin-top:0px; margin-bottom:16px; font-size:12pt" align=justify>The financial statements have been prepared in conformity with U.S. generally accepted accounting principles. &nbsp;In preparing the financial statements, management is required to make estimates and assumptions that affect the reported amounts of assets and liabilities and changes therein and disclosures of contingent assets and liabilities. &nbsp;Actual results could differ from those estimates.</P>
<P style="line-height:14pt; margin-top:0px; margin-bottom:16px; font-size:12pt"><U>Valuation of Investments and Income Recognition</U></P>
<P style="line-height:14pt; margin-top:0px; margin-bottom:16px; font-size:12pt" align=justify>Investments are reported at fair value. Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. &nbsp;The Plan&#146;s Pension Committee determines the Plan&#146;s valuation policies utilizing information provided by investment advisors, custodians, and insurance company. &nbsp;See Note 7 for discussion of fair value measurements.</P>
<P style="line-height:14pt; margin-top:0px; margin-bottom:16px; font-size:12pt" align=justify>Purchase and sales of securities are recorded on a trade-date basis. Interest income is recorded on the accrual basis. Dividends are recorded on the ex-dividend date. Net appreciation (depreciation) includes the plan&#146;s gains and losses on investments bought and sold as well as held during the year. </P>
<P style="line-height:14pt; margin-top:0px; margin-bottom:16px; font-size:12pt" align=justify><U>Notes Receivable from Participants</U></P>
<P style="line-height:14pt; margin-top:0px; margin-bottom:16px; font-size:12pt" align=justify>Notes receivable from participants are measured at their unpaid principal balance plus any accrued interest. Interest income is recorded on the accrual basis. &nbsp;Delinquent participant loans are reclassified as distributions based upon the terms of the plan document. &nbsp;No allowance for credit losses has been recorded as of December 31, 2013 or 2012. &nbsp;If a participant ceases to make loan repayments and the plan administrator deems the participant loan to be in default, the participant loan balance is reduced and a benefit payment is recorded.</P>
<P style="line-height:14pt; margin-top:0px; margin-bottom:16px; font-size:12pt"><U>Payment of Benefits</U></P>
<P style="line-height:14pt; margin-top:0px; margin-bottom:16px; font-size:12pt" align=justify>Benefit payments to participants are recorded upon distribution.</P>
<P style="line-height:14pt; margin-top:0px; margin-bottom:16px; font-size:12pt" align=justify><U>Excess Contributions Payable</U></P>
<P style="line-height:14pt; margin-top:0px; margin-bottom:16px; font-size:12pt" align=justify>Amounts payable to participants for contributions in excess of amounts allowed by the IRS are recorded as a liability with a corresponding reduction to contributions. &nbsp;There were no contributions payable as of December 31, 2013 or 2012.</P>
<P style="line-height:14pt; margin-top:0px; margin-bottom:16px; font-size:12pt" align=center>8</P>
<P style="margin-top:0px; margin-bottom:16px"><BR></P>
<P style="line-height:14pt; margin-top:0px; margin-bottom:16px; font-size:12pt">NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued)</P>
<P style="line-height:14pt; margin-top:0px; margin-bottom:16px; font-size:12pt"><U>Administrative Expenses</U></P>
<P style="line-height:14pt; margin-top:0px; margin-bottom:16px; font-size:12pt" align=justify>Certain administrative functions are performed by officers and employees of the Companies. &nbsp;No such officer or employee receives compensation from the Plan. &nbsp;Certain other administrative expenses are paid directly by the Companies. &nbsp;Such costs amounted to $119,307 and $95,360 for the years ended December&nbsp;31, 2013 and 2012, respectively. &nbsp;&nbsp;&nbsp;</P>
<P style="line-height:14pt; margin-top:0px; margin-bottom:16px; font-size:12pt" align=justify><U>Reclassification of Comparative Amounts</U></P>
<P style="line-height:14pt; margin-top:0px; margin-bottom:16px; font-size:12pt" align=justify>Certain comparative amounts for the prior year have been reclassified to conform to current-year classifications. &nbsp;Such classifications had no effect the net increase in plan assets or net assests available for benefits.</P>
<P style="line-height:14pt; margin-top:0px; margin-bottom:16px; font-size:12pt">NOTE 3 - INVESTMENTS</P>
<P style="line-height:14pt; margin-top:0px; margin-bottom:16px; font-size:12pt" align=justify>The Plan investments are administered by AmeriServ Trust and Financial Services (the &#147;Trustee&#148;). &nbsp;</P>
<P style="line-height:14pt; margin:0px; font-size:12pt" align=justify>The Plan&#146;s investments (including gains and losses on investments bought and sold, as well as held during the year) appreciated in value by $4,090,774 &nbsp;and $2,411,734 for the years ended December&nbsp;31, 2013 and 2012, respectively. </P>
<P style="margin-top:0px; margin-bottom:16px" align=justify><BR></P>
<TABLE style="font-size:10pt" cellspacing=0><TR style="font-size:0"><TD width=49.2></TD><TD width=109.733></TD><TD width=166.267></TD><TD width=24></TD><TD width=102></TD><TD width=27></TD><TD width=27></TD><TD width=120></TD></TR>
<TR><TD valign=bottom width=49.2><P>&nbsp;</P></TD><TD valign=bottom width=109.733><P>&nbsp;</P></TD><TD valign=bottom width=166.267><P>&nbsp;</P></TD><TD valign=bottom width=300 colspan=5><P style="margin-top:0px; margin-bottom:13.333px" align=center>Net Appreciation </P>
</TD></TR>
<TR><TD valign=bottom width=49.2><P>&nbsp;</P></TD><TD valign=bottom width=109.733><P>&nbsp;</P></TD><TD valign=bottom width=166.267><P>&nbsp;</P></TD><TD valign=bottom width=300 colspan=5><P style="margin-top:0px; margin-bottom:13.333px" align=center>in Fair Value During Year</P>
</TD></TR>
<TR><TD valign=bottom width=49.2><P>&nbsp;</P></TD><TD valign=bottom width=109.733><P>&nbsp;</P></TD><TD valign=bottom width=166.267><P>&nbsp;</P></TD><TD style="border-bottom:1px solid #000000" valign=bottom width=126 colspan=2><P style="margin-top:0px; margin-bottom:13.333px" align=center>2013</P>
</TD><TD valign=bottom width=27><P>&nbsp;</P></TD><TD style="border-bottom:1px solid #000000" valign=bottom width=147 colspan=2><P style="margin-top:0px; margin-bottom:13.333px" align=center>2012</P>
</TD></TR>
<TR><TD valign=bottom width=625.2 colspan=8><P>&nbsp;</P></TD></TR>
<TR><TD valign=bottom width=49.2><P>&nbsp;</P></TD><TD valign=bottom width=276 colspan=2><P style="margin-top:0px; margin-bottom:13.333px" align=justify>Common / Collective Funds</P>
</TD><TD valign=bottom width=24><P style="margin-top:0px; margin-bottom:13.333px" align=right>$</P>
</TD><TD valign=bottom width=102><P style="margin-top:0px; margin-bottom:13.333px" align=right>2,685,018</P>
</TD><TD valign=bottom width=27><P>&nbsp;</P></TD><TD valign=bottom width=27><P style="margin-top:0px; margin-bottom:13.333px" align=right>$</P>
</TD><TD valign=bottom width=120><P style="margin-top:0px; margin-bottom:13.333px" align=right>1,447,815</P>
</TD></TR>
<TR><TD valign=bottom width=49.2><P>&nbsp;</P></TD><TD valign=bottom width=276 colspan=2><P style="margin-top:0px; margin-bottom:13.333px" align=justify>Mutual Funds</P>
</TD><TD valign=bottom width=24><P>&nbsp;</P></TD><TD valign=bottom width=102><P style="margin-top:0px; margin-bottom:13.333px" align=right>1,365,720</P>
</TD><TD valign=bottom width=27><P>&nbsp;</P></TD><TD valign=bottom width=27><P>&nbsp;</P></TD><TD valign=bottom width=120><P style="margin-top:0px; margin-bottom:13.333px" align=right>825,523</P>
</TD></TR>
<TR><TD valign=bottom width=49.2><P>&nbsp;</P></TD><TD valign=bottom width=276 colspan=2><P style="margin-top:0px; margin-bottom:13.333px" align=justify>Annuities</P>
</TD><TD valign=bottom width=24><P>&nbsp;</P></TD><TD valign=bottom width=102><P style="margin-top:0px; margin-bottom:13.333px" align=right>32,500</P>
</TD><TD valign=bottom width=27><P>&nbsp;</P></TD><TD valign=bottom width=27><P>&nbsp;</P></TD><TD valign=bottom width=120><P style="margin-top:0px; margin-bottom:13.333px" align=right>1,818</P>
</TD></TR>
<TR><TD valign=bottom width=49.2><P>&nbsp;</P></TD><TD valign=bottom width=276 colspan=2><P style="margin-top:0px; margin-bottom:13.333px" align=justify>AmeriServ Financial Capital Trust Preferred Stock</P>
</TD><TD valign=bottom width=24><P>&nbsp;</P></TD><TD valign=bottom width=102><P style="margin-top:0px; margin-bottom:13.333px" align=right>3,610</P>
</TD><TD valign=bottom width=27><P>&nbsp;</P></TD><TD valign=bottom width=27><P>&nbsp;</P></TD><TD valign=bottom width=120><P style="margin-top:0px; margin-bottom:13.333px" align=right>20</P>
</TD></TR>
<TR><TD valign=bottom width=49.2><P>&nbsp;</P></TD><TD valign=bottom width=276 colspan=2><P style="margin-top:0px; margin-bottom:13.333px" align=justify>AmeriServ Financial, Inc. Common Stock</P>
</TD><TD style="border-bottom:1px solid #000000" valign=bottom width=24><P>&nbsp;</P></TD><TD style="border-bottom:1px solid #000000" valign=bottom width=102><P style="margin-top:0px; margin-bottom:13.333px" align=right>3,926</P>
</TD><TD valign=bottom width=27><P>&nbsp;</P></TD><TD style="border-bottom:1px solid #000000" valign=bottom width=27><P>&nbsp;</P></TD><TD style="border-bottom:1px solid #000000" valign=bottom width=120><P style="margin-top:0px; margin-bottom:13.333px" align=right>136,558</P>
</TD></TR>
<TR><TD valign=bottom width=325.2 colspan=3><P style="margin:0px" align=justify>Net appreciation in fair value</P>
</TD><TD style="border-bottom:3px double #000000" valign=bottom width=24><P style="margin:0px" align=right>$</P>
</TD><TD style="border-bottom:3px double #000000" valign=bottom width=102><P style="margin:0px" align=right>4,090,774</P>
</TD><TD valign=bottom width=27><P>&nbsp;</P></TD><TD style="border-bottom:3px double #000000" valign=bottom width=27><P style="margin:0px" align=right>$</P>
</TD><TD style="border-bottom:3px double #000000" valign=bottom width=120><P style="margin:0px" align=right>2,411,734</P>
</TD></TR>
</TABLE>
<P style="line-height:14pt; margin:0px; font-size:12pt" align=justify>&nbsp;&nbsp;&nbsp;</P>
<P style="line-height:14pt; margin:0px; font-size:12pt" align=center>9</P>
<P style="margin-top:0px; margin-bottom:16px"><BR>
<BR></P>
<P style="margin:0px"><BR></P>
<P style="margin:0px" align=justify><BR></P>
<P style="margin:0px; page-break-before:always" align=justify><BR></P>
<P style="margin:0px" align=justify><BR></P>
<P style="line-height:14pt; margin-top:0px; margin-bottom:16px; font-size:12pt">NOTE 3 &#150; INVESTMENTS (continued)</P>
<P style="line-height:14pt; margin:0px; font-size:12pt" align=justify>The fair value of investments representing 5 percent or more of the Plan&#146;s net assets at December&nbsp;31 are as follows:</P>
<TABLE style="font-size:10pt" cellspacing=0 align=center><TR style="font-size:0"><TD width=16.667></TD><TD width=107.667></TD><TD width=217.667></TD><TD width=36></TD><TD width=97.333></TD></TR>
<TR><TD valign=top width=16.667><P>&nbsp;</P></TD><TD valign=top width=107.667><P>&nbsp;</P></TD><TD valign=top width=217.667><P>&nbsp;</P></TD><TD valign=top width=36><P>&nbsp;</P></TD><TD style="border-bottom:1px solid #000000" valign=top width=97.333><P style="margin-top:0px; margin-bottom:13.333px" align=center>2013</P>
</TD></TR>
<TR><TD valign=top width=342 colspan=3><P style="margin-top:0px; margin-bottom:13.333px" align=justify>Goldman Sachs Financial Prime Obligation</P>
</TD><TD valign=top width=36><P style="margin-top:0px; margin-bottom:13.333px" align=right>$</P>
</TD><TD valign=top width=97.333><P style="margin-top:0px; margin-bottom:13.333px" align=right>1,584,553</P>
</TD></TR>
<TR><TD valign=top width=342 colspan=3><P style="margin-top:0px; margin-bottom:13.333px" align=justify>Federated Capital Preservation</P>
</TD><TD valign=top width=36><P>&nbsp;</P></TD><TD valign=top width=97.333><P style="margin-top:0px; margin-bottom:13.333px" align=right>1,600,050</P>
</TD></TR>
<TR><TD valign=top width=342 colspan=3><P style="margin-top:0px; margin-bottom:13.333px" align=justify>Vanguard Institutional Index</P>
</TD><TD valign=top width=36><P>&nbsp;</P></TD><TD valign=top width=97.333><P style="margin-top:0px; margin-bottom:13.333px" align=right>1,967,847</P>
</TD></TR>
<TR><TD valign=top width=342 colspan=3><P style="margin-top:0px; margin-bottom:13.333px" align=justify>Pathroad Tactical Balance Growth &amp; Income</P>
</TD><TD valign=top width=36><P>&nbsp;</P></TD><TD valign=top width=97.333><P style="margin-top:0px; margin-bottom:13.333px" align=right>6,476,450</P>
</TD></TR>
<TR><TD valign=top width=342 colspan=3><P style="margin-top:0px; margin-bottom:13.333px" align=justify>Pathroad Tactical Capital Appreciation &amp; Income</P>
</TD><TD valign=top width=36><P>&nbsp;</P></TD><TD valign=top width=97.333><P style="margin-top:0px; margin-bottom:13.333px" align=right>4,178,562</P>
</TD></TR>
<TR><TD valign=top width=342 colspan=3><P style="margin-top:0px; margin-bottom:13.333px" align=justify>Pathroad Tactical Conservation Growth &amp; Income</P>
</TD><TD valign=top width=36><P>&nbsp;</P></TD><TD valign=top width=97.333><P style="margin-top:0px; margin-bottom:13.333px" align=right>2,313,157</P>
</TD></TR>
<TR><TD valign=top width=342 colspan=3><P style="margin-top:0px; margin-bottom:13.333px" align=justify>Pathroad Tactical Long-Term Equity</P>
</TD><TD valign=top width=36><P>&nbsp;</P></TD><TD valign=top width=97.333><P style="margin-top:0px; margin-bottom:13.333px" align=right>2,191,703</P>
</TD></TR>
</TABLE>
<P style="margin-top:0px; margin-bottom:16px" align=justify><BR></P>
<TABLE style="font-size:10pt" cellspacing=0 align=center><TR style="font-size:0"><TD width=16.667></TD><TD width=107.667></TD><TD width=217.667></TD><TD width=36></TD><TD width=97.333></TD></TR>
<TR><TD valign=top width=16.667><P>&nbsp;</P></TD><TD valign=top width=107.667><P>&nbsp;</P></TD><TD valign=top width=217.667><P>&nbsp;</P></TD><TD valign=top width=36><P>&nbsp;</P></TD><TD style="border-bottom:1px solid #000000" valign=top width=97.333><P style="margin-top:0px; margin-bottom:13.333px" align=center>2012</P>
</TD></TR>
<TR><TD valign=top width=342 colspan=3><P style="margin-top:0px; margin-bottom:13.333px" align=justify>Goldman Sachs Financial Prime Obligation</P>
</TD><TD valign=top width=36><P style="margin-top:0px; margin-bottom:13.333px" align=right>$</P>
</TD><TD valign=top width=97.333><P style="margin-top:0px; margin-bottom:13.333px" align=right>1,627,723</P>
</TD></TR>
<TR><TD valign=top width=342 colspan=3><P style="margin-top:0px; margin-bottom:13.333px" align=justify>Federated Capital Preservation</P>
</TD><TD valign=top width=36><P>&nbsp;</P></TD><TD valign=top width=97.333><P style="margin-top:0px; margin-bottom:13.333px" align=right>1,901,678</P>
</TD></TR>
<TR><TD valign=top width=342 colspan=3><P style="margin-top:0px; margin-bottom:13.333px" align=justify>Vanguard Institutional Index</P>
</TD><TD valign=top width=36><P>&nbsp;</P></TD><TD valign=top width=97.333><P style="margin-top:0px; margin-bottom:13.333px" align=right>1,578,215</P>
</TD></TR>
<TR><TD valign=top width=342 colspan=3><P style="margin-top:0px; margin-bottom:13.333px" align=justify>Pathroad Tactical Balance Growth &amp; Income</P>
</TD><TD valign=top width=36><P>&nbsp;</P></TD><TD valign=top width=97.333><P style="margin-top:0px; margin-bottom:13.333px" align=right>4,972,275</P>
</TD></TR>
<TR><TD valign=top width=342 colspan=3><P style="margin-top:0px; margin-bottom:13.333px" align=justify>Pathroad Tactical Capital Appreciation &amp; Income</P>
</TD><TD valign=top width=36><P>&nbsp;</P></TD><TD valign=top width=97.333><P style="margin-top:0px; margin-bottom:13.333px" align=right>3,023,346</P>
</TD></TR>
<TR><TD valign=top width=342 colspan=3><P style="margin-top:0px; margin-bottom:13.333px" align=justify>Pathroad Tactical Conservation Growth &amp; Income</P>
</TD><TD valign=top width=36><P>&nbsp;</P></TD><TD valign=top width=97.333><P style="margin-top:0px; margin-bottom:13.333px" align=right>2,286,069</P>
</TD></TR>
<TR><TD valign=top width=342 colspan=3><P style="margin-top:0px; margin-bottom:13.333px" align=justify>Pathroad Tactical Long-Term Equity</P>
</TD><TD valign=top width=36><P>&nbsp;</P></TD><TD valign=top width=97.333><P style="margin-top:0px; margin-bottom:13.333px" align=right>1,292,000</P>
</TD></TR>
</TABLE>
<P style="margin-top:0px; margin-bottom:13.333px" align=justify><BR></P>
<P style="line-height:14pt; margin-top:0px; margin-bottom:13.333px; font-size:12pt" align=justify>The Plan invests in the Federated Capital Preservation Fund, which invests in fully benefit-responsive investment contracts. These investment contracts are recorded at fair value; however, since these contracts are fully benefit-responsive, an adjustment is reflected in the statements of net assets available for benefits to present these investments at contract value. &nbsp;Certain events could limit the ability of the Plan to transact at contract value with the issuers of the contracts held by the Federated Capital Preservation Fund. These events include, but are not limited to, layoffs, bankruptcy, plant closings, plan termination, mergers, and early retirement incentives. These events may cause liquidation of all or a portion of a contract at a market value adjustment. As of December&nbsp;31, 2013, the occurrence of any of these events, which could limit the Plan&#146;s ability to transact at contract value with participants, is not considered probable.</P>
<P style="line-height:14pt; margin-top:0px; margin-bottom:13.333px; font-size:12pt" align=justify>For the Federated Capital Preservation Fund, participants may ordinarily direct the withdrawal or transfer of all or a portion of their investment daily at contract value without any redemption notice or restrictions. &nbsp;Plan level initiated transactions require a twelve month redemption notice in order to withdraw at full book value. &nbsp;Plan level initiated transactions with less than a twelve month redemption notice may incur an adjustment to book value.</P>
<P style="line-height:14pt; margin-top:0px; margin-bottom:13.333px; font-size:12pt" align=justify>The average yield for the Federated Capital Preservation Fund based on actual earnings for years ended December 31, 2013 and 2012 was 1.15% and 1.64% respectively. &nbsp;This represents the annualized earnings of all investments in the Federated Capital Preservation Fund divided by the average balance of all investments, at fair value, in the Federated Capital Preservation Fund for year ended December 31, 2013.</P>
<P style="margin-top:0px; margin-bottom:13.333px" align=justify><BR></P>
<P style="line-height:14pt; margin-top:0px; margin-bottom:13.333px; font-size:12pt" align=center>10</P>
<P style="margin-top:0px; margin-bottom:13.333px" align=justify><BR></P>
<P style="line-height:14pt; margin-top:0px; margin-bottom:16px; font-size:12pt">NOTE 4 - PLAN TERMINATION</P>
<P style="line-height:14pt; margin-top:0px; margin-bottom:16px; font-size:12pt" align=justify>Although it has not expressed any intent to do so, the Companies have the right, under the Plan, to discontinue their contributions at any time and to terminate the Plan subject to the provisions of ERISA. &nbsp;In the event of termination of the Plan, participants will become 100 percent vested in their accounts.</P>
<P style="line-height:14pt; margin-top:0px; margin-bottom:16px; font-size:12pt">NOTE 5 - TAX STATUS</P>
<P style="line-height:14pt; margin-top:0px; margin-bottom:16px; font-size:12pt" align=justify>The Internal Revenue Service has determined and informed the Companies that the Plan is designed in accordance with applicable sections of the Internal Revenue Code (IRC) by letter dated April 9, 2012. &nbsp;The plan has been amended since receiving the opinion letter, the prototype sponsor and the Plan administrator believe that the Plan is designed and is currently being operated in compliance with the applicable requirements of the IRC. The plan administrator has analyzed the tax positions taken by the plan, and has concluded that as of December 31, 2013, there are no uncertain positions taken or expected to be taken that would require recognition of a liability or disclosure in the financial statements. The plan is subject to routine audits by taxing jurisdictions; however, there are currently no audits for any tax periods in progress. &nbsp;The Plan Administrator believes it is no longer subject to income tax examinations for years prior to 2010.</P>
<P style="line-height:14pt; margin-top:0px; margin-bottom:16px; font-size:12pt" align=justify>NOTE 6 &#150; PARTY-IN-INTEREST TRANSACTIONS</P>
<P style="line-height:14pt; margin-top:0px; margin-bottom:16px; font-size:12pt" align=justify>Certain Plan investments are shares of common/collective funds that are managed by the Trustee of the Plan. The balance of these funds is $16,086,722 and $13,018,502 representing 53% and 52% of net assets available for benefits as of December 31, 2013 and 2012, respectively. &nbsp;The Plan also invests in the Plan Sponsor&#146;s common and preferred stock. &nbsp;At December 31, 2013 and 2012, the Plan held 111,414 and 138,546 shares of AmeriServ Financial Inc. common stock and 18,052 and 19,475 shares of AmeriServ Financial Capital Trust preferred stock respectively. &nbsp;Dividends in the amount of $38,977 and $31,247 were received on preferred stock for the years ended December 31, 2013 and 2012, respectively. &nbsp;Therefore, related transactions qualify as related party transactions. All other transactions which may be considered parties-in-interest transactions relate to normal Plan management and administrative services and related payment of fees.</P>
<P style="line-height:14pt; margin-top:0px; margin-bottom:16px; font-size:12pt">NOTE 7 - FAIR VALUE MEASUREMENTS</P>
<P style="line-height:14pt; margin:0px; font-size:12pt" align=justify>The Plan provides enhanced disclosures about assets and liabilities carried at fair value. &nbsp;Disclosures follow a hierarchal framework that prioritizes the inputs to valuation techniques used to measure fair value. &nbsp;The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities and lowest priority to unobservable inputs. &nbsp;The three levels of the fair value hierarchy are described below:</P>
<P style="margin:0px" align=justify><BR></P>
<P style="line-height:14pt; margin-top:0px; margin-bottom:-18.667px; padding-left:84px; text-indent:-84px; font-size:12pt" align=justify>Level I:</P>
<P style="line-height:14pt; margin:0px; padding-left:84px; font-size:12pt" align=justify>Inputs to the valuation methodology are unadjusted quoted prices for identical assets or liabilities in active markets that the Plan has the ability to access.</P>
<P style="margin:0px" align=center><BR>
<BR></P>
<P style="margin:0px"><BR></P>
<P style="margin:0px" align=justify><BR></P>
<P style="margin:0px; page-break-before:always" align=justify><BR></P>
<P style="margin:0px" align=justify><BR></P>
<P style="line-height:14pt; margin:0px; padding-left:84px; text-indent:-84px; font-size:12pt" align=center>11</P>
<P style="margin:0px" align=justify><BR></P>
<P style="line-height:14pt; margin:0px; font-size:12pt" align=justify>NOTE 7 &#150; FAIR VALUE MEASUREMENTS (continued)</P>
<P style="margin:0px" align=justify><BR></P>
<P style="line-height:14pt; margin-top:0px; margin-bottom:-18.667px; padding-left:90.267px; text-indent:-90.267px; font-size:12pt" align=justify>Level II:</P>
<P style="line-height:14pt; margin:0px; padding-left:90.267px; font-size:12pt" align=justify>Inputs to the valuation methodology include quoted prices for similar assets or liabilities in active markets; quoted prices for identical or similar assets or liabilities in inactive markets; inputs other than quoted prices that are observable for the asset or liability; inputs that are derived principally from or corroborated by observable market data by correlation or other means. &nbsp;If the asset or liability has a specified (contractual) term, the Level II input must be observable for substantially the full term of the asset or liability.</P>
<P style="margin:0px" align=justify><BR></P>
<P style="line-height:14pt; margin-top:0px; margin-bottom:-18.667px; padding-left:84px; text-indent:-84px; font-size:12pt" align=justify>Level III:</P>
<P style="line-height:14pt; margin:0px; padding-left:84px; font-size:12pt" align=justify>Inputs to the valuation methodology are unobservable and significant to the fair value measurement.</P>
<P style="margin:0px" align=justify><BR></P>
<P style="margin:0px" align=justify><BR></P>
<P style="line-height:14pt; margin:0px; font-size:12pt" align=justify>The asset&#146;s or liability&#146;s fair value measurement level within the fair value hierarchy is based on the lowest level of any input that is significant to the fair value measurement. &nbsp;Valuation techniques used need to maximize the use of observable inputs and minimize the use of unobservable inputs.</P>
<P style="margin:0px" align=justify><BR></P>
<P style="line-height:14pt; margin:0px; font-size:12pt" align=justify>The following is a description of the valuation methodologies used for assets measured at fair value. There have been no changes in the methodologies used for the years ending December 31, 2013 and 2012. &nbsp;</P>
<P style="margin:0px" align=justify><BR></P>
<P style="line-height:14pt; margin:0px; font-size:12pt" align=justify><I>Common and preferred stocks</I>: Valued at the closing price reported on the active market on which the individual securities are traded. </P>
<P style="margin:0px" align=justify><BR></P>
<P style="line-height:14pt; margin:0px; font-size:12pt" align=justify><I>Mutual funds</I>: Valued at the daily closing price as reported by the fund. &nbsp;Mutual funds held by the Plan are open-end mutual funds that are registered with the Securities and Exchange Commission. &nbsp;These funds are required to publish their daily net asset value (NAV) and to transact at that price. &nbsp;The mutual funds held by the Plan are deemed to be actively traded.</P>
<P style="margin:0px" align=justify><BR></P>
<P style="line-height:normal; margin:0px; font-size:12pt" align=justify><I>Common/Collective Trusts</I>:<FONT style="font-size:10.5pt"> </FONT>Valued at the NAV of shares held by the plan at year end adjusted for any cash held for liquidity purposes and any fees imposed by the fund. The net asset value per unit is determined by dividing the net assets by the number of units outstanding on the day of valuation. In accordance with the terms of the Plan of Trust, the net asset value of the fund is determined daily. Units are issued and redeemed daily, at the daily net asset value. Also the net investment income and realized and unrealized gains on investments are not distributed. &nbsp;<FONT style="font-family:inherit">The fair value of the Federated Capital Preservation Fund, which primarily holds investments in fully benefit-responsive contracts, is calculated by the issuer using a discounted cash flow model, which considers (i) recent fee bids as determined by recognized dealers, (ii) discount rate, and (iii) the duration of the underlying portfolio securities. The fair value of the Plan&#146;s investment in the Federated Capital Preservation Fund is based on its proportionate ownership of the underlying investments. There are no imposed restrictions as to the redemption of these investments.</FONT></P>
<P style="margin:0px" align=justify><BR></P>
<P style="line-height:14pt; margin:0px; font-size:12pt" align=center>12</P>
<P style="margin:0px" align=justify><BR></P>
<P style="line-height:14pt; margin:0px; font-size:12pt" align=justify>NOTE 7 &#150; FAIR VALUE MEASUREMENTS (continued)</P>
<P style="margin:0px" align=justify><BR></P>
<P style="line-height:normal; margin:0px; font-size:12pt" align=justify><I>Money Market/Cash Equivalent</I>:<FONT style="font-size:10.5pt"> &nbsp;</FONT>These investments attempt to stabilize (NAV of its shares at $1.00) by valuing their portfolio securities using the amortized cost method. A market-based NAV per share is calculated on a periodic basis. &nbsp;The issuers do not guarantee that the NAV will always remain at $1.00 per share. &nbsp;Shares can be redeemed on a same day basis but only directly from the issuer. &nbsp;Such transactions do not constitute an active market.</P>
<P style="margin:0px" align=justify><BR></P>
<P style="line-height:14pt; margin:0px; font-size:12pt" align=justify><I>Variable Annuities</I>: &nbsp;Valuation based on the daily closing value of the sub accounts utilized in the individual annuity contract. &nbsp;Variable Annuities are registered products and are subject to Financial Industry Regulatory Authority (FINRA), SEC, and state regulations. &nbsp;</P>
<P style="margin:0px" align=justify><BR></P>
<P style="line-height:14pt; margin:0px; font-size:12pt" align=justify><I>Fixed/Index Annuities</I>: Valued based on method outlined in the annuity contract, as calculated by the annuity provider, based on observable inputs through the review of existing contracts and readily &nbsp;available financial information available on the websites of the issuing financial institutions. &nbsp;</P>
<P style="margin:0px" align=justify><BR></P>
<P style="line-height:14pt; margin:0px; font-size:12pt" align=justify>The methods described above may produce a fair value calculation that may not be indicative of net realizable value or reflective of future fair values. &nbsp;Furthermore, while the Plan believes its valuation methods are appropriate and consistent with other market participants, the use of different methodologies or assumptions to determine the fair value of certain financial instruments could result in a different fair value measurement at the reporting date. &nbsp;</P>
<P style="margin:0px" align=justify><BR></P>
<P style="line-height:14pt; margin:0px; font-size:12pt" align=justify>The following tables sets forth by level, within the fair value hierarchy, the Plan&#146;s assets at fair value as of December 31, 2013 and 2012:</P>
<P style="margin:0px" align=justify><BR></P>
<P style="line-height:14pt; margin:0px; font-size:12pt" align=center>13</P>
<P style="margin:0px" align=justify><BR>
<BR></P>
<P style="margin:0px"><BR></P>
<P style="margin:0px" align=justify><BR></P>
<P style="margin:0px; page-break-before:always" align=justify><BR></P>
<P style="margin:0px" align=justify><BR></P>
<P style="line-height:14pt; margin:0px; font-size:12pt" align=justify>NOTE 7 &#150; FAIR VALUE MEASUREMENTS (continued)</P>
<P style="margin:0px" align=justify><BR></P>
<TABLE style="font-size:10pt" cellspacing=0><TR style="font-size:0"><TD width=47></TD><TD width=107></TD><TD width=31.2></TD><TD width=14.8></TD><TD width=21.067></TD><TD width=71.4></TD><TD width=14.8></TD><TD width=21.067></TD><TD width=74.467></TD><TD width=14.8></TD><TD width=21.067></TD><TD width=71.267></TD><TD width=14.8></TD><TD width=21.067></TD><TD width=67.267></TD></TR>
<TR><TD valign=bottom width=221.067 colspan=5 rowspan=2><P>&nbsp;</P></TD><TD valign=top width=392 colspan=10><P style="margin:0px" align=center>December 31, 2013</P>
</TD></TR>
<TR><TD style="border-top:1px solid #000000; border-bottom:1px solid #000000" valign=bottom width=71.4><P style="margin:0px" align=center>Level I</P>
</TD><TD style="border-top:1px solid #000000" valign=top width=14.8><P>&nbsp;</P></TD><TD style="border-top:1px solid #000000" valign=bottom width=21.067><P>&nbsp;</P></TD><TD style="border-top:1px solid #000000; border-bottom:1px solid #000000" valign=bottom width=74.467><P style="margin:0px" align=center>Level II</P>
</TD><TD style="border-top:1px solid #000000" valign=top width=14.8><P>&nbsp;</P></TD><TD style="border-top:1px solid #000000" valign=bottom width=21.067><P>&nbsp;</P></TD><TD style="border-top:1px solid #000000; border-bottom:1px solid #000000" valign=bottom width=71.267><P style="margin:0px; padding-left:-3.933px; padding-right:-5.733px" align=center>Level III</P>
</TD><TD style="border-top:1px solid #000000" valign=top width=14.8><P>&nbsp;</P></TD><TD style="border-top:1px solid #000000" valign=bottom width=21.067><P>&nbsp;</P></TD><TD style="border-top:1px solid #000000; border-bottom:1px solid #000000" valign=bottom width=67.267><P style="margin:0px" align=center>Total</P>
</TD></TR>
<TR><TD valign=bottom width=221.067 colspan=5><P style="line-height:11.5pt; margin:0px; font-size:9.5pt">Assets:</P>
</TD><TD valign=bottom width=71.4><P>&nbsp;</P></TD><TD valign=top width=14.8><P>&nbsp;</P></TD><TD valign=bottom width=21.067><P>&nbsp;</P></TD><TD valign=bottom width=74.467><P>&nbsp;</P></TD><TD valign=top width=14.8><P>&nbsp;</P></TD><TD valign=bottom width=21.067><P>&nbsp;</P></TD><TD valign=bottom width=71.267><P>&nbsp;</P></TD><TD valign=top width=14.8><P>&nbsp;</P></TD><TD valign=bottom width=21.067><P>&nbsp;</P></TD><TD valign=bottom width=67.267><P>&nbsp;</P></TD></TR>
<TR><TD valign=bottom width=185.2 colspan=3><P style="line-height:11.5pt; margin:0px; font-size:9.5pt">Common/Collective Trust</P>
</TD><TD valign=top width=14.8><P>&nbsp;</P></TD><TD valign=bottom width=21.067><P style="line-height:11.5pt; margin:0px; font-size:9.5pt" align=right>&nbsp;$ </P>
</TD><TD valign=bottom width=71.4><P style="line-height:11.5pt; margin:0px; padding-right:-8.067px; font-size:9.5pt" align=center>-</P>
</TD><TD valign=top width=14.8><P>&nbsp;</P></TD><TD valign=bottom width=21.067><P style="line-height:11.5pt; margin:0px; font-size:9.5pt" align=right>&nbsp;$ </P>
</TD><TD valign=bottom width=74.467><P style="line-height:11.5pt; margin:0px; font-size:9.5pt" align=center>17,686,772</P>
</TD><TD valign=top width=14.8><P>&nbsp;</P></TD><TD valign=bottom width=21.067><P style="line-height:11.5pt; margin:0px; font-size:9.5pt" align=right>&nbsp;$ </P>
</TD><TD valign=bottom width=71.267><P style="line-height:11.5pt; margin:0px; padding-right:-8.067px; font-size:9.5pt" align=center>-</P>
</TD><TD valign=top width=14.8><P>&nbsp;</P></TD><TD valign=bottom width=21.067><P style="line-height:11.5pt; margin:0px; font-size:9.5pt" align=right>&nbsp;$ </P>
</TD><TD valign=bottom width=67.267><P style="line-height:11.5pt; margin:0px; padding-right:-4.8px; font-size:9.5pt" align=right>17,686,772</P>
</TD></TR>
<TR><TD valign=bottom width=47><P>&nbsp;</P></TD><TD valign=bottom width=107><P>&nbsp;</P></TD><TD valign=bottom width=31.2><P>&nbsp;</P></TD><TD valign=top width=14.8><P>&nbsp;</P></TD><TD valign=bottom width=21.067><P>&nbsp;</P></TD><TD valign=bottom width=71.4><P>&nbsp;</P></TD><TD valign=top width=14.8><P>&nbsp;</P></TD><TD valign=bottom width=21.067><P>&nbsp;</P></TD><TD valign=bottom width=74.467><P>&nbsp;</P></TD><TD valign=top width=14.8><P>&nbsp;</P></TD><TD valign=bottom width=21.067><P>&nbsp;</P></TD><TD valign=bottom width=71.267><P>&nbsp;</P></TD><TD valign=top width=14.8><P>&nbsp;</P></TD><TD valign=bottom width=21.067><P>&nbsp;</P></TD><TD valign=bottom width=67.267><P>&nbsp;</P></TD></TR>
<TR><TD valign=bottom width=154 colspan=2><P style="line-height:11.5pt; margin:0px; font-size:9.5pt">Mutual Funds:</P>
</TD><TD valign=bottom width=31.2><P>&nbsp;</P></TD><TD valign=top width=14.8><P>&nbsp;</P></TD><TD valign=bottom width=21.067><P>&nbsp;</P></TD><TD valign=bottom width=71.4><P style="line-height:11.5pt; margin:0px; padding-right:-8.067px; font-size:9.5pt" align=right>&nbsp;&nbsp;&nbsp;</P>
</TD><TD valign=top width=14.8><P>&nbsp;</P></TD><TD valign=bottom width=21.067><P>&nbsp;</P></TD><TD valign=bottom width=74.467><P style="line-height:11.5pt; margin:0px; font-size:9.5pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</P>
</TD><TD valign=top width=14.8><P>&nbsp;</P></TD><TD valign=bottom width=21.067><P>&nbsp;</P></TD><TD valign=bottom width=71.267><P>&nbsp;</P></TD><TD valign=top width=14.8><P>&nbsp;</P></TD><TD valign=bottom width=21.067><P>&nbsp;</P></TD><TD valign=bottom width=67.267><P>&nbsp;</P></TD></TR>
<TR><TD valign=bottom width=47><P>&nbsp;</P></TD><TD valign=bottom width=138.2 colspan=2><P style="line-height:11.5pt; margin:0px; font-size:9.5pt">Index Funds</P>
</TD><TD valign=top width=14.8><P>&nbsp;</P></TD><TD valign=bottom width=21.067><P>&nbsp;</P></TD><TD valign=bottom width=71.4><P style="line-height:11.5pt; margin:0px; padding-right:-8.067px; font-size:9.5pt" align=right>2,038,270</P>
</TD><TD valign=top width=14.8><P>&nbsp;</P></TD><TD valign=bottom width=21.067><P>&nbsp;</P></TD><TD valign=bottom width=74.467><P style="line-height:11.5pt; margin:0px; font-size:9.5pt" align=center>-</P>
</TD><TD valign=top width=14.8><P>&nbsp;</P></TD><TD valign=bottom width=21.067><P>&nbsp;</P></TD><TD valign=bottom width=71.267><P style="line-height:11.5pt; margin:0px; padding-right:-8.067px; font-size:9.5pt" align=center>-</P>
</TD><TD valign=top width=14.8><P>&nbsp;</P></TD><TD valign=bottom width=21.067><P style="line-height:11.5pt; margin:0px; font-size:9.5pt" align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</P>
</TD><TD valign=bottom width=67.267><P style="line-height:11.5pt; margin:0px; padding-right:-8.067px; font-size:9.5pt" align=right>2,038,270</P>
</TD></TR>
<TR><TD valign=bottom width=47><P>&nbsp;</P></TD><TD valign=bottom width=138.2 colspan=2><P style="line-height:11.5pt; margin:0px; font-size:9.5pt">Balanced Funds</P>
</TD><TD valign=top width=14.8><P>&nbsp;</P></TD><TD valign=bottom width=21.067><P style="line-height:11.5pt; margin:0px; font-size:9.5pt" align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</P>
</TD><TD valign=bottom width=71.4><P style="line-height:11.5pt; margin:0px; padding-right:-8.067px; font-size:9.5pt" align=right>1,411,539</P>
</TD><TD valign=top width=14.8><P>&nbsp;</P></TD><TD valign=bottom width=21.067><P>&nbsp;</P></TD><TD valign=bottom width=74.467><P style="line-height:11.5pt; margin:0px; font-size:9.5pt" align=center>-</P>
</TD><TD valign=top width=14.8><P>&nbsp;</P></TD><TD valign=bottom width=21.067><P>&nbsp;</P></TD><TD valign=bottom width=71.267><P style="line-height:11.5pt; margin:0px; padding-right:-8.067px; font-size:9.5pt" align=center>-</P>
</TD><TD valign=top width=14.8><P>&nbsp;</P></TD><TD valign=bottom width=21.067><P>&nbsp;</P></TD><TD valign=bottom width=67.267><P style="line-height:11.5pt; margin:0px; padding-right:-8.067px; font-size:9.5pt" align=right>1,411,539</P>
</TD></TR>
<TR><TD valign=bottom width=47><P>&nbsp;</P></TD><TD valign=bottom width=138.2 colspan=2><P style="line-height:11.5pt; margin:0px; font-size:9.5pt">Growth Funds</P>
</TD><TD valign=top width=14.8><P>&nbsp;</P></TD><TD valign=bottom width=21.067><P style="line-height:11.5pt; margin:0px; font-size:9.5pt" align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</P>
</TD><TD valign=bottom width=71.4><P style="line-height:11.5pt; margin:0px; padding-right:-8.067px; font-size:9.5pt" align=right>3,919,114</P>
</TD><TD valign=top width=14.8><P>&nbsp;</P></TD><TD valign=bottom width=21.067><P>&nbsp;</P></TD><TD valign=bottom width=74.467><P style="line-height:11.5pt; margin:0px; font-size:9.5pt" align=center>-</P>
</TD><TD valign=top width=14.8><P>&nbsp;</P></TD><TD valign=bottom width=21.067><P>&nbsp;</P></TD><TD valign=bottom width=71.267><P style="line-height:11.5pt; margin:0px; padding-right:-8.067px; font-size:9.5pt" align=center>-</P>
</TD><TD valign=top width=14.8><P>&nbsp;</P></TD><TD valign=bottom width=21.067><P>&nbsp;</P></TD><TD valign=bottom width=67.267><P style="line-height:11.5pt; margin:0px; padding-right:-8.067px; font-size:9.5pt" align=right>3,919,114</P>
</TD></TR>
<TR><TD valign=bottom width=47><P>&nbsp;</P></TD><TD valign=bottom width=138.2 colspan=2><P style="line-height:11.5pt; margin:0px; font-size:9.5pt">Target Date Funds</P>
</TD><TD valign=top width=14.8><P>&nbsp;</P></TD><TD valign=bottom width=21.067><P>&nbsp;</P></TD><TD valign=bottom width=71.4><P style="line-height:11.5pt; margin:0px; padding-right:-8.067px; font-size:9.5pt" align=right>95,310</P>
</TD><TD valign=top width=14.8><P>&nbsp;</P></TD><TD valign=bottom width=21.067><P>&nbsp;</P></TD><TD valign=bottom width=74.467><P>&nbsp;</P></TD><TD valign=top width=14.8><P>&nbsp;</P></TD><TD valign=bottom width=21.067><P>&nbsp;</P></TD><TD valign=bottom width=71.267><P>&nbsp;</P></TD><TD valign=top width=14.8><P>&nbsp;</P></TD><TD valign=bottom width=21.067><P>&nbsp;</P></TD><TD valign=bottom width=67.267><P style="line-height:11.5pt; margin:0px; padding-right:-8.067px; font-size:9.5pt" align=right>95,310</P>
</TD></TR>
<TR><TD valign=bottom width=47><P>&nbsp;</P></TD><TD valign=bottom width=138.2 colspan=2><P style="line-height:11.5pt; margin:0px; font-size:9.5pt">Fixed Income Funds</P>
</TD><TD valign=top width=14.8><P>&nbsp;</P></TD><TD valign=bottom width=21.067><P>&nbsp;</P></TD><TD valign=bottom width=71.4><P style="line-height:11.5pt; margin:0px; padding-right:-8.067px; font-size:9.5pt" align=right>1,081,798</P>
</TD><TD valign=top width=14.8><P>&nbsp;</P></TD><TD valign=bottom width=21.067><P>&nbsp;</P></TD><TD valign=bottom width=74.467><P style="line-height:11.5pt; margin:0px; font-size:9.5pt" align=center>-</P>
</TD><TD valign=top width=14.8><P>&nbsp;</P></TD><TD valign=bottom width=21.067><P>&nbsp;</P></TD><TD valign=bottom width=71.267><P style="line-height:11.5pt; margin:0px; padding-right:-8.067px; font-size:9.5pt" align=center>-</P>
</TD><TD valign=top width=14.8><P>&nbsp;</P></TD><TD valign=bottom width=21.067><P>&nbsp;</P></TD><TD valign=bottom width=67.267><P style="line-height:11.5pt; margin:0px; padding-right:-8.067px; font-size:9.5pt" align=right>1,081,798</P>
</TD></TR>
<TR><TD valign=bottom width=47><P>&nbsp;</P></TD><TD valign=bottom width=138.2 colspan=2><P style="line-height:11.5pt; margin:0px; font-size:9.5pt">Other Funds</P>
</TD><TD valign=top width=14.8><P>&nbsp;</P></TD><TD style="border-bottom:1px solid #000000" valign=bottom width=21.067><P>&nbsp;</P></TD><TD style="border-bottom:1px solid #000000" valign=bottom width=71.4><P style="line-height:11.5pt; margin:0px; padding-right:-8.067px; font-size:9.5pt" align=right>3,494</P>
</TD><TD valign=top width=14.8><P>&nbsp;</P></TD><TD style="border-bottom:1px solid #000000" valign=bottom width=21.067><P>&nbsp;</P></TD><TD style="border-bottom:1px solid #000000" valign=bottom width=74.467><P style="line-height:11.5pt; margin:0px; font-size:9.5pt" align=center>-</P>
</TD><TD valign=top width=14.8><P>&nbsp;</P></TD><TD style="border-bottom:1px solid #000000" valign=bottom width=21.067><P>&nbsp;</P></TD><TD style="border-bottom:1px solid #000000" valign=bottom width=71.267><P style="line-height:11.5pt; margin:0px; padding-right:-8.067px; font-size:9.5pt" align=center>-</P>
</TD><TD valign=top width=14.8><P>&nbsp;</P></TD><TD style="border-bottom:1px solid #000000" valign=bottom width=21.067><P>&nbsp;</P></TD><TD style="border-bottom:1px solid #000000" valign=bottom width=67.267><P style="line-height:11.5pt; margin:0px; padding-right:-8.067px; font-size:9.5pt" align=right>3,494</P>
</TD></TR>
<TR><TD valign=bottom width=47><P>&nbsp;</P></TD><TD valign=bottom width=138.2 colspan=2><P style="line-height:11.5pt; margin:0px; font-size:9.5pt">Total Mutual Funds</P>
</TD><TD valign=top width=14.8><P>&nbsp;</P></TD><TD style="border-bottom:1px solid #000000" valign=bottom width=21.067><P>&nbsp;</P></TD><TD style="border-bottom:1px solid #000000" valign=bottom width=71.4><P style="line-height:11.5pt; margin:0px; padding-right:-8.067px; font-size:9.5pt" align=right>8,549,525</P>
</TD><TD valign=top width=14.8><P>&nbsp;</P></TD><TD style="border-bottom:1px solid #000000" valign=bottom width=21.067><P>&nbsp;</P></TD><TD style="border-bottom:1px solid #000000" valign=bottom width=74.467><P style="line-height:11.5pt; margin:0px; font-size:9.5pt" align=center>-</P>
</TD><TD valign=top width=14.8><P>&nbsp;</P></TD><TD style="border-bottom:1px solid #000000" valign=bottom width=21.067><P>&nbsp;</P></TD><TD style="border-bottom:1px solid #000000" valign=bottom width=71.267><P style="line-height:11.5pt; margin:0px; padding-right:-8.067px; font-size:9.5pt" align=center>-</P>
</TD><TD valign=top width=14.8><P>&nbsp;</P></TD><TD style="border-bottom:1px solid #000000" valign=bottom width=21.067><P>&nbsp;</P></TD><TD style="border-bottom:1px solid #000000" valign=bottom width=67.267><P style="line-height:11.5pt; margin:0px; padding-right:-8.067px; font-size:9.5pt" align=right>8,549,525</P>
</TD></TR>
<TR><TD valign=bottom width=47><P>&nbsp;</P></TD><TD valign=bottom width=138.2 colspan=2><P>&nbsp;</P></TD><TD valign=top width=14.8><P>&nbsp;</P></TD><TD valign=bottom width=21.067><P>&nbsp;</P></TD><TD valign=bottom width=71.4><P>&nbsp;</P></TD><TD valign=top width=14.8><P>&nbsp;</P></TD><TD valign=bottom width=21.067><P>&nbsp;</P></TD><TD valign=bottom width=74.467><P>&nbsp;</P></TD><TD valign=top width=14.8><P>&nbsp;</P></TD><TD valign=bottom width=21.067><P>&nbsp;</P></TD><TD valign=bottom width=71.267><P>&nbsp;</P></TD><TD valign=top width=14.8><P>&nbsp;</P></TD><TD valign=bottom width=21.067><P>&nbsp;</P></TD><TD valign=bottom width=67.267><P>&nbsp;</P></TD></TR>
<TR><TD valign=bottom width=154 colspan=2><P style="line-height:11.5pt; margin:0px; font-size:9.5pt">Common Stock</P>
</TD><TD valign=bottom width=31.2><P>&nbsp;</P></TD><TD valign=top width=14.8><P>&nbsp;</P></TD><TD valign=bottom width=21.067><P>&nbsp;</P></TD><TD valign=bottom width=71.4><P>&nbsp;</P></TD><TD valign=top width=14.8><P>&nbsp;</P></TD><TD valign=bottom width=21.067><P>&nbsp;</P></TD><TD valign=bottom width=74.467><P>&nbsp;</P></TD><TD valign=top width=14.8><P>&nbsp;</P></TD><TD valign=bottom width=21.067><P>&nbsp;</P></TD><TD valign=bottom width=71.267><P>&nbsp;</P></TD><TD valign=top width=14.8><P>&nbsp;</P></TD><TD valign=bottom width=21.067><P>&nbsp;</P></TD><TD valign=bottom width=67.267><P>&nbsp;</P></TD></TR>
<TR><TD valign=bottom width=47><P>&nbsp;</P></TD><TD valign=bottom width=138.2 colspan=2><P style="line-height:11.5pt; margin:0px; font-size:9.5pt">Financial Institution</P>
</TD><TD valign=top width=14.8><P>&nbsp;</P></TD><TD valign=bottom width=21.067><P>&nbsp;</P></TD><TD valign=bottom width=71.4><P style="line-height:11.5pt; margin:0px; padding-right:-8.067px; font-size:9.5pt" align=right>337,584</P>
</TD><TD valign=top width=14.8><P>&nbsp;</P></TD><TD valign=bottom width=21.067><P>&nbsp;</P></TD><TD valign=bottom width=74.467><P style="line-height:11.5pt; margin:0px; font-size:9.5pt" align=center>-</P>
</TD><TD valign=top width=14.8><P>&nbsp;</P></TD><TD valign=bottom width=21.067><P>&nbsp;</P></TD><TD valign=bottom width=71.267><P style="line-height:11.5pt; margin:0px; padding-right:-8.067px; font-size:9.5pt" align=center>-</P>
</TD><TD valign=top width=14.8><P>&nbsp;</P></TD><TD valign=bottom width=21.067><P>&nbsp;</P></TD><TD valign=bottom width=67.267><P style="line-height:11.5pt; margin:0px; padding-right:-8.067px; font-size:9.5pt" align=right>337,584</P>
</TD></TR>
<TR><TD valign=bottom width=185.2 colspan=3><P style="line-height:11.5pt; margin:0px; font-size:9.5pt">Preferred Stock</P>
</TD><TD valign=top width=14.8><P>&nbsp;</P></TD><TD valign=bottom width=21.067><P>&nbsp;</P></TD><TD valign=bottom width=71.4><P>&nbsp;</P></TD><TD valign=top width=14.8><P>&nbsp;</P></TD><TD valign=bottom width=21.067><P>&nbsp;</P></TD><TD valign=bottom width=74.467><P>&nbsp;</P></TD><TD valign=top width=14.8><P>&nbsp;</P></TD><TD valign=bottom width=21.067><P>&nbsp;</P></TD><TD valign=bottom width=71.267><P>&nbsp;</P></TD><TD valign=top width=14.8><P>&nbsp;</P></TD><TD valign=bottom width=21.067><P>&nbsp;</P></TD><TD valign=bottom width=67.267><P>&nbsp;</P></TD></TR>
<TR><TD valign=bottom width=47><P>&nbsp;</P></TD><TD valign=bottom width=138.2 colspan=2><P style="line-height:11.5pt; margin:0px; font-size:9.5pt">Financial Institution</P>
</TD><TD valign=top width=14.8><P>&nbsp;</P></TD><TD valign=bottom width=21.067><P>&nbsp;</P></TD><TD valign=bottom width=71.4><P style="line-height:11.5pt; margin:0px; padding-right:-8.067px; font-size:9.5pt" align=right>463,955</P>
</TD><TD valign=top width=14.8><P>&nbsp;</P></TD><TD valign=bottom width=21.067><P>&nbsp;</P></TD><TD valign=bottom width=74.467><P style="line-height:11.5pt; margin:0px; font-size:9.5pt" align=center>-</P>
</TD><TD valign=top width=14.8><P>&nbsp;</P></TD><TD valign=bottom width=21.067><P>&nbsp;</P></TD><TD valign=bottom width=71.267><P style="line-height:11.5pt; margin:0px; padding-right:-8.067px; font-size:9.5pt" align=center>-</P>
</TD><TD valign=top width=14.8><P>&nbsp;</P></TD><TD valign=bottom width=21.067><P>&nbsp;</P></TD><TD valign=bottom width=67.267><P style="line-height:11.5pt; margin:0px; padding-right:-8.067px; font-size:9.5pt" align=right>463,955</P>
</TD></TR>
<TR><TD valign=bottom width=185.2 colspan=3><P style="line-height:11.5pt; margin:0px; font-size:9.5pt">Money Market Funds/Cash Equivalent</P>
</TD><TD valign=top width=14.8><P>&nbsp;</P></TD><TD valign=bottom width=21.067><P>&nbsp;</P></TD><TD valign=bottom width=71.4><P>&nbsp;</P></TD><TD valign=top width=14.8><P>&nbsp;</P></TD><TD valign=bottom width=21.067><P>&nbsp;</P></TD><TD valign=bottom width=74.467><P style="line-height:11.5pt; margin:0px; font-size:9.5pt" align=right>&nbsp;1,858,560</P>
</TD><TD valign=top width=14.8><P>&nbsp;</P></TD><TD valign=bottom width=21.067><P>&nbsp;</P></TD><TD valign=bottom width=71.267><P style="line-height:11.5pt; margin:0px; padding-right:-8.067px; font-size:9.5pt" align=center>-</P>
</TD><TD valign=top width=14.8><P>&nbsp;</P></TD><TD valign=bottom width=21.067><P>&nbsp;</P></TD><TD valign=bottom width=67.267><P style="line-height:11.5pt; margin:0px; padding-right:-8.067px; font-size:9.5pt" align=right>1,858,560</P>
</TD></TR>
<TR><TD valign=bottom width=185.2 colspan=3><P style="line-height:11.5pt; margin:0px; font-size:9.5pt">Annuities</P>
</TD><TD valign=top width=14.8><P>&nbsp;</P></TD><TD style="border-bottom:1px solid #000000" valign=bottom width=21.067><P>&nbsp;</P></TD><TD valign=bottom width=71.4><P style="line-height:11.5pt; margin:0px; padding-right:-8.067px; font-size:9.5pt" align=center>-</P>
</TD><TD valign=top width=14.8><P>&nbsp;</P></TD><TD style="border-bottom:1px solid #000000" valign=bottom width=21.067><P>&nbsp;</P></TD><TD valign=bottom width=74.467><P style="line-height:11.5pt; margin:0px; font-size:9.5pt" align=right>918,318</P>
</TD><TD valign=top width=14.8><P>&nbsp;</P></TD><TD style="border-bottom:1px solid #000000" valign=bottom width=21.067><P>&nbsp;</P></TD><TD valign=bottom width=71.267><P style="line-height:11.5pt; margin:0px; padding-right:-8.067px; font-size:9.5pt" align=center>-</P>
</TD><TD valign=top width=14.8><P>&nbsp;</P></TD><TD style="border-bottom:1px solid #000000" valign=bottom width=21.067><P>&nbsp;</P></TD><TD valign=bottom width=67.267><P style="line-height:11.5pt; margin:0px; padding-right:-8.067px; font-size:9.5pt" align=right>918,318</P>
</TD></TR>
<TR><TD valign=bottom width=47><P>&nbsp;</P></TD><TD valign=bottom width=107><P>&nbsp;</P></TD><TD valign=bottom width=31.2><P>&nbsp;</P></TD><TD valign=top width=14.8><P>&nbsp;</P></TD><TD valign=bottom width=21.067><P>&nbsp;</P></TD><TD style="border-top:1px solid #000000" valign=bottom width=71.4><P>&nbsp;</P></TD><TD valign=top width=14.8><P>&nbsp;</P></TD><TD valign=bottom width=21.067><P>&nbsp;</P></TD><TD style="border-top:1px solid #000000" valign=bottom width=74.467><P>&nbsp;</P></TD><TD valign=top width=14.8><P>&nbsp;</P></TD><TD valign=bottom width=21.067><P>&nbsp;</P></TD><TD style="border-top:1px solid #000000" valign=bottom width=71.267><P>&nbsp;</P></TD><TD valign=top width=14.8><P>&nbsp;</P></TD><TD valign=bottom width=21.067><P>&nbsp;</P></TD><TD style="border-top:1px solid #000000" valign=bottom width=67.267><P>&nbsp;</P></TD></TR>
<TR><TD valign=bottom width=185.2 colspan=3><P style="line-height:11.5pt; margin:0px; font-size:9.5pt">Total assets, at fair value</P>
</TD><TD valign=top width=14.8><P>&nbsp;</P></TD><TD style="border-bottom:3px double #000000" valign=bottom width=21.067><P style="line-height:11.5pt; margin:0px; font-size:9.5pt" align=right>$</P>
</TD><TD style="border-bottom:3px double #000000" valign=bottom width=71.4><P style="line-height:11.5pt; margin:0px; font-size:9.5pt" align=justify>9,351,064</P>
</TD><TD valign=top width=14.8><P>&nbsp;</P></TD><TD style="border-bottom:3px double #000000" valign=bottom width=21.067><P style="line-height:11.5pt; margin:0px; font-size:9.5pt" align=right>&nbsp;$ </P>
</TD><TD style="border-bottom:3px double #000000" valign=bottom width=74.467><P style="line-height:11.5pt; margin:0px; font-size:9.5pt" align=right>20,463,650</P>
</TD><TD valign=top width=14.8><P>&nbsp;</P></TD><TD style="border-bottom:3px double #000000" valign=bottom width=21.067><P style="line-height:11.5pt; margin:0px; font-size:9.5pt" align=right>&nbsp;$ </P>
</TD><TD style="border-bottom:3px double #000000" valign=bottom width=71.267><P style="line-height:11.5pt; margin:0px; padding-left:48px; padding-right:-8.067px; text-indent:-24px; font-size:9.5pt" align=center>- </P>
</TD><TD valign=top width=14.8><P>&nbsp;</P></TD><TD style="border-bottom:3px double #000000" valign=bottom width=21.067><P style="line-height:11.5pt; margin:0px; font-size:9.5pt" align=right>&nbsp;$ </P>
</TD><TD style="border-bottom:3px double #000000" valign=bottom width=67.267><P style="line-height:11.5pt; margin:0px; padding-right:-4.8px; font-size:9.5pt" align=right>29,814,714</P>
</TD></TR>
</TABLE>
<P style="line-height:14pt; margin:0px; font-size:12pt" align=justify>&nbsp;</P>
<TABLE style="font-size:10pt" cellspacing=0><TR style="font-size:0"><TD width=47></TD><TD width=107></TD><TD width=31.2></TD><TD width=14.8></TD><TD width=21.067></TD><TD width=59.667></TD><TD width=14.8></TD><TD width=21.067></TD><TD width=74.467></TD><TD width=14.8></TD><TD width=21.067></TD><TD width=71.267></TD><TD width=14.8></TD><TD width=21.067></TD><TD width=79></TD></TR>
<TR><TD valign=bottom width=221.067 colspan=5 rowspan=2><P>&nbsp;</P></TD><TD valign=top width=392 colspan=10><P style="margin:0px" align=center>December 31, 2012</P>
</TD></TR>
<TR><TD style="border-top:1px solid #000000; border-bottom:1px solid #000000" valign=bottom width=59.667><P style="margin:0px" align=center>Level I</P>
</TD><TD style="border-top:1px solid #000000" valign=top width=14.8><P>&nbsp;</P></TD><TD style="border-top:1px solid #000000" valign=bottom width=21.067><P>&nbsp;</P></TD><TD style="border-top:1px solid #000000; border-bottom:1px solid #000000" valign=bottom width=74.467><P style="margin:0px" align=center>Level II</P>
</TD><TD style="border-top:1px solid #000000" valign=top width=14.8><P>&nbsp;</P></TD><TD style="border-top:1px solid #000000" valign=bottom width=21.067><P>&nbsp;</P></TD><TD style="border-top:1px solid #000000; border-bottom:1px solid #000000" valign=bottom width=71.267><P style="margin:0px; padding-left:-3.933px; padding-right:-5.733px" align=center>Level III</P>
</TD><TD style="border-top:1px solid #000000" valign=top width=14.8><P>&nbsp;</P></TD><TD style="border-top:1px solid #000000" valign=bottom width=21.067><P>&nbsp;</P></TD><TD style="border-top:1px solid #000000; border-bottom:1px solid #000000" valign=bottom width=79><P style="margin:0px" align=center>Total</P>
</TD></TR>
<TR><TD valign=bottom width=221.067 colspan=5><P style="line-height:11.5pt; margin:0px; font-size:9.5pt">Assets:</P>
</TD><TD valign=bottom width=59.667><P>&nbsp;</P></TD><TD valign=top width=14.8><P>&nbsp;</P></TD><TD valign=bottom width=21.067><P>&nbsp;</P></TD><TD valign=bottom width=74.467><P>&nbsp;</P></TD><TD valign=top width=14.8><P>&nbsp;</P></TD><TD valign=bottom width=21.067><P>&nbsp;</P></TD><TD valign=bottom width=71.267><P>&nbsp;</P></TD><TD valign=top width=14.8><P>&nbsp;</P></TD><TD valign=bottom width=21.067><P>&nbsp;</P></TD><TD valign=bottom width=79><P>&nbsp;</P></TD></TR>
<TR><TD valign=bottom width=185.2 colspan=3><P style="line-height:11.5pt; margin:0px; font-size:9.5pt">Common/Collective Trust</P>
</TD><TD valign=top width=14.8><P>&nbsp;</P></TD><TD valign=bottom width=21.067><P style="line-height:11.5pt; margin:0px; font-size:9.5pt" align=right>&nbsp;$ </P>
</TD><TD valign=bottom width=59.667><P style="line-height:11.5pt; margin:0px; padding-right:-8.067px; font-size:9.5pt" align=center>-</P>
</TD><TD valign=top width=14.8><P>&nbsp;</P></TD><TD valign=bottom width=21.067><P style="line-height:11.5pt; margin:0px; font-size:9.5pt" align=right>&nbsp;$ </P>
</TD><TD valign=bottom width=74.467><P style="line-height:11.5pt; margin:0px; font-size:9.5pt" align=center>14,920,180</P>
</TD><TD valign=top width=14.8><P>&nbsp;</P></TD><TD valign=bottom width=21.067><P style="line-height:11.5pt; margin:0px; font-size:9.5pt" align=right>&nbsp;$ </P>
</TD><TD valign=bottom width=71.267><P style="line-height:11.5pt; margin:0px; padding-right:-8.067px; font-size:9.5pt" align=center>-</P>
</TD><TD valign=top width=14.8><P>&nbsp;</P></TD><TD valign=bottom width=21.067><P style="line-height:11.5pt; margin:0px; font-size:9.5pt" align=right>&nbsp;$ </P>
</TD><TD valign=bottom width=79><P style="line-height:11.5pt; margin:0px; padding-right:-4.8px; font-size:9.5pt" align=right>14,920,180</P>
</TD></TR>
<TR><TD valign=bottom width=47><P>&nbsp;</P></TD><TD valign=bottom width=107><P>&nbsp;</P></TD><TD valign=bottom width=31.2><P>&nbsp;</P></TD><TD valign=top width=14.8><P>&nbsp;</P></TD><TD valign=bottom width=21.067><P>&nbsp;</P></TD><TD valign=bottom width=59.667><P>&nbsp;</P></TD><TD valign=top width=14.8><P>&nbsp;</P></TD><TD valign=bottom width=21.067><P>&nbsp;</P></TD><TD valign=bottom width=74.467><P>&nbsp;</P></TD><TD valign=top width=14.8><P>&nbsp;</P></TD><TD valign=bottom width=21.067><P>&nbsp;</P></TD><TD valign=bottom width=71.267><P>&nbsp;</P></TD><TD valign=top width=14.8><P>&nbsp;</P></TD><TD valign=bottom width=21.067><P>&nbsp;</P></TD><TD valign=bottom width=79><P>&nbsp;</P></TD></TR>
<TR><TD valign=bottom width=154 colspan=2><P style="line-height:11.5pt; margin:0px; font-size:9.5pt">Mutual Funds:</P>
</TD><TD valign=bottom width=31.2><P>&nbsp;</P></TD><TD valign=top width=14.8><P>&nbsp;</P></TD><TD valign=bottom width=21.067><P>&nbsp;</P></TD><TD valign=bottom width=59.667><P style="line-height:11.5pt; margin:0px; padding-right:-8.067px; font-size:9.5pt" align=right>&nbsp;&nbsp;&nbsp;</P>
</TD><TD valign=top width=14.8><P>&nbsp;</P></TD><TD valign=bottom width=21.067><P>&nbsp;</P></TD><TD valign=bottom width=74.467><P style="line-height:11.5pt; margin:0px; font-size:9.5pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</P>
</TD><TD valign=top width=14.8><P>&nbsp;</P></TD><TD valign=bottom width=21.067><P>&nbsp;</P></TD><TD valign=bottom width=71.267><P>&nbsp;</P></TD><TD valign=top width=14.8><P>&nbsp;</P></TD><TD valign=bottom width=21.067><P>&nbsp;</P></TD><TD valign=bottom width=79><P>&nbsp;</P></TD></TR>
<TR><TD valign=bottom width=47><P>&nbsp;</P></TD><TD valign=bottom width=138.2 colspan=2><P style="line-height:11.5pt; margin:0px; font-size:9.5pt">Index Funds</P>
</TD><TD valign=top width=14.8><P>&nbsp;</P></TD><TD valign=bottom width=21.067><P>&nbsp;</P></TD><TD valign=bottom width=59.667><P style="line-height:11.5pt; margin:0px; padding-right:-8.067px; font-size:9.5pt" align=right>1,696,574</P>
</TD><TD valign=top width=14.8><P>&nbsp;</P></TD><TD valign=bottom width=21.067><P>&nbsp;</P></TD><TD valign=bottom width=74.467><P style="line-height:11.5pt; margin:0px; font-size:9.5pt" align=center>-</P>
</TD><TD valign=top width=14.8><P>&nbsp;</P></TD><TD valign=bottom width=21.067><P>&nbsp;</P></TD><TD valign=bottom width=71.267><P style="line-height:11.5pt; margin:0px; padding-right:-8.067px; font-size:9.5pt" align=center>-</P>
</TD><TD valign=top width=14.8><P>&nbsp;</P></TD><TD valign=bottom width=21.067><P style="line-height:11.5pt; margin:0px; font-size:9.5pt" align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</P>
</TD><TD valign=bottom width=79><P style="line-height:11.5pt; margin:0px; padding-right:-8.067px; font-size:9.5pt" align=right>1,696,574</P>
</TD></TR>
<TR><TD valign=bottom width=47><P>&nbsp;</P></TD><TD valign=bottom width=138.2 colspan=2><P style="line-height:11.5pt; margin:0px; font-size:9.5pt">Balanced Funds</P>
</TD><TD valign=top width=14.8><P>&nbsp;</P></TD><TD valign=bottom width=21.067><P style="line-height:11.5pt; margin:0px; font-size:9.5pt" align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</P>
</TD><TD valign=bottom width=59.667><P style="line-height:11.5pt; margin:0px; padding-right:-8.067px; font-size:9.5pt" align=right>1,053,502</P>
</TD><TD valign=top width=14.8><P>&nbsp;</P></TD><TD valign=bottom width=21.067><P>&nbsp;</P></TD><TD valign=bottom width=74.467><P style="line-height:11.5pt; margin:0px; font-size:9.5pt" align=center>-</P>
</TD><TD valign=top width=14.8><P>&nbsp;</P></TD><TD valign=bottom width=21.067><P>&nbsp;</P></TD><TD valign=bottom width=71.267><P style="line-height:11.5pt; margin:0px; padding-right:-8.067px; font-size:9.5pt" align=center>-</P>
</TD><TD valign=top width=14.8><P>&nbsp;</P></TD><TD valign=bottom width=21.067><P>&nbsp;</P></TD><TD valign=bottom width=79><P style="line-height:11.5pt; margin:0px; padding-right:-8.067px; font-size:9.5pt" align=right>1,053,502</P>
</TD></TR>
<TR><TD valign=bottom width=47><P>&nbsp;</P></TD><TD valign=bottom width=138.2 colspan=2><P style="line-height:11.5pt; margin:0px; font-size:9.5pt">Growth Funds</P>
</TD><TD valign=top width=14.8><P>&nbsp;</P></TD><TD valign=bottom width=21.067><P style="line-height:11.5pt; margin:0px; font-size:9.5pt" align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</P>
</TD><TD valign=bottom width=59.667><P style="line-height:11.5pt; margin:0px; padding-right:-8.067px; font-size:9.5pt" align=right>2,387,161</P>
</TD><TD valign=top width=14.8><P>&nbsp;</P></TD><TD valign=bottom width=21.067><P>&nbsp;</P></TD><TD valign=bottom width=74.467><P style="line-height:11.5pt; margin:0px; font-size:9.5pt" align=center>-</P>
</TD><TD valign=top width=14.8><P>&nbsp;</P></TD><TD valign=bottom width=21.067><P>&nbsp;</P></TD><TD valign=bottom width=71.267><P style="line-height:11.5pt; margin:0px; padding-right:-8.067px; font-size:9.5pt" align=center>-</P>
</TD><TD valign=top width=14.8><P>&nbsp;</P></TD><TD valign=bottom width=21.067><P>&nbsp;</P></TD><TD valign=bottom width=79><P style="line-height:11.5pt; margin:0px; padding-right:-8.067px; font-size:9.5pt" align=right>2,387,161</P>
</TD></TR>
<TR><TD valign=bottom width=47><P>&nbsp;</P></TD><TD valign=bottom width=138.2 colspan=2><P style="line-height:11.5pt; margin:0px; font-size:9.5pt">Target Date Funds</P>
</TD><TD valign=top width=14.8><P>&nbsp;</P></TD><TD valign=bottom width=21.067><P>&nbsp;</P></TD><TD valign=bottom width=59.667><P style="line-height:11.5pt; margin:0px; padding-right:-8.067px; font-size:9.5pt" align=right>69,530</P>
</TD><TD valign=top width=14.8><P>&nbsp;</P></TD><TD valign=bottom width=21.067><P>&nbsp;</P></TD><TD valign=bottom width=74.467><P>&nbsp;</P></TD><TD valign=top width=14.8><P>&nbsp;</P></TD><TD valign=bottom width=21.067><P>&nbsp;</P></TD><TD valign=bottom width=71.267><P>&nbsp;</P></TD><TD valign=top width=14.8><P>&nbsp;</P></TD><TD valign=bottom width=21.067><P>&nbsp;</P></TD><TD valign=bottom width=79><P style="line-height:11.5pt; margin:0px; padding-right:-8.067px; font-size:9.5pt" align=right>69,530</P>
</TD></TR>
<TR><TD valign=bottom width=47><P>&nbsp;</P></TD><TD valign=bottom width=138.2 colspan=2><P style="line-height:11.5pt; margin:0px; font-size:9.5pt">Fixed Income Funds</P>
</TD><TD valign=top width=14.8><P>&nbsp;</P></TD><TD valign=bottom width=21.067><P>&nbsp;</P></TD><TD valign=bottom width=59.667><P style="line-height:11.5pt; margin:0px; padding-right:-8.067px; font-size:9.5pt" align=right>1,151,451</P>
</TD><TD valign=top width=14.8><P>&nbsp;</P></TD><TD valign=bottom width=21.067><P>&nbsp;</P></TD><TD valign=bottom width=74.467><P style="line-height:11.5pt; margin:0px; font-size:9.5pt" align=center>-</P>
</TD><TD valign=top width=14.8><P>&nbsp;</P></TD><TD valign=bottom width=21.067><P>&nbsp;</P></TD><TD valign=bottom width=71.267><P style="line-height:11.5pt; margin:0px; padding-right:-8.067px; font-size:9.5pt" align=center>-</P>
</TD><TD valign=top width=14.8><P>&nbsp;</P></TD><TD valign=bottom width=21.067><P>&nbsp;</P></TD><TD valign=bottom width=79><P style="line-height:11.5pt; margin:0px; padding-right:-8.067px; font-size:9.5pt" align=right>1,151,451</P>
</TD></TR>
<TR><TD valign=bottom width=47><P>&nbsp;</P></TD><TD valign=bottom width=138.2 colspan=2><P style="line-height:11.5pt; margin:0px; font-size:9.5pt">Other Funds</P>
</TD><TD valign=top width=14.8><P>&nbsp;</P></TD><TD style="border-bottom:1px solid #000000" valign=bottom width=21.067><P>&nbsp;</P></TD><TD style="border-bottom:1px solid #000000" valign=bottom width=59.667><P style="line-height:11.5pt; margin:0px; padding-right:-8.067px; font-size:9.5pt" align=right>333,576</P>
</TD><TD valign=top width=14.8><P>&nbsp;</P></TD><TD style="border-bottom:1px solid #000000" valign=bottom width=21.067><P>&nbsp;</P></TD><TD style="border-bottom:1px solid #000000" valign=bottom width=74.467><P style="line-height:11.5pt; margin:0px; font-size:9.5pt" align=center>-</P>
</TD><TD valign=top width=14.8><P>&nbsp;</P></TD><TD style="border-bottom:1px solid #000000" valign=bottom width=21.067><P>&nbsp;</P></TD><TD style="border-bottom:1px solid #000000" valign=bottom width=71.267><P style="line-height:11.5pt; margin:0px; padding-right:-8.067px; font-size:9.5pt" align=center>-</P>
</TD><TD valign=top width=14.8><P>&nbsp;</P></TD><TD style="border-bottom:1px solid #000000" valign=bottom width=21.067><P>&nbsp;</P></TD><TD style="border-bottom:1px solid #000000" valign=bottom width=79><P style="line-height:11.5pt; margin:0px; padding-right:-8.067px; font-size:9.5pt" align=right>333,576</P>
</TD></TR>
<TR><TD valign=bottom width=47><P>&nbsp;</P></TD><TD valign=bottom width=138.2 colspan=2><P style="line-height:11.5pt; margin:0px; font-size:9.5pt">Total Mutual Funds</P>
</TD><TD valign=top width=14.8><P>&nbsp;</P></TD><TD style="border-bottom:1px solid #000000" valign=bottom width=21.067><P>&nbsp;</P></TD><TD style="border-bottom:1px solid #000000" valign=bottom width=59.667><P style="line-height:11.5pt; margin:0px; padding-right:-8.067px; font-size:9.5pt" align=right>6,691,794</P>
</TD><TD valign=top width=14.8><P>&nbsp;</P></TD><TD style="border-bottom:1px solid #000000" valign=bottom width=21.067><P>&nbsp;</P></TD><TD style="border-bottom:1px solid #000000" valign=bottom width=74.467><P style="line-height:11.5pt; margin:0px; font-size:9.5pt" align=center>-</P>
</TD><TD valign=top width=14.8><P>&nbsp;</P></TD><TD style="border-bottom:1px solid #000000" valign=bottom width=21.067><P>&nbsp;</P></TD><TD style="border-bottom:1px solid #000000" valign=bottom width=71.267><P style="line-height:11.5pt; margin:0px; padding-right:-8.067px; font-size:9.5pt" align=center>-</P>
</TD><TD valign=top width=14.8><P>&nbsp;</P></TD><TD style="border-bottom:1px solid #000000" valign=bottom width=21.067><P>&nbsp;</P></TD><TD style="border-bottom:1px solid #000000" valign=bottom width=79><P style="line-height:11.5pt; margin:0px; padding-right:-8.067px; font-size:9.5pt" align=right>6,691,794</P>
</TD></TR>
<TR><TD valign=bottom width=47><P>&nbsp;</P></TD><TD valign=bottom width=138.2 colspan=2><P>&nbsp;</P></TD><TD valign=top width=14.8><P>&nbsp;</P></TD><TD valign=bottom width=21.067><P>&nbsp;</P></TD><TD valign=bottom width=59.667><P>&nbsp;</P></TD><TD valign=top width=14.8><P>&nbsp;</P></TD><TD valign=bottom width=21.067><P>&nbsp;</P></TD><TD valign=bottom width=74.467><P>&nbsp;</P></TD><TD valign=top width=14.8><P>&nbsp;</P></TD><TD valign=bottom width=21.067><P>&nbsp;</P></TD><TD valign=bottom width=71.267><P>&nbsp;</P></TD><TD valign=top width=14.8><P>&nbsp;</P></TD><TD valign=bottom width=21.067><P>&nbsp;</P></TD><TD valign=bottom width=79><P>&nbsp;</P></TD></TR>
<TR><TD valign=bottom width=154 colspan=2><P style="line-height:11.5pt; margin:0px; font-size:9.5pt">Common Stock</P>
</TD><TD valign=bottom width=31.2><P>&nbsp;</P></TD><TD valign=top width=14.8><P>&nbsp;</P></TD><TD valign=bottom width=21.067><P>&nbsp;</P></TD><TD valign=bottom width=59.667><P>&nbsp;</P></TD><TD valign=top width=14.8><P>&nbsp;</P></TD><TD valign=bottom width=21.067><P>&nbsp;</P></TD><TD valign=bottom width=74.467><P>&nbsp;</P></TD><TD valign=top width=14.8><P>&nbsp;</P></TD><TD valign=bottom width=21.067><P>&nbsp;</P></TD><TD valign=bottom width=71.267><P>&nbsp;</P></TD><TD valign=top width=14.8><P>&nbsp;</P></TD><TD valign=bottom width=21.067><P>&nbsp;</P></TD><TD valign=bottom width=79><P>&nbsp;</P></TD></TR>
<TR><TD valign=bottom width=47><P>&nbsp;</P></TD><TD valign=bottom width=138.2 colspan=2><P style="line-height:11.5pt; margin:0px; font-size:9.5pt">Financial Institution</P>
</TD><TD valign=top width=14.8><P>&nbsp;</P></TD><TD valign=bottom width=21.067><P>&nbsp;</P></TD><TD valign=bottom width=59.667><P style="line-height:11.5pt; margin:0px; padding-right:-8.067px; font-size:9.5pt" align=right>417,023</P>
</TD><TD valign=top width=14.8><P>&nbsp;</P></TD><TD valign=bottom width=21.067><P>&nbsp;</P></TD><TD valign=bottom width=74.467><P style="line-height:11.5pt; margin:0px; font-size:9.5pt" align=center>-</P>
</TD><TD valign=top width=14.8><P>&nbsp;</P></TD><TD valign=bottom width=21.067><P>&nbsp;</P></TD><TD valign=bottom width=71.267><P style="line-height:11.5pt; margin:0px; padding-right:-8.067px; font-size:9.5pt" align=center>-</P>
</TD><TD valign=top width=14.8><P>&nbsp;</P></TD><TD valign=bottom width=21.067><P>&nbsp;</P></TD><TD valign=bottom width=79><P style="line-height:11.5pt; margin:0px; padding-right:-8.067px; font-size:9.5pt" align=right>417,023</P>
</TD></TR>
<TR><TD valign=bottom width=185.2 colspan=3><P style="line-height:11.5pt; margin:0px; font-size:9.5pt">Preferred Stock</P>
</TD><TD valign=top width=14.8><P>&nbsp;</P></TD><TD valign=bottom width=21.067><P>&nbsp;</P></TD><TD valign=bottom width=59.667><P>&nbsp;</P></TD><TD valign=top width=14.8><P>&nbsp;</P></TD><TD valign=bottom width=21.067><P>&nbsp;</P></TD><TD valign=bottom width=74.467><P>&nbsp;</P></TD><TD valign=top width=14.8><P>&nbsp;</P></TD><TD valign=bottom width=21.067><P>&nbsp;</P></TD><TD valign=bottom width=71.267><P>&nbsp;</P></TD><TD valign=top width=14.8><P>&nbsp;</P></TD><TD valign=bottom width=21.067><P>&nbsp;</P></TD><TD valign=bottom width=79><P>&nbsp;</P></TD></TR>
<TR><TD valign=bottom width=47><P>&nbsp;</P></TD><TD valign=bottom width=138.2 colspan=2><P style="line-height:11.5pt; margin:0px; font-size:9.5pt">Financial Institution</P>
</TD><TD valign=top width=14.8><P>&nbsp;</P></TD><TD valign=bottom width=21.067><P>&nbsp;</P></TD><TD valign=bottom width=59.667><P style="line-height:11.5pt; margin:0px; padding-right:-8.067px; font-size:9.5pt" align=right>496,807</P>
</TD><TD valign=top width=14.8><P>&nbsp;</P></TD><TD valign=bottom width=21.067><P>&nbsp;</P></TD><TD valign=bottom width=74.467><P style="line-height:11.5pt; margin:0px; font-size:9.5pt" align=center>-</P>
</TD><TD valign=top width=14.8><P>&nbsp;</P></TD><TD valign=bottom width=21.067><P>&nbsp;</P></TD><TD valign=bottom width=71.267><P style="line-height:11.5pt; margin:0px; padding-right:-8.067px; font-size:9.5pt" align=center>-</P>
</TD><TD valign=top width=14.8><P>&nbsp;</P></TD><TD valign=bottom width=21.067><P>&nbsp;</P></TD><TD valign=bottom width=79><P style="line-height:11.5pt; margin:0px; padding-right:-8.067px; font-size:9.5pt" align=right>496,807</P>
</TD></TR>
<TR><TD valign=bottom width=185.2 colspan=3><P style="line-height:11.5pt; margin:0px; font-size:9.5pt">Money Market Funds/Cash Equivalent</P>
</TD><TD valign=top width=14.8><P>&nbsp;</P></TD><TD valign=bottom width=21.067><P>&nbsp;</P></TD><TD valign=bottom width=59.667><P>&nbsp;</P></TD><TD valign=top width=14.8><P>&nbsp;</P></TD><TD valign=bottom width=21.067><P>&nbsp;</P></TD><TD valign=bottom width=74.467><P style="line-height:11.5pt; margin:0px; font-size:9.5pt" align=right>&nbsp;1,879,476</P>
</TD><TD valign=top width=14.8><P>&nbsp;</P></TD><TD valign=bottom width=21.067><P>&nbsp;</P></TD><TD valign=bottom width=71.267><P style="line-height:11.5pt; margin:0px; padding-right:-8.067px; font-size:9.5pt" align=center>-</P>
</TD><TD valign=top width=14.8><P>&nbsp;</P></TD><TD valign=bottom width=21.067><P>&nbsp;</P></TD><TD valign=bottom width=79><P style="line-height:11.5pt; margin:0px; padding-right:-4.8px; font-size:9.5pt" align=right>1,879,476</P>
</TD></TR>
<TR><TD valign=bottom width=185.2 colspan=3><P style="line-height:11.5pt; margin:0px; font-size:9.5pt">Annuities</P>
</TD><TD valign=top width=14.8><P>&nbsp;</P></TD><TD style="border-bottom:1px solid #000000" valign=bottom width=21.067><P>&nbsp;</P></TD><TD valign=bottom width=59.667><P style="line-height:11.5pt; margin:0px; padding-right:-8.067px; font-size:9.5pt" align=center>-</P>
</TD><TD valign=top width=14.8><P>&nbsp;</P></TD><TD style="border-bottom:1px solid #000000" valign=bottom width=21.067><P>&nbsp;</P></TD><TD valign=bottom width=74.467><P style="line-height:11.5pt; margin:0px; font-size:9.5pt" align=right>111,818</P>
</TD><TD valign=top width=14.8><P>&nbsp;</P></TD><TD style="border-bottom:1px solid #000000" valign=bottom width=21.067><P>&nbsp;</P></TD><TD valign=bottom width=71.267><P style="line-height:11.5pt; margin:0px; padding-right:-8.067px; font-size:9.5pt" align=center>-</P>
</TD><TD valign=top width=14.8><P>&nbsp;</P></TD><TD style="border-bottom:1px solid #000000" valign=bottom width=21.067><P>&nbsp;</P></TD><TD valign=bottom width=79><P style="line-height:11.5pt; margin:0px; padding-right:-4.8px; font-size:9.5pt" align=right>111,818</P>
</TD></TR>
<TR><TD valign=bottom width=47><P>&nbsp;</P></TD><TD valign=bottom width=107><P>&nbsp;</P></TD><TD valign=bottom width=31.2><P>&nbsp;</P></TD><TD valign=top width=14.8><P>&nbsp;</P></TD><TD valign=bottom width=21.067><P>&nbsp;</P></TD><TD style="border-top:1px solid #000000" valign=bottom width=59.667><P>&nbsp;</P></TD><TD valign=top width=14.8><P>&nbsp;</P></TD><TD valign=bottom width=21.067><P>&nbsp;</P></TD><TD style="border-top:1px solid #000000" valign=bottom width=74.467><P>&nbsp;</P></TD><TD valign=top width=14.8><P>&nbsp;</P></TD><TD valign=bottom width=21.067><P>&nbsp;</P></TD><TD style="border-top:1px solid #000000" valign=bottom width=71.267><P>&nbsp;</P></TD><TD valign=top width=14.8><P>&nbsp;</P></TD><TD valign=bottom width=21.067><P>&nbsp;</P></TD><TD style="border-top:1px solid #000000" valign=bottom width=79><P>&nbsp;</P></TD></TR>
<TR><TD valign=bottom width=185.2 colspan=3><P style="line-height:11.5pt; margin:0px; font-size:9.5pt">Total assets, at fair value</P>
</TD><TD valign=top width=14.8><P>&nbsp;</P></TD><TD style="border-bottom:3px double #000000" valign=bottom width=21.067><P style="line-height:11.5pt; margin:0px; font-size:9.5pt" align=right>$</P>
</TD><TD style="border-bottom:3px double #000000" valign=bottom width=59.667><P style="line-height:11.5pt; margin:0px; padding-right:-8.067px; font-size:9.5pt" align=right>7,605,624</P>
</TD><TD valign=top width=14.8><P>&nbsp;</P></TD><TD style="border-bottom:3px double #000000" valign=bottom width=21.067><P style="line-height:11.5pt; margin:0px; font-size:9.5pt" align=right>&nbsp;$ </P>
</TD><TD style="border-bottom:3px double #000000" valign=bottom width=74.467><P style="line-height:11.5pt; margin:0px; font-size:9.5pt" align=center>16,911,474</P>
</TD><TD valign=top width=14.8><P>&nbsp;</P></TD><TD style="border-bottom:3px double #000000" valign=bottom width=21.067><P style="line-height:11.5pt; margin:0px; font-size:9.5pt" align=right>&nbsp;$ </P>
</TD><TD style="border-bottom:3px double #000000" valign=bottom width=71.267><P style="line-height:11.5pt; margin:0px; padding-left:48px; padding-right:-8.067px; text-indent:-24px; font-size:9.5pt" align=center>- </P>
</TD><TD valign=top width=14.8><P>&nbsp;</P></TD><TD style="border-bottom:3px double #000000" valign=bottom width=21.067><P style="line-height:11.5pt; margin:0px; font-size:9.5pt" align=right>&nbsp;$ </P>
</TD><TD style="border-bottom:3px double #000000" valign=bottom width=79><P style="line-height:11.5pt; margin:0px; padding-right:-4.8px; font-size:9.5pt" align=right>24,517,098</P>
</TD><A NAME="OLE_LINK1"></A></TR>
</TABLE>
<P style="line-height:14pt; margin:0px; padding-right:-24px; font-size:12pt" align=center>14</P>
<P style="margin:0px" align=justify><BR></P>
<P style="line-height:14pt; margin:0px; padding-right:-24px; font-size:12pt" align=justify>NOTE 7 - FAIR VALUE MEASUREMENTS (continued)</P>
<P style="margin:0px" align=justify><BR></P>
<P style="line-height:14pt; margin:0px; padding-right:-24px; font-size:12pt" align=justify><U>Fair Value of Investments in Entities that Use NAV</U></P>
<P style="margin:0px" align=justify><BR></P>
<P style="line-height:14pt; margin:0px; padding-right:-24px; font-size:12pt" align=justify>The following table summarizes investments measured at fair value based on NAV per share as of December 31, 2013 and 2012, respectively.</P>
<P style="margin:0px" align=justify><BR></P>
<TABLE style="font-size:10pt" cellspacing=0><TR style="font-size:0"><TD width=163.2></TD><TD width=92.133></TD><TD width=127.667></TD><TD width=170.2></TD><TD width=132></TD></TR>
<TR><TD valign=top width=163.2><P style="margin:0px" align=justify><BR></P>
<P style="margin:0px; padding-right:-24px" align=justify><U>December 31, 2013</U></P>
</TD><TD valign=top width=92.133><P style="margin:0px" align=center><BR></P>
<P style="margin:0px; padding-right:-24px" align=center><U>Fair Value</U></P>
</TD><TD valign=top width=127.667><P style="margin:0px; padding-right:-24px" align=center>Unfunded</P>
<P style="margin:0px; padding-right:-24px" align=center><U>Commitments</U></P>
</TD><TD valign=top width=170.2><P style="margin:0px; padding-right:-24px" align=center>Redemption Frequency</P>
<P style="margin:0px; padding-right:-24px" align=center><U>(if currently eligible)</U></P>
</TD><TD valign=top width=132><P style="margin:0px; padding-right:-24px" align=center>Redemption Notice</P>
<P style="margin:0px; padding-right:-24px" align=center><U>Period</U></P>
</TD></TR>
<TR><TD valign=top width=163.2><P style="margin:0px; padding-right:-24px" align=justify>Common/Collective Trust</P>
</TD><TD valign=top width=92.133><P style="margin:0px; padding-right:-24px" align=center>$17,686,772</P>
</TD><TD valign=top width=127.667><P style="margin:0px; padding-right:-24px" align=center>N/A</P>
</TD><TD valign=top width=170.2><P style="margin:0px; padding-right:-24px" align=center>Daily</P>
</TD><TD valign=top width=132><P style="margin:0px; padding-right:-24px" align=center>Daily</P>
</TD></TR>
<TR><TD valign=top width=163.2><P>&nbsp;</P></TD><TD valign=top width=92.133><P>&nbsp;</P></TD><TD valign=top width=127.667><P>&nbsp;</P></TD><TD valign=top width=170.2><P>&nbsp;</P></TD><TD valign=top width=132><P>&nbsp;</P></TD></TR>
<TR><TD valign=top width=163.2><P style="margin:0px" align=justify><BR></P>
<P style="margin:0px; padding-right:-24px" align=justify><U>December 31, 2012</U></P>
</TD><TD valign=top width=92.133><P style="margin:0px" align=center><BR></P>
<P style="margin:0px; padding-right:-24px" align=center><U>Fair Value</U></P>
</TD><TD valign=top width=127.667><P style="margin:0px; padding-right:-24px" align=center>Unfunded</P>
<P style="margin:0px; padding-right:-24px" align=center><U>Commitments</U></P>
</TD><TD valign=top width=170.2><P style="margin:0px; padding-right:-24px" align=center>Redemption Frequency</P>
<P style="margin:0px; padding-right:-24px" align=center><U>(if currently eligible)</U></P>
</TD><TD valign=top width=132><P style="margin:0px; padding-right:-24px" align=center>Redemption Notice</P>
<P style="margin:0px; padding-right:-24px" align=center><U>Period</U></P>
</TD></TR>
<TR><TD valign=top width=163.2><P style="margin:0px; padding-right:-24px" align=justify>Common/Collective Trust</P>
</TD><TD valign=top width=92.133><P style="margin:0px; padding-right:-24px" align=center>$14,920,180</P>
</TD><TD valign=top width=127.667><P style="margin:0px; padding-right:-24px" align=center>N/A</P>
</TD><TD valign=top width=170.2><P style="margin:0px; padding-right:-24px" align=center>Daily</P>
</TD><TD valign=top width=132><P style="margin:0px; padding-right:-24px" align=center>Daily</P>
</TD></TR>
</TABLE>
<P style="margin:0px" align=justify><BR></P>
<P style="line-height:14pt; margin-top:0px; margin-bottom:16px; font-size:12pt">NOTE 8 - FAIR VALUE OF FINANCIAL INSTRUMENTS</P>
<P style="line-height:14pt; margin-top:0px; margin-bottom:16px; font-size:12pt" align=justify>Financial instruments are defined as cash, evidence of ownership interest in an entity, or a contract which creates an obligation or right to receive or deliver cash or another financial instrument from/to a second entity on potentially favorable or unfavorable terms. &nbsp;Fair value is defined as the amount at which a financial instrument could be exchanged in a current transaction between willing parties other than in a forced liquidation or sale. &nbsp;If a quoted market price is available for a financial instrument, the estimated fair value would be calculated based upon the market price per trading unit of the instrument.</P>
<P style="line-height:14pt; margin-top:0px; margin-bottom:13.333px; font-size:12pt" align=justify>Investments in mutual funds, money market funds, annuities, notes receivable from participants, common/collective funds, AmeriServ Financial, Inc. common stock and AmeriServ Financial Capital Trust preferred stock, contributions receivable, accrued interest receivable, cash and cash equivalents would be considered financial instruments. At December&nbsp;31, 2013 and 2012, the carrying amounts of these financial instruments approximate fair value.</P>
<P style="line-height:14pt; margin-top:0px; margin-bottom:16px; font-size:12pt" align=justify>NOTE 9 &#150; RISKS AND UNCERTAINTIES</P>
<P style="line-height:14pt; margin-top:0px; margin-bottom:16px; font-size:12pt" align=justify>The Plan invests in various investment securities. &nbsp;Investment securities are exposed to various risks such as interest rate, market, and credit risks. &nbsp;Due to the level of risk associated with certain investment securities, it is at least reasonably possible that changes in the values of investment securities will occur in the near term and that such changes could materially affect participants&#146; account balances and the amounts reported in the Statement of Net Assets Available for Benefits.</P>
<P style="line-height:14pt; margin-top:0px; margin-bottom:16px; font-size:12pt" align=center>15</P>
<P style="margin-top:0px; margin-bottom:16px" align=justify><BR>
<BR></P>
<P style="margin:0px"><BR></P>
<P style="margin:0px" align=justify><BR></P>
<P style="margin:0px; page-break-before:always" align=justify><BR></P>
<P style="margin:0px" align=justify><BR></P>
<P style="margin-top:0px; margin-bottom:16px" align=justify><BR></P>
<A NAME="OLE_LINK2"></A><A NAME="RANGE!A1"></A><TABLE style="font-size:10pt" cellspacing=0><TR style="font-size:0"><TD width=14.933></TD><TD width=14.267></TD><TD width=0.667></TD><TD width=133.733></TD><TD width=85.133></TD><TD width=183.733></TD><TD width=62.4></TD><TD width=61.067></TD><TD width=21.067></TD><TD width=90></TD></TR>
<TR><TD valign=bottom width=667 colspan=10><P style="line-height:14pt; margin:0px; font-size:12pt" align=center>AMERISERV FINANCIAL 401(k) PROFIT SHARING PLAN</P>
</TD></TR>
<TR><TD valign=bottom width=667 colspan=10><P style="line-height:14pt; margin:0px; font-size:12pt" align=center>SCHEDULE H, LINE 4i - SCHEDULE OF ASSETS (HELD AT END OF YEAR)</P>
</TD></TR>
<TR><TD valign=bottom width=667 colspan=10><P style="line-height:14pt; margin:0px; font-size:12pt" align=center>EMPLOYER IDENTIFICATION NUMBER 25-0851535</P>
</TD></TR>
<TR><TD valign=bottom width=667 colspan=10><P style="line-height:14pt; margin:0px; font-size:12pt" align=center>PLAN NUMBER &#150; 002</P>
</TD></TR>
<TR><TD valign=bottom width=667 colspan=10><P style="line-height:14pt; margin:0px; font-size:12pt" align=center>DECEMBER 31, 2013</P>
</TD></TR>
<TR><TD valign=bottom width=29.2 colspan=2><P>&nbsp;</P></TD><TD valign=bottom width=219.533 colspan=3><P>&nbsp;</P></TD><TD valign=bottom width=183.733><P>&nbsp;</P></TD><TD valign=bottom width=62.4><P>&nbsp;</P></TD><TD valign=bottom width=61.067><P>&nbsp;</P></TD><TD valign=bottom width=21.067><P>&nbsp;</P></TD><TD valign=bottom width=90><P>&nbsp;</P></TD></TR>
<TR><TD valign=top width=29.2 colspan=2><P style="margin:0px">(a)</P>
</TD><TD valign=top width=219.533 colspan=3><P style="margin:0px">(b) Identity of issue, borrower, lessor, </P>
</TD><TD valign=top width=183.733><P style="margin:0px">(c) Description of investment </P>
</TD><TD valign=top width=62.4><P>&nbsp;</P></TD><TD valign=top width=61.067><P style="margin:0px" align=justify>(d) Cost</P>
</TD><TD valign=top width=21.067><P>&nbsp;</P></TD><TD valign=top width=90><P style="margin:0px" align=center>(e) Current </P>
</TD></TR>
<TR><TD valign=top width=29.2 colspan=2><P>&nbsp;</P></TD><TD valign=top width=219.533 colspan=3><P style="margin:0px">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;or similar party</P>
</TD><TD valign=top width=183.733><P style="margin:0px">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;including maturity date,</P>
</TD><TD valign=top width=62.4><P>&nbsp;</P></TD><TD valign=top width=61.067><P>&nbsp;</P></TD><TD valign=top width=21.067><P>&nbsp;</P></TD><TD valign=top width=90><P style="margin:0px" align=center>&nbsp;&nbsp;Value</P>
</TD></TR>
<TR><TD valign=top width=29.2 colspan=2><P>&nbsp;</P></TD><TD valign=top width=219.533 colspan=3><P>&nbsp;</P></TD><TD valign=top width=183.733><P style="margin:0px">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;rate of interest, collateral, </P>
</TD><TD valign=top width=62.4><P>&nbsp;</P></TD><TD valign=top width=61.067><P>&nbsp;</P></TD><TD valign=top width=21.067><P>&nbsp;</P></TD><TD valign=top width=90><P>&nbsp;</P></TD></TR>
<TR><TD valign=top width=29.2 colspan=2><P>&nbsp;</P></TD><TD valign=top width=219.533 colspan=3><P>&nbsp;</P></TD><TD valign=top width=183.733><P style="margin:0px">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;par or maturity value</P>
</TD><TD valign=top width=62.4><P>&nbsp;</P></TD><TD valign=top width=61.067><P>&nbsp;</P></TD><TD valign=top width=21.067><P>&nbsp;</P></TD><TD valign=top width=90><P>&nbsp;</P></TD></TR>
<TR><TD valign=bottom width=29.2 colspan=2><P>&nbsp;</P></TD><TD valign=top width=219.533 colspan=3><P>&nbsp;</P></TD><TD valign=top width=183.733><P>&nbsp;</P></TD><TD valign=top width=62.4><P>&nbsp;</P></TD><TD valign=top width=61.067><P>&nbsp;</P></TD><TD valign=top width=21.067><P>&nbsp;</P></TD><TD valign=top width=90><P>&nbsp;</P></TD></TR>
<TR><TD valign=bottom width=29.2 colspan=2><P>&nbsp;</P></TD><TD valign=top width=219.533 colspan=3><P style="margin:0px"><B><U>Common Stock</U></B></P>
</TD><TD valign=top width=183.733><P>&nbsp;</P></TD><TD valign=top width=62.4><P>&nbsp;</P></TD><TD valign=top width=61.067><P>&nbsp;</P></TD><TD valign=top width=21.067><P>&nbsp;</P></TD><TD valign=top width=90><P>&nbsp;</P></TD></TR>
<TR><TD valign=bottom width=29.2 colspan=2><P style="margin:0px; font-family:Calibri">*</P>
</TD><TD valign=top width=219.533 colspan=3><P style="margin:0px">AmeriServ Financial, Inc.</P>
</TD><TD valign=top width=183.733><P style="margin:0px">AmeriServ Financial, Inc.</P>
</TD><TD valign=top width=62.4><P>&nbsp;</P></TD><TD valign=top width=61.067><P style="margin:0px">N/R</P>
</TD><TD valign=top width=21.067><P style="margin:0px" align=right>$</P>
</TD><TD style="border-bottom:1px solid #000000" valign=top width=90><P style="margin:0px; padding-right:-7.2px" align=right>337,584</P>
</TD></TR>
<TR><TD valign=bottom width=29.2 colspan=2><P>&nbsp;</P></TD><TD valign=top width=219.533 colspan=3><P>&nbsp;</P></TD><TD valign=top width=183.733><P>&nbsp;</P></TD><TD valign=top width=62.4><P>&nbsp;</P></TD><TD valign=top width=61.067><P>&nbsp;</P></TD><TD valign=top width=21.067><P>&nbsp;</P></TD><TD valign=top width=90><P>&nbsp;</P></TD></TR>
<TR><TD valign=bottom width=29.2 colspan=2><P>&nbsp;</P></TD><TD valign=top width=219.533 colspan=3><P style="margin:0px"><B>Total Common Stock</B></P>
</TD><TD valign=top width=183.733><P>&nbsp;</P></TD><TD valign=top width=62.4><P>&nbsp;</P></TD><TD valign=top width=61.067><P>&nbsp;</P></TD><TD valign=top width=21.067><P>&nbsp;</P></TD><TD style="border-bottom:1px solid #000000" valign=top width=90><P style="margin:0px; padding-right:-7.2px" align=right>337,584</P>
</TD></TR>
<TR><TD valign=bottom width=29.2 colspan=2><P>&nbsp;</P></TD><TD valign=top width=219.533 colspan=3><P>&nbsp;</P></TD><TD valign=top width=183.733><P>&nbsp;</P></TD><TD valign=top width=62.4><P>&nbsp;</P></TD><TD valign=top width=61.067><P>&nbsp;</P></TD><TD valign=top width=21.067><P>&nbsp;</P></TD><TD valign=top width=90><P>&nbsp;</P></TD></TR>
<TR><TD valign=bottom width=29.2 colspan=2><P>&nbsp;</P></TD><TD valign=top width=219.533 colspan=3><P style="margin:0px"><B><U>Preferred Stock</U></B></P>
</TD><TD valign=top width=183.733><P>&nbsp;</P></TD><TD valign=top width=62.4><P>&nbsp;</P></TD><TD valign=top width=61.067><P>&nbsp;</P></TD><TD valign=top width=21.067><P>&nbsp;</P></TD><TD valign=top width=90><P>&nbsp;</P></TD></TR>
<TR><TD valign=bottom width=29.2 colspan=2><P style="margin:0px; font-family:Calibri">*</P>
</TD><TD valign=top width=219.533 colspan=3><P style="margin:0px">AmeriServ Financial, Inc.</P>
</TD><TD valign=top width=246.133 colspan=2><P style="margin:0px">AmeriServ Financial Capital Trust</P>
</TD><TD valign=top width=61.067><P style="margin:0px">N/R</P>
</TD><TD valign=top width=21.067><P>&nbsp;</P></TD><TD style="border-bottom:1px solid #000000" valign=top width=90><P style="margin:0px; padding-right:-7.2px" align=right>463,955</P>
</TD></TR>
<TR><TD valign=bottom width=29.2 colspan=2><P>&nbsp;</P></TD><TD valign=top width=219.533 colspan=3><P>&nbsp;</P></TD><TD valign=top width=183.733><P>&nbsp;</P></TD><TD valign=top width=62.4><P>&nbsp;</P></TD><TD valign=top width=61.067><P>&nbsp;</P></TD><TD valign=top width=21.067><P>&nbsp;</P></TD><TD valign=top width=90><P>&nbsp;</P></TD></TR>
<TR><TD valign=bottom width=29.2 colspan=2><P>&nbsp;</P></TD><TD valign=top width=219.533 colspan=3><P style="margin:0px"><B>Total Preferred Stock</B></P>
</TD><TD valign=top width=183.733><P>&nbsp;</P></TD><TD valign=top width=62.4><P>&nbsp;</P></TD><TD valign=top width=61.067><P>&nbsp;</P></TD><TD valign=top width=21.067><P>&nbsp;</P></TD><TD style="border-bottom:1px solid #000000" valign=top width=90><P style="margin:0px; padding-right:-7.2px" align=right>463,955</P>
</TD></TR>
<TR><TD valign=bottom width=29.2 colspan=2><P>&nbsp;</P></TD><TD valign=top width=219.533 colspan=3><P>&nbsp;</P></TD><TD valign=top width=183.733 rowspan=2><P>&nbsp;</P></TD><TD valign=top width=62.4><P>&nbsp;</P></TD><TD valign=top width=61.067 rowspan=2><P>&nbsp;</P></TD><TD valign=top width=21.067><P>&nbsp;</P></TD><TD valign=top width=90 rowspan=2><P>&nbsp;</P></TD></TR>
<TR><TD valign=bottom width=29.2 colspan=2><P>&nbsp;</P></TD><TD valign=top width=219.533 colspan=3><P style="margin:0px"><B><U>Mutual Funds</U></B></P>
</TD><TD valign=top width=62.4><P>&nbsp;</P></TD><TD valign=top width=21.067><P>&nbsp;</P></TD></TR>
<TR><TD valign=bottom width=29.2 colspan=2><P>&nbsp;</P></TD><TD valign=top width=219.533 colspan=3><P style="margin:0px; text-indent:13.333px">Alliance Bernstein</P>
</TD><TD valign=top width=183.733><P style="margin:0px; text-indent:13.333px">S/C &#150; Adv #426</P>
</TD><TD valign=top width=62.4><P>&nbsp;</P></TD><TD valign=top width=61.067><P style="margin:0px">N/R</P>
</TD><TD valign=top width=21.067><P>&nbsp;</P></TD><TD valign=top width=90><P style="margin:0px; padding-right:-7.2px" align=right>205,013</P>
</TD></TR>
<TR><TD valign=bottom width=29.2 colspan=2><P>&nbsp;</P></TD><TD valign=top width=219.533 colspan=3><P style="margin:0px; text-indent:13.333px">Calvert </P>
</TD><TD valign=top width=183.733><P style="margin:0px; text-indent:13.333px">Calvert Social Equity</P>
</TD><TD valign=top width=62.4><P>&nbsp;</P></TD><TD valign=top width=61.067><P style="margin:0px">N/R</P>
</TD><TD valign=top width=21.067><P>&nbsp;</P></TD><TD valign=top width=90><P style="margin:0px; padding-right:-7.2px" align=right>1,079</P>
</TD></TR>
<TR><TD valign=bottom width=29.2 colspan=2><P>&nbsp;</P></TD><TD valign=top width=219.533 colspan=3><P style="margin:0px; text-indent:13.333px">Federated</P>
</TD><TD valign=top width=183.733><P style="margin:0px; text-indent:13.333px">Inst&#146;l High-Yield Bond Fd </P>
</TD><TD valign=top width=62.4><P>&nbsp;</P></TD><TD valign=top width=61.067><P style="margin:0px">N/R</P>
</TD><TD valign=top width=21.067><P>&nbsp;</P></TD><TD valign=top width=90><P style="margin:0px; padding-right:-7.2px" align=right>52,555</P>
</TD></TR>
<TR><TD valign=bottom width=29.2 colspan=2><P>&nbsp;</P></TD><TD valign=top width=219.533 colspan=3><P style="margin:0px; text-indent:13.333px">Fidelity</P>
</TD><TD valign=top width=183.733><P style="margin:0px; text-indent:13.333px">Sel Softward &amp; Comp #28</P>
</TD><TD valign=top width=62.4><P>&nbsp;</P></TD><TD valign=top width=61.067><P style="margin:0px">N/R</P>
</TD><TD valign=top width=21.067><P>&nbsp;</P></TD><TD valign=top width=90><P style="margin:0px; padding-right:-7.2px" align=right>100,028</P>
</TD></TR>
<TR><TD valign=bottom width=29.2 colspan=2><P>&nbsp;</P></TD><TD valign=top width=219.533 colspan=3><P style="margin:0px; text-indent:13.333px">Fidelity</P>
</TD><TD valign=top width=183.733><P style="margin:0px; text-indent:13.333px">Low-Priced Stock Fund</P>
</TD><TD valign=top width=62.4><P>&nbsp;</P></TD><TD valign=top width=61.067><P style="margin:0px">N/R</P>
</TD><TD valign=top width=21.067><P>&nbsp;</P></TD><TD valign=top width=90><P style="margin:0px; padding-right:-7.2px" align=right>811,757</P>
</TD></TR>
<TR><TD valign=bottom width=29.2 colspan=2><P>&nbsp;</P></TD><TD valign=top width=219.533 colspan=3><P style="margin:0px; text-indent:13.333px">Fidelity</P>
</TD><TD valign=top width=183.733><P style="margin:0px; text-indent:13.333px">New Markets</P>
</TD><TD valign=top width=62.4><P>&nbsp;</P></TD><TD valign=top width=61.067><P style="margin:0px">N/R</P>
</TD><TD valign=top width=21.067><P>&nbsp;</P></TD><TD valign=top width=90><P style="margin:0px; padding-right:-7.2px" align=right>80,137</P>
</TD></TR>
<TR><TD valign=bottom width=29.2 colspan=2><P>&nbsp;</P></TD><TD valign=top width=219.533 colspan=3><P style="margin:0px; text-indent:13.333px">First Eagle</P>
</TD><TD valign=top width=183.733><P style="margin:0px; text-indent:13.333px">Global Fund &#150;I</P>
</TD><TD valign=top width=62.4><P>&nbsp;</P></TD><TD valign=top width=61.067><P style="margin:0px">N/R</P>
</TD><TD valign=top width=21.067><P>&nbsp;</P></TD><TD valign=top width=90><P style="margin:0px; padding-right:-7.2px" align=right>309,672</P>
</TD></TR>
<TR><TD valign=bottom width=29.2 colspan=2><P>&nbsp;</P></TD><TD valign=top width=219.533 colspan=3><P style="margin:0px; text-indent:13.333px">Harbor</P>
</TD><TD valign=top width=183.733><P style="margin:0px; text-indent:13.333px">Inst&#146;l Lnt&#146;l Fd</P>
</TD><TD valign=top width=62.4><P>&nbsp;</P></TD><TD valign=top width=61.067><P style="margin:0px">N/R</P>
</TD><TD valign=top width=21.067><P>&nbsp;</P></TD><TD valign=top width=90><P style="margin:0px; padding-right:-7.2px" align=right>43,013</P>
</TD></TR>
<TR><TD valign=bottom width=29.2 colspan=2><P>&nbsp;</P></TD><TD valign=top width=219.533 colspan=3><P style="margin:0px; text-indent:13.333px">John Hancock III</P>
</TD><TD valign=top width=183.733><P style="margin:0px; text-indent:13.333px">Disc Value Mid Cap</P>
</TD><TD valign=top width=62.4><P>&nbsp;</P></TD><TD valign=top width=61.067><P style="margin:0px">N/R</P>
</TD><TD valign=top width=21.067><P>&nbsp;</P></TD><TD valign=top width=90><P style="margin:0px; padding-right:-7.2px" align=right>31,342</P>
</TD></TR>
<TR><TD valign=bottom width=29.2 colspan=2><P>&nbsp;</P></TD><TD valign=top width=219.533 colspan=3><P style="margin:0px; text-indent:13.333px">Loomis Sayles</P>
</TD><TD valign=top width=183.733><P style="margin:0px; text-indent:13.333px">Bond Fund</P>
</TD><TD valign=top width=62.4><P>&nbsp;</P></TD><TD valign=top width=61.067><P style="margin:0px">N/R</P>
</TD><TD valign=top width=21.067><P>&nbsp;</P></TD><TD valign=top width=90><P style="margin:0px; padding-right:-7.2px" align=right>215,217</P>
</TD></TR>
<TR><TD valign=bottom width=29.2 colspan=2><P>&nbsp;</P></TD><TD valign=top width=219.533 colspan=3><P style="margin:0px; text-indent:13.333px">MFS</P>
</TD><TD valign=top width=183.733><P style="margin:0px; text-indent:13.333px">International New Discovery</P>
</TD><TD valign=top width=62.4><P>&nbsp;</P></TD><TD valign=top width=61.067><P style="margin:0px">N/R</P>
</TD><TD valign=top width=21.067><P>&nbsp;</P></TD><TD valign=top width=90><P style="margin:0px; padding-right:-7.2px" align=right>211,511</P>
</TD></TR>
<TR><TD valign=bottom width=29.2 colspan=2><P>&nbsp;</P></TD><TD valign=top width=219.533 colspan=3><P style="margin:0px; text-indent:13.333px">Natixis Loomis Sayles</P>
</TD><TD valign=top width=183.733><P style="margin:0px; text-indent:13.333px">Limited Term</P>
</TD><TD valign=top width=62.4><P>&nbsp;</P></TD><TD valign=top width=61.067><P style="margin:0px">N/R</P>
</TD><TD valign=top width=21.067><P>&nbsp;</P></TD><TD valign=top width=90><P style="margin:0px; padding-right:-7.2px" align=right>163,688</P>
</TD></TR>
<TR><TD valign=bottom width=29.2 colspan=2><P>&nbsp;</P></TD><TD valign=top width=219.533 colspan=3><P style="margin:0px; text-indent:13.333px">Pimco</P>
</TD><TD valign=top width=183.733><P style="margin:0px; text-indent:13.333px">GNMA Fund &#150; Inst</P>
</TD><TD valign=top width=62.4><P>&nbsp;</P></TD><TD valign=top width=61.067><P style="margin:0px">N/R</P>
</TD><TD valign=top width=21.067><P>&nbsp;</P></TD><TD valign=top width=90><P style="margin:0px; padding-right:-7.2px" align=right>148,841</P>
</TD></TR>
<TR><TD valign=bottom width=29.2 colspan=2><P>&nbsp;</P></TD><TD valign=top width=219.533 colspan=3><P style="margin:0px; text-indent:13.333px">Pimco</P>
</TD><TD valign=top width=183.733><P style="margin:0px; text-indent:13.333px">Income Instl Fd #1821</P>
</TD><TD valign=top width=62.4><P>&nbsp;</P></TD><TD valign=top width=61.067><P style="margin:0px">N/R</P>
</TD><TD valign=top width=21.067><P>&nbsp;</P></TD><TD valign=top width=90><P style="margin:0px; padding-right:-7.2px" align=right>66,567</P>
</TD></TR>
<TR><TD valign=bottom width=29.2 colspan=2><P>&nbsp;</P></TD><TD valign=top width=219.533 colspan=3><P style="margin:0px; text-indent:13.333px">Pimco</P>
</TD><TD valign=top width=183.733><P style="margin:0px; text-indent:13.333px">Real Estate Real Return St-1</P>
</TD><TD valign=top width=62.4><P>&nbsp;</P></TD><TD valign=top width=61.067><P style="margin:0px">N/R</P>
</TD><TD valign=top width=21.067><P>&nbsp;</P></TD><TD valign=top width=90><P style="margin:0px; padding-right:-7.2px" align=right>3,494</P>
</TD></TR>
<TR><TD valign=bottom width=29.2 colspan=2><P>&nbsp;</P></TD><TD valign=top width=219.533 colspan=3><P style="margin:0px; text-indent:13.333px">Pimco</P>
</TD><TD valign=top width=183.733><P style="margin:0px; text-indent:13.333px">Total Return Fund #35</P>
</TD><TD valign=top width=62.4><P>&nbsp;</P></TD><TD valign=top width=61.067><P style="margin:0px">N/R</P>
</TD><TD valign=top width=21.067><P>&nbsp;</P></TD><TD valign=top width=90><P style="margin:0px; padding-right:-7.2px" align=right>354,793</P>
</TD></TR>
<TR><TD valign=bottom width=29.2 colspan=2><P>&nbsp;</P></TD><TD valign=top width=219.533 colspan=3><P style="margin:0px; text-indent:13.333px">Primecap</P>
</TD><TD valign=top width=183.733><P style="margin:0px; text-indent:13.333px">Odyssey Aggr Grwth Fd</P>
</TD><TD valign=top width=62.4><P>&nbsp;</P></TD><TD valign=top width=61.067><P style="margin:0px">N/R</P>
</TD><TD valign=top width=21.067><P>&nbsp;</P></TD><TD valign=top width=90><P style="margin:0px; padding-right:-7.2px" align=right>342,348</P>
</TD></TR>
<TR><TD valign=bottom width=29.2 colspan=2><P>&nbsp;</P></TD><TD valign=top width=219.533 colspan=3><P style="margin:0px; text-indent:13.333px">T. Rowe Price</P>
</TD><TD valign=top width=183.733><P style="margin:0px; text-indent:13.333px">Capital Appreciation</P>
</TD><TD valign=top width=62.4><P>&nbsp;</P></TD><TD valign=top width=61.067><P style="margin:0px">N/R</P>
</TD><TD valign=top width=21.067><P>&nbsp;</P></TD><TD valign=top width=90><P style="margin:0px; padding-right:-7.2px" align=right>1,411,539</P>
</TD></TR>
<TR><TD valign=bottom width=29.2 colspan=2><P>&nbsp;</P></TD><TD valign=top width=219.533 colspan=3><P style="margin:0px; text-indent:13.333px">T. Rowe Price</P>
</TD><TD valign=top width=183.733><P style="margin:0px; text-indent:13.333px">Equity Income</P>
</TD><TD valign=top width=62.4><P>&nbsp;</P></TD><TD valign=top width=61.067><P style="margin:0px">N/R</P>
</TD><TD valign=top width=21.067><P>&nbsp;</P></TD><TD valign=top width=90><P style="margin:0px; padding-right:-7.2px" align=right>410,983</P>
</TD></TR>
<TR><TD valign=bottom width=29.2 colspan=2><P>&nbsp;</P></TD><TD valign=top width=219.533 colspan=3><P style="margin:0px; text-indent:13.333px">T. Rowe Price</P>
</TD><TD valign=top width=183.733><P style="margin:0px; text-indent:13.333px">Financial Services</P>
</TD><TD valign=top width=62.4><P>&nbsp;</P></TD><TD valign=top width=61.067><P style="margin:0px">N/R</P>
</TD><TD valign=top width=21.067><P>&nbsp;</P></TD><TD valign=top width=90><P style="margin:0px; padding-right:-7.2px" align=right>43,570</P>
</TD></TR>
<TR><TD valign=bottom width=29.2 colspan=2><P>&nbsp;</P></TD><TD valign=top width=219.533 colspan=3><P style="margin:0px; text-indent:13.333px">T. Rowe Price</P>
</TD><TD valign=top width=183.733><P style="margin:0px; text-indent:13.333px">Health Sciences Fd #114</P>
</TD><TD valign=top width=62.4><P>&nbsp;</P></TD><TD valign=top width=61.067><P style="margin:0px">N/R</P>
</TD><TD valign=top width=21.067><P>&nbsp;</P></TD><TD valign=top width=90><P style="margin:0px; padding-right:-7.2px" align=right>569,911</P>
</TD></TR>
<TR><TD valign=bottom width=29.2 colspan=2><P>&nbsp;</P></TD><TD valign=top width=219.533 colspan=3><P style="margin:0px; text-indent:13.333px">T. Rowe Price</P>
</TD><TD valign=top width=183.733><P style="margin:0px; text-indent:13.333px">Retire 2015</P>
</TD><TD valign=top width=62.4><P>&nbsp;</P></TD><TD valign=top width=61.067><P style="margin:0px">N/R</P>
</TD><TD valign=top width=21.067><P>&nbsp;</P></TD><TD valign=top width=90><P style="margin:0px; padding-right:-7.2px" align=right>58,492</P>
</TD></TR>
<TR><TD valign=bottom width=29.2 colspan=2><P>&nbsp;</P></TD><TD valign=top width=219.533 colspan=3><P style="margin:0px; text-indent:13.333px">T. Rowe Price</P>
</TD><TD valign=top width=183.733><P style="margin:0px; text-indent:13.333px">Retire 2025</P>
</TD><TD valign=top width=62.4><P>&nbsp;</P></TD><TD valign=top width=61.067><P style="margin:0px">N/R</P>
</TD><TD valign=top width=21.067><P>&nbsp;</P></TD><TD valign=top width=90><P style="margin:0px; padding-right:-7.2px" align=right>14,590</P>
</TD></TR>
<TR><TD valign=bottom width=29.2 colspan=2><P>&nbsp;</P></TD><TD valign=top width=219.533 colspan=3><P style="margin:0px; text-indent:13.333px">T. Rowe Price</P>
</TD><TD valign=top width=183.733><P style="margin:0px; text-indent:13.333px">Retire 2030</P>
</TD><TD valign=top width=62.4><P>&nbsp;</P></TD><TD valign=top width=61.067><P style="margin:0px">N/R</P>
</TD><TD valign=top width=21.067><P>&nbsp;</P></TD><TD valign=top width=90><P style="margin:0px; padding-right:-7.2px" align=right>4,155</P>
</TD></TR>
<TR><TD valign=bottom width=29.2 colspan=2><P>&nbsp;</P></TD><TD valign=top width=219.533 colspan=3><P style="margin:0px; text-indent:13.333px">T. Rowe Price</P>
</TD><TD valign=top width=183.733><P style="margin:0px; text-indent:13.333px">Retire 2035</P>
</TD><TD valign=top width=62.4><P>&nbsp;</P></TD><TD valign=top width=61.067><P style="margin:0px">N/R</P>
</TD><TD valign=top width=21.067><P>&nbsp;</P></TD><TD valign=top width=90><P style="margin:0px; padding-right:-7.2px" align=right>14,824</P>
</TD></TR>
<TR><TD valign=bottom width=29.2 colspan=2><P>&nbsp;</P></TD><TD valign=top width=219.533 colspan=3><P style="margin:0px; text-indent:13.333px">T. Rowe Price</P>
</TD><TD valign=top width=183.733><P style="margin:0px; text-indent:13.333px">Retire 2040</P>
</TD><TD valign=top width=62.4><P>&nbsp;</P></TD><TD valign=top width=61.067><P style="margin:0px">N/R</P>
</TD><TD valign=top width=21.067><P>&nbsp;</P></TD><TD valign=top width=90><P style="margin:0px; padding-right:-7.2px" align=right>510</P>
</TD></TR>
<TR><TD valign=bottom width=29.2 colspan=2><P>&nbsp;</P></TD><TD valign=top width=219.533 colspan=3><P style="margin:0px; text-indent:13.333px">T. Rowe Price</P>
</TD><TD valign=top width=183.733><P style="margin:0px; text-indent:13.333px">Retire 2045</P>
</TD><TD valign=top width=62.4><P>&nbsp;</P></TD><TD valign=top width=61.067><P style="margin:0px">N/R</P>
</TD><TD valign=top width=21.067><P>&nbsp;</P></TD><TD valign=top width=90><P style="margin:0px; padding-right:-7.2px" align=right>2,739</P>
</TD></TR>
<TR><TD valign=bottom width=29.2 colspan=2><P>&nbsp;</P></TD><TD valign=top width=219.533 colspan=3><P style="margin:0px; text-indent:13.333px">The Yacktman Fund</P>
</TD><TD valign=top width=183.733><P style="margin:0px; text-indent:13.333px">Growth</P>
</TD><TD valign=top width=62.4><P>&nbsp;</P></TD><TD valign=top width=61.067><P style="margin:0px">N/R</P>
</TD><TD valign=top width=21.067><P>&nbsp;</P></TD><TD valign=top width=90><P style="margin:0px; padding-right:-7.2px" align=right>693,870</P>
</TD></TR>
<TR><TD valign=bottom width=29.2 colspan=2><P>&nbsp;</P></TD><TD valign=top width=219.533 colspan=3><P>&nbsp;</P></TD><TD valign=top width=183.733><P style="line-height:14pt; margin:0px; text-indent:16px; font-size:12pt" align=center>16</P>
</TD><TD valign=top width=62.4><P>&nbsp;</P></TD><TD valign=top width=61.067><P>&nbsp;</P></TD><TD valign=top width=21.067><P>&nbsp;</P></TD><TD valign=top width=90><P>&nbsp;</P></TD></TR>
<TR><TD valign=bottom width=29.2 colspan=2><P>&nbsp;</P></TD><TD valign=bottom width=219.533 colspan=3><P>&nbsp;</P></TD><TD valign=bottom width=183.733><P>&nbsp;</P></TD><TD valign=bottom width=62.4><P>&nbsp;</P></TD><TD valign=bottom width=61.067><P>&nbsp;</P></TD><TD valign=bottom width=21.067><P>&nbsp;</P></TD><TD valign=bottom width=90><P>&nbsp;</P></TD></TR>
<TR><TD valign=bottom width=667 colspan=10><P style="line-height:14pt; margin:0px; font-size:12pt" align=center>AMERISERV FINANCIAL 401(k) PROFIT SHARING PLAN</P>
</TD></TR>
<TR><TD valign=bottom width=667 colspan=10><P style="line-height:14pt; margin:0px; font-size:12pt" align=center>SCHEDULE H, LINE 4i - SCHEDULE OF ASSETS (HELD AT END OF YEAR)</P>
</TD></TR>
<TR><TD valign=bottom width=667 colspan=10><P style="line-height:14pt; margin:0px; font-size:12pt" align=center>EMPLOYER IDENTIFICATION NUMBER 25-0851535</P>
</TD></TR>
<TR><TD valign=bottom width=667 colspan=10><P style="line-height:14pt; margin:0px; font-size:12pt" align=center>PLAN NUMBER &#150; 002</P>
</TD></TR>
<TR><TD valign=bottom width=667 colspan=10><P style="line-height:14pt; margin:0px; font-size:12pt" align=center>DECEMBER 31, 2013 (continued)</P>
</TD></TR>
<TR><TD valign=bottom width=29.2 colspan=2><P>&nbsp;</P></TD><TD valign=bottom width=219.533 colspan=3><P>&nbsp;</P></TD><TD valign=bottom width=183.733><P>&nbsp;</P></TD><TD valign=bottom width=62.4><P>&nbsp;</P></TD><TD valign=bottom width=61.067><P>&nbsp;</P></TD><TD valign=bottom width=21.067><P>&nbsp;</P></TD><TD valign=bottom width=90><P>&nbsp;</P></TD></TR>
<TR><TD valign=top width=29.2 colspan=2><P style="margin:0px">(a)</P>
</TD><TD valign=top width=219.533 colspan=3><P style="margin:0px">(b) Identity of issue, borrower, lessor, </P>
</TD><TD valign=top width=183.733><P style="margin:0px">(c) Description of investment </P>
</TD><TD valign=top width=62.4><P>&nbsp;</P></TD><TD valign=top width=61.067><P style="margin:0px" align=center>(d) Cost</P>
</TD><TD valign=top width=21.067><P>&nbsp;</P></TD><TD valign=top width=90><P style="margin:0px" align=center>(e) Current </P>
</TD></TR>
<TR><TD valign=top width=29.2 colspan=2><P>&nbsp;</P></TD><TD valign=top width=219.533 colspan=3><P style="margin:0px">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;or similar party</P>
</TD><TD valign=top width=183.733><P style="margin:0px">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;including maturity date,</P>
</TD><TD valign=top width=62.4><P>&nbsp;</P></TD><TD valign=top width=61.067><P>&nbsp;</P></TD><TD valign=top width=21.067><P>&nbsp;</P></TD><TD valign=top width=90><P style="margin:0px" align=center>&nbsp;&nbsp;Value</P>
</TD></TR>
<TR><TD valign=top width=29.2 colspan=2><P>&nbsp;</P></TD><TD valign=top width=219.533 colspan=3><P>&nbsp;</P></TD><TD valign=top width=183.733><P style="margin:0px">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;rate of interest, collateral, </P>
</TD><TD valign=top width=62.4><P>&nbsp;</P></TD><TD valign=top width=61.067><P>&nbsp;</P></TD><TD valign=top width=21.067><P>&nbsp;</P></TD><TD valign=top width=90><P>&nbsp;</P></TD></TR>
<TR><TD valign=top width=29.2 colspan=2><P>&nbsp;</P></TD><TD valign=top width=219.533 colspan=3><P>&nbsp;</P></TD><TD valign=top width=183.733><P style="margin:0px">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;par or maturity value</P>
</TD><TD valign=top width=62.4><P>&nbsp;</P></TD><TD valign=top width=61.067><P>&nbsp;</P></TD><TD valign=top width=21.067><P>&nbsp;</P></TD><TD valign=top width=90><P>&nbsp;</P></TD></TR>
<TR><TD valign=top width=29.2 colspan=2><P>&nbsp;</P></TD><TD valign=top width=219.533 colspan=3><P>&nbsp;</P></TD><TD valign=top width=183.733><P>&nbsp;</P></TD><TD valign=top width=62.4><P>&nbsp;</P></TD><TD valign=top width=61.067><P>&nbsp;</P></TD><TD valign=top width=21.067><P>&nbsp;</P></TD><TD valign=top width=90><P>&nbsp;</P></TD></TR>
<TR><TD valign=bottom width=29.2 colspan=2><P>&nbsp;</P></TD><TD valign=bottom width=219.533 colspan=3><P>&nbsp;</P></TD><TD valign=bottom width=183.733><P>&nbsp;</P></TD><TD valign=bottom width=62.4><P>&nbsp;</P></TD><TD valign=bottom width=61.067><P>&nbsp;</P></TD><TD valign=bottom width=21.067><P>&nbsp;</P></TD><TD valign=bottom width=90><P>&nbsp;</P></TD></TR>
<TR><TD valign=bottom width=29.2 colspan=2><P>&nbsp;</P></TD><TD valign=top width=219.533 colspan=3><P style="margin:0px">Vanguard</P>
</TD><TD valign=top width=183.733><P style="margin:0px; text-indent:13.333px">Extended Market Index Fd</P>
</TD><TD valign=top width=62.4><P>&nbsp;</P></TD><TD valign=top width=61.067><P style="margin:0px">N/R</P>
</TD><TD valign=top width=21.067><P>&nbsp;</P></TD><TD valign=top width=90><P style="margin:0px; padding-right:-7.2px" align=right>18,067</P>
</TD></TR>
<TR><TD valign=bottom width=29.2 colspan=2><P>&nbsp;</P></TD><TD valign=top width=219.533 colspan=3><P style="margin:0px">Vanguard</P>
</TD><TD valign=top width=183.733><P style="margin:0px; text-indent:13.333px">Small Cap Index-Sig</P>
</TD><TD valign=top width=62.4><P>&nbsp;</P></TD><TD valign=top width=61.067><P style="margin:0px">N/R</P>
</TD><TD valign=top width=21.067><P>&nbsp;</P></TD><TD valign=top width=90><P style="margin:0px; padding-right:-7.2px" align=right>5,269</P>
</TD></TR>
<TR><TD valign=bottom width=29.2 colspan=2><P>&nbsp;</P></TD><TD valign=top width=219.533 colspan=3><P style="margin:0px">Vanguard</P>
</TD><TD valign=top width=183.733><P style="margin:0px; text-indent:13.333px">Institutional Index</P>
</TD><TD valign=top width=62.4><P>&nbsp;</P></TD><TD valign=top width=61.067><P style="margin:0px">N/R</P>
</TD><TD valign=top width=21.067><P>&nbsp;</P></TD><TD valign=top width=90><P style="margin:0px; padding-right:-7.2px" align=right>1,967,847</P>
</TD></TR>
<TR><TD valign=bottom width=29.2 colspan=2><P>&nbsp;</P></TD><TD valign=top width=219.533 colspan=3><P style="margin:0px">Vanguard</P>
</TD><TD valign=top width=183.733><P style="margin:0px; text-indent:13.333px">Total Bond Market Index</P>
</TD><TD valign=top width=62.4><P>&nbsp;</P></TD><TD valign=top width=61.067><P style="margin:0px">N/R</P>
</TD><TD valign=top width=21.067><P>&nbsp;</P></TD><TD valign=top width=90><P style="margin:0px; padding-right:-7.2px" align=right>47,087</P>
</TD></TR>
<TR><TD valign=bottom width=29.2 colspan=2><P>&nbsp;</P></TD><TD valign=top width=219.533 colspan=3><P style="margin:0px">Wells Fargo</P>
</TD><TD valign=top width=183.733><P style="margin:0px; text-indent:13.333px">Advantage Growth-INS</P>
</TD><TD valign=top width=62.4><P>&nbsp;</P></TD><TD valign=top width=61.067><P style="margin:0px">N/R</P>
</TD><TD valign=top width=21.067><P>&nbsp;</P></TD><TD style="border-bottom:1px solid #000000" valign=top width=90><P style="margin:0px; padding-right:-7.2px" align=right>145,017</P>
</TD></TR>
<TR><TD valign=bottom width=29.2 colspan=2><P>&nbsp;</P></TD><TD valign=top width=219.533 colspan=3><P>&nbsp;</P></TD><TD valign=top width=183.733><P>&nbsp;</P></TD><TD valign=top width=62.4><P>&nbsp;</P></TD><TD valign=top width=61.067><P>&nbsp;</P></TD><TD valign=top width=111.067 colspan=2><P>&nbsp;</P></TD></TR>
<TR><TD valign=bottom width=29.2 colspan=2><P>&nbsp;</P></TD><TD valign=top width=219.533 colspan=3><P style="margin:0px; text-indent:26.667px"><B>Total Mutual Funds</B></P>
</TD><TD valign=top width=183.733><P>&nbsp;</P></TD><TD valign=top width=62.4><P>&nbsp;</P></TD><TD valign=top width=61.067><P>&nbsp;</P></TD><TD valign=top width=21.067><P>&nbsp;</P></TD><TD style="border-bottom:1px solid #000000" valign=top width=90><P style="margin:0px; padding-right:-7.2px" align=right>8,549,525</P>
</TD></TR>
<TR><TD valign=bottom width=29.2 colspan=2><P>&nbsp;</P></TD><TD valign=top width=219.533 colspan=3><P>&nbsp;</P></TD><TD valign=top width=183.733><P>&nbsp;</P></TD><TD valign=top width=62.4><P>&nbsp;</P></TD><TD valign=top width=61.067><P>&nbsp;</P></TD><TD valign=top width=21.067><P>&nbsp;</P></TD><TD valign=top width=90><P>&nbsp;</P></TD></TR>
<TR><TD valign=bottom width=29.2 colspan=2><P>&nbsp;</P></TD><TD valign=top width=219.533 colspan=3><P style="margin:0px"><B><U>Common / Collective Funds</U></B></P>
</TD><TD valign=top width=183.733><P>&nbsp;</P></TD><TD valign=top width=62.4><P>&nbsp;</P></TD><TD valign=top width=61.067><P>&nbsp;</P></TD><TD valign=top width=21.067><P>&nbsp;</P></TD><TD valign=top width=90><P>&nbsp;</P></TD></TR>
<TR><TD valign=bottom width=29.2 colspan=2><P style="margin:0px; font-family:Calibri">*</P>
</TD><TD valign=top width=403.267 colspan=4><P style="margin:0px">Pathroad Tactical Balance Growth &amp; Income</P>
</TD><TD valign=top width=62.4><P>&nbsp;</P></TD><TD valign=top width=61.067><P style="margin:0px">N/R</P>
</TD><TD valign=top width=21.067><P>&nbsp;</P></TD><TD valign=top width=90><P style="margin:0px; padding-right:-7.2px" align=right>6,476,450</P>
</TD></TR>
<TR><TD valign=bottom width=29.2 colspan=2><P style="margin:0px; font-family:Calibri">*</P>
</TD><TD valign=top width=403.267 colspan=4><P style="margin:0px">Pathroad Tactical Capital Appreciation &amp; Income</P>
</TD><TD valign=top width=62.4><P>&nbsp;</P></TD><TD valign=top width=61.067><P style="margin:0px">N/R</P>
</TD><TD valign=top width=21.067><P>&nbsp;</P></TD><TD valign=top width=90><P style="margin:0px; padding-right:-7.2px" align=right>4,178,562</P>
</TD></TR>
<TR><TD valign=bottom width=29.2 colspan=2><P style="margin:0px; font-family:Calibri">*</P>
</TD><TD valign=top width=403.267 colspan=4><P style="margin:0px">Pathroad Conservative Fixed Income</P>
</TD><TD valign=top width=62.4><P>&nbsp;</P></TD><TD valign=top width=61.067><P style="margin:0px">N/R</P>
</TD><TD valign=top width=21.067><P>&nbsp;</P></TD><TD valign=top width=90><P style="margin:0px; padding-right:-7.2px" align=right>405,211</P>
</TD></TR>
<TR><TD valign=bottom width=29.2 colspan=2><P style="margin:0px; font-family:Calibri">*</P>
</TD><TD valign=top width=403.267 colspan=4><P style="margin:0px">Pathroad Tactical Conservative Growth &amp; Income</P>
</TD><TD valign=top width=62.4><P>&nbsp;</P></TD><TD valign=top width=61.067><P style="margin:0px">N/R</P>
</TD><TD valign=top width=21.067><P>&nbsp;</P></TD><TD valign=top width=90><P style="margin:0px; padding-right:-7.2px" align=right>2,313,157</P>
</TD></TR>
<TR><TD valign=bottom width=29.2 colspan=2><P style="margin:0px; font-family:Calibri">*</P>
</TD><TD valign=top width=403.267 colspan=4><P style="margin:0px">Pathroad Tactical Intermediate-Term Fixed Income</P>
</TD><TD valign=top width=62.4><P>&nbsp;</P></TD><TD valign=top width=61.067><P style="margin:0px">N/R</P>
</TD><TD valign=top width=21.067><P>&nbsp;</P></TD><TD valign=top width=90><P style="margin:0px; padding-right:-7.2px" align=right>521,639</P>
</TD></TR>
<TR><TD valign=bottom width=29.2 colspan=2><P style="margin:0px; font-family:Calibri">*</P>
</TD><TD valign=top width=403.267 colspan=4><P style="margin:0px">Pathroad Tactical Long-Term Equity</P>
</TD><TD valign=top width=62.4><P>&nbsp;</P></TD><TD valign=top width=61.067><P style="margin:0px">N/R</P>
</TD><TD valign=top width=21.067><P>&nbsp;</P></TD><TD valign=top width=90><P style="margin:0px; padding-right:-7.2px" align=right>2,191,703</P>
</TD></TR>
<TR><TD valign=bottom width=29.2 colspan=2><P>&nbsp;</P></TD><TD valign=top width=403.267 colspan=4><P style="margin:0px">Federated Capital Preservation</P>
</TD><TD valign=top width=62.4><P>&nbsp;</P></TD><TD valign=top width=61.067><P style="margin:0px">N/R</P>
</TD><TD valign=top width=21.067><P>&nbsp;</P></TD><TD style="border-bottom:1px solid #000000" valign=top width=90><P style="margin:0px; padding-right:-7.2px" align=right>1,600,050</P>
</TD></TR>
<TR><TD valign=bottom width=29.2 colspan=2><P>&nbsp;</P></TD><TD valign=top width=219.533 colspan=3><P>&nbsp;</P></TD><TD valign=top width=183.733><P>&nbsp;</P></TD><TD valign=top width=62.4><P>&nbsp;</P></TD><TD valign=top width=61.067><P>&nbsp;</P></TD><TD valign=top width=21.067><P>&nbsp;</P></TD><TD valign=top width=90><P>&nbsp;</P></TD></TR>
<TR><TD valign=bottom width=29.2 colspan=2><P>&nbsp;</P></TD><TD valign=top width=403.267 colspan=4><P style="margin:0px"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total Common/Collective Funds</B></P>
</TD><TD valign=top width=62.4><P>&nbsp;</P></TD><TD valign=top width=61.067><P>&nbsp;</P></TD><TD valign=top width=21.067><P>&nbsp;</P></TD><TD style="border-bottom:1px solid #000000" valign=top width=90><P style="margin:0px; padding-right:-7.2px" align=right>17,686,772</P>
</TD></TR>
<TR><TD valign=bottom width=29.2 colspan=2><P>&nbsp;</P></TD><TD valign=top width=219.533 colspan=3><P>&nbsp;</P></TD><TD valign=top width=183.733><P>&nbsp;</P></TD><TD valign=top width=62.4><P>&nbsp;</P></TD><TD valign=top width=61.067><P>&nbsp;</P></TD><TD valign=top width=21.067><P>&nbsp;</P></TD><TD valign=top width=90><P>&nbsp;</P></TD></TR>
<TR><TD valign=bottom width=29.2 colspan=2><P>&nbsp;</P></TD><TD valign=top width=403.267 colspan=4><P style="margin:0px"><B><U>Money Market Funds/Cash Equivalents/Insurance Contracts</U></B></P>
</TD><TD valign=top width=62.4><P>&nbsp;</P></TD><TD valign=top width=61.067><P>&nbsp;</P></TD><TD valign=top width=21.067><P>&nbsp;</P></TD><TD valign=top width=90><P>&nbsp;</P></TD></TR>
<TR><TD valign=bottom width=29.2 colspan=2><P>&nbsp;</P></TD><TD valign=top width=403.267 colspan=4><P style="margin:0px">Goldman Sachs Financial Prime Obligations</P>
</TD><TD valign=top width=62.4><P>&nbsp;</P></TD><TD valign=top width=61.067><P style="margin:0px">N/R</P>
</TD><TD valign=top width=21.067><P>&nbsp;</P></TD><TD valign=top width=90><P style="margin:0px; padding-right:-7.2px" align=right>1,584,553</P>
</TD></TR>
<TR><TD valign=bottom width=29.2 colspan=2><P>&nbsp;</P></TD><TD valign=top width=403.267 colspan=4><P style="margin:0px">Goldman Sachs Financial Treasury Obligations</P>
</TD><TD valign=top width=62.4><P>&nbsp;</P></TD><TD valign=top width=61.067><P style="margin:0px">N/R</P>
</TD><TD valign=top width=21.067><P>&nbsp;</P></TD><TD valign=top width=90><P style="margin:0px; padding-right:-7.2px" align=right>274,007</P>
</TD></TR>
<TR><TD valign=bottom width=29.2 colspan=2><P>&nbsp;</P></TD><TD valign=top width=219.533 colspan=3><P style="margin:0px">Annuity Contracts</P>
</TD><TD valign=top width=183.733 rowspan=2><P>&nbsp;</P></TD><TD valign=top width=62.4><P>&nbsp;</P></TD><TD valign=top width=61.067><P style="margin:0px">N/R</P>
</TD><TD valign=top width=21.067><P>&nbsp;</P></TD><TD style="border-bottom:1px solid #000000" valign=top width=90><P style="margin:0px; padding-right:-7.2px" align=right>918,318</P>
</TD></TR>
<TR><TD valign=bottom width=29.2 colspan=2><P>&nbsp;</P></TD><TD valign=top width=219.533 colspan=3><P>&nbsp;</P></TD><TD valign=top width=62.4><P>&nbsp;</P></TD><TD valign=top width=61.067><P>&nbsp;</P></TD><TD valign=top width=21.067><P>&nbsp;</P></TD><TD valign=top width=90><P>&nbsp;</P></TD></TR>
<TR><TD valign=bottom width=29.2 colspan=2><P>&nbsp;</P></TD><TD valign=top width=465.667 colspan=5><P style="margin:0px"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total Money Market Funds/Cash Equivalents/Insurance Contracts</B></P>
</TD><TD valign=top width=61.067><P>&nbsp;</P></TD><TD valign=top width=21.067><P>&nbsp;</P></TD><TD style="border-bottom:1px solid #000000" valign=top width=90><P style="margin:0px; padding-right:-7.2px" align=right>2,776,878</P>
</TD></TR>
<TR><TD valign=bottom width=29.2 colspan=2><P>&nbsp;</P></TD><TD valign=top width=219.533 colspan=3><P>&nbsp;</P></TD><TD valign=top width=183.733><P>&nbsp;</P></TD><TD valign=top width=62.4><P>&nbsp;</P></TD><TD valign=top width=61.067><P>&nbsp;</P></TD><TD valign=top width=21.067><P>&nbsp;</P></TD><TD valign=top width=90><P>&nbsp;</P></TD></TR>
<TR><TD valign=bottom width=248.733 colspan=5><P style="margin:0px; font-family:Calibri"><B>* &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B><FONT style="font-family:Times New Roman"><B><U>Participant Loans</U></B></FONT></P>
</TD><TD valign=top width=183.733><P>&nbsp;</P></TD><TD valign=top width=62.4><P>&nbsp;</P></TD><TD style="border-bottom:1px solid #000000" valign=top width=61.067><P style="margin:0px" align=right>-</P>
</TD><TD valign=top width=21.067><P>&nbsp;</P></TD><TD style="border-bottom:1px solid #000000" valign=top width=90><P style="margin:0px; padding-right:-7.2px" align=right>336,859</P>
</TD></TR>
<TR><TD valign=bottom width=29.2 colspan=2><P>&nbsp;</P></TD><TD valign=top width=134.4 colspan=2><P>&nbsp;</P></TD><TD valign=top width=268.867 colspan=2><P style="margin:0px">Interest rates ranging from 2.89% to 13.24% </P>
</TD><TD valign=top width=62.4><P>&nbsp;</P></TD><TD valign=top width=61.067><P>&nbsp;</P></TD><TD valign=top width=21.067><P>&nbsp;</P></TD><TD valign=top width=90><P>&nbsp;</P></TD></TR>
<TR><TD valign=bottom width=29.2 colspan=2><P>&nbsp;</P></TD><TD valign=top width=134.4 colspan=2><P>&nbsp;</P></TD><TD valign=top width=331.267 colspan=3><P style="margin:0px">Maturity dates ranging from 9/30/14 to 11/15/18</P>
<P style="margin:0px"><BR></P>
</TD><TD valign=top width=61.067><P>&nbsp;</P></TD><TD valign=top width=21.067><P>&nbsp;</P></TD><TD valign=top width=90><P>&nbsp;</P></TD></TR>
<TR><TD valign=bottom width=29.2 colspan=2><P>&nbsp;</P></TD><TD valign=top width=219.533 colspan=3><P style="margin:0px"><B>Total</B></P>
</TD><TD valign=top width=183.733><P>&nbsp;</P></TD><TD valign=top width=62.4><P>&nbsp;</P></TD><TD valign=top width=61.067><P>&nbsp;</P></TD><TD valign=top width=21.067><P style="margin:0px" align=right>$</P>
</TD><TD style="border-bottom:3px double #000000" valign=top width=90><P style="margin:0px; padding-right:-7.2px" align=right>30,151,573</P>
</TD></TR>
<TR><TD valign=bottom width=29.2 colspan=2><P>&nbsp;</P></TD><TD valign=bottom width=219.533 colspan=3><P>&nbsp;</P></TD><TD valign=bottom width=183.733><P>&nbsp;</P></TD><TD valign=bottom width=62.4><P>&nbsp;</P></TD><TD valign=bottom width=61.067><P>&nbsp;</P></TD><TD valign=bottom width=21.067><P>&nbsp;</P></TD><TD valign=bottom width=90><P>&nbsp;</P></TD></TR>
<TR><TD valign=bottom width=248.733 colspan=5><P style="margin:0px">* Party-in-Interest</P>
</TD><TD valign=bottom width=183.733><P>&nbsp;</P></TD><TD valign=bottom width=62.4><P>&nbsp;</P></TD><TD valign=bottom width=61.067><P>&nbsp;</P></TD><TD valign=bottom width=21.067><P>&nbsp;</P></TD><TD valign=bottom width=90><P>&nbsp;</P></TD></TR>
<TR><TD valign=bottom width=248.733 colspan=5><P style="margin:0px">N/R &#150; Not Required</P>
</TD><TD valign=bottom width=183.733><P>&nbsp;</P></TD><TD valign=bottom width=62.4><P>&nbsp;</P></TD><TD valign=bottom width=61.067><P>&nbsp;</P></TD><TD valign=bottom width=21.067><P>&nbsp;</P></TD><TD valign=bottom width=90><P>&nbsp;</P></TD></TR>
<TR><TD valign=top width=14.933><P>&nbsp;</P></TD><TD valign=top width=652.067 colspan=9><P>&nbsp;</P></TD></TR>
<TR><TD valign=top width=14.933><P>&nbsp;</P></TD><TD valign=top width=652.067 colspan=9><P style="line-height:14pt; margin:0px; font-size:12pt" align=center>17</P>
</TD></TR>
</TABLE>
<P style="margin-top:0px; margin-bottom:16px" align=center><BR></P>
<P style="line-height:14pt; margin-top:0px; margin-bottom:16px; font-size:12pt" align=center><B><U>SIGNATURES</U></B></P>
<P style="line-height:14pt; margin-top:0px; margin-bottom:16px; text-indent:48px; font-size:12pt" align=justify>Pursuant to the requirements of the Securities Exchange Act of 1934, the Trustees of the AmeriServ Financial 401(k) Profit Sharing Plan have duly caused this annual report to be signed on its behalf by the undersigned thereunto duly authorized.</P>
<P style="line-height:14pt; margin-top:0px; margin-bottom:-18.667px; font-size:12pt" align=justify>Dated: &nbsp;June 17, 2014</P>
<P style="line-height:14pt; margin:0px; text-indent:240px; font-size:12pt" align=justify>AmeriServ Financial 401(k) Profit Sharing Plan</P>
<P style="line-height:14pt; margin:0px; text-indent:288px; font-size:12pt" align=justify>AmeriServ Trust and Financial</P>
<P style="line-height:14pt; margin:0px; text-indent:288px; font-size:12pt" align=justify>Services Company, as Trustee</P>
<P style="margin:0px" align=justify><BR></P>
<P style="line-height:14pt; margin:0px; padding-left:288px; font-size:12pt" align=justify>By &nbsp;/s/David M. Margetan</P>
<P style="line-height:14pt; margin:0px; padding-left:288px; text-indent:24px; font-size:12pt" align=justify>David M. Margetan, Vice President</P>
<P style="line-height:14pt; margin:0px; padding-left:288px; text-indent:24px; font-size:12pt" align=justify>Assistant Manager Retirement Services</P>
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<P style="line-height:14pt; margin-top:0px; margin-bottom:16px; font-size:12pt" align=center><B><U>Exhibit Index</U></B></P>
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<P style="line-height:14pt; margin-top:0px; margin-bottom:-18.667px; padding-left:72px; text-indent:-48px; font-size:12pt" align=justify>1.</P>
<P style="line-height:14pt; margin-top:0px; margin-bottom:16px; padding-left:72px; font-size:12pt" align=justify>Consent of S. R. Snodgrass, P.C.</P>
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<P style="line-height:14pt; margin-top:0px; margin-bottom:16px; font-size:12pt" align=center>19</P>
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<P style="line-height:14pt; margin-top:0px; margin-bottom:16px; font-size:12pt">Exhibit 1</P>
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<P style="line-height:14pt; margin:0px; font-size:12pt" align=justify><B>CONSENT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM</B></P>
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<P style="margin:0px; font-size:11pt" align=justify>Trustees of AmeriServ Financial 401(k) Profit Sharing Plan</P>
<P style="margin:0px; font-size:11pt" align=justify>Johnstown, Pennsylvania</P>
<P style="margin:0px">&nbsp;</P>
<P style="line-height:13pt; margin:0px; font-size:11pt" align=justify>We consent to the incorporation by reference in the Registration Statement Nos. 033-53935, 033-55845, 033-55207, 033-55211, 333-67600, and 333-176869 on Form S-8 of AmeriServ Financial, Inc. of our report dated June 17, 2014, relating to our audits of the financial statements and supplemental schedules, which appear in this Annual Report on Form 11-K of the AmeriServ Financial 401(k) Profit Sharing Plan for the year ended December 31, 2013.</P>
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<P style="line-height:14pt; margin-top:0px; margin-bottom:16px; font-size:12pt">/s/S.R. Snodgrass, P.C.</P>
<P style="margin:0px; font-size:11pt" align=justify>Wexford, Pennsylvania</P>
<P style="margin:0px; font-size:11pt" align=justify>June 17, 2014</P>
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