<SEC-DOCUMENT>0000707605-18-000008.txt : 20180124
<SEC-HEADER>0000707605-18-000008.hdr.sgml : 20180124
<ACCEPTANCE-DATETIME>20180124092111
ACCESSION NUMBER:		0000707605-18-000008
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20180124
ITEM INFORMATION:		Other Events
FILED AS OF DATE:		20180124
DATE AS OF CHANGE:		20180124

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:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-11204
		FILM NUMBER:		18544165

	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>
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<TYPE>8-K
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<FILENAME>div01188k.htm
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<TITLE>Converted by EDGARwiz</TITLE>
<META NAME="author" CONTENT="Layton, William">
<META NAME="date" CONTENT="2018-01-22T20:06:00Z">
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<BODY style="margin-top:0;font-family:'Times New Roman'; font-size:10pt; color:#000000">
<DIV style="width:624px"><P style="margin:0px; font-size:18pt"><B>UNITED STATES</B></P>
<P style="margin:0px; font-size:18pt"><B>SECURITIES AND EXCHANGE COMMISSION</B></P>
<P style="margin:0px"><B>Washington, D.C. &nbsp;20549</B></P>
<P style="margin:0px"><BR></P>
<P style="margin:0px">&#160;</P>
<P style="margin:0px; font-size:18pt"><B>FORM 8-K</B></P>
<P style="margin:0px">&#160;</P>
<P style="margin:0px; font-size:12pt"><B>CURRENT REPORT</B></P>
<P style="margin:0px">&#160;</P>
<P style="margin:0px; font-size:12pt"><B>Pursuant to Section 13 or 15(d) of</B></P>
<P style="margin:0px; font-size:12pt"><B>The Securities Exchange Act of 1934</B></P>
<P style="margin:0px">&#160;</P>
<P style="margin:0px"><B>January 24, 2018</B></P>
<P style="margin:0px">Date of Report (Date of earliest event reported)</P>
<P style="margin:0px">&#160;</P>
<P style="margin:0px; font-size:18pt"><B>AMERISERV FINANCIAL, INC.</B></P>
<P style="margin:0px">(Exact name of registrant as specified in its charter)</P>
<P style="margin:0px">&#160;</P>
</DIV><TABLE style="margin-top:0px; font-size:10pt" cellpadding=0 cellspacing=0><TR height=0 style="font-size:0"><TD width=230 /><TD width=14 /><TD width=230 /><TD width=1 /><TD width=13 /><TD width=1 /><TD width=229 /><TD width=1 /><TD width=1 /></TR>
<TR><TD style="margin-top:0px; padding:0px" width=230><P style="margin:0px"><BR></P>
</TD><TD style="margin-top:0px; padding:0px" width=14><P style="margin:0px"><BR></P>
</TD><TD style="margin-top:0px; padding:0px" width=230><P style="margin:0px"><BR></P>
</TD><TD style="margin-top:0px; padding:0px" width=14 colspan=2><P style="margin:0px"><BR></P>
</TD><TD style="margin-top:0px; padding:0px" width=230 colspan=2><P style="margin:0px"><BR></P>
</TD><TD style="margin-top:0px; padding:0px" width=2 colspan=2><P style="margin:0px">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px; padding:0px" valign=top width=230><P style="margin:0px" align=center><B>Pennsylvania</B></P>
</TD><TD style="margin-top:0px; padding:0px" valign=bottom width=14><P style="margin:0px; font-size:1pt">&#160;</P>
</TD><TD style="margin-top:0px; padding:0px" valign=top width=230><P style="margin:0px" align=center><B>0-11204</B></P>
</TD><TD style="margin-top:0px; padding:0px" valign=bottom width=14 colspan=2><P style="margin:0px; font-size:1pt">&#160;</P>
</TD><TD style="margin-top:0px; padding:0px" valign=top width=230 colspan=2><P style="margin:0px" align=center><B>25-1424278</B></P>
</TD><TD style="margin-top:0px; padding:0px" valign=top width=2 colspan=2><P style="margin:0px">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px; padding:0px" valign=top width=230><P style="margin:0px" align=center>(State or other jurisdiction</P>
<P style="margin:0px" align=center>of incorporation)</P>
</TD><TD style="margin-top:0px; padding:0px" valign=bottom width=14><P style="margin:0px; font-size:1pt">&#160;</P>
</TD><TD style="margin-top:0px; padding:0px" valign=top width=230><P style="margin:0px" align=center>(Commission</P>
<P style="margin:0px" align=center>File Number)</P>
</TD><TD style="margin-top:0px; padding:0px" valign=bottom width=14 colspan=2><P style="margin:0px; font-size:1pt">&#160;</P>
</TD><TD style="margin-top:0px; padding:0px" valign=top width=230 colspan=2><P style="margin:0px" align=center>(IRS Employer</P>
<P style="margin:0px" align=center>Ident. No.)</P>
</TD><TD style="margin-top:0px; padding:0px" valign=top width=2 colspan=2><P style="margin:0px">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px; padding:0px" valign=top width=230><P style="margin:0px" align=center>&#160;</P>
</TD><TD style="margin-top:0px; padding:0px" valign=bottom width=14><P style="margin:0px">&#160;</P>
</TD><TD style="margin-top:0px; padding:0px" valign=top width=230><P style="margin:0px" align=center>&#160;</P>
</TD><TD style="margin-top:0px; padding:0px" valign=bottom width=14 colspan=2><P style="margin:0px">&#160;</P>
</TD><TD style="margin-top:0px; padding:0px" valign=top width=230 colspan=2><P style="margin:0px" align=center>&#160;</P>
</TD><TD style="margin-top:0px; padding:0px" valign=top width=2 colspan=2><P style="margin:0px">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px; padding:0px" valign=top width=475 colspan=4><P style="margin:0px" align=center><B>Main and Franklin Streets, Johnstown, Pennsylvania</B></P>
</TD><TD style="margin-top:0px; padding:0px" valign=bottom width=14 colspan=2><P style="margin:0px; font-size:1pt">&#160;</P>
</TD><TD style="margin-top:0px; padding:0px" valign=top width=230 colspan=2><P style="margin:0px" align=center><B>15901</B></P>
</TD><TD style="margin-top:0px; padding:0px" valign=top width=0.933 colspan=2><P style="margin:0px">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px; padding:0px" valign=top width=475 colspan=4><P style="margin:0px" align=center>(Address of principal executive offices)</P>
</TD><TD style="margin-top:0px; padding:0px" valign=bottom width=14 colspan=2><P style="margin:0px; font-size:1pt">&#160;</P>
</TD><TD style="margin-top:0px; padding:0px" valign=top width=230 colspan=2><P style="margin:0px" align=center>(Zip Code)</P>
</TD><TD style="margin-top:0px; padding:0px" valign=top width=0.933 colspan=2><P style="margin:0px">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px; padding:0px" valign=top width=720 colspan=9><P style="margin:0px" align=center>&#160;</P>
</TD></TR>
<TR><TD style="margin-top:0px; padding:0px" valign=top width=720 colspan=9><P style="margin:0px" align=center><B>(814) 533-5300</B></P>
<P style="margin:0px" align=center>Registrant<font style="font-family:'Arial Unicode MS,Times New Roman'">&#8217;</font>s telephone number, including area code</P>
</TD></TR>
<TR><TD style="margin-top:0px; padding:0px" valign=top width=720 colspan=9><P style="margin:0px" align=center>&#160;</P>
</TD></TR>
<TR><TD style="margin-top:0px; padding:0px" valign=top width=720 colspan=9><P style="margin:0px" align=center><B>N/A</B></P>
</TD></TR>
<TR><TD style="margin-top:0px; padding:0px" valign=top width=720 colspan=9><P style="margin:0px" align=center>(Former name or former address, if changed since last report.)</P>
</TD></TR>
</TABLE>
<DIV style="width:624px"><P style="margin:0px"><BR></P>
<P style="margin:0px">&#160;</P>
<P style="margin:0px">Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:</P>
<P style="margin:0px">&#160;</P>
<P style="margin:0px; font-family:'Wingdings'">o<FONT style="font-family:'Times New Roman'"> Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)</FONT></P>
<P style="margin:0px">&#160;</P>
<P style="margin:0px; font-family:'Wingdings'">o<FONT style="font-family:'Times New Roman'"> Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)</FONT></P>
<P style="margin:0px">&#160;</P>
<P style="margin:0px; font-family:'Wingdings'">o<FONT style="font-family:'Times New Roman'"> Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</FONT></P>
<P style="margin:0px">&#160;</P>
<P style="margin:0px; font-family:'Wingdings'">o<FONT style="font-family:'Times New Roman'"> Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4 (c))</FONT></P>
<P style="margin:0px">&#160;</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px" align=center>&#160;</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; padding-top:4px; border-top:1px solid #7F0000"><BR></P>
<P style="margin:0px"><BR></P>
<P style="margin-top:0px; margin-bottom:13.333px"><BR>
<BR>
<BR>
<BR></P>
<P style="margin-top:0px; margin-bottom:13.333px"><BR>
<BR></P>
<P style="margin-top:0px; margin-bottom:13.333px; page-break-before:always"><B>Item 8.01 &nbsp;&nbsp;&nbsp;&nbsp;Other Events.</B></P>
<P style="margin-top:0px; margin-bottom:11.133px; padding-right:54px; text-indent:48px" align=justify>On January 24, 2018, AmeriServ Financial, Inc. issued a press release announcing that its Board of Directors had declared a cash dividend of $0.015 per share quarterly common stock cash dividend. &nbsp;The cash dividend is payable February 20, 2018 to shareholders of record on February 5, 2018. &nbsp;This cash dividend represents an approximate 1.5% annualized yield using the January 19, 2018 closing common stock price of $4.05. &nbsp;</P>
<P style="margin-top:0px; margin-bottom:11.133px; padding-right:54px; text-indent:48px" align=justify>The press release, attached hereto as Exhibit 99.1, is incorporated herein.</P>
<P style="margin-top:0px; margin-bottom:11.133px"><B>Item 9.01 &nbsp;&nbsp;&nbsp;Financial Statements and Exhibits.</B></P>
<P style="margin:0px; text-indent:-2px">Exhibits:</P>
<P style="margin:0px">&#160;</P>
<P style="margin:0px">99.1</P>
<P style="margin:0px; text-indent:-2px">Press release, dated January 24,<FONT style="font-family:'inherit,Times New Roman,Times New Roman'"> 201</FONT><FONT style="font-family:'inherit,Times New Roman,Times New Roman'">8</FONT> of AmeriServ Financial, Inc. </P>
<P style="margin:0px"><BR></P>
<P style="margin:0px" align=center>&#160;</P>
<P style="margin:0px" align=center><U>SIGNATURES</U></P>
<P style="margin:0px">&#160;</P>
<P style="margin:0px; text-indent:48px">Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.</P>
<P style="margin:0px">&#160;</P>
</DIV><TABLE style="margin-top:0px; font-size:10pt" cellpadding=0 cellspacing=0><TR height=0 style="font-size:0"><TD width=426 /><TD width=34 /><TD width=11 /><TD width=197 /><TD width=50 /><TD width=1 /></TR>
<TR><TD style="margin-top:0px; padding:0px" width=426><P style="margin:0px"><BR></P>
</TD><TD style="margin-top:0px; padding:0px" width=34><P style="margin:0px"><BR></P>
</TD><TD style="margin-top:0px; padding:0px" width=11><P style="margin:0px"><BR></P>
</TD><TD style="margin-top:0px; padding:0px" width=197><P style="margin:0px"><BR></P>
</TD><TD style="margin-top:0px; padding:0px" width=50><P style="margin:0px"><BR></P>
</TD><TD style="margin-top:0px; padding:0px" width=1><P style="margin:0px">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px; padding:0px" valign=top width=426><P style="margin:0px; font-size:1pt">&#160;</P>
</TD><TD style="margin-top:0px; padding:0px" valign=top width=293 colspan=5><P style="margin:0px">AMERISERV FINANCIAL, INC.</P>
</TD></TR>
<TR><TD style="margin-top:0px; padding:0px" valign=top width=426><P style="margin:0px">&#160;</P>
</TD><TD style="margin-top:0px; padding:0px" valign=top width=34><P style="margin:0px">&#160;</P>
</TD><TD style="margin-top:0px; padding:0px" valign=top width=259 colspan=4><P style="margin:0px">&#160;</P>
</TD></TR>
<TR><TD style="margin-top:0px; padding:0px" valign=top width=426><P style="margin:0px; font-size:1pt">&#160;<FONT style="font-size:10pt">Dated: &nbsp;</FONT><FONT style="font-size:10pt">January</FONT><FONT style="font-size:10pt"> </FONT><FONT style="font-size:10pt">24</FONT><FONT style="font-size:10pt">, 201</FONT><FONT style="font-size:10pt">8</FONT></P>
</TD><TD style="margin-top:0px; padding:0px" valign=top width=34><P style="margin:0px">By:</P>
</TD><TD style="margin-top:0px; padding:0px; border-bottom:1px solid #000000" valign=top width=208 colspan=2><P style="margin:0px">/s/ &nbsp;Michael D. Lynch</P>
</TD><TD style="margin-top:0px; padding:0px" valign=top width=50><P style="margin:0px; font-size:1pt">&#160;</P>
</TD><TD style="margin-top:0px; padding:0px" valign=top width=1><P style="margin:0px; font-size:1pt">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px; padding:0px" valign=top width=426><P style="margin:0px; font-size:1pt">&#160;</P>
</TD><TD style="margin-top:0px; padding:0px" valign=top width=34><P style="margin:0px; font-size:1pt">&#160;</P>
</TD><TD style="margin-top:0px; padding:0px" valign=top width=11><P style="margin:0px; font-size:1pt">&#160;</P>
</TD><TD style="margin-top:0px; padding:0px" valign=top width=247 colspan=2><P style="margin:0px">Michael D. Lynch</P>
</TD><TD style="margin-top:0px; padding:0px" valign=top width=230 colspan=2><P style="margin:0px">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px; padding:0px" valign=top width=426><P style="margin:0px; font-size:1pt">&#160;</P>
</TD><TD style="margin-top:0px; padding:0px" valign=top width=34><P style="margin:0px; font-size:1pt">&#160;</P>
</TD><TD style="margin-top:0px; padding:0px" valign=top width=11><P style="margin:0px; font-size:1pt">&#160;</P>
</TD><TD style="margin-top:0px; padding:0px" valign=top width=247 colspan=2><P style="margin:0px">Senior Vice President and<BR>
Chief Financial Officer</P>
</TD><TD style="margin-top:0px; padding:0px" valign=top width=230 colspan=2><P style="margin:0px">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px; padding:0px" width=426><P style="margin:0px; font-size:8pt">&#160;</P>
</TD><TD style="margin-top:0px; padding:0px" width=34><P style="margin:0px; font-size:8pt">&#160;</P>
</TD><TD style="margin-top:0px; padding:0px" width=11><P style="margin:0px; font-size:8pt">&#160;</P>
</TD><TD style="margin-top:0px; padding:0px" width=197><P style="margin:0px; font-size:8pt">&#160;</P>
</TD><TD style="margin-top:0px; padding:0px" width=50><P style="margin:0px; font-size:8pt">&#160;</P>
</TD><TD style="margin-top:0px; padding:0px" width=1><P style="margin:0px; font-size:8pt">&nbsp;</P></TD></TR>
</TABLE>
<DIV style="width:624px"><P style="margin:0px"><BR></P>
<P style="margin-top:0px; margin-bottom:13.333px"><BR>
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<P style="margin:0px" align=center>&#160;</P>
<P style="margin:0px" align=center>EXHIBIT INDEX</P>
<P style="margin:0px">&#160;</P>
</DIV><TABLE style="margin-top:0px; font-size:10pt" cellpadding=0 cellspacing=0><TR height=0 style="font-size:0"><TD width=100 /><TD width=14 /><TD width=597 /></TR>
<TR><TD style="margin-top:0px; padding:0px" width=100><P style="margin:0px"><BR></P>
</TD><TD style="margin-top:0px; padding:0px" width=14><P style="margin:0px"><BR></P>
</TD><TD style="margin-top:0px; padding:0px" width=597><P style="margin:0px"><BR></P>
</TD></TR>
<TR><TD style="margin-top:0px; padding:0px; border-bottom:1px solid #000000" valign=top width=100><P style="margin:0px" align=center>Exhibit Number</P>
</TD><TD style="margin-top:0px; padding:0px" valign=bottom width=14><P style="margin:0px; font-size:1pt">&#160;</P>
</TD><TD style="margin-top:0px; padding:0px; border-bottom:1px solid #000000" valign=top width=597><P style="margin:0px" align=center>Description</P>
</TD></TR>
<TR><TD style="margin-top:0px; padding:0px" valign=top width=100><P style="margin:0px">&#160;</P>
</TD><TD style="margin-top:0px; padding:0px" valign=bottom width=14><P style="margin:0px">&#160;</P>
</TD><TD style="margin-top:0px; padding:0px" valign=top width=597><P style="margin:0px">&#160;</P>
</TD></TR>
<TR><TD style="margin-top:0px; padding:0px" valign=top width=100><P style="margin:0px" align=center>99.1</P>
</TD><TD style="margin-top:0px; padding:0px" valign=bottom width=14><P style="margin:0px; font-size:1pt">&#160;</P>
</TD><TD style="margin-top:0px; padding:0px" valign=top width=597><P style="margin:0px">Press release, dated January 24<FONT style="font-family:'inherit,Times New Roman,Times New Roman'">, 201</FONT><FONT style="font-family:'inherit,Times New Roman,Times New Roman'">8</FONT>, of AmeriServ Financial, Inc.</P>
</TD></TR>
<TR><TD style="margin-top:0px; padding:0px" valign=top width=100><P style="margin:0px">&#160;</P>
</TD><TD style="margin-top:0px; padding:0px" valign=bottom width=14><P style="margin:0px; font-size:1pt">&#160;</P>
</TD><TD style="margin-top:0px; padding:0px" valign=top width=597><P style="margin:0px">&#160;</P>
</TD></TR>
</TABLE>
<DIV style="width:624px"><P style="margin:0px"><BR></P>
<P style="margin:0px" align=center>&#160;</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; padding-top:4px; border-top:1px solid #7F0000"><BR></P>
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<P style="margin-top:2.2px; margin-bottom:13.333px" align=center><BR>
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<P style="margin-top:2.667px; margin-bottom:0px" align=center><BR></P>
<P style="margin-top:11.133px; margin-bottom:0px"><B>Exhibit 99.1</B></P>
<P style="margin:0px; padding-left:31.667px; padding-right:-18px; font-size:12pt" align=center><B>AMERISERV FINANCIAL, INC. ANNOUNCES QUARTERLY</B></P>
<P style="margin:0px; padding-left:31.667px; padding-right:-18px; font-size:12pt" align=center><B>COMMON STOCK CASH DIVIDEND</B></P>
<P style="margin:0px" align=center><BR></P>
<P style="margin:0px" align=justify><BR></P>
<P style="margin:0px; padding-left:48px; padding-right:-18px; text-indent:48px" align=justify>JOHNSTOWN, PA <font style="font-family:'Arial Unicode MS,Times New Roman'">&#8211;</font> AmeriServ Financial, Inc. (NASDAQ: ASRV) announced that its Board of Directors declared a $0.015 per share quarterly common stock cash dividend. &nbsp;The cash dividend is payable February 20, 2018 to shareholders of record on February 5, 2018. &nbsp;This cash dividend represents an approximate 1.5% annualized yield using the January 19, 2018 closing common stock price of $4.05. &nbsp;For the full year 2017, the Company<font style="font-family:'Arial Unicode MS,Times New Roman'">&#8217;</font>s common stock dividend payout ratio approximated 33% based upon the reported 2017 EPS of $0.18. &nbsp;Note that the Company<font style="font-family:'Arial Unicode MS,Times New Roman'">&#8217;</font>s 2017 earnings were negatively impacted by a previously disclosed $2.6 million charge to revalue its deferred tax asset which reduced 2017 EPS by $0.14. &nbsp;The Company<font style="font-family:'Arial Unicode MS,Times New Roman'">&#8217;</font>s 2017 dividend payout ratio, adjusted for this tax related charge, would have approximated of 19%. &nbsp;&nbsp;&nbsp;&nbsp;</P>
<P style="margin:0px" align=justify><BR></P>
<P style="margin:0px; padding-left:48px; padding-right:-18px; text-indent:48px" align=justify>&nbsp;AmeriServ Financial, Inc. is the parent of AmeriServ Financial Bank and AmeriServ Trust and Financial Services Company in Johnstown. &nbsp;The Company<font style="font-family:'Arial Unicode MS,Times New Roman'">&#8217;</font>s subsidiaries provide full-service banking and trust and wealth management services through fifteen community offices in southwestern Pennsylvania. &nbsp;At December 31, 2017, AmeriServ had total assets of $1.17 billion, a book value of $5.25 per common share and a tangible book value of $4.59 per common share. &nbsp;</P>
<P style="margin:0px" align=justify><BR></P>
<P style="margin:0px; padding-left:48px; padding-right:-18.267px" align=justify><B>Forward-Looking Statements</B> </P>
<P style="margin-top:5.533px; margin-bottom:5.533px; padding-left:48px; padding-right:-18.267px" align=justify>This news release contains forward-looking statements as defined in the Securities Exchange Act of 1934 and is subject to the safe harbors created therein. The forward-looking statements contained herein include, but are not limited to, information regarding AmeriServ's dividend program and future payment obligations. These forward-looking statements involve risks and uncertainties that could cause AmeriServ's results to differ materially from management's current expectations. Such risks and uncertainties are detailed in AmeriServ's filings with the Securities and Exchange Commission, including our Annual Report on Form 10-K for the year ended December 31, 2016. Forward-looking statements are based on the beliefs and assumptions of AmeriServ's management and on currently available information. The statements in this press release are made as of the date of this press release, even if subsequently made available by AmeriServ on its website or otherwise. AmeriServ undertakes no responsibility to publicly update or revise any forward-looking statement. </P>
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