<SEC-DOCUMENT>0000707605-18-000032.txt : 20180419
<SEC-HEADER>0000707605-18-000032.hdr.sgml : 20180419
<ACCEPTANCE-DATETIME>20180419161524
ACCESSION NUMBER:		0000707605-18-000032
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20180419
ITEM INFORMATION:		Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers
FILED AS OF DATE:		20180419
DATE AS OF CHANGE:		20180419

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:		18763944

	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>8-K
<SEQUENCE>1
<FILENAME>asrvform8kre2017earbonus.htm
<DESCRIPTION>BOARD OF DIRECTORS APPROVES PAYOUTS UNDER EXECUTIVE AT-RISK INCENTIVE COMPENSATION PLAN FOR 2017
<TEXT>
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<HEAD>
<TITLE>Converted by EDGARwiz</TITLE>
<META NAME="date" CONTENT="2018-04-19T14:59:00Z">
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<BODY style="margin-top:0;font-family:'Times New Roman'; font-size:10pt; color:#000000">
<DIV style="width:720px"><P style="margin:0px"><BR></P>
<P style="margin:0px; font-size:18pt" align=center><B>UNITED STATES</B></P>
<P style="margin:0px; font-size:18pt" align=center><B>SECURITIES AND EXCHANGE COMMISSION</B></P>
<P style="margin:0px; font-size:12pt" align=center><B>Washington, D.C.&#160; 20549</B></P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-size:12pt" align=center>&#160;</P>
<P style="margin:0px; font-size:18pt" align=center><B>FORM 8-K</B></P>
<P style="margin:0px; font-size:12pt" align=center>&#160;</P>
<P style="margin:0px; font-size:12pt" align=center><B>CURRENT REPORT</B></P>
<P style="margin:0px; font-size:12pt" align=center>&#160;</P>
<P style="margin:0px; font-size:12pt" align=center><B>Pursuant to Section&#160;13 or 15(d) of</B></P>
<P style="margin:0px; font-size:12pt" align=center><B>The Securities Exchange Act of 1934</B></P>
<P style="margin:0px; font-size:12pt" align=center>&#160;</P>
<P style="margin:0px; font-size:12pt" align=center><B>April 19, 2018</B></P>
<P style="margin:0px; font-size:12pt" align=center>Date of Report (Date of earliest event reported)</P>
<P style="margin:0px; font-size:12pt" align=center>&#160;</P>
<P style="margin:0px; font-size:18pt" align=center><B>AMERISERV FINANCIAL,&#160;INC.</B></P>
<P style="margin:0px; font-size:12pt" align=center>(Exact name of registrant as specified in its charter)</P>
<P style="margin:0px; font-size:12pt">&#160;</P>
<TABLE style="margin-top:0px; font-size:10pt" cellpadding=0 cellspacing=0><TR height=0 style="font-size:0"><TD width=230.4 /><TD width=14.4 /><TD width=230.4 /><TD width=14.333 /><TD width=230.333 /><TD width=0.133 /></TR>
<TR><TD style="margin-top:0px; padding:0px" valign=top width=230.4><P style="margin:0px; font-size:12pt" align=center><B>Pennsylvania</B></P>
</TD><TD style="margin-top:0px; padding:0px" valign=bottom width=14.4><P style="margin:0px"><BR></P>
</TD><TD style="margin-top:0px; padding:0px" valign=top width=230.4><P style="margin:0px; font-size:12pt" align=center><B>0-11204</B></P>
</TD><TD style="margin-top:0px; padding:0px" valign=bottom width=14.333><P style="margin:0px"><BR></P>
</TD><TD style="margin-top:0px; padding:0px" valign=top width=230.333><P style="margin:0px; font-size:12pt" align=center><B>25-1424278</B></P>
</TD><TD style="margin-top:0px; padding:0px" valign=top width=0.133><P style="margin:0px; font-size:12pt">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px; padding:0px" valign=top width=230.4><P style="margin:0px; font-size:12pt" align=center>(State or other jurisdiction</P>
<P style="margin:0px; font-size:12pt" align=center>of incorporation)</P>
</TD><TD style="margin-top:0px; padding:0px" valign=bottom width=14.4><P style="margin:0px"><BR></P>
</TD><TD style="margin-top:0px; padding:0px" valign=top width=230.4><P style="margin:0px; font-size:12pt" align=center>(Commission</P>
<P style="margin:0px; font-size:12pt" align=center>File Number)</P>
</TD><TD style="margin-top:0px; padding:0px" valign=bottom width=14.333><P style="margin:0px"><BR></P>
</TD><TD style="margin-top:0px; padding:0px" valign=top width=230.333><P style="margin:0px; font-size:12pt" align=center>(IRS Employer</P>
<P style="margin:0px; font-size:12pt" align=center>Ident. No.)</P>
</TD><TD style="margin-top:0px; padding:0px" valign=top width=0.133><P style="margin:0px; font-size:12pt">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px; padding:0px" valign=top width=230.4><P style="margin:0px; font-size:12pt" align=center>&#160;</P>
</TD><TD style="margin-top:0px; padding:0px" valign=bottom width=14.4><P style="margin:0px; font-size:12pt">&#160;</P>
</TD><TD style="margin-top:0px; padding:0px" valign=top width=230.4><P style="margin:0px; font-size:12pt" align=center>&#160;</P>
</TD><TD style="margin-top:0px; padding:0px" valign=bottom width=14.333><P style="margin:0px; font-size:12pt">&#160;</P>
</TD><TD style="margin-top:0px; padding:0px" valign=top width=230.333><P style="margin:0px; font-size:12pt" align=center>&#160;</P>
</TD><TD style="margin-top:0px; padding:0px" valign=top width=0.133><P style="margin:0px; font-size:12pt">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px; padding:0px" valign=top width=475.2 colspan=3><P style="margin:0px; font-size:12pt" align=center><B>Main and Franklin Streets, Johnstown, Pennsylvania</B></P>
</TD><TD style="margin-top:0px; padding:0px" valign=bottom width=14.333><P style="margin:0px"><BR></P>
</TD><TD style="margin-top:0px; padding:0px" valign=top width=230.333><P style="margin:0px; font-size:12pt" align=center><B>15901</B></P>
</TD><TD style="margin-top:0px; padding:0px" valign=top width=0.133><P style="margin:0px; font-size:12pt">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px; padding:0px" valign=top width=475.2 colspan=3><P style="margin:0px; font-size:12pt" align=center>(Address of principal executive offices)</P>
</TD><TD style="margin-top:0px; padding:0px" valign=bottom width=14.333><P style="margin:0px"><BR></P>
</TD><TD style="margin-top:0px; padding:0px" valign=top width=230.333><P style="margin:0px; font-size:12pt" align=center>(Zip Code)</P>
</TD><TD style="margin-top:0px; padding:0px" valign=top width=0.133><P style="margin:0px; font-size:12pt">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px; padding:0px" valign=top width=720 colspan=6><P style="margin:0px; font-size:12pt" align=center>&#160;</P>
</TD></TR>
<TR><TD style="margin-top:0px; padding:0px" valign=top width=720 colspan=6><P style="margin:0px; font-size:12pt" align=center><B>(814) 533-5300</B></P>
<P style="margin:0px; font-size:12pt" 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=6><P style="margin:0px; font-size:12pt" align=center>&#160;</P>
</TD></TR>
<TR><TD style="margin-top:0px; padding:0px" valign=top width=720 colspan=6><P style="margin:0px; font-size:12pt" align=center><B>N/A</B></P>
</TD></TR>
<TR><TD style="margin-top:0px; padding:0px" valign=top width=720 colspan=6><P style="margin:0px; font-size:12pt" align=center>(Former name or former address, if changed since last report.)</P>
</TD></TR>
</TABLE>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-size:12pt">&#160;</P>
<P style="margin:0px; font-size:12pt">Check the appropriate box below if the Form&#160;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; font-size:12pt">&#160;</P>
<TABLE style="margin-top:0px; font-size:10pt" cellpadding=0 cellspacing=0><TR height=0 style="font-size:0"><TD width=28.8 /><TD width=19.2 /><TD width=612 /></TR>
<TR><TD style="margin-top:0px; padding:0px" valign=top width=28.8 height=16.533><P style="margin:0px; font-family:'Wingdings'; font-size:12pt">o</P>
</TD><TD style="margin-top:0px; padding:0px" valign=bottom width=19.2 height=16.533><P style="margin:0px"><BR></P>
</TD><TD style="margin-top:0px; padding:0px" valign=top width=612 height=16.533><P style="margin:0px; font-size:12pt">Written communications pursuant to Rule&#160;425 under the Securities Act (17 CFR 230.425)</P>
</TD></TR>
<TR><TD style="margin-top:0px; padding:0px" valign=top width=28.8 height=16.533><P style="margin:0px; font-size:12pt">&#160;</P>
</TD><TD style="margin-top:0px; padding:0px" valign=bottom width=19.2 height=16.533><P style="margin:0px; font-size:12pt">&#160;</P>
</TD><TD style="margin-top:0px; padding:0px" valign=top width=612 height=16.533><P style="margin:0px; font-size:12pt">&#160;</P>
</TD></TR>
<TR><TD style="margin-top:0px; padding:0px" valign=top width=28.8 height=16.533><P style="margin:0px; font-family:'Wingdings'; font-size:12pt">o</P>
</TD><TD style="margin-top:0px; padding:0px" valign=bottom width=19.2 height=16.533><P style="margin:0px"><BR></P>
</TD><TD style="margin-top:0px; padding:0px" valign=top width=612 height=16.533><P style="margin:0px; font-size:12pt">Soliciting material pursuant to Rule&#160;14a-12 under the Exchange Act (17 CFR 240.14a-12)</P>
</TD></TR>
<TR><TD style="margin-top:0px; padding:0px" valign=top width=28.8 height=16.533><P style="margin:0px; font-size:12pt">&#160;</P>
</TD><TD style="margin-top:0px; padding:0px" valign=bottom width=19.2 height=16.533><P style="margin:0px; font-size:12pt">&#160;</P>
</TD><TD style="margin-top:0px; padding:0px" valign=top width=612 height=16.533><P style="margin:0px; font-size:12pt">&#160;</P>
</TD></TR>
<TR><TD style="margin-top:0px; padding:0px" valign=top width=28.8 height=16.533><P style="margin:0px; font-family:'Wingdings'; font-size:12pt">o</P>
</TD><TD style="margin-top:0px; padding:0px" valign=bottom width=19.2 height=16.533><P style="margin:0px"><BR></P>
</TD><TD style="margin-top:0px; padding:0px" valign=top width=612 height=16.533><P style="margin:0px; font-size:12pt">Pre-commencement communications pursuant to Rule&#160;14d-2(b)&#160;under the Exchange Act (17 CFR 240.14d-2(b))</P>
</TD></TR>
<TR><TD style="margin-top:0px; padding:0px" valign=top width=28.8 height=16.533><P style="margin:0px; font-size:12pt">&#160;</P>
</TD><TD style="margin-top:0px; padding:0px" valign=bottom width=19.2 height=16.533><P style="margin:0px; font-size:12pt">&#160;</P>
</TD><TD style="margin-top:0px; padding:0px" valign=top width=612 height=16.533><P style="margin:0px; font-size:12pt">&#160;</P>
</TD></TR>
<TR><TD style="margin-top:0px; padding:0px" valign=top width=28.8 height=16.533><P style="margin:0px; font-family:'Wingdings'; font-size:12pt">o</P>
</TD><TD style="margin-top:0px; padding:0px" valign=bottom width=19.2 height=16.533><P style="margin:0px"><BR></P>
</TD><TD style="margin-top:0px; padding:0px" valign=top width=612 height=16.533><P style="margin:0px; font-size:12pt">Pre-commencement communications pursuant to Rule&#160;13e-4(c)&#160;under the Exchange Act (17 CFR 240.13e-4 (c))</P>
</TD></TR>
<TR><TD style="margin-top:0px; padding:0px" valign=top width=28.8 height=16.533><P style="margin:0px"><BR></P>
</TD><TD style="margin-top:0px; padding:0px" valign=bottom width=19.2 height=16.533><P style="margin:0px"><BR></P>
</TD><TD style="margin-top:0px; padding:0px" valign=top width=612 height=16.533><P style="margin:0px"><BR></P>
</TD></TR>
<TR><TD style="margin-top:0px; padding:0px; border-bottom:1px solid #000000" valign=top width=660 height=16.533 colspan=3><P style="margin:0px; font-size:12pt">Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR &#167;230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR &#167;240.12b-2). </P>
<P style="margin:0px; font-size:12pt">Emerging growth company &nbsp;<FONT style="font-family:'Wingdings'">o</FONT></P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-size:12pt">If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. <FONT style="font-family:'Wingdings'">o</FONT></P>
<P style="margin:0px"><BR></P>
</TD></TR>
</TABLE>
<P style="margin-top:0px; margin-bottom:-2px; width:96px; font-size:12pt; float:left"><B>Item 5.02 &nbsp;</B></P>
<P style="margin:0px; padding-left:96px; text-indent:-2px; font-size:12pt"><B>Departure of Directors or Principal Officers; Election of Directors; Appointment of Certain Officers; Compensation of Certain Officers.</B></P>
<P style="margin-top:6.667px; margin-bottom:0px; clear:left"><BR>
<BR></P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; page-break-before:always"><BR></P>
<P style="margin-top:6.667px; margin-bottom:0px; text-indent:32.667px">On April&#160;19, 2018, the Board of Directors (the&#160;<font style="font-family:'Arial Unicode MS,Times New Roman'">&#8220;</font>Board<font style="font-family:'Arial Unicode MS,Times New Roman'">&#8221;</font>) of AmeriServ Financial,&#160;Inc. (the&#160;<font style="font-family:'Arial Unicode MS,Times New Roman'">&#8220;</font>Company<font style="font-family:'Arial Unicode MS,Times New Roman'">&#8221;</font>), based upon the recommendation of the Compensation Committee (the&#160;<font style="font-family:'Arial Unicode MS,Times New Roman'">&#8220;</font>Committee<font style="font-family:'Arial Unicode MS,Times New Roman'">&#8221;</font>) of the Board, approved payouts under the Executive At-Risk Incentive Compensation Plan for fiscal year 2017. &nbsp;These payouts were based upon having achieved an adjusted return on assets (<font style="font-family:'Arial Unicode MS,Times New Roman'">&#8220;</font>ROA<font style="font-family:'Arial Unicode MS,Times New Roman'">&#8221;</font>) of 0.51% for the year ended December&#160;31, 2017 and 61.5% of the adjusted ROA of the peer group identified in the Company<font style="font-family:'Arial Unicode MS,Times New Roman'">&#8217;</font>s proxy statement filed under Schedule&#160;14A on March&#160;15, 2018 (the&#160;<font style="font-family:'Arial Unicode MS,Times New Roman'">&#8220;</font>Proxy Statement<font style="font-family:'Arial Unicode MS,Times New Roman'">&#8221;</font>). The 2017 ROA performance for both the Company and the peer group was adjusted for the income tax charge related to the enactment of the <font style="font-family:'Arial Unicode MS,Times New Roman'">&#8220;</font>Tax Cuts and Jobs Act<font style="font-family:'Arial Unicode MS,Times New Roman'">&#8221;</font> late in the fourth quarter of 2017. &nbsp;</P>
<P style="margin-top:6.667px; margin-bottom:0px; text-indent:32.667px">All other compensation paid or earned by each of the Company<font style="font-family:'Arial Unicode MS,Times New Roman'">&#8217;</font>s Named Executive Officers for the fiscal year ended December 31, 2017 was previously reported by the Company in the Summary Compensation Table beginning on page 19 of the Proxy Statement. &nbsp;As of the filing of the Proxy Statement, payouts under the Executive At-Risk Incentive Compensation Plan had not been determined, and, therefore, were not included in the Summary Compensation Table. &nbsp;In accordance with Item 5.02(f) of Form 8-K, the Company is providing a revised Summary Compensation Table, which includes the payouts under the Executive At-Risk Incentive Compensation Plan paid to each of the Company<font style="font-family:'Arial Unicode MS,Times New Roman'">&#8217;</font>s Named Executive Officers and revised total compensation figures for 2017:</P>
<P style="margin-top:8px; margin-bottom:0px"><BR></P>
<P style="margin-top:0px; margin-bottom:16px; font-size:12pt" align=center><B>SUMMARY COMPENSATION TABLE</B></P>
<TABLE style="margin-top:0px; font-size:10pt" cellpadding=0 cellspacing=0 align=center><TR height=0 style="font-size:0"><TD width=126 /><TD width=36 /><TD width=60 /><TD width=60 /><TD width=54 /><TD width=60 /><TD width=78 /><TD width=78 /><TD width=78 /><TD width=60 /></TR>
<TR><TD style="margin-top:0px; padding-left:7.667px; padding-top:0px; padding-right:7.667px; padding-bottom:0px" valign=bottom width=126><P style="margin-top:0px; margin-bottom:2.333px; font-size:7pt; border-bottom:1px solid #000000" align=center><B>Name, Age and<BR>
Principal Position</B></P>
</TD><TD style="margin-top:0px; padding-left:7.667px; padding-top:0px; padding-right:7.667px; padding-bottom:0px" valign=bottom width=36><P style="margin-top:0px; margin-bottom:2.333px; font-size:7pt; border-bottom:1px solid #000000" align=center><B>Year</B></P>
</TD><TD style="margin-top:0px; padding-left:7.667px; padding-top:0px; padding-right:7.667px; padding-bottom:0px" valign=bottom width=60><P style="margin-top:0px; margin-bottom:2.333px; font-size:7pt; border-bottom:1px solid #000000" align=center><B>Salary<BR>
($)</B></P>
</TD><TD style="margin-top:0px; padding-left:7.667px; padding-top:0px; padding-right:7.667px; padding-bottom:0px" valign=bottom width=60><P style="margin-top:0px; margin-bottom:2.333px; font-size:7pt; border-bottom:1px solid #000000" align=center><B>Bonus<BR>
($)</B></P>
</TD><TD style="margin-top:0px; padding-left:7.667px; padding-top:0px; padding-right:7.667px; padding-bottom:0px" valign=bottom width=54><P style="margin-top:0px; margin-bottom:2.333px; font-size:7pt; border-bottom:1px solid #000000" align=center><B>Stock<BR>
Awards<BR>
($)(1)</B></P>
</TD><TD style="margin-top:0px; padding-left:7.667px; padding-top:0px; padding-right:7.667px; padding-bottom:0px" valign=bottom width=60><P style="margin-top:0px; margin-bottom:2.333px; font-size:7pt; border-bottom:1px solid #000000" align=center><B>Option Awards<BR>
($)(1)</B></P>
</TD><TD style="margin-top:0px; padding-left:7.667px; padding-top:0px; padding-right:7.667px; padding-bottom:0px" valign=bottom width=78><P style="margin-top:0px; margin-bottom:2.333px; font-size:7pt; border-bottom:1px solid #000000" align=center><B>NonEquity Incentive <BR>
Plan Compensation<BR>
($)</B></P>
</TD><TD style="margin-top:0px; padding-left:7.667px; padding-top:0px; padding-right:7.667px; padding-bottom:0px" valign=bottom width=78><P style="margin-top:0px; margin-bottom:2.333px; font-size:7pt; border-bottom:1px solid #000000" align=center><B>Changes in Pension Value and Nonqualified Deferred Compensation Earnings<BR>
($)</B></P>
</TD><TD style="margin-top:0px; padding-left:7.667px; padding-top:0px; padding-right:7.667px; padding-bottom:0px" valign=bottom width=78><P style="margin-top:0px; margin-bottom:2.333px; font-size:7pt; border-bottom:1px solid #000000" align=center><B>All Other Compensation<BR>
($)(2)</B></P>
</TD><TD style="margin-top:0px; padding-left:7.667px; padding-top:0px; padding-right:7.667px; padding-bottom:0px" valign=bottom width=60><P style="margin-top:0px; margin-bottom:2.333px; font-size:7pt; border-bottom:1px solid #000000" align=center><B>Total<BR>
($)</B></P>
</TD></TR>
<TR><TD style="margin-top:0px; padding-left:7.667px; padding-top:0px; padding-right:7.667px; padding-bottom:0px" valign=top width=126><P style="margin:0px"><BR></P>
</TD><TD style="margin-top:0px; padding-left:7.667px; padding-top:0px; padding-right:7.667px; padding-bottom:0px" valign=top width=36><P style="margin:0px"><BR></P>
</TD><TD style="margin-top:0px; padding-left:7.667px; padding-top:0px; padding-right:7.667px; padding-bottom:0px" valign=top width=60><P style="margin:0px"><BR></P>
</TD><TD style="margin-top:0px; padding-left:7.667px; padding-top:0px; padding-right:7.667px; padding-bottom:0px" valign=top width=60><P style="margin:0px"><BR></P>
</TD><TD style="margin-top:0px; padding-left:7.667px; padding-top:0px; padding-right:7.667px; padding-bottom:0px" valign=top width=54><P style="margin:0px"><BR></P>
</TD><TD style="margin-top:0px; padding-left:7.667px; padding-top:0px; padding-right:7.667px; padding-bottom:0px" valign=top width=60><P style="margin:0px"><BR></P>
</TD><TD style="margin-top:0px; padding-left:7.667px; padding-top:0px; padding-right:7.667px; padding-bottom:0px" valign=top width=78><P style="margin:0px"><BR></P>
</TD><TD style="margin-top:0px; padding-left:7.667px; padding-top:0px; padding-right:7.667px; padding-bottom:0px" valign=top width=78><P style="margin:0px"><BR></P>
</TD><TD style="margin-top:0px; padding-left:7.667px; padding-top:0px; padding-right:7.667px; padding-bottom:0px" valign=top width=78><P style="margin:0px"><BR></P>
</TD><TD style="margin-top:0px; padding-left:7.667px; padding-top:0px; padding-right:7.667px; padding-bottom:0px" valign=top width=60><P style="margin:0px"><BR></P>
</TD></TR>
<TR><TD style="margin-top:0px; padding-left:7.667px; padding-top:0px; padding-right:7.667px; padding-bottom:0px" valign=top width=126 height=43.2><P style="margin:0px; font-size:7pt">Jeffrey&#160;A. Stopko, age 55</P>
<P style="margin:0px; text-indent:9.6px; font-size:7pt">President and CEO</P>
<P style="margin:0px; text-indent:9.6px; font-size:7pt">of ASRV and AmeriServ</P>
<P style="margin:0px; text-indent:9.6px; font-size:7pt">&nbsp;Financial Bank</P>
</TD><TD style="margin-top:0px; padding-left:7.667px; padding-top:0px; padding-right:7.667px; padding-bottom:0px" valign=top width=36 height=43.2><P style="margin:0px; font-size:7pt" align=center>2017</P>
<P style="margin:0px; font-size:7pt" align=center>2016</P>
<P style="margin:0px; font-size:7pt" align=center>2015</P>
<P style="margin:0px" align=center><BR></P>
</TD><TD style="margin-top:0px; padding-left:7.667px; padding-top:0px; padding-right:7.667px; padding-bottom:0px" valign=top width=60 height=43.2><P style="margin:0px; text-indent:10.467px; font-size:7pt">314,750</P>
<P style="margin:0px; text-indent:10.467px; font-size:7pt">295,500</P>
<P style="margin:0px; text-indent:10.467px; font-size:7pt">285,000</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px"><BR></P>
</TD><TD style="margin-top:0px; padding-left:7.667px; padding-top:0px; padding-right:7.667px; padding-bottom:0px" valign=top width=60 height=43.2><P style="margin:0px; text-indent:36.133px; font-size:7pt">0</P>
<P style="margin:0px; text-indent:36.133px; font-size:7pt">0</P>
<P style="margin:0px; text-indent:36.133px; font-size:7pt">0</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px"><BR></P>
</TD><TD style="margin-top:0px; padding-left:7.667px; padding-top:0px; padding-right:7.667px; padding-bottom:0px" valign=top width=54 height=43.2><P style="margin:0px; text-indent:34.933px; font-size:7pt">0</P>
<P style="margin:0px; text-indent:34.933px; font-size:7pt">0</P>
<P style="margin:0px; text-indent:18.6px; font-size:7pt">7,849</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px"><BR></P>
</TD><TD style="margin-top:0px; padding-left:7.667px; padding-top:0px; padding-right:7.667px; padding-bottom:0px" valign=top width=60 height=43.2><P style="margin:0px; text-indent:40.933px; font-size:7pt">0</P>
<P style="margin:0px; text-indent:40.933px; font-size:7pt">0</P>
<P style="margin:0px; text-indent:24.6px; font-size:7pt">6,700</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px"><BR></P>
</TD><TD style="margin-top:0px; padding-left:7.667px; padding-top:0px; padding-right:7.667px; padding-bottom:0px" valign=top width=78 height=43.2><P style="margin:0px; text-indent:27.133px; font-size:7pt">26,681</P>
<P style="margin:0px; text-indent:48.133px; font-size:7pt">0</P>
<P style="margin:0px; text-indent:27.133px; font-size:7pt">23,548</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px"><BR></P>
</TD><TD style="margin-top:0px; padding-left:7.667px; padding-top:0px; padding-right:7.667px; padding-bottom:0px" valign=top width=78 height=43.2><P style="margin:0px; text-indent:27.133px; font-size:7pt">91,343</P>
<P style="margin:0px; text-indent:27.133px; font-size:7pt">66,134</P>
<P style="margin:0px; text-indent:27.133px; font-size:7pt">57,000</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px"><BR></P>
</TD><TD style="margin-top:0px; padding-left:7.667px; padding-top:0px; padding-right:7.667px; padding-bottom:0px" valign=top width=78 height=43.2><P style="margin:0px; text-indent:24.133px; font-size:7pt">17,459</P>
<P style="margin:0px; text-indent:24.133px; font-size:7pt">16,436</P>
<P style="margin:0px; text-indent:24.133px; font-size:7pt">17,853</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px"><BR></P>
</TD><TD style="margin-top:0px; padding-left:7.667px; padding-top:0px; padding-right:7.667px; padding-bottom:0px" valign=top width=60 height=43.2><P style="margin:0px; text-indent:15.267px; font-size:7pt">450,233</P>
<P style="margin:0px; text-indent:15.267px; font-size:7pt">378,070</P>
<P style="margin:0px; text-indent:15.267px; font-size:7pt">397,950</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px"><BR></P>
</TD></TR>
<TR><TD style="margin-top:0px; padding-left:7.667px; padding-top:0px; padding-right:7.667px; padding-bottom:0px" valign=top width=126><P style="margin:0px"><BR></P>
</TD><TD style="margin-top:0px; padding-left:7.667px; padding-top:0px; padding-right:7.667px; padding-bottom:0px" valign=top width=36><P style="margin:0px"><BR></P>
</TD><TD style="margin-top:0px; padding-left:7.667px; padding-top:0px; padding-right:7.667px; padding-bottom:0px" valign=top width=60><P style="margin:0px"><BR></P>
</TD><TD style="margin-top:0px; padding-left:7.667px; padding-top:0px; padding-right:7.667px; padding-bottom:0px" valign=top width=60><P style="margin:0px"><BR></P>
</TD><TD style="margin-top:0px; padding-left:7.667px; padding-top:0px; padding-right:7.667px; padding-bottom:0px" valign=top width=54><P style="margin:0px"><BR></P>
</TD><TD style="margin-top:0px; padding-left:7.667px; padding-top:0px; padding-right:7.667px; padding-bottom:0px" valign=top width=60><P style="margin:0px"><BR></P>
</TD><TD style="margin-top:0px; padding-left:7.667px; padding-top:0px; padding-right:7.667px; padding-bottom:0px" valign=top width=78><P style="margin:0px"><BR></P>
</TD><TD style="margin-top:0px; padding-left:7.667px; padding-top:0px; padding-right:7.667px; padding-bottom:0px" valign=top width=78><P style="margin:0px"><BR></P>
</TD><TD style="margin-top:0px; padding-left:7.667px; padding-top:0px; padding-right:7.667px; padding-bottom:0px" valign=top width=78><P style="margin:0px"><BR></P>
</TD><TD style="margin-top:0px; padding-left:7.667px; padding-top:0px; padding-right:7.667px; padding-bottom:0px" valign=top width=60><P style="margin:0px"><BR></P>
</TD></TR>
<TR><TD style="margin-top:0px; padding-left:7.667px; padding-top:0px; padding-right:7.667px; padding-bottom:0px" valign=top width=126><P style="margin:0px; font-size:7pt">Michael&#160;D. Lynch, age 57</P>
<P style="margin-top:0px; margin-bottom:-2px; text-indent:9.6px; width:96px; font-size:7pt; float:left">Senior Vice President, </P>
<P style="margin:0px; text-indent:-2px; font-size:7pt">CFO, Chief Investment</P>
<P style="margin:0px; text-indent:9.6px; font-size:7pt; clear:left">Officer, &amp; Chief Risk</P>
<P style="margin:0px; text-indent:9.6px; font-size:7pt">Officer of ASRV and</P>
<P style="margin:0px; text-indent:9.6px; font-size:7pt">AmeriServ Financial Bank</P>
<P style="margin:0px"><BR></P>
</TD><TD style="margin-top:0px; padding-left:7.667px; padding-top:0px; padding-right:7.667px; padding-bottom:0px" valign=top width=36><P style="margin:0px; font-size:7pt">2017</P>
<P style="margin:0px; font-size:7pt">2016</P>
<P style="margin:0px; font-size:7pt">2015</P>
<P style="margin:0px"><BR></P>
</TD><TD style="margin-top:0px; padding-left:7.667px; padding-top:0px; padding-right:7.667px; padding-bottom:0px" valign=top width=60><P style="margin:0px; text-indent:10.467px; font-size:7pt">178,250</P>
<P style="margin:0px; text-indent:10.467px; font-size:7pt">164,502</P>
<P style="margin:0px; text-indent:10.467px; font-size:7pt">154,506</P>
</TD><TD style="margin-top:0px; padding-left:7.667px; padding-top:0px; padding-right:7.667px; padding-bottom:0px" valign=top width=60><P style="margin:0px; text-indent:36.133px; font-size:7pt">0</P>
<P style="margin:0px; text-indent:36.133px; font-size:7pt">0</P>
<P style="margin:0px; text-indent:36.133px; font-size:7pt">0</P>
</TD><TD style="margin-top:0px; padding-left:7.667px; padding-top:0px; padding-right:7.667px; padding-bottom:0px" valign=top width=54><P style="margin:0px; text-indent:34.933px; font-size:7pt">0</P>
<P style="margin:0px; text-indent:34.933px; font-size:7pt">0</P>
<P style="margin:0px; text-indent:18.6px; font-size:7pt">2,979</P>
</TD><TD style="margin-top:0px; padding-left:7.667px; padding-top:0px; padding-right:7.667px; padding-bottom:0px" valign=top width=60><P style="margin:0px; text-indent:40.933px; font-size:7pt">0</P>
<P style="margin:0px; text-indent:24.6px; font-size:7pt">5,400</P>
<P style="margin:0px; text-indent:24.6px; font-size:7pt">3,350</P>
</TD><TD style="margin-top:0px; padding-left:7.667px; padding-top:0px; padding-right:7.667px; padding-bottom:0px" valign=top width=78><P style="margin:0px; text-indent:27.133px; font-size:7pt">11,447</P>
<P style="margin:0px; text-indent:48.133px; font-size:7pt">0</P>
<P style="margin:0px; text-indent:31.8px; font-size:7pt">8,936</P>
</TD><TD style="margin-top:0px; padding-left:7.667px; padding-top:0px; padding-right:7.667px; padding-bottom:0px" valign=top width=78><P style="margin:0px; text-indent:27.133px; font-size:7pt">79,394</P>
<P style="margin:0px; text-indent:27.133px; font-size:7pt">62,201</P>
<P style="margin:0px; text-indent:27.133px; font-size:7pt">42,002</P>
</TD><TD style="margin-top:0px; padding-left:7.667px; padding-top:0px; padding-right:7.667px; padding-bottom:0px" valign=top width=78><P style="margin:0px; text-indent:28.8px; font-size:7pt">3,209</P>
<P style="margin:0px; text-indent:28.8px; font-size:7pt">3,012</P>
<P style="margin:0px; text-indent:28.8px; font-size:7pt">2,782</P>
</TD><TD style="margin-top:0px; padding-left:7.667px; padding-top:0px; padding-right:7.667px; padding-bottom:0px" valign=top width=60><P style="margin:0px; text-indent:15.267px; font-size:7pt">272,300</P>
<P style="margin:0px; text-indent:15.267px; font-size:7pt">235,115</P>
<P style="margin:0px; text-indent:15.267px; font-size:7pt">214,555</P>
</TD></TR>
<TR><TD style="margin-top:0px; padding-left:7.667px; padding-top:0px; padding-right:7.667px; padding-bottom:0px" valign=top width=126><P style="margin:0px"><BR></P>
</TD><TD style="margin-top:0px; padding-left:7.667px; padding-top:0px; padding-right:7.667px; padding-bottom:0px" valign=top width=36><P style="margin:0px"><BR></P>
</TD><TD style="margin-top:0px; padding-left:7.667px; padding-top:0px; padding-right:7.667px; padding-bottom:0px" valign=top width=60><P style="margin:0px"><BR></P>
</TD><TD style="margin-top:0px; padding-left:7.667px; padding-top:0px; padding-right:7.667px; padding-bottom:0px" valign=top width=60><P style="margin:0px"><BR></P>
</TD><TD style="margin-top:0px; padding-left:7.667px; padding-top:0px; padding-right:7.667px; padding-bottom:0px" valign=top width=54><P style="margin:0px"><BR></P>
</TD><TD style="margin-top:0px; padding-left:7.667px; padding-top:0px; padding-right:7.667px; padding-bottom:0px" valign=top width=60><P style="margin:0px"><BR></P>
</TD><TD style="margin-top:0px; padding-left:7.667px; padding-top:0px; padding-right:7.667px; padding-bottom:0px" valign=top width=78><P style="margin:0px"><BR></P>
</TD><TD style="margin-top:0px; padding-left:7.667px; padding-top:0px; padding-right:7.667px; padding-bottom:0px" valign=top width=78><P style="margin:0px"><BR></P>
</TD><TD style="margin-top:0px; padding-left:7.667px; padding-top:0px; padding-right:7.667px; padding-bottom:0px" valign=top width=78><P style="margin:0px"><BR></P>
</TD><TD style="margin-top:0px; padding-left:7.667px; padding-top:0px; padding-right:7.667px; padding-bottom:0px" valign=top width=60><P style="margin:0px"><BR></P>
</TD></TR>
<TR><TD style="margin-top:0px; padding-left:7.667px; padding-top:0px; padding-right:7.667px; padding-bottom:0px" valign=top width=126><P style="margin:0px; font-size:7pt">James T. Huerth, age 56</P>
<P style="margin:0px; text-indent:9.6px; font-size:7pt">President and CEO</P>
<P style="margin:0px; text-indent:9.6px; font-size:7pt">of AmeriServ Trust and </P>
<P style="margin:0px; text-indent:9.6px; font-size:7pt">Financial Services </P>
<P style="margin:0px; text-indent:9.6px; font-size:7pt">Company</P>
<P style="margin:0px"><BR></P>
</TD><TD style="margin-top:0px; padding-left:7.667px; padding-top:0px; padding-right:7.667px; padding-bottom:0px" valign=top width=36><P style="margin:0px; font-size:7pt" align=center>2017</P>
<P style="margin:0px; font-size:7pt" align=center>2016</P>
<P style="margin:0px; font-size:7pt" align=center>2015</P>
<P style="margin:0px" align=center><BR></P>
</TD><TD style="margin-top:0px; padding-left:7.667px; padding-top:0px; padding-right:7.667px; padding-bottom:0px" valign=top width=60><P style="margin:0px; text-indent:10.467px; font-size:7pt">267,500</P>
<P style="margin:0px; text-indent:10.467px; font-size:7pt">257,520</P>
<P style="margin:0px; text-indent:10.467px; font-size:7pt">250,080</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px"><BR></P>
<P style="margin:0px"><BR></P>
</TD><TD style="margin-top:0px; padding-left:7.667px; padding-top:0px; padding-right:7.667px; padding-bottom:0px" valign=top width=60><P style="margin:0px; text-indent:36.133px; font-size:7pt">0</P>
<P style="margin:0px; text-indent:36.133px; font-size:7pt">0</P>
<P style="margin:0px; text-indent:36.133px; font-size:7pt">0</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px"><BR></P>
</TD><TD style="margin-top:0px; padding-left:7.667px; padding-top:0px; padding-right:7.667px; padding-bottom:0px" valign=top width=54><P style="margin:0px; text-indent:34.933px; font-size:7pt">0</P>
<P style="margin:0px; text-indent:34.933px; font-size:7pt">0</P>
<P style="margin:0px; text-indent:18.6px; font-size:7pt">6,428</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px"><BR></P>
<P style="margin:0px"><BR></P>
</TD><TD style="margin-top:0px; padding-left:7.667px; padding-top:0px; padding-right:7.667px; padding-bottom:0px" valign=top width=60><P style="margin:0px; text-indent:40.933px; font-size:7pt">0</P>
<P style="margin:0px; text-indent:24.6px; font-size:7pt">9,500</P>
<P style="margin:0px; text-indent:24.6px; font-size:7pt">5,025</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px"><BR></P>
<P style="margin:0px"><BR></P>
</TD><TD style="margin-top:0px; padding-left:7.667px; padding-top:0px; padding-right:7.667px; padding-bottom:0px" valign=top width=78><P style="margin:0px; text-indent:31.8px; font-size:7pt">8,979</P>
<P style="margin:0px; text-indent:48.133px; font-size:7pt">0</P>
<P style="margin:0px; text-indent:27.133px; font-size:7pt">19,285</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px"><BR></P>
</TD><TD style="margin-top:0px; padding-left:7.667px; padding-top:0px; padding-right:7.667px; padding-bottom:0px" valign=top width=78><P style="margin:0px; text-indent:27.133px; font-size:7pt">84,889</P>
<P style="margin:0px; text-indent:27.133px; font-size:7pt">60,565</P>
<P style="margin:0px; text-indent:27.133px; font-size:7pt">46,595</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px"><BR></P>
<P style="margin:0px"><BR></P>
</TD><TD style="margin-top:0px; padding-left:7.667px; padding-top:0px; padding-right:7.667px; padding-bottom:0px" valign=top width=78><P style="margin:0px; text-indent:24.133px; font-size:7pt">13,902</P>
<P style="margin:0px; text-indent:24.133px; font-size:7pt">15,198</P>
<P style="margin:0px; text-indent:24.133px; font-size:7pt">14,826</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px"><BR></P>
<P style="margin:0px"><BR></P>
</TD><TD style="margin-top:0px; padding-left:7.667px; padding-top:0px; padding-right:7.667px; padding-bottom:0px" valign=top width=60><P style="margin:0px; text-indent:15.267px; font-size:7pt">375,270</P>
<P style="margin:0px; text-indent:15.267px; font-size:7pt">342,783</P>
<P style="margin:0px; text-indent:15.267px; font-size:7pt">342,239</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px"><BR></P>
<P style="margin:0px"><BR></P>
</TD></TR>
</TABLE>
<P style="margin:0px"><BR></P>
<P style="margin-top:0px; margin-bottom:-2px; width:36px; float:left">(1)</P>
<P style="margin-top:0px; margin-bottom:13.333px; padding-left:36px; text-indent:-2px" align=justify>Represents the grant date fair value, computed in accordance with FASB A.S.C. Topic&#160;718, of stock and option awards granted under the Executive AtRisk Incentive Compensation Plan in 2015 and under the 2011 Stock Incentive Plan in 2015 and 2016. &nbsp;See the discussion in our Annual Report on Form&#160;10K for the year ended December&#160;31, 2017, for a discussion of the assumptions and methodologies used to calculate the amounts in this column. &nbsp;</P>
<P style="margin-top:0px; margin-bottom:-2px; width:36px; clear:left; float:left">(2)</P>
<P style="margin-top:0px; margin-bottom:13.333px; padding-left:36px; text-indent:-2px" align=justify>For 2017, includes, as applicable, (a)&#160;premiums we pay for life insurance policies with coverage limits above $50,000 for each named executive officer; (b)&#160;country club dues for Messrs.&#160;Stopko and Huerth; (c)&#160;the aggregate incremental cost of a companyprovided automobile for Messrs.&#160;Stopko and Huerth; and (d)&#160;our 401(k) plan matching contributions for each of Messrs.&#160;Stopko, Lynch, and Huerth, in the amount of $3,148, $1,743, and $2,675, respectively.</P>
<P style="margin:0px; font-size:12pt; clear:left" align=center><U>SIGNATURES</U></P>
<P style="margin:0px; font-size:12pt">&#160;</P>
<P style="margin:0px; text-indent:48px; font-size:12pt">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; font-size:12pt">&#160;</P>
<TABLE style="margin-top:0px; font-size:10pt" cellpadding=0 cellspacing=0><TR height=0 style="font-size:0"><TD width=426.2 /><TD width=34.467 /><TD width=11.6 /><TD width=197.133 /><TD width=50.533 /></TR>
<TR><TD style="margin-top:0px; padding:0px" valign=top width=426.2><P style="margin:0px"><BR></P>
</TD><TD style="margin-top:0px; padding:0px" valign=top width=293.733 colspan=4><P style="margin:0px; font-size:12pt">AMERISERV FINANCIAL, INC.</P>
</TD></TR>
<TR><TD style="margin-top:0px; padding:0px" valign=top width=426.2><P style="margin:0px; font-size:12pt">&#160;</P>
</TD><TD style="margin-top:0px; padding:0px" valign=top width=34.467><P style="margin:0px; font-size:12pt">&#160;</P>
</TD><TD style="margin-top:0px; padding:0px" valign=top width=259.267 colspan=3><P style="margin:0px; font-size:12pt">&#160;</P>
</TD></TR>
<TR><TD style="margin-top:0px; padding:0px" valign=top width=426.2><P style="margin:0px; font-size:12pt">Dated:&#160; April&#160;19, 2018</P>
</TD><TD style="margin-top:0px; padding:0px" valign=top width=34.467><P style="margin:0px; font-size:12pt">By:</P>
</TD><TD style="margin-top:0px; padding:0px; border-bottom:1px solid #000000" valign=top width=208.733 colspan=2><P style="margin:0px; font-size:12pt">/s/ Jeffrey A. Stopko</P>
</TD><TD style="margin-top:0px; padding:0px" valign=top width=50.533><P style="margin:0px"><BR></P>
</TD></TR>
<TR><TD style="margin-top:0px; padding:0px" valign=top width=426.2><P style="margin:0px"><BR></P>
</TD><TD style="margin-top:0px; padding:0px" valign=top width=34.467><P style="margin:0px"><BR></P>
</TD><TD style="margin-top:0px; padding:0px" valign=top width=11.6><P style="margin:0px"><BR></P>
</TD><TD style="margin-top:0px; padding:0px" valign=top width=247.667 colspan=2><P style="margin:0px; font-size:12pt">Jeffrey A. Stopko</P>
</TD></TR>
<TR><TD style="margin-top:0px; padding:0px" valign=top width=426.2><P style="margin:0px"><BR></P>
</TD><TD style="margin-top:0px; padding:0px" valign=top width=34.467><P style="margin:0px"><BR></P>
</TD><TD style="margin-top:0px; padding:0px" valign=top width=11.6><P style="margin:0px"><BR></P>
</TD><TD style="margin-top:0px; padding:0px" valign=top width=247.667 colspan=2><P style="margin:0px; font-size:12pt">President and<BR>
Chief Executive Officer</P>
</TD></TR>
<TR><TD style="margin-top:0px; padding:0px" width=426.2><P style="margin:0px"><BR></P>
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