<SEC-DOCUMENT>0000707605-19-000087.txt : 20191018
<SEC-HEADER>0000707605-19-000087.hdr.sgml : 20191018
<ACCEPTANCE-DATETIME>20191018082621
ACCESSION NUMBER:		0000707605-19-000087
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20191018
ITEM INFORMATION:		Other Events
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20191018
DATE AS OF CHANGE:		20191018

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:		191156766

	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>dividend10198k.htm
<DESCRIPTION>PRESS RELEASE ANNOUNCING QUARTERLY COMMON STOCK CASH DIVIDEND
<TEXT>
<!doctype html public "-//IETF//DTD HTML//EN">
<HTML>
<HEAD>
<TITLE>SECURITIES AND EXCHANGE COMMISSION</TITLE>
<META NAME="author" CONTENT="USBANCORP">
<META NAME="date" CONTENT="04/17/2018">
</HEAD>
<BODY style="margin-top:0;font-family:'Times New Roman'; font-size:10pt; color:#000000">
<DIV style="width:714.267px"><P style="line-height:12pt; margin:0px"><BR></P>
<P style="margin:0px"><BR></P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:'Courier New'">UNITED STATES</P>
<P style="margin:0px; font-family:'Courier New'">SECURITIES AND EXCHANGE COMMISSION</P>
<P style="margin:0px; font-family:'Courier New'">Washington, D.C. &nbsp;20549</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:'Courier New'">Form 8-K</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:'Courier New'">Current Report </P>
<P style="margin:0px; font-family:'Courier New'">Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:'Courier New'">Date of Report (Date of earliest event reported) <A NAME="QuickMark"></A>October 18, 2019</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:'Courier New'">AMERISERV FINANCIAL, Inc.</P>
<P style="margin:0px; font-family:'Courier New'">(exact name of registrant as specified in its charter)</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:'Courier New'">Pennsylvania &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0-11204 &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25-1424278</P>
<P style="margin:0px; font-family:'Courier New'">(State or other &nbsp;&nbsp;&nbsp;&nbsp;(Commission &nbsp;&nbsp;&nbsp;(IRS Employer</P>
<P style="margin:0px; font-family:'Courier New'">jurisdiction &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;File Number) &nbsp;&nbsp;Identification No.)</P>
<P style="margin:0px; font-family:'Courier New'">of incorporation)</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:'Courier New'">Main and Franklin Streets, Johnstown, PA &nbsp;15901</P>
<P style="margin:0px; font-family:'Courier New'">(address of principal executive offices) &nbsp;&nbsp;(Zip Code)</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:'Courier New'">Registrant's telephone number, including area code: 814-533-5300</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:'Courier New'">N/A</P>
<P style="margin:0px; font-family:'Courier New'" align=justify>(Former name or former address, if changed since last report.)</P>
<P style="margin:0px" align=justify><BR></P>
<P style="margin:0px; padding-right:60.267px; font-family:'Courier New'" align=justify>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" align=justify><BR></P>
<P style="margin:0px; padding-right:66.267px; font-family:'Courier New'" align=justify>( ) Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)</P>
<P style="margin:0px" align=justify><BR></P>
<P style="margin:0px; padding-right:66.267px; font-family:'Courier New'" align=justify>( ) Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)</P>
<P style="margin:0px" align=justify><BR></P>
<P style="margin:0px; padding-right:66.267px; font-family:'Courier New'" align=justify>( ) Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</P>
<P style="margin:0px" align=justify><BR></P>
<P style="margin:0px; padding-right:66.267px; font-family:'Courier New'" align=justify>( ) Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</P>
<P style="margin:0px" align=justify><BR></P>
<P style="margin:0px; padding-right:-48px; font-family:'Courier New'" align=justify>Securities registered pursuant to Section 12(b) of the Act:</P>
<P style="margin:0px" align=justify><BR></P>
</DIV><TABLE style="margin-top:0px; font-size:10pt" cellpadding=0 cellspacing=0><TR height=0 style="font-size:0"><TD width=306 /><TD width=135.2 /><TD width=284.8 /></TR>
<TR><TD style="margin-top:0px; padding-left:9.6px; padding-top:0px; padding-right:9.6px; padding-bottom:0px" valign=top width=306><P style="margin:0px; padding-left:-43.2px; padding-right:-48px; font-family:'Courier New'; font-size:8pt" align=center><U>Title Of Each Class</U></P>
</TD><TD style="margin-top:0px; padding-left:9.6px; padding-top:0px; padding-right:9.6px; padding-bottom:0px" valign=top width=135.2><P style="margin:0px; padding-left:-46px; padding-right:-48px; font-family:'Courier New'; font-size:8pt" align=center><U>Trading Symbol</U></P>
</TD><TD style="margin-top:0px; padding-left:9.6px; padding-top:0px; padding-right:9.6px; padding-bottom:0px" valign=top width=284.8><P style="margin:0px; padding-left:-49.2px; padding-right:-48px; font-family:'Courier New'; font-size:8pt" align=center><U>Name of Each Exchange On Which Registered</U></P>
</TD></TR>
<TR><TD style="margin-top:0px; padding-left:9.6px; padding-top:0px; padding-right:9.6px; padding-bottom:0px" valign=top width=306><P style="margin:0px; padding-left:-43.2px; padding-right:-48px; font-family:'Courier New'; font-size:8pt" align=center>Common Stock</P>
</TD><TD style="margin-top:0px; padding-left:9.6px; padding-top:0px; padding-right:9.6px; padding-bottom:0px" valign=top width=135.2><P style="margin:0px; padding-left:-46px; padding-right:-48px; font-family:'Courier New'; font-size:8pt" align=center>ASRV</P>
</TD><TD style="margin-top:0px; padding-left:9.6px; padding-top:0px; padding-right:9.6px; padding-bottom:0px" valign=top width=284.8><P style="margin:0px; padding-left:-49.2px; padding-right:-48px; font-family:'Courier New'; font-size:8pt" align=center>The NASDAQ Stock Market LLC</P>
</TD></TR>
<TR><TD style="margin-top:0px; padding-left:9.6px; padding-top:0px; padding-right:9.6px; padding-bottom:0px" valign=top width=306><P style="margin:0px; padding-left:-43.2px; padding-right:-48px; font-family:'Courier New'; font-size:8pt" align=center>8.45% Beneficial Unsecured Securities, Series A</P>
<P style="margin:0px; padding-left:-43.2px; padding-right:-48px; font-family:'Courier New'; font-size:8pt" align=center>(AmeriServ Financial Capital Trust I)</P>
</TD><TD style="margin-top:0px; padding-left:9.6px; padding-top:0px; padding-right:9.6px; padding-bottom:0px" valign=bottom width=135.2><P style="margin:0px; padding-left:-46px; padding-right:-48px; font-family:'Courier New'; font-size:8pt" align=center>ASRVP</P>
</TD><TD style="margin-top:0px; padding-left:9.6px; padding-top:0px; padding-right:9.6px; padding-bottom:0px" valign=bottom width=284.8><P style="margin:0px; padding-left:-49.2px; padding-right:-48px; font-family:'Courier New'; font-size:8pt" align=center>The NASDAQ Stock Market LLC</P>
</TD></TR>
</TABLE>
<DIV style="width:714.267px"><P style="margin:0px" align=justify><BR></P>
<P style="margin:0px; padding-right:66.267px; font-family:'Courier New'" align=justify>Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (240.12b-2 of this chapter).</P>
<P style="margin:0px; padding-right:66.267px; text-indent:432px; font-family:'Courier New'" align=justify>Emerging growth company ( )</P>
<P style="margin:0px" align=justify><BR></P>
<P style="margin:0px; padding-right:66.267px; font-family:'Courier New'" align=justify>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. ( )</P>
<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=justify><BR>
<BR></P>
<P style="line-height:12pt; margin:0px"><BR></P>
<P style="margin:0px"><BR></P>
<P style="line-height:12pt; margin:0px; page-break-before:always"><BR></P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; text-indent:285.533px; font-family:'Courier New'" align=justify>Form 8-K</P>
<P style="margin:0px" align=justify><BR></P>
<P style="margin:0px; font-family:'Courier New'" align=justify>Item 8.01 Other events.</P>
<P style="margin:0px" align=justify><BR></P>
<P style="margin:0px; font-family:'Courier New'" align=justify>On October 18, 2019, AmeriServ Financial, Inc. issued a press release announcing that its Board of Directors declared a $0.025 per share quarterly common stock cash dividend. &nbsp;The cash dividend is payable November 18, 2019 to shareholders of record on November 4, 2019. &nbsp;This cash dividend represents a 2.41% annualized yield using the October 16, 2019 closing common stock price of $4.15 and represents an approximate payout ratio of 25% based upon the Company&#146;s recently reported third quarter 2019 earnings per share of $0.10. &nbsp;The press release, attached hereto as Exhibit 99.1, is incorporated herein.</P>
<P style="margin:0px" align=justify><BR></P>
<P style="margin:0px; font-family:'Courier New'" align=justify>Item&nbsp;9.01 Financial Statements and Exhibits.</P>
<P style="margin:0px" align=justify><BR></P>
<P style="margin:0px; font-family:'Courier New'" align=justify>(d) Exhibits:</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:'Courier New'" align=justify>99.1 &nbsp;Press release dated October 18, 2019, of AmeriServ Financial, Inc.</P>
<P style="margin:0px" align=justify><BR></P>
<P style="margin:0px" align=justify><BR></P>
<P style="margin:0px; text-indent:48px; font-family:'Courier New'" align=justify>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" align=justify><BR></P>
<P style="margin:0px" align=justify><BR></P>
<P style="margin:0px; font-family:'Courier New'" align=justify>AMERISERV FINANCIAL, Inc.</P>
<P style="margin:0px" align=justify><BR></P>
<P style="margin:0px; font-family:'Courier New'" align=justify>By /s/Michael D. Lynch</P>
<P style="margin:0px; font-family:'Courier New'" align=justify>Michael D. Lynch</P>
<P style="margin:0px; font-family:'Courier New'" align=justify>SVP &amp; CFO</P>
<P style="margin:0px" align=justify><BR></P>
<P style="margin:0px; font-family:'Courier New'" align=justify>Date: October 18, 2019 </P>
<P style="margin:0px"><BR>
<BR></P>
<P style="line-height:12pt; margin:0px"><BR></P>
<P style="margin:0px"><BR></P>
<P style="line-height:12pt; margin:0px; page-break-before:always"><BR></P>
<P style="margin:0px"><BR></P>
<P style="margin:0px">Exhibit 99.1</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; padding-right:0.267px"><B>AMERISERV FINANCIAL, INC. ANNOUNCES QUARTERLY </B></P>
<P style="margin:0px; padding-right:0.267px"><B>COMMON STOCK CASH DIVIDEND</B></P>
<P style="margin:0px" align=justify><BR></P>
<P style="margin:0px" align=justify><BR></P>
<P style="margin:0px; padding-right:0.267px; text-indent:48px" align=justify>JOHNSTOWN, PA &#150; AmeriServ Financial, Inc. (NASDAQ: ASRV) announced that its Board of Directors declared a $0.025 per share quarterly common stock cash dividend. &nbsp;The cash dividend is payable November 18, 2019 to shareholders of record on November 4, 2019. &nbsp;This cash dividend represents a 2.41% annualized yield using the October 16, 2019 closing common stock price of $4.15 and represents an approximate payout ratio of 25% based upon the Company&#146;s recently reported third quarter 2019 earnings per share of $0.10. &nbsp;&nbsp;&nbsp;&nbsp;</P>
<P style="margin:0px" align=justify><BR></P>
<P style="margin:0px; padding-right:0.267px; text-indent:48px" align=justify>AmeriServ Financial, Inc. is the parent of AmeriServ Financial Bank and AmeriServ Trust and Financial Services Company in Johnstown. &nbsp;The Company&#146;s subsidiaries provide full-service banking and wealth management services through sixteen community offices in southwestern Pennsylvania and Hagerstown, Maryland. &nbsp;The Company also operates loan production offices in Altoona and Monroeville, Pennsylvania. &nbsp;At September 30, 2019, AmeriServ had total assets of $1.17 billion and a book value of $5.98 per common share. &nbsp;</P>
<P style="margin:0px" align=justify><BR></P>
<P style="margin:0px; padding-right:0.267px" align=justify><B>Forward-Looking Statements</B> </P>
<P style="margin:0px; padding-right:0.267px">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, 2018. 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>
<P style="margin:0px"><BR>
<BR></P>
<P style="line-height:12pt; margin:0px"><BR></P>
<P style="margin:0px"><BR></P>
</DIV></BODY>
<!-- EDGAR Validation Code: F9896767 -->
</HTML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
