<SEC-DOCUMENT>0000707605-21-000008.txt : 20210115
<SEC-HEADER>0000707605-21-000008.hdr.sgml : 20210115
<ACCEPTANCE-DATETIME>20210115120517
ACCESSION NUMBER:		0000707605-21-000008
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20210115
ITEM INFORMATION:		Regulation FD Disclosure
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20210115
DATE AS OF CHANGE:		20210115

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:		21531003

	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>riverviewbranchdepositacquis.htm
<DESCRIPTION>PRESS RELEASE REGARDING ACQUISITION OF BRANCH AND DEPOSITS FROM RIVERVIEW FINANCIAL CORP
<TEXT>
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<HEAD>
<TITLE>Converted by EDGARwiz</TITLE>
<META NAME="author" CONTENT="Peggy O'Malley">
<META NAME="date" CONTENT="2018-05-23T15:00:00Z">
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<DIV style="width:624px"><P style="margin:0px; font-size:12pt; border-bottom:1px solid #000000">&#160;&#160;</P>
<P style="margin-top:8.8px; margin-bottom: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, DC 20549</B>&#160;</P>
<P style="margin-top:0px; margin-bottom:2.933px; font-size:12pt; border-bottom:1px solid #000000" align=center>&#160;</P>
<P style="margin-top:17.6px; margin-bottom:0px; font-size:18pt" align=center><B>FORM 8-K</B><FONT style="font-size:12pt">&#160;</FONT></P>
<P style="margin-top:0px; margin-bottom:2.933px; font-size:12pt; border-bottom:1px solid #000000" align=center>&#160;</P>
<P style="margin-top:17.6px; margin-bottom:0px; font-size:12pt" align=center><B>CURRENT REPORT</B></P>
<P style="margin:0px; font-size:12pt" align=center><B>Pursuant to Section&#160;13 or 15(d) of the</B></P>
<P style="margin:0px; font-size:12pt" align=center><B>Securities Exchange Act of 1934</B></P>
<P style="margin-top:17.6px; margin-bottom:0px; font-size:12pt" align=center><B>Date of report (Date of earliest event reported): January 15, 2021</B></P>
<P style="margin-top:0px; margin-bottom:2.933px; font-size:12pt; border-bottom:1px solid #000000" align=center>&#160;</P>
<P style="margin-top:32.267px; margin-bottom:0px; font-size:22pt" align=center><B>AMERISERV FINANCIAL, INC.</B></P>
<P style="margin:0px; font-size:12pt" align=center><B>(Exact Name of Registrant as Specified in Charter)</B>&#160;</P>
<P style="margin-top:0px; margin-bottom:2.933px; font-size:12pt; border-bottom:1px solid #000000" align=center>&#160;</P>
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</TD><TD style="margin-top:0px; padding:0px" valign=bottom width=7.133 height=4.4><P style="margin:0px; font-size:8pt">&#160;</P>
</TD><TD style="margin-top:0px; padding:0px" width=230.4 height=4.4><P style="margin:0px; font-size:8pt">&#160;</P>
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<TR><TD style="margin-top:0px; padding:0px" valign=top width=244.733 height=16.533><P style="margin:0px" align=center><BR></P>
<P style="margin:0px; font-size:12pt" align=center><U>&nbsp;</U><FONT style="font-size:10pt"><U>Pennsylvania</U></FONT><FONT style="font-size:10pt"><U> </U></FONT></P>
</TD><TD style="margin-top:0px; padding:0px" valign=bottom width=7.2 height=16.533><P style="margin:0px; font-size:12pt">&#160;</P>
</TD><TD style="margin-top:0px; padding:0px" valign=top width=230.467 height=16.533><P style="margin:0px" align=center><BR></P>
<P style="margin:0px" align=center><U>0-11204 </U></P>
</TD><TD style="margin-top:0px; padding:0px" valign=bottom width=7.133 height=16.533><P style="margin:0px; font-size:12pt">&#160;</P>
</TD><TD style="margin-top:0px; padding:0px" valign=top width=230.4 height=16.533><P style="margin:0px" align=center><BR></P>
<P style="margin:0px" align=center><U>25-1424278</U></P>
</TD></TR>
<TR><TD style="margin-top:0px; padding:0px" valign=top width=244.733 height=27.867><P style="margin:0px; font-size:8pt" align=center><B>(State or Other Jurisdiction</B></P>
<P style="margin-top:0px; margin-bottom:1px; font-size:8pt" align=center><B>of Incorporation)</B></P>
</TD><TD style="margin-top:0px; padding:0px" valign=bottom width=7.2 height=27.867><P style="margin:0px; font-size:8pt">&#160;</P>
</TD><TD style="margin-top:0px; padding:0px" valign=top width=230.467 height=27.867><P style="margin:0px; font-size:8pt" align=center><B>(Commission</B></P>
<P style="margin-top:0px; margin-bottom:1px; font-size:8pt" align=center><B>File Number)</B></P>
</TD><TD style="margin-top:0px; padding:0px" valign=bottom width=7.133 height=27.867><P style="margin:0px; font-size:8pt">&#160;</P>
</TD><TD style="margin-top:0px; padding:0px" valign=top width=230.4 height=27.867><P style="margin:0px; font-size:8pt" align=center><B>(I.R.S. Employer</B></P>
<P style="margin-top:0px; margin-bottom:1px; font-size:8pt" align=center><B>Identification No.)</B></P>
</TD></TR>
<TR><TD style="margin-top:0px; padding:0px" width=482.4 height=4.4 colspan=3><P style="margin:0px; font-size:8pt">&#160;</P>
</TD><TD style="margin-top:0px; padding:0px" width=237.533 height=4.4 colspan=2><P style="margin:0px; font-size:8pt">&#160;</P>
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<TR><TD style="margin-top:0px; padding:0px" valign=top width=482.4 height=34.533 colspan=3><P style="margin-top:0px; margin-bottom:1.2px; font-size:12pt" align=center><U>&nbsp;</U><FONT style="font-size:10pt"><U>Main &amp; Franklin Streets</U></FONT><FONT style="font-size:10pt"><U> </U></FONT></P>
<P style="margin-top:0px; margin-bottom:1.467px" align=center><U>&nbsp;Johnstown, Pennsylvania</U><FONT style="font-size:12pt"><U> </U></FONT></P>
</TD><TD style="margin-top:0px; padding:0px" valign=bottom width=7.133 height=34.533><P style="margin:0px; font-size:12pt">&#160;</P>
</TD><TD style="margin-top:0px; padding:0px" valign=bottom width=230.4 height=34.533><P style="margin:0px" align=center><U>15901 </U></P>
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<TR><TD style="margin-top:0px; padding:0px" valign=top width=482.4 height=13.2 colspan=3><P style="margin:0px; font-size:8pt" align=center><B>(Address of Principal Executive Offices)</B></P>
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</TD><TD style="margin-top:0px; padding:0px" valign=top width=230.4 height=13.2><P style="margin:0px; font-size:8pt" align=center><B>(Zip Code)</B></P>
</TD></TR>
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<DIV style="width:624px"><P style="margin:0px" align=center><BR></P>
<P style="margin:0px; font-size:8pt" align=center><B>Registrant<font style="font-family:'Arial Unicode MS,Times New Roman'">&#8217;</font>s Telephone Number, Including Area Code (814) 533-5300</B></P>
<P style="margin:0px" align=center><BR></P>
<P style="margin:0px; font-size:8pt" align=center><B>&nbsp;</B><U>&nbsp;&nbsp;N/A &nbsp;&nbsp;</U></P>
<P style="margin:0px; font-size:8pt" align=center><B>&nbsp;(Former Name or Former Address, if Changed Since Last Report)</B><FONT style="font-size:12pt">&#160;</FONT></P>
<P style="margin-top:0px; margin-bottom:2.933px; font-size:12pt; border-bottom:1px solid #000000" align=center>&#160;</P>
<P style="margin-top:14.667px; margin-bottom: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>
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<TR><TD style="margin-top:0px; padding:0px" width=28.8 height=16.533><P style="margin:0px"><BR></P>
</TD><TD style="margin-top:0px; padding:0px" valign=top width=28.8 height=16.533><P style="margin:0px; font-family:'MS Mincho,Times New Roman'"><font style="font-family:'Arial Unicode MS,Times New Roman'">&#9744;</font></P>
</TD><TD style="margin-top:0px; padding:0px" valign=top width=619.467 height=16.533><P style="margin:0px">Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)</P>
</TD></TR>
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<DIV style="width:624px"><P style="margin:0px">&#160;</P>
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<TR><TD style="margin-top:0px; padding:0px" width=28.8 height=16.533><P style="margin:0px"><BR></P>
</TD><TD style="margin-top:0px; padding:0px" valign=top width=28.8 height=16.533><P style="margin:0px; font-family:'MS Mincho,Times New Roman'"><font style="font-family:'Arial Unicode MS,Times New Roman'">&#9744;</font></P>
</TD><TD style="margin-top:0px; padding:0px" valign=top width=617.467 height=16.533><P style="margin:0px">Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)</P>
</TD></TR>
</TABLE>
<DIV style="width:624px"><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=28.8 /><TD width=28.8 /><TD width=662.4 /></TR>
<TR><TD style="margin-top:0px; padding:0px" width=28.8 height=16.533><P style="margin:0px"><BR></P>
</TD><TD style="margin-top:0px; padding:0px" valign=top width=28.8 height=16.533><P style="margin:0px; font-family:'MS Mincho,Times New Roman'"><font style="font-family:'Arial Unicode MS,Times New Roman'">&#9744;</font></P>
</TD><TD style="margin-top:0px; padding:0px" valign=top width=662.4 height=16.533><P style="margin:0px">Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</P>
</TD></TR>
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<DIV style="width:624px"><P style="margin:0px">&#160;</P>
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<TR><TD style="margin-top:0px; padding:0px" width=28.8 height=16.533><P style="margin:0px"><BR></P>
</TD><TD style="margin-top:0px; padding:0px" valign=top width=28.8 height=16.533><P style="margin:0px; font-family:'MS Mincho,Times New Roman'"><font style="font-family:'Arial Unicode MS,Times New Roman'">&#9744;</font></P>
</TD><TD style="margin-top:0px; padding:0px" valign=top width=662.4 height=16.533><P style="margin:0px">Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</P>
<P style="margin:0px"><BR></P>
</TD></TR>
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<DIV style="width:624px"><P style="margin:0px; padding-right:-48px" 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:0px" valign=top width=306><P style="margin:0px; padding-left:-43.2px; padding-right:-48px" align=center><U>Title Of Each Class</U></P>
</TD><TD style="margin-top:0px; padding:0px" valign=top width=135.2><P style="margin:0px; padding-left:-46px; padding-right:-48px" align=center><U>Trading Symbol</U></P>
</TD><TD style="margin-top:0px; padding:0px" valign=top width=284.8><P style="margin:0px; padding-left:-49.2px; padding-right:-48px" align=center><U>Name of Each Exchange On Which Registered</U></P>
</TD></TR>
<TR><TD style="margin-top:0px; padding:0px" valign=top width=306 height=20.667><P style="margin:0px; padding-left:-43.2px; padding-right:-48px" align=center>Common Stock</P>
</TD><TD style="margin-top:0px; padding:0px" valign=top width=135.2 height=20.667><P style="margin:0px; padding-left:-46px; padding-right:-48px" align=center>ASRV</P>
</TD><TD style="margin-top:0px; padding:0px" valign=top width=284.8 height=20.667><P style="margin:0px; padding-left:-49.2px; padding-right:-48px" align=center>The NASDAQ Stock Market LLC</P>
</TD></TR>
<TR><TD style="margin-top:0px; padding:0px" valign=top width=306 height=24.8><P style="margin:0px; padding-left:-43.2px; padding-right:-48px" align=center>8.45% Beneficial Unsecured Securities, Series A</P>
<P style="margin:0px; padding-left:-43.2px; padding-right:-48px" align=center>(AmeriServ Financial Capital Trust I)</P>
</TD><TD style="margin-top:0px; padding:0px" valign=bottom width=135.2 height=24.8><P style="margin:0px; padding-left:-46px; padding-right:-48px" align=center>ASRVP</P>
</TD><TD style="margin-top:0px; padding:0px" valign=bottom width=284.8 height=24.8><P style="margin:0px; padding-left:-49.2px; padding-right:-48px" align=center>The NASDAQ Stock Market LLC</P>
</TD></TR>
</TABLE>
<DIV style="width:624px"><P style="margin:0px"><BR></P>
<P style="margin:0px">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"><BR>
<BR></P>
<P style="margin:0px; page-break-before:always"><FONT style="background-color:#FFFFFF">Emerging growth company </FONT><FONT style="font-family:'MS Mincho,Times New Roman'; background-color:#FFFFFF"><font style="font-family:'Arial Unicode MS,Times New Roman'">&#9744;</font></FONT></P>
<P style="margin:0px"><BR></P>
<P style="margin:0px">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:'MS Mincho,Times New Roman'"><font style="font-family:'Arial Unicode MS,Times New Roman'">&#9744;</font></FONT></P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; border-top:1px solid #7F0000"><BR></P>
<P style="margin-top:0px; margin-bottom:13.333px"><BR>
<BR></P>
<P style=page-break-before:always;margin-top:0;margin-bottom:-4pt;font-size:4pt /><P style="margin-top:0px; margin-bottom:-2px; width:66px; float:left"><B>Item 7.01 </B></P>
<P style="margin-top:0px; margin-bottom:13.333px; padding-left:66px; text-indent:-2px"><B>Regulation FD Disclosure.</B></P>
<P style="margin-top:0px; margin-bottom:11.133px; text-indent:48px; clear:left">On January 15, 2021, AmeriServ Financial Inc. (the <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>) issued a press release regarding the execution of a definitive agreement regarding the acquisition by AmeriServ Financial Bank, the Company<font style="font-family:'Arial Unicode MS,Times New Roman'">&#8217;</font>s wholly owned banking subsidiary, of the branch and deposit customers of Riverview Bank located in Meyersdale, Pennsylvania and the deposit customers of Riverview Bank at the branch located in Somerset, Pennsylvania.</P>
<P style="margin-top:0px; margin-bottom:13.333px; text-indent:48px">A copy of the press release is attached hereto as Exhibit 99.1.</P>
<P style="margin-top:0px; margin-bottom:13.333px"><B>Item 9.01 &nbsp;&nbsp;&nbsp;&nbsp;Financial Statements and Exhibits.</B></P>
<P style="margin-top:0px; margin-bottom:-2px; width:48px; float:left">(d)</P>
<P style="margin:0px; text-indent:-2px">Exhibits:</P>
<P style="margin:0px; clear:left">&#160;</P>
<P style="margin-top:0px; margin-bottom:-2px; width:48px; float:left">99.1</P>
<P style="margin:0px; padding-left:48px; text-indent:-2px">Press release, dated January 15, 2021, of AmeriServ Financial,&#160;Inc.</P>
<P style="margin:0px; clear:left"><BR></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>
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<TR><TD style="margin-top:0px; padding:0px" valign=top width=426.2><P style="margin:0px">&#160;</P>
</TD><TD style="margin-top:0px; padding:0px" valign=top width=269.8 colspan=4><P style="margin:0px">AMERISERV FINANCIAL, INC.</P>
</TD></TR>
<TR><TD style="margin-top:0px; padding:0px" valign=top width=426.2><P style="margin:0px">&#160;</P>
</TD><TD style="margin-top:0px; padding:0px" valign=top width=35.8><P style="margin:0px">&#160;</P>
</TD><TD style="margin-top:0px; padding:0px" valign=top width=234 colspan=3><P style="margin:0px">&#160;</P>
</TD></TR>
<TR><TD style="margin-top:0px; padding:0px" valign=top width=426.2><P style="margin:0px">&#160;Dated:&#160; January 15, 2021</P>
</TD><TD style="margin-top:0px; padding:0px" valign=top width=35.8><P style="margin:0px">By:</P>
</TD><TD style="margin-top:0px; padding:0px; border-bottom:1px solid #000000" valign=top width=207.4 colspan=2><P style="margin:0px">/s/ Jeffrey A. Stopko</P>
</TD><TD style="margin-top:0px; padding:0px" valign=top width=26.6><P style="margin:0px">&#160;</P>
</TD></TR>
<TR><TD style="margin-top:0px; padding:0px" valign=top width=426.2><P style="margin:0px">&#160;</P>
</TD><TD style="margin-top:0px; padding:0px" valign=top width=35.8><P style="margin:0px">&#160;</P>
</TD><TD style="margin-top:0px; padding:0px" valign=top width=10.267><P style="margin:0px">&#160;</P>
</TD><TD style="margin-top:0px; padding:0px" valign=top width=223.733 colspan=2><P style="margin:0px">Jeffrey A. Stopko</P>
</TD></TR>
<TR><TD style="margin-top:0px; padding:0px" valign=top width=426.2><P style="margin:0px">&#160;</P>
</TD><TD style="margin-top:0px; padding:0px" valign=top width=35.8><P style="margin:0px">&#160;</P>
</TD><TD style="margin-top:0px; padding:0px" valign=top width=10.267><P style="margin:0px">&#160;</P>
</TD><TD style="margin-top:0px; padding:0px" valign=top width=223.733 colspan=2><P style="margin:0px">President and Chief Executive Officer</P>
<P style="margin:0px"><BR></P>
</TD></TR>
<TR><TD style="margin-top:0px; padding:0px" width=426.2><P style="margin:0px; font-size:8pt">&#160;</P>
</TD><TD style="margin-top:0px; padding:0px" width=35.8><P style="margin:0px; font-size:8pt">&#160;</P>
</TD><TD style="margin-top:0px; padding:0px" width=10.267><P style="margin:0px; font-size:8pt">&#160;</P>
</TD><TD style="margin-top:0px; padding:0px" width=197.133><P style="margin:0px; font-size:8pt">&#160;</P>
</TD><TD style="margin-top:0px; padding:0px" width=26.6><P style="margin:0px; font-size:8pt">&#160;</P>
</TD></TR>
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<DIV style="width:624px"><P style="margin:0px"><BR></P>
<P style="margin:0px; font-size:12pt">&nbsp;</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px"><BR>
<BR></P>
<P style="margin:0px; page-break-before:always">Exhibit 99.1</P>
<P style="margin:0px" align=center><BR></P>
<P style="margin:0px; padding-left:-24px; padding-right:-42px; font-family:'Times,Times New Roman'; font-size:9pt" align=center><B>AMERISERV FINANCIAL, INC. TO ACQUIRE A BRANCH AND DEPOSITS OF RIVERVIEW FINANCIAL CORPORATION</B></P>
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<P style="margin:0px; padding-left:-24px; padding-right:-30px; font-family:'Times,Times New Roman'; font-size:9pt" align=justify><B>JOHNSTOWN</B><B>, PA, </B><B>January 15, 2021</B><B> </B><font style="font-family:'Arial Unicode MS,Times New Roman'">&#8211;</font> AmeriServ Financial, Inc. (NASDAQ: ASRV), the parent company of AmeriServ Financial Bank, and Riverview Financial Corporation (NASDAQ: RIVE), the parent company of Riverview Bank and its operating divisions, jointly announced today the execution of a definitive agreement whereby AmeriServ will acquire Citizen<font style="font-family:'Arial Unicode MS,Times New Roman'">&#8217;</font>s Neighborhood Bank<font style="font-family:'Arial Unicode MS,Times New Roman'">&#8217;</font>s (CNB), an operating division of Riverview Bank, branch and deposit customers in Meyersdale, as well as the deposit customers of CNB<font style="font-family:'Arial Unicode MS,Times New Roman'">&#8217;</font>s leased branch in the Borough of Somerset. &nbsp;Both of these locations are in Somerset County in southwestern Pennsylvania.</P>
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<P style="margin:0px; padding-left:-24px; padding-right:-30px; font-family:'Times,Times New Roman'; font-size:9pt" align=justify>As of the agreement date, the related deposits total approximately $48 million and will be acquired for a 3.71% deposit premium. &nbsp;The Meyersdale branch will continue in operation under the AmeriServ name, and Somerset branch customers will be serviced from the neighboring full service AmeriServ office at 108 West Main Street. &nbsp;On a pro forma basis, ASRV will have the fourth largest deposit market share in Somerset County with four branches and $150 million in deposits. This transaction will be immediately accretive to AmeriServ earnings and the approximate 2% dilution to ASRV<font style="font-family:'Arial Unicode MS,Times New Roman'">&#8217;</font>s tangible book value will be earned back in less than three years. </P>
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<P style="margin:0px; padding-left:-24px; padding-right:-30px; font-family:'Times,Times New Roman'; font-size:9pt" align=justify>Jeffrey A. Stopko, President and CEO of AmeriServ said of the transaction: <font style="font-family:'Arial Unicode MS,Times New Roman'">&#8220;</font>We know these markets very well and we are excited about this opportunity that fits in so perfectly with our operational strategies for growth; adding a profitable branch and additional deposits in our core markets. &nbsp;We are looking forward to welcoming the branch employees and customers (many of whom were customers of the former Citizens National Bank of Meyersdale) into the AmeriServ family.<font style="font-family:'Arial Unicode MS,Times New Roman'">&#8221;</font></P>
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<P style="margin:0px; padding-left:-24px; padding-right:-30px; font-family:'Times,Times New Roman'; font-size:9pt" align=justify>Brett D. Fulk, President and CEO of Riverview commented: <font style="font-family:'Arial Unicode MS,Times New Roman'">&#8220;</font>This transaction is consistent with our ongoing focus upon operational efficiencies, which includes a comprehensive retail office repositioning and brand consolidation strategy. &nbsp;We are pleased to have found the right partner in AmeriServ Financial Bank for our CNB deposit customers and retail employees. &nbsp;I am confident the transition from CNB will be seamless for our customers and employees.<font style="font-family:'Arial Unicode MS,Times New Roman'">&#8221;</font></P>
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<P style="margin:0px; padding-left:-24px; padding-right:-30px; font-family:'Times,Times New Roman'; font-size:9pt" align=justify>The transaction is subject to regulatory approvals and satisfaction of customary closing conditions and is expected to close in the second quarter of 2021. Stevens &amp; Lee is serving as legal counsel and Griffin Financial Group is serving as financial advisor to AmeriServ. Luse Gorman, PC is serving as legal counsel and Ategra Capital Management is serving as financial advisor to Riverview.</P>
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<P style="margin:0px; padding-left:-24px; padding-right:-30px; font-family:'Times,Times New Roman'; font-size:9pt" align=justify><B>About AmeriServ Financial, Inc.</B></P>
<P style="margin:0px; padding-left:-24px; padding-right:-30px; font-family:'Times,Times New Roman'; font-size:9pt" align=justify>AmeriServ Financial, Inc. is the parent of AmeriServ Financial Bank and AmeriServ Trust and Financial Services Company in Johnstown, PA. &nbsp;The Company'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, 2020, AmeriServ had total assets of $1.3 billion and a tangible book value of $5.36 per common share. &nbsp;The Company<font style="font-family:'Arial Unicode MS,Times New Roman'">&#8217;</font>s common stock trades on the NASDAQ Global Market under the symbol <font style="font-family:'Arial Unicode MS,Times New Roman'">&#8220;</font>ASRV<font style="font-family:'Arial Unicode MS,Times New Roman'">&#8221;</font>. &nbsp;For more information, visit <U>www.ameriserv.com</U><U></U>.</P>
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<P style="margin:0px; padding-left:-24px; padding-right:-30px; font-family:'Times,Times New Roman'; font-size:9pt" align=justify><B>About Riverview Financial Corporation</B></P>
<P style="margin:0px; padding-left:-24px; padding-right:-30px; font-family:'Times,Times New Roman'; font-size:9pt" align=justify>Riverview Financial Corporation is the parent company of Riverview Bank. An independent community bank, Riverview Bank serves the Pennsylvania market areas of Berks, Blair, Bucks, Centre, Clearfield, Cumberland, Dauphin, Huntingdon, Lebanon, Lehigh, Lycoming, Perry, Schuylkill and Somerset Counties through 27 community banking offices and three limited purpose offices. Each office, interdependent with the community, offers a comprehensive array of financial products and services to individuals, businesses, not-for-profit organizations and government entities. Riverview's business philosophy includes offering direct access to senior management and other officers and providing friendly, informed and courteous service, local and timely decision making, flexible and reasonable operating procedures and consistently applied credit policies. The Company's common stock trades on the NASDAQ Global Market under the symbol &quot;RIVE&quot;. The Investor Relations site can be accessed at <U>https://www.riverviewbankpa.com/</U><U></U>.</P>
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<P style="margin:0px; padding-left:-24px; padding-right:-30px; font-family:'Times,Times New Roman'; font-size:9pt" align=justify><B>Caution Regarding Forward-Looking Statements</B></P>
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<P style="margin:0px; padding-left:-24px; padding-right:-30px; font-family:'Times,Times New Roman'; font-size:9pt" align=justify>This release contains forward-looking statements as defined in the Securities Exchange Act of 1934 and is subject to the safe harbors created therein. &nbsp;Such statements are not historical facts and include expressions about management's expectations, strategies and similar matters. &nbsp;Forward-looking statements may be identified by words such as &quot;continuing,&quot; &quot;expect,&quot; &quot;look,&quot; &quot;believe,&quot; &quot;anticipate,&quot; &quot;may,&quot; &quot;will,&quot; &quot;should,&quot; &quot;projects,&quot; &quot;strategy,&quot; or similar statements. &nbsp;Actual results may differ materially from such forward-looking statements, and no reliance should be placed on any forward-looking statement. &nbsp;Forward-looking statements involve risks and uncertainties that could cause results to differ materially from current expectations. &nbsp;Such risks and uncertainties are described in the filings made by AmeriServ and Riverview with the Securities and Exchange Commission, including their respective Annual Reports on Form 10-K for the year ended December 31, 2019. &nbsp;Forward-looking statements are based on the beliefs and assumptions of management and on currently available information. The statements in this release are made as of the date of this press release, even if subsequently made available by on a website or otherwise. &nbsp;AmeriServ and Riverview undertake no responsibility to publicly update or revise any forward-looking statement included herein to reflect future events or developments.</P>
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