AmeriServ Financial, Inc. announced it has signed a new advisory agreement with significant shareholder SB Value Partners L.P. (SBV). This agreement is designed to help grow and optimize AmeriServ's $2.4 billion assets under management in its trust and wealth management business.
SBV, which holds approximately 8.2% of AmeriServ's outstanding common stock, will provide portfolio advisory services. The collaboration aims to significantly increase assets under management and the corresponding free cash flow generated from the wealth management division.
AmeriServ and SBV also mutually agreed to extend their Cooperation Agreement, originally signed on April 18, 2024, through 2029. This extension underscores a continued focus on improving performance and enhancing AmeriServ’s value through constructive engagement with a major shareholder.
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