AmeriServ Financial Announces New Labor Contract

Core Points - AmeriServ Financial Bank and United Steelworkers Local 2635-06 have ratified a new four-year contract, effective until October 16, 2029, which was accepted by unionized employees on October 12, 2025 [1][2] - The contract includes annual wage increases of 4% for the first three years and 3% for the fourth year, while existing healthcare and retirement benefits remain unchanged for union employees [2] Company Overview - AmeriServ Financial, Inc. is the parent company of AmeriServ Financial Bank, located in Johnstown, PA, providing full-service banking and wealth management through 16 community offices in southwestern Pennsylvania and Hagerstown, Maryland [3] - As of June 30, 2025, AmeriServ had total assets of $1.45 billion and a book value of $6.71 per common share, and is publicly traded on NASDAQ under the symbol ASRV [3]