AmeriServ separates President & CEO of trust subsidiary James Huerth; expects $256K severance

AMERISERV FINANCIAL INC /PA/

James T. Huerth, President & CEO of AmeriServ Trust and Financial Services Company, separated on Aug 28, 2023.
Entitled to severance of 0.75x base salary plus 9 months health benefits; total ~$256,000 contingent on release.
Company expects ongoing cost savings from consolidation of executive responsibilities.
No replacement named; management to allocate duties.

item 5.02 item 9.01

Executive movements

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Departed

James T. Huerth

President and CEO of AmeriServ Trust and Financial Services Company

ASRV · AMERISERV FINANCIAL INC /PA/

Effective: 2023-08-28
Filed: August 29, 2023, 7:59 PM ET

On August 28, 2023, James T. Huerth, President and CEO of AmeriServ Trust and Financial Services Company, a wholly owned subsidiary of AmeriServ Financial, Inc. (the “Company”), was separated from employment with the Company and its affiliates.

Key facts

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Executive change SEC 8-K Item 5.02 confidence 0.95

James T. Huerth departed as President and CEO of AmeriServ Trust and Financial Services Company at AMERISERV FINANCIAL INC /PA/.

Action: separated
Role: President and CEO of AmeriServ Trust and Financial Services Company

Exact text from the filing

On August 28, 2023, James T. Huerth, President and CEO of AmeriServ Trust and Financial Services Company, a wholly owned subsidiary of AmeriServ Financial, Inc. (the “Company”), was separated from employment with the Company and its affiliates.

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Source: SEC EDGAR

accession 0001104659-23-096178

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