---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-24-032044"
form_type: "8-K"
ticker: "ASRV"
cik: "0000707605"
company_name: "AMERISERV FINANCIAL INC /PA/"
filed_at: "2024-03-08T23:59:59+00:00"
generated_at: "2026-06-05T00:54:12.014368+00:00"
event_type: "other_material"
sentiment: "negative"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# AmeriServ reports FY 2023 net loss of $3.3M; activist Driver nominates three directors for 2024 meeting

## Summary
- Full-year 2023 net loss of $3.3M ($0.20 EPS) vs record net income of $7.4M ($0.43 EPS) in 2022.
- Q4 2023 net loss of $5.3M driven by increased provision for credit losses on Rite Aid bankruptcy and portfolio repositioning.
- Total deposits grew $50M (4.5%) YoY; total loans increased $36M (3.6%) in Q4 2023.
- Quarterly dividend maintained at $0.03 per share; annual meeting moved to August 20, 2024 to allow SLC completion.
- Activist hedge fund Driver Management nominated three candidates; board recommends its own slate in upcoming proxy.

## SEC filing metadata
- accession: 0001104659-24-032044
- form_type: 8-K
- ticker: ASRV
- cik: 0000707605
- company_name: AMERISERV FINANCIAL INC /PA/
- filed_at: 2024-03-08T23:59:59+00:00
- event_type: other_material
- sentiment: negative
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/707605/000110465924032044/0001104659-24-032044-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/707605/000110465924032044/tm248241d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-24-032044
- JSON: https://secwatch.observer/filing/0001104659-24-032044.json
- Plain text: https://secwatch.observer/filing/0001104659-24-032044.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.