US-based bank holding company AmeriServ Financial, Inc. (NASDAQ: ASRV) has signed a new advisory agreement with significant shareholder SB Value Partners L.P. to help grow and optimize its USD 2.4bn assets under management in its trust and wealth management business, the company said.

Also, both AmeriServ and SBV have mutually agreed to extend their Cooperation Agreement, originally signed on April 18, 2024, through 2029.

SBV currently owns approximately 8.2% of the company's outstanding common stock.

The complete Advisory Agreement, which details all relevant financial and contractual terms between the company and SBV, as well as details around the extension of the Cooperation Agreement, will be included on the company's Current Report on form 8-K filed with the US Securities and Exchange Commission.

AmeriServ Financial, Inc. is the parent of AmeriServ Financial Bank, located in Johnstown, PA. The bank provides full-service banking and wealth management services through 16 community offices in southwestern Pennsylvania and Hagerstown, Maryland.

The company also operates loan production offices in Altoona and Monroeville, Pennsylvania. At December 31, 2024, AmeriServ had total assets of USD 1.4bn and a book value of USD 6.49 per common share.

AmeriServ Financial, Inc. is publicly traded on the NASDAQ stock exchange under the symbol ASRV.

SB Value Partners, L.P. provides transparent portfolio advisory services and FinTech investing to community financial institutions across the country and specializes in assisting these institutions to generate additional ROA and ROE from their investment portfolios.

Founded in January 2000, SBV has grown to advise over USD 5.9bn of community investment portfolios and USD 296m directly for banks and its customers.