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Ameriserv Financial Inc (ASRV.OQ)

ASRV.OQ on NASDAQ Stock Exchange Global Market

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15 Dec 2017
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Summary

Name Age Since Current Position

Craig Ford

85 2004 Non-Executive Independent Chairman of the Board

Jeffrey Stopko

52 2015 President, Chief Executive Officer, Director

Michael Lynch

54 2015 Chief Financial and Investment Officer, Senior Vice President

James Huerth

53 2016 President and Chief Executive Officer of AmeriServ Trust and Financial Services Company

Michael Baylor

51 2015 Executive Vice President, Chief Commercial Banking Officer

Carolyn Concannon

2015 Executive Vice President, Chief Risk Officer

Allan Dennison

68 2009 Director

J. Michael Adams

53 2000 Independent Director

Daniel DeVos

72 1991 Independent Director

Bruce Duke

71 1987 Independent Director

James Edwards

75 1984 Independent Director

Kim Kunkle

60 1984 Independent Director

Margaret O'Malley

54 1997 Independent Director

Mark Pasquerilla

57 1997 Independent Director

Sara Sargent

67 1996 Independent Director

Thomas Slater

72 1980 Independent Director

Robert Wise

72 2000 Independent Director

Biographies

Name Description

Craig Ford

Mr. Craig G. Ford is the Non-Executive Independent Chairman of the Board of Ameriserv Financial, Inc. Mr. Ford is currently the Non-Executive Chairman of ASRV, the Bank and the Trust Company. From December 2002 until March 2004, he served as the President & CEO of ASRV and the Bank. From 1992 to December 2002 and since his retirement from ASRV, he has acted as an independent consultant to small to mid-cap financial institutions and advised them on strategic planning, technology planning, business plan development and execution, and management-board coordination. From 1987 to 1992, Mr. Ford was a Group Executive Vice President of Meridian Bancorp, where he was responsible for technology and government relations. Prior to that, Mr. Ford had a long career with Mellon Bank, where he led the bank’s community banking division for 10 years until he began serving as the Chairman’s liaison with acquired companies. Mr. Ford has also been prominent in bank industry activities, including a term as President of the Pennsylvania Bankers Association, Chairman of the Pennsylvania Bankers Association Government Relations Council, and Chairman of the American Bankers Association’s Membership Criteria Committee. Mr. Ford also served as Co-Chairman of the Committee for Efficiency in Government of the Office of Management of the Budget (1974 – 1976), as well as serving as a member of the Financial Council of the American Management Association, and as a member of the USPS Treasury Task Force (1970 – 1975). He received his bachelor of science degree in economics from the Wharton School of Business of the University of Pennsylvania.

Jeffrey Stopko

Mr. Jeffrey A. Stopko, CPA is President, Chief Executive Officer, Director of the Company. He was Interim President, Chief Executive Officer of Ameriserv Financial, Inc. He has directed all financial and investment activities for AmeriServ a publicly traded financial institution. A Johnstown native and a graduate of Bucknell University with a Bachelor of Science degree in Business Administration, he guided a corporate balance sheet restructuring at AmeriServ that reduced the company's risk profile and provided the foundation for improved earnings. Stopko, a licensed certified public accountant, has been CFO with AmeriServ since 1997.

Michael Lynch

Mr. Michael D. Lynch., MD, PhD. has been promoted as Chief Financial and Investment Officer, Senior Vice President of the Company. He was Interim Chief Financial Officer, Senior Vice President of Ameriserv Financial, Inc. Mr. Lynch has served as Senior Vice President and Chief Investment and Risk Officer of the Company since 2013. He had been Vice President and Chief Investment and Risk Officer of the Company from 2005 to 2013. Mr. Lynch is not party to any employment agreement or change in control agreement with the Company.

James Huerth

Mr. James T. Huerth is President and Chief Executive Officer of AmeriServ Trust and Financial Services Company., the subsidiary of the Company. He served as Interim President and Chief Executive Officer of AmeriServ Financial Bank of AmeriServ Financial, Inc. Mr. Huerth became the interim President and Chief Executive Officer of AmeriServ Financial Bank on January 9, 2015 following the resignation of Mr. Wilson. Prior to this appointment, Mr. Huerth had served as Executive Vice President and Chief Commercial Banking Officer of the Bank since 2009. Mr. Huerth was Director of Corporate Banking, Senior Executive Vice President of StellarOne from 2008 to 2009, and President and CEO and a member of the board of directors of Planters Bank and Trust Co. from 2004 to 2008.

Michael Baylor

Mr. Michael R. Baylor has been promoted as Executive Vice President, Chief Commercial Banking Officer of the Company. He was Senior Vice President and Regional President of AmeriServ Financial Bank of AmeriServ Financial, Inc. Mr. Lynch joined the company in 1983 and was previously senior vice president, chief investment and risk officer.

Carolyn Concannon

Ms. Carolyn Concannon has been promoted as Executive Vice President, Chief Risk Officer of the Company. Ms. Concannon joined the company in 1984 and most recently served as senior vice president - chief credit officer.

Allan Dennison

Mr. Allan R. Dennison is Director of Ameriserv Financial, Inc. Since November 2012, Mr. Dennison has served as Non-Executive Vice Chairman of the Board of Directors of ASRV, the Bank, and the Trust Company. Previously, from February 2004 until October 2009, Mr. Dennison served as President & CEO of ASRV and its subsidiaries. Mr. Dennison has more than 40 years of banking experience, and his prior positions included being President and CEO of Swineford National Bank, a community bank affiliated with Fulton Financial Corporation, and senior positions with Mellon Bank of Pittsburgh and Huntington National Bank.

J. Michael Adams

Mr. J. Michael Adams, Jr. Esq. is an Independent Director of Ameriserv Financial, Inc. Mr. Adams is the owner of Elizabeth Milling Company, a manufacturing and packaging company of ice-melt products with facilities in Smithton and Donora, Pennsylvania. He is also the owner and managing member of NATASH LP which is a real estate investment company. He formerly served as the founder and managing member of Mike Adams & Associates LLC, a Pittsburgh based law firm. He practiced law for 24 years prior to his retirement which included serving as legal counsel to both private businesses and public institutions, boards and commissions. Mr. Adams also previously served as chairman of the board of directors of the Daily News Publishing Co., a privately held company. He received a B.S. from Carnegie Mellon University and a J.D. from University of Pittsburgh School of Law. His corporate, legal and board experience provide Mr. Adams skills relevant to his service on our audit and nominating committees respectively. Because we are a public company operating in a highly regulated industry, we believe Mr. Adams’ experience and perspective is valuable not only as a member of the board but also as a member of multiple board committees.

Daniel DeVos

Mr. Daniel R. DeVos is an Independent Director of Ameriserv Financial, Inc. Mr. DeVos is the former President & CEO of Concurrent Technologies Corporation (“CTC”), a position he held from 1988 until he retired in January 2009. He continues to serve as a director of CTC, a nonprofit research and development organization. Under Mr. DeVos’ leadership, CTC grew from 15 to 1,400 employees at 50 locations across the country with annual revenues in excess of $240 million and achieved a national reputation for advanced computing, telecommunications, process modeling, materials development and environmental technology applications. In addition, Mr. DeVos has played an important role in the revitalization efforts in the Johnstown area, including serving as Chairman of the Johnstown Chamber of Commerce and the Johnstown chapter of the United Way.

Bruce Duke

Dr. Bruce E. Duke III, M.D., is an Independent Director of AmeriServ Financial, Inc. Dr. Duke is currently retired from practice. Until April 2011, he was a surgeon with Conemaugh Health System (“CHS”). Since July 2009, Dr. Duke has served on the finance and capital improvement committees for CHS’s holding company. Prior to his employment with CHS in 2008, he was the President of Valley Surgeons, Inc., a 10 employee firm with 3 surgeons, where he oversaw the business matters for the firm and acted as a fiduciary for its pension plan.

James Edwards

Mr. James E. Edwards, Sr. is an Independent Director of AmeriServ Financial, Inc. Since 2010, Mr. Edwards has served as Treasurer of the Cambria/Somerset Counties Authority, a regional water authority. From 1980 to 1997, he served as President and CEO of WJAC, Inc., the NBC affiliated television/radio broadcast company serving the Johnstown-Altoona-State College, Pennsylvania television market. He also served on the Board of Directors of the Johnstown Tribune Publishing Co., WJAC, Inc.’s parent company, as well as Treasurer and Vice Chairman of the NBC Television Network Affiliates Board. From 1990 to 1996 he served as Chairman of JARI, Pennsylvania region. From 2007 to 2010, he also served as JARI’s Director of Entrepreneurial Development. Since 1984, he has served on the Board of Directors of each of Johnstown Savings Bank and AmeriServ Financial, Inc., including serving on the Executive Committee of both boards. Mr. Edwards brings to the Board the business experience he gained during a 40 year career in the newspaper, radio, and television business; several years of experience as a director of companies involved in the refractory, men and women’s clothing, soft drink bottling, travel agency, and investment company business; as well as the experience gained by serving as Chairman or Vice-Chairman of national and state print and broadcast media organizations; and over 30 years of experience with community service organizations, including Chairman of the Greater Johnstown Cambria County Chamber of Commerce, Chairman of the East Coast Hockey League’s Board of Governors, a professional hockey league, Chairman of the Construction Oversight Committee and Project Administrator for the $34 million dollar Johnstown Renaissance Complex Project, and President of the 17,000 member Pennsylvania Jaycees.

Kim Kunkle

Mr. Kim W. Kunkle is an Independent Director of AmeriServ Financial, Inc. Since 1984, Mr. Kunkle has served as the President & CEO of Laurel Holdings, Inc. (“Laurel Holdings”), a closely-held holding company with investments in underground utility construction, plumbing, janitorial services, metal machining, industrial tool distribution, pipeline rehabilitation, turf management and electronic assembly in the defense industry.

Margaret O'Malley

Ms. Margaret A. O'Malley Esq. is an Independent Director of AmeriServ Financial, Inc. Ms. O’Malley has over 29 years of experience in private legal practice at, and is the owner of, Yost & O’Malley, a law firm in Johnstown, Pennsylvania, where she advises both individuals and corporate for profit and non-profit entities. She is licensed to practice law in Pennsylvania and the District of Columbia, and is an experienced litigator in both state and federal courts. Since 2000, she has been the Chair of ASRV’s compensation and corporate governance committees and the Vice-Chair of its executive committee. She served as Vice-Chair of the audit committee from 2000 until 2013 when she became the Chair of the audit committee. Because we are a public company operating in a highly regulated industry, we believe Ms. O’Malley’s experience and perspective as an attorney is valuable not only as a member of the board but also in her continued role as Chair of the compensation, nominating and corporate governance committees. With ASRV’s increased regulatory and corporate governance measures passed in recent years, we believe that Ms. O’Malley’s continued leadership in these committee roles remains important to the board’s success.

Mark Pasquerilla

Mr. Mark E. Pasquerilla is an Independent Director of AmeriServ Financial, Inc. Mr. Pasquerilla has been an officer and director of Pasquerilla Enterprises, LP, a Johnstown-based real estate owner and manager and also a private financial investor, and its subsidiaries since 2006 (CEO since 2013, and President from 2006 to 2013). Mr. Pasquerilla has been an officer of Crown American Enterprises, Inc. (Crown American), a private financial investor, from 1992 to 2013 and a director from 2012 to 2013. From April 1999 until December 2006, he served as Chairman and CEO of its affiliates, Crown Holding Company and Crown Hotel Holding Company. From 1992 to December 2006, Mr. Pasquerilla also served as President of Crown Holding Company and its various subsidiaries. From April 1999 until it was until it was acquired by Pennsylvania Real Estate Investment Trust (PREIT) in November 2003, he served as Chairman and CEO of Crown American Realty Trust and as a trustee from 1993 until 2003. Mr. Pasquerilla has been a trustee of PREIT since December 2003. In connection with his work as an officer and trustee of Crown American and PREIT, Mr. Pasquerilla has acquired substantial experience in real estate finance. Because, like most banks, ASRV has many real estate loans, we believe this experience is important to the board of directors. Mr. Pasquerilla is Chairman of ASRV’s Executive Committee.

Sara Sargent

Ms. Sara A. Sargent is an Independent Director of AmeriServ Financial, Inc. Ms. Sargent is the owner and President of Sargent’s Court Reporting Service, Inc., Sargent’s Personnel Agency, Inc., and Sargent’s Transcription Service, Inc. She is active in all phases of the business, including operations, marketing, financial analysis, and contract negotiations. Ms. Sargent has won numerous business-related awards, including the Small Business Person of the Year for the Commonwealth of Pennsylvania and being selected by Ernst & Young and Merrill Lynch as Entrepreneur of the Year for Western Pennsylvania and West Virginia.

Thomas Slater

Mr. Thomas C. Slater is an Independent Director of AmeriServ Financial, Inc. Mr. Slater has been the owner, President & Director of Slater Laboratories, Inc. since 1970. Mr. Slater serves on ASRV’s compensation and nominating committees, and is Chairman of the investment/ALCO committee.

Robert Wise

Mr. Robert L. Wise is an Independent Director of AmeriServ Financial, Inc. Mr. Wise is the former President of Pennsylvania Electric Company, Metropolitan Edison Company, Jersey Central Power and Light Company, GPU Genco, Inc., and former CEO of GPU International, each of them a subsidiary of GPU, Inc., a large public energy conglomerate of 14,000 employees, serving more than 4 million customers. GPU, Inc., merged with FirstEnergy, Inc., in 2001. Mr. Wise's executive experience at subsidiaries of a large publicly traded company is valuable to ASRV as a board member, and more specifically, as a member of our audit committee.