AmeriServ Financial, Inc. and SB Value Partners, L.P. ("SBV") announced that they entered into an agreement that amends and restates the previously executed and disclosed April 2025 consulting agreement between the parties. The amended agreement expands the nature and scope of the consulting services to be provided to the Company by SBV over the four-year term of the agreement. The amended agreement is intended to strengthen and expand the strategic partnership with SBV and results from the highly professional and excellent collaboration between both firms over the past eight months.

"SBV is excited to help AmeriServ increase its' intrinsic value per share by improving efficiency optimization across the bank platform and strengthening business development activity in its' Trust and Wealth Management business lines," said Scott Barnes, Managing Partner of SBV.  "We are thrilled to cement our long-term relationship with the Company – both as a large shareholder and an important business partner."

"We at AmeriServ are fortunate, as a community bank, to operate a large, profitable and unique wealth management business. With SBV, given the advantage of their many years of professional experience in the community banking industry, we are successfully augmenting and improving our efforts in this area to grow at scale – locally, regionally, and nationally," said J. Michael Adams, Jr., AmeriServ's Chairman of the Board of Directors. "The SBV relationship has proven to be invaluable in key and important areas of our wealth management business and most notably in the new formal alliance between AmeriServ Wealth Advisors and Federated Hermes, Pittsburgh, PA, announced late last year. We are excited to further build on this positive momentum in 2026."