Feature News

JOHNSTOWN, Pa., Oct. 31 /PRNewswire-FirstCall/ -- AmeriServ Financial, Inc. (Nasdaq: ASRV) -- The Board of Directors of AmeriServ Financial, Inc. declared a $0.025 per share common stock cash dividend at a meeting held October 30, 2008. The cash dividend is payable November 24, 2008 to shareholders of record on November 13, 2008. This cash dividend represents a 4.7% annualized yield using the October 30, 2008 closing price of $2.11.

Allan R. Dennison, President and CEO commented, "As a result of our improved profitability, stable asset quality, and strong capital position, we are pleased to declare this common stock cash dividend."

AmeriServ Financial, Inc. is the parent of AmeriServ Financial Bank and AmeriServ Trust and Financial Services Company in Johnstown. The Company's subsidiaries provide full-service banking and trust services through eighteen community offices in southwestern Pennsylvania. At September 30, 2008, AmeriServ had total assets of $911 million and shareholders equity of $94 million or $4.29 per common share. For the nine months ended September 30, 2008, the Company reported net income of $3.9 million an 85% increase over the same 2007 period.