JOHNSTOWN, Pa., July 5 /PRNewswire-FirstCall/ --
AmeriServ Financial, Inc. (Nasdaq: ASRV) announced that effective immediately
its Board of Directors has appointed Deloitte & Touche LLP as the Company's
independent auditor replacing Arthur Andersen LLP. This decision followed
ASRV's review of proposals from independent accountants to audit ASRV's
financial statements for the fiscal years ending December 31, 2002 through
December 31, 2005. The decision to engage Deloitte & Touche LLP was approved
by ASRV's Board of Directors based upon the recommendation of its Audit
Committee.
"We are pleased to select Deloitte & Touche LLP as our independent
auditor," said Orlando B. Hanselman, Chairman, President and CEO. "We look
forward to developing a strong independent working relationship with Deloitte
& Touche and to continuing to demonstrate to our shareholders our adherence to
the highest standards of business and accounting practices." To help
facilitate a smooth transition to Deloitte & Touche, the Company plans to
release its second quarter earnings on July 23, 2002.
AmeriServ Financial, Inc., a financial holding company is the parent of
AmeriServ Financial (the Bank) and AmeriServ Trust & Financial Services in
Johnstown, AmeriServ Associates of State College, and AmeriServ Life Insurance
Company in Arizona. The AmeriServ Financial, Inc. customer reach is extensive
beyond its primary dominant market of Cambria and Somerset Counties. The
Bank's mortgage subsidiary also has retail mortgage operations based in
Greensburg, State College, and Altoona. Standard Mortgage Corporation (also a
subsidiary of the Bank) has mortgage servicing operations based in Atlanta,
Georgia. AmeriServ Associates, the consulting subsidiary, has financial
services industry clients that are located in Pennsylvania, Ohio and Michigan.
AmeriServ Trust and Financial Services, with $1.2 billion of client assets
under management, has union investor clients in Pennsylvania, Ohio, Michigan,
West Virginia, and Indiana.
SOURCE AmeriServ Financial, Inc.
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Related links:
http://www.ameriservfinancial.com
CONTACT:
Jeffrey A. Stopko, Senior Vice President &
Chief Financial Officer of AmeriServ Financial, +1-814-533-5310
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