AMERISERV FINANCIAL INC /PA/
For the period ended Dec 31, 2024. Filed Mar 19, 2025.
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FY2024 · Filed Mar 19, 2025
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PART II
ITEM 5. MARKET FOR THE REGISTRANT’S COMMON EQUITY, RELATED STOCKHOLDER MATTERS AND ISSUER PURCHASES OF EQUITY SECURITIES
COMMON STOCK
As of March 10, 2025, the Company had 2,439 shareholders of record for its common stock. The Company’s common stock is traded on The NASDAQ Stock Market under the symbol “ASRV.” The following table sets forth the actual high and low closing prices and the cash dividends declared per share for the periods indicated:
| · · · · · · · · · | ||||||
|---|---|---|---|---|---|---|
| · · · · · · · · CASH | ||||||
| · · PRICES · · DIVIDENDS | ||||||
| | HIGH | LOW | DECLARED | |||
| Year ended December 31, 2024: | | | | | | |
| First Quarter | | $3.27 | | $2.39 | | $0.03 |
| Second Quarter | | 2.86 | | 2.26 | | 0.03 |
| Third Quarter | | 2.79 | | 2.27 | | 0.03 |
| Fourth Quarter | | 3.04 | | 2.58 | | 0.03 |
| Year ended December 31, 2023: | | | | |||
| First Quarter | | $4.09 | | $3.05 | | $0.03 |
| Second Quarter | | 3.28 | | 2.46 | | 0.03 |
| Third Quarter | | 3.33 | | 2.41 | | 0.03 |
| Fourth Quarter | | 3.28 | | 2.51 | | 0.03 |
The declaration of cash dividends on the Company’s common stock is at the discretion of the Board, and any decision to declare a dividend is based on a number of factors, including, but not limited to, earnings, prospects, financial condition, regulatory capital levels, applicable covenants under any credit agreements and other contractual restrictions, Pennsylvania law, federal and Pennsylvania bank regulatory law, and other factors deemed relevant. Additionally, the Company does not currently have a common stock repurchase program authorized.
On June 13, 2024, the Company entered into a Stock Purchase Agreement with Driver Opportunity Partners (Driver), in connection with a settlement agreement. In accordance with the agreement, the Company repurchased 628,003 shares of common stock from Driver at a per share price of $2.38. The Driver share repurchase was authorized by the Board of Directors.
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