USBANCORP, Inc. Announces Plans To Open Harrisburg Branch Office

Apr 24, 2001, 01:00 ET from USBANCORP, Inc.

    JOHNSTOWN, Pa., April 24 /PRNewswire/ -- USBANCORP, Inc. (Nasdaq:   UBAN),
 which will be renamed AmeriServ Financial, Inc. on May 7, 2001, today
 announced plans to continue its geographic expansion eastward by opening a new
 office in the state capitol.  The full service office will primarily cater to
 the financial needs of union organizations and their members in Harrisburg and
 Dauphin county, and will be AmeriServ Financial's first specialty branch
 office primarily focused on services to unions.  The office opening, subject
 to regulatory approval, is scheduled for August.
     The branch will be located at the corner of Third and State streets. The
 bank separated from non-unionized affiliate Three Rivers Bank in April 2000,
 in part to promote their own union affiliation and to attract greater union
 business.  The specialty office will service any business, individual, or
 organization whether union or non-union.  The uniqueness of the specialty
 office is the chosen location within an area of concentrated union presence,
 the offering of tailored financial services to meet union needs as delivered
 by union bankers, and the dedicated outreach calling program to build union
 business.  AmeriServ Financial is one of only 13 union affiliated banks in the
 country.  Nearly 70 percent of the bank's employees are represented by United
 Steel Workers of America (USWA) Local 2635-06-07.
     Included in the unique union services available through the new office are
 the ERECT and BUILD Funds.  These Funds pool union retirement dollars,
 investing them into construction projects which create new jobs for the union
 trades. AmeriServ Financial's trust affiliate, AmeriServ Trust and Financial
 Services Company (formerly USBANCORP Trust and Financial Services Company),
 administers the ERECT and BUILD Funds. The office will also provide more
 traditional financial services customized for individual union members.
     The Harrisburg office will be the closest bank to the state capitol
 building, according to AmeriServ Chairman, President and CEO Orlando B.
 Hanselman.
     "We will be located immediately across from the capitol building in
 Harrisburg.  The location is convenient for everyone working in the capitol or
 the downtown Harrisburg area," he said.
     Harrisburg is currently the headquarters for several unions and the
 Pennsylvania AFL-CIO.  In addition to the Pennsylvania AFL-CIO, the largest
 unions with headquarters and members in Harrisburg include the PSEA, PSSU
 Local 668, AFSCME, SEIU, USWA, Plumbers and Pipefitters Local 520, CWA Local
 13000, Bakery and Confectioners Local 464, and the Greater Harrisburg Central
 Labor Council.  President William M. George of the Pennsylvania AFL-CIO is
 eager to see the opening of a financial services office that specializes in
 service to unions and their members.
     "This is a great opportunity for all working families in and around
 Harrisburg. The working family now has access to a financial services company
 with a reputation for convenience and meeting customer needs," said George
 from the Harrisburg offices of the Pennsylvania AFL-CIO.  "We are proud to
 have played a role in attracting AmeriServ Financial, and their experience
 with working families, to the state capitol."
     Plans call for an automated teller machine to be installed at the
 Harrisburg AmeriServ Financial office building.
     The Harrisburg office continues AmeriServ Financial's previously stated
 strategic plans for expansion with emphasis on marketing their unique union
 affiliation.
     "We have reached an important time for growth and expansion of our
 company," said Hanselman. "This announcement brings us closer to our goal of
 delivering market leading convenience to a broader audience in new service
 areas," said Hanselman.  "We will continue to seek out union business and
 expansion opportunities wherever they best match our customers' needs and our
 strategic goals as a company."
     Paul Bayush, USWA Local 2635-06 unit president and an AmeriServ Financial
 employee, has been working with his union and management to attract union
 business.  The Harrisburg office announcement is an important step toward
 further enhancing AmeriServ Financial's relationship with unions, according to
 Bayush.
     "Opening a union specialty office in Harrisburg brings AmeriServ Financial
 to an area with a high concentration of unions and members.  We are taking our
 union niche program to a new level with this announcement," said Bayush.
     The new Harrisburg office will employ five employees including a
 commercial lending/leasing officer, branch office leader and customer service
 representatives.
     The opening of the Harrisburg office will coincide with the launch of a
 fully transactional Internet site. The Internet site will support AmeriServ
 Financial's expansion into new geographic areas.  AmeriServ Financial's Call
 Center also expanded their person-to-person toll-free service hours last year,
 providing additional convenience to customers from any location.
     AmeriServ Financial, Inc., a financial holding company (pursuant to the
 Gramm-Leach-Bliley Act), is the parent of AmeriServ Financial and AmeriServ
 Trust & Financial Services in Johnstown, Standard Mortgage Corporation in
 Atlanta, Georgia, AmeriServ Associates of State College, and AmeriServ Life
 Insurance Company in Arizona.
     The Company's AmeriServ Mortgage subsidiary also has retail mortgage
 operations based in Greensburg, State College, and Altoona.  The AmeriServ
 Financial, Inc. customer reach is extensive beyond its primary dominant market
 of Cambria and Somerset Counties.  Standard Mortgage Corporation has mortgage
 servicing operations in Atlanta, Georgia.  AmeriServ Associates, the
 consulting subsidiary, has financial services industry clients which are
 located in Pennsylvania, Ohio, and Florida.  AmeriServ Trust and Financial
 Services Company, with $1.4 billion of client assets under management, has
 union investor clients in Pennsylvania, Ohio, Michigan, West Virginia, and
 Indiana. The new AmeriServ Financial, Inc. will trade on the Nasdaq Stock
 Exchange under the symbol ASRV beginning May 7, 2001.
 
 

SOURCE USBANCORP, Inc.
    JOHNSTOWN, Pa., April 24 /PRNewswire/ -- USBANCORP, Inc. (Nasdaq:   UBAN),
 which will be renamed AmeriServ Financial, Inc. on May 7, 2001, today
 announced plans to continue its geographic expansion eastward by opening a new
 office in the state capitol.  The full service office will primarily cater to
 the financial needs of union organizations and their members in Harrisburg and
 Dauphin county, and will be AmeriServ Financial's first specialty branch
 office primarily focused on services to unions.  The office opening, subject
 to regulatory approval, is scheduled for August.
     The branch will be located at the corner of Third and State streets. The
 bank separated from non-unionized affiliate Three Rivers Bank in April 2000,
 in part to promote their own union affiliation and to attract greater union
 business.  The specialty office will service any business, individual, or
 organization whether union or non-union.  The uniqueness of the specialty
 office is the chosen location within an area of concentrated union presence,
 the offering of tailored financial services to meet union needs as delivered
 by union bankers, and the dedicated outreach calling program to build union
 business.  AmeriServ Financial is one of only 13 union affiliated banks in the
 country.  Nearly 70 percent of the bank's employees are represented by United
 Steel Workers of America (USWA) Local 2635-06-07.
     Included in the unique union services available through the new office are
 the ERECT and BUILD Funds.  These Funds pool union retirement dollars,
 investing them into construction projects which create new jobs for the union
 trades. AmeriServ Financial's trust affiliate, AmeriServ Trust and Financial
 Services Company (formerly USBANCORP Trust and Financial Services Company),
 administers the ERECT and BUILD Funds. The office will also provide more
 traditional financial services customized for individual union members.
     The Harrisburg office will be the closest bank to the state capitol
 building, according to AmeriServ Chairman, President and CEO Orlando B.
 Hanselman.
     "We will be located immediately across from the capitol building in
 Harrisburg.  The location is convenient for everyone working in the capitol or
 the downtown Harrisburg area," he said.
     Harrisburg is currently the headquarters for several unions and the
 Pennsylvania AFL-CIO.  In addition to the Pennsylvania AFL-CIO, the largest
 unions with headquarters and members in Harrisburg include the PSEA, PSSU
 Local 668, AFSCME, SEIU, USWA, Plumbers and Pipefitters Local 520, CWA Local
 13000, Bakery and Confectioners Local 464, and the Greater Harrisburg Central
 Labor Council.  President William M. George of the Pennsylvania AFL-CIO is
 eager to see the opening of a financial services office that specializes in
 service to unions and their members.
     "This is a great opportunity for all working families in and around
 Harrisburg. The working family now has access to a financial services company
 with a reputation for convenience and meeting customer needs," said George
 from the Harrisburg offices of the Pennsylvania AFL-CIO.  "We are proud to
 have played a role in attracting AmeriServ Financial, and their experience
 with working families, to the state capitol."
     Plans call for an automated teller machine to be installed at the
 Harrisburg AmeriServ Financial office building.
     The Harrisburg office continues AmeriServ Financial's previously stated
 strategic plans for expansion with emphasis on marketing their unique union
 affiliation.
     "We have reached an important time for growth and expansion of our
 company," said Hanselman. "This announcement brings us closer to our goal of
 delivering market leading convenience to a broader audience in new service
 areas," said Hanselman.  "We will continue to seek out union business and
 expansion opportunities wherever they best match our customers' needs and our
 strategic goals as a company."
     Paul Bayush, USWA Local 2635-06 unit president and an AmeriServ Financial
 employee, has been working with his union and management to attract union
 business.  The Harrisburg office announcement is an important step toward
 further enhancing AmeriServ Financial's relationship with unions, according to
 Bayush.
     "Opening a union specialty office in Harrisburg brings AmeriServ Financial
 to an area with a high concentration of unions and members.  We are taking our
 union niche program to a new level with this announcement," said Bayush.
     The new Harrisburg office will employ five employees including a
 commercial lending/leasing officer, branch office leader and customer service
 representatives.
     The opening of the Harrisburg office will coincide with the launch of a
 fully transactional Internet site. The Internet site will support AmeriServ
 Financial's expansion into new geographic areas.  AmeriServ Financial's Call
 Center also expanded their person-to-person toll-free service hours last year,
 providing additional convenience to customers from any location.
     AmeriServ Financial, Inc., a financial holding company (pursuant to the
 Gramm-Leach-Bliley Act), is the parent of AmeriServ Financial and AmeriServ
 Trust & Financial Services in Johnstown, Standard Mortgage Corporation in
 Atlanta, Georgia, AmeriServ Associates of State College, and AmeriServ Life
 Insurance Company in Arizona.
     The Company's AmeriServ Mortgage subsidiary also has retail mortgage
 operations based in Greensburg, State College, and Altoona.  The AmeriServ
 Financial, Inc. customer reach is extensive beyond its primary dominant market
 of Cambria and Somerset Counties.  Standard Mortgage Corporation has mortgage
 servicing operations in Atlanta, Georgia.  AmeriServ Associates, the
 consulting subsidiary, has financial services industry clients which are
 located in Pennsylvania, Ohio, and Florida.  AmeriServ Trust and Financial
 Services Company, with $1.4 billion of client assets under management, has
 union investor clients in Pennsylvania, Ohio, Michigan, West Virginia, and
 Indiana. The new AmeriServ Financial, Inc. will trade on the Nasdaq Stock
 Exchange under the symbol ASRV beginning May 7, 2001.
 
 SOURCE  USBANCORP, Inc.