Item 8.01 Other Events
On January 14, 2021, Riverview Bank (the "Bank"), the wholly-owned subsidiary of
Riverview Financial Corporation, and AmeriServ Financial Bank, the wholly-owned
subsidiary of AmeriServ Financial, Inc., executed a Branch Purchase and
Assumption Agreement (the "Agreement"), whereby AmeriServ will acquire the
branch and deposit customers of Citizens Neighborhood Bank ("CNB"), an operating
division of the Bank, located in Meyersdale, Pennsylvania, as well as the
deposit customers of CNB's leased branch office in the Borough of Somerset,
Pennsylvania. As of the date of the Agreement, the related deposits totaled
approximately $48 million and will be acquired for a 3.71% deposit premium. The
transaction is expected to close in the second quarter of 2021, subject to
regulatory approval and other customary closing conditions.
On January 15, 2021, the parties issued a joint press release announcing the
execution of the Agreement, a copy of which is attached as Exhibit 99.1 to this
Current Report on Form 8-K and is incorporated herein by reference.
Item 9.01 Financial Statements and Exhibits.
(a) Financial Statements of Businesses Acquired.
None.
(b) Pro Forma Financial Information.
None.
(c) Shell Company Transactions.
None.
(d) Exhibits.
Exhibit Number Description
99.1 Joint Press Release dated January 15, 2021
104.1 Cover Page Interactive Data File (embedded within the Inline XBRL document)
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