AmeriServ Financial (ASRV) said Wednesday it has entered into a new advisory agreement with shareholder SB Value Partners regarding its trust and wealth management business with $2.4 billion in assets under management.

The two companies have also agreed to extend their cooperation agreement through 2029, AmeriServ said.

SB Value owns around 8.2% of AmeriServ's outstanding common stock, the company said.

Price: 2.24, Change: +0.15, Percent Change: +7.27