AMERISERV FINANCIAL Inc. (the "Registrant") announced first quarter results through March 31, 2009. For a more detailed description of the announcement see the press release attached as Exhibit #99.1.

Exhibits

Exhibit 99.1

Press release dated April 14, 2009, announcing the first quarter results through March 31, 2009.

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

AMERISERV FINANCIAL, Inc.

By /s/Jeffrey A. Stopko

Jeffrey A. Stopko

Senior Vice President

& CFO

Date: April 14, 2009

Exhibit 99.1

AMERISERV FINANCIAL REPORTS EARNINGS FOR THE FIRST QUARTER OF 2009

JOHNSTOWN, PA - AmeriServ Financial, Inc. (NASDAQ: ASRV) reported first quarter 2009 net income of $533,000 or $0.01 per diluted common share. This represents a decrease of $696,000 from the first quarter 2008 net income of $1,229,000 or $0.06 per diluted common share. The following table highlights the Company's financial performance for the quarters ended March 31, 2009 and 2008:

                       First     First Quarter        $ Change          % Change
                    Quarter 2009     2008

Net income              $533,000    $1,229,000            ($696,000)        (56.6 %)
Diluted earnings          $ 0.01       $ 0.06               ($ 0.05)         (83.3%)
per share

Allan R. Dennison, President and Chief Executive Officer, commented on the first quarter 2009 financial results, "AmeriServ Financial generated strong loan and deposit growth during the first quarter of 2009 which led to increased net interest income and margin performance. However, this difficult economic environment has led us to further strengthen our allowance for loan losses which was the primary factor causing the decline in earnings between periods. Overall our asset quality continues to be good by industry standards with non-performing assets amounting to $5.1 million or 0.70% of total loans and net charge-offs for the first quarter of 2009 totaling $49,000 or 0.03% of total loans."

The Company's net interest income in the first quarter of 2009 increased by $1.4 million or 20.9% from the prior year's first quarter and the net interest margin was up by 40 basis points to 3.72% over the same comparative period. The increased net interest income and margin resulted from a combination of good balance sheet growth and the pricing benefits achieved from a steeper positively sloped yield curve. Specifically, total loans averaged $714 million in the first quarter of 2009, an increase of $80 million or 12.7% over the first quarter of 2008. The loan growth was driven by increased commercial and commercial real-estate loan production. Total deposits averaged $715 million in the first quarter of 2009, an increase of $20 million or 2.9% over the same 2008 quarter. The Company believes that uncertainties in the financial markets and the economy have contributed to growth in both money market and demand deposits as consumers have looked for safety in well capitalized community banks like AmeriServ Financial. Additionally, the Company also benefited from a favorable decline in interest expense caused by the more rapid downward repricing of both deposits and Federal Home Loan Bank borrowings due to the market decline in short-term interest rates.

The Company recorded a $1.8 million provision for loan losses in the first quarter of 2009 compared to a $150,000 provision in the first quarter of 2008, or an increase of $1.65 million. When determining the provision for loan losses, the Company considers a number of factors some of which include periodic credit reviews, delinquency and charge-off trends, concentrations of credit, loan volume trends and broader local and national economic trends. The higher loan provision in the first quarter of 2009 was caused by the Company's decision to strengthen its allowance for loan losses due to the downgrade of the rating classification of one large performing commercial loan and uncertainties in the local and national economies. The Company's net charge-offs in the first quarter of 2009 amounted to only $49,000 or 0.03% of total loans. This amount was comparable with the net charge-offs of $93,000 or 0.06% of total loans experienced in the first quarter of 2008. Non-performing assets increased moderately to $5.1 million or 0.70% of total loans at March 31, 2009 compared to $4.6 million or 0.65% of total loans at December 31, 2008. Overall, the allowance for loan losses provided 209% coverage of non-performing assets and was 1.47% of total loans at March 31, 2009 compared to 195% of non-performing assets and 1.26% of total loans at December 31, 2008. Note also that the Company has no direct exposure to sub-prime mortgage loans in either the loan or investment portfolios.

The Company's non-interest income in the first quarter of 2009 decreased by $277,000 or 7.2% from the first quarter of 2008. The quarterly decrease was primarily due to a $320,000 decline in trust and investment advisory fees due to reductions in the market value of assets managed due to lower equity and real estate values in the first quarter of 2009. These negative items were partially offset by increased gains on asset sales. Specifically, gains realized on residential mortgage sales into the secondary market increased by $29,000 or 32.6% due to increased mortgage purchase and refinance activity in the Company's primary market. The Company also took advantage of market opportunities and generated $101,000 of gains on the sale of investment securities in order to provide additional liquidity to fund the strong loan growth.

Total non-interest expense in the first quarter of 2009 increased by $383,000 or 4.4% from the prior year's first quarter. Total salaries and benefits expense increased by $262,000 or 5.4% due greater incentive compensation and health care costs. The other main factor causing the increase in non-interest expense was a $151,000 increase in professional fees. The increased professional fees resulted primarily from higher legal, consulting and other professional fees in the first quarter of 2009.

ASRV had total assets of $975 million and shareholders' equity of $114 million or a book value of $4.44 per common share at March 31, 2009. The Company's asset leverage ratio remained strong at 11.82% and the Company had a tangible common equity to tangible assets ratio of 8.35% at March 31, 2009.

This news release may contain forward-looking statements that involve risks and uncertainties, as defined in the Private Securities Litigation Reform Act of 1995, including the risks detailed in the Company's Annual Report and Form 10-K to the Securities and Exchange Commission. Actual results may differ materially.

Nasdaq: ASRV

2009

                                                      1QTR

PERFORMANCE DATA FOR THE PERIOD:
Net income                                             $533
Net income available to common shareholders             274

PERFORMANCE PERCENTAGES (annualized):
Return on average assets                              0.22%
Return on average equity                               1.90
Net interest margin                                    3.72
Net charge-offs as a percentage of average loans       0.03
Loan loss provision as a percentage of average loans   1.02
Efficiency ratio                                      78.22

PER COMMON SHARE:
Net income:
Basic                                                 $0.01
Average number of common shares outstanding          21,137
Diluted                                                0.01
Average number of common shares outstanding          21,137

2008

                                      1QTR     2QTR      3QTR      4QTR      YEAR
                                                                            TO DATE
PERFORMANCE DATA FOR THE PERIOD:
Net income                            $1,229    $1,516    $1,149    $1,615    $5,509
Net income available to common         1,229     1,516     1,149     1,580     5,474
shareholders

PERFORMANCE PERCENTAGES
(annualized):
Return on average assets               0.55%     0.71%     0.52%     0.69%     0.62%
Return on average equity                5.43      6.64      4.93      6.68      5.93
Net interest margin                     3.32      3.58      3.59      3.84      3.64
Net charge-offs as a percentage of      0.06      0.46      0.04      0.23      0.20
average loans
Loan loss provision as a percentage     0.10      0.89      0.48      0.36      0.45
of average loans
Efficiency ratio                       82.87     73.20     79.72     77.46     78.11

PER COMMON SHARE:
Net income:
Basic                                  $0.06     $0.07     $0.05     $0.07     $0.25
Average number of common shares       22,060    21,847    21,855    21,571    21,833
outstanding
Diluted                                 0.06      0.07      0.05      0.07      0.25
Average number of common shares       22,062    21,848    21,856    21,571    21,975
outstanding

2009

                                               1QTR
PERFORMANCE DATA AT PERIOD END
Assets                                        $975,062
Short-term investment in money market funds     10,817
Investment securities                          138,853
Loans                                          726,961
Allowance for loan losses                       10,661
Goodwill and core deposit intangibles           13,498
Deposits                                       746,813
FHLB borrowings                                 90,346
Shareholders' equity                           114,254
Non-performing assets                            5,099
Asset leverage ratio                            11.91%
PER COMMON SHARE:
Book value (A)                                   $4.44
Market value                                      1.67
Trust assets - fair market value (B)        $1,432,375

STATISTICAL DATA AT PERIOD END:
Full-time equivalent employees                     355
Branch locations                                    18
Common shares outstanding                   21,144,700

2008

                                    1QTR       2QTR       3QTR       4QTR
PERFORMANCE DATA AT PERIOD END
Assets                             $902,349   $877,230   $911,306   $966,929
Short-term investment in money        5,682      6,952      7,147     15,578
market funds
Investment securities               146,285    141,867    141,630    142,675
Loans                               632,934    623,798    663,996    707,108
Allowance for loan losses             7,309      7,963      8,677      8,910
Goodwill and core deposit            14,254     14,038     13,821     13,605
intangibles
Deposits                            682,459    722,913    688,998    694,956
FHLB borrowings                     106,579     40,214    106,897    133,778
Shareholders' equity                 91,558     92,248     93,671    113,252
Non-performing assets                 3,050      3,717      4,390      4,572
Asset leverage ratio                  9.78%     10.47%     10.37%     12.15%
PER COMMON SHARE:
Book value                            $4.19      $4.22      $4.29      $4.39
Market value                           2.79       2.98       2.51       1.99

STATISTICAL DATA AT PERIOD END:
Full-time equivalent employees          350        353        352        353
Branch locations                         19         18         18         18
Common shares outstanding        21,842,691 21,850,773 21,859,409 21,128,831

NOTES:

(A) Preferred stock received through the Capital Purchase Program is excluded from the book value per common share calculation.

(B) Not recognized on the balance sheet.