AMERISERV FINANCIAL Inc. (the "Registrant") announced second quarter and first six month results through June 30, 2012. For a more detailed description of the announcement see the press release attached as Exhibit #99.1.

Exhibits

Exhibit 99.1

Press release dated July 17, 2012, announcing the second quarter and first six month results through June 30, 2012.

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

Executive Vice President

& CFO

Date: July 17, 2012

Exhibit 99.1

AMERISERV FINANCIAL REPORTS EARNINGS FOR THE SECOND QUARTER AND FIRST SIX MONTHS OF 2012

JOHNSTOWN, PA - AmeriServ Financial, Inc. (NASDAQ: ASRV) reported second quarter 2012 net income of $1,432,000 or $0.06 per diluted common share. This represents a decrease of $506,000, or $0.02 per diluted common share from the second quarter 2011. The improvements in asset quality continued to result in a negative provision for loan losses in the second quarter of 2012, but at a lesser level than in the second quarter of 2011. For the six month period ended June 30, 2012, the Company reported net income of $2,997,000 or $0.12 per diluted share. Net income for the six month period was down by $204,000 or 6.4% while diluted earnings per share did not change due to the success of the Company's common stock repurchase program. The following table highlights the Company's financial performance for both the three and six month periods ended June 30, 2012:

                        Second        Second        Six Months Ended Six Months Ended
                     Quarter 2012  Quarter 2011      June 30, 2012    June 30, 2011

Net income              $1,432,000    $1,938,000          $2,997,000       $3,201,000
Diluted earnings per        $ 0.06        $ 0.08              $ 0.12            $0.12
share

Glenn L. Wilson, President and Chief Executive Officer, commented on the second quarter 2012 financial results: "During the second quarter of 2012, we accomplished several important actions that have a positive impact on shareholder value. First, we repurchased 1,183,000 shares of our common stock below tangible book value at an average price per share of $2.52. This stock repurchase, combined with our earnings, contributed to a 6.4% increase in tangible book value per share during the first six months of 2012. Second, our total loan portfolio grew by $19.5 million or 2.9% during the second quarter of 2012 with this loan growth occurring in loan categories that qualify for the Small Business Lending Fund (SBLF). As a result of this loan growth, the dividend rate that AmeriServ Financial Inc. currently pays on the SBLF preferred stock will drop from 5% to 1% - the lowest rate available under the SBLF program. This lower preferred dividend will increase the quarterly net income available to common shareholders by $210,000 beginning in the fourth quarter of 2012."

The Company's net interest income in the second quarter of 2012 decreased by $165,000 or 2.0% from the prior year's second quarter and for the first six months of 2012 decreased by only $73,000 or 0.5% when compared to the first six months of 2011. The Company's 2012 net interest margin of 3.64% was 7 basis points lower than the net interest margin of 3.71% for the first half of 2011.
The decreased net interest income and net interest margin in 2012 reflects the challenges of a flatter yield curve which has caused interest revenue to decrease to greater extent than interest expense. Also, the second quarter 2012 net interest margin was negatively impacted by a build-up in short-term liquidity as the Company positioned its balance sheet for strong loan fundings that occurred late in the quarter. Specifically, total loans outstanding have increased for five consecutive quarters and now are $34.0 million or 5.2% higher than they were at June 30, 2011. This loan growth reflects the successful results of the Company's more intensive sales calling efforts with an emphasis on generating commercial loans and owner occupied commercial real estate loans which qualify as Small Business Lending Fund loans, particularly through its new loan production offices. Despite this growth in loans, total interest revenue dropped by $1.1 million between years and reflects the lower interest rate environment and flatter yield curve. Interest revenue has also been negatively impacted by increased premium amortization on mortgage backed securities due to faster mortgage prepayment speeds. However, careful management of funding costs has allowed the Company to mitigate a significant portion of this drop in interest revenue during the past year. Specifically, interest expense in the first six months of 2012 declined by $1.0 million from the same prior year period due to the Company's proactive efforts to reduce deposit and borrowing costs. Even with this reduction in deposit costs, the Company still experienced solid growth in deposits which increased by $44 million or 5.4% over the past 12 months.

Sustained improvements in asset quality evidenced by low levels of non-performing assets, net charge-offs, and classified loans allowed the Company to again reverse a portion of the allowance for loan losses into earnings in the second quarter of 2012 while still maintaining especially strong coverage ratios. At June 30, 2012, non-performing assets totaled $5.1 million or 0.74% of total loans. This represents the fourth consecutive quarter where non-performing assets have been near the $5 million level. Criticized and classified loans also dropped by $12 million or 21.3% during the past 12 months.
Actual credit losses realized through net charge-offs have also declined in 2012 with the Company even experiencing net loan recoveries of $39,000 in the second quarter of 2012. For the first six months of 2012, net charge-offs totaled only $181,000 or 0.05% of total loans which represents a decrease from the first six months of 2011 when net charge-offs totaled $1.0 million or 0.32% of total loans. As a result of this sustained asset quality improvement, the Company recorded a negative provision for loan losses of $500,000 in the second quarter of 2012 compared to a negative provision of $1,175,000 in the second quarter of 2011. For the six month period in 2012, the negative provision amounted to $1,125,000 compared to a $1,775,000 credit provision in the first six months of 2011. Overall, there has been $650,000 less earnings benefit from negative loan loss provisions in 2012. When determining the provision for loan losses, the Company considers a number of factors some of which include periodic credit reviews, non-performing asset, loan delinquency and charge-off trends, concentrations of credit, loan volume trends and broader local and national economic trends. In summary, the allowance for loan losses provided 315% coverage of non-performing loans, and was 1.94% of total loans, at June 30, 2012, compared to 288% of non-performing loans, and 2.18% of total loans, at December 31, 2011.

The Company's growth in non-interest revenue has also been a financial performance highlight in 2012. Total non-interest income in the second quarter of 2012 increased by $279,000 or 8.1% from the prior year's second quarter and for the first six months of 2012 increased by $848,000 or 12.9% when compared to the first six months of 2011. The second quarter 2012 non-interest income increase was driven by increased revenue from residential mortgage banking activities. Specifically, gains realized on residential mortgage loan sales into the secondary market increased by $96,000 due to increased mortgage loan production in the second quarter of 2012. Higher fees related to residential mortgage banking activities along with increased revenue from financial services (annuity and mutual funds sales) were the key factors responsible for the $219,000 increase in other income in the second quarter of 2012. For the six month period, trust fees increased by $152,000 or 4.8% as our wealth management businesses benefited from the implementation of new fee schedules and improved asset values in 2012. Also, the Company realized a modest $12,000 investment security gain in 2012 compared to a $358,000 investment security loss in the first quarter of 2011 that resulted from a portfolio repositioning strategy.

Total non-interest expense in the second quarter of 2012 increased by $190,000 from the prior year's second quarter and for the first six months of 2012 increased by $385,000 or 1.9% when compared to the first six months of 2011.
Salaries and employee benefits increased by $402,000 for the second quarter and $888,000 or 8.0% for the six month period due to higher salaries expense, incentive compensation, and pension expense. The 2012 personnel expenses also reflect the staffing costs associated with new loan production offices in Altoona, Harrisburg and Hagerstown, Maryland. Other expenses also increased by $86,000 for the second quarter of 2012 and $191,000 for the six month period due to an increase in the reserve for unfunded loan commitments as result of increased commercial loan origination activity in 2012. These negative items were partially offset by a $346,000 reduction in FDIC deposit insurance expense for the second quarter of 2012 and a $679,000 reduction for the six month period. This reduction resulted from a change in the calculation methodology which took effect in the second half of 2011 and the Company's improved risk profile which is evidenced by better asset quality and increased profitability.
Finally, the Company recorded an income tax expense of $1.3 million or an effective tax rate of 30.8% for the first half of 2012 which was comparable with the income tax expense of $1.4 million or an effective tax rate of 30.3% for the first half of 2011.

ASRV had total assets of $997 million and shareholders' equity of $111 million or a book value of $4.66 per common share at June 30, 2012. During the first half of 2012, the Company repurchased 1,638,000 shares of its common stock at an average price of $2.48 in conjunction with the terms of its previously announced stock buyback program. The Company continued to maintain strong capital ratios that considerably exceed the regulatory defined well capitalized status with a risk based capital ratio of 16.41%, an asset leverage ratio of 11.60% and a tangible common equity to tangible assets ratio of 7.84% at June 30, 2012.

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

                    SUPPLEMENTAL FINANCIAL PERFORMANCE DATA

                                 June 30, 2012

                (In thousands, except per share and ratio data)

                                  (Unaudited)


2012

                                              1QTR   2QTR   YEAR
                                                           TO DATE
PERFORMANCE DATA FOR THE PERIOD:
Net income                                   $1,565 $1,432  $2,997
Net income available to common                1,302  1,170   2,472
  shareholders

PERFORMANCE PERCENTAGES (annualized):
Return on average assets                      0.65%  0.59%   0.62%
Return on average equity                       5.60   5.19    5.40
Net interest margin                            3.70   3.59    3.64
Net charge-offs (recoveries) as a percentage   0.13 (0.02)    0.05
  of average loans
Loan loss provision as a percentage of       (0.38) (0.30)  (0.34)
  average loans
Efficiency ratio                              86.17  86.34   86.25

PER COMMON SHARE:
Net income:
Basic                                         $0.06  $0.06   $0.12
Average number of common shares              20,679 19,584  20,132
  outstanding
Diluted                                        0.06   0.06    0.12
Average number of common shares              20,722 19,652  20,186
  outstanding



2011

                                        1QTR   2QTR   YEAR
                                                     TO DATE
PERFORMANCE DATA FOR THE PERIOD:
Net income                             $1,263 $1,938  $3,201
Net income available to common            973  1,648   2,621
  shareholders

PERFORMANCE PERCENTAGES (annualized):
Return on average assets                0.54%  0.81%   0.67%
Return on average equity                 4.77   7.11    5.96
Net interest margin                      3.70   3.71    3.71
Net charge-offs as a percentage of       0.70 (0.07)    0.32
  average loans
Loan loss provision as a percentage of (0.37) (0.72)  (0.55)
  average loans
Efficiency ratio                        89.53  85.53   87.49

PER COMMON SHARE:
Net income:
Basic                                   $0.05  $0.08   $0.12
Average number of common shares        21,208 21,208  21,208
  outstanding
Diluted                                  0.05   0.08    0.12
Average number of common shares        21,230 21,236  21,233
  outstanding

2012

                                          1QTR       2QTR
PERFORMANCE DATA AT PERIOD END
Assets                                   $967,401   $997,102
Short-term investments/overnight funds      7,398     14,158
Investment securities                     190,089    191,791
Loans                                     671,328    690,815
Allowance for loan losses                  13,778     13,317
Goodwill                                   12,613     12,613
Deposits                                  820,105    854,017
FHLB borrowings                             6,390      3,000
Shareholders' equity                      112,270    110,810
Non-performing assets                       4,801      5,077
Asset leverage ratio                       11.83%     11.60%
Tangible common equity ratio                 8.24       7.84
PER COMMON SHARE:
Book value (A)                              $4.46      $4.66
Tangible book value                          3.84       4.00
Market value                                 2.74       2.82
Trust assets - fair market value (B)   $1,469,789 $1,447,877

STATISTICAL DATA AT PERIOD END:
Full-time equivalent employees                353        353
Branch locations                               18         18
Common shares outstanding              20,465,521 19,284,521



2011

                                          1QTR       2QTR       3QTR       4QTR
PERFORMANCE DATA AT PERIOD END
Assets                                   $961,067   $954,893   $973,439   $979,076
Short-term investments/overnight funds     26,769      4,338     17,941      7,845
Investment securities                     195,272    198,770    195,784    195,203
Loans                                     644,836    656,838    667,409    670,847
Allowance for loan losses                  18,025     16,958     16,069     14,623
Goodwill and core deposit intangibles      12,613     12,613     12,613     12,613
Deposits                                  816,528    810,082    827,358    816,420
FHLB borrowings                             9,736      9,722      9,707     21,765
Shareholders' equity                      108,170    111,410    114,164    112,352
Non-performing assets                       9,328      7,433      5,344      5,199
Asset leverage ratio                       11.40%     11.60%     11.70%     11.66%
Tangible common equity ratio                 7.89       8.29       8.38       8.15
PER COMMON SHARE:
Book value (A)                              $4.12      $4.28      $4.39      $4.37
Tangible book value                          3.53       3.68       3.80       3.76
Market value                                 2.37       1.95       1.90       1.95
Trust assets - fair market value (B)   $1,410,755 $1,390,534 $1,313,440 $1,382,745

STATISTICAL DATA AT PERIOD END:
Full-time equivalent employees                351        352        342        347
Branch locations                               18         18         18         18
Common shares outstanding              21,207,670 21,208,421 21,208,421 20,921,021

NOTES:

(A)

Preferred stockof $21 million received through the Small Business Lending Fund is excluded from the book value per

common share and tangible book value per common share calculations.

(B) Not recognized on the balance sheet.