AmeriServ Financial Inc., a Johnstown, Pa., community bank, announced Friday that it would close its investment advisory subsidiary, AmeriServ Associates Inc., in order to focus on traditional banking services.
The unit is to cease operations March 31 but will continue in business as a new private company unaffiliated with the bank, Ameri- Serv said. Ray M. Fisher, the president of AmeriServ Associates, is to leave the bank and run the new company. The unit was opened as a registered investment advisory firm in 1997.
