JOHNSTOWN, Pa., Oct. 23, 2023 /PRNewswire/ -- West Chester Capital Advisors, Inc. (WCCA), a wholly owned subsidiary of AmeriServ Financial Bank and an SEC registered investment advisory firm, today announced several staff promotions.

Frank J. Lapinsky, AIF, has been appointed President and Chief Executive Officer. Mr. Lapinsky brings more than 35 years of investment experience to his new role at WCCA and oversees daily operations while continuing his duties as a portfolio manager. Previously, he served as Senior Vice President, Chief Administrative Officer, and Portfolio Manager for 15 years. In that role, Mr. Lapinsky spearheaded the analysis and selection of equity, fixed-income, and mutual fund investments and managed fixed-income, equity, and balanced portfolios. He also developed and implemented state-of-the-art technology and solutions for day-to-day portfolio management, investment trading activities, and client performance reporting.

Ronald M. Shostek, CFA, has been promoted to Vice President and Chief Investment Officer. He joined the company in November 2022. He is the former owner of Loyalhanna Capital Management located in Johnstown where he managed separate accounts and developed machine learning models. He has more than 30 years of experience in the investment industry.

Eric S. Ludy, IACCP, has been promoted to Vice President and Portfolio Manager. He brings more than 15 years of trust investment experience to the role. Previously, Mr. Ludy served as the Chief Compliance Officer for West Chester Capital Advisors where he was responsible for overseeing all compliance functions. Prior to that, he was the securities trader and research analyst for the investment team.

Jeff Stopko, President and Chief Executive Officer of AmeriServ Financial, Inc., described the team's performance as "our team of investment and wealth professionals brings over 100 years of assisting customers plan for their present and future financial needs. They have a deep understanding of customers' needs, a track record enabling them to identify and chart their investments goals and a strong commitment to providing an exceptional level of personal and professional service."

West Chester Capital Advisors' investment management and advisory services range from individual portfolio management to pension and profit-sharing plans for individuals and institutions, including bank and trust companies, charitable organizations, and government entities. The firm's proactive, disciplined approach includes the signature Pathroad Account® portfolios which are designed to produce long-term investment results for both equity and fixed income clients. The combined years of experience of the advisors allows for delivery of personalized services through one-on-one consultations with a local investment firm.

About West Chester Capital Advisors, Inc.

West Chester Capital Advisors, Inc. is an SEC-registered investment advisor with its principal place of business located in Johnstown, PA. West Chester Capital Advisors, Inc. is a wholly owned subsidiary of AmeriServ Financial Bank®. AmeriServ Financial Bank is a wholly owned subsidiary of AmeriServ Financial, Inc., a publicly held bank holding company trading on the Nasdaq stock exchange under the symbol ASRV.

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SOURCE AmeriServ Financial, Inc.

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