Evans Bancorp, Inc. primarily operates as the financial holding company for Evans Bank, N.A. that provides a range of banking products and services to consumer and commercial customers in Western New York and the Finger Lakes Region of New York State. It operates in two segments, Banking Activities and Insurance Agency Activities. The company offers deposit products, which include checking and negotiable order of withdrawal accounts, savings accounts, and certificates of deposit. It also provides residential mortgages; commercial and multi-family mortgages; commercial construction loans; home equities, such as home equity lines of credit and second mortgage loans; commercial and industrial loans comprising term loans and lines of credit; consumer loans, including direct automobile, recreational vehicle, boat, home improvement, and personal loans; other loans consisting of cash reserves, overdrafts, and loan clearing accounts; and installment loans. In addition, the company sells various premium-based insurance policies consisting of business and personal insurance, employee benefits, surety bonds, risk management, life, disability, and long-term care coverage, as well as provides claims adjusting services to various insurance companies; and non-deposit investment products, such as annuities and mutual funds. It operates through a total of 20 full-service banking offices in Erie County, Niagara County, Monroe County, and Chautauqua County, New York. Evans Bancorp, Inc. was founded in 1920 and is headquartered in Williamsville, New York.
IPO Year:
Exchange: AMEX
Website: evansbank.com
| Date | Price Target | Rating | Analyst |
|---|---|---|---|
| 2/2/2024 | $32.00 | Overweight → Neutral | Piper Sandler |
| 1/10/2022 | $39.00 | Mkt Perform | Keefe Bruyette |
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Evans Bancorp, Inc. (the "Company" or "Evans") (NYSE:EVBN), a community financial services company serving Western New York since 1920, today reported results of operations for the third quarter ended September 30, 2024. The prior-year period includes business activity relating to The Evans Agency ("TEA") prior to the sale to Arthur J. Gallagher & Co. on November 30, 2023. HIGHLIGHTS Evans announced Definitive Agreement to merge with NBT Bancorp Inc. during the third quarter Net income per share was $0.53 in the third quarter, which included $0.6 million in merger-related expenses and an offsetting gain from the sale of other real estate owned (OREO) property Third quarter net intere
NORWICH, N.Y. and WILLIAMSVILLE, N.Y., Sept. 09, 2024 (GLOBE NEWSWIRE) -- NBT Bancorp Inc. ("NBT") (NASDAQ:NBTB) and Evans Bancorp, Inc. ("Evans") (NYSE:EVBN) today announced they have entered into a definitive agreement pursuant to which Evans will merge with and into NBT. This merger will bring together two highly respected banking companies and extend NBT's growing footprint into Western New York. "We are enthusiastic about this opportunity to partner with Evans and are confident it is a high quality and incredibly impactful way to expand NBT's presence into Western New York," said NBT President and Chief Executive Officer Scott A. Kingsley. "Adding the greater Buffalo and Rochester co
Evans Bancorp, Inc. (the "Company" or "Evans") (NYSE:EVBN), a community financial services company serving Western New York since 1920, announced today that its Board of Directors declared a cash dividend of $0.66 per share on its outstanding common stock. The dividend is payable on October 10, 2024, to shareholders of record as of September 12, 2024. The Company has approximately 5.5 million shares outstanding. About Evans Bancorp, Inc. Evans Bancorp, Inc. is a financial holding company and the parent company of Evans Bank, N.A., a commercial bank with $2.3 billion in assets and $1.9 billion in deposits at June 30, 2024. Evans Bank is a full-service community bank with 18 branches pr
Evans Bancorp, Inc. (the "Company" or "Evans") (NYSE:EVBN), a community financial services company serving Western New York since 1920, today reported results of operations for the second quarter ended June 30, 2024. The prior-year period includes business activity relating to The Evans Agency (TEA) prior to the sale to Arthur J. Gallagher & Co. on November 30, 2023. HIGHLIGHTS Net income per share was $0.53 in the second quarter, which was up 26% sequentially on higher revenue and lower expenses Second quarter net interest margin of 2.71% was above expectations due to balance sheet adjustments in the first quarter and ongoing deposit pricing strategy Total loan balances of $1.77
Evans Bancorp, Inc. (the "Company") (NYSE:EVBN), a community financial services company serving Western New York since 1920, announced that it will release its second quarter 2024 results after the close of financial markets on Tuesday, July 30, 2024. The Company will host a conference call and webcast to review the financial and operating results for the period and discuss its corporate strategy and outlook. A question-and-answer session will follow. Second Quarter 2024 Conference Call Tuesday, July 30, 2024 4:45 p.m. Eastern Time Phone: (201) 689-8471 Internet Webcast: www.evansbancorp.com A telephonic replay will be available from 8:00 p.m. ET on the day of the teleconference unt
Evans Bancorp, Inc. (the "Company") (NYSE:EVBN), a community financial services company serving Western New York since 1920, announced that it will release its first quarter 2024 results after the close of financial markets on Tuesday, April 30, 2024. The Company will host a conference call and webcast to review the financial and operating results for the period and discuss its corporate strategy and outlook. A question-and-answer session will follow. First Quarter 2024 Conference Call Tuesday, April 30, 2024 4:45 p.m. Eastern Time Phone: (201) 689-8471 Internet Webcast: www.evansbancorp.com A telephonic replay will be available from 8:00 p.m. ET on the day of the teleconference unt
Evans Bancorp, Inc. (the "Company" or "Evans") (NYSE:EVBN), a community financial services company serving Western New York since 1920, announced today that its Board of Directors declared a cash dividend of $0.66 per share on its outstanding common stock. The dividend is payable on April 9, 2024, to shareholders of record as of March 12, 2024. The Company has approximately 5.5 million shares outstanding. About Evans Bancorp, Inc. Evans Bancorp, Inc. is a financial holding company and the parent company of Evans Bank, N.A., a commercial bank with $2.1 billion in assets and $1.7 billion in deposits at December 31, 2023. Evans Bank is a full-service community bank with 18 branches provi
Evans Bancorp, Inc. (the "Company" or "Evans") (NYSE:EVBN), a community financial services company serving Western New York since 1920, today reported results of operations for the fourth quarter and full year ended December 31, 2023. HIGHLIGHTS Completed the sale of The Evans Agency ("TEA") to Arthur J. Gallagher & Co, netting a pretax gain of $20.2 million in the fourth quarter Repositioned balance sheet with sale of $78 million of investment securities – proceeds used to reduce short-term borrowings; resulted in recognized pretax loss of $5.0 million in the quarter but improves forward net interest income Total loan balances of $1.7 billion up 1% in the quarter and 3% year-ove
Evans Bancorp, Inc. (the "Company") (NYSE:EVBN), a community financial services company serving Western New York since 1920, announced that it will release its fourth quarter and full year 2023 results after the close of financial markets on Thursday, February 1, 2024. The Company will host a conference call and webcast to review the financial and operating results for the period and discuss its corporate strategy and outlook. A question-and-answer session will follow. Fourth Quarter and Full Year 2023 Conference Call Thursday, February 1, 2024 4:45 p.m. Eastern Time Phone: (201) 689-8471 Internet Webcast: www.evansbancorp.com A telephonic replay will be available from 8:00 p.m. ET
Evans Bancorp, Inc. (the "Company" or "Evans") (NYSE:EVBN), a community financial services company serving Western New York since 1920, today reported results of operations for the third quarter ended September 30, 2023. HIGHLIGHTS Total loan balances of $1.7 billion up 2% in the quarter and 5% year-over-year Net income of $3.6 million reflected continued net interest margin pressure, partially offset by prudent expense management Total non-interest expense declined 9% to $14.4 million over last year's third quarter Net interest margin of 2.79% declined 31 basis points sequentially, of which 8 basis points was attributable to the reversal of interest income from one non-accrua
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Piper Sandler downgraded Evans Bancorp from Overweight to Neutral and set a new price target of $32.00
Keefe Bruyette initiated coverage of Evans Bancorp with a rating of Mkt Perform and set a new price target of $39.00
Hovde Group downgraded Evans Bancorp from Outperform to Market Perform and set a new price target of $38.00 from $37.00 previously
NORWICH, N.Y. and WILLIAMSVILLE, N.Y., Dec. 20, 2024 (GLOBE NEWSWIRE) -- NBT Bancorp Inc. ("NBT") (NASDAQ:NBTB) announced that it has received regulatory approval to complete the proposed merger (the "Merger") of Evans Bancorp, Inc. ("Evans") (NYSE:EVBN) with and into NBT and Evans Bank, N.A. ("Evans Bank") with and into NBT Bank, N.A. ("NBT Bank"). The Office of the Comptroller of the Currency approved the merger of Evans Bank with and into NBT Bank, and NBT received a waiver from the Federal Reserve Bank of New York for any application with respect to the merger of Evans with and into NBT. On December 20, 2024, the shareholders of Evans voted to approve the Merger. Evans reported over 7
Evans Bancorp, Inc. (the "Company" or "Evans") (NYSE:EVBN), a community financial services company serving Western New York since 1920, today reported results of operations for the third quarter ended September 30, 2024. The prior-year period includes business activity relating to The Evans Agency ("TEA") prior to the sale to Arthur J. Gallagher & Co. on November 30, 2023. HIGHLIGHTS Evans announced Definitive Agreement to merge with NBT Bancorp Inc. during the third quarter Net income per share was $0.53 in the third quarter, which included $0.6 million in merger-related expenses and an offsetting gain from the sale of other real estate owned (OREO) property Third quarter net intere
NORWICH, N.Y. and WILLIAMSVILLE, N.Y., Sept. 09, 2024 (GLOBE NEWSWIRE) -- NBT Bancorp Inc. ("NBT") (NASDAQ:NBTB) and Evans Bancorp, Inc. ("Evans") (NYSE:EVBN) today announced they have entered into a definitive agreement pursuant to which Evans will merge with and into NBT. This merger will bring together two highly respected banking companies and extend NBT's growing footprint into Western New York. "We are enthusiastic about this opportunity to partner with Evans and are confident it is a high quality and incredibly impactful way to expand NBT's presence into Western New York," said NBT President and Chief Executive Officer Scott A. Kingsley. "Adding the greater Buffalo and Rochester co
Evans Bancorp, Inc. (the "Company" or "Evans") (NYSE:EVBN), a community financial services company serving Western New York since 1920, announced today that its Board of Directors declared a cash dividend of $0.66 per share on its outstanding common stock. The dividend is payable on October 10, 2024, to shareholders of record as of September 12, 2024. The Company has approximately 5.5 million shares outstanding. About Evans Bancorp, Inc. Evans Bancorp, Inc. is a financial holding company and the parent company of Evans Bank, N.A., a commercial bank with $2.3 billion in assets and $1.9 billion in deposits at June 30, 2024. Evans Bank is a full-service community bank with 18 branches pr
Evans Bancorp, Inc. (the "Company" or "Evans") (NYSE:EVBN), a community financial services company serving Western New York since 1920, today reported results of operations for the second quarter ended June 30, 2024. The prior-year period includes business activity relating to The Evans Agency (TEA) prior to the sale to Arthur J. Gallagher & Co. on November 30, 2023. HIGHLIGHTS Net income per share was $0.53 in the second quarter, which was up 26% sequentially on higher revenue and lower expenses Second quarter net interest margin of 2.71% was above expectations due to balance sheet adjustments in the first quarter and ongoing deposit pricing strategy Total loan balances of $1.77
Evans Bancorp, Inc. (the "Company") (NYSE:EVBN), a community financial services company serving Western New York since 1920, announced that it will release its second quarter 2024 results after the close of financial markets on Tuesday, July 30, 2024. The Company will host a conference call and webcast to review the financial and operating results for the period and discuss its corporate strategy and outlook. A question-and-answer session will follow. Second Quarter 2024 Conference Call Tuesday, July 30, 2024 4:45 p.m. Eastern Time Phone: (201) 689-8471 Internet Webcast: www.evansbancorp.com A telephonic replay will be available from 8:00 p.m. ET on the day of the teleconference unt
Evans Bancorp, Inc. (the "Company" or "Evans") (NYSE:EVBN), a community financial services company serving Western New York since 1920, today reported results of operations for the first quarter ended March 31, 2024. HIGHLIGHTS First quarter net interest margin of 2.79% expanded 4 basis points sequentially Total loan balances of $1.7 billion up $63 million, or 4%, year-over-year Robust loan pipeline of $95 million Total deposits of $1.9 billion increased $173 million, or 10%, in the quarter, and were up $41 million, or 2%, from the end of last year's first quarter Comparative periods include business activity relating to The Evans Agency (TEA) prior to the sale to Arthur J.
Evans Bancorp, Inc. (the "Company") (NYSE:EVBN), a community financial services company serving Western New York since 1920, announced that it will release its first quarter 2024 results after the close of financial markets on Tuesday, April 30, 2024. The Company will host a conference call and webcast to review the financial and operating results for the period and discuss its corporate strategy and outlook. A question-and-answer session will follow. First Quarter 2024 Conference Call Tuesday, April 30, 2024 4:45 p.m. Eastern Time Phone: (201) 689-8471 Internet Webcast: www.evansbancorp.com A telephonic replay will be available from 8:00 p.m. ET on the day of the teleconference unt
Evans Bancorp, Inc. (the "Company" or "Evans") (NYSE:EVBN), a community financial services company serving Western New York since 1920, announced today that its Board of Directors declared a cash dividend of $0.66 per share on its outstanding common stock. The dividend is payable on April 9, 2024, to shareholders of record as of March 12, 2024. The Company has approximately 5.5 million shares outstanding. About Evans Bancorp, Inc. Evans Bancorp, Inc. is a financial holding company and the parent company of Evans Bank, N.A., a commercial bank with $2.1 billion in assets and $1.7 billion in deposits at December 31, 2023. Evans Bank is a full-service community bank with 18 branches provi
Evans Bancorp, Inc. (the "Company" or "Evans") (NYSE:EVBN), a community financial services company serving Western New York since 1920, today reported results of operations for the fourth quarter and full year ended December 31, 2023. HIGHLIGHTS Completed the sale of The Evans Agency ("TEA") to Arthur J. Gallagher & Co, netting a pretax gain of $20.2 million in the fourth quarter Repositioned balance sheet with sale of $78 million of investment securities – proceeds used to reduce short-term borrowings; resulted in recognized pretax loss of $5.0 million in the quarter but improves forward net interest income Total loan balances of $1.7 billion up 1% in the quarter and 3% year-ove
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Evans Bancorp, Inc. (the "Company" or "Evans") (NYSE:EVBN), a community financial services company serving Western New York since 1920, announced today that it has entered into a definitive agreement to sell The Evans Agency, LLC ("TEA") to Arthur J. Gallagher & Co. (NYSE:AJG) ("Gallagher") for $40 million. The transaction is subject to customary closing conditions and is anticipated to be completed in the fourth quarter of 2023. Key Highlights: Evans' growth of TEA over the years culminates with the capture of a valuation premium, providing capital to strategically redeploy across the core banking franchise. Demonstrates significant value creation and delivers measurable shareholde
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