Welcome to our dedicated page for Evans Bancorp news (Ticker: $EVBN), a resource for investors and traders seeking the latest updates and insights on Evans Bancorp stock.
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Evans Bancorp, Inc. reported a net income of $2.3 million in the first quarter of 2024, showcasing a 4% increase in total loan balances, a 10% rise in total deposits, and a $95 million robust loan pipeline. The net interest margin expanded slightly to 2.79% sequentially. Despite a decrease in net income compared to previous quarters, the company remains optimistic about future asset growth, supported by expense management and strengthened capital. There was a decrease in non-interest income, a slight increase in non-interest expenses, and a change in asset quality. Overall, Evans Bancorp emphasizes a focus on balance sheet strength, liquidity, and maintaining regulatory capital ratios.