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.
Evans Bancorp, Inc. (EVBN) is a community financial services company and financial holding company for Evans Bank, N.A., a commercial bank serving Western New York since 1920. The company’s news flow, as reflected in its Business Wire releases, centers on quarterly and annual financial results, dividend declarations, strategic transactions, and updates on its planned merger with NBT Bancorp Inc.
Investors following EVBN news see regular earnings reports that detail net income, net interest income, net interest margin, loan and deposit growth, asset quality metrics, and non-interest income and expense trends. Management commentary often addresses balance sheet repositioning, liquidity, capital ratios, and the performance of key loan categories such as commercial real estate and commercial and industrial loans.
Evans Bancorp also issues dividend announcements describing semi-annual cash dividends on its common stock, including record dates, payment dates, and share counts. Other notable news items have included the completed sale of The Evans Agency to Arthur J. Gallagher & Co. and the resulting gain, as well as the decision to sell investment securities to reduce short-term borrowings.
More recently, a significant portion of EVBN news has focused on the definitive agreement for Evans to merge with NBT Bancorp Inc., shareholder approval of the transaction, regulatory approvals, and expectations for closing in conjunction with a system conversion. Readers of this page can review these updates in sequence to understand how Evans Bancorp’s financial performance, capital actions, and strategic direction are evolving over time.
Evans Bancorp (NYSE American: EVBN), a Western New York community financial services company founded in 1920, has announced a semi-annual cash dividend of $0.66 per share on its outstanding common stock. The dividend will be paid on April 10, 2025, to shareholders of record as of March 13, 2025. The company currently has approximately 5.6 million shares outstanding.
Evans Bancorp (NYSE American: EVBN) reported fourth quarter 2024 net income of $3.7 million, or $0.67 per diluted share, including $1.1 million in merger-related expenses. The company's net interest margin improved to 2.96%, up 16 basis points from the previous quarter.
Key highlights include total loan growth of $63 million (4%) year-over-year, with a strong loan pipeline of $76 million. Total deposits increased by $148 million (9%) from December 2023. Shareholders approved the merger with NBT Bancorp Inc., expected to close in Q2 2025, with an exchange ratio of 0.91 NBT shares for each Evans share.
For full-year 2024, Evans reported net income of $12.0 million ($2.16 per diluted share), compared to $24.5 million in 2023. The year-over-year decrease primarily reflects the impact of the 2023 insurance agency sale.
Evans Bancorp (EVBN) reported third quarter 2024 net income of $2.9 million, or $0.53 per diluted share. The company announced a definitive agreement to merge with NBT Bancorp during the quarter. Key highlights include: net interest margin of 2.80% (up 9 basis points), total loans growth of $67 million (4%) since year-end 2023, and total deposits increase of $182 million (11%). The quarter included $0.6 million in merger-related expenses offset by a gain from property sale. The NBT merger, valued at approximately $236 million, is expected to close in Q2 2025 with an exchange ratio of 0.91 NBT shares for each Evans share.
Evans Bancorp, Inc. (NYSE American: EVBN), a community financial services company serving Western New York since 1920, has announced a semi-annual cash dividend of $0.66 per share on its outstanding common stock. The dividend is set to be paid on October 10, 2024, to shareholders of record as of September 12, 2024. Evans Bancorp currently has approximately 5.5 million shares outstanding. This announcement demonstrates the company's commitment to providing returns to its shareholders and reflects its financial stability in the Western New York market.
Evans Bancorp (NYSE American: EVBN) reported net income of $2.9 million in Q2 2024, with earnings per share of $0.53, up 26% sequentially. The company's performance was marked by strong loan growth and improved net interest margin of 2.71%. Key highlights include:
- Total loans increased to $1.77 billion, up 5% annualized year-to-date
- Total deposits grew to $1.89 billion, a 10% increase year-to-date
- Net interest income rose to $14.3 million, up 3% from Q1 2024
- Non-interest expenses decreased by $0.4 million sequentially
The company maintains a strong capital position with a Tier 1 leverage ratio of 10.04%. Despite economic uncertainties, Evans Bancorp remains focused on strategic priorities, including enhancing digital capabilities and expanding its commercial loan portfolio in the Rochester market.
Evans Bancorp (NYSE American: EVBN) has announced its second quarter 2024 conference call and webcast schedule. The company, which has been serving Western New York since 1920, will release its Q2 2024 results after market close on Tuesday, July 30, 2024. A conference call and webcast will follow at 4:45 p.m. Eastern Time to discuss financial and operating results, corporate strategy, and outlook.
Investors can access the call via phone at (201) 689-8471 or through the company's website at www.evansbancorp.com. A replay will be available until August 13, 2024, by dialing (412) 317-6671 with conference ID 13746898. The webcast replay and transcript will also be posted on the company's website.
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.
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