Evans Bancorp, Inc. Increases Semi-Annual Cash Dividend to $0.64 per Share

Marks thirteenth dividend increase over last ten years

WILLIAMSVILLE, N.Y.--(BUSINESS WIRE)-- Evans Bancorp, Inc. (the “Company” or “Evans”) (NYSE American: EVBN), a community financial services company serving Western New York since 1920, announced today that its Board of Directors declared a cash dividend of $0.64 per share on its outstanding common stock. This semi-annual dividend represents a $0.02 increase from the previous semi-annual dividend paid in April 2022.

The dividend is payable on October 4, 2022 to shareholders of record as of September 13, 2022. 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 $2.2 billion in assets and $2.0 billion in deposits at June 30, 2022. Evans is a full-service community bank with 18 branches providing comprehensive financial services to consumer, business and municipal customers throughout Western New York. Evans Insurance Agency, a wholly owned subsidiary, provides life insurance, employee benefits, and property and casualty insurance through ten offices in the Western New York region. Evans Investment Services provides non-deposit investment products, such as annuities and mutual funds.

Evans Bancorp, Inc. and Evans Bank routinely post news and other important information on their websites, at www.evansbancorp.com and www.evansbank.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220816005770/en/

For more information:

John B. Connerton

Executive Vice President and Chief Financial Officer

(716) 926-2000

jconnerton@evansbank.com

-OR-

Deborah K. Pawlowski

Kei Advisors LLC

(716) 843-3908

dpawlowski@keiadvisors.com

Media:

Kathleen Rizzo Young

Public & Community Relations Manager

716-343-5562

krizzoyoung@evansbank.com

Source: Evans Bancorp, Inc.