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, Inc. (NYSE American: EVBN) will announce its second quarter 2021 results on July 29, 2021, after market close. A conference call will be held at 4:45 p.m. ET to discuss financial results, corporate strategy, and outlook, followed by a Q&A session. As of March 31, 2021, Evans Bancorp reported $2.1 billion in assets and $1.9 billion in deposits. The company offers a range of financial services through its 20 centers across Western New York, and its subsidiaries provide insurance and investment services.
Evans Bancorp reported a solid performance for Q1 2021, with net income of $4.9 million ($0.89 per diluted share), reflecting a significant growth compared to the prior year. The company originated $89 million in PPP loans and $90 million in other commercial loans. Net interest income surged 30% to $16.6 million due to the acquisition of Fairport Savings Bank and PPP fees. Total deposits climbed 41% to $1.87 billion. However, there was a provision for loan loss of $0.3 million related to a single commercial loan. The company’s return on equity was 11.48%, down from 14.51% in the previous quarter.
Evans Bancorp, Inc. (NYSE American: EVBN) will release its first-quarter 2021 financial results on April 29, 2021, after market close. A conference call and webcast will follow to discuss the results, corporate strategy, and outlook, starting at 4:45 p.m. ET. The call can be accessed via phone or through the company's website. A replay will be available until May 6, 2021. Evans Bancorp, established in 1920, operates Evans Bank, a full-service community bank with $2.0 billion in assets and $1.8 billion in deposits as of December 31, 2020, serving clients in Western New York.
Evans Bancorp (NYSE American: EVBN) announced a stock repurchase program authorizing up to 300,000 shares of its outstanding common stock. This initiative aims to enhance shareholder value when combined with the company's regular semi-annual dividend. The repurchases may occur through various methods, including open market purchases and block trades, compliant with SEC regulations. However, the program does not obligate the company to repurchase specific amounts or shares and can be suspended at any time.
Evans Bancorp, Inc. (NYSE American: EVBN) announced a cash dividend of $0.60 per share on its common stock, a $0.02 increase from the previous dividend. This semi-annual dividend, payable on April 6, 2021, benefits shareholders of record as of March 16, 2021. Evans Bancorp has approximately 5.4 million shares outstanding and operates with $2.0 billion in assets and $1.8 billion in deposits, offering comprehensive financial services across Western New York.
Evans Bancorp, Inc. (NYSE American: EVBN) reported its Q4 2020 results, showcasing a 28% increase in net interest income to $16.4 million, attributed to the acquisition of Fairport Savings Bank and Paycheck Protection Program fees. Net income increased to $6.0 million, or $1.11 per share. However, full-year net income dropped to $11.2 million from $17.0 million in 2019, largely due to higher loan loss provisions amid pandemic challenges. Total assets rose 40% year-over-year, while total deposits increased 40% as well, reflecting ongoing community support.
Evans Bancorp, Inc. (NYSE American: EVBN) will release its fourth quarter and full year 2020 results after markets close on February 4, 2021. The company will hold a conference call at 4:45 p.m. ET to discuss financial results and corporate strategy, followed by a Q&A session. As of September 30, 2020, Evans Bancorp reported $2.1 billion in assets and $1.8 billion in deposits. The conference call will be available via telephone and webcast, with a replay option until February 11, 2021.