NBT Bancorp Inc. Completes Merger With Evans Bancorp, Inc.
NBT Bancorp (NASDAQ: NBTB) has successfully completed its merger with Evans Bancorp on May 2, 2025, followed by a core systems conversion. The merger expands NBT Bank's presence into Western New York, adding 14 banking offices in Buffalo and 4 locations in Rochester. This strategic expansion brings NBT's total branch network to 175 locations across seven states.
The merger integrates over 200 Evans Bank employees and more than 40,000 customers into NBT. Three key Evans executives have taken leadership positions at NBT Bank: Ken Pawlak as Western Region and Buffalo Regional President, Tim Brown as Rochester Regional President, and Audrey Meyers as Senior Territory Manager for Retail Banking. Former Evans CEO David J. Nasca will join NBT's board of directors following the company's Annual Meeting.
NBT Bancorp (NASDAQ: NBTB) ha completato con successo la fusione con Evans Bancorp il 2 maggio 2025, seguita da una conversione dei sistemi core. La fusione amplia la presenza di NBT Bank nell'area di Western New York, aggiungendo 14 filiali a Buffalo e 4 sedi a Rochester. Questa espansione strategica porta la rete complessiva di filiali di NBT a 175 sedi in sette stati.
La fusione integra oltre 200 dipendenti di Evans Bank e più di 40.000 clienti in NBT. Tre dirigenti chiave di Evans hanno assunto ruoli di leadership in NBT Bank: Ken Pawlak come Presidente della Regione Occidentale e della Regione di Buffalo, Tim Brown come Presidente della Regione di Rochester e Audrey Meyers come Senior Territory Manager per il Retail Banking. L'ex CEO di Evans, David J. Nasca, entrerà nel consiglio di amministrazione di NBT dopo l'Assemblea Annuale della società.
NBT Bancorp (NASDAQ: NBTB) ha completado con éxito su fusión con Evans Bancorp el 2 de mayo de 2025, seguida de una conversión de sistemas centrales. La fusión expande la presencia de NBT Bank en el oeste de Nueva York, añadiendo 14 sucursales en Buffalo y 4 ubicaciones en Rochester. Esta expansión estratégica lleva la red total de sucursales de NBT a 175 ubicaciones en siete estados.
La fusión integra a más de 200 empleados de Evans Bank y más de 40,000 clientes en NBT. Tres ejecutivos clave de Evans han asumido cargos de liderazgo en NBT Bank: Ken Pawlak como Presidente Regional del Oeste y de Buffalo, Tim Brown como Presidente Regional de Rochester y Audrey Meyers como Gerente Senior de Territorio para Banca Minorista. El ex CEO de Evans, David J. Nasca, se unirá al consejo de administración de NBT tras la Junta Anual de la empresa.
NBT Bancorp (NASDAQ: NBTB)는 2025년 5월 2일 Evans Bancorp와의 합병을 성공적으로 완료했으며, 이어 핵심 시스템 전환을 진행했습니다. 이번 합병으로 NBT Bank는 웨스턴 뉴욕 지역에 진출하여 버팔로에 14개의 지점과 로체스터에 4개의 지점을 추가하게 되었습니다. 이 전략적 확장으로 NBT의 총 지점 네트워크는 7개 주에 걸쳐 175개 지점이 되었습니다.
이번 합병으로 Evans Bank의 200명 이상의 직원과 40,000명 이상의 고객이 NBT에 통합되었습니다. Evans의 주요 임원 세 명이 NBT Bank에서 리더십 역할을 맡았습니다: Ken Pawlak은 웨스턴 지역 및 버팔로 지역 사장, Tim Brown은 로체스터 지역 사장, Audrey Meyers는 소매 금융 담당 수석 지역 관리자입니다. Evans의 전 CEO David J. Nasca는 회사 연례 총회 이후 NBT 이사회에 합류할 예정입니다.
NBT Bancorp (NASDAQ : NBTB) a finalisé avec succès sa fusion avec Evans Bancorp le 2 mai 2025, suivie d'une conversion des systèmes centraux. Cette fusion étend la présence de NBT Bank dans l'Ouest de New York, en ajoutant 14 agences à Buffalo et 4 sites à Rochester. Cette expansion stratégique porte le réseau total de succursales de NBT à 175 emplacements répartis dans sept États.
La fusion intègre plus de 200 employés d'Evans Bank et plus de 40 000 clients au sein de NBT. Trois cadres clés d'Evans ont pris des postes de direction chez NBT Bank : Ken Pawlak en tant que président de la région Ouest et de la région de Buffalo, Tim Brown en tant que président de la région de Rochester, et Audrey Meyers en tant que responsable principale du territoire pour la banque de détail. L'ancien PDG d'Evans, David J. Nasca, rejoindra le conseil d'administration de NBT après l'assemblée générale annuelle de la société.
NBT Bancorp (NASDAQ: NBTB) hat am 2. Mai 2025 erfolgreich die Fusion mit Evans Bancorp abgeschlossen, gefolgt von einer Umstellung der Kernsysteme. Die Fusion erweitert die Präsenz der NBT Bank in West-New York und fügt 14 Filialen in Buffalo und 4 Standorte in Rochester hinzu. Diese strategische Erweiterung bringt das gesamte Filialnetz von NBT auf 175 Standorte in sieben Bundesstaaten.
Die Fusion integriert über 200 Mitarbeiter von Evans Bank und mehr als 40.000 Kunden in NBT. Drei wichtige Führungskräfte von Evans haben Führungspositionen bei NBT Bank übernommen: Ken Pawlak als Präsident der Westregion und der Buffalo-Region, Tim Brown als Präsident der Rochester-Region und Audrey Meyers als Senior Territory Manager für den Einzelhandelsbankbereich. Der ehemalige CEO von Evans, David J. Nasca, wird nach der Hauptversammlung des Unternehmens in den Vorstand von NBT eintreten.
- Strategic expansion into Buffalo and Rochester markets with 18 new banking locations
- Addition of 40,000+ customers expanding NBT's market reach
- Integration of experienced regional leadership team from Evans ensuring continuity
- Increased footprint to 175 branches across seven states strengthening market presence
- Integration risks and potential challenges during transition period
- Possible short-term operational costs related to merger integration
Insights
NBT Bancorp's completed merger with Evans adds 18 branches and 40,000 customers in Western New York, strategically expanding its regional banking footprint.
NBT Bancorp's acquisition of Evans Bancorp represents a significant geographical expansion into Western New York, adding 14 branches in Buffalo and 4 in Rochester. This strategic move increases NBT Bank's network to 175 branches across seven states and incorporates over 40,000 customers and more than 200 employees from Evans.
The successful completion of the core systems conversion immediately following the merger closing demonstrates efficient execution of integration plans. This technical milestone often represents one of the most challenging aspects of bank mergers, suggesting NBT has implemented thorough integration planning.
NBT's retention of three key Evans executives in leadership positions—Ken Pawlak as Western Region and Buffalo Regional President, Tim Brown as Rochester Regional President, and Audrey Meyers as Senior Territory Manager—indicates a thoughtful approach to preserving institutional knowledge and customer relationships. Furthermore, the planned appointment of Evans' former CEO David Nasca to NBT's board signals a commitment to governance continuity and regional expertise.
This transaction aligns with the broader consolidation trend in regional banking, where institutions seek scale advantages for technology investments and operational efficiency. The Buffalo and Rochester markets represent significant economic centers in Upstate New York, offering NBT meaningful growth potential through an expanded customer base in contiguous territories.
While the press release doesn't disclose financial terms or expected synergies, the merger's strategic rationale centers on geographical expansion into complementary markets rather than diversification into unrelated business lines, suggesting a focused growth strategy building on NBT's existing operational model in Upstate New York.
NORWICH, N.Y., May 05, 2025 (GLOBE NEWSWIRE) -- NBT Bancorp Inc. (“NBT” or the “Company”) (NASDAQ: NBTB) announced that it completed the merger (“Merger”) of Evans Bancorp, Inc. (“Evans”) with and into NBT on May 2, 2025, followed by a core systems conversion over the weekend.
The Merger has extended the NBT Bank, N.A. (“NBT Bank”) branch network into the Western Region of New York with the addition of 14 banking offices in the Buffalo area and 4 locations in greater Rochester. NBT Bank now has 175 branches across its seven-state footprint.
“We are thrilled to welcome over 200 employees and more than 40,000 customers from Evans Bank into the NBT family as a result of this merger,” said NBT President and CEO Scott A. Kingsley. “Adding the Buffalo and Rochester markets to our service area is a natural extension of our footprint in Upstate New York. We look forward to building on the relationships Evans has established with customers, communities and shareholders as we focus on continuing to support all stakeholders with a smooth transition.”
Three executives from Evans have assumed leadership positions with NBT Bank. Ken Pawlak now serves as President of the Western Region of New York and Buffalo Regional President. Tim Brown is Rochester Regional President, and Audrey Meyers is Senior Territory Manager for Retail Banking in the Buffalo and Rochester markets.
“The addition of Ken Pawlak, Tim Brown and Audrey Meyers to the NBT Bank leadership team will provide important continuity in leadership that will support our commitment to being responsive to our employees and customers in the Western Region of New York,” said NBT Bank President Joseph R. Stagliano. “We value their extensive banking experience and knowledge of the region.”
Later this month following NBT’s Annual Meeting of Stockholders, the Company will appoint former Evans President and CEO David J. Nasca to its board of directors consistent with the terms of the merger agreement.
About NBT Bancorp
NBT Bancorp is a financial holding company headquartered in Norwich, NY, with total assets of
Forward Looking Statements
This press release contains forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. Such forward-looking statements about NBT and its industry involve substantial risks and uncertainties. Statements other than statements of current or historical fact, including statements regarding NBT’s future financial condition, results of operations, business plans, liquidity, cash flows, projected costs, and the impact of any laws or regulations applicable to NBT, are forward-looking statements. Words such as “anticipates,” “believes,” “estimates,” “expects,” “forecasts,” “intends,” “plans,” “projects,” “may,” “will,” “should” and other similar expressions are intended to identify these forward-looking statements. Such statements are subject to factors that could cause actual results to differ materially from anticipated results.
Among the risks and uncertainties that could cause actual results to differ from those described in the forward-looking statements include, but are not limited to the following: (1) the businesses of NBT and Evans may not be combined successfully, or such combination may take longer to accomplish than expected; (2) the cost savings from the merger may not be fully realized or may take longer to realize than expected; (3) operating costs, customer loss and business disruption following the merger, including adverse effects on relationships with employees, may be greater than expected; (4) the possibility that NBT may be unable to achieve expected synergies and operating efficiencies in the merger within the expected timeframes or at all or to successfully integrate Evans’ operations and those of NBT; (5) such integration may be more difficult, time consuming or costly than expected; (6) revenues following the transaction may be lower than expected; (7) NBT’s success in executing its business plan and strategy and managing the risks involved in the foregoing; (8) the dilution caused by NBT’s issuance of additional shares of its capital stock in connection with the transaction; (9) changes in general economic conditions, including changes in market interest rates and changes in monetary and fiscal policies of the federal government; and (10) legislative and regulatory changes. Further information about these and other relevant risks and uncertainties may be found in NBT’s Annual Report on Form 10-K for the fiscal year ended December 31, 2024 and in subsequent filings with the SEC.
Forward-looking statements speak only as of the date they are made. NBT does not undertake, and specifically disclaims any obligation, to publicly release the result of any revisions which may be made to any forward-looking statements to reflect the occurrence of anticipated or unanticipated events or circumstances after the date of such statements. You are cautioned not to place undue reliance on these forward-looking statements.
| Contact: | Scott A. Kingsley, President and CEO Annette L. Burns, Executive Vice President and CFO NBT Bancorp Inc. 52 South Broad Street Norwich, NY 13815 607-337-6589 | |
This press release was published by a CLEAR® Verified individual.
FAQ
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