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Evans Bancorp Reports Net Income of $2.9 Million In Third Quarter 2024

Evans Bancorp, Inc. (EVBN) 
NASDAQ:AMEX Investor Relations: snl.com/irw/corporateprofile/100885
Company Research Source: Business Wire
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, today reported results of operations for the third quarter ended September 30, 2024. The prior-year period includes business activity relating to The Evans Agency (“TEA”) prior to the sale to Arthur J. Gallagher & Co. on November 30, 2023.HIGHLIGHTSEvans announced Definitive Agreement to merge with NBT Bancorp Inc. during the third quarterNet income per share was $0.53 in the third quarter, which included $0.6 million in merger-related expenses and an offsetting gain from the sale of other real estate owned (OREO) propertyThird quarter net interest margin was 2.80%, up 9 basis points sequentially driven by balance sheet adjustments in the first quarter of 2024 and strategic deposit pricingTotal loans grew by $67 million, or 4%, since year-end 2023, and by $84 million, or 5%, compared with the prior-y Show less Read more
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