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Evans Bancorp Inc (symbol: EVBN) is a full-service financial institution with nearly a century of local management, operating primarily in Western New York. The company is divided into two main segments: Banking Activities and Insurance Agency Activities. Through its subsidiaries, Evans Bancorp provides a broad range of banking services to both consumer and commercial clients.
The Banking Activities segment encompasses commercial and consumer banking services, including lending, depository services, and the provision of non-deposit investment products such as annuities and mutual funds. This segment is designed to meet the varied financial needs of individuals, businesses, and municipalities in the region.
The Insurance Agency Activities segment operates through The Evans Agency, LLC, offering a variety of premium-based insurance policies on a commission basis. This includes business and personal insurance, employee benefits, surety bonds, risk management, life, disability, and long-term care coverage. Additionally, the segment provides claims adjusting services to various insurance companies.
Evans Investment Services, Inc., another subsidiary, delivers non-deposit investment and wealth management services, catering to clients’ broader financial planning and investment needs.
With fourteen neighborhood banking offices and seven insurance offices, Evans Bancorp is deeply rooted in its community values and maintains strong relationships based on trust and reliability. The company continues to evolve and expand its service offerings to better meet the needs of its customers.
Recent developments include the signing of a definitive agreement by Arthur J. Gallagher & Co. to acquire The Evans Agency, LLC. This transaction, expected to close in the fourth quarter of 2023, will see The Evans Agency operate under Gallagher's Northeast region retail property/casualty brokerage operations, enhancing their capabilities in Western New York.
Evans Bancorp, Inc. (NYSE American: EVBN) will release its first quarter 2023 financial results on April 27, 2023, after market close. A conference call is scheduled for 4:45 PM ET on the same day, where company executives will discuss the results and future strategy. Investors can access the call by phone or via a webcast. The call will be archived for replay until May 4, 2023. Evans Bancorp, founded in 1920, is a community bank with $2.2 billion in assets and $1.8 billion in deposits as of December 31, 2022, and operates 18 branches in Western New York, offering a variety of financial services.
Evans Bancorp, Inc. (AMEX: EVBN) has announced a cash dividend of $0.66 per share, marking a $0.02 increase from the previous dividend. This semi-annual dividend, representing the fourteenth increase over the last eleven years, will be payable on April 4, 2023 to shareholders recorded by March 10, 2023. With approximately 5.5 million shares outstanding, the company, which operates 18 branches in Western New York, reported $2.2 billion in assets and $1.8 billion in deposits as of December 31, 2022.
Evans Bancorp reported a net income of $6.0 million for Q4 2022, a 3% increase from the previous year, translating to $1.10 per diluted share. Full-year earnings reached $22.4 million, reflecting a slight decline from $24.0 million in 2021, largely due to increased loan loss provisions. Commercial loan growth totaled $39.3 million for Q4, marking a 9% increase for the year. The efficiency ratio improved to 62.9% in Q4. However, total deposits decreased by 9% year-over-year, indicating potential challenges in maintaining customer deposits amid competitive pressures. The company plans to focus on loan growth and customer acquisition while navigating economic headwinds.
Evans Bancorp, Inc. (AMEX: EVBN) has announced the release date for its fourth quarter and full year 2022 financial results. The results will be disclosed after the close of the financial markets on February 2, 2023. Following this announcement, the Company will conduct a conference call and webcast at 4:45 p.m. ET to review financial performance and corporate strategies. Evans Bancorp operates in Western New York and has $2.1 billion in assets and $1.9 billion in deposits as of September 30, 2022.
Evans Bancorp reported third quarter 2022 results, achieving net income of $5.9 million or $1.06 per diluted share. This reflects a 6% increase in net interest income, despite a decline in Paycheck Protection Program (PPP) fees. Total loans increased by $87 million or 5%, while total deposits remained stable at $1.87 billion. The company faced a higher loan loss provision of $1.3 million due to a charged-off commercial loan. Efficiency improved, with a ratio of 63.3%. The company continues to show optimism about its local economy despite ongoing challenges.
Evans Bancorp, Inc. (NYSE American: EVBN), a community financial services provider, will release its third quarter 2022 results on October 26, 2022, after market close. A conference call and webcast will follow at 4:45 p.m. ET to discuss the results and corporate strategies, including a question-and-answer session. The company, with $2.2 billion in assets and $2.0 billion in deposits as of June 30, 2022, serves the Western New York region with comprehensive financial services through 18 branches.
Evans Bancorp, Inc. has declared a cash dividend of $0.64 per share, a $0.02 increase from April 2022. This semi-annual dividend marks the thirteenth increase in the last decade. The dividend will be payable on October 4, 2022 to shareholders of record as of September 13, 2022. With approximately 5.5 million shares outstanding, the company continues to demonstrate its commitment to returning value to shareholders while managing $2.2 billion in assets.
Evans Bancorp reported a solid second quarter for 2022, with net income reaching $5.7 million, or $1.03 per diluted share. Total deposits increased 4% to $1.97 billion, while total loan balances rose 4%, excluding PPP loans. Net interest income stood at $18.1 million, despite declining PPP fees. The efficiency ratio improved to 65.2%. Return on average equity was 13.77%. The company anticipates further benefits from rising interest rates, while maintaining a cautious outlook on asset quality amidst economic changes.
Evans Bancorp, Inc. (NYSE American: EVBN) will release its second quarter 2022 financial results after market close on
Evans Bancorp, Inc. (NYSE American: EVBN) reported a net income of $4.7 million or $0.86 per diluted share for Q1 2022, down from $5.9 million in Q4 2021. Net interest income decreased to $16.5 million due to lower PPP fees as the program winds down. Total loans rose by 6%, and deposits reached $1.99 billion, marking a 6% increase. The company’s return on equity fell to 10.46%. Despite challenges, management emphasizes solid revenue performance and prospects for loan growth in a rising rate environment.
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