Gold bars to be exempt from tariffs, White House clarifies
WILLIAMSVILLE, N.Y. - Evans Bancorp (NYSE:EVBN), Inc. (NYSE American: EVBN), the parent company of Evans Bank, N.A., has declared a cash dividend of $0.66 per share on its outstanding common stock, maintaining its impressive 24-year streak of consecutive dividend payments. The dividend, which represents a 3.01% yield, is scheduled for payment on April 10, 2025, to shareholders who are on record as of March 13, 2025. According to InvestingPro, the company has shown remarkable strength with a 57.67% return over the past year.
This announcement comes as the community financial services company continues to serve Western New York, a region it has been a part of since 1920. With approximately 5.6 million shares outstanding and an annual dividend payment of $1.32 per share, the dividend declaration represents a significant return to the company’s shareholders. InvestingPro analysis indicates the company maintains a FAIR financial health rating, with analysts projecting continued profitability for the coming year.
Evans Bank, N.A., a subsidiary of Evans Bancorp, Inc., is a full-service community bank with 18 branches that offer comprehensive financial services to consumer, business, and municipal customers in the area. As of December 31, 2024, the bank reported $2.2 billion in assets and $1.9 billion in deposits, with a moderate debt-to-equity ratio of 0.64. Additionally, Evans Investment Services, part of the same financial holding company, provides non-deposit investment products like annuities and mutual funds. For detailed financial analysis and expert insights, investors can access the comprehensive Pro Research Report available on InvestingPro, which covers over 1,400 US equities.
The company’s commitment to its shareholders and customers is reflected in its consistent financial performance and its dedication to the communities it serves. The dividend payment is part of Evans Bancorp’s ongoing strategy to enhance shareholder value.
The information regarding the dividend declaration is based on a press release statement from Evans Bancorp, Inc. Investors and shareholders are encouraged to review the company’s financial statements and announcements for a comprehensive understanding of its performance and strategic direction.
In other recent news, Evans Bancorp has received regulatory approval for its merger with NBT Bancorp (NASDAQ:NBTB), marking a significant step forward in the merger process. This approval from the Office of the Comptroller of the Currency and a waiver from the Federal Reserve follows shareholder approval from Evans Bancorp in December 2023. The merger is expected to be completed in the second quarter of 2025, coinciding with a systems conversion. Keefe, Bruyette & Woods maintained a Market Perform rating on Evans Bancorp, reflecting the analyst’s view on the stock amidst these developments.
Additionally, Evans Bancorp and NBT Bancorp have issued supplemental disclosures to shareholders regarding the merger. These disclosures aim to address demand letters and complaints about deficiencies in the original proxy statements. Despite denying any wrongdoing, the companies provided additional financial details to avoid litigation that could delay the merger. The merger is part of a strategic plan to combine resources and expand the regional banking presence of both institutions.
The supplemental disclosures, filed with the SEC, include financial data of comparable companies and specifics on discount rate calculations and financial multiples. The merger, while promising, carries risks such as challenges in integration and achieving cost savings. Both companies continue to emphasize the strategic benefits of the merger despite these potential challenges.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.