For: Evans Bancorp, Inc., 14-16 North Main St. Angola, NY 14006
IMMEDIATE RELEASE
Evans Bancorp Announces Semi-Annual Cash Dividend of $0.34 Per Share
ANGOLA, NY, February 23, 2007 – Evans Bancorp, Inc. (NASDAQ: EVBN) announced today that its Board of Directors declared a semi-annual cash dividend of $0.34 per share on its outstanding common stock at its meeting on February 20, 2007. The dividend is payable on April 2, 2007 to shareholders of record as of March 12, 2007. The Company has approximately 2.7 million shares of common stock outstanding.
James Tilley, Chief Executive Officer of Evans Bancorp, commented “Our strategy for growth is to take advantage of opportunities to address the financial services needs of small and middle market customers. We will leverage our existing delivery channels and evaluate acquisitions to fill in our service area or expand outside of it. Managing our capital wisely will allow us to effectively execute our strategy and continue to optimize shareholder value.”
About Evans Bancorp, Inc. Evans Bancorp, Inc. is a financial holding company and is the parent company of Evans National Bank, a commercial bank with 11 branches located in Western New York with approximately $474 million in assets and $356 million in deposits at December 31, 2006. Evans National Leasing, Inc. is a wholly-owned subsidiary of Evans National Bank and is a general business equipment leasing company with customers throughout the U.S. ENB Insurance Agency, Inc. is an indirect, wholly-owned subsidiary of Evans Bancorp and provides retail and commercial property and casualty insurance through 12 agencies in the Western New York region. ENB Associates, a wholly-owned subsidiary of ENB Insurance Agency, provides non-deposit investment products such as annuities and mutual funds.
More information on Evans Bancorp, Inc. and Evans National Bank can be found at its websites:www.evansbancorp.com andwww.evansnationalonline.com.
Safe Harbor Statement This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements include, but are not limited to, statements concerning future business, revenues and earnings. These statements are not historical facts or guarantees of future performance, events or results. There are risks, uncertainties and other factors that could cause the actual results of Evans Bancorp to differ materially from the results expressed or implied by such statements. Factors that may cause actual results to differ materially from those contemplated by such forward-looking statements, include competitive pressures among financial services companies, general economic conditions, changes in legislation or regulatory requirements, effectiveness at achieving stated goals and strategies, difficulties in achieving operating efficiencies and difficulties in integrating acquired companies’ businesses. These risks and uncertainties are more fully described in Evans Bancorp’s Annual and Quarterly Reports filed with the Securities and Exchange Commission. Forward-looking statements speak only as of the date they are made. Evans Bancorp undertakes no obligation to publicly update or revise forward-looking information, whether as a result of new, updated information future events or otherwise.
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