Evans Bancorp, Inc.
(NYSE MKT: EVBN) is a financial holding company
for Evans Bank, a federally chartered community bank and Evans National Financial
Services. The Company, through its banking and financial services subsidiaries primarily
conducts business in Erie, Cattaraugus, Chautauqua and Niagara counties of Western
Evans Bank is a full-service commercial bank with principal bank product offerings
that include personal and business deposit services, online banking, consumer installment
loans, residential and commercial real estate lending, lines of credit and merchant
credit cards. Currently, Bank branches are located in Amherst, Angola, Clarence,
Derby, Elmwood Village, Evans, Forestville, Hamburg, Lancaster, North Boston, North
Buffalo, Tonawanda and West Seneca, New York; however the Bank is actively pursuing
a de novo expansion strategy to increase the size of its retail branch system.
The Company initiated a revenue diversification strategy in 2000 by acquiring non-bank
and non-interest margin based financial services businesses. Nine insurance-related
acquisitions were completed between September 2000 and October 2004, which combined
to form The Evans Agency, Inc., a subsidiary of the Company’s holding company, Evans
National Financial Services, Inc. The Evans Agency Insurance offices include fourteen
locations, several of which are located within Bank branches. In addition to auto,
home, life, business, municipal and employer insurance products and benefit programs,
the Agency includes a financial services division that offers access to investments
and securities. The Evans Agency continues a strategy to actively consolidate smaller
insurance agencies in existing or contiguous markets.