Evans Bancorp Announces a 20.6% Rise in First Quarter 2001 Earnings, Consideration of Strategies to List Common Stock on National Exchange And Results of Annual Shareholders Meeting

Apr 26, 2001, 01:00 ET from Evans Bancorp, Inc.

    ANGOLA, N.Y., April 26 /PRNewswire/ -- Evans Bancorp, Inc., the holding
 company for Evans National Bank, announced earnings for its 2001 first quarter
 ended March 31, 2001 posting net income of $655,137, an increase of
 $111,816 or 20.6% from net income of $543,321 in the 2000 first quarter.  A
 substantial portion of the increase in net income can be attributed to the
 Bank's new subsidiary, M&W Agency, Inc.  At March 31, 2001, total average
 loans of Evans National Bank increased 10.8% from a year ago to $129.9 million
 and total average deposits increased 8.9% in the same period to
 $190.4 million.
     The Company held its 13th annual meeting of shareholders on April 24th at
 Romanellos South in Hamburg, New York.  Approximately 160 shareholders
 attended the meeting.
     The Company also announced that its Board of Directors had met with an
 investment banking advisor following the annual shareholders meeting to
 suggest strategies to provide a public trading market for its common stock,
 which may include listing its common stock on either Nasdaq or the American
 Stock Exchange.  The Board expects to consider such strategies at its next
 meeting which is scheduled for May 15, 2001.  If the Company lists its stock
 on either exchange, an independent market will develop for the common stock.
 Listing of the common stock will be the equivalent of an initial public
 offering and no estimate can be given as to common stock's trading price or
 volume on such exchange.  Until the Board reaches a decision on this matter,
 the Company will curtail matching purchasers and sellers of its common stock.
     Mr. Phillip Brothman, Chairman of Evans Bancorp, Inc. and Evans National
 Bank, stated "Increasing the liquidity of the shares of the Company by
 providing a public trading market for our shares is an important priority of
 the Board in 2001. We believe that this step is in the long term best
 interests of our shareholders."
     In his remarks at the shareholder meeting, James Tilley, President of
 Evans Bancorp, Inc. and Evans National Bank, said, "In 2000, we achieved
 strong financial results and business growth while significantly enhancing our
 product offerings.  We positioned the Bank for the future with the addition in
 2000 of ENB Associates which offers non-deposit investment alternatives to our
 customers and the M&W Agency which offers a wide array of personal and
 commercial insurance products.  The year 2001 brings continued technological
 advancement by the Bank, as we introduce our low cost Internet banking
 service, Eas-E-Net, which was up and running on April 1st."
     William Glass, Senior Vice President - Loan Division, noted in his remarks
 at the shareholder meeting, "2000 was once again a year of excellent asset
 growth for our Company with year-end asset balances increasing 13%.  Small
 business lending continues to be an integral part of our future strategy as it
 provides deposit relationships for us and growth potential to the small
 businesses which are important to the communities we serve."
     Reelected by shareholders at the meeting to serve on the Company's Board
 for a term of three years were: Phillip Brothman, Partner - Hurst, Brothman &
 Yusick; David M. Taylor, President, Concord Nurseries, Inc.; and Thomas H.
 Waring, Jr., Principal, Waring Financial Group.  James Tilley, President of
 Evans Bancorp and Evans National Bank and Robert J. Miller, Jr., President of
 the Bank's insurance agency subsidiary, M&W Agency, Inc. were elected for two
 year terms, filling the unexpired terms of the late Richard M. Craig, the
 previous President, Chairman and Chief Executive Officer of Evans Bancorp and
 Evans National Bank and Richard C. Stevenson who retired on December 31, 2000
 after 42 years of service on the Board.  Of the Company's 1,759,601 shares
 outstanding, 1,242,482 or in excess of 70% of the outstanding shares were
 represented in person or by proxy at the meeting.  Each director standing for
 election received an affirmative vote of at least 97% of all votes cast at the
 meeting.
     Evans National Bank is an independent community bank and the wholly owned
 subsidiary of Evans Bancorp, Inc.
 
     This press release includes "forward-looking statements" within the
 meaning of the Private Securities Litigation Reform Act of 1995. Such
 statements include, but are not limited to, statements concerning future
 revenues and earnings.  There are risks, uncertainties and other factors that
 could cause the actual results of the Company to differ materially from the
 results expressed or implied by such statements. Information on factors that
 could affect the Company's business and results is discussed in the Company's
 periodic reports filed with the Securities and Exchange Commission.
 
     Contact:  Susan J. Herold, Vice President of Evans Bancorp, Inc.,
 716-549-1000, or fax, 716-549-0720.
 
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SOURCE Evans Bancorp, Inc.
    ANGOLA, N.Y., April 26 /PRNewswire/ -- Evans Bancorp, Inc., the holding
 company for Evans National Bank, announced earnings for its 2001 first quarter
 ended March 31, 2001 posting net income of $655,137, an increase of
 $111,816 or 20.6% from net income of $543,321 in the 2000 first quarter.  A
 substantial portion of the increase in net income can be attributed to the
 Bank's new subsidiary, M&W Agency, Inc.  At March 31, 2001, total average
 loans of Evans National Bank increased 10.8% from a year ago to $129.9 million
 and total average deposits increased 8.9% in the same period to
 $190.4 million.
     The Company held its 13th annual meeting of shareholders on April 24th at
 Romanellos South in Hamburg, New York.  Approximately 160 shareholders
 attended the meeting.
     The Company also announced that its Board of Directors had met with an
 investment banking advisor following the annual shareholders meeting to
 suggest strategies to provide a public trading market for its common stock,
 which may include listing its common stock on either Nasdaq or the American
 Stock Exchange.  The Board expects to consider such strategies at its next
 meeting which is scheduled for May 15, 2001.  If the Company lists its stock
 on either exchange, an independent market will develop for the common stock.
 Listing of the common stock will be the equivalent of an initial public
 offering and no estimate can be given as to common stock's trading price or
 volume on such exchange.  Until the Board reaches a decision on this matter,
 the Company will curtail matching purchasers and sellers of its common stock.
     Mr. Phillip Brothman, Chairman of Evans Bancorp, Inc. and Evans National
 Bank, stated "Increasing the liquidity of the shares of the Company by
 providing a public trading market for our shares is an important priority of
 the Board in 2001. We believe that this step is in the long term best
 interests of our shareholders."
     In his remarks at the shareholder meeting, James Tilley, President of
 Evans Bancorp, Inc. and Evans National Bank, said, "In 2000, we achieved
 strong financial results and business growth while significantly enhancing our
 product offerings.  We positioned the Bank for the future with the addition in
 2000 of ENB Associates which offers non-deposit investment alternatives to our
 customers and the M&W Agency which offers a wide array of personal and
 commercial insurance products.  The year 2001 brings continued technological
 advancement by the Bank, as we introduce our low cost Internet banking
 service, Eas-E-Net, which was up and running on April 1st."
     William Glass, Senior Vice President - Loan Division, noted in his remarks
 at the shareholder meeting, "2000 was once again a year of excellent asset
 growth for our Company with year-end asset balances increasing 13%.  Small
 business lending continues to be an integral part of our future strategy as it
 provides deposit relationships for us and growth potential to the small
 businesses which are important to the communities we serve."
     Reelected by shareholders at the meeting to serve on the Company's Board
 for a term of three years were: Phillip Brothman, Partner - Hurst, Brothman &
 Yusick; David M. Taylor, President, Concord Nurseries, Inc.; and Thomas H.
 Waring, Jr., Principal, Waring Financial Group.  James Tilley, President of
 Evans Bancorp and Evans National Bank and Robert J. Miller, Jr., President of
 the Bank's insurance agency subsidiary, M&W Agency, Inc. were elected for two
 year terms, filling the unexpired terms of the late Richard M. Craig, the
 previous President, Chairman and Chief Executive Officer of Evans Bancorp and
 Evans National Bank and Richard C. Stevenson who retired on December 31, 2000
 after 42 years of service on the Board.  Of the Company's 1,759,601 shares
 outstanding, 1,242,482 or in excess of 70% of the outstanding shares were
 represented in person or by proxy at the meeting.  Each director standing for
 election received an affirmative vote of at least 97% of all votes cast at the
 meeting.
     Evans National Bank is an independent community bank and the wholly owned
 subsidiary of Evans Bancorp, Inc.
 
     This press release includes "forward-looking statements" within the
 meaning of the Private Securities Litigation Reform Act of 1995. Such
 statements include, but are not limited to, statements concerning future
 revenues and earnings.  There are risks, uncertainties and other factors that
 could cause the actual results of the Company to differ materially from the
 results expressed or implied by such statements. Information on factors that
 could affect the Company's business and results is discussed in the Company's
 periodic reports filed with the Securities and Exchange Commission.
 
     Contact:  Susan J. Herold, Vice President of Evans Bancorp, Inc.,
 716-549-1000, or fax, 716-549-0720.
 
                     MAKE YOUR OPINION COUNT -- Click Here
                http://tbutton.prnewswire.com/prn/11690X48772536
 
 SOURCE  Evans Bancorp, Inc.