Attached files
file | filename |
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8-K - FORM 8-K - EVANS BANCORP INC | l39585e8vk.htm |
EX-5.1 - EX-5.1 - EVANS BANCORP INC | l39585exv5w1.htm |
EX-1.1 - EX-1.1 - EVANS BANCORP INC | l39585exv1w1.htm |
Exhibit 99.1
News Release |
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Evans Bancorp, Inc. One Grimsby Drive Hamburg, NY 14075
IMMEDIATE RELEASE
Evans Bancorp Prices Common Stock Offering
HAMBURG, NY, May 11, 2010 Evans Bancorp, Inc. (the Company or Evans) (NASDAQ: EVBN), a
community financial services company serving Western New York since 1920, today announced the
pricing of an underwritten public offering of 1,125,000 shares of common stock at a price of $12.00
per share. After the underwriting discount and estimated offering expenses payable by the Company,
it expects to receive net proceeds of approximately $12.3 million. Evans has also granted the
underwriters a 30-day option to purchase up to an additional 97,000 shares of common stock on the
same terms and conditions to cover over-allotments, if any. The offering is expected to close on
May 14, 2010, subject to customary closing conditions.
The Company intends to use the proceeds from the offering for general corporate purposes, which
will likely include support for organic growth, and may also include financing potential
acquisitions of branches or other financial institutions.
Sandler ONeil + Partners, L.P. acted as the sole book running manager of the offering.
This press release is for information purposes only and shall not constitute an offer to sell, or
the solicitation of an offer to buy, the common stock; nor shall there be any offer or sale of
these securities in any state or jurisdiction in which such an offer, solicitation or sale would be
unlawful. The offering is being made only by means of a prospectus supplement and the accompanying
prospectus. Copies of the prospectus supplement and accompanying prospectus relating to the
offering, may be obtained from:
Sandler ONeil + Partners, L.P.
919 Third Avenue 6th Floor
New, York, NY 10022
Telephone: 212-466-7700.
919 Third Avenue 6th Floor
New, York, NY 10022
Telephone: 212-466-7700.
About Evans Bancorp, Inc.
Evans Bancorp, Inc. is a financial holding company and the parent company of Evans Bank, N.A., a
commercial bank with $635 million in assets and $511 million in deposits at March 31, 2010. The
Bank has 13 branches located in Western New York and is a full-service community bank providing
comprehensive financial services to consumer, business and municipal customers. Evans Bancorps
wholly-owned insurance subsidiary, The Evans Agency, Inc. provides property and casualty insurance
through 14 insurance offices in the Western New York region. Evans Investment Services, Inc., a
wholly-owned subsidiary of Evans Bank, provides non-deposit investment products such as annuities
and mutual funds. Evans Bancorp, Inc. and Evans Bank routinely post news and other important
information on their Web sites at www.evansbancorp.com and www.evansbank.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, revenue 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, interest rate trends, general economic
conditions, changes in legislation or regulatory requirements, effectiveness at achieving stated
goals and strategies, and difficulties in
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Evans Bancorp Prices Common Stock Offering
May 11, 2010
Page 2
May 11, 2010
Page 2
achieving operating efficiencies. These risks and uncertainties are more fully described in
Evans Bancorps 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.
###
For more information contact:
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-OR- | |
Gary A. Kajtoch
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Deborah K. Pawlowski | |
Executive Vice President and Chief Financial Officer
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Kei Advisors LLC | |
Phone: (716) 926-2000
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Phone: (716) 843-3908 | |
Email: gkajtoch@evansbank.com
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Email: dpawlowski@keiadvisors.com |