HAMBURG, N.Y., March 26, 2010 (GLOBE NEWSWIRE) -- Evans Bancorp, Inc. (the "Company") (Nasdaq:EVBN), a community financial services company serving Western New York since 1920, announced today that it has filed a shelf registration statement on Form S-3 with the Securities and Exchange Commission (SEC). When the shelf registration statement is declared effective by the SEC, the Company will have the flexibility to raise capital, from time to time, up to an aggregate of $60 million, through the sale of various types of securities as described in the prospectus.
The terms of any securities to be offered under this shelf registration statement will be established at the time of such offering and will be described in a prospectus supplement filed with the SEC prior to the offering.
David J. Nasca, President and CEO of Evans Bancorp, commented, "The Company continues to have a solid balance sheet and maintains capital ratios measurably above federal 'well-capitalized' standards. Having an effective shelf registration will provide flexibility over the next few years to opportunistically access the capital markets, to fund our continued growth, and take advantage of strategic opportunities, should they arise. In 2009, the Company posted record growth in both deposits and loans and acquired the banking operations of the former Waterford Village Bank."
A copy of the prospectus included in the registration statement may be obtained on the SEC's website at www.sec.gov.
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 $619 million in assets and $500 million in deposits at December 31, 2009. 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 Bancorp's 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 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 websites 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 achieving operating efficiencies. 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.