Evans Bancorp (EVBN) Tops Q3 EPS by 19c

Evans Bancorp (NYSE: EVBN) reported Q3 EPS of $0.84, $0.19 better than the analyst estimate of $0.65.

• Net interest income increased 15% to $15.6 million reflecting the Fairport Savings Bank (“FSB”) acquisition and fees earned in connection with Paycheck Protection Program (“PPP”) lending
• Significant deposit growth of $522 million, or 41%
• Results include $0.5 million of remaining merger costs and a $2.3 million increase in loan loss provision to reserve for well-defined weakness in the Bank’s hotel portfolio
• Completed a private placement of $20 million of subordinated notes in July

For earnings history and earnings-related data on Evans Bancorp (EVBN) click here.

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