Evans Bancorp, Inc. (NYSE American - EVBN)

Evans Bancorp, Inc. (NYSE American – EVBN)

SHAREHOLDER NOTICE: Brodsky & Smith Announces an Investigation of Evans Bancorp, Inc. (NYSE American – EVBN)

BALA CYNWYD – September 10, 2024 /Globe Newswire/ – Law office of Brodsky & Smith announces that it is investigating potential claims against the Board of Directors of Evans Bancorp, Inc. (“Evans Bancorp” or the “Company”) (NYSE American – EVBN) for possible breaches of fiduciary duty and other violations of federal and state law in connection with the sale of the Company to NBT Bancorp Inc. (“NBT”) (Nasdaq – NBTB). Under the terms of the agreement, NBT will acquire 100% of the outstanding shares of Evans Bancorp in exchange for common shares of NBT. The exchange ratio will be fixed at 0.91 NBT shares for each share of Evans Bancorp, resulting in an aggregate transaction value of approximately $236 million based on NBT’s closing stock price of $46.28 on September 6, 2024.

The investigation concerns whether the Evans Bancorp Board breached its fiduciary duties to shareholders by failing to conduct a fair process, including whether NBT is paying fair value to shareholders of the Company.

If you own shares of Evans Bancorp stock and wish to discuss the legal ramifications of the investigation, or have any questions, you may e-mail or call the law office of Brodsky & Smith who will, without obligation or cost to you, attempt to answer your questions. You may contact Jason L. Brodsky, Esquire, or Marc L. Ackerman by email at clients@brodsky-smith.com, or call toll free 855-576-4847.

Brodsky & Smith is a litigation law firm with extensive expertise representing shareholders throughout the nation in securities and class action lawsuits. The attorneys at Brodsky & Smith have been appointed by numerous courts throughout the country to serve as lead counsel in class actions and have successfully recovered millions of dollars for our clients and shareholders. Attorney advertising. Prior results do not guarantee a similar outcome.

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