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Evans Bancorp, Inc. Increases Semi-Annual Cash Dividend to $0.60 per Share

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Marks eleventh dividend increase over last nine years

Evans Bancorp, Inc. (the "Company" or "Evans") (NYSE American: EVBN), a community financial services company serving Western New York since 1920, announced that at its meeting today, the Board of Directors declared a cash dividend of $0.60 per share on its outstanding common stock. This semi-annual dividend represents a $0.02 increase from the previous semi-annual dividend paid in October 2020.

The dividend is payable on April 6, 2021 to shareholders of record as of March 16, 2021. The Company has approximately 5.4 million shares outstanding.

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 $2.0 billion in assets and $1.8 billion in deposits at December 31, 2020. Evans is a full-service community bank with 20 financial centers providing comprehensive financial services to consumer, business and municipal customers throughout Western New York. Evans Insurance Agency, a wholly owned subsidiary, provides life insurance, employee benefits, and property and casualty insurance through ten offices in the Western New York region. Evans Investment Services 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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210216006138/en/

Contacts

John B. Connerton
Executive Vice President and Chief Financial Officer
(716) 926-2000
jconnerton@evansbank.com

Media Contact:
Kathleen Rizzo Young
Public & Community Relations Manager
716-343-5562
krizzoyoung@evansbank.com

-OR-

Deborah K. Pawlowski
Kei Advisors LLC
(716) 843-3908
dpawlowski@keiadvisors.com