Form 4: Evans Bancorp Director Jody L. Lomeo Reports Share Disposal Following Merger with NBT Bancorp

Director Jody L. Lomeo reports the disposal of Evans Bancorp shares due to the merger with NBT Bancorp, where each share was converted into the right to receive 0.91 shares of NBT Bancorp.

Summary

• Jody L. Lomeo, a director of Evans Bancorp Inc., filed a Form 4 on May 2, 2025, reporting changes in beneficial ownership.
• The filing indicates that Lomeo disposed of 5,978 shares of Evans Bancorp common stock.
• This disposal is a result of the merger agreement between Evans Bancorp and NBT Bancorp, Inc. dated September 9, 2024.
• According to the agreement, each share of Evans Bancorp common stock was converted into the right to receive 0.91 shares of NBT Bancorp, Inc. common stock, with cash payments made in lieu of fractional shares.

Sentiment

Score: 5

Explanation: Neutral sentiment as the filing simply reports a transaction resulting from a previously announced merger.

Future Outlook

The merger between Evans Bancorp and NBT Bancorp is complete, with Evans Bancorp shares converted to NBT Bancorp shares.

Industry Context

This announcement reflects ongoing consolidation trends within the banking sector, where smaller institutions merge with larger entities to achieve economies of scale and expand market reach.

Stakeholder Impact

• Shareholders of Evans Bancorp have had their shares converted into the right to receive shares of NBT Bancorp.

Key Dates

Keywords

Form 4, Beneficial Ownership, Evans Bancorp, NBT Bancorp, Merger, Director, Share Disposal