Form 4: Evans Bancorp Director Michael A. Battle Reports Share Disposal Following Merger with NBT Bancorp

Director Michael A. Battle reports the disposal of Evans Bancorp shares due to the merger with NBT Bancorp, Inc., where each share was converted into the right to receive 0.91 shares of NBT Bancorp common stock.

Summary

• Michael A. Battle, a director of Evans Bancorp Inc., filed a Form 4 indicating changes in beneficial ownership.
• The report details the disposal of 4,452 shares of Evans Bancorp common stock on May 2, 2025.
• This disposal is a result of the merger agreement between Evans Bancorp and NBT Bancorp, Inc. dated September 9, 2024.
• According to the merger terms, each share of Evans Bancorp common stock was converted into the right to receive 0.91 shares of NBT Bancorp common stock, with cash payments for fractional shares.

Sentiment

Score: 6

Explanation: The sentiment is neutral as it reflects a standard transaction following a previously announced merger. There are no indications of positive or negative surprises.

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