Form 4: Evans Bancorp Director Pfalzgraf Disposes of Shares Following Merger with NBT Bancorp

David R. Pfalzgraf Jr., a director of Evans Bancorp, disposed of shares following the merger with NBT Bancorp, Inc.

Summary

• On May 2, 2025, David R. Pfalzgraf Jr., a director of Evans Bancorp, disposed of 5,540 shares of common stock.
• This transaction occurred following the merger agreement between Evans Bancorp and NBT Bancorp, Inc., dated September 9, 2024.
• According to the merger 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 paid in lieu of fractional shares.

Sentiment

Score: 6

Explanation: The document is a standard regulatory filing related to a merger. The sentiment is neutral as it simply reports a transaction.

Future Outlook

The document does not contain any specific forward-looking statements beyond the completion of the merger.

Industry Context

The merger between Evans Bancorp and NBT Bancorp reflects a trend of consolidation within the banking industry, where smaller institutions combine to achieve greater scale and efficiency.

Stakeholder Impact

• Shareholders of Evans Bancorp have been impacted by the merger, receiving NBT Bancorp shares in exchange for their Evans Bancorp shares.

Key Dates

Keywords

Evans Bancorp, NBT Bancorp, Merger, Share Disposal, Director, Form 4, Pfalzgraf, EVBN