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Evans Bancorp, Inc. Announces Increased And Accelerated Dividend Of $0.24 Per Share

First graph, third sentence of release should read: The dividend is payable on December 31, 2012 to shareholders of record as of December 24, 2012 (sted December 21, 2012).

The corrected release reads:


Evans Bancorp, Inc. (the “Company) (NYSE MKT:EVBN) a community financial services company serving Western New York since 1920, announced today that its Board of Directors has declared a cash dividend of $0.24 per share on its outstanding common stock, a 9% increase from its previous $0.22 per share dividend paid on October 9, 2012. This dividend payment equates to an annualized yield of 3.1%. The dividend is payable on December 31, 2012 to shareholders of record as of December 24, 2012. The cash dividend represents an accelerated payment of the Company’s semi-annual dividend scheduled to be paid in April 2013.

David J. Nasca, President and CEO of Evans Bancorp, stated, “Given the uncertainty surrounding the federal tax treatment of dividends in the future, we believe the prepayment of our first semi-annual dividend for 2013 is in the best interest of our shareholders. The increase and acceleration of our dividend payment is attributable to the strength of our balance sheet and our strong capital position.”

The Company has approximately 4.1 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 $799 million in assets, 14 branches and $673 million in deposits at September 30, 2012. Evans is a full-service community bank, providing comprehensive financial services to consumer, business and municipal customers throughout Western New York. Evans Bancorp's wholly-owned insurance subsidiary, The Evans Agency, LLC, provides property and casualty insurance through 7 insurance offices in the Western New York region. Evans Investment Services, Inc., a wholly-owned subsidiary of Evans Bank, provides non-deposit investment products, such as annuities and mutual funds.

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