- Net income increased to $1.9 million in the 2011 first quarter from $1.4 million in the first quarter of 2010.
- The provision for loan and lease losses declined $0.7 million reflecting the positive impact of the wind down of the national direct financing lease portfolio.
- Total deposits grew 7.5% to $585.1 million in the first quarter 2011 driven by seasonal municipal deposits and continued growth in checking and savings deposits, which increased $15.9 million, or 4.6%, during the first quarter.
- First quarter 2011 net interest margin remained strong at 4.05%.
- Strong capital position with Total Risk-Based Capital ratio of 14.21% at March 31, 2011.
Evans Bancorp, Inc. (the “Company” or “Evans”) (NYSE Amex: EVBN), a community financial services company serving Western New York since 1920, today reported its results of operations for the first quarter ended March 31, 2011. HIGHLIGHTS OF THE 2011 FIRST QUARTER