Evans Bancorp Acquired by NBT Bancorp | Financial Services M&A Deal

NBT Bancorp has completed the acquisition of Evans Bancorp, a banking business in New York, for $221.8 million. Evans Bancorp operates Western New York banking with 18 locations and provides loans and deposits that expand NBT Bancorp’s customer base and lending footprint. NBT Bancorp acquisitions in financial services M&A focus on improving net interest margin, growing fee-based businesses, and strengthening deposit growth across major segments in NY. The strategic acquisition is an add on acquisition completed in May 2025, adding about 200 employees and $1.67 billion in loans and $1.86 billion in deposits, with NBT issuing 5.1 million shares of common stock at closing.