NORWICH, N.Y. — NBT Bancorp Inc. (NASDAQ: NBTB) has completed its acquisition of Evans Bancorp, Inc.
The merger closed on Friday May 2 and was followed by a core-systems conversion over the weekend, NBT announced.
The addition of Evans, which had more than $2 billion in assets, extends the NBT Bank N.A. branch network into western New York with the addition of 14 branches in the Buffalo area and four offices in the greater Rochester region, giving NBT Bank a total of 175 branches across seven states.
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“We are thrilled to welcome over 200 employees and more than 40,000 customers from Evans Bank into the NBT family as a result of this merger,” NBT President/CEO Scott A. Kingsley said in the announcement. “Adding the Buffalo and Rochester markets to our service areas is a natural extension of our footprint in Upstate New York. We look forward to building on the relationships Evans has established with customers, communities, and shareholders as we focus on continuing to support all stakeholders with a smooth transition.”
Three Evans executives have assumed leadership positions with NBT Bank. Ken Pawlak serves as president of the western region of New York and Buffalo regional president. Tim Brown is Rochester regional president, and Audrey Meyers is senior territory manager for retail banking in the Buffalo and Rochester markets.
Later this month following NBT’s annual meeting, the company will appoint former Evans President/CEO David J. Nasca to its board of directors consistent with the terms of the merger agreement.
NBT acquired 100 percent of the outstanding shares of Evans in exchange for common shares of NBT. The exchange ratio was fixed at 0.91 NBT shares for each share of Evans.
Headquartered in Norwich, NBT Bancorp is the parent company of NBT Bank, N.A., EPIC Retirement Plan, and NBT Insurance Agency, LLC. The company has total assets of $13.86 billion.
