NBT Bancorp Inc. announced on December 20, 2024, that it has received all necessary regulatory approvals for its proposed merger with Evans Bancorp, Inc. The Office of the Comptroller of the Currency approved the merger of Evans Bank, N.A. into NBT Bank, N.A., and NBT received a waiver from the Federal Reserve Bank of New York for the merger of Evans into NBT. These approvals are critical milestones for the transaction.
Additionally, Evans Bancorp shareholders voted to approve the merger on December 20, 2024, with over 96% of the votes cast in favor of the transaction. This strong shareholder support underscores confidence in the strategic partnership. The merger agreement was initially entered into on September 9, 2024.
NBT President and CEO Scott A. Kingsley stated that the merger will extend NBT's footprint into the Buffalo and Rochester markets, which are a natural geographic extension for the company. The merger is expected to close in the second quarter of 2025, coinciding with the core system conversion.
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