Evans Bancorp, Inc. Increases Semi-Annual Cash Dividend to $0.62 per Share

Marks twelfth dividend increase over last ten years

Evans Bancorp, Inc. (the “Company” or “Evans”) (NYSE American: EVBN), a community financial services company serving Western New York since 1920, announced that at its meeting yesterday, the Board of Directors declared a cash dividend of $0.62 per share on its outstanding common stock. This semi-annual dividend represents a $0.02 increase from the previous semi-annual dividend paid in October 2021.

The dividend is payable on April 5, 2022 to shareholders of record as of March 11, 2022. The Company has approximately 5.5 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 $2.2 billion in assets and $1.9 billion in deposits at December 31, 2021. Evans is a full-service community bank with 21 financial centers providing comprehensive financial services to consumer, business and municipal customers throughout Western New York. Evans Insurance Agency, a wholly owned subsidiary, provides life insurance, employee benefits, and property and casualty insurance through ten offices in the Western New York region. Evans Investment Services provides non-deposit investment products, such as annuities and mutual funds.

Evans Bancorp, Inc. and Evans Bank routinely post news and other important information on their websites, at www.evansbancorp.com and www.evansbank.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220216005536/en/

John B. Connerton Executive Vice President and Chief Financial Officer (716) 926-2000 jconnerton@evansbank.com

Deborah K. Pawlowski Kei Advisors LLC (716) 843-3908 dpawlowski@keiadvisors.com

Media Contact: Kathleen Rizzo Young Public & Community Relations Manager 716-343-5562 krizzoyoung@evansbank.com

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