Evans Bancorp Inc. reported unaudited consolidated earnings results for the third quarter and nine months ended September 30, 2009. For the quarter, the company had net income of $2.4 million, or $0.87 per diluted share, a 70.9% increase over net income of $1.4 million, or $0.52 per diluted share, in the third quarter of 2008. The significant increase in net income was largely a result of a $0.8 million, or 16.2%, increase in net interest income and a $0.7 million bargain purchase gain on the WVB acquisition. Net operating income was $2.2 million against $1.5 million a year ago. Book value per share was $16.09 at September 30, 2009, compared with $15.08 at June 30, 2009 reflecting the strong earnings realized in the 2009 third quarter. Interest income was $7.9 million against $7.6 million a year ago. Income before income taxes was $3.4 million against loss before tax of $2.2 million a year ago. Return on average total assets was 1.64% against 1.16% a year ago. Return on average stockholders' equity was 22.45% against 12.32% a year ago. For the nine months, the company recorded a net loss of $0.7 million, or $0.24 per diluted share, compared with net income of $4.4 million, or $1.60 per diluted share, in the same period in 2008. The negative return on average equity was 1.98% compared with return on equity of 13.03% in the same period in 2008. Net operating income was $535,000 against $4.7 million a year ago.

Evans Bancorp, Inc. reported its results of operations for the third quarter ended September 30, 2009 with net income of $2.4 million. The company plans to look at acquisition opportunities. David J. Nasca, President and CEO of the company said: "We have proven through the successful integration of WVB and our growth in a weak economy that we have the staff and skill sets to continue to pursue other acquisition opportunities and capture market share where our community banking capabilities are valued. Although we think there are few opportunities remaining for acquisitions in the Western New York market, we continue to investigate bank and branch opportunities that would enhance our position in this market. Additionally, we are not averse to broadening our footprint. In the meantime, we see potential for a small number of new branches in the area from which we can reach more customers that are looking for the relationship, attention, and quality products and services that Evans can provide as a community bank."

Evans Bancorp Inc. announced that its Board of Directors declared a semi-annual cash dividend of $0.20 per share on its outstanding common stock, down from the previous $0.41 rate paid April 1, 2009. The dividend is payable on October 15, 2009, to shareholders of record as of September 21, 2009. The company's stock will trade ex-dividend on September 17, 2009.