Business Description
Evans Bancorp, Inc. is a New York business corporation which is registered
as a financial holding company under the Bank Holding Company Act of 1956, as
amended (the “BHCA”). The principal office of the Company is located
at One Grimsby Drive, Hamburg, NY 14075 and its telephone number is (716) 926-2000.
This facility is occupied by the Office of the President and Chief Executive
Officer of the Company, as well as the Administrative and Loan Divisions of
Evans Bank. The Company was incorporated on October 28, 1988, but the continuity
of its banking business is traced to the organization of the Evans National
Bank of Angola on January 20, 1920. Except as the context otherwise requires,
the Company and its direct and indirect subsidiaries are collectively referred
to in this report as the “Company.” The Company’s common stock
is traded on the NYSE MKT under the symbol “EVBN.”
Evans National Holding Corp. (“ENHC”). ENHC, a wholly-owned subsidiary
of the Bank, operates as a real estate investment trust that holds commercial
real estate loans and residential mortgages, providing additional flexibility
and planning opportunities for the business of the Bank.
Evans National Financial Services, LLC (“ENFS”). ENFS is a wholly-owned
subsidiary of the Company. ENFSs primary business is to own the business and
assets of the Company’s non-banking financial services subsidiaries.
Frontier Claims Services, Inc. (“FCS”). FCS is a wholly-owned subsidiary
of TEA and provides claims adjusting services to various insurance companies.
Evans National Leasing, Inc. (“ENL”). ENL, a wholly-owned subsidiary
of the Bank, provided direct financing leasing of commercial small-ticket general
business equipment to companies located throughout the contiguous 48 United
States. The Company exited the leasing business in 2009 and currently has only
minimal activity, primarily collecting recoveries of previously charged off
leases.
The Company also has two special purpose entities: Evans Capital Trust I, a
statutory trust formed in September 2004 under the Delaware Statutory Trust
Act, solely for the purpose of issuing and selling certain securities representing
undivided beneficial interests in the assets of the trust, investing the proceeds
thereof in certain debentures of the Company and engaging in those activities
necessary, advisable or incidental thereto; and ENB Employers Insurance Trust,
a Delaware trust company formed in February 2003 for the sole purpose of holding
life insurance policies under the Bank’s bank-owned life insurance (“BOLI”)
program.
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