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Evans Bancorp , Inc. 6460 Main Street , Williamsville , NY 14221 FOR IMMEDIATE RELEASE News Release Evans Bancorp Reports Net Income of $ 4.9 Million in First Quarter 2021 WILLIAMSVILLE , NY , April 29 , 2021 - Evans Bancorp , Inc. ( the " Company " or " Evans " ) ( NYSE American : EVBN ) , a community financial services company serving Western New York since 1920 , today reported its results of operations for the first quarter ended March 31 , 2021. Results include the acquisition of Fairport Savings Bank ( “ FSB ” ) , effective May 1 , 2020 . FIRST QUARTER 2021 HIGHLIGHTS ( compared with prior - year period unless otherwise noted ) " " " " " Originated $ 89 million of PPP loans and $ 90 million of other commercial loans during the first quarter Net interest income increased 30 % to $ 16.6 million reflecting the FSB acquisition and fees earned in connection with Paycheck Protection Program ( " PPP " ) Results included $ 0.3 million provision for loan loss due to specific reserves associated with a single commercial customer relationship , partially offset by continued positive macroeconomic trends Total non - interest expense decreased sequentially to $ 14.4 million due to expense management efforts Total deposits increased 41 % to $ 1.87 billion Net income was $ 4.9 million , or $ 0.89 per diluted share , in the first quarter of 2021 , compared with $ 6.0 million , or $ 1.11 per diluted share , in the fourth quarter of 2020 and $ 0.2 million , or $ 0.04 per diluted share , in last year's first quarter . The increase from the prior - year period included higher net interest income of $ 3.8 million reflecting the impacts of the FSB acquisition and fees earned in connection with PPP , along with a $ 2.7 million decrease in provision for loan loss reflecting the deterioration of economic trends and conditions related to the Coronavirus pandemic ( " COVID - 19 " ) in last year's first quarter . Partially offsetting these benefits was a $ 1.5 million increase in non - interest expenses primarily due to the addition of FSB . The change in net income from the previous quarter reflected a $ 0.7 million gain on sale of assets recorded in the fourth quarter and a $ 0.4 million increase in provision for loan loss , largely reflecting specific reserves on loans associated with a single commercial customer relationship . Return on average equity was 11.48 % for the first quarter of 2021 , compared with 14.51 % in the fourth quarter of 2020 and 0.55 % in the first quarter of 2020 . " We delivered a solid quarter evidencing the promise of a reopening economy and increased business opportunities , with focused support of our clients and the community with additional PPP loans and traction in our acquisition of FSB returning us to the execution of our long - term strategy . These positive developments were muted slightly by the lingering challenges and uneven corporate recovery caused by the pandemic and margin pressures , " said David J. Nasca , President and CEO of Evans Bancorp , Inc. " Loan and deposit levels are up significantly over the past year and loan production ( excluding PPP ) is beginning the year at high levels with robust pipelines providing an optimistic view for future performance . We are encouraged by the opportunities we see as the economy recovers and believe we are well positioned to deliver strong performance going forward . "