Evans Bancorp Q1 net income $2.3M ($0.42 EPS); NIM 2.79% up 4bps sequentially

EVANS BANCORP INC

2024-Q1 EPS reported $0.42 revenue$149,000

Net income $2.3M ($0.42 diluted EPS) vs $5.8M ($1.06) in Q1 2023 and $10.2M ($1.85) in Q4 2023.
Net interest margin 2.79%, up 4bps from Q4 2023 but down 67bps YoY.
Total loans $1.7B (+$63M YoY); loan pipeline $95M; deposits $1.9B (+$173M from Dec 2023).
NPLs / total loans 1.62%; allowance / loans 1.29%.
Tier 1 leverage ratio 10.52%; book value per share $31.62; tangible book value $31.29.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

EVANS BANCORP INC reported first quarter of 2024 results: net income $2.3 million, EPS $0.42 per diluted share.

Period: first quarter of 2024
Net income: $2.3 million
EPS: $0.42 per diluted share
Result: reported results

Exact text from the filing

Net income was $2.3 million, or $0.42 per diluted share, in the first quarter of 2024, compared with $10.2 million, or $1.85 per diluted share, in the fourth quarter of 2023 and $5.8 million, or $1.06 per diluted share, in last year’s first quarter.

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Source: SEC EDGAR

accession 0000842518-24-000024

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