05:32 PM EDT, 09/09/2024 (MT Newswires) -- NBT Bancorp ( NBTB ) and Evans Bancorp ( EVBN ) said Monday they have signed a merger agreement

Evans will merge into NBT after the former acquires all Evans shares for 0.91 NBT shares each, valuing the deal at $236 million.

The merged entity will be one of the top regional banks in Upstate New York in terms of deposits and will have over 170 locations from Buffalo, New York, to Portland, Maine.

The merger is expected to close in Q2 of 2025, pending customary closing conditions, according to a joint statement.

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