Evans Bancorp, Inc. Executes Definitive Merger Agreement To Acquire FSB Bancorp

Evans Bancorp, Inc. (“Evans”) (NYSE:EVBN) and FSB Bancorp, Inc. (“FSB”) (NASDAQ:FSBC), jointly announced the execution of a definitive merger agreement whereby Evans will acquire FSB for $17.80

Benzinga · 12/19/2019 21:50

Evans Bancorp, Inc. (“Evans”) (NYSE:EVBN) and FSB Bancorp, Inc. (“FSB”) (NASDAQ:FSBC), jointly announced the execution of a definitive merger agreement whereby Evans will acquire FSB for $17.80 per share for total consideration of approximately $34.7 million. The transaction is proposed to be comprised of 50% stock and 50% cash. Unanimously approved by the Boards of Directors of each company, the transaction is expected to close in the second quarter of 2020, subject to the satisfaction of customary closing conditions, including regulatory approval and FSB stockholder approval. An investor presentation summarizing the transaction is available at www.evansbancorp.com.