NBT Bancorp announces merger with Evans Bancorp in western New York

NBT Bancorp, Inc. and Evans Bancorp, Inc., have announced plans to merge Evans, a western New York bank, into NBT.
The announcement was made after the close of the market on Monday, Sept. 9.

Evans, which is headquartered in Williamsville, New York, in Erie County had assets of $2.2 billion as of June 30 with 18 locations in the Buffalo and Rochester markets. NBT’s assets as of June 30 totaled $13.5 billion, and the bank has 154 locations in seven Northeastern states.

“The combined organization will have the highest deposit market share in Upstate New York for any bank with assets under $100 billion and will result in a network of over 170 locations from Buffalo, New York, to Portland, Maine,” the two banks said in a statement.

NBT President and Chief Executive Officer Scott A. Kingsley said, “Adding the greater Buffalo and Rochester communities to the markets served by NBT is a natural geographic extension of our footprint in Upstate New York where we have been very active and successful for nearly 170 years.”

In August 2023, NBT completed a merger with Salisbury Bank and Trust. The merger ended an almost 100-year era for the Salisbury Bank and Trust nameplate. In 1925, the Salisbury Savings Society, dating to 1848 in Lakeville, Connecticut, merged with the Robbins Burrall Trust Co. to form SBT.

NBT’s primary subsidiary, NBT Bank, has 107 locations in Upstate New York, stretching west to east from Syracuse to the Capital District and north to south from Plattsburgh to Binghamton and the Hudson Valley.

According to a statement from both banks, NBT will acquire 100% of the outstanding shares of Evans in exchange for common shares of NBT. The exchange ratio will be fixed at 0.91 NBT shares for each share of Evans, resulting in an aggregate transaction value of approximately $236 million based on NBT’s closing stock price of $46.28 on September 6, 2024. The merger was unanimously approved by the Boards of Directors of both companies.

“We are very excited to be joining the NBT family and bringing the next generation of community banking to Buffalo, Rochester and the Finger Lakes,” said David J. Nasca, Evans President and Chief Executive Officer.

The merger is expected to close in the second quarter of 2025, subject to the satisfaction of customary closing conditions, including approval by the shareholders of Evans and the receipt of required regulatory approvals.

Latest News

Another year of solar struggles, new hearings

Farmland vista where one of the proposed solar arrays for Hecate Energy's proposed Shepherd's Run solar energy array on Route 23 in Craryville, New York.

Photo by Nathan Miller

COPAKE – The past year marked another herky-jerky dance on the community solar front for this otherwise quiet hamlet.

As 2025 rolled along, the battle between Hecate Energy LLC and residents opposed to its proposed 42-megawatt Shepherd’s Run solar farm entered its eighth year.

Keep ReadingShow less
Year in review: A year of pride, participation and progress in Millbrook

Family members of Army PFC Charles R. Johnson attended a May 29 ceremony at Nine Partners Cemetery dedicating a permanent marker recognizing Johnson’s Medal of Honor for valor during the Korean War.

Photo by Leila Hawken

MILLBROOK -- Throughout the year, a supportive Millbrook community turned out for civic participation and celebratory events, reinforcing strong local bonds while finding moments of shared pride and reflection.

Among the most significant was the long-sought recognition of PFC Charles R. Johnson, a Millbrook native who was posthumously awarded the Medal of Honor for extraordinary valor during the Korean War.

Keep ReadingShow less
Year in review: Pine Plains advances Town Hall plans and new businesses

In 2025, the historic weigh station on South Main Street was approved for reuse as Pine Plains’ first retail cannabis dispensary.

By Nathan Miller

PINE PLAINS — In 2025, Pine Plains advanced plans for a new Town Hall and welcomed new business development, even as the community grappled with the loss of its only grocery store.

The Pine Plains Town Board began in earnest this year the planning stages for a new Town Hall building. Officials plan to construct the facility at 8 N. Main St., neighboring the Bank of Millbrook branch at the intersection of Main and Church Street.

Keep ReadingShow less
North East’s commercial rezoning puts focus on housing

The North East Town Hall building, where town officials will hold a public hearing on Thursday, Jan. 8, at 7 p.m., on proposed zoning code amendments

By Nathan Miller

MILLERTON — The zoning code changes that will be the focus of a public hearing on Thursday, Jan. 8, represent a major overhaul of the code since it was adopted in the 1970s, placing a strong focus on promoting housing options in the town’s commercial district.

The hearing is scheduled for Jan.8 at 7 p.m. at Town Hall and the draft of the amendments can be found online at townofnortheastny.gov/zoning-review-committee/ or in person at Town Hall or at the NorthEast-Millerton Library.

Keep ReadingShow less