该交易得到了两家公司董事会的一致批准，预计将于2025年第二季度完成。Evans Wantong Financial Holdings (EVBN.US) has agreed to a merger with NBT Bancorp (NBTB.US). After the transaction is completed, it will occupy the highest deposit market share among banks with assets of less than 100 billion US dollars in upstate New York.
The Zhitong Finance App learned that Evans Financial Holdings (EVBN.US) has agreed to a merger with NBT Bancorp (NBTB.US). After the transaction is completed, it will occupy the highest deposit market share among banks with assets of less than 100 billion US dollars in upstate New York.
In this merger, NBT will acquire 100% of Evans' tradable shares in exchange for NBT's common shares. The transaction ratio will be fixed at 0.91 NBT shares per Evans share. Based on NBT's closing price of 46.28 US dollars on September 6, 2024, the total transaction value is approximately 0.236 billion US dollars.
The deal was unanimously approved by both companies' boards of directors and is expected to close in the second quarter of 2025.
NBT President and CEO Scott A. Kingsley (Scott A. Kingsley) said the merger will expand NBT's footprint to western New York and form a network of more than 170 locations from Buffalo, New York, to Portland, Maine.
Evans is headquartered in Williamsville, New York. As of June 30, 2024, it has assets of $2.26 billion and has 18 branches in the Buffalo and Rochester markets.
As of press time, Evans rose 7% to $39.21 in after-hours trading.
