Evans Bank(US:EVBN)2019-04-25 18:34Financial Performance - Evans Bancorp experienced significant asset expansion, with a Compound Annual Growth Rate (CAGR) of 13% from 2014 to 2018, reaching $1.3882 billion in 2018 [3] - Core funding supported robust loan growth, with a CAGR of 14% from 2014 to 2018 [5] - The company achieved record net income, with a CAGR of 19% from 2014 to 2018, reaching $16.4 million in 2018, representing a 56% year-over-year increase [9] - First quarter 2019 revenue increased by 10% to $16.7 million compared to $15.2 million in the first quarter of 2018 [25] - First quarter 2019 net income increased by 11% to $4.2 million compared to $3.8 million in the first quarter of 2018 [26] Shareholder Returns - The company's dividend payment has steadily increased, reaching $1.04 annualized in 2019 [11] - The current dividend yield is 2.2%, 2.3% and 2.9% for EVBN, Peers and SNL respectively [12] - The dividend payout ratio in 2018 was 27.1% for EVBN, 27.8% for Peers and 28.8% for SNL [12] Strategic Initiatives - Evans Bancorp acquired Richardson & Stout Insurance effective July 1, 2018, contributing $1.3 million in revenue in 2018 [14] - The company experienced municipal savings growth, enhancing funding by $53 million year-over-year [14] - Total deposits increased 5% in the first quarter, up 12%, or $141 million, year-over-year [28]