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Evans Bancorp (EVBN)
NYSE MKT:EVBN
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Earnings Data
Report Date
Jan 30, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
$0.48Last Year’s EPS
$1.85Same Quarter Last Year
Based on 1 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Oct 31, 2024
|% Change Since: 10.67%
|Next Earnings Date:Jan 30, 2025
Earnings Call Sentiment|Neutral
The earnings call highlighted strong growth in the loan portfolio, a significant increase in net income, and successful deposit gathering efforts. However, challenges included a decline in year-over-year net interest income and ongoing competitive pressure on deposit pricing. The overall sentiment is cautiously optimistic with a focus on strategic priorities for sustained growth.Company Guidance
During the Evans Bancorp Q2 2024 earnings call, the company provided guidance indicating a cautiously optimistic outlook for the remainder of the year. The bank reported a solid performance with a notable 26% increase in net income on a sequential basis, achieving earnings of $2.9 million or $0.53 per diluted share. The growth was driven by higher net interest income, which increased to $14.3 million, and lower noninterest expenses. The bank's net interest margin was reported at 2.71%, slightly down from the previous quarter but exceeding internal expectations due to strategic balance sheet optimization. The commercial loan production was robust, with $44 million in originations and a $137 million pipeline, setting the stage for anticipated mid-single-digit growth for the full year. The bank also highlighted its successful deposit gathering efforts, which saw a year-to-date increase of $173 million or 10%. Looking forward, Evans Bancorp expects modest increases in funding costs in the third quarter, with the net interest margin anticipated to decrease slightly to approximately 2.68%. The bank also remains focused on maintaining operational efficiencies and managing expenses to ensure sustainable returns.Strong Loan Portfolio Growth
Commercial loan production produced $44 million in originations with a $137 million pipeline in place, anticipating mid-single-digit growth for the full year.
Significant Increase in Net Income
Net income increased by 26% on a sequential basis, driven by higher net interest income and lower noninterest expenses.
Stable Deposit Base and Balance Sheet Optimization
Deposit gathering efforts resulted in gains in both retail and commercial businesses, with a year-to-date increase of $173 million or 10%.
Efficiency Improvements
The introduction of electronic signature pads in branches improved data integrity and efficiency, reducing paper consumption.
Community Engagement
Continued commitment to community banking with involvement in Regional Revitalization Partnership, a $300 million initiative to revitalize economically distressed neighborhoods.
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EVBN Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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EVBN Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Oct 31, 2024 | $39.82 | $39.54 | -0.70% |
| Jul 30, 2024 | $32.89 | $34.29 | +4.26% |
| Apr 30, 2024 | $25.15 | $23.92 | -4.89% |
| Feb 01, 2024 | $28.42 | $28.54 | +0.42% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does Evans Bancorp (EVBN) report earnings?
Evans Bancorp (EVBN) is schdueled to report earning on Jan 30, 2025, TBA Not Confirmed.
What is Evans Bancorp (EVBN) earnings time?
Evans Bancorp (EVBN) earnings time is at Jan 30, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is EVBN EPS forecast?
EVBN EPS forecast for the fiscal quarter 2024 (Q4) is $0.48.
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