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AI brief of an SEC Form 8-K · NBT Bancorp (NBTB)

NBT Bancorp to acquire Evans Bancorp in deal valued at about $236 million

Neutral Impact 5 of 5 m&a Written later

NBT Bancorp and its subsidiary bank signed a merger agreement to acquire Evans Bancorp, Inc., the holding company of Evans Bank, N.A. in Western New York. The companies value the transaction at about $236 million based on NBT's $46.28 closing price on September 6, 2024, and the deal is expected to close in the second quarter of 2025 after Evans shareholder and regulatory approvals. The filing lists the possible dilution from issuing additional NBT shares as a risk, so NBT shareholders would own a smaller share of the combined company.

Key points

  • Each Evans common share converts into the right to receive 0.91 shares of NBT common stock
  • Aggregate transaction value of about $236 million, based on NBT's $46.28 closing price on September 6, 2024
  • Evans had $2.26 billion in assets as of June 30, 2024, and 18 locations in the Buffalo and Rochester markets
  • Expected close in the second quarter of 2025; Evans may owe NBT an $8.4 million termination fee in certain circumstances

The filing

CompanyNBT Bancorp (NBTB)
Form8-K, current report
Filed with the SECSep 9, 2024, 4:17 PM ET
Accession number0001140361-24-040588

Items reported: 1.01 Material Definitive Agreement8.01 Other Events

Read the filing on SEC.gov ↗

Written by AI on Nov 8, 2026, 1:49 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on September 09, 2024.

Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.