May 13, 2020

On May 1, 2020, FSB Bancorp, Inc., Fairport, New York, the holding company for Fairport Savings Bank, successfully completed its merger with Evans Bancorp, Inc., Hamburg, New York, the holding company for Evans Bank.  With $323.3 million in assets, FSB Bancorp, Inc. operated five full-service offices in the greater Rochester metropolitan area.

Under the terms of the merger agreement, each share of common stock of FSB Bancorp, Inc. was converted into the right to receive either (i) $17.80 in cash or (ii) 0.4394 share of common stock of Evans Bancorp, Inc., subject to the allocation and proration procedures contained in the merger agreement.

With approximately $1.85 billion in total assets following completion of this merger, Evans Bancorp, Inc. provides banking services through 20 branch locations throughout western New York.

Luse Gorman served as legal counsel to FSB Bancorp, Inc. in the transaction. The Luse Gorman team consisted of Eric Luse, Benjamin AzoffJeffrey CardoneGregory Sobczak and Brendan Saxon.

Luse Gorman has served as counsel on more than 100 financial institution mergers and acquisitions during the past five years, which is more than any other legal advisor during that time period. To learn more about our mergers and acquisitions practice, please visit our website.