- Evans Bancorp press release ( NYSE: EVBN ): Q4 GAAP EPS of $1.10 beats by $0.02 .
- Revenue of $23.68M (-2.9% Y/Y) misses by $0.37M .
- Full year 2022 earnings of $22.4 million successfully offset approximately $9 million of nonrecurring PPP fees in last year’s earnings of $24.0 million
- Fourth quarter net interest income was $19.2 million compared with $19.7 in prior-year period, which included $3.9 million of PPP fees and other income that did not recur in the current quarter; Full year net interest income of $73.0 million reflected similar themes as the quarter
- Total commercial loan growth was strong during the quarter at $39.3 million, or 3.6%; For full year 2022, total commercial loans grew 9%, excluding PPP loans
- Fourth quarter efficiency ratio improved 385 basis points to a 62.9%; Full year ratio improved 180 basis points to 65.0%
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Evans Bancorp GAAP EPS of $1.10 beats by $0.02, revenue of $23.68M misses by $0.37M