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Parent Company Only Financial Information
12 Months Ended
Dec. 31, 2020
Parent Company Only Financial Information [Abstract]  
Parent Company Only Financial Information 24.PARENT COMPANY ONLY FINANCIAL INFORMATION

Parent company (Evans Bancorp, Inc.) only condensed financial information is as follows:

CONDENSED BALANCE SHEETS

December 31,

2020

2019

(in thousands)

ASSETS

Cash

$

1,642

$

1,027

Other assets

485

407

Investment in subsidiaries

198,873

159,620

Total assets

$

201,000

$

161,054

LIABILITIES AND STOCKHOLDERS’ EQUITY

LIABILITIES:

Subordinated debt

$

30,872

$

11,330

Other liabilities

1,223

1,271

Total liabilities

32,095

12,601

STOCKHOLDERS’ EQUITY

Total Stockholders’ Equity

$

168,905

$

148,453

Total liabilities and stockholders’ equity

$

201,000

$

161,054


CONDENSED STATEMENTS OF INCOME

December 31,

2020

2019

2018

(in thousands)

Dividends from subsidiaries

$

4,500

$

4,500

$

8,300

Income

-

4

147

Expenses

(3,290)

(1,323)

(927)

Income before equity in undistributed

earnings of subsidiaries

1,210

3,181

7,520

Equity in undistributed earnings of subsidiaries

10,036

13,833

8,836

Net income

11,246

17,014

16,356

Other comprehensive income

-

-

-

Comprehensive income

$

11,246

$

17,014

$

16,356

CONDENSED STATEMENTS OF CASH FLOWS

Year Ended

2020

2019

2018

(in thousands)

Operating Activities:

Net income

$

11,246

$

17,014

$

16,356

Adjustments to reconcile net income to

net cash provided by operating activities:

Undistributed earnings of subsidiaries

(10,036)

(13,833)

(8,836)

Changes in assets and liabilities affecting cash flow:

Other assets

(78)

130

(470)

Other liabilities

(48)

4

250

Other

314

180

153

Net cash provided by operating activities

1,398

3,495

7,453

Investing Activities:

Proceeds from equity securities sales

-

-

1,960

Investment in subsidiaries

(15,000)

-

(5,000)

Net cash used in investing activities

(15,000)

-

(3,040)

Financing Activities:

Proceeds from issuance of common stock

717

1,178

1,025

Cash dividends paid

(5,991)

(5,092)

(4,428)

Proceeds from long-term borrowings

20,000

-

-

Debt Issuance Cost of Long Term Borrowings

(509)

-

-

Net cash used in financing activities

14,217

(3,914)

(3,403)

Net increase (decrease) in cash

615

(419)

1,010

Cash beginning of year

1,027

1,446

436

Cash ending of year

$

1,642

$

1,027

$

1,446