<PAGE> 1
EXHIBIT 99
<PAGE> 2
FOR IMMEDIATE RELEASE October 4, 2000
FOR:Evans National Bank Contact:
14-16 North Main Street Susan J. Herold
Angola, NY 14006 Vice President
Ph: (716) 549-1000
Fax: (716) 549-0720
Richard M. Craig, Chairman and Chief Executive Officer of Evans Bancorp, Inc.
and Evans National Bank has announced the finalization of its planned purchase
of the business and assets of M&W Group, Inc. The business will be operated by
its new subsidiary, M&W Agency, Inc. The acquisition of the business and assets
of M&W Group, Inc. in exchange for stock of Evans Bancorp, Inc. was effective
Wednesday, September 1, 2000.
Mr. Craig stated: "We are pleased with this purchase. The addition of the
products and services offered through M&W Agency, Inc. will further enhance our
ability to fully meet the financial needs in today's market."
M&W Agency, Inc. will be operated as a subsidiary of Evans National Bank under
the management of Robert G. Miller, Jr., CPCU, CLU. Mr. Miller was the former
President and majority stockholder of M&W Group, Inc.
Mr. Miller stated: "Evans Bancorp, Inc. provides resources to enable our
insurance agency to expand its market and enhance services to its customers. We
are extremely pleased with the opportunity this acquisition offers."
M&W Agency, Inc. will operate as a retail property, casualty and financial
service agency. It is headquartered in Silver Creek, New York and has additional
offices in Angola, North Collins, South Dayton, Cattaraugus, Randolph and will
open soon in West Seneca, New York. In 1999, M&W Group, Inc. had written
property and casualty premiums in excess of $13 million.
Evans Bancorp, Inc. is a bank holding company and the parent company of Evans
National Bank. Evans National Bank is headquartered in Angola, New York with
branches located in Derby, Evans, Forestville, Hamburg, North Boston and West
Seneca, New York. A full- service, FDIC insured commercial bank, Evans National
Bank had total assets of $198,788,383, total deposits of $169,948,899, and total
stockholders' equity of $18,284,938 as of December 31, 1999.
This press release contains forward-looking statements relating to the
acquisition of the business of M&W Group, Inc. As required by the Private
Securities Litigation Reform Act of 1995, the Company advises that
forward-looking statements are subject to risks known and unknown, uncertainties
and other factors that could cause actual results to differ materially
<PAGE> 3
Evans National Bank
News Release - Page 2
from those anticipated. Factors that could affect the actual results include
successful transition of this business acquisition, realizing the anticipated
synergies and business growth anticipated as a result of this acquisition and
other factors described from time to time in the Company's reports filed with
The Securities and Exchange Commission.