Midwest Investment Conference

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1 NYSE MKT: EVBN Midwest Investment Conference June 22, 2016 David J. Nasca President & CEO John B. Connerton Senior Vice President & CFO

2 Safe Harbor Statement This presentation includes "forward looking statements" within the meaning of the Private Securities Litigation Reform Act of Such statements include, but are not limited to, statements concerning future business, revenue and earnings. These statements are not historical facts or guarantees of future performance, events or results. There are risks, uncertainties and other factors that could cause the actual results of the Company to differ materially from the results expressed or implied by such forward-looking statements. Information on factors that could affect the Company's business and results is discussed in the Company's periodic reports filed with the Securities and Exchange Commission. Forward looking statements speak only as of the date they are made. The Company undertakes no obligation to publicly update or revise forward looking information, whether as a result of new, updated information, future events or otherwise. 2

3 Evans Bancorp, Inc. (NYSE MKT: EVBN) Community-based financial services company Provides banking, insurance and investment services in WNY Relationship-focused organization; serves as a trusted advisor Easy to interact with; an excellent work environment for top talent Recent Price $ week range $ Market Capitalization $105.3 million Total Shares Outstanding 4.28 million Ownership Insider 4% Institutional 43% Dividend Yield * 3.1% Total Assets $989.9 million Total Gross Loans (excl. Leases) $796.8 million Total Deposits $849.0 million Total Common Equity $92.2 million Tangible Book Value $19.64 Market data as of June 17, 2016 [Source: Bloomberg]; Financial data as of March 31, 2016; Ownership as of most recent filing * annualized dividend 3

4 Diversified Financial Services Company Evans Established: 1920 Bank Branches: 14 Insurance Agency Locations: 7 Q TTM Revenue: $46.1 million Other Non-interest Income Insurance & Investment Services Fee Income 16% 14% 70% Net Interest Income Revenue Mix 4

5 Executed Strategic Plan ( ) Refocus Community Banking Model 33% Loans Fee Based Income Growth Effective Lending Strategy Optimize Technology: Execute core conversion Strengthen Operating Model Effective Risk Management Strategic Plan 18% Deposits % of Total Revenue 2015 Non-Interest Income Returned Capital to Shareholders 5

6 Initiatives to Drive Growth Expanding commercial lending capability Implemented core banking technology system Investing in evolving franchise Rebuilt Lancaster financial center Opened Niagara County financial center Digital distribution advancements and service capabilities Interactive Teller Machine (ITM), consumer mobile check deposit, online loan applications and expanded call center capabilities Next: Commercial mobile check deposit, online account origination and expanded ITM footprint 6

7 Core Business Drivers Growing the balance sheet Loan diversification and fee revenue expansion Maintain credit discipline Position for long-term, sustainable growth and value creation 7

8 On Precipice of $1 Billion in Assets (in millions) 9% YOY Q1 16 vs Q1 15 $809.7 $833.4 $846.8 $ % CAGR (2012 Q1 2016) $989.9 Driven by organic loan and deposit growth Q Platforms increased future earnings power 8

9 Robust Loan Growth (in millions) High quality in-market commercial loans $581.3 $647.0 $695.7 $774.0 $ % CAGR (2012 Q1 2016) Capturing strong credits from competition Q Supports core business strategy 9 Strong loan pipeline

10 Loan Portfolio Diversification Q Total Loan Portfolio $796.8 million Q Commercial Loan Portfolio $3 $107 $62 $151 20% 11% 32% $475 22% 15% Commercial & Multi-Family* Commercial & Industrial Consumer & Other Home Equities Residential Mortgage* Non-owner occupied CRE Owner occupied CRE C & I Multi-family Construction / Development 10 * Includes construction loans

11 Solid Credit Fundamentals 3% 2% 1% 0% NPAs to Total Loans + OREO 2.12% 2.07% 2.25% 1.41% 1.52% Q Net Charge Offs to Average Loans Booking high quality assets Solid underwriting discipline 1% 0% 0.29% (0.04)% (0.06)% 0.42% (0.02)% Strong customer relationships Q EVBN SNL >$500M <$1B Peer Group 11

12 Strong Core Deposit Growth (in millions) $679.0 $706.6 $707.6 $803.0 $ % YOY Q1 16 vs Q % CAGR (2012 Q1 2016) Q % NOW 11% Savings Q Deposit Composition 32% 55% 13% Savings & Money Market Time Deposits Demand & NOW New money market account Driving new deposits and cross-sell opportunities 12

13 Net Interest Margin 3.84% 12 basis points above peer group 3.63% 3.57% 3.69% Strong loan pipeline Q Q SNL >$500M <$1B Peer Group EVBN Margin headwinds Competitive pressure Interest rates 13

14 Efficiency Ratio 72.4% 70.9% 70.6% 75.8% Operational and technical infrastructure in place Leverage future accelerated growth Q Q SNL >$500M <$1B Peer Group EVBN 14

15 Non-Interest Income Opportunity Q TTM Non-Interest Income: $13.6 Million Bank Charges 13% 31% Other Income 4% 52% Insurance Service & Fees 30% of total Q TTM revenue Emphasis on expanding: Financial services Employee benefits Insurance Cash management Bank-owned Life Insurance 15

16 Building Return on Capital Total Risk Based Capital Tangible Book Value 13.1% 13.2% $17.26 $18.48 $19.53 $19.64 $ % Regulatory guideline 2015 Q Q

17 Returning Capital to Shareholders Increased semi-annual dividend to $0.38 in 2016, an 11% increase Current Dividend Yield Dividend Payment History 2.9% 3.2% 3.4% $0.50 $0.65 $ % $0.24 $0.26 SNL* Local Peers EVBN High Performing Peers 2013** * SNL represents banks >$500M <$1B ** One semi-annual dividend ($0.24) was accelerated into

18 NYSE MKT: EVBN Market Opportunity / Future Vision

19 Regional Resurgence Stanton Building Building Varsity Theatre Tim Hortons Café & Bake Shop Community Reinvestment Buffalo Building Reuse Project $1 million committed Created Housing Opportunity Fund Seneca Street Lofts 19

20 Opportunity from Market Disruption Market Share By Deposits: $39.8B EVANS EVANS All Others (10) 1.8% 3.3% Citizens 4.3% Bank of America 5.0% Key Bank 8.9% First Niagara 25.9% M&T Bank 50.8% Source: FDIC, as of June 30, 2015 (Metropolitan Statistical Area: Buffalo-Cheektowaga-Niagara Falls, NY) 20

21 Transformative Growth Phase of Strategy New Four-Year Plan ( ) IT Optimization Organic Market Growth: Lead with Business Market Disruption Capital Management Fee-based Income Growth Talent Acquisition & Retention Retail Transformation 21

22 Transformative Growth Stronger Growth Platform Expanded electronic distribution channels Growing commercial business deepen market penetration Operational and technical infrastructure in place Capitalize on impending market disruption 3-4 years 1-2 years Net income in excess of $10 million ROE: Double digit ROA: greater than 85% 2016 Approach $1.5 billion in assets 22 $1 billion in assets Similar earnings to 2015 Continue to set the stage for accelerated growth

23 Investment Highlights Strong and growing franchise in resurgent WNY Diverse revenue mix, strong operating fundamentals Core deposit and loan growth Lower-risk balance sheet with solid capital base Sophisticated / experienced management team Shareholder return orientation Historically reasonable valuation 23

24 NYSE MKT: EVBN Midwest Investment Conference June 22, 2016

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