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Purchase vertically integrates technology solutions capability and
expands flexibility
Evans Bancorp, Inc. (NASDAQ: EVBN) announced today that its wholly-owned
subsidiary, Evans Bank, N.A., has acquired Suchak Data Systems, Inc.
(SDS), which serves the data processing needs of financial institutions
with customized solutions, consultative services and state of the art
technology.
“This acquisition enables us to drive the strategic direction of our
information technology platform by augmenting our resources and
increasing our in-house capabilities in order to expand our operational
flexibility, create scalability and mitigate risk as we grow,” remarked
David J. Nasca, president and chief executive officer of Evans Bancorp.
Evans Bank has been a client of SDS since it was established in 1981.
SDS hosts the Bank’s core and primary banking systems along with
providing product development and programming services. In addition to
Evans Bank, its other major customers include the Bank of Akron,
Lakeshore Savings Bank and Somerset Trust Company. SDS’s products and
services include core and online banking systems, check imaging, item
processing and ATM services.
“SDS is proud to join forces with an organization with which we have
successfully partnered for over twenty-five years,” stated Vinod Suchak,
president and CEO of SDS, Inc. “This combination will allow us to
utilize our combined resources to advance the systems infrastructure of
Evans Bank while enhancing our capabilities to serve our customers.”
Vinod Suchak will become Vice President and Managing Director of Data
Center Services. Its operations and ten employees will continue to
operate from its Grand Island facility which was included in the
acquisition.
Financial terms of the acquisition were not disclosed.
ABOUT EVANS BANCORP, INC.
Evans Bancorp, Inc. is a financial holding company and the parent
company of Evans Bank N.A., a commercial bank with $502 million in
assets and $404 million in deposits at September 30, 2008. The Bank has
12 branches located in Western New York. Evans National Leasing, Inc.,
an indirect, wholly-owned subsidiary of Evans Bank is a general business
equipment leasing company with customers throughout the U.S. Evans
Bancorp’s wholly-owned insurance subsidiary, The Evans Agency, Inc.,
provides retail property and casualty insurance through 15 insurance
offices in the Western New York region.