Evans Bancorp, Inc. (AMEX:EVBN) Q3 2023 Earnings Call Transcript

David Nasca: I think the answer that John was talking about asset liability, we’re considering all options to create value for the shareholders. We’re looking at all long-term options strategically. So that’s sort of the answer, we look at everything.

Chris O’Connell: Got it. Any chance you can just expand on, if you guys have taken a look at that, how you guys weigh the pros and cons in that type of transaction?

David Nasca: Well, on any transaction that we look at, we look at long-term return to shareholders, and what happens to capital where, how we redeploy all those things. It is a full business case for any opportunities we look at but we look at everything.

Chris O’Connell: Great. And I apologize if I missed it earlier, but I know you guys gave the loan pipeline at 67 million. Any thoughts on just overall net loan growth going forward? And what the oncoming yields are?

David Nasca: Well, I think what we’re looking at is, we think the run rate that we talked about was sort of low single digits, the 2% to 3% level. The oncoming rates that we’re looking at is generally we’re getting — our general yield spread is 250 over the comparable term. We’re getting a little more in some cases, right now, we’re able to get that because it’s a more challenging environment. We’re making sure we’re being paid for the risk. But you’re seeing we’re generally holding their spreads a little plus.

John Connerton: So just the yields are typically, Chris, somewhere 7.5 and above.

Operator: There are no further questions in the queue. I’d like to hand the call back to management for closing remarks.

David Nasca: Thank you. Real quickly, I’d like to thank everybody for participating in our teleconference today. We certainly appreciate your continued interest and support. Please feel free to reach out to us at any time. And we look forward to talking with all of you again when we report our fourth quarter results for 2023. We hope you have a great day. Thank you very much.

Operator: Ladies and gentlemen, this does conclude today’s teleconference. Thank you for your participation. You may disconnect your line at this time, and have a wonderful day.