NBT Bancorp Inc. Supplements Proxy Statement/Prospectus Amid Merger Plans

NBT Bancorp Inc. (NASDAQ:NBTB) has released a Form 8-K filing on December 13, 2024, concerning its ongoing merger discussions with Evans Bancorp, Inc. The form highlights the company’s response to the Demand Letters and Complaints received from purported shareholders of Evans, alleging incomplete and misleading disclosures in the proxy statement related to the merger.

Despite maintaining adamantly that the allegations hold no merit, NBT Bancorp Inc. and Evans Bank, National Association have decided to supplement the proxy statement/prospectus to address any concerns that could potentially hinder the merger process. While denying any wrongdoing, the companies have chosen to provide additional disclosures to ensure transparency and to potentially mitigate any legal risks associated with the aforementioned letters and complaints.

The supplemental disclosures provided in the Form 8-K are meant to enhance the existing information presented in the proxy statement/prospectus. They are to be read in conjunction with the initial disclosure document and any discrepancies or updates detailed in the current filing now take precedence. These disclosures, dated as of December 13, 2024, aim to clarify and provide more comprehensive information to shareholders and interested parties regarding the merger discussions between the companies.

The Form 8-K filing includes amended and supplemental data regarding the merger, including detailed financial information and company comparisons as of June 30, 2024. The changes primarily affect the “PROPOSAL 1 – The Merger — Opinion of Piper Sandler & Co., Financial Advisor to Evans” section of the proxy statement/prospectus, specifically focusing on the company names, assets, loan-to-deposit ratios, and other financial metrics for a clearer comparative analysis.

NBT Bancorp Inc. and Evans remain committed to the merger process, and these supplemental disclosures signify their dedication to transparency and regulatory compliance throughout this period of transition and potential consolidation within the sector. Investors and stakeholders are urged to review the updated information provided in the Form 8-K in conjunction with the original proxy statement to gain a comprehensive understanding of the merger proceedings.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read NBT Bancorp’s 8K filing here.

NBT Bancorp Company Profile

NBT Bancorp Inc, a financial holding company, provides commercial banking, retail banking, and wealth management services. Its deposit products include demand deposit, savings, negotiable order of withdrawal, money market deposit, and certificate of deposit accounts. The company's loan portfolio comprises indirect and direct consumer, home equity, mortgages, business banking loans, and commercial loans; commercial and industrial, commercial real estate, agricultural, and commercial construction loans; and residential real estate loans.