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Evans Bancorp/FSB Bancorp deal has $1.4M termination fee

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Evans Bancorp/FSB Bancorp deal has $1.4M termination fee

The merger between Hamburg, N.Y.-based Evans Bancorp Inc. and Fairport, N.Y.-based FSB Bancorp Inc. carries a termination fee of $1.4 million.

FSB Bancorp must pay Evans Bancorp the fee upon termination, depending on certain conditions.

The deal, valued at about $34.7 million, is expected to close in the second quarter of 2020.