January 13, 2015 (Shareholders Foundation) - An investigation on behalf of current long-term investors in shares of Evans Bancorp Inc. (NYSEMKT:EVBN) shares was announced over potential breaches of fiduciary duties by certain officers and directors at Evans Bancorp.

The investigation by a law firm concerns whether certain Evans Bancorp officers and directors breached their fiduciary duties and caused damage to the company and its shareholders.

A lawsuit has been filed by the Attorney General of New York against Evans Bancorp Inc. (alleging violations of the Fair Housing Act. On September 2, 2014, Eric Schneiderman, Attorney General for the State of New York, filed a complaint alleging violations of the Fair Housing Act, the New York State Human Rights Law and the code of the City of Buffalo. More specifically, the plaintiff alleges that Evans Bancorp intentionally excluded predominantly African-American neighborhoods from its lending location, as well as building mortgage merchandise that it stated had been unavailable in those neighborhoods, regardless of creditworthiness. The bank is also accused of refusing to solicit prospects, market mortgages or locate banking facilities in these neighborhoods.

Evans Bancorp Inc. (NYSEMKT:EVBN) reported that its annual Net Income declined from $8.13 million in 2012 to $7.86 million in 2013. Shares of Evans Bancorp Inc. (NYSEMKT:EVBN) grew from $9.72 per share in December 2011 to as high as $25.50 per share on December 31, 2014.