By Emon ReiserEvans Bancorp agreed to sell the insurance operations of The Evans Agency to Arthur J. Gallagher for $40 million. The financial services company expects the deal with Arthur J. Gallagher, an insurance brokerage and risk-management firm, to be completed in the fourth quarter. Evans Bancorp anticipates the net gain on the sale after taxes to be $15.1 million.

Source: Wall Street Journal November 08, 2023 10:21 UTC