-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, QBBpygWxkkdOlx4pr4o7jGxh1deq4hTXuWKR5M6szrysSsPraybTDcy8tjcXEDP1 3gZ/q5ZSC6Akk8rqBQN4WA== 0000914317-01-000238.txt : 20010330 0000914317-01-000238.hdr.sgml : 20010330 ACCESSION NUMBER: 0000914317-01-000238 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20010328 ITEM INFORMATION: ITEM INFORMATION: FILED AS OF DATE: 20010329 FILER: COMPANY DATA: COMPANY CONFORMED NAME: SALISBURY BANCORP INC CENTRAL INDEX KEY: 0001060219 STANDARD INDUSTRIAL CLASSIFICATION: SAVINGS INSTITUTION, FEDERALLY CHARTERED [6035] IRS NUMBER: 061514263 STATE OF INCORPORATION: CT FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: SEC FILE NUMBER: 000-24751 FILM NUMBER: 1583272 BUSINESS ADDRESS: STREET 1: 5 BISSELL ST CITY: LAKEVILLE STATE: CT ZIP: 06039-1868 BUSINESS PHONE: 8604359801 MAIL ADDRESS: STREET 1: 5 BISSELL ST CITY: LAKEVILLE STATE: CT ZIP: 06039-1868 8-K 1 0001.txt FORM 8-K FOR SALISBURY SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): March 28, 2001 ----------------------- SALISBURY BANCORP, INC. -------------------------------- (Exact name of registrant as specified in charter) Connecticut 06-1514263 (State or other (IRS Employer Identification No.) jurisdiction of incorporation) 5 Bissell Street, Lakeville, Connecticut 06039-1868 (Address of principal executive offices) (zip code) Registrant's telephone number, including area code: (860) 435-9801 -------------- Form 8-K, Current Report Salisbury Bancorp, Inc. Item 5. Other Matters. ------------- Salisbury Bank and Trust Company, a wholly-owned subsidiary of Salisbury Bancorp Inc. and People's Bank entered into a definitive agreement for Salisbury Bank and Trust Company to purchase People's Canann, CT banking office with approximately $27.5 million in deposits. Item 7. Financial Statements, Pro Forma Financial Information and Exhibits. ------------------------------------------------------------------ c. Exhibits. 99. Press Release dated March 28, 2001 Exhibit Index Page ------------- ---- 99. Press Release dated March 28, 2001 3 Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereto duly authorized. Dated: March 29, 2001 SALISBURY BANCORP, INC. By: /s/ John F. Perotti ------------------------------ John F. Perotti, President and Chief Executive Officer EX-99 2 0002.txt PRESS RELEASE EXHIBIT 99 Press Release dated March 28, 2001 Salisbury Contact: John F. Perotti 860-435-9801 or jp@salisbury-bank.com People's Contact: Deborah P. MacDonnell 203-338-3255 or dpmacdo@peoples.com FOR IMMEDIATE RELEASE March 28, 2001 SALISBURY BANK AND TRUST COMPANY TO ACQUIRE CANAAN BRANCH OF PEOPLE'S BANK LAKEVILLE, CONN. - Salisbury Bank and Trust Company, a wholly owned subsidiary of Salisbury Bancorp, Inc. (AMEX: SAL) and People's Bank (NASDAQ: PBCT) today announced the signing of a definitive agreement for Salisbury to purchase People's Canaan, Conn., banking office with approximately $27.5 million in deposits. Pending approval by the appropriate banking regulatory agencies, the transaction is expected to close in mid-year and the financial impact of the transaction will be recognized at that time. "We are very pleased to complement our existing branch network, which includes branches in Lakeville, Salisbury and Sharon, Conn., by acquiring the People's branch in Canaan," said John F. Perotti, president and chief executive officer of Salisbury. "We look forward to providing customers of this branch with the same exceptional level of service they have received from People's Bank." "As the Canaan branch was geographically isolated from our other 145 branches we felt it was in the best interest of our customers to sell this branch to a local company that shares our commitment to serving both customers and communities," said Robert R. D'Amore, executive vice president, Marketing and Regional Banking at People's. "This decision will not impact the expansion of our branch network. We plan to open financial centers in Torrington and Southington this spring, and we continue to pursue opportunities to open new traditional and Super Stop & Shop branches. In connection with the transaction, Salisbury will pay a deposit premium of approximately 12 percent, or $3.2 million, and receive approximately $110,000 in loans, $23.5 million in cash and $130,000 in fixed assets. Included in the sale are retail deposit accounts, commercial deposit accounts, safe deposit boxes, loans collateralized by deposits, personal and business credit lines and the branch premises. -- more -- The Canaan branch being acquired by Salisbury is the original Canaan Savings Bank, the oldest bank in Canaan. People's has operated the branch since 1983 when it joined the People's franchise as part of an acquisition of the former State Bank for Savings. As part of the transaction, both Salisbury and People's have agreed all employees will retain their jobs, whether they choose to stay with People's and move to another branch, or join Salisbury and remain in the Canaan branch. About Salisbury Bank and Trust Company Salisbury Bancorp, Inc., is the holding company for Salisbury Bank and Trust Company, which has served the communities of Northwestern Connecticut and proximate communities in New York and Massachusetts for approximately 150 years. At present, Salisbury Bank and Trust Company operates full service banking offices in Lakeville, Salisbury and Sharon, Conn. About People's Bank People's Bank (peoples.com) is a diversified financial services company providing commercial, consumer, insurance and investment services. Founded in 1842, it is the largest state-chartered bank in Connecticut with managed assets of $14 billion, 146 branches and approximately 220 ATMs. People's is a leader in consumer and commercial banking, residential lending, insurance sales and supermarket banking. An international credit card issuer, it ranks 16th nationally as an issuer of MasterCard and Visa credit cards. People's subsidiaries offer brokerage services, asset management, equipment financing and leasing and insurance services. -----END PRIVACY-ENHANCED MESSAGE-----