-----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, Uyb/Tns5aR5HWFv324JSs9qTvKG7009QqdD6eZuXLA4a5ChG2JuSq6l1dYE0nqUD oaYi1utE1TfN/ymsPxHTUQ== 0000914317-05-001462.txt : 20050427 0000914317-05-001462.hdr.sgml : 20050427 20050427131156 ACCESSION NUMBER: 0000914317-05-001462 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20050426 ITEM INFORMATION: Results of Operations and Financial Condition ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20050427 DATE AS OF CHANGE: 20050427 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: 1934 Act SEC FILE NUMBER: 000-24751 FILM NUMBER: 05775585 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 form8k-68170_salisbury.txt UNITED STATES 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): April 26, 2005 -------------- SALISBURY BANCORP, INC. -------------------------------------- (Exact name of registrant as specified in charter) Connecticut 000-24751 06-1514263 - -------------------------------------------------------------------------------- (State or other jurisdiction of (Commission File Number) (IRS Employer incorporation) Identification No.) 5 Bissell Street, Lakeville, Connecticut 06039-1868 - -------------------------------------------------------------------------------- (Address of principal executive offices) (zip code) Registrant's telephone number, including area code: (860) 435-9801 -------------- - -------------------------------------------------------------------------------- (Former Name or Former Address, if Changed Since Last Report) Check the appropriate box below if the Form 8-K is intended to simultaneously satisfy the filing obligations of the registrant under any of the following provisions (see General Instructions A.2. below): [_] Written communications pursuant to Rule 425 under the Securities Act (12 C.F.R. 230.425) [_] Soliciting material pursuant to Rule 14a-2 under the Exchange Act (17 C.F.R. 240.14a-12) [_] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 C.F.R. 240.14d-2(b)) [_] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 C.F.R. 240.13e-4(c)) Form 8-K, Current Report Salisbury Bancorp, Inc. Section 2. Financial Information Item 2.02. Results of Operations and Financial Condition - --------------------------------------------------------- On April 26, 2005, Salisbury Bancorp, Inc. (the "Company") issued a press release announcing its financial results for the quarter ended March 31, 2005. The press release is attached as Exhibit 99.1 and is incorporated herein by reference. Section 9. Financial Statements and Exhibits Item 9.01. Financial Statements and Exhibits - ---------------------------------------------- (c) Exhibits 99.1 Press Release dated April 26, 2005. SIGNATURES 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: April 27, 2005 SALISBURY BANCORP, INC. By: /s/ John F. Perotti ----------------------------- John F. Perotti, Chairman and Chief Executive Officer EX-99.1 2 ex99-1.txt Exhibit 99.1 Tuesday, April 26, 2005 Company Press Release Source: Salisbury Bancorp, Inc. Salisbury Contact: John F. Perotti - Chairman & CEO 860-435-9801 or jp@salisburybank.com -------------------- FOR IMMEDIATE RELEASE SALISBURY BANCORP, INC. ANNOUNCES FIRST QUARTER EARNINGS Lakeville, Connecticut, April 26, 2005/PRNewswire.....Salisbury Bancorp, Inc. (the "Company"),(AMEX:SAL) the holding company for Salisbury Bank and Trust Company announced today that net income for the first quarter of 2005 was $1,328,566 or $.79 per share. This compares to 2004 first quarter net income of $1,071,777 or $.75 per share. The improvement in earnings is primarily attributable to an increase in earning assets resulting from the merger with the Canaan National Bancorp, Inc. during the fourth quarter of 2004. The Company previously announced a first quarter dividend of $.25 per common share that is payable on April 27, 2005 to shareholders of record as of March 31, 2005. This compares to a $.24 per common share dividend that was paid to shareholders for the first quarter of 2004 and represents an increase of 4.2%. Salisbury Bancorp, Inc.'s sole subsidiary, Salisbury Bank and Trust Company, is a community bank. The Company has assets in excess of $396 million and continues to serve the communities of northwestern Connecticut and proximate communities in New York and Massachusetts which it has done for approximately 150 years. Salisbury Bank and Trust Company is headquartered in Lakeville, Connecticut and operates full service branches in Canaan, Salisbury and Sharon, Connecticut and South Egremont and Sheffield, Massachusetts. The Bank offers a full compliment of consumer and business banking products and services as well as trust services. Quarter Ended March 31 2005 2004 ---- ---- (unaudited) Interest and Dividend Income $5,034,107 $3,754,516 Net Interest and Dividend Income 3,388,504 2,485,564 Noninterest Income 1,389,300 1,092,428 Provision for Loan Losses 90,000 60,000 Income Before Taxes 1,661,491 1,440,977 Income Tax Expense 332,925 369,200 Net Income $1,328,566 $1,071,777 Earnings Per Share $ .79 $ .75 Statements contained in this news release contain forward looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are based on the beliefs and expectations of management as well as the assumptions made using information currently available to management. Since these statements reflect the views of management concerning future events, these statements involve risks, uncertainties and assumptions, including among others: changes in market interest rates and general and regional economic conditions; changes in government regulations; changes in accounting principles; and the quality or composition of the loan and investment portfolios and other factors that may be described in the Company's quarterly reports of Form 10-Q and its annual report on Form 10-K, each filed with the Securities and Exchange Commission, which are available at the Securities and Exchange Commission's internet website (www.sec.gov) and to which reference is hereby made. Therefore, actual future results may differ significantly from results discussed in the forward looking statements. -----END PRIVACY-ENHANCED MESSAGE-----