-----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, WRLwT+QuTuHL7EPaaIMaY39jr2aLAmLAv1blgBnDDFSOchgIFg5Z9zSeHCNk7tpD EgibNCXRZ6/gR6AeF3xC+g== 0000914317-09-001774.txt : 20090825 0000914317-09-001774.hdr.sgml : 20090825 20090825085815 ACCESSION NUMBER: 0000914317-09-001774 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20090824 ITEM INFORMATION: Other Events ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20090825 DATE AS OF CHANGE: 20090825 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: 091032780 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-102656_sal.txt 8-K 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): August 24, 2009 ------------------------------ SALISBURY BANCORP, INC. -------------------------------------------------- (Exact name of registrant as specified in charter) Connecticut 000-24751 06-1514263 - -------------------------------------------------------------------------------- (State or other jurisdiction (Commission File Number) (IRS Employer of 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 (17 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 8. Other Events ------------ Item 8.01 Other Events. ------------ On August 24, 2009, Salisbury Bancorp, Inc.'s sole subsidiary, Salisbury Bank and Trust Company ("Salisbury Bank") entered into a Purchase and Assumption Agreement with Webster Bank, National Association ("Webster Bank"), pursuant to which Salisbury Bank will purchase the Canaan, Connecticut Branch of Webster Bank. Further information is set forth in the attached press release. Section 9. Financial Statements and Exhibits --------------------------------- Item 9.01 Financial Statements and Exhibits. --------------------------------- (a) Not Applicable. (b) Not Applicable. (c) Not Applicable. (d) Exhibits. Exhibit 99.1 Press release dated August 25, 2009. 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: August 25, 2009 SALISBURY BANCORP, INC. By: s/ Richard J. Cantele, Jr. ---------------------------------- Richard J. Cantele, Jr. President and Chief Executive Officer EX-99.1 2 ex99-1.txt EX-99.1 [LOGO] NEWS RELEASE Contact: Rick Cantele, President and CEO Salisbury Bank and Trust Company 5 Bissell Street, Lakeville, CT 06039 (860) 435-9801 rick@salisburybank.com For Immediate Release SALISBURY BANK AND TRUST COMPANY TO ACQUIRE CANAAN BRANCH OFFICE OF WEBSTER BANK Lakeville, CT (August 25, 2009) - Salisbury Bancorp, Inc., (NYSE AMEX: "SAL") announced today that its subsidiary, Salisbury Bank and Trust Company, has entered into a purchase and assumption agreement (the "Agreement") to purchase the Canaan, Connecticut branch of Webster Bank. The Agreement provides that, subject to the receipt of regulatory approvals and the satisfaction of normal closing conditions, Salisbury Bank will assume certain deposits, fixed assets, and certain loans. Salisbury Bank also agreed to retain all branch-based employees of the Webster Canaan Branch as part of the transaction. In the aggregate, the transaction includes approximately $17 million in deposits and approximately $4 million in loans. Under the terms of the Agreement, the acquisition is expected to be completed in the fourth quarter of 2009, pending regulatory approval. "We are pleased to have this opportunity to enhance our presence in the Canaan community with the acquisition of this office," said Rick Cantele, President and Chief Executive Officer. "We believe the purchase of this branch will add to our already strong presence in the tri-state area, and particularly in the town of Canaan." Cantele continued, "We welcome the customers and employees of Webster Bank's Canaan branch to the Salisbury Bank family and look forward to continuing to provide outstanding customer service to these customers. We anticipate that the Webster customers will have a smooth transition into our suite of products and services, and we are confident that no disruption of service will occur." The purchase is part of Salisbury Bank's strategic initiative to enhance its market share in the tri-state area. The Bank plans to consolidate the operations of its current Canaan branch with the newly acquired Webster branch. Salisbury Bancorp, Inc.'s sole subsidiary, Salisbury Bank and Trust Company, is a Connecticut chartered commercial bank. The Company has assets in excess of $500 million and capital in excess of $46 million and serves the communities of northwestern Connecticut and proximate communities in New York and Massachusetts, which it has done for approximately 160 years. Salisbury Bank and Trust Company is headquartered in Lakeville, Connecticut and operates full service branches in Canaan, Salisbury and Sharon as well as Lakeville, Connecticut, South Egremont and Sheffield, Massachusetts and Dover Plains, New York. The Bank offers a full complement of consumer and business banking products and services as well as trust and wealth advisory services. 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 on 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-----