SALISBURY BANCORP (PARENT ONLY) CONDENSED FINANCIAL INFORMATION (Tables)

12 Months Ended

Dec. 31, 2015

Condensed Financial Information of Parent Company Only Disclosure [Abstract]

Unconsolidated balance sheets of Salisbury Bancorp, Inc.

Balance Sheets   December 31, (in thousands)		2015		2014
Assets
Cash and due from banks	$	2,612	$	9,436
Investment in bank subsidiary		97,794		92,531
Other assets		5		6
Total Assets	$	100,411	$	101,973
Liabilities and Shareholders' Equity
Subordinated debt	$	9,764	$	—
Other liabilities		73		152
Shareholders' equity		90,574		101,821
Total Liabilities and Shareholders' Equity	$	100,411	$	101,973

Unconsolidated statements of income of Salisbury Bancorp, Inc.

Statements of Income   Years ended December 31, (in thousands)		2015		2014		2013
Dividends from subsidiary	$	2,743	$	2,143	$	2,128
Interest income		19		21		27
Interest expense		35		—		—
Expenses		511		986		394
Income before taxes and equity in undistributed net income of subsidiary		2,216		1,178		1,761
Income tax benefit		192		91		—
Income before equity in undistributed net income of subsidiary		2,408		1,269		1,761
Equity in undistributed net income of subsidiary		6,049		1,252		2,322
Net income	$	8,457	$	2,521	$	4,083

Unconsolidated statements of cash flows of Salisbury Bancorp, Inc.

Statements of Cash Flows   Years ended December 31, (in thousands)		2015			2014			2013
Net income	$	8,457		$	2,521		$	4,083
Adjustments to reconcile net income to
net cash provided by operating activities:
Equity in undistributed net income of subsidiary		(6,049	)		(1,252	)		(2,322	)
Other		(275	)		85			24
Net cash provided by operating activities		2,133			1,354			1,785
Investing Activities
Investment in bank		—			(27,251	)		—
Maturities (purchases) of interest-bearing time deposits of other banks		—			738			(738	)
Maturities of securities available-for-sale		—			—			—
Net cash utilized by investing activities		—			(26,513	)		(738	)
Financing Activities
Common stock dividends paid		(3,054	)		(1,918	)		(1,915	)
Preferred stock dividends paid		(158	)		(166	)		(161	)
Proceeds from issuance of subordinated debt, net of issue cost		9,764			—			—
Payment to repurchase preferred stock		(16,000	)		—			—
Proceeds from issuance of common stock		491			126			34
Issuance of Salisbury stock to Riverside shareholders		—			27,251			—
Net cash (utilized) provided by financing activities		(8,957	)		25,293			(2,042	)
(Decrease) increase in cash and cash equivalents		(6,824	)		134			(995	)
Cash and cash equivalents, beginning of period		9,436			9,302			10,297
Cash and cash equivalents, end of period	$	2,612		$	9,436		$	9,302