8-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

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FORM 8-K

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CURRENT REPORT

Pursuant to Section 13 or 15(d) of the

Securities Exchange Act of 1934

Date of Report (Date of earliest event reported) May 22, 2019

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Salisbury Bancorp, Inc.

(Exact name of registrant as specified in its charter)

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Connecticut (State of other jurisdiction of incorporation) 000-24751 (Commission File Number) 06-1514263 (IRS Employer Identification No.)

5 Bissell Street, Lakeville, Connecticut (Address of principal executive offices)		06039 (Zip Code)
	Registrant’s telephone number, including area code: (860) 435-9801
	(Former name or former address, if changed since last report)

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Title of Each Class	Trading Symbol(s)	Name of Each Exchange on Which Registered
Common Stock, $0.10 par value per share	SAL	NASDAQ

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

□Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

□Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

□Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

□Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter). Emerging growth company □

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. □

Section 8. Other Events.

Item 8.01. Other Events

On May 20, 2019, Salisbury Bancorp, Inc. (the “Company”) announced that Michael A. Varet, director and former Chairman of the Board of Directors of the Company and its subsidiary bank, Salisbury Bank and Trust Company (the “Bank”), passed away. Mr. Varet, age 77, had served on the Board of Directors of the Company since 1998 and the Bank since 1997.

The public announcement regarding Mr. Varet’s passing was made by means of a press release, which is set forth in Exhibit 99.1 to this Form 8-K, and which is incorporated herein by reference.

Section 9. Financial Statements and Exhibits.

Item 9.01 Financial Statements and Exhibits

Exhibit No.
99.1	Salisbury Bancorp, Inc.’s Press Release dated May 22, 2019.

SIGNATURE

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 hereunto duly authorized.

		Salisbury Bancorp, Inc.
Date: May 22, 2019	By:	/s/ Richard J. Cantele, Jr.                                 Richard J. Cantele, Jr. President and Chief Executive Officer

EX-99.1

Exhibit 99.1

May 22, 2019

Company Press Release

Source: Salisbury Bancorp, Inc.

Salisbury Contact: Richard J. Cantele, Jr., President and Chief Executive Officer

860-435-9801 or rcantele@salisburybank.com

FOR IMMEDIATE RELEASE

SALISBURY BANCORP, INC. ANNOUNCES THE PASSING OF DIRECTOR AND FORMER CHAIRMAN, MICHAEL A. VARET.

Lakeville, Connecticut, May 22, 2019 /GlobeNewswire…..Salisbury Bancorp, Inc. (“Salisbury”), (NASDAQ: “SAL”), announced that Michael A. Varet, a director of Salisbury since the Bank Holding Company was formed in 1998, and a director of its subsidiary bank, Salisbury Bank and Trust Company (“Salisbury Bank”) since 1997, passed away on May 20, 2019 at the age of 77.

Richard J. Cantele, Jr., President and Chief Executive Officer of Salisbury and Salisbury Bank informed the employees, directors and other stakeholders of Mr. Varet’s death and expressed gratitude for Michael Varet’s years of service on the Board, stating that “Michael Varet brought valuable insights and sound governance to his leadership of the Board. He served as the Presiding Director since 2007 and as Board Chair from 2010 until earlier this month when he stepped down from the role of Chairman, while he continued to serve as a director of both Salisbury and Salisbury Bank.”

At its Annual Meeting of Shareholders on May 15, 2019, David B. Farrell was elected to succeed Michael Varet as Chairman of the Boards of both Salisbury and Salisbury Bank.

Chairman Farrell stated that “Michael Varet’s extensive legal background and leadership experience along with his analytical skills and knowledge of financial services and corporate governance perfectly suited Michael Varet to guide Salisbury’s Board through more than twenty (20) years of growth and profitability, while maintaining Salisbury Bank’s commitment to the corporate communities it serves.”

President Cantele further commented, “Along with his knowledge, Michael brought an inclusive leadership style with respect for the views of others while chairing the Boards of Salisbury and Salisbury Bank. During his tenure as a director, the holding company for Salisbury Bank, was formed, Salisbury’s stock was listed for trading, the size of the organization nearly tripled, and Salisbury successfully completed six (6) acquisitions. Michael’s contributions will continue to serve as the foundation for Salisbury’s continued successes.”