COMMITMENTS AND CONTINGENT LIABILITIES	12 Months Ended
Dec. 31, 2019
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENT LIABILITIES	NOTE 20 - COMMITMENTS AND CONTINGENT LIABILITIES Commitments The Bank's agreement with the core accounting processing service provider will continue until the eighth anniversary of the commencement date, which was November 10, 2016. If the Bank cancels the agreement prior to the end of the contract term, a lump sum termination fee will have to be paid. The fee shall consist of the total amount that would have been paid or reimbursed to the service provider during the remainder of the term of the agreement. Employment and Change in Control Agreements Salisbury has entered into severance agreements with certain senior executives, including with two (2) named executive officers, Richard J. Cantele, Jr., and John M. Davies which provide payouts ranging from 1.0 to 3.0 times base salary, annual cash bonus and other benefits. Salisbury has also entered into change in control agreements with certain senior executives, including named executive officer Peter Albero, all of which provide a severance payment ranging from 0.5 to 2.0 times base salary, annual cash bonus and other benefits in the event employment is terminated in conjunction with a defined change in control. Contingent Liabilities The Bank is involved in various claims and legal proceedings, which are not material, arising in the ordinary course of business. There are no material pending legal proceedings, other than ordinary routine litigation incidental to the registrant's business, to which Salisbury is a party or to which any of its property is subject. On October 4, 2019, Salisbury entered into a contract with Arris Contracting Company, Inc. to construct an operations center on its Lakeville, CT. campus in 2020. The estimated construction cost is $5.0 million and Salisbury may terminate the contract at its convenience and without cause. In the event of such termination, Salisbury will be required to pay for work executed and costs incurred by reason of such termination.

COMMITMENTS AND CONTINGENT LIABILITIES

12 Months Ended

Dec. 31, 2019

Commitments and Contingencies Disclosure [Abstract]

NOTE 20 - COMMITMENTS AND CONTINGENT LIABILITIES

Commitments

The Bank's agreement with the core accounting processing service provider will continue until the eighth anniversary of the commencement date, which was November 10, 2016. If the Bank cancels the agreement prior to the end of the contract term, a lump sum termination fee will have to be paid. The fee shall consist of the total amount that would have been paid or reimbursed to the service provider during the remainder of the term of the agreement.

Employment and Change in Control Agreements

Salisbury has entered into severance agreements with certain senior executives, including with two (2) named executive officers, Richard J. Cantele, Jr., and John M. Davies which provide payouts ranging from 1.0 to 3.0 times base salary, annual cash bonus and other benefits. Salisbury has also entered into change in control agreements with certain senior executives, including named executive officer Peter Albero, all of which provide a severance payment ranging from 0.5 to 2.0 times base salary, annual cash bonus and other benefits in the event employment is terminated in conjunction with a defined change in control.

Contingent Liabilities

The Bank is involved in various claims and legal proceedings, which are not material, arising in the ordinary course of business. There are no material pending legal proceedings, other than ordinary routine litigation incidental to the registrant's business, to which Salisbury is a party or to which any of its property is subject.

On October 4, 2019, Salisbury entered into a contract with Arris Contracting Company, Inc. to construct an operations center on its Lakeville, CT. campus in 2020. The estimated construction cost is $5.0 million and Salisbury may terminate the contract at its convenience and without cause. In the event of such termination, Salisbury will be required to pay for work executed and costs incurred by reason of such termination.