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SUBSEQUENT EVENTS
12 Months Ended
Dec. 31, 2019
Subsequent Events [Abstract]  
SUBSEQUENT EVENTS

NOTE 25 – SUBSEQUENT EVENTS

Salisbury has evaluated subsequent events for potential recognition and/or disclosure through the date these consolidated financial statements were issued.

The Board of Directors of Salisbury approved a $0.01 increase in the quarterly dividend to $0.29 per common share at their January 24, 2020 meeting. The dividend was paid on February 28, 2020 to shareholders of record as of February 14, 2020.

On January 24, 2020, Salisbury entered into updated severance agreements with Richard J. Cantele, Jr., President and Chief Executive Officer, and John M. Davies, President of N.Y. Region and Chief Lending Officer. Salisbury also entered into an updated change in control agreement with Peter Albero, Chief Financial Officer. The new agreements supersede and replace their previous agreements with Salisbury. For additional information see Form 8-K filed January 30, 2020.