Salisbury Bank to buy Webster Bank branch in Canaan Aug 26, 2009
Salisbury Bancorp Inc. has agreed to purchase Webster Bank's Canaan branch for an undisclosed amount, the two companies said Tuesday ... "What is most appealing about the purchase is the core deposits," Rick Cantele, president and chief executive officer of Salisbury Bancorp, said of the deal to buy the branch ... Salisbury Bancorp, based in the Lakeville section of Salisbury, has assets of more than $500 million and capital of more than $46 million. (Republican-American)
Impairments, provision help swing bank to loss Aug 7, 2009
Salisbury Bancorp Inc., the parent of Salisbury Bank and Trust Co., said it swung to a second quarter loss due primarily to accounting adjustments reflecting impairments to securities in its investment portfolio, an increased provision against loan losses and higher Federal Deposit Insurance Corp. costs. The bank reported a loss of $183,360, or 19 cents per average outstanding share, compared with net income of $983,552, or 58 cents per average share, for the second quarter of 2008. (Republican-American)
Salisbury Bank's new CEO completes climb to top Jul 13, 2009
Cantele became president and chief executive officer of both Salisbury Bank and Trust Co. and its parent, Salisbury Bancorp Inc., in early June, completing a journey that began in 1981 when the bank hired him as a teller. Completing that long uphill professional climb was the sweet part. (Republican-American)
Salisbury Bancorp 1Q profits flat May 2, 2009
Salisbury Bancorp Inc., the parent of Salisbury Bank and Trust Co. said Friday its first-quarter profits were relatively flat, thanks to higher FDIC insurance premiums and an increased provision against loan losses. The bank reported net income of $1,081,175, or 64 cents per average share, compared with $1,080,934, or 64 cents per average share, for the first quarter of 2008. (Republican-American)
Salisbury Bancorp posts lower earnings Mar 25, 2009
Salisbury Bancorp Inc., the parent of Salisbury Bank and Trust Co., announced lower earnings for both the fourth quarter and fiscal year due primarily to write-downs the company took on its holdings of FHLMC, or Freddie Mac, preferred stock. The bank reported earnings of $953,640, or 57 cents per average share, for the fourth quarter, compared with earnings of $1 million, or 59 cents per average share, for the fourth quarter of 2007. (Republican-American)
Salisbury Bank takes $8.8m in TARP funding Mar 14, 2009
Salisbury Bancorp Inc., parent of Salisbury Bank and Trust Co., said it sold $8 ... John F. Perotti, chairman and chief executive officer of Salisbury Bancorp, said the bank accepted the money because of the poor economy, not because of any financial need. (Republican-American)
Salisbury Bancorp, Inc. Announces Receipt of $8,816,000 From Treasury's Capital Purchase Program Mar 14, 2009
March 13 /PRNewswire-FirstCall/ -- Salisbury Bancorp, Inc. (the "Company"), (Amex: ), the holding company for Salisbury Bank and Trust Company (the "Bank"), announced today that it has sold to the U.S. Treasury Department $8,816,000 of Preferred Stock under the Capital Purchase Program (the "CPP") of the Emergency Economic Stabilization Act of 2008 ... Salisbury Bancorp's sole subsidiary, Salisbury Bank and Trust Company, is a community bank ... SOURCE Salisbury Bancorp, Inc.. (PR Newswire)
