Salisbury Bancorp, Inc. Announcement – GuruFocus.com
LAKEVILLE, Conn., May 20, 2022 (GLOBE NEWSWIRE) — Salisbury Bancorp, Inc. (“Salisbury”), (NASDAQ Capital Market: “SAL”), the holding company of Salisbury Bank and Trust Company (the “Bank”), announced today that the shareholders of Salisbury, at their annual meeting held on May 18, 2022, approved an amendment to the certificate of incorporation of Salisbury to increase the number of authorized common shares of Salisbury from 5,000,000 to 10,000,000 shares. In addition, the Board of Directors announced that it had approved and declared a two-for-one forward split of Salisbury common stock to improve the liquidity and marketability of Salisbury securities in the best interests of shareholders.
The stock split, which will result in the conversion of each (1) common share of Salisbury into two (2) common shares of Salisbury, will have no impact on the voting and other rights of shareholders and will have no impact on commercial operations of Salisbury.
The two-for-one stock split will take the form of a stock dividend to shareholders of record as of June 1, 2022 with an effective date/stock dividend payment date of June 30, 2022.
About Salisbury Bancorp, Inc.
Salisbury Bancorp, Inc. is the parent company of Salisbury Bank and Trust Company, a Connecticut chartered commercial bank that has served communities in Northwestern Connecticut and neighboring communities in New York and Massachusetts, since 1848, through a network 14 full-service branches in Litchfield County, Connecticut; Berkshire County, Massachusetts; and Dutchess, Orange and Ulster Counties, New York. The Bank offers a wide range of banking products and services to individuals and businesses, as well as trust and wealth management advisory services. For more information, please visit www.salisburybank.com.
This press release may contain statements relating to the future results of Salisbury and the Bank that qualify as “forward-looking” statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are based on the beliefs and expectations of management as well as assumptions and estimates made by management using information currently available to it. Because these statements reflect management’s beliefs regarding future events, these statements involve risks, uncertainties and assumptions, including, but not limited to: changes in market interest rates and general and regional economic conditions ; changes in laws and regulations; changes in accounting principles; and the quality or composition of loan and investment portfolios, changes in technology and cybersecurity matters, and other factors which may be described in Salisbury’s Quarterly Reports on Form 10-Q and its Annual Report on Form 10-K, which are available at the Securities and Exchange Commission’s website (www.sec.gov) and referred to herein. Forward-looking statements made by Salisbury in this press release speak only as of the date on which they are made. Events or other facts that could cause Salisbury’s actual results to vary may occur from time to time and Salisbury cannot predict all such events and factors. Salisbury undertakes no obligation to publicly update any forward-looking statement, except as required by law.
Source: Salisbury Bancorp, Inc.
Contact in Salisbury: Richard J. Cantele, Jr., President and CEO
860-435-9801 or [email protected]