SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20429
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of
the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): August 25, 1999
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SALISBURY BANCORP, INC.
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(Exact name of registrant as specified in charter)
Connecticut 06-1514263
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(State or other jurisdiction of incorporation) (IRS Employer Identification No.)
5 Bissell Street, Lakeville, Connecticut 06039-1868
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(Address of principal executive offices) (zip code)
Registrant's telephone number, including area code: (860) 435-9801
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Form 8-K, Current Report
Salisbury Bancorp, Inc.
Item 5. Other Matters.
The Board of Directors of Salisbury Bancorp, Inc., the parent
company of Salisbury Bank and Trust Company, declared a $0.12
per common share quarterly cash dividend at their August 25,
1999 meeting. The dividend will be paid on October 29, 1999 to
shareholders of record as of September 30, 1999.
Item 7. Financial Statements, Pro Forma Financial Information and
Exhibits.
c. Exhibits.
99. Press release dated August 27, 1999
Exhibit Index
99. Press release dated August 27, 1999
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 hereto duly authorized.
Dated: August 31, 1999 SALISBURY BANCORP, INC.
By: /s/ John F. Perotti
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John F. Perotti, President and
Chief Executive Officer
Friday, August 27, 1999
Company Press Release
SOURCE: Salisbury Bancorp, Inc.
Salisbury Bancorp, Inc. Business News
o Third Quarter Dividend
Lakeville, Connecticut, August 27, 1999/ PRNewswire/-The Board of Directors of
Salisbury Bancorp, Inc. (AMEX:SAL), the parent company of Salisbury Bank and
Trust Company, declared a $0.12 per common share quarterly cash dividend at
their August 25, 1999 meeting. Dividends year to date for 1999 total $0.36 per
common share. This represents an increase of $.03 or 9.1% over the $0.33 per
share dividends paid during the same period of 1998. The quarterly cash dividend
will be paid on October 29, 1999 to shareholders of record as of September 30,
1999.
The President of Salisbury Bancorp, Inc., John F. Perotti, stated that "The
Corporation's earnings and capital strength enable us to increase dividends
while continuing to implement our stock repurchase program to better leverage
Salisbury Bancorp's capital resources. Since the announcement of the
Corporation's stock repurchase plan in November of 1998, the Company has
repurchased over 51,000 shares, representing approximately three percent (3%) of
the outstanding common stock. While the fluctuations in the market have effected
the prices of many bank stocks, these fluctuations have provided some attractive
opportunities for the Corporation to repurchase its stock. Consistent with the
goals of the stock repurchase plan, we expect to continue to utilize some of our
capital in repurchases of the Company's common stock when appropriate
opportunities arise".
Salisbury Bancorp's sole subsidiary, Salisbury Bank and Trust Company, is a
community bank with assets in excess of $220 million and capital in excess of
$19 million, which has served the communities of Northwestern Connecticut and
proximate communities in New York and Massachusetts for approximately 150 years.
Salisbury Bank and Trust Company operates full service banking offices in
Lakeville, Salisbury and Sharon, Connecticut. The Bank offers a full compliment
of consumer and business banking products and services as well as trust and
investment services.
