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): May 22, 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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<PAGE>
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Form 8-K, Current Report
Salisbury Bancorp, Inc.
Item 5. Other Events.
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Annual Meeting of Shareholders of Salisbury Bancorp, Inc.
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The Annual Meeting of Shareholders of Salisbury Bancorp, Inc. (the
"Company"), the holding company for Salisbury Bank and Trust Company (the"Bank")
was held on Saturday, May 22, 1999. Shareholders voted on the election of
directors and the ratification of the appointment of independent auditors.
The results of the votes of shareholders regarding each proposal are
set forth below:
PROPOSAL 1
ELECTION OF DIRECTORS
Each of the two nominees received in excess of a plurality of the votes
cast at the meeting and were elected to serve a three (3) year term until their
successors are elected and qualified.
The vote for electing nominees as directors was as follows:
<TABLE>
<CAPTION>
Withholding
For Authority
<S> <C> <C>
John R. H. Blum Number of Shares: 1,255,165 14,076
Percentage of
Shares Voted: 98.9% 1.1%
Percentage of Shares
Entitled to Vote: 83.1% 1.0%
Withholding
For Authority
Louise F. Brown Number of Shares: 1,254,397 14,844
Percentage of
Shares Voted: 98.8% 1.2%
Percentage of Shares
Entitled to Vote: 83.1% 1.0%
</TABLE>
<PAGE>
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PROPOSAL 2
RATIFICATION OF THE APPOINTMENT OF INDEPENDENT AUDITORS
The appointment of Shatswell, MacLeod & Company, P.C. as independent
auditors for the Bank for the year ending December 31, 1999 was approved because
the votes for such appointment exceeded the votes against such appointment.
The vote to ratify the appointment by the Board of Directors
of Shatswell, MacLeod & Company, P.C. as independent auditors
for the year ending December 31, 1999 was as follows:
<TABLE>
<CAPTION>
For Against Abstain
<S> <C> <C> <C>
Number of Votes: 1,253,875 0 15,366
Percentage of Shares Voted: 98.8% 1.2%
Percentage of Shares
Entitled to Vote: 83.0% 0 1.0%
</TABLE>
Election of Chairman of the Board of Directors
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Following the Meeting of Shareholders, at the organizational meetings
of the Board of Directors of the Company and the Bank, the Board of Directors of
the Company elected John R. H. Blum, Chairman of the Board of Directors of
Salisbury Bancorp, Inc. The Board of Directors of the Bank also elected Mr.
Blum, Chairman of the Board of Directors of Salisbury Bank and Trust Company.
The Chairman serves at the pleasure of each Board during a term expiring at the
organizational meeting of the Board following the Annual Meetings of
Shareholders.
Second Quarter Dividend Declared
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The Board of Directors of Salisbury Bancorp, Inc. declared a $.12 per
share quarterly cash dividend at their May 22, 1999 meeting. The quarterly cash
dividend will be paid on July 30, 1999 to shareholders of record as of June 30,
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: May 25, 1999 SALISBURY BANCORP, INC.
By: /s/ John F. Perotti
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John F. Perotti, President and
Chief Executive Officer
