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): February 25, 2000
------------------------------
SALISBURY BANCORP, INC.
-----------------------
(Exact name of registrant as specified in charter)
Connecticut 06-1514263
- --------------------------------------------------------------------------------
(State or other jurisdiction of incorporation) (IRS Employer Identification No.)
5 Bissell Street, Lakeville, Connecticut 06039-1868
- --------------------------------------------------------------------------------
(Address of principal executive offices) (zip code)
Registrant's telephone number, including area code: (860) 435-9801
--------------
<PAGE>
Form 8-K, Current Report
Salisbury Bancorp, Inc.
Item 5. Other Matters.
Salisbury Bancorp, Inc., the parent company of Salisbury Bank
and Trust Company, announced earnings for the fourth quarter
of 1999 and for year ended December 31, 1999.
The Board of Directors of Salisbury Bancorp, Inc. also
declared a $.13 per share first quarter cash dividend at their
February 25, 2000 Board meeting.
The quarterly cash dividend will be paid on April 28, 2000 to
shareholders of record as of March 31, 2000.
Item 7. Financial Statements, Pro Forma Financial Information and
Exhibits.
c. Exhibits.
99. Press release dated February 28, 2000
Exhibit Index Page
99. Press release dated February 28, 2000 3
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: March 1, 2000 SALISBURY BANCORP, INC.
By: /s/ John F. Perotti
-----------------------
John F. Perotti, President
and Chief Executive Officer
-2-
Monday, February 28, 2000
Company Press Release
Source: Salisbury Bancorp, Inc.
Salisbury Bancorp, Inc. Announces Year End Earnings
Lakeville, Connecticut, February 25, 2000/PRNewswire...Salisbury Bancorp, Inc.
(AMEX:SAL) (the "Company") the holding company for Salisbury Bank and Trust
Company (the "Bank") reported fourth quarter earnings of $755,000 or $.50 per
diluted share and net earnings of $2,693,000 or $1.78 per diluted share for the
year ended December 31, 1999. This compares to fourth quarter earnings of
$540,000 or $.34 per diluted share and net earnings of $2,318,000 or $1.47 per
diluted share for the year ended December 31, 1998. The improvement in earnings
can be attributed to an increase in net interest income-the result of growth in
earning assets, the movement of interest rates and management's continuing
efforts to control operating expenses.
Salisbury Bancorp, Inc. became the holding company for Salisbury Bank and Trust
Company on August 24, 1998. The Bank is a community bank operating full service
banking offices in Lakeville, Salisbury and Sharon, Connecticut. It has served
the communities of Northwestern Connecticut and proximate communities in New
York and Massachusetts for approximately 150 years.
The Directors of Salisbury Bancorp, Inc. also announced that a $.13 per share
quarterly cash dividend for the first quarter of 2000 was declared at their
February 25, 2000 meeting.
The quarterly cash dividend will be paid on April 28, 2000 to shareholders or
record as of March 31, 2000. This compares to a $.12 per share dividend that was
paid for the first quarter of 1999.
-3-
