UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
________________________
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)
April 20, 2022
________________________
SALISBURY BANCORP, INC.
(Exact name of registrant as specified in its charter)
________________________
|
Connecticut (State of other jurisdiction of incorporation) |
001-14854 (Commission File Number) |
06-1514263 (IRS Employer Identification No.) |
|
5 Bissell Street, Lakeville, Connecticut (Address of principal executive offices) |
|
06039 (Zip Code)
| |||
| Registrant’s telephone number, including area code: (860) 435-9801 | |||||
(Former name or former address, if changed since last report) ________________________ |
|||||
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
| ☐ | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
| ☐ | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
| ☐ | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
| ☐ | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Securities registered pursuant to Section 12(b) of the Act:
| Title of Each Class | Trading Symbol(s) | Name of Each Exchange on Which Registered |
| Common Stock, $0.10 par value per share | SAL | NASDAQ |
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging Growth Company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Section 5 - Corporate Governance and Management
| Item 5.02 | Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. |
On April 21, 2022, Salisbury Bancorp, Inc. (the “Company”) announced the appointment of Stephen Scott as Executive Vice President, Chief Operating Officer of the Company’s subsidiary, Salisbury Bank and Trust Company (the “Bank”) effective May 2, 2022. Mr. Scott, age 39, most recently served as Chief Operating Officer at Fieldpoint Private for the past seven years. Prior to that, he served as Senior Manager, Global Loan Operations at GE Capital Real Estate (2012-2015) and Vice President, Loan Servicing at Union Savings Bank (2008-2012).
Section 8 - Other Events
| Item 8.01. | Other Events |
On April 21, 2022, the Company issued a press release related to the appointment of Stephen Scott as Executive Vice President, Chief Operating Officer of Salisbury Bank and Trust Company effective May 2, 2022. A copy of such press release is attached hereto as Exhibit 99.1.
Section 9 - Financial Statements and Exhibits
| Item 9.01. | Financial Statement and Exhibits. |
| (a) | Not Applicable. | ||
| (b) | Not Applicable. | ||
| (c) | Not Applicable. | ||
| (d) | Exhibits. | ||
| Exhibit 99.1 | Press Release dated April 21, 2022. | ||
SIGNATURE
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 hereunto duly authorized.
| Salisbury Bancorp, Inc. | ||
| Date: April 21, 2022 | By: | /s/ Richard J. Cantele, Jr. Richard J. Cantele, Jr. President and Chief Executive Officer |
Exhibit 99.1
Thursday, April 21, 2022
Company Press Release
Source: Salisbury Bancorp, Inc.
Salisbury Contact: Richard J. Cantele, Jr., President and Chief Executive Officer
860-435-9801 or rcantele@salisburybank.com
FOR IMMEDIATE RELEASE
SALISBURY BANCORP, INC. ANNOUNCES APPOINTMENT OF EXECUTIVE OFFICER
Lakeville, Connecticut, April 21, 2022/GlobeNewswire…Salisbury Bancorp, Inc. (“Salisbury”), NASDAQ: “SAL”, the holding company for Salisbury Bank and Trust Company (the “Bank”), announced the appointment of a new Executive Officer of the Bank effective May 2, 2022.
Stephen Scott was named Executive Vice President, Chief Operating Officer. In this role, Mr. Scott will report to the President and CEO and will be responsible for Retail Administration and Operations; Loan Servicing; Deposit Operations; Customer Support; and Electronic Banking Services. Mr. Scott, age 39, most recently served as Chief Operating Officer at Fieldpoint Private for the past seven years. Prior to that, he served as Senior Manager, Global Loan Operations at GE Capital Real Estate (2012-2015) and Vice President, Loan Servicing at Union Savings Bank (2008-2012). Mr. Scott holds a BBA in Business Management from Western Connecticut State University, Ancell School and is a graduate of the ABA Graduate School of Banking Leadership Program at University of Pennsylvania, Wharton School. He resides in Danbury, CT.
“I am extremely pleased to welcome Stephen to our team,” stated Rick Cantele, President and CEO of Salisbury. “Stephen’s knowledge and leadership experience will be a tremendous asset to the Bank as we continue to execute on our strategic plan, prudently manage our growth, and enhance our digital capabilities. I look forward to working with Stephen as we focus on long-term value for our stakeholders and the growth strategy of our company.”
Forward-Looking Statements
This news release may contain statements relating to Salisbury’s and the Bank’s future results that are considered “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 the assumptions and estimates made by management using information currently available to management. Since these statements reflect the views of management concerning future events, these statements involve risks, uncertainties and assumptions, including among others: 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 the loan and investment portfolios, technological changes and cybersecurity matters, and other factors that 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 to which reference is hereby made. Forward-looking statements made by Salisbury in this news release speak only as of the date they are made. Events or other facts that could cause Salisbury’s actual results to differ may arise from time to time and Salisbury cannot predict all such events and factors. Salisbury undertakes no obligation to publicly update any forward-looking statement unless as may be required by law.