LAKEVILLE, Conn., Nov. 2, 2011 /PRNewswire/ -- Salisbury
Bancorp, Inc. ("Salisbury"), NYSE
Amex Equities: "SAL," the holding company for Salisbury Bank and
Trust Company, today announced that it had repurchased from the
United States Department of the Treasury (the "Treasury") a warrant
to purchase 57,671 shares of the Company's Common Stock at a
purchase price of $22.93 per share
(the "Warrant").
The Company issued the Warrant to the Treasury on March 13, 2009 as part of the Company's
participation in the Capital Purchase Program (the "CPP") of the
Emergency Economic Stabilization Act of 2008. The shares of
Fixed Rate Cumulative Perpetual Preferred Stock, Series A, issued
to the Treasury under the CPP were repurchased from the Treasury on
August 25, 2011.
The Warrant was repurchased for $205,000. Simultaneously with the
repurchase of the Warrant, the Company cancelled the Warrant.
More details regarding the transactions described above may be
found in Salisbury's Current
Report on Form 8-K filed on November 2,
2011 with the United States Securities and Exchange
Commission at www.sec.gov or www.salisburybank.com
under Shareholder Relations.
Salisbury Bancorp, Inc. is the parent company of Salisbury Bank
and Trust Company (the "Bank"), a Connecticut chartered commercial bank serving
the communities of northwestern Connecticut and proximate communities in
New York and Massachusetts, since 1848, through full
service branches in Canaan,
Lakeville, Salisbury and Sharon, Connecticut, South Egremont and Sheffield, Massachusetts and Dover Plains and Millerton, New York. The Bank offers a
full complement of consumer and business banking products and
services as well as trust and wealth advisory services.
Statements contained in this news release contain
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 made using information currently available to
management. Because 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 government regulations; changes in
accounting principles; and the quality or composition of the loan
and investment portfolios and other factors that may be described
in Salisbury's quarterly reports
on Form 10-Q and its annual report on Form 10-K, each filed with
the Securities and Exchange Commission, which are available at the
Securities and Exchange Commission's internet website
(www.sec.gov) and to which reference is hereby
made. Therefore, actual future results may differ
significantly from results discussed in the forward-looking
statements.
SOURCE Salisbury Bancorp, Inc.