Salisbury Bancorp, Inc. Announces 2 For 1 Forward Stock Split

Rhea-AI Summary

Salisbury Bancorp, Inc. (NASDAQ: SAL) has successfully completed a two-for-one forward stock split, effective June 30, 2022. Shareholders of record as of June 1, 2022, will receive a stock dividend, doubling their existing shares without affecting their voting rights or the bank's operations. This strategic move is intended to enhance liquidity by increasing the number of shares available in the market. Salisbury Bank and Trust has served communities since 1848, offering a range of banking and wealth advisory services across Connecticut and nearby New York and Massachusetts.

Positive

• Successful completion of a two-for-one forward stock split.
• Increased liquidity in the market could attract more investors.

Negative

• None.

LAKEVILLE, Conn., July 01, 2022 (GLOBE NEWSWIRE) -- Salisbury Bancorp, Inc. (“Salisbury”), (NASDAQ Capital Market: “SAL”), the holding company for Salisbury Bank and Trust Company (the “Bank”), announced the completion of its previously announced two-for-one forward stock split in the form of a stock dividend payable on June 30, 2022 to shareholders of record as of June 1, 2022. The two-for-one forward split of the shares of Salisbury’s Common Stock results in every one (1) share of Salisbury common stock being converted into two (2) shares of Salisbury’s Common Stock. The stock split will not have any impact on the voting and other rights of shareholders and will have no impact on Salisbury’s business operations. Shareholders do not need to take any action as a result of the stock split.

About Salisbury Bancorp, Inc.

Salisbury Bancorp, Inc. is the parent company of Salisbury Bank and Trust Company, a Connecticut chartered commercial bank serving the communities of northwestern Connecticut and proximate communities in New York and Massachusetts, since 1848, through a network of 14 full-service branches in Litchfield County, Connecticut; Berkshire County, Massachusetts; and Dutchess, Orange, and Ulster Counties, New York.  The Bank offers a broad spectrum of consumer and business banking products and services as well as trust and wealth advisory services. For more information, please visit www.salisburybank.com.

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.

Source: Salisbury Bancorp, Inc.

Salisbury Contact: Richard J. Cantele, Jr., President and Chief Executive Officer
860-435-9801 or rcantele@salisburybank.com 

FAQ

What is the stock split date for Salisbury Bancorp?

The stock split took effect on June 30, 2022.

What is the impact of the stock split on Salisbury Bancorp's shareholders?

Shareholders will see their shares double, but their voting rights and the company's operations remain unaffected.

What does the stock symbol 'SAL' represent?

SAL is the stock symbol for Salisbury Bancorp, Inc.

Why did Salisbury Bancorp conduct a two-for-one stock split?

The stock split aims to enhance liquidity by increasing the number of shares available in the market.

Is there any action required by shareholders due to the stock split of SAL?

No action is needed from shareholders; the stock split is automatic.