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The merger between Connecticut-based Salisbury Bank and New York-based NBT Bank has moved a step closer to completion after Salisbury’s shareholders voted in favor of the deal. Both banks have branches in Berkshire County.

More than 72 percent of the issued and outstanding shares for Salisbury Bank’s parent company, Salisbury Bancorp Inc., were represented at a special shareholder meeting on April 12 to vote on the merger, NBT said in a statement. More than 92 percent of the votes cast went in favor of the merger.

“We are excited that Salisbury’s shareholders demonstrated strong support for the merger at [Wednesday’s] shareholder meeting,” NBT’s President and CEO John H. Watt Jr. said in the statement. “NBT looks forward to welcoming Salisbury’s customers and their employees to our team. Together, we are working to integrate two high-quality community banks with long histories of service to our customers and communities. We have confidence that the transition to NBT will be a seamless experience. Our Salisbury customers will enjoy the larger NBT branch network and broader variety of financial services offered by NBT and our subsidiaries.”

The banks in December had announced that NBT would acquire Salisbury in an all-stock transaction valued at approximately $204 million. The merger is expected to close this quarter but still awaits regulatory approvals.

Shareholders Approve Merger of Banks With Berkshire County Branches

by Banker & Tradesman time to read: 1 min
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