NBT Bancorp to acquire Salisbury Bancorp in stock deal valued at ~$204M

NBT BANCORP INC

Each Salisbury share to be exchanged for 0.7450 NBT shares, implying $35.00 per share.
Expected to close Q2 2023; subject to Salisbury shareholder and regulatory approvals.
Deal ~9.8% accretive to NBT's first full-year GAAP EPS, 4.9% accretive to cash EPS.
Salisbury had $1.51B assets, $1.33B deposits, $1.18B loans as of Sep 30, 2022.
President/CEO of Salisbury, Richard Cantele, to join NBT executive management; one Salisbury director added to NBT board.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

NBT BANCORP INC entered into Agreement and Plan of Merger with Salisbury Bancorp, Inc. and Salisbury Bank and Trust Company (effective 2022-12-05).

Action: entry
Agreement: merger
Counterparty: Salisbury Bancorp, Inc. and Salisbury Bank and Trust Company
Effective: 2022-12-05

Exact text from the filing

On December 5, 2022, NBT Bancorp Inc. (the “Company”) entered into an Agreement and Plan of Merger (the “Merger Agreement”) with Salisbury Bancorp, Inc. (“Salisbury”), Salisbury Bank and Trust Company (“Salisbury Bank”), Salisbury’s subsidiary bank, and NBT Bank, N.A. (“NBT Bank”), the Company’s subsidiary bank, pursuant to which the Company will acquire Salisbury.

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NBT BANCORP INC filing history →

Source: SEC EDGAR

accession 0001140361-22-044364

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