---
schema_version: "secwatch.filing_event.v1"
accession: "0001140361-23-039657"
form_type: "8-K"
ticker: "NBTB"
cik: "0000790359"
company_name: "NBT BANCORP INC"
filed_at: "2023-08-14T23:59:59+00:00"
generated_at: "2026-06-11T13:26:52.869030+00:00"
event_type: "m_and_a"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# NBT Bancorp completes Salisbury acquisition; appoints Cantele to board, raises dividend 6.7%

## Summary
- Merger completed Aug 11, 2023; each Salisbury share exchanged for 0.7450 NBT shares.
- Added 13 banking offices in CT, NY, MA; NBT Bank now has 153 offices across 7 states.
- Appointed Richard J. Cantele, Jr. to NBT board and as EVP Strategic Integration.
- Quarterly dividend raised to $0.32/share (6.7% increase), payable Sept 15 to holders of record Sept 1.

## SEC filing metadata
- accession: 0001140361-23-039657
- form_type: 8-K
- ticker: NBTB
- cik: 0000790359
- company_name: NBT BANCORP INC
- filed_at: 2023-08-14T23:59:59+00:00
- event_type: m_and_a
- sentiment: positive
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 1.01, 2.01, 5.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/790359/000114036123039657/0001140361-23-039657-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/790359/000114036123039657/brhc20057326_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001140361-23-039657
- JSON: https://secwatch.observer/filing/0001140361-23-039657.json
- Plain text: https://secwatch.observer/filing/0001140361-23-039657.txt

## Key facts
- Executive change
  Richard J. Cantele, Jr. was appointed as Executive Vice President of Strategic Integration at NBT BANCORP INC.
  - Action: appointed
  - Role: Executive Vice President of Strategic Integration
  source text: in addition, effective August 14, 2023, Mr. Cantele was appointed to the Board of Directors of NBT Bank and was named Executive Vice President of Strategic Integration of NBT Bank.
  evidence_url: https://www.sec.gov/Archives/edgar/data/790359/000114036123039657/0001140361-23-039657-index.htm
- Executive change
  Richard J. Cantele, Jr. was appointed as Director at NBT BANCORP INC.
  - Action: appointed
  - Role: Director
  source text: appointed Richard J. Cantele, Jr., President and Chief Executive Officer of Salisbury, to the Board, effective August 14, 2023.
  evidence_url: https://www.sec.gov/Archives/edgar/data/790359/000114036123039657/0001140361-23-039657-index.htm
- M&A Transactions
  NBT BANCORP INC completed an acquisition involving Salisbury Bancorp, Inc. for 0.7450 shares of NBT common stock (closed 2023-08-11).
  - Action: acquisition
  - Counterparty: Salisbury Bancorp, Inc.
  - Consideration: 0.7450 shares of NBT common stock
  - Closing: 2023-08-11
  source text: Subject to the terms and conditions of the Merger Agreement, at the effective time of the Merger , each share of Salisbury common stock was converted into the right to receive 0.7450 shares of NBT common stock, with cash payable in lieu of any fractional shares. A copy of NBT’s press release dated August 14, 2023, announcing the completion of the Merger and
  evidence_url: https://www.sec.gov/Archives/edgar/data/790359/000114036123039657/0001140361-23-039657-index.htm
- Material Agreements
  NBT BANCORP INC amended First Amendment to Agreement and Plan of Merger with Salisbury Bancorp, Inc. and Salisbury Bank and Trust Company valued at Amendment to correct typographical errors, clarify charter/bylaws references, and clarify appointmen (effective 2023-08-09).
  - Action: amendment
  - Agreement: merger
  - Counterparty: Salisbury Bancorp, Inc. and Salisbury Bank and Trust Company
  - Value: Amendment to correct typographical errors, clarify charter/bylaws references, and clarify appointmen
  - Effective: 2023-08-09
  source text: On August 9, 2023, NBT, NBT Bank, Salisbury and Salisbury Bank entered into a First Amendment to Agreement and Plan of Merger (the "Merger Agreement Amendment") in accordance with Section 8.02 of the Merger Agreement to, among other matters, (i) correct certain typographical errors in the Merger Agreement, (ii) clarify that references to "charter and bylaws" of NBT and NBT Bank in the Merger Agreement refer to the Restated Certificate of Incorporation, as amended, and Amended and Restated Bylaws of NBT and the Amended and Restated Articles of Association and Second Amended and Restated Bylaws of NBT Bank, respectively, and (iii) clarify that the New Bank Board Member (as defined in the Merger Agreement) shall be appointed to the board of directors of NBT Bank by the board of directors of NBT Bank in accordance with the Amended and Restated Articles of Association and Second Amended and Restated Bylaws of NBT Bank.
  evidence_url: https://www.sec.gov/Archives/edgar/data/790359/000114036123039657/0001140361-23-039657-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.