NORWICH, N.Y. — The shareholders of a Connecticut banking company have voted to approve a proposed merger with NBT Bancorp Inc. (NASDAQ: NBTB), the parent company of NBT Bank.
Salisbury Bancorp, Inc. reported more than 72 percent of the issued and outstanding shares of Salisbury were represented at a special shareholder meeting on April 12. More than 92 percent of the votes cast favored approving the merger.
“We are excited that Salisbury’s shareholders demonstrated strong support for the merger at yesterday’s shareholder meeting,” John Watt, Jr., president and CEO of NBT Bancorp, said in a news release. “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.”
NBT Bancorp and Salisbury Bancorp on Dec. 5 of last year announced they had entered into an agreement where Salisbury would merge with NBT in an all-stock transaction. The merger is expected to close in the second quarter of this year, subject to customary closing conditions, including receipt of required regulatory approvals, NBT Bancorp said.
Salisbury is a community bank franchise headquartered in Lakeville, Connecticut. Its primary subsidiary, Salisbury Bank and Trust Company, is a Connecticut-chartered commercial bank with 14 banking offices in northwestern Connecticut, the Hudson Valley region of New York, and southwestern Massachusetts, NBT said.
About NBT Bancorp
Norwich–based NBT Bancorp is a financial holding company with total assets of $11.74 billion as of Dec. 31, 2022. The company primarily operates through NBT Bank and through two financial services subsidiaries.
NBT Bank has 140 branches in New York, Pennsylvania, Vermont, Massachusetts, New Hampshire, Maine, and Connecticut. EPIC Retirement Plan Services is a national benefits-administration firm. NBT Insurance Agency, LLC, is a regional insurance agency