-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, D/EkeC7ZepJAniR4iuCv1WHAm6Rtw9SGS/XU14OhW8jGt5xYR04Y4E9o4hMB4K5H OLFREMfZ6ryZ/SSEMwMdAw== 0000914317-05-002438.txt : 20050801 0000914317-05-002438.hdr.sgml : 20050801 20050801143222 ACCESSION NUMBER: 0000914317-05-002438 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20050729 ITEM INFORMATION: Results of Operations and Financial Condition ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20050801 DATE AS OF CHANGE: 20050801 FILER: COMPANY DATA: COMPANY CONFORMED NAME: SALISBURY BANCORP INC CENTRAL INDEX KEY: 0001060219 STANDARD INDUSTRIAL CLASSIFICATION: SAVINGS INSTITUTION, FEDERALLY CHARTERED [6035] IRS NUMBER: 061514263 STATE OF INCORPORATION: CT FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-24751 FILM NUMBER: 05987736 BUSINESS ADDRESS: STREET 1: 5 BISSELL ST CITY: LAKEVILLE STATE: CT ZIP: 06039-1868 BUSINESS PHONE: 8604359801 MAIL ADDRESS: STREET 1: 5 BISSELL ST CITY: LAKEVILLE STATE: CT ZIP: 06039-1868 8-K 1 form8k-70012_salisbury.htm

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of
the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): July 29, 2005

SALISBURY BANCORP, INC.
(Exact name of registrant as specified in charter)

Connecticut
(State or other jurisdiction of incorporation)
0-24751
(Commission File Number)
06-1514263
(IRS Employer Identification No.)


5 Bissell Street, Lakeville, Connecticut
(Address of principal executive offices)
 
 
06039-1868
(zip code)


Registrant's telephone number, including area code: (860) 435-9801



(Former Name or Former Address, if Changed Since Last Report)

Check the appropriate box below if the Form 8-K is intended to simultaneously satisfy the filing obligations of the registrant under any of the following provisions (see General Instructions A.2. below):

¨ Written communications pursuant to Rule 425 under the Securities Act (12 C.F.R. 230.425)

¨ Soliciting material pursuant to Rule 14a-2 under the Exchange Act (17 C.F.R. 240.14a-12)

¨ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 C.F.R. 240.14d-2(b))

¨ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 C.F.R. 240.13e-4(c))


Form 8-K, Current Report
Salisbury Bancorp, Inc.

Section 2.     Financial Information

Item 2.02.     Results of Operations and Financial Condition

        On July 29, 2005, Salisbury Bancorp, Inc. (the "Company") issued a press release announcing its financial results for the quarter ended June 30, 2005. The press release is attached as Exhibit 99.1 and is incorporated herein by reference.

Section 9.     Financial Statements and Exhibits

Item 9.01.     Financial Statements and Exhibits

  (c) Exhibits
99.1  Press Release dated July 29, 2005.

SIGNATURES

        Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereto duly authorized.

Dated:  August 1, 2005 SALISBURY BANCORP, INC.



By:   /s/ John F. Perotti
         John F. Perotti, Chairman and
         Chief Executive Officer


EX-99.1 2 ex99-1.htm

Exhibit 99.1

Friday July 29, 2005

Company Press Release

Source: Salisbury Bancorp, Inc.

Salisbury Contact: John F. Perotti – Chairman & CEO
860-435-9801 or jp@salisburybank.com

FOR IMMEDIATE RELEASE


SALISBURY BANCORP, INC. ANNOUNCES SECOND QUARTER EARNINGS


Lakeville, Connecticut, Friday, July 29, 2005/PRNewswire….Salisbury Bancorp, Inc. (the “Company”), (AMEX:SAL) the holding company for Salisbury Bank and Trust Company announced today that net income for the second quarter of 2005 was $1,308,371 or $.78 per average share outstanding. This compares to 2004 second quarter net income of $1,096,037 or $.77 per average share outstanding. For the six months ended June 30, 2005, net income totaled $2,636,937 or $1.57 per average share outstanding as compared to net income of $2,167,814 or $1.52 per average share outstanding for the same six month period in 2004.


Quarter Ended
June 30
Six Months Ended
June 30
2005 2004 2005 2004
(unaudited) (unaudited)
Total Interest and Dividend                    
  Income   $ 5,069,012   $ 3,815,537   $ 10,103,119   $ 7,570,053  
Net Interest and Dividend  
  Income    3,325,874    2,541,983    6,714,378    5,027,547  
Provision for Loan Losses    90,000    60,000    180,000    120,000  
Income Before Income Taxes    1,496,133    1,343,656    3,157,624    2,784,633  
Income Tax Expense    187,762    247,619    520,687    616,819  
Net Income   $ 1,308,371   $ 1,096,037   $ 2,636,937   $ 2,167,814  
Earnings Per Average  
   Share Outstanding   $ .78   $ .77   $ 1.57   $ 1.52  


The Company previously announced a second quarter dividend of $.25 per common share that is payable on July 29, 2005 to shareholders of record as of June 30, 2005. This compares to a $.24 per common share dividend that was paid to shareholders for the second quarter of 2004. Year-to-date dividends total $.50 per common share for the year 2005. This compares to total year-to-date dividends of $.48 per common share one year ago and represents an increase of 4.2%.

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Salisbury Bancorp, Inc.‘s sole subsidiary, Salisbury Bank and Trust Company, is a community bank. The Company has assets in excess of $400 million and continues to serve the communities of northwestern Connecticut and proximate communities in New York and Massachusetts which it has done for approximately 150 years. Salisbury Bank and Trust Company is headquartered in Lakeville, Connecticut and operates full service branches in Canaan, Salisbury and Sharon, Connecticut and South Egremont and Sheffield, Massachusetts. The Bank offers a full compliment of consumer and business banking products and services as well as trust services.

Statements contained in this news release contain 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 made 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 government regulations; changes in accounting principles; and the quality or composition of the loan and investment portfolios and other factors that may be described in the Company’s quarterly reports of Form 10-Q and its annual report on Form 10-K, each filed with the Securities and Exchange Commission, which are available at the Securities and Exchange Commission’s internet website (www.sec.gov) and to which reference is hereby made. Therefore, actual future results may differ significantly from results discussed in the forward looking statements.




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