-----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, F6r0XMOWCVK4rKGnXiyR/BtEk3A8tODJJWbZi2/zKwzBAdW/3iKmHIkeCE7vI5FJ b5Ejebr4rFxEs2FDnXDeFA== 0000914317-06-000747.txt : 20060308 0000914317-06-000747.hdr.sgml : 20060308 20060308162931 ACCESSION NUMBER: 0000914317-06-000747 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20060306 ITEM INFORMATION: Results of Operations and Financial Condition ITEM INFORMATION: Other Events ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20060308 DATE AS OF CHANGE: 20060308 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: 06673458 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-74785_sal.txt FORM 8-K 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): March 6, 2006 ------------- SALISBURY BANCORP, INC.. ------------------------ (Exact name of registrant as specified in charter) Connecticut 000-24751 06-1514263 - -------------------------------------------------------------------------------- (State or other jurisdiction (Commission File Number) (IRS Employer of incorporation) Identification No.) 5 Bissell Street, Lakeville, Connecticut 06039-1868 - -------------------------------------------------------------------------------- (Address of principal executive offices) (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 March 8, 2006, Salisbury Bancorp, Inc. (the "Company") issued a press release announcing its financial results for the year ended December 31, 2005. The press release is attached as Exhibit 99.1 and is incorporated herein by reference. Section 8. Other Events Item 8.01. Other Events - --------------------------- The Board of Directors of Salisbury Bancorp, Inc. declared a $0.26 per share quarterly cash dividend at their March 6, 2006 Board Meeting. The quarterly cash dividend will be paid on April 28, 2006 to shareholders of record as of March 31, 2006. Section 9. Financial Statements and Exhibits Item 9.01. Financial Statements and Exhibits - ------------------------------------------------ (c) Exhibits 99.1 Press Release dated March 8, 2006. 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: March 8, 2006 SALISBURY BANCORP, INC. By: /s/ John F. Perotti ----------------------------- John F. Perotti, Chairman and Chief Executive Officer EX-99.1 2 ex99-1.txt PRESS RELEASE WEDNESDAY, MARCH 8, 2006 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 YEAR END EARNINGS AND AN INCREASED DIVIDEND FOR SHAREHOLDERS Lakeville, Connecticut, March 8, 2006/PRNewswire .Salisbury Bancorp, Inc. (the "Company"), (AMEX:SAL) the holding company for Salisbury Bank and Trust Company announced today that net income for the fourth quarter of 2005 was $793,193 or $.47 per average share outstanding. For the twelve months ended December 31, 2005, net income totaled $4,561,341 or $2.71 per average share outstanding as compared to net income of $4,018,942 or $2.67 per average share outstanding for the same twelve month period in 2004.
Quarter Ended Twelve Months Ended December 31 December 31 2005 2004 2005 2004 ---- ---- ---- ---- (unaudited) (unaudited Total Interest and Dividend Income $ 5,440,536 $ 4,876,414 $20,816,383 $16,551,018 Net Interest and Dividend Income 3,383,848 3,148,800 13,464,432 10,892,022 (Benefit) Provision for Loan Losses (60,000) 70,000 210,000 250,000 Income Before Income Taxes 1,034,482 1,215,419 5,675,754 4,793,890 Income Tax Expense 241,288 160,193 1,114,413 774,948 Net Income $ 793,193 $ 1,055,226 $ 4,561,341 $ 4,018,942 Earnings Per Average Share Outstanding $ .47 $ .63 $ 2.71 $ 2.67
During the year 2005, Salisbury Bancorp, Inc. declared cash dividends totaling $1.00 per common share outstanding. This compares to total dividends declared during 2004 of $.96 per common share outstanding and represents a 4.17% increase over 2004. At their March 6, 2006 meeting, the Directors of Salisbury Bancorp, Inc. declared a first quarter dividend of $.26 per common share outstanding. This compares to a $.25 per share cash dividend that was declared during the first quarter of 2005. The $.26 per share dividend will be paid on April 28, 2006 to shareholders of record as of March 31, 2006. -3- Salisbury Bancorp, Inc.'s sole subsidiary, Salisbury Bank and Trust Company, is a Connecticut chartered commercial bank. The Company has assets in excess of $400 million and capital in excess of $40 million and serves 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 as well as Lakeville, 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 and investment 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 on 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. -4- -----END PRIVACY-ENHANCED MESSAGE-----