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):       December 11, 2008
                                                  ------------------------------

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

           Connecticut                      000-24751             06-1514263
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 (State or other jurisdiction of    (Commission File Number)    (IRS Employer
          incorporation)                                     Identification No.)

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

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

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          (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 8.        Other Events

Item 8.01.        Other Events
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   Salisbury  Bancorp,  Inc.  ("Salisbury" or the "Company") (NYSE Alternext US:
SAL),  parent  company of Salisbury  Bank and Trust Company  ("Bank"),  reported
today that the Bank has prepaid a $19 million  borrowing  from the Federal  Home
Loan Bank of Boston at a cost of  approximately  $570,000,  net of tax. The Bank
took such  action as part of a program  to  restructure  a portion of the Bank's
borrowings.  The borrowings  which were at a rate of 5.97% will be replaced with
new Federal Home Loan Bank advances that have lower interest rates and a revised
maturity  structure.  While the  prepayment  will result in a one time after tax
expense of  approximately  $570,000 in the fourth calendar  quarter of 2008, the
Company still  expects to report net income for the quarter  ended  December 31,
2008.

         This  restructuring  is  expected  to  result in a  decrease  in future
borrowing  expense which is intended to increase  earnings per share in 2009 and
future  years.  After  careful  analysis  the  Company has  determined  that the
borrowing  restructuring  was an  advisable  course of action  given the current
interest rate environment,  and the opportunities to reprice that are present in
the market.  The intended future benefit of this restructuring is improvement in
earnings per share due to a decrease in future borrowing expense.

         Salisbury Bancorp's sole subsidiary,  Salisbury Bank and Trust Company,
is a  community  bank.  The  Company  has assets in excess of $480  million  and
capital in excess of $38 million and has served the  communities of northwestern
Connecticut  and  proximate  communities  in  New  York  and  Massachusetts  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,  South  Egremont and  Sheffield,
Massachusetts  and Dover Plains,  New York. The Bank offers a full complement of
consumer and business  banking products and services as well as trust and wealth
advisory services.

         Statements  contained in this report 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.



                                   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: December 12, 2008                          SALISBURY BANCORP, INC.


                                                  By:     /s/ John F. Foley
                                                         -----------------------
                                                         John F. Foley
                                                         Chief Financial Officer