Brief: NBT Bancorp, Salisbury Bancorp Announce Agreement To Merge

Salisbury Bancorp

05/12/2022 14:12

Dec 5 (Reuters) - NBT Bancorp Inc  NBTB.O :
    * NBT BANCORP AND SALISBURY BANCORP ANNOUNCE AGREEMENT TO
MERGE
    * NBT BANCORP INC- MERGER CONSIDERATION IS 100% STOCK AND IS
VALUED AT APPROXIMATELY $204 MILLION
    * NBT BANCORP INC - NBT EXPECTS TRANSACTION TO BE
APPROXIMATELY
9.8% ACCRETIVE TO FIRST FULL-YEAR PROFORMA GAAP EARNINGS PER
SHARE AFTER CLOSE
    * NBT BANCORP INC - FOLLOWING COMPLETION OF MERGER,
SALISBURY BANK
AND TRUST OFFICES WILL BECOME NBT BANK, N.A. LOCATIONS
    * NBT BANCORP INC- UNDER TERMS EACH OUTSTANDING SHARE OF
SALISBURY
COMMON STOCK WILL BE CONVERTED INTO RIGHT TO RECEIVE 0.7450
SHARES OF NBT COMMON STOCK
    * NBT BANCORP INC - NBT INTENDS TO ESTABLISH A REGIONAL
OPERATIONS
CENTER IN LAKEVILLE, CT
    * NBT BANCORP INC- EXPECTS TRANSACTION TO BE APPROXIMATELY
9.8%
ACCRETIVE TO FIRST FULL-YEAR PROFORMA GAAP EARNINGS PER SHARE
    * NBT BANCORP INC- FOLLOWING COMPLETION OF MERGER, SALISBURY
BANK
AND TRUST OFFICES WILL BECOME NBT BANK, N.A. LOCATIONS
    * NBT BANCORP INC - MERGER AGREEMENT ALSO PROVIDES FOR ONE
DIRECTOR FROM SALISBURY TO BE ADDED TO BOARD OF DIRECTORS OF NBT
AT CLOSING

Source text for Eikon:  ID:nGNXBzzyt 
Further company coverage:  NBTB.O 
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