NBT Bancorp falls on $204 mln deal to buy Salisbury Bancorp

Salisbury Bancorp

05/12/2022 16:47

** Shares of regional lender NBT Bancorp Inc  NBTB.O  down
5.6% at $43.66 - hitting lowest levels since late Oct 
    ** Co says it will buy Salisbury Bancorp  SAL.O  in an
all-stock deal valued at roughly $204 million
    ** Under deal terms, SAL common stock will be converted into
the right to receive 0.7450 shares of NBT common stock 
    ** As of Sept 30, SAL had assets of $1.51 bln, deposits of
$1.33 bln and net loans of $1.18 bln
    ** Deal expected to close in Q2 2023 
    ** Including session's loss, stock up ~13.3% YTD 
 (Reporting by Manya Saini in Bengaluru)
 ((Manya.Saini@thomsonreuters.com))