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August 14, 2023NBT Bancorp Inc. Completes Merger with Salisbury Bancorp, Inc. and Announces Increased Cash Dividend
NBT Bancorp Inc. (“NBT” or the “Company”) (NASDAQ: NBTB) announced that it completed the merger of Salisbury Bancorp, Inc. (“Salisbury”) with and into NBT (“Merger”) on August 11, 2023. The Merger added 13 banking offices to the NBT franchise in complementary markets, including northwestern Connecticut, the Hudson Valley region of New York and southwestern Massachusetts. Following a core systems conversion that occurred over the weekend, NBT Bank now has 153 banking offices across its seven-state footprint.
“We are honored to build on the relationships Salisbury has cultivated with its customers, communities and shareholders for 175 years,” said NBT President and CEO John H. Watt, Jr. “We are also pleased to welcome the dedicated professionals joining NBT in customer-facing positions in our retail, commercial and wealth management businesses along with many in key support roles in our new Lakeville Operations Center. With the integration of our two high-quality community banks, we are focused on continuing to support all stakeholders with a smooth transition and to the opportunity to grow our combined company together.”
In connection with the closing of the Merger, NBT has appointed former President and CEO of Salisbury, Richard J. Cantele, Jr., to its board of directors. He will also join the Executive Management Team at NBT.
