Banking & Savings M&A » By The Online Investor Staff, updated Fri., Apr. 19, 2:25 PM
Recent mergers and acquisitions in the Banking & Savings M&A category.
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Slide #80. Salisbury Bank and Trust Company — Sharon, Connecticut branch of Union Savings Bank
Acquirer:
Salisbury Bank and Trust Company (SAL)
Acquiree:
Sharon, Connecticut branch of Union Savings Bank
Details:
Salisbury Bank and Trust Company, the wholly-owned bank subsidiary of Salisbury Bancorp, Inc. (Nasdaq:SAL) and Union Savings Bank, a state chartered mutual bank, announced today that they have executed a definitive agreement for the sale of the Sharon, Connecticut branch of Union Savings Bank. Under the agreement, Salisbury Bank and Trust Company will acquire the Sharon, Connecticut branch of Union Savings Bank and assume approximately $19 million in deposits at a premium of 2.32%.
Salisbury Bancorp is a bank holding company. Through its subsidiary, Salisbury Bank and Trust Company (the Bank), Co. provides commercial banking, consumer financing, retail banking and trust and wealth advisory services. The Bank originates commercial loans, commercial real estate loans, residential and commercial construction loans, residential real estate loans collateralized by one-to-four family residences, home equity lines of credit and fixed rate loans and other consumer loans. The Bank provides fiduciary services such as trust and estate administration, wealth advisory, and investment management. Additional depositor related services include Merchant Services and Payroll Services.
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Avg. Broker Rec.
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Hold (2.00 out of 4) 100th percentile
(ranked higher than approx. 100% of all stocks covered)
Analysts' Target Price: SAL Stock Forecast Based on Zacks ABR data; powered by Xignite |
