UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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FORM 8-K
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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 29, 2008
SALISBURY BANCORP, INC.
(Exact name of registrant as specified in charter)
Connecticut 000-24751 06-1514263
(State or other jurisdiction of (Commission File Number) (IRS Employer
incorporation) Identification No.)
5 Bissell Street, Lakeville, Connecticut 06039-1868
(Address of principal executive offices) (zip code)
Registrant's telephone number, including area code: (860)435-9801
N/A
(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 5. Corporate Governance and Management
Item 5.02. Departure of Directors or Certain Officers; Election of
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Directors; Appointment of Certain Officers; Compensatory
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Arrangements of Certain Officers
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(a) On December 31, 2008, John F. Perotti, Chairman and Chief
Executive Officer of Salisbury Bancorp, Inc. (the "Company") and Salisbury Bank
and Trust Company (the "Bank"), the Company's wholly-owned subsidiary, announced
that effective June 8, 2009, Mr. Perotti is retiring as Chief Executive Officer
of the Company and the Bank. Mr. Perotti's retirement is pursuant to his
long-held personal plans which he has discussed with the Board of Directors for
several years. Mr. Perotti selected his retirement date to coincide with the
expiration of his term as President of the Connecticut Community Bankers
Association (CCBA). Mr. Perotti will continue as a director of the Company and
the Bank.
(b) Effective June 8, 2009, Richard J. Cantele, Jr., 49, who
is currently President and Chief Operating Officer of the Company and the Bank,
will become Chief Executive Officer and President of the Company and the Bank.
Mr. Cantele has served as an Executive Officer of the Company since 2001 and of
the Bank since 1989. Mr. Cantele also serves as a director of the Company and
the Bank.
(c) Exhibits 99.1 Press Release dated December 31, 2008.
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 31, 2008 SALISBURY BANCORP, INC.
By: /s/ John F. Perotti
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John F. Perotti
Chairman and Chief Executive Officer