LAKEVILLE, Conn., Aug. 1 /PRNewswire-FirstCall/ -- Salisbury Bancorp,Inc. (the "Company"), (Amex: SAL) the holding company for Salisbury Bankand Trust Company (the "Bank"), announced today that the Bank opened a fullservice branch in Dover Plains, New York to serve the Bank's growingcustomer base in New York State. John F. Perotti, Chairman and Chief Executive Officer of the Companyand the Bank, discussed the significance of the event and noted, "Salisburyhas long considered its market to be Northwestern Connecticut, BerkshireCounty, Massachusetts and proximate communities in New York State. Whilethe Bank has been able to serve its Connecticut and Massachusetts customersthrough a network of full service offices in those states, until the Bankacquired a branch in New York State it was precluded from establishingbranches in New York State. Despite this competitive disadvantage, over theyears the Bank developed a loyal customer base in New York State. Theopening of the Bank's branch in Dover Plains, New York was facilitatedthrough the acquisition of a small branch in Mount Vernon, New York. Suchacquisition was consummated on July 31, 2007 and the branch wassimultaneously relocated to Dover Plains. As a result, additional branchesin New York State can be established either de novo or by acquisition. Weare very pleased that the Bank has positioned itself to respond tocompetitive opportunities and expand its franchise in New York State aswell as Connecticut and Massachusetts." Richard J. Cantele, Jr., President of the Company and the Bank added,"The completion of our acquisition and relocation of a branch in New YorkState puts us on a level playing field in that we can offer New Yorkcustomers the convenience of local branches. The Dover Plains Branch willserve as the platform for our operations in New York State as we look toprofitably build our relationships with New York customers through ourarray of commercial and consumer banking products and through our trust andwealth advisory services division. The ability to expand our base ofprofitable operations in New York State should benefit our customers andpotential customers and serve to build long-term value for ourshareholders." At the close of business July 31, 2007, the Bank completed itsacquisition pursuant to a Purchase and Assumption Agreement with New YorkCommunity Bank of certain assets and liabilities of a small branch of NewYork Community Bank located in Mount Vernon, New York. Immediately uponconsummation of the branch acquisition, such branch was relocated to DoverPlains, New York, where it opened for business on August 1, 2007. Salisbury Bancorp, Inc.'s sole subsidiary, Salisbury Bank and TrustCompany, is a Connecticut chartered commercial bank. The Company has assetsin excess of $440 million and capital in excess of $40 million and servesthe communities of northwestern Connecticut and proximate communities inNew York and Massachusetts. Salisbury Bank and Trust Company isheadquartered in Lakeville, Connecticut and operates full service branchesin Canaan, Salisbury, Sharon and Lakeville, Connecticut, as well as SouthEgremont and Sheffield, Massachusetts and Dover Plains, New York. The Bankoffers a full complement of consumer and business banking products andservices as well as trust and investment services. Statements contained in this news release contain forward-lookingstatements within the meaning of the Private Securities Litigation ReformAct of 1995. These statements are based on the beliefs and expectations ofmanagement as well as the assumptions made using information currentlyavailable to management. Since these statements reflect the views ofmanagement concerning future events, these statements involve risks,uncertainties and assumptions, including among others: changes in marketinterest rates and general and regional economic conditions; changes ingovernment regulations; changes in accounting principles; and the qualityor composition of the loan and investment portfolios and other factors thatmay be described in the Company's quarterly reports on Form 10-Q and itsannual report on Form 10-K, each filed with the Securities and ExchangeCommission, which are available at the Securities and Exchange Commission'sinternet website (http://www.sec.gov) and to which reference is hereby made.Therefore, actual future results may differ significantly from resultsdiscussed in the forward- looking statements.
