Salisbury Bank to merge with NBT
The Salisbury Bank and Trust main branch in Lakeville. 
Photo by Patrick L. Sullivan

Salisbury Bank to merge with NBT

LAKEVILLE — Salisbury Bank and Trust announced Monday, Dec. 5, it plans to  merge with NBT Bank of Norwich, N.Y.

The SBT announcement said that “Salisbury Bank will become a part of NBT Bank during the second quarter of 2023, pending approval by shareholders and required regulatory agencies.”

SBT president Rick Cantele said NBT is similar to SBT,“in terms of the business model, products, and lending culture.”

Cantele said he has come to  know NBT President and Chief Executive Officer John Watt over the course of a couple years of general discussions, which eventually turned to the possibility of a merger.

Asked what customers can expect, Cantele said there won’t be any drastic changes, he continued, “other than the signs on the buildings and the name on your checks.”

Centele said the NBT management, of which he will be a member, “anticipate keeping all customer-facing” employees.

“And we’ll be keeping the new operations center [on Bissell Street in Lakeville] as a regional operations hub.”

NBT has also agreed to add some $500,000 to SBT’s current community donations.

“I’ve worked here all my life,” Cantele said. “In the bigger picture, this is a good thing. It’s very challenging for community banks in the current market.”

NBT describes itself on its website as a “full-service community bank with 140 locations in New York, Pennsylvania, Vermont, Massachusetts, New Hampshire, Maine and Connecticut. “

SBT has 14 branches in Connecticut, New York and Massachusetts.

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