Salisbury Bancorp, Inc. (NASDAQ:SAL) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers

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Salisbury Bancorp, Inc. (NASDAQ:SAL) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
Item 5.02

Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

On October 12, 2017, the Boards of Salisbury Bancorp, Inc. (the “Company”) and its subsidiary, Salisbury Bank and Trust Company (the “Bank”) appointed Peter Albero as Executive Vice President and Chief Financial Officer of the Company and the Bank effective October 20, 2017.

Mr. Albero, age 52, has over 30 years of accounting, financial reconciliation, and regulatory reporting experience. He previously served as Director, Financial Services Advisory Practice at PricewaterhouseCoopers LLP, New York, NY since September 2015. Prior to that, Mr. Albero spent 27 years at Morgan Stanley, New York, NY most recently serving as Managing Director, Head of SEC Reporting and Disclosure from June 2014 to July 2015. He served as Managing Director, Head of Regulatory Reporting from September 2012 to May 2014 and prior to that, as Managing Director, Head of Corporate Reporting and Analysis from December 2007 to August 2012. Mr. Albero received a B.S. in Accounting and Finance from Manhattan College in 1986, and an M.B.A. in Finance and International Business from New York University in 1996. He is a Certified Public Accountant in New York.

Mr. Albero had been serving as a Finance Consultant for the Company and the Bank since July 2017.

There are no arrangements or understandings between Mr. Albero and any other person to which Mr. Albero was appointed to serve as Executive Vice President and Chief Financial Officer of the Company and the Bank. There are no family relationships between Mr. Albero and any director or executive officer of the Company or the Bank or relationships or related transactions between the Company or the Bank and Mr. Albero that would require disclosure to Item 404(a) of Regulation S-K.

Section 8 – Other Events

Item 8.01

Other Events

On October 12, 2017, the Company issued a press release related to the appointment of Peter Albero as Executive Vice President and Chief Financial Officer of the Company and its subsidiary, Salisbury Bank and Trust Company. A copy of such press release is attached hereto as Exhibit 99.1.

Section 9 – Financial Statements and Exhibits

Item 9.01

Financial Statements and Exhibits

(a)Not Applicable.

(b)Not Applicable.

(c)Not Applicable.

(d)Exhibits.

Exhibit No. Description
99.1 Press release dated October 12, 2017


SALISBURY BANCORP INC Exhibit
EX-99.1 2 sal1012form8kexh99_1.htm EXHIBIT 99.1 Exhibit 99.1         Thursday,…
To view the full exhibit click here

About Salisbury Bancorp, Inc. (NASDAQ:SAL)

Salisbury Bancorp, Inc. is a bank holding company for Salisbury Bank and Trust Company (the Bank). The Bank is a Connecticut-chartered and Federal Deposit Insurance Corporation (the FDIC) insured commercial bank. The Bank provides commercial banking, consumer financing, retail banking and trust and wealth advisory services through a network of over 10 banking offices and approximately nine automated teller machines (ATMs). 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, fixed rate loans and other consumer loans. The Bank’s securities portfolio include the United States Government and Agency securities, mortgage-backed securities, collateralized mortgage obligations and tax exempt municipal bonds. The Bank uses deposits, repayments and sales, and borrowings to fund lending, investing and general operations.

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