Salisbury Bancorp, Inc.

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Ademi LLP is investigating Salisbury (Nasdaq: SAL) for possible breaches of fiduciary duty and other violations of law in its transaction with NBT.

Ademi LLP alleges Salisbury’s financial outlook and prospects are excellent and yet Salisbury shareholders are expected to receive only 0.7450 shares of NBT common stock for each Salisbury share they own, which equates to a value of $35.00 per Salisbury share and based on NBT’s volume-weighted average closing stock price of $46.98 for the 10-day trading period ending on November 29, 2022. The transaction agreement unreasonably limits competing bids for Salisbury by imposing a significant penalty if Salisbury accepts a superior bid. Salisbury insiders will receive substantial benefits as part of change of control arrangements.

We are investigating the conduct of Salisbury’s board of directors, and whether they are (i) fulfilling their fiduciary duties to all shareholders, and (ii) obtaining a fair and reasonable price for Salisbury.