SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of
the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): April 28, 2004
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SALISBURY BANCORP, INC.
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(Exact name of registrant as specified in charter)
Connecticut 06-1514263
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(State or other jurisdiction of incorporation) (IRS Employer Identification No.)
5 Bissell Street, Lakeville, Connecticut 06039-1868
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(Address of principal executive offices) (zip code)
Registrant's telephone number, including area code: (860) 435-9801
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Form 8-K, Current Report
Salisbury Bancorp, Inc.
Item 5. Other Events.
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A. Annual Meeting of Shareholders of Salisbury Bancorp, Inc.
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The Annual Meeting of Shareholders of Salisbury Bancorp, Inc. (the
"Company"), the holding company for Salisbury Bank and Trust Company (the
"Bank") was held on Wednesday, April 28, 2004. Shareholders voted on the
election of directors and the ratification of the appointment of independent
auditors.
The results of the votes of shareholders regarding each proposal are set
forth below:
PROPOSAL 1
ELECTION OF DIRECTORS
Each of the two nominees received in excess of a plurality of the votes
cast at the meeting and were elected to serve until their term expires or their
successors are elected and qualified.
The vote for electing nominees as directors was as follows:
Withholding
For Authority
John F. Perotti Number of Shares: 1,099,272 25,640
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Percentage of
Shares Voted: 97.7% 2.3%
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Percentage of Shares
Entitled to Vote: 77.1% 1.9%
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Withholding
For Authority
Michael A. Varet Number of Shares: 1,099,099 25,813
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Percentage of
Shares Voted: 97.7% 2.3%
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Percentage of Shares
Entitled to Vote: 77.1% 1.9%
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PROPOSAL 2
RATIFICATION OF THE APPOINTMENT OF INDEPENDENT AUDITORS
The appointment of Shatswell, MacLeod & Company, P.C. as independent
auditors for the Company for the year ending December 31, 2004 was approved
because the votes for such appointment exceeded the votes against such
appointment.
The vote to ratify the appointment of Shatswell, MacLeod & Company, P.C. as
independent auditors for the Company for the year ending December 31, 2004 was
as follows:
"For" "Against" "Abstain"
Number of Votes: 1,124,110 624 --
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Percentage of Shares Voted: 99.9% .1% --
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Percentage of Shares
Entitled to Vote: 78.9% 0 --
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ELECTION OF CHAIRMAN OF THE BOARD OF DIRECTORS
Following the Meeting of Shareholders, at the organizational meetings of
the Board of Directors of the Company and the Bank, the Board of Directors of
the Company elected John R. H. Blum, Chairman of the Board of Directors of
Salisbury Bancorp, Inc. The Board of Directors of the Bank also elected Mr.
Blum, Chairman of the Board of Directors of Salisbury Bank and Trust Company.
The Chairman serves at the pleasure of each Board during a term expiring at
the organizational meeting of each Board following the Annual Meeting of
Shareholders.
Item 7. Financial Statements, Pro Forma Financial Information and Exhibits.
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(a) Financial Statements of Business Acquired.
None.
(b) Pro Form Financial Information.
None.
(c) Exhibits.
99.1 Press Release dated April 29 2004.
Item 9. Regulation FD Disclosure.
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A summary of the remarks, which John F. Perotti, President, made at the
Annual Meeting, is attached as Exhibit 99.1.
Item 12. Results of Operations and Financial Conditions.
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On April 29 2004, the Company issued the attached press release related to
its earnings for the year ended December 31, 2003 and for the quarter ended
March 31, 2004.
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: April 29, 2004 SALISBURY BANCORP, INC.
By: /s/ John F. Perotti
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John F. Perotti, President and
Chief Executive Officer
Exhibit Index
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99.1 Remarks from the President
99.2 Press Release dated April 29, 2004.