The deal value is about $28M based on last night's closing price of Salisbury (SAL). Riverside shareholders will receive 1.35 shares of Salisbury for each share of Riverside they own.
The combined group will have about $808M in assets, $630M in loans, and $682M in deposits with 13 branches in CT, MA, and NY.
The deal is expected to be accretive to EPS by more than 10% and boost Salisbury's tangible common equity ratio.
SAL shares have not yet opened for trade.