Seeking Alpha

Salisbury Bancorp to purchase Riverside Bank

  • 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.
  • Press release
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