LAKEVILLE, Conn., Dec. 14, 2012 (GLOBE NEWSWIRE) -- Salisbury Bancorp, Inc. ("Salisbury") (NYSE MKT:SAL), the holding company for Salisbury Bank and Trust Company, announced today that it has been approved for listing on The NASDAQ Stock Market LLC, where it will trade on the NASDAQ Capital Market under its current symbol "SAL." Trading on the NASDAQ is expected to commence on December 26, 2012. Salisbury's common stock will continue to trade on the NYSE Amex until the market close on December 24, 2012.
Richard J. Cantele, Jr., President and Chief Executive Officer, commented, "We believe that the move to NASDAQ will improve the visibility of our stock and enhance trading liquidity in our shares. By moving to NASDAQ we will be joining our banking peers, where approximately 81% of banks are listed, compared with 3% on NYSE Amex and 16% on NYSE. The move will make Salisbury potentially eligible for inclusion in the ABA NASDAQ Community Bank Index (ABAQ). This index is the most broadly representative stock index of the community bank industry and includes more than 400 banks with a market capitalization of approximately $123 billion as of December 2012."
"NASDAQ is proud to welcome Salisbury Bancorp to our family of NASDAQ-listed companies, which includes more regional and community banks than any other US exchange," said JR Mastroianni, Vice President, NASDAQ OMX. "We look forward to a long partnership with Salisbury Bancorp and its shareholders."Background Salisbury Bancorp, Inc. is the parent company of Salisbury Bank and Trust Company (the "Bank"), a Connecticut chartered commercial bank serving the communities of northwestern Connecticut and proximate communities in New York and Massachusetts, since 1848, through full service branches in Canaan, Lakeville, Salisbury and Sharon, Connecticut, South Egremont and Sheffield, Massachusetts and Dover Plains and Millerton, New York. The Bank offers a full complement of consumer and business banking products and services as well as trust and wealth advisory services.