Hogan Lovells represents NBT Bancorp in its acquisition of Salisbury Bancorp
Washington, D.C., 9 December 2022 – Global law firm Hogan Lovells represented NBT Bancorp in its merger transaction acquiring Salisbury Bancorp.
Under the terms of the definitive agreement, Salisbury will merge with and into NBT. The merger consideration is 100% stock and is valued at approximately $204 million. The transaction is expected to close in the second quarter of 2023 subject to customary closing conditions, including approval by the shareholders of Salisbury and required regulatory approvals.
NBT, which is based in Norwich, NY, has 141 branches in seven states. Salisbury is based in Lakeville, CT, and has 14 branches. The combination, approved unanimously by the boards of directors of both companies, will provide market extension for both institutions and join two high-quality franchises with long histories of service to their customers and communities.
The Hogan Lovells team representing NBT was led by partners Richard Schaberg and Les Reese.
More on the transaction is here.