NBT Bancorp (NBTB) merger with Salisbury Bancorp (SAL) - 08/11/2023

NBT Bancorp completed its merger with Salisbury Bancorp on 8/11/2023 for 0.7450 shares of NBT Bancorp stock for each SAL share. The Form 424B3 SEC filing regarding this merger can be found through the SEC EDGAR web site at:




The companies plan to structure the merger so it is a non-taxable event. We will assume they are successful and will treat this merger as a simple merger. The information below is based on the information available from a form S-4/A filed with the SEC. Price information is from websites offering historical prices.

NOTE: The companies state they will endeavor to satisfy the conditions necessary to make this transaction non-taxable. However, there is the possibility the IRS will disagree with their characterization. These instructions assume the companies succeed in their efforts. New instructions will be written, if and when it becomes known the merger should be treated as a taxable event.


The Merger Entry Go to Accounting > Securities > Record merger of securities in myICLUB. If you are unfamiliar with merger transactions you can get help at this URL: http://www.iclub.com/support/kb/default.asp?page=normal_merger


Here is the information needed for Salisbury Bancorp shareholders to complete the merger.

  • Date: 8/11/2023
  • Old Security or Merging Company: Salisbury Bancorp (SAL)
  • Price per share of old Security / :  Use last SAL valuation, if needed
  • Cash received:  See your broker statement for cash-in-lieu
  • New Security: NBT Bancorp (NBTB)
  • New Security Price: 37.41   (Closing price on 8/11/2023)
  • Shares received : 0.7450 x (# of SAL shares owned).
    • (Remember to include fractional shares.)
  • For example, if you owned 100 SAL shares, you should receive 0.7450 x 100 = 74.5 NBTB shares.


Save the transaction and the merger has been entered.