 LAKEVILLE, Conn., March 31, 2021 GLOBE NEWSWIRE -- Salisbury Bancorp, Inc. Salisbury or the Company, NASDAQ: SAL the holding company for Salisbury Bank and Trust Company the Bank, announced today the completion of a private placement of 25.0 million in aggregate principal amount of Fixed to Floating Rate Subordinated Notes due 2031 the Notes to various accredited investors. The Notes have a maturity date of March 31, 2031 and bear interest at an annual rate of 3.50 per annum, from and including the Closing Date to, but excluding March 31, 2026 or the earlier redemption date, payable quarterly in arrears. From and including March 31, 2026 to, but excluding the maturity date or earlier redemption date, a floating per annum rate expected to be equal to the then current three-month SOFR plus 280 basis points, provided, however, that in the event three-month SOFR is less than zero, three-month term SOFR shall be deemed to be zero, payable quarterly in arrears. Interest on the Subordinated Notes will be payable on March 31, June 30, September 30 and December 31 of each year to, but excluding, March 31, 2026 or the earlier redemption date, at the rate of 3.50, and quarterly thereafter on March 31, June 30, September 30 and December 31 of each year to, but excluding, the maturity date or earlier redemption date at the floating rate. The first interest payment will be made on June 30, 2021. 