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Salisbury Bancorp Inc (SAL.OQ)

SAL.OQ on NASDAQ Stock Exchange Capital Market

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8 Dec 2017
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Summary

Name Age Since Current Position

Michael Varet

73 2010 Independent Chairman of the Board

Richard Cantele

55 2014 President, Chief Executive Officer of the Company and Bank, Director

Peter Albero

52 2017 Executive Vice President and Chief Financial Officer of the Company and the Bank

John Davies

52 2014 President, New York Region and Chief Lending Officer of the Bank

Todd Clinton

53 2014 Executive Vice President, Chief Risk Officer of the Bank

James Cotter

55 2016 Executive Vice President and Chief Operating Officer of the Bank

Richard Kelly

56 2014 Executive Vice President and Chief Lending Officer of the Bank

Elizabeth Summerville

55 2014 Executive Vice President and Chief Retail Officer of the Bank

Louis Allyn

67 2004 Independent Director

Charles Andola

71 2014 Independent Director

George Banta

79 2014 Independent Director

Arthur Bassin

70 2010 Independent Director

David Farrell

59 2012 Independent Director

Michael Gordon

69 2014 Independent Director

Polly Hoe

70 2014 Independent Director

Nancy Humphreys

73 2001 Independent Director

Holly Nelson

61 1998 Independent Director

John Perotti

69 2009 Independent Director

Shelly Humeston

IR Contact

Biographies

Name Description

Michael Varet

Mr. Michael A. Varet is Independent Chairman of the Board of the Company. Mr. Varet graduated with a B.S. in Economics from the University of Pennsylvania, Wharton School in 1962 and from Yale Law School with an LL.B. in 1965. Mr. Varet was elected Chairman of the Board in 2010 before which Mr. Varet had served as Presiding Director since 2007. Mr. Varet is a Senior Counsel to the law firm of DLA Piper LLP (US), New York, NY. Mr. Varet’s education and experience enables him to provide valuable knowledge to the Board and his legal background and analytical skills provide insight into financial services and corporate governance matters.

Richard Cantele

Mr. Richard J. Cantele, Jr., is President, Chief Executive Officer of the Company and Bank, Director of the Company. Mr. Cantele graduated from Fairfield University in 1981 with a Bachelor of Science degree in Finance; and graduated from the Stonier Graduate School of Banking in 1997. Mr. Cantele became President and Chief Executive Officer of Salisbury and the Bank in 2009, prior to which he served as President and Chief Operating Officer of Salisbury and the Bank since 2005. Mr. Cantele has been an executive officer of Salisbury since 2001 and the Bank since 1989, serving as Executive Vice President, Treasurer and Chief Operating Officer of the Bank and Salisbury and Secretary of Salisbury.

Peter Albero

Mr. Peter Albero is appointed as Executive Vice President and Chief Financial Officer of the Company and the Bank effective October 20, 2017. He has over 30 years of accounting, financial reconciliation, and regulatory reporting experience. He previously served as Director, Financial Services Advisory Practice at PricewaterhouseCoopers LLP, New York, NY since September 2015. Prior to that, Mr. Albero spent 27 years at Morgan Stanley, New York, NY most recently serving as Managing Director, Head of SEC Reporting and Disclosure from June 2014 to July 2015. He served as Managing Director, Head of Regulatory Reporting from September 2012 to May 2014 and prior to that, as Managing Director, Head of Corporate Reporting and Analysis from December 2007 to August 2012. Mr. Albero received a B.S. in Accounting and Finance from Manhattan College in 1986, and an M.B.A. in Finance and International Business from New York University in 1996. He is a Certified Public Accountant in New York.

John Davies

Mr. John M. Davies is President, New York Region and Chief Lending Officer of the Bank., the subsidiary of the Company. Prior to that, Mr. Davies served as President and Chief Executive Officer of Riverside Bank for 3 years. He is a graduate of Pace University with an MBA in Business Administration and has more than 25 years of commercial lending experience.

Todd Clinton

Mr. Todd M. Clinton is Executive Vice President, Chief Risk Officer of the Bank., the subsidiary of the Company. Prior to that, he served as Senior Vice President, Chief Technology and Compliance Officer of the Bank since June of 2002. Mr. Clinton served as Operations Officer of the Bank from September of 1997 to June of 2002. He is a graduate of the Connecticut School of Finance and Management and the ABA Compliance Management School with more than 25 years of experience in community banking.

James Cotter

Mr. James E. Cotter is Executive Vice President and Chief Operating Officer of the Company’s subsidiary, Salisbury Bank and Trust Company. Prior to this appointment, Mr. Cotter served as Executive Vice President and Chief Operating Officer of Naugatuck Valley Savings and Loan from May 2013 until January 2016. Prior to that, he served as Senior Vice President at Newtown Savings Bank from February 2006 to May 2013 and as Senior Vice President at Fairfield County Bank from January 2000 to February 2006. In such prior positions, Mr. Cotter was responsible for oversight of Retail Banking, Deposit Operations, Investment Sales, Marketing, Security, Facilities, and IT. Mr. Cotter earned his Bachelor's degree in Finance from the University of Connecticut, and his MBA in Accounting from the University of New Haven. He was previously a registered Certified Public Accountant in the State of Connecticut.

Richard Kelly

Mr. Richard P. Kelly is Executive Vice President and Chief Lending Officer of the Bank., the subsidiary of the Company. Mr. Kelly joined the Bank in April of 2013 as Vice President, Senior Commercial Lender. In October of 2013, he was appointed to serve as Senior Vice President and Chief Lending Officer. He was named Executive Vice President and Chief Lending Officer in May of 2014. In December of 2014, Mr. Kelly was named Executive Vice President and Chief Credit Officer. He is a graduate of Hamilton College with a BA in Economics and has worked in commercial banking for more than 20 years.

Elizabeth Summerville

Mrs. Elizabeth A. Summerville is Executive Vice President and Chief Retail Officer of the Bank., the subsidiary of the Company. Mrs. Summerville joined the Bank in January of 2004 as Vice President, Special Projects. In January of 2007, she was named Senior Vice President, Retail Banking. Most recently, Mrs. Summerville was named Executive Vice President, Chief Retail Officer in May of 2014. She is a graduate of the ABA Compliance Management School, the New England School of Banking, and has received her AIB Applied Banking Certificate. She has more than 35 years of banking experience.

Louis Allyn

Mr. Louis E. Allyn, II, is Independent Director of the Company. Mr. Allyn is a 1972 graduate of the University of Connecticut School of Business and has been President and General Manager of Allyndale Corporation, Canaan, CT since 1990. Allyndale Corporation mines and processes limestone into a variety of agricultural and lawn and garden products that are distributed throughout southern New England and New York state. Mr. Allyn was a Director of Canaan National Bank for approximately 13 years prior to its acquisition by Salisbury in 2004. Mr. Allyn has served as a member of the Board of Finance for the Town of North Canaan and previously served as its Chair.

Charles Andola

Mr. Charles M. Andola is Independent Director of the Company. Mr. Andola graduated from Cornell University in 1965, returning to the Hudson Valley to become the Chief Operating Officer of Costa Apple Products, a family owned company. After purchasing Costa Apple from the family in 1974, he joined two others as a partner in United Apple Sales. Campbell Soup bought Costa Apple from United for its Pepperidge Farm division in 1982. Mr. Andola served as a consultant to Pepperidge Farm for three years. During this period, he led United Apple’s efforts establishing direct routes for their export sales division worldwide. Mr. Andola founded the US Apple Export Council and served as the New York State representative from 1988 until 2004. He was elected chairman in 1996, and again in 2004. He has also served on the board of the Processed Apples Institute in Washington, DC, and on the board of Saint Francis Hospital in Poughkeepsie, NY. Mr. Andola was one of the fifteen founders of Riverside Bank. He formerly served on the board of Riverside since 1988, and served as chairman from August 2012 to December 2014.

George Banta

Mr. George E. Banta is Independent Director of the Company. Mr. Banta is a graduate of Cornell University, School of Hotel Administration and has over 25 years of experience in the restaurant, hotel, and real estate businesses. Mr. Banta owns the Beekman Arms Inn in Rhinebeck, New York, and serves as President of Banta Properties, Inc., which owns and operates three restaurants. Mr. Banta is also President of Banta Motel Co. Inc., which owns and operates 20 franchise hotels in New York, Connecticut, Pennsylvania, and New Jersey.

Arthur Bassin

Mr. Arthur J. Bassin is Independent Director of the Company. Mr. Bassin has spent 25 years in consumer, commercial and mortgage banking at Citibank (1969-1983) and Dime Savings Bank of New York (1983-1992), followed by 10 years in private equity, most recently as President and Chief Executive Officer of TVData Technologies (1994-2001). He earned his MBA from Harvard Business School in 1969 and his AB from Harvard College in 1965. Mr. Bassin took office as Ancram Town Supervisor in January 2010. Mr. Bassin has served as a Director on several boards and currently serves on the Boards of Cricket Hill Farm, Inc. and Cricket Hill Academy, Inc. Mr. Bassin previously served on the Board of Amputee Coalition of America. Mr. Bassin also serves on the Ancram Town Board and the Columbia County Board of Supervisors.

David Farrell

Mr. David B. Farrell is Independent Director of the Company. Mr. Farrell graduated from St. Bonaventure University, NY, cum laude, in 1977 with a B.S. degree in Business and Accounting. Mr. Farrell is the Chief Executive Officer of NAPPI International, an organization providing behavioral training through customized counseling and support. Mr. Farrell is also Chief Executive Officer and Founder of Farrell & Company, LLC, a management consulting firm. Mr. Farrell previously served as President and Chief Executive Officer and member of the board of directors of Bob’s Stores (1999-2008) and previously served as an officer and director of Berkshire Hills Bancorp (2005-2009).

Michael Gordon

Mr. Michael D. Gordon is Independent Director of the Company. Mr. Gordon is a U.S. Navy Vietnam veteran. He attended Merrimack College and the Connecticut School of Broadcasting. After graduating from broadcasting school, he joined WKIP radio in Poughkeepsie as a rock n’ roll disc jockey and then WHVW in Hyde Park. In July 1970, he married Debby Zimmer and joined her family’s business, Zimmer Brothers Jewelers in 1971. He is now President of the 121 year old firm. Mr. Gordon is co-founder and past President of the Arlington Business Improvement District and a current board member. An eleven year member of the Pleasant Valley Planning Board, he is Vice President of the Dutchess County Historical Society and Chairman of the Society's endowment fund campaign.

Polly Hoe

Ms. Polly Diane Hoe is Independent Director of the Company. Ms. Hoe graduated cum laude from Vassar College in 1966 and later from NYU School of Law, where she served as an editor of the Law Review. In the early 1990s, after practicing banking law with a prominent New York City firm, she returned to Dutchess County as President and Chief Executive Officer of a family bowling and real estate business. Ms. Hoe served as a director of Riverside Bank from 2000 to 2014.

Nancy Humphreys

Mrs. Nancy F. Humphreys is Independent Director of the Company. Mrs. Humphreys graduated from Chatham College in 1963 and from Syracuse University, Maxwell Graduate School in 1965. Mrs. Humphreys retired from Citigroup New York, Citibank, in February of 2000 as Managing Director and Treasurer of Global Corporate Investment Bank North America.

Holly Nelson

Ms. Holly J. Nelson is Independent Director of the company. Ms. Nelson graduated from Cornell University with a B.A. in 1979. Ms. Nelson is a member of Iceland Adventure, LLC, a tour operator, and Sales and Marketing Director for Iceland Tours and Travel. Ms. Nelson has been involved in a variety of public government positions in the Town of North East, New York.

John Perotti

Mr. John F. Perotti is Independent Director of the Company. Mr. Perotti attended University of Connecticut at Storrs; graduated from Hartford Institute of Accounting in 1972; and graduated from Williams College New England School of Banking and Bank Management. During 2009, he retired as Chairman and Chief Executive Officer of Salisbury and the Bank, in which capacity he had served since 2005. Prior to that, he served as President and Chief Executive Officer of Salisbury and the Bank, Executive Vice President and Chief Operating Officer of the Bank and Vice President and Treasurer of the Bank.

Shelly Humeston