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Exhibit 99.1
Presentation Materials |
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2006 Annual Shareholder’s Meeting
Salisbury Bancorp, Inc.
**Statements contained in this Annual Meeting Presentation Material contain forward-looking
statements within the meaning of the Private Securities Litigation Reform Act of 1995. These
statements are based on the beliefs and expectations of management as well as the assumption
made using information currently available to management. Since these statements reflect the
views of management concerning future events, these statements involve risks, uncertainties and
assumptions, including, among others: changes in market interest rates and general and regional
economic conditions; changes in government regulations; changes in accounting principles; and
the quality or composition of the loan and investment portfolios and other factors that may be
described in the Company’s quarterly reports of Form 10-Q and its annual report on Form 10-K,
each filed with the Securities and Exchange Commission, which are available at the Securities and
Exchange Commission’s internet website (www.sec.gov) and to which reference in hereby made.
Therefore, actual future results may differ significantly from results discussed in the forward-
looking statements.
Salisbury Bank and Trust Company
$403 million in assets
Approximately 750 shareholders
24,000 deposit accounts
6,600 loan accounts
118 FTE’s
6 full service locations
9 ATM’s
2 limited service locations
2005 Highlights
Completed merger integration
Customer relationship management
Closed 1332 loans totaling more than $110 mm
Closed 281 residential mortgages - $55 million
Closed 258 commercial loans - $33 million
Net Income - $4,561,341
2005 Highlights (cont’d)
Trust and Investment Services
55 new account relationships - $12 million
Completed core operating system conversion
Bradley Foster and Sargent, Inc.
Enhanced business development resources
Mission
Salisbury Bank and Trust Company strives to be the leading
community bank in the tri-state area. We are committed to
providing professional financial services in a friendly and
responsive manner.
We are dedicated to being an active corporate citizen in the
communities we serve, we will inspire our staff to grow
personally and professionally. Our achievement of these goals
will continue to assure customer satisfaction, profitability, and
enhanced shareholder value.
Stakeholders
Shareholders
Customers
Employees
Communities
Tri-State area …
Leading community bank …
9.20%
9.05%
10.09%
Peer Group Avg.
12.30%
12.21%
10.81%
SBT
5 yr. avg.
3 yr. avg.
1 yr.
Return on Average Equity
Leading community bank …
.80%
.78%
.82%
Peer Group Avg.
1.15%
1.17%
1.12%
SBT
5 yr. avg.
3 yr. avg.
1 yr.
Return on Average Assets
Professional …
We will apply our knowledge and expertise to match
customers needs and objectives to the most appropriate
solutions available. We will maintain public trust by
always acting in an ethical manner.
Product training
Continuing education
Code of ethics policy
Experience level of senior management team averages
more than 24 years per individual
Friendly and Responsive …
We will treat every customer contact as an opportunity
to exceed their expectations. We will always use
integrity, honesty, and sincerity when dealing with
both internal and external customers.
Customer service standards
Customer service scorecard
Product training
New and closed account surveys
Active Corporate Citizen …
We will serve the role of a business leader and
responsible corporate citizen through the financial
support of worthy community projects, encouraging
our directors, officers, and staff to participate in
activities which enhance the quality of life in the
communities we serve.
83% of employees and board members volunteer
their time for more than 150 community
organizations or events.
Contributed more than $750,000 since 1996
Inspire Our Staff to Grow Personally
and Professionally …
Finding and hiring the right talent
Career development opportunities
Provide management training
Encourage decision-making, responsibility,
and authority
Enhanced Shareholder Value …
Provide a continuous long-term source of
profitable growth and superior long-term economic
rewards.
Be a model in the market for prudent lending and
operating practices; by growing carefully and
selectively, and by maintaining stringent conformance
with banking regulations and policies.
Develop and preserve a superior capital position, being
one of the most financially strong banks in the market.
Investment Valuation
Enhanced Shareholder Value …
Provide a continuous long-term source of profitable
growth and superior long-term economic rewards.
Be a model in the market for prudent lending and
operating practices; by growing carefully and
selectively, and by maintaining stringent
conformance with banking regulations and
policies.
Develop and preserve a superior capital position, being
one of the most financially strong banks in the market.
Net Loans
Asset Quality
2001
2002
2003
2004
2005
Non-Performing Assets/Loans (%)
0.41
1.03
0.49
1.12
0.36
Allowance Loan Loss/Loans (%)
1.01
1.07
1.19
1.24
1.22
Allowance Loan Loss/Non-Performing
Loans (%)
246.2
104.1
242.9
110.8
339.7
Net Charge Offs/Loans (%)
0
0.16
0.07
0.03
0.05
Enhanced Shareholder Value
Provide a continuous long-term source of profitable
growth and superior long-term economic rewards.
Be a model in the market for prudent lending and
operating practices; by growing carefully and
selectively, and by maintaining stringent conformance
with banking regulations and policies.
Develop and preserve a superior capital position,
being one of the most financially strong banks in
the market.
Average Shareholder’s Equity
9.40%
9.60%
10.38%
Average Shareholder’s
Equity to Average Assets
5 yr. avg.
3 yr. avg.
1 yr.
Your company remains classified as a “well-capitalized”
bank according to regulatory standards.
2006 Objectives
Conservative and disciplined approach to
growing and managing the bank
Focus on what we can control
Grow core earnings
Increase non-interest income
Reduce non-interest expense
Enhance business banking services
Promote trust and investment services
