Salisbury Bancorp (SAL) 10-Q 5 Nov 21 2021 Q3 Quarterly report Financial data

Cover

Cover - shares	9 Months Ended
	Sep. 30, 2021	Nov. 02, 2021
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Quarterly Report	true
Document Transition Report	false
Document Period End Date	Sep. 30, 2021
Document Fiscal Period Focus	Q3
Document Fiscal Year Focus	2021
Current Fiscal Year End Date	--12-31
Entity File Number	0-24751
Entity Registrant Name	SALISBURY BANCORP, INC.
Entity Central Index Key	0001060219
Entity Tax Identification Number	06-1514263
Entity Incorporation, State or Country Code	CT
Entity Address, Address Line One	5 Bissell Street
Entity Address, City or Town	Lakeville
Entity Address, State or Province	CT
Entity Address, Postal Zip Code	06039
City Area Code	860
Local Phone Number	435-9801
Title of 12(b) Security	Common Stock, Par Value $0.10 per share
Trading Symbol	SAL
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		2,861,697

CONSOLIDATED BALANCE SHEETS (un

CONSOLIDATED BALANCE SHEETS (unaudited) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
ASSETS
Cash and due from banks	$ 7,874	$ 10,599
Interest bearing demand deposits with other banks	158,421	82,563
Total cash and cash equivalents	166,295	93,162
Interest bearing Time Deposits with Financial Institutions	750	750
Securities
Available-for-sale at fair value	175,568	98,411
CRA mutual fund at fair value	907	917
Federal Home Loan Bank of Boston stock at cost	1,504	1,713
Loans held-for-sale	639	2,735
Loans receivable, net (allowance for loan losses: $13,168 and $13,754)	1,057,451	1,027,738
Bank premises and equipment, net	20,056	20,355
Goodwill	13,815	13,815
Intangible assets (net of accumulated amortization: $5,405 and $5,207)	476	674
Accrued interest receivable	5,932	6,373
Cash surrender value of life insurance policies	25,067	21,182
Deferred taxes	2,776	2,412
Other assets	5,613	3,423
Total Assets	1,476,849	1,293,660
Deposits
Demand (non-interest bearing)	392,322	310,769
Demand (interest bearing)	220,533	218,869
Money market	328,392	278,146
Savings and other	224,286	189,776
Certificates of deposit	124,095	131,514
Total deposits	1,289,628	1,129,074
Repurchase agreements	10,450	7,116
Federal Home Loan Bank of Boston advances	8,905	12,639
Subordinated debt	24,460	9,883
Note payable	180	208
Finance lease obligations	1,631	1,673
Accrued interest and other liabilities	8,062	8,315
Total Liabilities	1,343,316	1,168,908
Shareholders' Equity
Outstanding: 2,861,697 and 2,843,292	286	284
Unearned compensation - restricted stock awards	(1,075)	(774)
Paid-in capital	46,278	45,264
Retained earnings	86,740	76,974
Accumulated other comprehensive income, net	1,304	3,004
Total Shareholders' Equity	133,533	124,752
Total Liabilities and Shareholders' Equity	$ 1,476,849	$ 1,293,660

CONSOLIDATED BALANCE SHEETS (_2

CONSOLIDATED BALANCE SHEETS (unaudited) (Parenthetical) - $ / shares	Sep. 30, 2021	Dec. 31, 2020
Statement of Financial Position [Abstract]
Common Stock, Par or Stated Value Per Share	$ 0.10	$ 0.10
Common Stock, Shares Authorized	5,000,000	5,000,000
Common Stock, Shares, Issued	2,861,697	2,843,292
Common Stock, Shares, Outstanding	2,861,697	2,843,292

CONSOLIDATED STATEMENTS OF INCO

CONSOLIDATED STATEMENTS OF INCOME (unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Interest and dividend income
Interest and fees on loans	$ 10,264	$ 10,362	$ 30,642	$ 30,662
Interest on debt securities
Taxable	486	396	1,398	1,260
Tax exempt	172	157	506	513
Other interest and dividends	79	87	174	229
Total interest and dividend income	11,001	11,002	32,720	32,664
Interest expense
Deposits	532	764	1,652	3,261
Repurchase agreements	5	6	13	16
Finance lease	33	35	102	106
Note payable	3	3	9	11
Subordinated debt	233	156	767	468
Federal Home Loan Bank of Boston advances	30	113	96	472
Total interest expense	836	1,077	2,639	4,334
Net interest and dividend income	10,165	9,925	30,081	28,330
Provision (release) for loan losses	400	686	(517)	4,198
Net interest and dividend income after provision (release) for loan losses	9,765	9,239	30,598	24,132
Non-interest income
Trust and wealth advisory	1,286	1,068	3,685	3,129
Service charges and fees	1,211	711	3,536	2,214
Mortgage banking activities, net	108	736	912	1,182
(Losses) gains on CRA mutual fund	(4)		(18)	22
Gains (losses) on securities, net	7	34	(2)	216
Bank-owned life insurance ("BOLI") income	135	719	386	986
Gain on sale of assets	73		73
Other	24	18	81	97
Total non-interest income	2,840	3,286	8,653	7,846
Non-interest expense
Salaries	3,361	3,114	9,664	8,375
Employee benefits	1,322	1,061	3,990	3,244
Premises and equipment	1,060	1,005	3,034	2,897
Write-down of assets	144		144
Data processing	632	569	1,824	1,666
Professional fees	735	635	2,090	2,020
Collections, OREO, and loan related	120	108	317	212
FDIC insurance	146	123	370	331
Marketing and community support	256	126	552	419
Amortization of intangibles	61	78	198	247
Other	447	440	1,448	1,572
Total non-interest expense	8,284	7,259	23,631	20,983
Income before income taxes	4,321	5,266	15,620	10,995
Income tax provision	868	910	3,288	1,858
Net income	3,453	4,356	12,332	9,137
Net income available to common shareholders	$ 3,400	$ 4,288	$ 12,148	$ 9,006
Basic earnings per common share	$ 1.21	$ 1.53	$ 4.32	$ 3.22
Diluted earnings per common share	1.20	1.53	4.30	3.21
Common dividends per share	$ 0.31	$ 0.29	$ 0.90	$ 0.87

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Income Statement [Abstract]
Net income	$ 3,453	$ 4,356	$ 12,332	$ 9,137
Other comprehensive income
Net unrealized (losses) gains on securities available-for-sale	(1,199)	113	(2,153)	1,912
Reclassification of net realized (gains) losses in net income (1)	(7)	(34)	2	(216)
Unrealized (losses) gains on securities available-for-sale	(1,206)	79	(2,151)	1,696
Income tax benefit (expense)	254	(17)	451	(357)
Unrealized (losses) gains on securities available-for-sale, net of tax	(952)	62	(1,700)	1,339
Comprehensive income	$ 2,501	$ 4,418	$ 10,632	$ 10,477

CONSOLIDATED STATEMENTS OF CHAN

CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY (unaudited) - USD ($) $ in Thousands	Common Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	Deferred Compensation, Share-based Payments [Member]	AOCI Attributable to Parent [Member]	Total
Balances at December 31, 2020 at Dec. 31, 2019	$ 283	$ 44,490	$ 68,320	$ (795)	$ 1,357	$ 113,655
Shares, Outstanding, Beginning Balance at Dec. 31, 2019	2,825,912
Net income for period			9,137			9,137
Other comprehensive loss, net of tax					1,339	1,339
Common stock dividends declared ($0.90 per share)			(2,462)			(2,462)
Issuance of restricted common stock	$ 1	439		(440)
Stock Issued During Period, Shares, Restricted Stock Award, Gross	12,275
Forfeiture of stock awards		(50)		50
Share-based Compensation Arrangement by Share-based Payment Award, Options, Forfeitures in Period	(1,200)
Stock based compensation-restricted stock awards		125		393		518
Balances at September 30, 2021 at Sep. 30, 2020	$ 284	45,171	74,995	(906)	2,696	122,240
Shares, Outstanding, Ending Balance at Sep. 30, 2020	2,843,292
Stock options exercised		53				53
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period	3,105
Issuance of director's restricted stock awards		114		(114)
[custom:StockIssuedDuringPeriodSharesDirectorsRestrictedStockAwards]	3,200
Balances at December 31, 2020 at Jun. 30, 2020	$ 284	45,096	71,461	(1,031)	2,634	118,444
Shares, Outstanding, Beginning Balance at Jun. 30, 2020	2,843,292
Net income for period			4,356			4,356
Other comprehensive loss, net of tax					62	62
Common stock dividends declared ($0.90 per share)			(822)			(822)
Issuance of restricted common stock		18		(18)
Stock Issued During Period, Shares, Restricted Stock Award, Gross	500
Forfeiture of stock awards		(21)		21
Share-based Compensation Arrangement by Share-based Payment Award, Options, Forfeitures in Period	(500)
Stock based compensation-restricted stock awards		78		122		200
Balances at September 30, 2021 at Sep. 30, 2020	$ 284	45,171	74,995	(906)	2,696	122,240
Shares, Outstanding, Ending Balance at Sep. 30, 2020	2,843,292
Balances at December 31, 2020 at Dec. 31, 2020	$ 284	45,264	76,974	(774)	3,004	124,752
Shares, Outstanding, Beginning Balance at Dec. 31, 2020	2,843,292
Net income for period			12,332			12,332
Other comprehensive loss, net of tax					(1,700)	(1,700)
Common stock dividends declared ($0.90 per share)			(2,566)			(2,566)
Issuance of restricted common stock	$ 1	623		(624)
Stock Issued During Period, Shares, Restricted Stock Award, Gross	13,850
Stock based compensation-restricted stock awards		235		449		684
Balances at September 30, 2021 at Sep. 30, 2021	$ 286	46,278	86,740	(1,075)	1,304	133,533
Shares, Outstanding, Ending Balance at Sep. 30, 2021	2,861,697
Stock options exercised	$ 1	30				31
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period	1,755
Issuance of director's restricted stock awards		126		(126)
[custom:StockIssuedDuringPeriodSharesDirectorsRestrictedStockAwards]	2,800,000
Balances at December 31, 2020 at Jun. 30, 2021	$ 286	46,217	84,174	(1,224)	2,256	131,709
Shares, Outstanding, Beginning Balance at Jun. 30, 2021	2,861,697
Net income for period			3,453			3,453
Other comprehensive loss, net of tax					(952)	(952)
Common stock dividends declared ($0.90 per share)			(887)			(887)
Stock based compensation-restricted stock awards		61		149		210
Balances at September 30, 2021 at Sep. 30, 2021	$ 286	$ 46,278	$ 86,740	$ (1,075)	$ 1,304	$ 133,533
Shares, Outstanding, Ending Balance at Sep. 30, 2021	2,861,697

CONSOLIDATED STATEMENTS OF CH_2

CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY (unaudited) (Parenthetical) - $ / shares	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Statement of Stockholders' Equity [Abstract]
Common Stock, Dividends, Per Share, Declared	$ 0.31	$ 0.29	$ 0.90	$ 0.87

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS (unaudited) - USD ($)	9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020
Operating Activities
Net income	$ 12,332,000	$ 9,137,000
(Accretion), amortization and depreciation
Securities	807,000	388,000
Bank premises and equipment	1,142,000	1,071,000
Core deposit intangible	198,000	247,000
Modification fees on Federal Home Loan Bank of Boston advances	17,000	64,000
Subordinated debt issuance costs	159,000	18,000
Mortgage servicing rights	167,000	84,000
Fair value adjustment on deposits		(4,000)
(Gains) and losses, including write-downs
Sales and calls of securities available-for-sale, net	2,000	(216,000)
CRA Mutual Fund	18,000	(22,000)
Sales of loans, excluding capitalized servicing rights	(653,000)	(843,000)
Loss on write-down of asset	144,000
Gain on sale of premises and equipment	(73,000)
(Release) provision for loan losses	(517,000)	4,198,000
Proceeds from loans sold	30,364,000	45,246,000
Loans originated for sale	(27,615,000)	(46,832,000)
(Decrease) increase in deferred loan origination fees and costs, net	(58,000)	2,321,000
Mortgage servicing rights originated	(276,000)	(413,000)
Decrease (increase) in interest receivable	441,000	(2,640,000)
Decrease (increase) in deferred tax benefit	87,000	(1,359,000)
(Increase) decrease in prepaid expenses	(416,000)	295,000
Increase in cash surrender value of life insurance policies	(386,000)	(986,000)
Increase in income tax receivable	(429,000)
(Decrease) increase in income tax payable	(320,000)	1,412,000
(Increase) decrease in other assets	(509,000)	42,000
Decrease in accrued expenses	(290,000)	(584,000)
(Decrease) increase in interest payable	(9,000)	132,000
Increase (decrease) in other liabilities	366,000	(144,000)
Stock based compensation-restricted stock awards	684,000	518,000
Net cash provided by operating activities	15,378,000	11,130,000
Investing Activities
Net redemption of Federal Home Loan Bank of Boston stock	209,000	84,000
Purchases of securities available-for-sale	(107,811,000)	(27,802,000)
Proceeds from sales of securities available-for-sale	3,311,000	12,526,000
Proceeds from calls of securities available-for-sale	8,500,000	655,000
Proceeds from principal payments and maturities of securities available-for-sale	15,883,000	12,226,000
Reinvestment of CRA Mutual Fund	(8,000)	(12,000)
Loan originations and principal collections, net	(29,323,000)	(110,743,000)
Recoveries of loans previously charged off	185,000	44,000
Proceeds from sale/ disposal of premises and equipment	248,000	314,000
Capital expenditures	(1,889,000)	(2,384,000)
Purchase of life insurance policies	(3,500,000)
Proceeds from life insurance policy		3,994,000
Net cash used by investing activities	(114,195,000)	(111,098,000)
Financing Activities
Increase in deposit transaction accounts, net	167,973,000	175,508,000
(Decrease) increase in time deposits, net	(7,419,000)	131,000
Increase in securities sold under agreements to repurchase, net	3,334,000	2,355,000
Federal Home Loan Bank of Boston long term advances		46,001,000
Federal Home Loan Bank of Boston long-term maturities/payments		(21,000,000)
Federal Home Loan Bank of Boston short-term advances, net change		(30,000,000)
Principal payments on Amortizing Federal Home Loan Bank of Boston advance	(3,751,000)	(2,072,000)
Issuance of Sub Debt, net of issuance costs	24,418,000
Repayment of Sub Debt	(10,000,000)
Principal payments on note payable	(28,000)	(28,000)
Decrease in finance lease obligation	(42,000)	(62,000)
Stock options exercised	31,000	53,000
Common stock dividends paid	(2,566,000)	(2,462,000)
Net cash provided by financing activities	171,950,000	168,424,000
Net increase in cash and cash equivalents	73,133,000	68,456,000
Cash and cash equivalents, beginning of period	93,162,000	26,885,000
Cash and cash equivalents, end of period	166,295,000	95,341,000
Supplemental Cash Flow Information:
Cash paid for interest	2,472,000	4,124,000
Cash paid for income taxes	3,948,000	1,805,000
Non cash investing and financing activities:
Transfers from Fixed Assets to Other Assets	$ 727,000

NOTE 1 - BASIS OF PRESENTATION

NOTE 1 - BASIS OF PRESENTATION	9 Months Ended
	Sep. 30, 2021
Accounting Policies [Abstract]
NOTE 1 - BASIS OF PRESENTATION	NOTE 1 - BASIS OF PRESENTATION The interim (unaudited) consolidated financial statements of Salisbury Bancorp, Inc. ("Salisbury") include those of Salisbury and its wholly owned subsidiary, Salisbury Bank and Trust Company (the "Bank"). In the opinion of management, the interim unaudited consolidated financial statements include all adjustments (consisting of normal recurring adjustments) necessary to present fairly the consolidated financial position of Salisbury and the consolidated statements of income, comprehensive income, changes in shareholders' equity and cash flows for the interim periods presented. The financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (GAAP). In preparing the financial statements, management is required to make extensive use of estimates and assumptions that affect the reported amounts of assets and liabilities as of the date of the balance sheet, and revenues and expenses for the period. Actual results could differ significantly from those estimates. Material estimates that are particularly susceptible to significant change in the near term relate to the determination of the allowance for loan losses, other-than-temporary impairment of securities and impairment of goodwill and intangibles. Certain financial information, which is normally included in financial statements prepared in accordance with generally accepted accounting principles, but which is not required for interim reporting purposes, has been condensed or omitted. Operating results for the interim period ended September 30, 2021 are not necessarily indicative of the results that may be expected for the year ending December 31, 2021. The accompanying condensed financial statements should be read in conjunction with the financial statements and notes thereto included in Salisbury's 2020 Annual Report on Form 10-K for the year ended December 31, 2020. The allowance for loan losses is a significant accounting policy and is presented in the Notes to Consolidated Financial Statements and in Management's Discussion and Analysis, which provides information on how significant assets are valued in the financial statements and how those values are determined. Based on the valuation techniques used and the sensitivity of financial statement amounts to the methods, assumptions and estimates underlying those amounts, management has identified the determination of the allowance for loan losses to be the accounting area that requires the most subjective judgments, and as such could be most subject to revision as new information becomes available. Recent Accounting Pronouncements In June 2016, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2016-13, "Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments," which adds a new Topic 326 to the Codification and removes the thresholds that companies apply to measure credit losses on financial instruments measured at amortized cost, such as loans, receivables, and held-to-maturity debt securities. Under current U.S. GAAP, companies generally recognize credit losses when it is probable that the loss has been incurred. The revised guidance will remove all recognition thresholds and will require companies to recognize an allowance for credit losses for the difference between the amortized cost basis of a financial instrument and the amount of amortized cost that the company expects to collect over the instrument's contractual life. ASU 2016-13 also amends the credit loss measurement guidance for available-for-sale debt securities and beneficial interests in securitized financial assets. In April 2019, the FASB issued ASU 2019-04 which clarified the treatment of accrued interest when measuring credit losses. Entities may: (1) measure the allowance for credit losses on accrued interest receivable balances separately from other components of the amortized cost basis of associated financial assets; (2) make various accounting policy elections regarding the treatment of accrued interest receivable; or (3) elect a practical expedient to disclose separately the total amount of accrued interest included in the amortized cost basis as a single balance to meet certain disclosure requirements. ASU 2019-04 also clarified that expected recoveries of amounts previously written off and expected to be written off should be included in the valuation account and should not exceed the aggregate of amounts previously written off and expected to be written off by the entity. In addition, for collateral dependent financial assets, the amendments clarify that an allowance for credit losses that is added to the amortized cost basis of the financial asset(s) should not exceed amounts previously written off. In November 2019, the FASB issued ASU 2019-10, which delayed the effective date of ASU 2016-13 to fiscal years beginning after December 15, 2022 for smaller reporting companies, although early adoption is permitted. Salisbury meets the definition of a smaller reporting company. In November 2019, the FASB issued ASU 2019-11, "Codification Improvements to Topic 326, Financial Instruments - Credit Losses" which clarified or addressed specific issues about certain aspects of the amendments in ASU 2016-13. The amendments in ASU 2019-11 clarified the following: (1) The allowance for credit losses (ACL) for purchased financial assets with credit deterioration should include expected recoveries of amounts previously written off and expected to be written off by the entity and should not exceed the aggregate of amounts of the amortized cost basis previously written off and expected to be written off by an entity. In addition, the amendments clarify that when a method other than a discounted cash flow method is used to estimate expected credit losses, expected recoveries should not include any amounts that result in an acceleration of the noncredit discount. An entity may include increases in expected cashflows after acquisition; (2) Transition relief will be provided by permitting entities an accounting policy election to adjust the effective interest rate on existing troubled debt restructurings using prepayment assumptions on the date of adoption of Topic 326 rather than the prepayment assumptions in effect immediately before the restructuring; (3) Disclosure relief will be extended for accrued interest receivable balances to additional relevant disclosures involving amortized cost basis; (4) An entity should assess whether it reasonably expects the borrower will be able to continually replenish collateral securing the financial asset to apply the practical expedient. The amendments clarify that an entity applying the practical expedient should estimate expected credit losses for any difference between the amount of the amortized cost basis that is greater than the fair value of the collateral securing the financial asset (that is, the unsecured portion of the amortized cost basis). An entity may determine that the expectation of nonpayment for the amount of the amortized cost basis equal to the fair value of the collateral securing the financial asset is zero. Upon adoption, Salisbury will apply the standards' provisions as a cumulative effect adjustment to retained earnings as of the first reporting period in which the guidance is effective. Salisbury anticipates that the adoption of ASU 2016-13 and related updates will impact the consolidated financial statements as it relates to the balance in the allowance for loan losses. Salisbury has engaged a third-party software vendor to model the allowance for loan losses in conformance with this ASU. Salisbury will continue to refine this model and assess the impact to its consolidated financial statements. The Bank is working towards the completion of its ACL methodology. To estimate the ACL for loans and off-balance sheet credit exposures, such as unfunded loan commitments, the Bank will utilize a discounted cash flow model that contains additional assumptions to calculate credit losses over the estimated life of financial assets and off-balance sheet credit exposures and will include the impact of forecasted economic conditions. The estimate is expected to include a one-year reasonable and supportable forecast period and thereafter a one-year reversion period to the historical mean of its macroeconomic assumption. The estimate will also include qualitative factors that may not be reflected in quantitatively derived results to ensure that the ACL reflects a reasonable estimate of current expected credit losses. Based on the credit quality of Salisbury's existing available for sale debt securities portfolio, which primarily consists of obligations of U.S. government agency and U.S. government-sponsored enterprise securities, including mortgage-backed securities, Salisbury does not expect the adoption of ASU 2016-13, as it relates to debt securities, to be significant. For available for sale debt securities with unrealized losses, credit losses will be recognized as an allowance rather than a reduction in the amortized cost of the securities. As a result, improvements to estimated credit losses will be recognized immediately in earnings rather than as interest income over time. The Bank is currently refining various ACL assumptions and running parallel calculations on a monthly basis. Salisbury expects to complete independent model validation and to finalize its documentation of ACL processes and controls by the first quarter of 2023. In December 2019, the FASB issued ASU 2019-12, "Simplifying the Accounting for Income Taxes." The amendments in this Update simplify the accounting for income taxes by removing the following exceptions:1. Exception to the incremental approach for intra-period tax allocation when there is a loss from continuing operations and income or a gain from other items (for example, discontinued operations or other comprehensive income) 2. Exception to the requirement to recognize a deferred tax liability for equity method investments when a foreign subsidiary becomes an equity method investment 3. Exception to the ability not to recognize a deferred tax liability for a foreign subsidiary when a foreign equity method investment becomes a subsidiary 4. Exception to the general methodology for calculating income taxes in an interim period when a year-to-date loss exceeds the anticipated loss for the year. The amendments in this Update also simplify the accounting for income taxes by doing the following: 1. Requiring that an entity recognize a franchise tax (or similar tax) that is partially based on income as an income-based tax and account for any incremental amount incurred as a non-income-based tax. 2. Requiring that an entity evaluate when a step-up in the tax basis of goodwill should be considered part of the business combination in which the book goodwill was originally recognized and when it should be considered a separate transaction. 3. Specifying that an entity is not required to allocate the consolidated amount of current and deferred tax expense to a legal entity that is not subject to tax in its separate financial statements. However, an entity may elect to do so (on an entity-by-entity basis) for a legal entity that is both not subject to tax and disregarded by the taxing authority. 4. Requiring that an entity reflect the effect of an enacted change in tax laws or rates in the annual effective tax rate computation in the interim period that includes the enactment date. 5. Making minor Codification improvements for income taxes related to employee stock ownership plans and investments in qualified affordable housing projects accounted for using the equity method. ASU 2019-12 is effective for fiscal years beginning after December 15, 2020 and interim periods within those fiscal years. On January 1, 2021, Salisbury adopted the new standard, which did not have a material impact on Salisbury's Consolidated Financial Statements. In October 2020, the FASB issued ASU 2020-08, "Codification Improvements to Subtopic 310-20, Receivables - Nonrefundable Fees and Other Costs. Under current generally accepted accounting principles, entities amortize the premium on purchased callable debt securities to the earliest call date. If a callable debt security contains additional future call dates, entities should consider whether the amortized cost basis exceeded the amount repayable by the issuer at the next call date. If so, the excess or premium should be amortized to the next call date. This ASU clarifies that the next call date is the first date when a call option at a specified price becomes exercisable. Once that date has passed, the next call date is when the next call option at a specified price becomes exercisable, if applicable. If there is no remaining premium or if there are no further call dates, the entity shall reset the effective yield using the payment terms of the debt security. ASU 2020-08 is effective for interim and annual reporting periods beginning after December 15, 2020. On January 1, 2021, Salisbury adopted the new standard, which did not have a material impact on Salisbury's Consolidated Financial Statements. In January 2021, the FASB issued ASU 2021-01, "Reference Rate Reform (Topic 848)." In response to the risk of cessation of the London Interbank Offered Rate (LIBOR) as a reference rate, this ASU clarifies the scope of Topic 848 so that derivatives affected by this transition are explicitly eligible for certain optional expedients and exceptions in Topic 848. An entity may elect to apply the amendments in this ASU on a full retrospective basis as of any date from the beginning interim period that includes or is subsequent to March 12, 2020 or on a prospective basis to new modifications from any date within an interim period that includes or is subsequent to the date of the issuance of a final Update, up to the date that the financial statements are available to be issued. Salisbury is currently evaluating the impact of the transition from LIBOR to a new reference rate.

NOTE 2 - SECURITIES

NOTE 2 - SECURITIES	9 Months Ended
	Sep. 30, 2021
Investments, Debt and Equity Securities [Abstract]
NOTE 2 - SECURITIES	NOTE 2 - SECURITIES The composition of securities (in thousands) Amortized cost basis Gross un-realized gains Gross un-realized losses Fair value September 30, 2021 Available-for-sale U.S. Treasury $ 10,397 $ - $ 95 $ 10,302 U.S. Government Agency notes 32,093 280 99 32,274 Municipal bonds 38,525 1,331 251 39,605 Mortgage-backed securities: U.S. Government agencies and U.S. Government- sponsored enterprises 67,059 818 698 67,179 Collateralized mortgage obligations: U.S. Government agencies 14,844 208 41 15,011 Corporate bonds 11,000 197 - 11,197 Total securities available-for-sale $ 173,918 $ 2,834 $ 1,184 $ 175,568 CRA mutual fund $ 907 Non-marketable securities Federal Home Loan Bank of Boston stock $ 1,504 $ - $ - $ 1,504 (in thousands) Amortized cost basis Gross un-realized gains Gross un-realized losses Fair value December 31, 2020 Available-for-sale U.S. Government Agency notes $ 7,735 $ 153 $ 37 $ 7,851 Municipal bonds 25,831 1,787 1 27,617 Mortgage-backed securities: U.S. Government agencies and U.S. Government - sponsored enterprises 35,240 1,376 43 36,573 Collateralized mortgage obligations: U.S. Government agencies 17,054 400 - 17,454 Corporate bonds 8,750 166 - 8,916 Total securities available-for-sale $ 94,610 $ 3,882 $ 81 $ 98,411 CRA mutual fund $ 917 Non-marketable securities Federal Home Loan Bank of Boston stock $ 1,713 $ - $ - $ 1,713 In third quarter 2021, $ 7.0 7 1.4 3.3 2 0.4 1.9 34 7 12.5 216 45 The following table summarizes the aggregate fair value and gross unrealized loss of securities that have been in a continuous unrealized loss position Less than 12 Months 12 Months or Longer Total September 30, 2021 (in thousands) Fair value Unrealized losses Fair value Unrealized losses Fair value Unrealized losses Available-for-sale U.S. Treasury $ 10,302 $ 95 $ - $ - $ 10,302 $ 95 U.S. Government Agency notes 20,550 80 1,125 19 21,675 99 Municipal bonds 13,980 251 - - 13,980 251 Mortgage- backed securities: U.S. Government agencies and U.S. Government - sponsored enterprises 42,471 647 1,398 26 43,869 698 Collateralized mortgage obligations 4,625 66 - - 4,625 41 Corporate bonds - - - - - - Total temporarily impaired securities $ 91,928 $ 1,139 $ 2,523 $ 45 $ 94,451 $ 1,184 Less than 12 Months 12 Months or Longer Total December 31, 2020 (in thousands) Fair value Unrealized losses Fair value Unrealized losses Fair value Unrealized losses Available-for-sale U.S. Government Agency notes $ 2,553 $ 36 $ 20 $ 1 $ 2,573 $ 37 Municipal bonds 558 1 - - 558 1 Mortgage- backed securities: U.S. Government agencies and U.S. Government - sponsored enterprises 3,761 42 45 1 3,806 43 Total temporarily impaired securities $ 6,872 $ 79 $ 65 $ 2 $ 6,937 $ 81 The table below presents the amortized cost, fair value and tax equivalent yield of securities, by maturity . Debt securities issued by U.S. Government agencies (SBA securities), MBS, and CMOS are disclosed separately in the table below as these securities may prepay prior to the scheduled contractual maturity dates. September 30, 2021 (in thousands) Maturity Amortized cost Fair value Yield (1) U.S. Treasury After 5 year but within 10 years $ 10,397 $ 10,302 1.15 % U.S. Government Agency notes After 5 year but within 10 years 15,902 15,848 1.23 Total 26,299 26,150 1.20 Municipal bonds After 5 year but within 10 years 3,594 3,820 2.80 After 10 years 34,931 35,785 2.61 Total 38,525 39,605 2.63 Mortgage-backed securities, Collateralized mortgage obligations, Securities not due at a single maturity date 98,094 98,616 1.64 Corporate bonds After 5 years but within 10 years 11,000 11,197 4.61 Securities available-for-sale $ 173,918 $ 175,568 2.04 % (1) Salisbury evaluates debt securities for OTTI where the fair value of a security is less than its amortized cost basis at the balance sheet date. As part of this process, Salisbury considers whether it has the intent to sell each debt security and whether it is more likely than not that it will be required to sell the security before its anticipated recovery. If either of these conditions is met, Salisbury recognizes an OTTI charge to earnings equal to the entire difference between the security's amortized cost basis and its fair value at the balance sheet date. For securities that meet neither of these conditions, an analysis is performed to determine if any of these securities are at risk for OTTI. The following summarizes, by security type, the basis for evaluating if the applicable securities were OTTI at September 30, 2021. U.S. Treasury notes: The contractual cash flows are guaranteed by the U.S. government. Four securities had unrealized losses at September 30, 2021, which approximated 0.91% of their amortized cost. Changes in fair values are a function of changes in investment spreads and interest rate movements and not changes in credit quality since time of purchase. Management expects to recover the entire amortized cost basis of these securities. Furthermore, Salisbury evaluates these securities for strategic fit and may reduce its position in these securities, although it is not more likely than not that Salisbury will be required to sell these securities before recovery of their cost basis, which may be maturity, and does not intend to sell these securities. Management evaluated the impairment status of these debt securities, and concluded that the gross unrealized losses were temporary in nature. Therefore, management does not consider these investments to be other-than temporarily impaired at September 30, 2021. U.S. Government Agency notes: The contractual cash flows are guaranteed by the U.S. government. Nineteen securities had unrealized losses at September 30, 2021, which approximated 0.45% of their amortized cost. Changes in fair values are a function of changes in investment spreads and interest rate movements and not changes in credit quality since time of purchase. Management expects to recover the entire amortized cost basis of these securities. Furthermore, Salisbury evaluates these securities for strategic fit and may reduce its position in these securities, although it is not more likely than not that Salisbury will be required to sell these securities before recovery of their cost basis, which may be maturity, and does not intend to sell these securities. Management evaluated the impairment status of these debt securities, and concluded that the gross unrealized losses were temporary in nature. Therefore, management does not consider these investments to be other-than temporarily impaired at September 30, 2021. Municipal bonds: Salisbury performed a detailed analysis of the municipal bond portfolio. Sixteen securities had unrealized losses at September 30, 2021, which approximated 1.77% of their amortized cost. Management believes the unrealized loss position is attributable to interest rate and spread movements and not changes in credit quality. Management expects to recover the entire amortized cost basis of these securities. Furthermore, Salisbury evaluates these securities for strategic fit and may reduce its position in these securities, although it is not more likely than not that Salisbury will be required to sell these securities before recovery of their cost basis, which may be maturity, and does not intend to sell these securities. Management evaluated the impairment status of these debt securities, and concluded that the gross unrealized losses were temporary in nature. Therefore, management does not consider these investments to be other-than temporarily impaired at September 30, 2021. U.S. Government agency and U.S. Government-sponsored enterprise securities and collateralized mortgage obligations: The contractual cash flows are guaranteed by U.S. government agencies and U.S. government-sponsored enterprises. Forty nine securities had unrealized losses at September 30, 2021, which approximated 1.51% of their amortized cost. Changes in fair values are a function of changes in investment spreads and interest rate movements and not changes in credit quality. Management expects to recover the entire amortized cost basis of these securities. Furthermore, Salisbury evaluates these securities for strategic fit and may reduce its position in these securities, although it is not more likely than not that Salisbury will be required to sell these securities before recovery of their cost basis, which may be maturity, and does not intend to sell these securities. Therefore, management does not consider these investments to be other-than-temporarily impaired at September 30, 2021. The Federal Home Loan Bank of Boston (FHLBB) is a cooperative that provides services, including funding in the form of advances, to its member banking institutions. As a requirement of membership, the Bank must own a minimum amount of FHLBB stock, calculated periodically based primarily on its level of borrowings from the FHLBB. No market exists for shares of the FHLBB and therefore, they are carried at par value. FHLBB stock may be redeemed at par value five years following termination of FHLBB membership, subject to limitations which may be imposed by the FHLBB or its regulator, the Federal Housing Finance Board, to maintain capital adequacy of the FHLBB. While the Bank currently has no intentions to terminate its FHLBB membership, the ability to redeem its investment in FHLBB stock would be subject to the conditions imposed by the FHLBB. Based on the capital adequacy and the liquidity position of the FHLBB, management believes there is no impairment related to the carrying amount of the Bank's FHLBB stock as of September 30, 2021. Deterioration of the FHLBB's capital levels may require the Bank to deem its restricted investment in FHLBB stock to be OTTI. If evidence of impairment exists in the future, the FHLBB stock would reflect fair value using either observable or unobservable inputs. The Bank will continue to monitor its investment in FHLBB stock.

NOTE 3 - LOANS

NOTE 3 - LOANS	9 Months Ended
	Sep. 30, 2021
Receivables [Abstract]
NOTE 3 - LOANS	NOTE 3 - LOANS The composition of loans receivable and loans held-for-sale (In thousands) September 30, 2021 December 31, 2020 Residential 1-4 family $ 368,801 $ 352,001 Residential 5+ multifamily 46,237 37,058 Construction of residential 1-4 family 15,429 8,814 Home equity lines of credit 24,001 27,804 Residential real estate 454,468 425,677 Commercial 314,820 310,841 Construction of commercial 47,145 31,722 Commercial real estate 361,965 342,563 Farm land 3,409 3,198 Vacant land 13,698 14,079 Real estate secured 833,540 785,517 Commercial and industrial ex PPP Loans 167,528 140,516 PPP Loans 40,652 86,632 Total Commercial and industrial 208,180 227,148 Municipal 18,061 21,512 Consumer 11,152 7,687 Loans receivable, gross 1,070,933 1,041,864 Deferred loan origination fees, net (314 ) (372 ) Allowance for loan losses (13,168 ) (13,754 ) Loans receivable, net $ 1,057,451 $ 1,027,738 Loans held-for-sale Residential 1-4 family $ 639 $ 2,735 Salisbury has entered into loan participation agreements with other banks and transferred a portion of its originated loans to the participating banks. Transferred amounts are accounted for as sales and excluded from Salisbury's loans receivable. Salisbury and its participating lenders share ratably in any gains or losses that may result from a borrower's lack of compliance with contractual terms of the loan. Salisbury services the loans on behalf of the participating lenders and, as such, collects cash payments from the borrowers, remits payments (net of servicing fees) to participating lenders and disburses required escrow funds to relevant parties. Salisbury also has entered into loan participation agreements with other banks and purchased a portion of the other banks' originated loans. Purchased amounts are accounted for as loans without recourse to the originating bank. Salisbury and its originating lenders share ratably in any gains or losses that may result from a borrower's lack of compliance with contractual terms of the loan. The originating banks service the loans on behalf of the participating lenders and, as such, collect cash payments from the borrowers, remit payments (net of servicing fees) to participating lenders and disburse required escrow funds to relevant parties. At September 30, 2021 and December 31, 2020, Salisbury serviced commercial loans for other banks under loan participation agreements totaling $ 79.6 65.3 Concentrations of Credit Risk Salisbury's loans consist primarily of residential and commercial real estate loans located principally in Litchfield County, Connecticut; Dutchess, Orange and Ulster Counties, New York; and Berkshire County, Massachusetts, which constitute Salisbury's service area. Salisbury offers a broad range of loan and credit facilities to borrowers in its service area, including residential mortgage loans, commercial real estate loans, construction loans, working capital loans, equipment loans, and a variety of consumer loans, including home equity lines of credit, installment loans and collateral loans. All residential and commercial mortgage loans are collateralized by first or second mortgages on real estate. The ability of single family residential and consumer borrowers to honor their repayment commitments is generally dependent on the level of overall economic activity within the market area and real estate values. The ability of commercial borrowers to honor their repayment commitments is dependent on the general economy as well as the health of the real estate economic sector in Salisbury's market area. Salisbury's commercial loan portfolio is comprised of loans to diverse industries, several of which may experience operating challenges due to the COVID-19 virus pandemic ("virus"). Approximately 41% of the Bank's commercial loan portfolio are to entities who operate rental properties, which include commercial strip malls, smaller rental units as well as multi-unit dwellings. Approximately 13% of the Bank's commercial loans are to entities in the hospitality industry, which includes hotels, bed & breakfast inns and restaurants. Approximately 9% of the Bank's commercial loans are to educational institutions and approximately 6% of Salisbury's commercial loans are to entertainment and recreation related businesses, which include camps and amusement parks. Salisbury's commercial real estate exposure as a percentage of the Bank's total risk-based capital, which represents Tier 1 plus Tier 2 capital, was approximately 173% as of September 30, 2021 and 182% at December 31, 2020 compared to the regulatory monitoring guideline of 300%. Salisbury's commercial loan exposure is mitigated by a variety of factors including the personal liquidity of the borrower, real estate and/or non-real estate collateral, U.S. Department of Agriculture or Small Business Administration ("SBA") guarantees, loan payment deferrals and economic stimulus loans from the U.S. government as a result of the virus, and other factors. Due to the COVID-19 pandemic, the Bank may experience higher loan payment delinquencies and higher loan charge-offs, which could warrant increased provisions for loan losses. In 2021 Salisbury processed 472 48.2 For the three and nine months ended September 30, 2021, Salisbury recorded interest income of $ 0.1 0.6 0.7 2.3 3.1 2.0 0.6 40.7 86.6 2.9 37.8 Credit Quality Salisbury uses credit risk ratings as part of its determination of the allowance for loan losses. Credit risk ratings categorize loans by common financial and structural characteristics that measure the credit strength of a borrower. The rating model has eight risk rating grades, with each grade corresponding to a progressively greater risk of default. Grades 1 through 4 are pass ratings and 5 through 8 are criticized as defined by the regulatory agencies. Risk ratings are assigned to differentiate risk within the portfolio and are reviewed on an ongoing basis and revised, if needed, to reflect changes in the borrowers' current financial position and outlook, risk profiles and the related collateral and structural positions. Loans rated as "special mention" (5) possess credit deficiencies or potential weaknesses deserving management's close attention that if left uncorrected may result in deterioration of the repayment prospects for the loans at some future date. Loans rated as "substandard" (6) are loans where the Bank's position is clearly not protected adequately by borrower current net worth or payment capacity. These loans have well defined weaknesses based on objective evidence and include loans where future losses to the Bank may result if deficiencies are not corrected, and loans where the primary source of repayment such as income is diminished and the Bank must rely on sale of collateral or other secondary sources of collection. Loans rated "doubtful" (7) have the same weaknesses as substandard loans with the added characteristic that the weakness makes collection or liquidation in full, given current facts, conditions, and values, to be highly improbable. The possibility of loss is high, but due to certain important and reasonably specific pending factors, which may work to strengthen the loan, its reclassification as an estimated loss is deferred until its exact status can be determined. Loans classified as "loss" (8) are considered uncollectible and of such little value that continuance as Bank assets is unwarranted. This classification does not mean that the loan has absolutely no recovery or salvage value, but rather, it is not practical or desirable to defer writing off this loan even though partial recovery may be made in the future. Management actively reviews and tests its credit risk ratings against actual experience and engages an independent third-party to annually validate its assignment of credit risk ratings. In addition, the Bank's loan portfolio is examined periodically by its regulatory agencies, the Federal Deposit Insurance Corporation ("FDIC") and the Connecticut Department of Banking ("CTDOB"). The composition of loans receivable by risk rating grade (in thousands) Pass Special mention Substandard Doubtful Loss Total September 30, 2021 Residential 1-4 family $ 361,116 $ 4,139 $ 3,546 $ - $ - $ 368,801 Residential 5+ multifamily 44,484 83 1,670 - - 46,237 Construction of residential 1-4 family 15,301 128 - - - 15,429 Home equity lines of credit 23,706 209 86 - - 24,001 Residential real estate 444,607 4,559 5,302 - - 454,468 Commercial 274,004 5,654 35,162 - - 314,820 Construction of commercial 47,145 - - - - 47,145 Commercial real estate 321,149 5,654 35,162 - - 361,965 Farm land 1,610 1,223 576 - - 3,409 Vacant land 13,621 42 35 - - 13,698 Real estate secured 780,987 11,478 41,075 - - 833,540 Commercial and industrial 205,140 500 2,540 - - 208,180 Municipal 18,061 - - - - 18,061 Consumer 11,132 1 19 - - 11,152 Loans receivable, gross $ 1,015,320 $ 11,979 $ 43,634 $ - $ - $ 1,070,933 (in thousands) Pass Special mention Substandard Doubtful Loss Total December 31, 2020 Residential 1-4 family $ 342,243 $ 5,615 $ 4,143 $ - $ - $ 352,001 Residential 5+ multifamily 35,272 90 1,696 - - 37,058 Construction of residential 1-4 family 8,814 - - - - 8,814 Home equity lines of credit 27,393 257 154 - - 27,804 Residential real estate 413,722 5,962 5,993 - - 425,677 Commercial 276,866 15,565 18,410 - - 310,841 Construction of commercial 31,493 - 229 - - 31,722 Commercial real estate 308,359 15,565 18,639 - - 342,563 Farm land 1,612 - 1,586 - - 3,198 Vacant land 13,992 50 37 - - 14,079 Real estate secured 737,685 21,577 26,255 - - 785,517 Commercial and industrial 224,906 1,271 632 339 - 227,148 Municipal 21,512 - - - - 21,512 Consumer 7,660 - 27 - - 7,687 Loans receivable, gross $ 991,763 $ 22,848 $ 26,914 $ 339 $ - $ 1,041,864 The composition of loans receivable by delinquency status Past due 180 30 Accruing (in thousands) days days 90 days 30-59 60-89 90-179 and and and Non- Current days days days over over over accrual September 30, 2021 Residential 1-4 family $ 368,034 $ 167 $ 84 $ 442 $ 74 $ 767 $ - $ 1,235 Residential 5+ multifamily 45,376 - - - 861 861 - 861 Construction of residential 1-4 family 15,429 - - - - - - - Home equity lines of credit 23,831 105 14 - 51 170 - 86 Residential real estate 452,670 272 98 442 986 1,798 - 2,182 Commercial 314,342 200 24 - 254 478 - 1,954 Construction of commercial 47,145 - - - - - - - Commercial real estate 361,487 200 24 - 254 478 - 1,954 Farm land 3,279 130 - - - 130 - 576 Vacant land 13,663 35 - - - 35 - 35 Real estate secured 831,099 637 122 442 1,240 2,441 - 4,747 Commercial and industrial 207,792 289 53 - 46 388 11 243 Municipal 18,061 - - - - - - - Consumer 11,108 4 40 - - 44 - - Loans receivable, gross $ 1,068,060 $ 930 $ 215 $ 442 $ 1,286 $ 2,873 $ 11 $ 4,990 Past due 180 30 Accruing (in thousands) days days 90 days 30-59 60-89 90-179 and and and Non- Current days days days over over over accrual December 31, 2020 Residential 1-4 family $ 349,382 $ 1,419 $ 308 $ 673 $ 219 $ 2,619 $ - $ 1,508 Residential 5+ multifamily 36,197 - - - 861 861 - 861 Construction of residential 1-4 family 8,814 - - - - - - - Home equity lines of credit 27,522 157 9 - 116 282 - 154 Residential real estate 421,915 1,576 317 673 1,196 3,762 - 2,523 Commercial 307,927 1,855 530 95 434 2,914 - 2,544 Construction of commercial 31,722 - - - - - - - Commercial real estate 339,649 1,855 530 95 434 2,914 - 2,544 Farm land 2,594 154 450 - - 604 - 158 Vacant land 14,079 - - - - - - 37 Real estate secured 778,237 3,585 1,297 768 1,630 7,280 - 5,262 Commercial and industrial 224,496 2,148 457 1 46 2,652 12 374 Municipal 21,512 - - - - - - - Consumer 7,677 10 - - - 10 - - Loans receivable, gross $ 1,031,922 $ 5,743 $ 1,754 $ 769 $ 1,676 $ 9,942 $ 12 $ 5,636 Troubled Debt Restructurings (TDRs) For the three and nine month periods ended September 30, 2021, one residential loan with a loan balance of $ 74 180 180 133 Allowance for Loan Losses Changes in the allowance for loan losses Three months ended September 30, 2021 Three months ended September 30, 2020 (in thousands) Beginning balance Provision (Benefit) Charge- offs Reco- veries Ending balance Beginning balance Provision (Benefit) Charge- offs Reco- veries Ending balance Residential 1-4 family $ 2,377 $ 393 $ (35 ) $ 5 $ 2,740 $ 3,048 $ 69 $ (11 ) $ 1 $ 3,107 Residential 5+ multifamily 545 156 - - 701 589 14 - - 603 Construction of residential 1-4 family 95 41 - - 136 87 10 - - 97 Home equity lines of credit 190 26 (20 ) - 196 283 (8 ) - - 275 Residential real estate 3,207 616 (55 ) 5 3,773 4,007 85 (11 ) 1 4,082 Commercial 6,212 (165 ) - 119 6,166 5,160 317 (14 ) 1 5,464 Construction of commercial 668 118 - - 786 205 195 - - 400 Commercial real estate 6,880 (47 ) - 119 6,952 5,365 512 (14 ) 1 5,864 Farm land 32 (1 ) - - 31 60 5 - - 65 Vacant land 87 (1 ) - 1 87 182 (11 ) - - 171 Real estate secured 10,206 567 (55 ) 125 10,843 9,614 591 (25 ) 2 10,182 Commercial and industrial 1,256 73 - 3 1,332 1,515 (44 ) - 1 1,472 Municipal 32 (1 ) - - 31 36 5 - - 41 Consumer 66 62 (19 ) 6 115 74 40 (41 ) 7 80 Unallocated 1,148 (301 ) - - 847 1,132 94 - - 1,226 Totals $ 12,708 $ 400 $ (74 ) $ 134 $ 13,168 $ 12,371 $ 686 $ (66 ) $ 10 $ 13,001 Nine months ended September 30, 2021 Nine months ended September 30, 2020 (in thousands) Beginning balance Provision (Benefit) Charge- offs Reco- veries Ending balance Beginning balance Provision (Benefit) Charge- offs Reco- veries Ending balance Residential 1-4 family $ 2,646 $ 129 $ (44 ) $ 9 $ 2,740 $ 2,393 $ 716 $ (11 ) $ 9 $ 3,107 Residential 5+ multifamily 686 15 - - 701 446 199 (42 ) - 603 Construction of residential 1-4 family 65 71 - - 136 75 22 - - 97 Home equity lines of credit 252 (36 ) (20 ) - 196 197 78 - - 275 Residential real estate 3,649 179 (64 ) 9 3,773 3,111 1,015 (53 ) 9 4,082 Commercial 6,546 (509 ) (7 ) 136 6,166 3,742 1,719 (17 ) 20 5,464 Construction of commercial 596 208 (18 ) - 786 104 296 - - 400 Commercial real estate 7,142 (301 ) (25 ) 136 6,952 3,846 2,015 (17 ) 20 5,864 Farm land 59 ( ) - - 31 47 18 - - 65 Vacant land 180 (94 ) - 1 87 71 100 - - 171 Real estate secured 11,030 (244 ) (89 ) 146 10,843 7,075 3,148 (70 ) 29 10,182 Commercial and industrial 1,397 17 (131 ) 49 1,332 1,145 326 - 1 1,472 Municipal 43 (12 ) - - 31 46 (5 ) - - 41 Consumer 77 82 (34 ) (10 ) 115 60 72 (66 ) 14 80 Unallocated 1,207 (360 ) - - 847 569 657 - - 1,226 Totals $ 13,754 $ (517 ) $ (254 ) $ 185 $ 13,168 $ 8,895 $ 4,198 $ (136 ) $ 44 $ 13,001 The composition of loans receivable and the allowance for loan losses (in thousands) Collectively evaluated Individually evaluated Total portfolio Loans Allowance Loans Allowance Loans Allowance September 30, 2021 Residential 1-4 family $ 365,721 $ 2,737 $ 3,080 $ 3 $ 368,801 $ 2,740 Residential 5+ multifamily 45,283 701 954 - 46,237 701 Construction of residential 1-4 family 15,429 136 - - 15,429 136 Home equity lines of credit 23,915 196 86 - 24,001 196 Residential real estate 450,348 3,770 4,120 3 454,468 3,773 Commercial 310,947 6,123 3,873 43 314,820 6,166 Construction of commercial 47,145 786 - - 47,145 786 Commercial real estate 358,092 6,909 3,873 43 361,965 6,952 Farm land 2,833 31 576 - 3,409 31 Vacant land 13,663 87 35 - 13,698 87 Real estate secured 824,936 10,797 8,604 46 833,540 10,843 Commercial and industrial 207,859 1,288 321 44 208,180 1,332 Municipal 18,061 31 - - 18,061 31 Consumer 11,134 115 18 - 11,152 115 Unallocated allowance - 847 - - - 847 Totals $ 1,061,990 $ 13,078 $ 8,943 $ 90 $ 1,070,933 $ 13,168 (in thousands) Collectively evaluated Individually evaluated Total portfolio Loans Allowance Loans Allowance Loans Allowance December 31, 2020 Residential 1-4 family $ 347,695 $ 2,445 $ 4,306 $ 201 $ 352,001 $ 2,646 Residential 5+ multifamily 36,094 686 964 - 37,058 686 Construction of residential 1-4 family 8,814 65 - - 8,814 65 Home equity lines of credit 27,650 232 154 20 27,804 252 Residential real estate 420,253 3,428 5,424 221 425,677 3,649 Commercial 305,193 6,298 5,648 248 310,841 6,546 Construction of commercial 31,722 596 - - 31,722 596 Commercial real estate 336,915 6,894 5,648 248 342,563 7,142 Farm land 3,040 59 158 - 3,198 59 Vacant land 13,912 178 167 2 14,079 180 Real estate secured 774,120 10,559 11,397 471 785,517 11,030 Commercial and industrial 226,662 1,223 486 174 227,148 1,397 Municipal 21,512 43 - - 21,512 43 Consumer 7,661 59 26 18 7,687 77 Unallocated allowance - 1,207 - - - 1,207 Totals $ 1,029,955 $ 13,091 $ 11,909 $ 663 $ 1,041,864 $ 13,754 The credit quality segments of loans receivable and the allowance for loan losses September 30, 2021 (in thousands) Collectively evaluated Individually evaluated Total portfolio Loans Allowance Loans Allowance Loans Allowance Performing loans $ 1,025,195 $ 9,490 $ - $ - $ 1,025,195 $ 9,490 Potential problem loans 1 36,795 2,741 - - 36,795 2,741 Impaired loans - - 8,943 90 8,943 90 Unallocated allowance - 847 - - - 847 Totals $ 1,061,990 $ 13,078 $ 8,943 $ 90 $ 1,070,933 $ 13,168 December 31, 2020 (in thousands) Collectively evaluated Individually evaluated Total portfolio Loans Allowance Loans Allowance Loans Allowance Performing loans $ 1,011,757 $ 10,424 $ - $ - $ 1,011,757 $ 10,424 Potential problem loans 1 18,198 1,460 - - 18,198 1,460 Impaired loans - - 11,909 663 11,909 663 Unallocated allowance - 1,207 - - - 1,207 Totals $ 1,029,955 $ 13,091 $ 11,909 $ 663 $ 1,041,864 $ 13,754 1 A specific valuation allowance is established for the impairment amount of each impaired loan, calculated using the present value of expected cash flows or fair value of collateral, in accordance with the most likely means of recovery. Certain data with respect to loans individually evaluated for impairment Impaired loans with specific allowance Impaired loans with no specific allowance (in thousands) Loan balance Specific Income Loan balance Income Book Note Average allowance recognized Book Note Average recognized September 30, 2021 Residential $ 45 $ 47 $ 1,120 $ 3 $ 2 $ 3,989 $ 4,404 $ 3,642 $ 52 Home equity lines of credit - - 22 - - 86 127 156 - Residential real estate 45 47 1,142 3 2 4,075 4,531 3,798 52 Commercial 1,007 1,033 1,921 43 33 2,866 3,377 3,002 47 Construction of commercial - - - - - - - - - Farm land - - - - - 576 756 415 - Vacant land - - 73 - - 35 39 52 - Real estate secured 1,052 1,080 3,136 46 35 7,552 8,703 7,267 99 Commercial and industrial 221 228 336 44 3 100 270 91 - Consumer - - 8 - - 18 18 15 1 Totals $ 1,273 $ 1,308 $ 3,480 $ 90 $ 38 $ 7,670 $ 8,991 $ 7,373 $ 100 Note: The income recognized is for the nine month period ended September 30, 2021. Impaired loans with specific allowance Impaired loans with no specific allowance (in thousands) Loan balance Specific Income Loan balance Income Book Note Average allowance recognized Book Note Average recognized September 30, 2020 Residential $ 3,854 $ 3,972 $ 4,034 $ 383 $ 67 $ 1,959 $ 2,335 $ 1,912 $ 20 Home equity lines of credit 75 75 77 14 - 158 507 111 1 Residential real estate 3,929 4,047 4,111 397 67 2,117 2,842 2,023 21 Commercial 3,099 3,148 3,401 270 104 1,298 1,940 978 31 Construction of commercial - - - - - - - - - Farm land - - - - - 166 322 177 - Vacant land 38 40 40 3 - 132 148 136 7 Real estate secured 7,066 7,235 7,552 670 171 3,713 5,252 3,314 59 Commercial and industrial 824 827 422 380 3 52 205 59 2 Consumer 30 30 33 18 1 - - - - Totals $ 7,920 $ 8,092 $ 8,007 $ 1,068 $ 175 $ 3,765 $ 5,457 $ 3,373 $ 61 Note: The income recognized is for the nine month period ended September 30, 2020. Impaired loans with specific allowance Impaired loans with no specific allowance (in thousands) Loan balance Loan balance Recorded Investment Note Average Specific allowance Income recognized Recorded Investment Note Average Income recognized December 31, 2020 Residential $ 2,971 $ 3,040 $ 3,862 $ 201 $ 72 $ 2,299 $ 2,676 $ 1,993 $ 27 Home equity lines of credit 75 75 76 20 - 79 117 103 - Residential real estate 3,046 3,115 3,938 221 72 2,378 2,793 2,096 27 Commercial 3,058 3,117 3,325 248 132 2,590 3,203 1,139 91 Construction of commercial - - - - - - - - - Farm land - - - - - 158 319 173 - Vacant land 37 40 39 2 - 130 145 134 9 Real estate secured 6,141 6,272 7,302 471 204 5,256 6,460 3,542 127 Commercial and industrial 416 424 482 174 4 70 283 58 2 Consumer 26 26 31 18 2 - - - - Totals $ 6,583 $ 6,722 $ 7,815 $ 663 $ 210 $ 5,326 $ 6,743 $ 3,600 $ 129

NOTE 4 - LEASES

NOTE 4 - LEASES	9 Months Ended
	Sep. 30, 2021
Note 4 - Leases
NOTE 4 - LEASES	NOTE 4 - LEASES The following table provides the assets and liabilities as well as the costs of operating and finance leases that are included in the Bank's consolidated balance sheet as of September 30, 2021 and December 31, 2020 and consolidated income statements for the nine months and three months ended September 30, 2021 and 2020 ($ in thousands, except lease term and discount rate) Classification September 30, 2021 December 31, 2020 Assets Operating Other assets $ 1,076 $ 1,182 Finance Bank premises and equipment 1 1,326 1,402 Total Leased Assets $ 2,402 $ 2,584 Liabilities Operating Other liabilities $ 1,076 $ 1,182 Finance Finance lease 1,631 1,673 Total Lease Liabilities $ 2,707 $ 2,855 1 Net of accumulated depreciation of $471 thousand and $396 thousand, respectively. Lease Cost Classification Nine months ended September 30, 2021 Three months ended September 30, 2021 Operating leases Premises and equipment $ 221 $ 74 Finance leases: Amortization of leased assets Premises and equipment 76 25 Interest on finance leases Interest expense 103 36 Total lease cost $ 400 $ 135 Lease Cost Classification Nine months ended September 30, 2020 Three months ended September 30, 2020 Operating leases Premises and equipment $ 188 $ 64 Finance leases: Amortization of leased assets Premises and equipment 76 25 Interest on finance leases Interest expense 107 36 Total lease cost $ 371 $ 125 Weighted Average Remaining Lease Term September 30, 2021 December 31, 2020 Operating leases 7.0 years 7.6 years Financing leases 13.7 years 14.2 years Weighted Average Discount Rate 1 Operating leases 3.6 % 3.7 % Financing leases 8.3 % 8.4 % 1 Salisbury uses the applicable FHLBB Advance rate as the discount rate, as its leases do not provide an implicit rate. The following is a schedule by years of the present value of the net minimum lease payments Future minimum lease payments (in thousands) Operating Leases Finance Leases 2021 $ 64 $ 48 2022 227 195 2023 167 198 2024 130 200 2025 137 203 Thereafter 437 1,752 Total future minimum lease payments 1,162 2,596 Less amount representing interest (86 ) (965 ) Total present value of net future minimum lease payments $ 1,076 $ 1,631

NOTE 5 - ASSETS HELD FOR SALE

NOTE 5 - ASSETS HELD FOR SALE	9 Months Ended
	Sep. 30, 2021
Property, Plant and Equipment [Abstract]
NOTE 5 - ASSETS HELD FOR SALE	NOTE 5 - ASSETS HELD FOR SALE The Bank is in the process of relocating its retail branch in Poughkeepsie, New York to a leased facility nearby. As part of this relocation process, the Bank has entered into an agreement with a third party to sell the building that houses its Poughkeepsie, New York retail branch . As of September 30, 2021, the current branch location met the accounting guidance criteria to be classified as assets held for sale. There are no liabilities held for sale associated with this location. Following is a summary of the assets held for sale, which are recorded in other assets within the consolidated balance sheet as of September 30, 2021: Buildings and leasehold improvements $ 700,000 An impairment expense of $ 144

NOTE 6 - MORTGAGE SERVICING RIG

NOTE 6 - MORTGAGE SERVICING RIGHTS	9 Months Ended
	Sep. 30, 2021
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Abstract]
NOTE 6 - MORTGAGE SERVICING RIGHTS	NOTE 6 - MORTGAGE SERVICING RIGHTS (in thousands) September 30, 2021 December 31, 2020 Residential mortgage loans serviced for others $ 142,873 $ 134,428 Fair value of mortgage servicing rights 999 762 Changes in mortgage servicing rights Three months ended Nine months ended Periods ended September 30, (in thousands) 2021 2020 2021 2020 Mortgage Servicing Rights Balance, beginning of period $ 748 $ 353 $ 621 $ 238 Originated 18 270 276 413 Amortization (1) (36 ) (56 ) (167 ) (84 ) Balance, end of period $ 730 $ 567 $ 730 $ 567 Valuation Allowance Balance, beginning of period - - (9 ) - Decrease in impairment reserve (1) - - 9 - Balance, end of period - - - - Mortgage servicing rights, net $ 730 $ 567 $ 730 $ 567 (1) Amortization expense and changes in the impairment reserve are recorded in mortgage servicing, net.

NOTE 7 - PLEDGED ASSETS

NOTE 7 - PLEDGED ASSETS	9 Months Ended
	Sep. 30, 2021
Guarantees and Product Warranties [Abstract]
NOTE 7 - PLEDGED ASSETS	NOTE 7 - PLEDGED ASSETS The following securities and loans were pledged to secure public and trust deposits, securities sold under agreements to repurchase, FHLBB advances and credit facilities available (in thousands) September 30, 2021 December 31, 2020 Securities available-for-sale (at fair value) $ 66,877 $ 54,581 Loans receivable (at book value) 382,840 420,415 Total pledged assets $ 449,717 $ 474,996 At September 30, 2021, securities were pledged as follows: $ 56.41 10.45 0.02

NOTE 8 - DERIVATIVES AND HEDGIN

NOTE 8 - DERIVATIVES AND HEDGING ACTIVITIES	9 Months Ended
	Sep. 30, 2021
Derivative Instruments and Hedging Activities Disclosure [Abstract]
NOTE 8 - DERIVATIVES AND HEDGING ACTIVITIES	NOTE 8 - DERIVATIVES AND HEDGING ACTIVITIES Risk Management Objective of Using Derivatives Salisbury is exposed to certain risk arising from both its business operations and economic conditions. The Bank principally manages its exposures to a wide variety of business and operational risks through management of its core business activities. The Bank manages economic risks, including interest rate, liquidity, and credit risk primarily by managing the amount, sources, and duration of its assets and liabilities and the use of derivative financial instruments. Specifically, the Bank enters into derivative financial instruments to manage exposures that arise from business activities that result in the receipt or payment of future known and uncertain cash amounts, the value of which are determined by interest rates. The Bank uses derivative financial instruments to manage differences in the amount, timing, and duration of the Bank's known or expected cash receipts and its known or expected cash payments principally related to its portfolio of loans to first-time home buyers. Fair Value Hedges of Interest Rate Risk The Company is exposed to changes in the fair value of certain pools of its pre-payable fixed-rate assets due to changes in benchmark interest rates. Salisbury uses interest rate swaps to manage its exposure to changes in fair value on these instruments attributable to changes in the designated benchmark interest rate, Federal Funds. Interest rate swaps designated as fair value hedges involve the payment of fixed-rate amounts to a counterparty in exchange for Salisbury receiving variable-rate payments over the life of the agreements without the exchange of the underlying notional amount. For derivatives designated and that qualify as fair value hedges, the gain or loss on the derivative as well as the offsetting loss or gain on the hedged item attributable to the hedged risk are recognized in interest income. As of September 30, 2021 and December 31, 2020, the following amounts were recorded on the balance sheet related to cumulative basis adjustment for fair value hedges Line Item in the Statement of Financial Position in Which the Hedged Item is Included Carrying Amount of the Cumulative Amount of Fair Value Hedging Adjustment Included in the Carrying Amount of the Hedged Assets (in thousands) September 30, 2021 December 31, 2020 September 30, 2021 December 31, 2020 Loans receivable (1) $ 9,996 $ 9,996 $ (4 ) $ (4 ) Total $ 9,996 $ 9,996 $ (4 ) $ (4 ) (1) The table below presents the fair value of Salisbury's derivative financial instrument and its classification on the Balance Sheet As of September 30, 2021 As of December 31, 2020 (in thousands) Notional Amount Balance Sheet Location Fair Value Balance Sheet Location Fair Value Derivatives designated as hedge instruments Interest Rate Products $ 10,000 Other assets $ 4 Other Assets $ 4 Total Derivatives designated as hedge instruments $ 4 $ 4 The tables below present the effect of the Company's derivative financial instruments on the Income Statement Three months ended September 30, 2021 Nine months ended September 30, 2021 (in thousands) Interest Interest Interest Interest Total amounts of income and expense line items presented in the statement of financial performance in which the effects of fair value or cash flow hedges are recorded $ 1 $ - $ - $ - Gain or (loss) on fair value hedging relationships in Subtopic 815-20 Interest contracts Hedged items 4 - 3 - Derivatives designated as hedging instruments $ (3 ) $ - $ (3 ) $ - Three months ended September 30, 2020 Nine months ended September 30, 2020 (in thousands) Interest Interest Interest Interest Total amounts of income and expense line items presented in the statement of financial performance in which the effects of fair value or cash flow hedges are recorded $ - $ - $ - $ - Gain or (loss) on fair value hedging relationships in Subtopic 815-20 Interest contracts Hedged items 3 - - 3 Derivatives designated as hedging instruments $ (3 ) $ - $ - $ (3 ) Credit-Risk Related Contingent Features Salisbury has an agreement with its derivative counterparty that contains a provision that provides that if the Bank defaults on any of its indebtedness, including default where repayment of the indebtedness has not been accelerated by the lender, then the Bank could also be declared in default on its derivative obligations. The agreement also contains a provision where if the Bank fails to maintain its status as a well / adequate capitalized institution, then Salisbury could be required to post cash or certain marketable securities issued by the U.S. Treasury or U.S. Government-sponsored enterprises as collateral. The minimum amount that Salisbury would have to post as collateral is $ 250 As of September 30, 2021, the fair value of derivative was $ 4

NOTE 9 - EARNINGS PER SHARE

NOTE 9 - EARNINGS PER SHARE	9 Months Ended
	Sep. 30, 2021
Earnings Per Share [Abstract]
NOTE 9 - EARNINGS PER SHARE	NOTE 9 - EARNINGS PER SHARE Salisbury defines unvested share-based payment awards that contain non-forfeitable rights to dividends as participating securities that are included in computing earnings per share (EPS) using the two-class method. The two-class method is an earnings allocation formula that determines earnings per share for each share of common stock and participating securities according to dividends declared and participation rights in undistributed earnings. Under this method, all earnings (distributed and undistributed) are allocated to common shares and participating securities based on their respective rights to receive dividends. Basic EPS excludes dilution and is computed by dividing income allocated to common stockholders by the weighted-average number of common shares outstanding for the period. Diluted EPS reflects the potential dilution that could occur if securities or other contracts to issue common stock were exercised or converted into common stock or resulted in the issuance of common stock that then shared in the earnings of the entity. The following table sets forth the computation of earnings per share (basic and diluted) Three months ended Nine months ended Periods ended September 30, (in thousands, except per share data) 2021 2020 2021 2020 Net income $ 3,453 $ 4,356 $ 12,332 $ 9,137 Less: Undistributed earnings allocated to participating securities (53 ) (67 ) (184 ) (131 ) Net income allocated to common stock $ 3,400 $ 4,288 $ 12,148 $ 9,006 Weighted-average common shares issued 2,862 2,843 2,853 2,835 Less: Unvested restricted stock awards (45 ) (44 ) (43 ) (41 ) Weighted average common shares outstanding used to calculate basic earnings per common share 2,817 2,799 2,810 2,794 Add: Dilutive effect of stock options 26 8 20 8 Weighted-average common shares outstanding used to calculate diluted earnings per common share 2,843 2,807 2,830 2,802 Earnings per common share (basic) $ 1.21 $ 1.53 $ 4.32 $ 3.22 Earnings per common share (diluted) $ 1.20 $ 1.53 $ 4.30 $ 3.21

NOTE 10 - SHAREHOLDERS' EQUITY

NOTE 10 - SHAREHOLDERS' EQUITY	9 Months Ended
	Sep. 30, 2021
Equity [Abstract]
NOTE 10 - SHAREHOLDERS' EQUITY	NOTE 10 - SHAREHOLDERS' EQUITY Capital Requirements The Company and the Bank are subject to various regulatory capital requirements administered by the federal banking agencies. Failure to meet minimum capital requirements can initiate certain mandatory and possibly additional and discretionary actions by the regulators that, if undertaken, could have a direct material effect on the Bank's financial statements. Under capital adequacy guidelines and the regulatory framework for prompt corrective action, the Bank must meet specific guidelines that involve quantitative measures of its assets, liabilities, and certain off-balance sheet items as calculated under regulatory accounting practices. The Bank's capital amounts and classification are also subject to qualitative judgments by the regulators about components, risk weightings, and other factors. As of September 30, 2021, the Company and the Bank met each of their capital requirements. The Company and the Bank became subject to capital regulations adopted by the Board of Governors of the Federal Reserve System (FRB) and the FDIC, which implemented the Basel III regulatory capital reforms and the changes required by the Dodd-Frank Act. The required minimum regulatory capital ratios to which the Bank is subject, and the minimum ratios required for the Bank to be categorized as "well capitalized" under the prompt corrective action framework are noted in the table below. In addition, the regulations established a capital conservation buffer of 2.5% effective January 1, 2019. Failure to maintain the capital conservation buffer will limit the ability of the Company and the Bank to pay discretionary bonuses and dividends. At September 30, 2021, the Bank exceeded the minimum requirement for the capital conservation buffer. As of September 30,2021, the most recent notification from the Federal Deposit Insurance Corporation categorized the Bank as well capitalized under the regulatory framework for prompt corrective action. There are no conditions or events since that notification that management believes have changed that categorization. On March 31, 2021, Salisbury issued $ 25 15 10 As of September 30, 2021, Salisbury did not repurchase any of its common shares pursuant to the Common Stock Repurchase Plan approved by the Board of Directors in March 2021. The Bank's risk-weighted assets at September 30, 2021 and December 31, 2020 were $ 1.05 938.0 Actual regulatory capital position and minimum capital requirements Actual Minimum Capital Required For Capital Adequacy Minimum Capital Required For Capital Adequacy Plus Required Capital Conservation Buffer Minimum To Be Well Capitalized Under Prompt Corrective Action Provisions (dollars in thousands) Amount Ratio Amount Ratio Amount Ratio Amount Ratio September 30, 2021 Total Capital (to risk-weighted assets) $ 149,213 14.20 % $ 84,080 8.0 % $ 110,355 10.5 % $ 105,100 10.0 % Tier 1 Capital (to risk-weighted assets) 136,074 12.95 63,060 6.0 89,335 8.5 84,080 8.0 Common Equity Tier 1 Capital (to risk-weighted assets) 136,074 12.95 47,295 4.5 73,570 7.0 68,315 6.5 Tier 1 Capital (to average assets) $ 136,074 9.31 $ 58,451 4.0 $ 58,451 4.0 $ 73,063 5.0 December 31, 2020 Total Capital (to risk-weighted assets) $ 127,254 13.57 % $ 75,037 8.0 % $ 98,486 10.5 % $ 93,796 10.0 % Tier 1 Capital (to risk-weighted assets) 115,503 12.31 56,278 6.0 79,727 8.5 75,037 8.0 Common Equity Tier 1 Capital (to risk-weighted assets) 115,503 12.31 42,208 4.5 66,657 7.0 60,967 6.5 Tier 1 Capital (to average assets) $ 115,503 8.90 $ 51,907 4.0 $ 51,907 4.0 $ 64,884 5.0 Restrictions on Cash Dividends to Common Shareholders Salisbury's ability to pay cash dividends is substantially dependent on the Bank's ability to pay cash dividends to Salisbury. There are certain restrictions on the payment of cash dividends and other payments by the Bank to Salisbury. Under Connecticut law, the Bank cannot declare a cash dividend except from net profits, defined as the remainder of all earnings from current operations. The total of all cash dividends declared by the Bank in any calendar year shall not, unless specifically approved by the Banking Commissioner, exceed the total of its net profits of that year combined with its retained net profits of the preceding two years. FRB Supervisory Letter SR 09-4, February 24, 2009, revised March 30, 2009, notes that, as a general matter, the Board of Directors of a Bank Holding Company ("BHC") should inform the Federal Reserve and should eliminate, defer, or significantly reduce dividends if (1) net income available to shareholders for the past four quarters, net of dividends previously paid during that period, is not sufficient to fully fund the dividends; (2) the prospective rate of earnings retention is not consistent with capital needs and overall current and prospective financial condition; or (3) the BHC will not meet, or is in danger of not meeting, its minimum regulatory capital adequacy ratios. Moreover, a BHC should inform the Federal Reserve reasonably in advance of declaring or paying a dividend that exceeds earnings for the period (e.g., quarter) for which the dividend is being paid or that could result in a material adverse change to the BHC capital structure.

NOTE 11 - BENEFITS

NOTE 11 - BENEFITS	9 Months Ended
	Sep. 30, 2021
Retirement Benefits [Abstract]
NOTE 11 - BENEFITS	NOTE 11 - BENEFITS 401(k) Salisbury's 401(k) Plan expense was $ 253 229 847 667 ESOP Salisbury offers an ESOP to eligible employees. Under the ESOP, Salisbury may make discretionary contributions to the ESOP. Discretionary contributions vest in full upon six years and reflect the following schedule of qualified service: 55 56 184 170 Other Retirement Plans Salisbury adopted ASC 715-60, "Compensation - Retirement Benefits - Defined Benefit Plans - Other Post-retirement" and recognized a liability for Salisbury's future post-retirement benefit obligations under endorsement split dollar life insurance arrangements. The total liability for the arrangements included in other liabilities was $ 1,031 771 86 (32) 259 7 On September 1, 2021, the Bank and Richard Cantele, President and Chief Executive Officer of the Bank and of the Company, entered into an updated split dollar agreement which superseded and replaced a prior split dollar agreement between the parties. In addition, the Bank and named executive officers Peter Albero and John Davies (together with Mr. Cantele, the "executive(s)"), entered into updated split dollar agreements which superseded and replaced their existing split dollar agreements (collectively with the split dollar agreement for Richard Cantele, the "Updated Agreements"). The Updated Agreements for Messrs. Albero and Davies are identical and substantially similar to the split dollar agreement for Mr. Cantele, except as discussed below. The Updated Agreements provide for a death benefit during employment of each executive equal to the lesser of (i) three times the executive's base salary, not to exceed $800,000, less $50,000 or (ii) the net amount at risk, defined as the difference between the death benefit payable on death and the accrued cash value of the life insurance policy at the time of death. Mr. Cantele's post-retirement death benefit will be 1.5 times his final base salary, not to exceed $800,000. If Messrs. Albero and Davies retire after reaching age 65, the executives will be entitled to a post-retirement death benefit equal to 1.5 times final base salary at age 65 through age 71, 1.0 times final base salary at age 72 through 79, and 0.5 times final base salary at age 80 and later, provided that the death benefit shall not exceed $800,000. In the event of a change in control of the Bank, the executive will become fully vested in the death benefit under the policy, including the post-retirement death benefit, and the policy cannot be terminated or amended without the express written consent of the executive. The Bank is the sole beneficiary of any death proceeds remaining after the aforementioned death proceeds have been paid to the designated beneficiaries. A Non-Qualified Deferred Compensation Plan (the "Plan") was adopted effective January 1, 2013. This Plan was adopted by the Bank for the benefit of certain key employees ("Executive" or "Executives") who have been selected and approved by the Bank to participate in this Plan and have evidenced their participation by execution of a Non-Qualified Deferred Compensation Plan Participation Agreement ("Participation Agreement") in a form provided by the Bank. This Plan is intended to comply with Internal Revenue Code ("Code") Section 409A and any regulatory or other guidance issued under such Section. Salisbury's expense for this plan was $ 29 33 86 100 Management Agreements: Salisbury or the Bank has entered into various management agreements with its named executive officers, including a severance agreement with Mr. Cantele, President and Chief Executive Officer, a change in control agreement with Mr. Albero, Executive Vice President and Chief Financial Officer, and a severance agreement with Mr. Davies, President of the New York Region and Chief Lending Officer. In addition to these agreements, Salisbury has change in control agreements or a severance agreement, with change in control provisions, with eleven other executives with payouts ranging from 0.5 to 1.0 times base salary, annual cash bonus and other benefits. Such agreements, and their subsequent amendments, are designed to allow Salisbury to retain the services of the designated executives while reducing, to the extent possible, unnecessary disruptions to Salisbury's operations.

NOTE 12 - LONG TERM INCENTIVE P

NOTE 12 - LONG TERM INCENTIVE PLANS	9 Months Ended
	Sep. 30, 2021
Retirement Benefits [Abstract]
NOTE 12 - LONG TERM INCENTIVE PLANS	NOTE 12 - LONG TERM INCENTIVE PLANS Restricted stock Restricted stock expense was $ 149 122 449 393 27 22 81 71 16,650 746 1,075 906 21 500 50 1,200 Performance-based restricted stock units On March 29, 2019, the Compensation Committee granted performance-based restricted stock units (RSU) pursuant to the 2017 Long-Term Incentive Plan to further align compensation with the Bank's performance. This RSU plan replaced the Bank's Phantom Stock Appreciation Units plan (Phantom). Salisbury paid out the final tranche of these awards in January 2021. The performance goal for awards granted under the RSU plan in 2019 is based on the increase in the Bank's tangible book value by $3.50 per share over the performance period for threshold performance. Vesting will range from 75% of target for achieving threshold performance, to 100% of target for achieving target payout performance ($5.00 increase in tangible book value per share) to 150% of target for achieving in excess of target payout performance and, if the performance goals are achieved, vesting will occur no later than March 29, 2022. No performance-based restricted stock units were awarded prior to 2019. On July 29, 2020, the Compensation Committee granted an additional 7,250 On June 23, 2021, the Compensation Committee granted an additional 7,400 The fair value of the awards granted under the RSU plan at the grant date was $ 354 264 280 61 80 236 127 11 14 42 23 Short Term Incentive Plan (STIP) Salisbury offers a short-term discretionary compensation plan to eligible employees on an annual basis. Under this incentive plan, Salisbury may reward employees with cash compensation if certain pre-determined Bank and individual performance goals have been achieved. The STIP expense, which is included in compensation expenses, totaled $ 210 189 757 530 38 34 136 95 Options Salisbury issued stock options in conjunction with its acquisition of Riverside Bank in 2014. In third quarter 2021 and third quarter 2020, no stock options were exercised. In first quarter 2021 and first quarter 2020, a former Riverside Bank executive exercised 1,755 17.04 1,350 17.04

NOTE 13 - FAIR VALUE OF ASSETS

NOTE 13 - FAIR VALUE OF ASSETS AND LIABILITIES	9 Months Ended
	Sep. 30, 2021
Fair Value Disclosures [Abstract]
NOTE 13 - FAIR VALUE OF ASSETS AND LIABILITIES	NOTE 13 - FAIR VALUE OF ASSETS AND LIABILITIES Salisbury uses fair value measurements to record fair value adjustments to certain assets and liabilities and to determine fair value disclosures. Securities available-for-sale and the CRA mutual fund are recorded at fair value on a recurring basis. Additionally, from time to time, other assets are recorded at fair value on a nonrecurring basis, such as assets and loans held for sale, collateral dependent impaired loans, property acquired through foreclosure or repossession and mortgage servicing rights. These nonrecurring fair value adjustments typically involve the application of lower-of-cost-or-market accounting or write-downs of individual assets. Salisbury adopted ASC 820-10, "Fair Value Measurement - Overall," which provides a framework for measuring fair value under generally accepted accounting principles. This guidance permitted Salisbury the irrevocable option to elect fair value for the initial and subsequent measurement for certain financial assets and liabilities on a contract-by-contract basis. Salisbury did not elect fair value treatment for any financial assets or liabilities upon adoption. In accordance with ASC 820-10, Salisbury groups its financial assets and financial liabilities measured at fair value in three levels based on the markets in which the assets and liabilities are traded and the reliability of the assumptions used to determine fair value. GAAP specifies a hierarchy of valuation techniques based on whether the types of valuation information ("inputs") are observable or unobservable. Observable inputs reflect market data obtained from independent sources, while unobservable inputs reflect Salisbury's market assumptions. These two types of inputs have created the following fair value hierarchy: • Level 1. Quoted prices in active markets for identical assets. Valuations for assets and liabilities traded in active exchange markets, such as the New York Stock Exchange Valuations are obtained from readily available pricing sources for market transactions involving identical assets or liabilities. • Level 2. Significant other observable inputs. Valuations for assets and liabilities traded in less active dealer or broker markets. Valuations are obtained from third party pricing services for identical or comparable assets or liabilities. • Level 3. Significant unobservable inputs. Valuations for assets and liabilities that are derived from other methodologies, including option pricing models, discounted cash flow models and similar techniques, are not based on market exchange, dealer, or broker traded transactions. Level 3 valuations incorporate certain assumptions and projections in determining the fair value assigned to such assets and liabilities. The following is a description of valuation methodologies for assets recorded at fair value, including the general classification of such assets and liabilities pursuant to the valuation hierarchy. • Securities available-for-sale and the CRA mutual fund. Securities available-for-sale and the CRA mutual fund are recorded at fair value on a recurring basis. Level 1 securities include exchange-traded equity securities. Level 2 securities include debt securities with quoted prices, which are traded less frequently than exchange-traded instruments, whose value is determined using matrix pricing with inputs that are observable in the market or can be derived principally from or corroborated by observable market data. This category generally includes obligations of the U.S. Treasury and U.S. government-sponsored enterprises, mortgage-backed securities, collateralized mortgage obligations, municipal bonds, SBA bonds, corporate bonds and certain preferred equities. Level 3 is for positions that are not traded in active markets or are subject to transfer restrictions, valuations are adjusted to reflect illiquidity and/or non-transferability, and such adjustments are generally based on available market evidence. In the absence of such evidence, management's best estimate is used. Subsequent to inception, management only changes level 3 inputs and assumptions when corroborated by evidence such as transactions in similar instruments, completed or pending third-party transactions in the underlying investment or comparable entities, subsequent rounds of financing, recapitalization and other transactions across the capital structure, offerings in the equity or debt markets, and changes in financial ratios or cash flows. • Derivative financial instruments. The fair value of the interest rate swap is determined using the market standard methodology of netting the discounted future fixed cash receipts (or payments) and the discounted expected variable cash payments (or receipts). The variable cash payments (or receipts) are based on an expectation of future interest rates (forward curves) derived from observable market interest rate curves. • Collateral dependent loans that are deemed to be impaired are valued based upon the fair value of the underlying collateral less costs to sell. Such collateral primarily consists of real estate and, to a lesser extent, other business assets. Management may adjust appraised values to reflect estimated market value declines or apply other discounts to appraised values resulting from its knowledge of the property. Internal valuations are utilized to determine the fair value of other business assets. Collateral dependent impaired loans are categorized as Level 3. • Other real estate owned acquired through foreclosure or repossession is adjusted to fair value less costs to sell upon transfer out of loans. Subsequently, it is carried at the lower of carrying value or fair value less costs to sell. Fair value is generally based upon independent market prices or appraised values of the collateral. Management adjusts appraised values to reflect estimated market value declines or apply other discounts to appraised values for unobservable factors resulting from its knowledge of the property, and such property is categorized as Level 3. • Assets held for sale. The fair value of assets held for sale is based on independent market prices, appraised values or the contractual selling price. Assets measured at fair value Fair Value Measurements Using Assets and Liabilities at (in thousands) Level 1 Level 2 Level 3 fair value September 30, 2021 Assets at fair value on a recurring basis U.S. Treasury $ - $ 10,302 $ - $ 10,302 U.S. Government Agency notes - 32,274 - 32,274 Municipal bonds - 39,605 - 39,605 Mortgage-backed securities: U.S. Government agencies and U.S. Government-sponsored enterprises - 67,179 - 67,179 Collateralized mortgage obligations: U.S. Government agencies - 15,011 - 15,011 Corporate bonds - 11,197 - 11,197 Securities available-for-sale $ - $ 175,568 $ - $ 175,568 CRA mutual funds $ 907 $ - $ - $ 907 Derivative financial instruments $ - $ 4 $ - $ 4 Assets at fair value on a non-recurring basis Assets held for sale 1 $ 700 $ - $ - $ 700 December 31, 2020 Assets at fair value on a recurring basis U.S. Government Agency notes $ - $ 7,851 $ - $ 7,851 Municipal bonds - 27,617 - 27,617 Mortgage-backed securities: U.S. Government agencies and U.S. Government-sponsored enterprises - 36,573 - 36,573 Collateralized mortgage obligations: U.S. Government agencies - 17,454 - 17,454 Corporate bonds - 8,916 - 8,916 Securities available-for-sale $ - $ 98,411 $ - $ 98,411 CRA mutual funds $ 917 $ - $ - $ 917 Derivative financial instruments $ - $ 4 $ - $ 4 1 The Bank is in the process of relocating its retail branch in Poughkeepsie, New York to a leased facility nearby. pre-tax loss of $ 144 Carrying values and estimated fair values of financial instruments (in thousands) Carrying Estimated Fair value measurements using value fair value Level 1 Level 2 Level 3 September 30, 2021 Financial Assets Cash and cash equivalents $ 166,295 $ 166,295 $ 166,295 $ - $ - Interest bearing time deposits with financial institutions 750 750 750 - - Securities available-for-sale 175,568 175,568 - 175,568 - CRA mutual fund 907 907 907 - - Federal Home Loan Bank of Boston stock 1,504 1,504 1,504 - - Loans held-for-sale 639 649 - - 649 Loans receivable, net 1,057,451 1,051,127 - - 1,051,127 Accrued interest receivable 5,932 5,932 5,932 - - Derivative financial instruments 4 4 - 4 - Cash surrender value of life insurance policies 25,067 25,067 25,067 - - Financial Liabilities Demand (non-interest-bearing) $ 392,322 $ 392,322 $ - $ 392,322 $ - Demand (interest-bearing) 220,533 220,533 - 220,533 - Money market 328,392 328,392 - 328,392 - Savings and other 224,286 224,286 - 224,286 - Certificates of deposit 124,095 124,946 - 124,946 - Deposits 1,289,628 1,290,747 - 1,290,747 - Repurchase agreements 10,450 10,450 - 10,450 - FHLBB advances 8,905 9,000 - 9,000 - Subordinated debt 24,460 24,276 - 24,276 - Note payable 180 181 - 181 - Finance lease liability 1,631 1,732 - - 1,732 Accrued interest payable 34 34 34 - - December 31, 2020 Financial Assets Cash and cash equivalents $ 93,162 $ 93,162 $ 93,162 $ - $ - Interest bearing time deposits with financial institutions 750 750 750 - - Securities available-for-sale 98,411 98,411 - 98,411 - CRA mutual fund 917 917 917 - - Federal Home Loan Bank of Boston stock 1,713 1,713 1,713 - - Loans held-for-sale 2,735 2,790 - - 2,790 Loans receivable, net 1,027,738 1,057,234 - - 1,057,234 Accrued interest receivable 6,373 6,373 6,373 - - Cash surrender value of life insurance policies 21,182 21,182 21,182 - - Derivative financial instruments 4 4 - 4 - Financial Liabilities Demand (non-interest-bearing) $ 310,769 $ 310,769 $ - $ 310,769 $ - Demand (interest-bearing) 218,869 218,869 - 218,869 - Money market 278,146 278,146 - 278,146 - Savings and other 189,776 189,776 - 189,776 - Certificates of deposit 131,514 132,875 - 132,875 - Deposits 1,129,074 1,130,435 - 1,130,435 - Repurchase agreements 7,116 7,116 - 7,116 - FHLBB advances 12,639 12,786 - 12,786 - Subordinated debt 9,883 10,027 - 10,027 - Note payable 208 212 - 212 - Finance lease liability 1,673 1,920 - - 1,920 Accrued interest payable 43 43 43 - - The carrying amounts of financial instruments shown in the above table are included in the consolidated balance sheets under the indicated captions or are included in other assets and other liabilities. During the three months ended March 31, 2021, Salisbury issued new subordinated debt, and during the three months ended June 30, 2021 paid off its previously issued subordinated debt in its entirety. Salisbury categorized its new subordinated debt within level 2 of the fair value hierarchy.

NOTE 14 - SUBSEQUENT EVENTS

NOTE 14 - SUBSEQUENT EVENTS	9 Months Ended
	Sep. 30, 2021
Subsequent Events [Abstract]
NOTE 14 - SUBSEQUENT EVENTS	NOTE 14 - SUBSEQUENT EVENTS On October 1, 2021, the bank entered into a lease agreement for a new branch in Poughkeepsie, New York. The lease is for an initial period of 10 years with two ten-year optional renewal periods. On October 20, 2021 the Board of Directors declared a dividend of $ 0.31

NOTE 2 - SECURITIES (Tables)

NOTE 2 - SECURITIES (Tables)	9 Months Ended
	Sep. 30, 2021
Investments, Debt and Equity Securities [Abstract]
composition of securities	The composition of securities (in thousands) Amortized cost basis Gross un-realized gains Gross un-realized losses Fair value September 30, 2021 Available-for-sale U.S. Treasury $ 10,397 $ - $ 95 $ 10,302 U.S. Government Agency notes 32,093 280 99 32,274 Municipal bonds 38,525 1,331 251 39,605 Mortgage-backed securities: U.S. Government agencies and U.S. Government- sponsored enterprises 67,059 818 698 67,179 Collateralized mortgage obligations: U.S. Government agencies 14,844 208 41 15,011 Corporate bonds 11,000 197 - 11,197 Total securities available-for-sale $ 173,918 $ 2,834 $ 1,184 $ 175,568 CRA mutual fund $ 907 Non-marketable securities Federal Home Loan Bank of Boston stock $ 1,504 $ - $ - $ 1,504 (in thousands) Amortized cost basis Gross un-realized gains Gross un-realized losses Fair value December 31, 2020 Available-for-sale U.S. Government Agency notes $ 7,735 $ 153 $ 37 $ 7,851 Municipal bonds 25,831 1,787 1 27,617 Mortgage-backed securities: U.S. Government agencies and U.S. Government - sponsored enterprises 35,240 1,376 43 36,573 Collateralized mortgage obligations: U.S. Government agencies 17,054 400 - 17,454 Corporate bonds 8,750 166 - 8,916 Total securities available-for-sale $ 94,610 $ 3,882 $ 81 $ 98,411 CRA mutual fund $ 917 Non-marketable securities Federal Home Loan Bank of Boston stock $ 1,713 $ - $ - $ 1,713
aggregate fair value and gross unrealized loss of securities that have been in a continuous unrealized loss position	The following table summarizes the aggregate fair value and gross unrealized loss of securities that have been in a continuous unrealized loss position Less than 12 Months 12 Months or Longer Total September 30, 2021 (in thousands) Fair value Unrealized losses Fair value Unrealized losses Fair value Unrealized losses Available-for-sale U.S. Treasury $ 10,302 $ 95 $ - $ - $ 10,302 $ 95 U.S. Government Agency notes 20,550 80 1,125 19 21,675 99 Municipal bonds 13,980 251 - - 13,980 251 Mortgage- backed securities: U.S. Government agencies and U.S. Government - sponsored enterprises 42,471 647 1,398 26 43,869 698 Collateralized mortgage obligations 4,625 66 - - 4,625 41 Corporate bonds - - - - - - Total temporarily impaired securities $ 91,928 $ 1,139 $ 2,523 $ 45 $ 94,451 $ 1,184 Less than 12 Months 12 Months or Longer Total December 31, 2020 (in thousands) Fair value Unrealized losses Fair value Unrealized losses Fair value Unrealized losses Available-for-sale U.S. Government Agency notes $ 2,553 $ 36 $ 20 $ 1 $ 2,573 $ 37 Municipal bonds 558 1 - - 558 1 Mortgage- backed securities: U.S. Government agencies and U.S. Government - sponsored enterprises 3,761 42 45 1 3,806 43 Total temporarily impaired securities $ 6,872 $ 79 $ 65 $ 2 $ 6,937 $ 81
amortized cost, fair value and tax equivalent yield of securities, by maturity	The table below presents the amortized cost, fair value and tax equivalent yield of securities, by maturity . Debt securities issued by U.S. Government agencies (SBA securities), MBS, and CMOS are disclosed separately in the table below as these securities may prepay prior to the scheduled contractual maturity dates. September 30, 2021 (in thousands) Maturity Amortized cost Fair value Yield (1) U.S. Treasury After 5 year but within 10 years $ 10,397 $ 10,302 1.15 % U.S. Government Agency notes After 5 year but within 10 years 15,902 15,848 1.23 Total 26,299 26,150 1.20 Municipal bonds After 5 year but within 10 years 3,594 3,820 2.80 After 10 years 34,931 35,785 2.61 Total 38,525 39,605 2.63 Mortgage-backed securities, Collateralized mortgage obligations, Securities not due at a single maturity date 98,094 98,616 1.64 Corporate bonds After 5 years but within 10 years 11,000 11,197 4.61 Securities available-for-sale $ 173,918 $ 175,568 2.04 %

NOTE 3 - LOANS (Tables)

NOTE 3 - LOANS (Tables)	9 Months Ended
	Sep. 30, 2021
Receivables [Abstract]
composition of loans receivable and loans held-for-sale	The composition of loans receivable and loans held-for-sale (In thousands) September 30, 2021 December 31, 2020 Residential 1-4 family $ 368,801 $ 352,001 Residential 5+ multifamily 46,237 37,058 Construction of residential 1-4 family 15,429 8,814 Home equity lines of credit 24,001 27,804 Residential real estate 454,468 425,677 Commercial 314,820 310,841 Construction of commercial 47,145 31,722 Commercial real estate 361,965 342,563 Farm land 3,409 3,198 Vacant land 13,698 14,079 Real estate secured 833,540 785,517 Commercial and industrial ex PPP Loans 167,528 140,516 PPP Loans 40,652 86,632 Total Commercial and industrial 208,180 227,148 Municipal 18,061 21,512 Consumer 11,152 7,687 Loans receivable, gross 1,070,933 1,041,864 Deferred loan origination fees, net (314 ) (372 ) Allowance for loan losses (13,168 ) (13,754 ) Loans receivable, net $ 1,057,451 $ 1,027,738 Loans held-for-sale Residential 1-4 family $ 639 $ 2,735
composition of loans receivable by risk rating grade	The composition of loans receivable by risk rating grade (in thousands) Pass Special mention Substandard Doubtful Loss Total September 30, 2021 Residential 1-4 family $ 361,116 $ 4,139 $ 3,546 $ - $ - $ 368,801 Residential 5+ multifamily 44,484 83 1,670 - - 46,237 Construction of residential 1-4 family 15,301 128 - - - 15,429 Home equity lines of credit 23,706 209 86 - - 24,001 Residential real estate 444,607 4,559 5,302 - - 454,468 Commercial 274,004 5,654 35,162 - - 314,820 Construction of commercial 47,145 - - - - 47,145 Commercial real estate 321,149 5,654 35,162 - - 361,965 Farm land 1,610 1,223 576 - - 3,409 Vacant land 13,621 42 35 - - 13,698 Real estate secured 780,987 11,478 41,075 - - 833,540 Commercial and industrial 205,140 500 2,540 - - 208,180 Municipal 18,061 - - - - 18,061 Consumer 11,132 1 19 - - 11,152 Loans receivable, gross $ 1,015,320 $ 11,979 $ 43,634 $ - $ - $ 1,070,933 (in thousands) Pass Special mention Substandard Doubtful Loss Total December 31, 2020 Residential 1-4 family $ 342,243 $ 5,615 $ 4,143 $ - $ - $ 352,001 Residential 5+ multifamily 35,272 90 1,696 - - 37,058 Construction of residential 1-4 family 8,814 - - - - 8,814 Home equity lines of credit 27,393 257 154 - - 27,804 Residential real estate 413,722 5,962 5,993 - - 425,677 Commercial 276,866 15,565 18,410 - - 310,841 Construction of commercial 31,493 - 229 - - 31,722 Commercial real estate 308,359 15,565 18,639 - - 342,563 Farm land 1,612 - 1,586 - - 3,198 Vacant land 13,992 50 37 - - 14,079 Real estate secured 737,685 21,577 26,255 - - 785,517 Commercial and industrial 224,906 1,271 632 339 - 227,148 Municipal 21,512 - - - - 21,512 Consumer 7,660 - 27 - - 7,687 Loans receivable, gross $ 991,763 $ 22,848 $ 26,914 $ 339 $ - $ 1,041,864
composition of loans receivable by delinquency status	The composition of loans receivable by delinquency status Past due 180 30 Accruing (in thousands) days days 90 days 30-59 60-89 90-179 and and and Non- Current days days days over over over accrual September 30, 2021 Residential 1-4 family $ 368,034 $ 167 $ 84 $ 442 $ 74 $ 767 $ - $ 1,235 Residential 5+ multifamily 45,376 - - - 861 861 - 861 Construction of residential 1-4 family 15,429 - - - - - - - Home equity lines of credit 23,831 105 14 - 51 170 - 86 Residential real estate 452,670 272 98 442 986 1,798 - 2,182 Commercial 314,342 200 24 - 254 478 - 1,954 Construction of commercial 47,145 - - - - - - - Commercial real estate 361,487 200 24 - 254 478 - 1,954 Farm land 3,279 130 - - - 130 - 576 Vacant land 13,663 35 - - - 35 - 35 Real estate secured 831,099 637 122 442 1,240 2,441 - 4,747 Commercial and industrial 207,792 289 53 - 46 388 11 243 Municipal 18,061 - - - - - - - Consumer 11,108 4 40 - - 44 - - Loans receivable, gross $ 1,068,060 $ 930 $ 215 $ 442 $ 1,286 $ 2,873 $ 11 $ 4,990 Past due 180 30 Accruing (in thousands) days days 90 days 30-59 60-89 90-179 and and and Non- Current days days days over over over accrual December 31, 2020 Residential 1-4 family $ 349,382 $ 1,419 $ 308 $ 673 $ 219 $ 2,619 $ - $ 1,508 Residential 5+ multifamily 36,197 - - - 861 861 - 861 Construction of residential 1-4 family 8,814 - - - - - - - Home equity lines of credit 27,522 157 9 - 116 282 - 154 Residential real estate 421,915 1,576 317 673 1,196 3,762 - 2,523 Commercial 307,927 1,855 530 95 434 2,914 - 2,544 Construction of commercial 31,722 - - - - - - - Commercial real estate 339,649 1,855 530 95 434 2,914 - 2,544 Farm land 2,594 154 450 - - 604 - 158 Vacant land 14,079 - - - - - - 37 Real estate secured 778,237 3,585 1,297 768 1,630 7,280 - 5,262 Commercial and industrial 224,496 2,148 457 1 46 2,652 12 374 Municipal 21,512 - - - - - - - Consumer 7,677 10 - - - 10 - - Loans receivable, gross $ 1,031,922 $ 5,743 $ 1,754 $ 769 $ 1,676 $ 9,942 $ 12 $ 5,636
Changes in the allowance for loan losses	Changes in the allowance for loan losses Three months ended September 30, 2021 Three months ended September 30, 2020 (in thousands) Beginning balance Provision (Benefit) Charge- offs Reco- veries Ending balance Beginning balance Provision (Benefit) Charge- offs Reco- veries Ending balance Residential 1-4 family $ 2,377 $ 393 $ (35 ) $ 5 $ 2,740 $ 3,048 $ 69 $ (11 ) $ 1 $ 3,107 Residential 5+ multifamily 545 156 - - 701 589 14 - - 603 Construction of residential 1-4 family 95 41 - - 136 87 10 - - 97 Home equity lines of credit 190 26 (20 ) - 196 283 (8 ) - - 275 Residential real estate 3,207 616 (55 ) 5 3,773 4,007 85 (11 ) 1 4,082 Commercial 6,212 (165 ) - 119 6,166 5,160 317 (14 ) 1 5,464 Construction of commercial 668 118 - - 786 205 195 - - 400 Commercial real estate 6,880 (47 ) - 119 6,952 5,365 512 (14 ) 1 5,864 Farm land 32 (1 ) - - 31 60 5 - - 65 Vacant land 87 (1 ) - 1 87 182 (11 ) - - 171 Real estate secured 10,206 567 (55 ) 125 10,843 9,614 591 (25 ) 2 10,182 Commercial and industrial 1,256 73 - 3 1,332 1,515 (44 ) - 1 1,472 Municipal 32 (1 ) - - 31 36 5 - - 41 Consumer 66 62 (19 ) 6 115 74 40 (41 ) 7 80 Unallocated 1,148 (301 ) - - 847 1,132 94 - - 1,226 Totals $ 12,708 $ 400 $ (74 ) $ 134 $ 13,168 $ 12,371 $ 686 $ (66 ) $ 10 $ 13,001 Nine months ended September 30, 2021 Nine months ended September 30, 2020 (in thousands) Beginning balance Provision (Benefit) Charge- offs Reco- veries Ending balance Beginning balance Provision (Benefit) Charge- offs Reco- veries Ending balance Residential 1-4 family $ 2,646 $ 129 $ (44 ) $ 9 $ 2,740 $ 2,393 $ 716 $ (11 ) $ 9 $ 3,107 Residential 5+ multifamily 686 15 - - 701 446 199 (42 ) - 603 Construction of residential 1-4 family 65 71 - - 136 75 22 - - 97 Home equity lines of credit 252 (36 ) (20 ) - 196 197 78 - - 275 Residential real estate 3,649 179 (64 ) 9 3,773 3,111 1,015 (53 ) 9 4,082 Commercial 6,546 (509 ) (7 ) 136 6,166 3,742 1,719 (17 ) 20 5,464 Construction of commercial 596 208 (18 ) - 786 104 296 - - 400 Commercial real estate 7,142 (301 ) (25 ) 136 6,952 3,846 2,015 (17 ) 20 5,864 Farm land 59 ( ) - - 31 47 18 - - 65 Vacant land 180 (94 ) - 1 87 71 100 - - 171 Real estate secured 11,030 (244 ) (89 ) 146 10,843 7,075 3,148 (70 ) 29 10,182 Commercial and industrial 1,397 17 (131 ) 49 1,332 1,145 326 - 1 1,472 Municipal 43 (12 ) - - 31 46 (5 ) - - 41 Consumer 77 82 (34 ) (10 ) 115 60 72 (66 ) 14 80 Unallocated 1,207 (360 ) - - 847 569 657 - - 1,226 Totals $ 13,754 $ (517 ) $ (254 ) $ 185 $ 13,168 $ 8,895 $ 4,198 $ (136 ) $ 44 $ 13,001
composition of loans receivable and the allowance for loan losses	The composition of loans receivable and the allowance for loan losses (in thousands) Collectively evaluated Individually evaluated Total portfolio Loans Allowance Loans Allowance Loans Allowance September 30, 2021 Residential 1-4 family $ 365,721 $ 2,737 $ 3,080 $ 3 $ 368,801 $ 2,740 Residential 5+ multifamily 45,283 701 954 - 46,237 701 Construction of residential 1-4 family 15,429 136 - - 15,429 136 Home equity lines of credit 23,915 196 86 - 24,001 196 Residential real estate 450,348 3,770 4,120 3 454,468 3,773 Commercial 310,947 6,123 3,873 43 314,820 6,166 Construction of commercial 47,145 786 - - 47,145 786 Commercial real estate 358,092 6,909 3,873 43 361,965 6,952 Farm land 2,833 31 576 - 3,409 31 Vacant land 13,663 87 35 - 13,698 87 Real estate secured 824,936 10,797 8,604 46 833,540 10,843 Commercial and industrial 207,859 1,288 321 44 208,180 1,332 Municipal 18,061 31 - - 18,061 31 Consumer 11,134 115 18 - 11,152 115 Unallocated allowance - 847 - - - 847 Totals $ 1,061,990 $ 13,078 $ 8,943 $ 90 $ 1,070,933 $ 13,168 (in thousands) Collectively evaluated Individually evaluated Total portfolio Loans Allowance Loans Allowance Loans Allowance December 31, 2020 Residential 1-4 family $ 347,695 $ 2,445 $ 4,306 $ 201 $ 352,001 $ 2,646 Residential 5+ multifamily 36,094 686 964 - 37,058 686 Construction of residential 1-4 family 8,814 65 - - 8,814 65 Home equity lines of credit 27,650 232 154 20 27,804 252 Residential real estate 420,253 3,428 5,424 221 425,677 3,649 Commercial 305,193 6,298 5,648 248 310,841 6,546 Construction of commercial 31,722 596 - - 31,722 596 Commercial real estate 336,915 6,894 5,648 248 342,563 7,142 Farm land 3,040 59 158 - 3,198 59 Vacant land 13,912 178 167 2 14,079 180 Real estate secured 774,120 10,559 11,397 471 785,517 11,030 Commercial and industrial 226,662 1,223 486 174 227,148 1,397 Municipal 21,512 43 - - 21,512 43 Consumer 7,661 59 26 18 7,687 77 Unallocated allowance - 1,207 - - - 1,207 Totals $ 1,029,955 $ 13,091 $ 11,909 $ 663 $ 1,041,864 $ 13,754
credit quality segments of loans receivable and the allowance for loan losses	The credit quality segments of loans receivable and the allowance for loan losses September 30, 2021 (in thousands) Collectively evaluated Individually evaluated Total portfolio Loans Allowance Loans Allowance Loans Allowance Performing loans $ 1,025,195 $ 9,490 $ - $ - $ 1,025,195 $ 9,490 Potential problem loans 1 36,795 2,741 - - 36,795 2,741 Impaired loans - - 8,943 90 8,943 90 Unallocated allowance - 847 - - - 847 Totals $ 1,061,990 $ 13,078 $ 8,943 $ 90 $ 1,070,933 $ 13,168 December 31, 2020 (in thousands) Collectively evaluated Individually evaluated Total portfolio Loans Allowance Loans Allowance Loans Allowance Performing loans $ 1,011,757 $ 10,424 $ - $ - $ 1,011,757 $ 10,424 Potential problem loans 1 18,198 1,460 - - 18,198 1,460 Impaired loans - - 11,909 663 11,909 663 Unallocated allowance - 1,207 - - - 1,207 Totals $ 1,029,955 $ 13,091 $ 11,909 $ 663 $ 1,041,864 $ 13,754
Certain data with respect to loans individually evaluated for impairment	A specific valuation allowance is established for the impairment amount of each impaired loan, calculated using the present value of expected cash flows or fair value of collateral, in accordance with the most likely means of recovery. Certain data with respect to loans individually evaluated for impairment Impaired loans with specific allowance Impaired loans with no specific allowance (in thousands) Loan balance Specific Income Loan balance Income Book Note Average allowance recognized Book Note Average recognized September 30, 2021 Residential $ 45 $ 47 $ 1,120 $ 3 $ 2 $ 3,989 $ 4,404 $ 3,642 $ 52 Home equity lines of credit - - 22 - - 86 127 156 - Residential real estate 45 47 1,142 3 2 4,075 4,531 3,798 52 Commercial 1,007 1,033 1,921 43 33 2,866 3,377 3,002 47 Construction of commercial - - - - - - - - - Farm land - - - - - 576 756 415 - Vacant land - - 73 - - 35 39 52 - Real estate secured 1,052 1,080 3,136 46 35 7,552 8,703 7,267 99 Commercial and industrial 221 228 336 44 3 100 270 91 - Consumer - - 8 - - 18 18 15 1 Totals $ 1,273 $ 1,308 $ 3,480 $ 90 $ 38 $ 7,670 $ 8,991 $ 7,373 $ 100 Note: The income recognized is for the nine month period ended September 30, 2021. Impaired loans with specific allowance Impaired loans with no specific allowance (in thousands) Loan balance Specific Income Loan balance Income Book Note Average allowance recognized Book Note Average recognized September 30, 2020 Residential $ 3,854 $ 3,972 $ 4,034 $ 383 $ 67 $ 1,959 $ 2,335 $ 1,912 $ 20 Home equity lines of credit 75 75 77 14 - 158 507 111 1 Residential real estate 3,929 4,047 4,111 397 67 2,117 2,842 2,023 21 Commercial 3,099 3,148 3,401 270 104 1,298 1,940 978 31 Construction of commercial - - - - - - - - - Farm land - - - - - 166 322 177 - Vacant land 38 40 40 3 - 132 148 136 7 Real estate secured 7,066 7,235 7,552 670 171 3,713 5,252 3,314 59 Commercial and industrial 824 827 422 380 3 52 205 59 2 Consumer 30 30 33 18 1 - - - - Totals $ 7,920 $ 8,092 $ 8,007 $ 1,068 $ 175 $ 3,765 $ 5,457 $ 3,373 $ 61 Note: The income recognized is for the nine month period ended September 30, 2020. Impaired loans with specific allowance Impaired loans with no specific allowance (in thousands) Loan balance Loan balance Recorded Investment Note Average Specific allowance Income recognized Recorded Investment Note Average Income recognized December 31, 2020 Residential $ 2,971 $ 3,040 $ 3,862 $ 201 $ 72 $ 2,299 $ 2,676 $ 1,993 $ 27 Home equity lines of credit 75 75 76 20 - 79 117 103 - Residential real estate 3,046 3,115 3,938 221 72 2,378 2,793 2,096 27 Commercial 3,058 3,117 3,325 248 132 2,590 3,203 1,139 91 Construction of commercial - - - - - - - - - Farm land - - - - - 158 319 173 - Vacant land 37 40 39 2 - 130 145 134 9 Real estate secured 6,141 6,272 7,302 471 204 5,256 6,460 3,542 127 Commercial and industrial 416 424 482 174 4 70 283 58 2 Consumer 26 26 31 18 2 - - - - Totals $ 6,583 $ 6,722 $ 7,815 $ 663 $ 210 $ 5,326 $ 6,743 $ 3,600 $ 129

NOTE 4 - LEASES (Tables)

NOTE 4 - LEASES (Tables)	9 Months Ended
	Sep. 30, 2021
Note 4 - Leases
assets and liabilities as well as the costs of operating and finance leases that are included in the Bank's consolidated balance sheet as of September 30, 2021 and December 31, 2020 and consolidated income statements for the nine months and three months ended September 30, 2021 and 2020	The following table provides the assets and liabilities as well as the costs of operating and finance leases that are included in the Bank's consolidated balance sheet as of September 30, 2021 and December 31, 2020 and consolidated income statements for the nine months and three months ended September 30, 2021 and 2020 ($ in thousands, except lease term and discount rate) Classification September 30, 2021 December 31, 2020 Assets Operating Other assets $ 1,076 $ 1,182 Finance Bank premises and equipment 1 1,326 1,402 Total Leased Assets $ 2,402 $ 2,584 Liabilities Operating Other liabilities $ 1,076 $ 1,182 Finance Finance lease 1,631 1,673 Total Lease Liabilities $ 2,707 $ 2,855 1 Net of accumulated depreciation of $471 thousand and $396 thousand, respectively. Lease Cost Classification Nine months ended September 30, 2021 Three months ended September 30, 2021 Operating leases Premises and equipment $ 221 $ 74 Finance leases: Amortization of leased assets Premises and equipment 76 25 Interest on finance leases Interest expense 103 36 Total lease cost $ 400 $ 135 Lease Cost Classification Nine months ended September 30, 2020 Three months ended September 30, 2020 Operating leases Premises and equipment $ 188 $ 64 Finance leases: Amortization of leased assets Premises and equipment 76 25 Interest on finance leases Interest expense 107 36 Total lease cost $ 371 $ 125 Weighted Average Remaining Lease Term September 30, 2021 December 31, 2020 Operating leases 7.0 years 7.6 years Financing leases 13.7 years 14.2 years Weighted Average Discount Rate 1 Operating leases 3.6 % 3.7 % Financing leases 8.3 % 8.4 % 1 Salisbury uses the applicable FHLBB Advance rate as the discount rate, as its leases do not provide an implicit rate.
schedule by years of the present value of the net minimum lease payments	The following is a schedule by years of the present value of the net minimum lease payments Future minimum lease payments (in thousands) Operating Leases Finance Leases 2021 $ 64 $ 48 2022 227 195 2023 167 198 2024 130 200 2025 137 203 Thereafter 437 1,752 Total future minimum lease payments 1,162 2,596 Less amount representing interest (86 ) (965 ) Total present value of net future minimum lease payments $ 1,076 $ 1,631

NOTE 6 - MORTGAGE SERVICING R_2

NOTE 6 - MORTGAGE SERVICING RIGHTS (Tables)	9 Months Ended
	Sep. 30, 2021
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Abstract]
Schedule of Participating Mortgage Loans [Table Text Block]	(in thousands) September 30, 2021 December 31, 2020 Residential mortgage loans serviced for others $ 142,873 $ 134,428 Fair value of mortgage servicing rights 999 762
Changes in mortgage servicing rights	Changes in mortgage servicing rights Three months ended Nine months ended Periods ended September 30, (in thousands) 2021 2020 2021 2020 Mortgage Servicing Rights Balance, beginning of period $ 748 $ 353 $ 621 $ 238 Originated 18 270 276 413 Amortization (1) (36 ) (56 ) (167 ) (84 ) Balance, end of period $ 730 $ 567 $ 730 $ 567 Valuation Allowance Balance, beginning of period - - (9 ) - Decrease in impairment reserve (1) - - 9 - Balance, end of period - - - - Mortgage servicing rights, net $ 730 $ 567 $ 730 $ 567 (1) Amortization expense and changes in the impairment reserve are recorded in mortgage servicing, net.

NOTE 7 - PLEDGED ASSETS (Tables

NOTE 7 - PLEDGED ASSETS (Tables)	9 Months Ended
	Sep. 30, 2021
Guarantees and Product Warranties [Abstract]
The following securities and loans were pledged to secure public and trust deposits, securities sold under agreements to repurchase, FHLBB advances and credit facilities available	The following securities and loans were pledged to secure public and trust deposits, securities sold under agreements to repurchase, FHLBB advances and credit facilities available (in thousands) September 30, 2021 December 31, 2020 Securities available-for-sale (at fair value) $ 66,877 $ 54,581 Loans receivable (at book value) 382,840 420,415 Total pledged assets $ 449,717 $ 474,996

NOTE 8 - DERIVATIVES AND HEDG_2

NOTE 8 - DERIVATIVES AND HEDGING ACTIVITIES (Tables)	9 Months Ended
	Sep. 30, 2021
Derivative Instruments and Hedging Activities Disclosure [Abstract]
the following amounts were recorded on the balance sheet related to cumulative basis adjustment for fair value hedges	As of September 30, 2021 and December 31, 2020, the following amounts were recorded on the balance sheet related to cumulative basis adjustment for fair value hedges Line Item in the Statement of Financial Position in Which the Hedged Item is Included Carrying Amount of the Cumulative Amount of Fair Value Hedging Adjustment Included in the Carrying Amount of the Hedged Assets (in thousands) September 30, 2021 December 31, 2020 September 30, 2021 December 31, 2020 Loans receivable (1) $ 9,996 $ 9,996 $ (4 ) $ (4 ) Total $ 9,996 $ 9,996 $ (4 ) $ (4 ) (1)
fair value of Salisbury's derivative financial instrument and its classification on the Balance Sheet	The table below presents the fair value of Salisbury's derivative financial instrument and its classification on the Balance Sheet As of September 30, 2021 As of December 31, 2020 (in thousands) Notional Amount Balance Sheet Location Fair Value Balance Sheet Location Fair Value Derivatives designated as hedge instruments Interest Rate Products $ 10,000 Other assets $ 4 Other Assets $ 4 Total Derivatives designated as hedge instruments $ 4 $ 4
effect of the Company's derivative financial instruments on the Income Statement	The tables below present the effect of the Company's derivative financial instruments on the Income Statement Three months ended September 30, 2021 Nine months ended September 30, 2021 (in thousands) Interest Interest Interest Interest Total amounts of income and expense line items presented in the statement of financial performance in which the effects of fair value or cash flow hedges are recorded $ 1 $ - $ - $ - Gain or (loss) on fair value hedging relationships in Subtopic 815-20 Interest contracts Hedged items 4 - 3 - Derivatives designated as hedging instruments $ (3 ) $ - $ (3 ) $ - Three months ended September 30, 2020 Nine months ended September 30, 2020 (in thousands) Interest Interest Interest Interest Total amounts of income and expense line items presented in the statement of financial performance in which the effects of fair value or cash flow hedges are recorded $ - $ - $ - $ - Gain or (loss) on fair value hedging relationships in Subtopic 815-20 Interest contracts Hedged items 3 - - 3 Derivatives designated as hedging instruments $ (3 ) $ - $ - $ (3 )

NOTE 9 - EARNINGS PER SHARE (Ta

NOTE 9 - EARNINGS PER SHARE (Tables)	9 Months Ended
	Sep. 30, 2021
Earnings Per Share [Abstract]
computation of earnings per share (basic and diluted)	The following table sets forth the computation of earnings per share (basic and diluted) Three months ended Nine months ended Periods ended September 30, (in thousands, except per share data) 2021 2020 2021 2020 Net income $ 3,453 $ 4,356 $ 12,332 $ 9,137 Less: Undistributed earnings allocated to participating securities (53 ) (67 ) (184 ) (131 ) Net income allocated to common stock $ 3,400 $ 4,288 $ 12,148 $ 9,006 Weighted-average common shares issued 2,862 2,843 2,853 2,835 Less: Unvested restricted stock awards (45 ) (44 ) (43 ) (41 ) Weighted average common shares outstanding used to calculate basic earnings per common share 2,817 2,799 2,810 2,794 Add: Dilutive effect of stock options 26 8 20 8 Weighted-average common shares outstanding used to calculate diluted earnings per common share 2,843 2,807 2,830 2,802 Earnings per common share (basic) $ 1.21 $ 1.53 $ 4.32 $ 3.22 Earnings per common share (diluted) $ 1.20 $ 1.53 $ 4.30 $ 3.21

NOTE 10 - SHAREHOLDERS' EQUITY

NOTE 10 - SHAREHOLDERS' EQUITY (Tables)	9 Months Ended
	Sep. 30, 2021
Equity [Abstract]
Actual regulatory capital position and minimum capital requirements	The Bank's risk-weighted assets at September 30, 2021 and December 31, 2020 were $ 1.05 938.0 Actual regulatory capital position and minimum capital requirements Actual Minimum Capital Required For Capital Adequacy Minimum Capital Required For Capital Adequacy Plus Required Capital Conservation Buffer Minimum To Be Well Capitalized Under Prompt Corrective Action Provisions (dollars in thousands) Amount Ratio Amount Ratio Amount Ratio Amount Ratio September 30, 2021 Total Capital (to risk-weighted assets) $ 149,213 14.20 % $ 84,080 8.0 % $ 110,355 10.5 % $ 105,100 10.0 % Tier 1 Capital (to risk-weighted assets) 136,074 12.95 63,060 6.0 89,335 8.5 84,080 8.0 Common Equity Tier 1 Capital (to risk-weighted assets) 136,074 12.95 47,295 4.5 73,570 7.0 68,315 6.5 Tier 1 Capital (to average assets) $ 136,074 9.31 $ 58,451 4.0 $ 58,451 4.0 $ 73,063 5.0 December 31, 2020 Total Capital (to risk-weighted assets) $ 127,254 13.57 % $ 75,037 8.0 % $ 98,486 10.5 % $ 93,796 10.0 % Tier 1 Capital (to risk-weighted assets) 115,503 12.31 56,278 6.0 79,727 8.5 75,037 8.0 Common Equity Tier 1 Capital (to risk-weighted assets) 115,503 12.31 42,208 4.5 66,657 7.0 60,967 6.5 Tier 1 Capital (to average assets) $ 115,503 8.90 $ 51,907 4.0 $ 51,907 4.0 $ 64,884 5.0

NOTE 13 - FAIR VALUE OF ASSET_2

NOTE 13 - FAIR VALUE OF ASSETS AND LIABILITIES (Tables)	9 Months Ended
	Sep. 30, 2021
Fair Value Disclosures [Abstract]
Assets measured at fair value	Assets measured at fair value Fair Value Measurements Using Assets and Liabilities at (in thousands) Level 1 Level 2 Level 3 fair value September 30, 2021 Assets at fair value on a recurring basis U.S. Treasury $ - $ 10,302 $ - $ 10,302 U.S. Government Agency notes - 32,274 - 32,274 Municipal bonds - 39,605 - 39,605 Mortgage-backed securities: U.S. Government agencies and U.S. Government-sponsored enterprises - 67,179 - 67,179 Collateralized mortgage obligations: U.S. Government agencies - 15,011 - 15,011 Corporate bonds - 11,197 - 11,197 Securities available-for-sale $ - $ 175,568 $ - $ 175,568 CRA mutual funds $ 907 $ - $ - $ 907 Derivative financial instruments $ - $ 4 $ - $ 4 Assets at fair value on a non-recurring basis Assets held for sale 1 $ 700 $ - $ - $ 700 December 31, 2020 Assets at fair value on a recurring basis U.S. Government Agency notes $ - $ 7,851 $ - $ 7,851 Municipal bonds - 27,617 - 27,617 Mortgage-backed securities: U.S. Government agencies and U.S. Government-sponsored enterprises - 36,573 - 36,573 Collateralized mortgage obligations: U.S. Government agencies - 17,454 - 17,454 Corporate bonds - 8,916 - 8,916 Securities available-for-sale $ - $ 98,411 $ - $ 98,411 CRA mutual funds $ 917 $ - $ - $ 917 Derivative financial instruments $ - $ 4 $ - $ 4
Carrying values and estimated fair values of financial instruments	Carrying values and estimated fair values of financial instruments (in thousands) Carrying Estimated Fair value measurements using value fair value Level 1 Level 2 Level 3 September 30, 2021 Financial Assets Cash and cash equivalents $ 166,295 $ 166,295 $ 166,295 $ - $ - Interest bearing time deposits with financial institutions 750 750 750 - - Securities available-for-sale 175,568 175,568 - 175,568 - CRA mutual fund 907 907 907 - - Federal Home Loan Bank of Boston stock 1,504 1,504 1,504 - - Loans held-for-sale 639 649 - - 649 Loans receivable, net 1,057,451 1,051,127 - - 1,051,127 Accrued interest receivable 5,932 5,932 5,932 - - Derivative financial instruments 4 4 - 4 - Cash surrender value of life insurance policies 25,067 25,067 25,067 - - Financial Liabilities Demand (non-interest-bearing) $ 392,322 $ 392,322 $ - $ 392,322 $ - Demand (interest-bearing) 220,533 220,533 - 220,533 - Money market 328,392 328,392 - 328,392 - Savings and other 224,286 224,286 - 224,286 - Certificates of deposit 124,095 124,946 - 124,946 - Deposits 1,289,628 1,290,747 - 1,290,747 - Repurchase agreements 10,450 10,450 - 10,450 - FHLBB advances 8,905 9,000 - 9,000 - Subordinated debt 24,460 24,276 - 24,276 - Note payable 180 181 - 181 - Finance lease liability 1,631 1,732 - - 1,732 Accrued interest payable 34 34 34 - - December 31, 2020 Financial Assets Cash and cash equivalents $ 93,162 $ 93,162 $ 93,162 $ - $ - Interest bearing time deposits with financial institutions 750 750 750 - - Securities available-for-sale 98,411 98,411 - 98,411 - CRA mutual fund 917 917 917 - - Federal Home Loan Bank of Boston stock 1,713 1,713 1,713 - - Loans held-for-sale 2,735 2,790 - - 2,790 Loans receivable, net 1,027,738 1,057,234 - - 1,057,234 Accrued interest receivable 6,373 6,373 6,373 - - Cash surrender value of life insurance policies 21,182 21,182 21,182 - - Derivative financial instruments 4 4 - 4 - Financial Liabilities Demand (non-interest-bearing) $ 310,769 $ 310,769 $ - $ 310,769 $ - Demand (interest-bearing) 218,869 218,869 - 218,869 - Money market 278,146 278,146 - 278,146 - Savings and other 189,776 189,776 - 189,776 - Certificates of deposit 131,514 132,875 - 132,875 - Deposits 1,129,074 1,130,435 - 1,130,435 - Repurchase agreements 7,116 7,116 - 7,116 - FHLBB advances 12,639 12,786 - 12,786 - Subordinated debt 9,883 10,027 - 10,027 - Note payable 208 212 - 212 - Finance lease liability 1,673 1,920 - - 1,920 Accrued interest payable 43 43 43 - -

composition of securities (Deta

composition of securities (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Debt Securities, Available-for-sale, Cost of Security Sold or Transferred, Method, Specific Identification [Member]
Available-for-sale
U.S. Treasury	$ 10,397
U.S. Government Agency notes	32,093	$ 7,735
Municipal bonds	38,525	25,831
U.S. Government agencies and U.S. Government - sponsored enterprises	67,059	35,240
U.S. Government agencies	14,844	17,054
Corporate bonds	11,000	8,750
Total securities available-for-sale	173,918	94,610
Non-marketable securities
Federal Home Loan Bank of Boston stock	1,504	1,713
AOCI, Accumulated Gain (Loss), Debt Securities, Available-for-sale, Parent [Member]
Available-for-sale
U.S. Treasury
U.S. Government Agency notes	280	153
Municipal bonds	1,331	1,787
U.S. Government agencies and U.S. Government - sponsored enterprises	818	1,376
U.S. Government agencies	208	400
Corporate bonds	197	166
Total securities available-for-sale	2,834	3,882
Non-marketable securities
Federal Home Loan Bank of Boston stock
Accumulated Net Unrealized Investment Gain Loss 1 [Member]
Available-for-sale
U.S. Treasury	95
U.S. Government Agency notes	99	37
Municipal bonds	251	1
U.S. Government agencies and U.S. Government - sponsored enterprises	698	43
U.S. Government agencies	41
Corporate bonds
Total securities available-for-sale	1,184	81
Non-marketable securities
Federal Home Loan Bank of Boston stock
Securities Financing Transaction, Fair Value [Member]
Available-for-sale
U.S. Treasury	10,302
U.S. Government Agency notes	32,274	7,851
Municipal bonds	39,605	27,617
U.S. Government agencies and U.S. Government - sponsored enterprises	67,179	36,573
U.S. Government agencies	15,011	17,454
Corporate bonds	11,197	8,916
Total securities available-for-sale	175,568	98,411
CRA mutual fund	907	917
Non-marketable securities
Federal Home Loan Bank of Boston stock	$ 1,504	$ 1,713

aggregate fair value and gross

aggregate fair value and gross unrealized loss of securities that have been in a continuous unrealized loss position (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Aggregate Fair Value Gross Unrealized Loss Of Securities Less Than 12 Months Fair Value [Member]
Available-for-sale
U.S. Treasury	$ 10,302
U.S. Government Agency notes	20,550	$ 2,553
Municipal bonds	13,980	558
U.S. Government agencies and U.S. Government - sponsored enterprises	42,471	3,761
Collateralized mortgage obligations	4,625
Corporate bonds
Total temporarily impaired securities	91,928	6,872
Aggregate Fair Value Gross Unrealized Loss Of Securities Less Than 12 Months Unrealized Losses [Member]
Available-for-sale
U.S. Treasury	95
U.S. Government Agency notes	80	36
Municipal bonds	251	1
U.S. Government agencies and U.S. Government - sponsored enterprises	647	42
Collateralized mortgage obligations	66
Corporate bonds
Total temporarily impaired securities	1,139	79
Aggregate Fair Value Gross Unrealized Loss Of Securities 12 Months Or Longer Fair Value [Member]
Available-for-sale
U.S. Treasury
U.S. Government Agency notes	1,125	20
Municipal bonds
U.S. Government agencies and U.S. Government - sponsored enterprises	1,398	45
Collateralized mortgage obligations
Corporate bonds
Total temporarily impaired securities	2,523	65
Aggregate Fair Value Gross Unrealized Loss Of Securities 12 Months Or Longer Unrealized Losses [Member]
Available-for-sale
U.S. Treasury
U.S. Government Agency notes	19	1
Municipal bonds
U.S. Government agencies and U.S. Government - sponsored enterprises	26	1
Collateralized mortgage obligations
Corporate bonds
Total temporarily impaired securities	45	2
Aggregate Fair Value Gross Unrealized Loss Of Securities Total Fair Value [Member]
Available-for-sale
U.S. Treasury	10,302
U.S. Government Agency notes	21,675	2,573
Municipal bonds	13,980	558
U.S. Government agencies and U.S. Government - sponsored enterprises	43,869	3,806
Collateralized mortgage obligations	4,625
Corporate bonds
Total temporarily impaired securities	94,451	6,937
Aggregate Fair Value Gross Unrealized Loss Of Securities Total Unrealized Losses [Member]
Available-for-sale
U.S. Treasury	95
U.S. Government Agency notes	99	37
Municipal bonds	251	1
U.S. Government agencies and U.S. Government - sponsored enterprises	698	43
Collateralized mortgage obligations	41
Corporate bonds
Total temporarily impaired securities	$ 1,184	$ 81

amortized cost, fair value and

amortized cost, fair value and tax equivalent yield of securities, by maturity (Details) $ in Thousands	9 Months Ended
	Sep. 30, 2021USD ($)
U S Treasury 1 [Member]
Summary of Investment Holdings [Line Items]
Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, Amortized Cost	$ 10,397
Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, Fair Value	$ 10,302
Receivable with Imputed Interest, Effective Yield (Interest Rate)	1.15%
U S Government Agency Notes 2 [Member]
Summary of Investment Holdings [Line Items]
Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, Amortized Cost	$ 15,902
Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, Fair Value	$ 15,848
Receivable with Imputed Interest, Effective Yield (Interest Rate)	1.23%
U S Government Agency Notes Total [Member]
Summary of Investment Holdings [Line Items]
Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, Amortized Cost	$ 26,299
Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, Fair Value	$ 26,150
Receivable with Imputed Interest, Effective Yield (Interest Rate)	1.20%
U S States And Political Subdivisions 2 [Member]
Summary of Investment Holdings [Line Items]
Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, Amortized Cost	$ 3,594
Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, Fair Value	$ 3,820
Receivable with Imputed Interest, Effective Yield (Interest Rate)	2.80%
U S States And Political Subdivisions 3 [Member]
Summary of Investment Holdings [Line Items]
Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, Amortized Cost	$ 34,931
Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, Fair Value	$ 35,785
Receivable with Imputed Interest, Effective Yield (Interest Rate)	2.61%
U S States And Political Subdivisions Total [Member]
Summary of Investment Holdings [Line Items]
Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, Amortized Cost	$ 38,525
Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, Fair Value	$ 39,605
Receivable with Imputed Interest, Effective Yield (Interest Rate)	2.63%
Corporate Debt Securities [Member]
Summary of Investment Holdings [Line Items]
Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, Amortized Cost	$ 11,000
Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, Fair Value	$ 11,197
Receivable with Imputed Interest, Effective Yield (Interest Rate)	4.61%
Available-for-sale Securities [Member]
Summary of Investment Holdings [Line Items]
Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, Amortized Cost	$ 173,918
Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, Fair Value	$ 175,568
Receivable with Imputed Interest, Effective Yield (Interest Rate)	2.04%

NOTE 2 - SECURITIES (Details Na

NOTE 2 - SECURITIES (Details Narrative) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Investments, Debt and Equity Securities [Abstract]
Availble-for-sale securities called	$ 7,000,000		$ 8,500,000	$ 655,000
Pre-tax gain (loss) realized on available-for-sale securities sold	7,000	$ 34,000	2,000	(216,000)
Related tax benefit (expense) on available-for-sale securities sold	(1,400,000)	(7,000,000)	400	(45,000,000)
Available-for-sale securities sold		1,900,000	3,300,000	12,500,000
Pre-tax gain (loss) realized on available-for-sale securities sold	$ (7,000)	$ (34,000)	$ (2,000)	$ 216,000

composition of loans receivable

composition of loans receivable and loans held-for-sale (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Receivables [Abstract]
Residential 1-4 family	$ 368,801	$ 352,001
Residential 5+ multifamily	46,237	37,058
Construction of residential 1-4 family	15,429	8,814
Home equity lines of credit	24,001	27,804
Residential real estate	454,468	425,677
Commercial	314,820	310,841
Construction of commercial	47,145	31,722
Commercial real estate	361,965	342,563
Farm land	3,409	3,198
Vacant land	13,698	14,079
Real estate secured	833,540	785,517
Commercial and industrial ex PPP Loans	167,528	140,516
PPP Loans	40,652	86,632
Total Commercial and industrial	208,180	227,148
Municipal	18,061	21,512
Consumer	11,152	7,687
Loans receivable, gross	1,070,933	1,041,864
Deferred loan origination fees, net	(314)	(372)
Allowance for loan losses	(13,168)	(13,754)
Loans receivable, net	1,057,451	1,027,738
Loans held-for-sale
Residential 1-4 family	$ 639	$ 2,735

composition of loans receivab_2

composition of loans receivable by risk rating grade (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Sep. 30, 2021	Dec. 31, 2020
Financing Receivable, Credit Quality Indicator [Line Items]
Residential 1-4 family		$ 368,801	$ 352,001
Residential 5+ multifamily		46,237	37,058
Construction of residential 1-4 family		15,429	8,814
Home equity lines of credit		24,001	27,804
Residential real estate		454,468	425,677
Commercial		314,820	310,841
Construction of commercial		47,145	31,722
Commercial real estate		361,965	342,563
Farm land		3,409	3,198
Vacant land		13,698	14,079
Real estate secured		833,540	785,517
Commercial and industrial		208,180	227,148
Municipal		18,061	21,512
Consumer		11,152	7,687
Loans receivable, gross		1,070,933	1,041,864
Pass [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Residential 1-4 family		361,116	342,243
Residential 5+ multifamily		44,484	35,272
Construction of residential 1-4 family		15,301	8,814
Home equity lines of credit		23,706	27,393
Residential real estate		444,607	413,722
Commercial		274,004	276,866
Construction of commercial		47,145	31,493
Commercial real estate		321,149	308,359
Farm land		1,610	1,612
Vacant land		13,621	13,992
Real estate secured		780,987	737,685
Commercial and industrial		205,140	224,906
Municipal		18,061	21,512
Consumer		11,132	7,660
Loans receivable, gross		1,015,320	991,763
Special Mention [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Residential 1-4 family		4,139	5,615
Residential 5+ multifamily		83	90
Construction of residential 1-4 family		128
Home equity lines of credit		209	257
Residential real estate		4,559	5,962
Commercial		5,654	15,565
Construction of commercial
Commercial real estate		5,654	15,565
Farm land		1,223
Vacant land		42	50
Real estate secured		11,478	21,577
Commercial and industrial		500	1,271
Municipal
Consumer		1
Loans receivable, gross		11,979	22,848
Substandard [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Residential 1-4 family		3,546	4,143
Residential 5+ multifamily		1,670	1,696
Construction of residential 1-4 family
Home equity lines of credit		86	154
Residential real estate		5,302	5,993
Commercial		35,162	18,410
Construction of commercial			229
Commercial real estate		35,162	18,639
Farm land		576	1,586
Vacant land		35	37
Real estate secured		41,075	26,255
Commercial and industrial		2,540	632
Municipal
Consumer		19	27
Loans receivable, gross		43,634	26,914
Doubtful [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Residential 1-4 family
Residential 5+ multifamily
Construction of residential 1-4 family
Home equity lines of credit
Residential real estate
Commercial
Construction of commercial
Commercial real estate
Farm land
Vacant land
Real estate secured
Commercial and industrial			339
Municipal
Consumer
Loans receivable, gross			339
Unlikely to be Collected Financing Receivable [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Residential 1-4 family
Residential 5+ multifamily
Construction of residential 1-4 family
Home equity lines of credit
Residential real estate
Commercial
Construction of commercial
Commercial real estate
Farm land
Vacant land
Real estate secured
Commercial and industrial
Municipal
Consumer
Loans receivable, gross
Nonperforming Financial Instruments [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Residential 1-4 family	$ 352,001	368,801
Residential 5+ multifamily	37,058	46,237
Construction of residential 1-4 family	8,814	15,429
Home equity lines of credit	27,804	24,001
Residential real estate	425,677	454,468
Commercial	310,841	314,820
Construction of commercial	31,722	47,145
Commercial real estate	342,563	361,965
Farm land	3,198	3,409
Vacant land	14,079	13,698
Real estate secured	785,517	833,540
Commercial and industrial	227,148	208,180
Municipal	21,512	18,061
Consumer	7,687	11,152
Loans receivable, gross	$ 1,041,864	$ 1,070,933

composition of loans receivab_3

composition of loans receivable by delinquency status (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Accounts, Notes, Loans and Financing Receivable [Line Items]
Residential 1-4 family	$ 368,801	$ 352,001
Residential 5+ multifamily	46,237	37,058
Construction of residential 1-4 family	15,429	8,814
Home equity lines of credit	24,001	27,804
Residential real estate	454,468	425,677
Commercial	314,820	310,841
Construction of commercial	47,145	31,722
Commercial real estate	361,965	342,563
Farm land	3,409	3,198
Vacant land	13,698	14,079
Real estate secured	833,540	785,517
Commercial and industrial	208,180	227,148
Municipal	18,061	21,512
Consumer	11,152	7,687
Loans receivable, gross	1,070,933	1,041,864
Loans Receivable Delinquency Status Current [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Residential 1-4 family	368,034	349,382
Residential 5+ multifamily	45,376	36,197
Construction of residential 1-4 family	15,429	8,814
Home equity lines of credit	23,831	27,522
Residential real estate	452,670	421,915
Commercial	314,342	307,927
Construction of commercial	47,145	31,722
Commercial real estate	361,487	339,649
Farm land	3,279	2,594
Vacant land	13,663	14,079
Real estate secured	831,099	778,237
Commercial and industrial	207,792	224,496
Municipal	18,061	21,512
Consumer	11,108	7,677
Loans receivable, gross	1,068,060	1,031,922
Loans Receivable Delinquency Status Period Two [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Residential 1-4 family	167	1,419
Residential 5+ multifamily
Construction of residential 1-4 family
Home equity lines of credit	105	157
Residential real estate	272	1,576
Commercial	200	1,855
Construction of commercial
Commercial real estate	200	1,855
Farm land	130	154
Vacant land	35
Real estate secured	637	3,585
Commercial and industrial	289	2,148
Municipal
Consumer	4	10
Loans receivable, gross	930	5,743
Loans Receivable Delinquency Status Period Three [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Residential 1-4 family	84	308
Residential 5+ multifamily
Construction of residential 1-4 family
Home equity lines of credit	14	9
Residential real estate	98	317
Commercial	24	530
Construction of commercial
Commercial real estate	24	530
Farm land		450
Vacant land
Real estate secured	122	1,297
Commercial and industrial	53	457
Municipal
Consumer	40
Loans receivable, gross	215	1,754
Loans Receivable Delinquency Status Period Four [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Residential 1-4 family	442	673
Residential 5+ multifamily
Construction of residential 1-4 family
Home equity lines of credit
Residential real estate	442	673
Commercial		95
Construction of commercial
Commercial real estate		95
Farm land
Vacant land
Real estate secured	442	768
Commercial and industrial		1
Municipal
Consumer
Loans receivable, gross	442	769
Loans Receivable Delinquency Status Period Five [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Residential 1-4 family	74	219
Residential 5+ multifamily	861	861
Construction of residential 1-4 family
Home equity lines of credit	51	116
Residential real estate	986	1,196
Commercial	254	434
Construction of commercial
Commercial real estate	254	434
Farm land
Vacant land
Real estate secured	1,240	1,630
Commercial and industrial	46	46
Municipal
Consumer
Loans receivable, gross	1,286	1,676
Loans Receivable Delinquency Status Period Six [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Residential 1-4 family	767	2,619
Residential 5+ multifamily	861	861
Construction of residential 1-4 family
Home equity lines of credit	170	282
Residential real estate	1,798	3,762
Commercial	478	2,914
Construction of commercial
Commercial real estate	478	2,914
Farm land	130	604
Vacant land	35
Real estate secured	2,441	7,280
Commercial and industrial	388	2,652
Municipal
Consumer	44	10
Loans receivable, gross	2,873	9,942
Loans Receivable Delinquency Accrual [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Residential 1-4 family
Residential 5+ multifamily
Construction of residential 1-4 family
Home equity lines of credit
Residential real estate
Commercial
Construction of commercial
Commercial real estate
Farm land
Vacant land
Real estate secured
Commercial and industrial	11	12
Municipal
Consumer
Loans receivable, gross	11	12
Loans Receivable Delinquency Non Accrual [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Residential 1-4 family	1,235	1,508
Residential 5+ multifamily	861	861
Construction of residential 1-4 family
Home equity lines of credit	86	154
Residential real estate	2,182	2,523
Commercial	1,954	2,544
Construction of commercial
Commercial real estate	1,954	2,544
Farm land	576	158
Vacant land	35	37
Real estate secured	4,747	5,262
Commercial and industrial	243	374
Municipal
Consumer
Loans receivable, gross	$ 4,990	$ 5,636

Changes in the allowance for lo

Changes in the allowance for loan losses (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Residential 1-4 family
Financing Receivable, Past Due [Line Items]
Beginning balance	$ 2,377	$ 3,048	$ 2,646	$ 2,393
Provision	393	69	129	716
Charge-offs	(35)	(11)	(44)	(11)
Recoveries	5	1	9	9
Ending balance	2,740	3,107	2,740	3,107
Recoveries	(5)	(1)	(9)	(9)
Residential 5+ multifamily
Financing Receivable, Past Due [Line Items]
Beginning balance	545	589	686	446
Provision	156	14	15	199
Charge-offs				(42)
Recoveries
Ending balance	701	603	701	603
Recoveries
Construction of residential 1-4 family
Financing Receivable, Past Due [Line Items]
Beginning balance	95	87	65	75
Provision	41	10	71	22
Charge-offs
Recoveries
Ending balance	136	97	136	97
Recoveries
Home equity lines of credit
Financing Receivable, Past Due [Line Items]
Beginning balance	190	283	252	197
Provision	26	(8)	(36)	78
Charge-offs	(20)		(20)
Recoveries
Ending balance	196	275	196	275
Recoveries
Residential real estate
Financing Receivable, Past Due [Line Items]
Beginning balance	3,207	4,007	3,649	3,111
Provision	616	85	179	1,015
Charge-offs	(55)	(11)	(64)	(53)
Recoveries	5	1	9	9
Ending balance	3,773	4,082	3,773	4,082
Recoveries	(5)	(1)	(9)	(9)
Commercial
Financing Receivable, Past Due [Line Items]
Beginning balance	6,212	5,160	6,546	3,742
Provision	(165)	317	(509)	1,719
Charge-offs		(14)	(7)	(17)
Recoveries	119	1	136	20
Ending balance	6,166	5,464	6,166	5,464
Recoveries	(119)	(1)	(136)	(20)
Construction of commercial
Financing Receivable, Past Due [Line Items]
Beginning balance	668	205	596	104
Provision	118	195	208	296
Charge-offs			(18)
Recoveries
Ending balance	786	400	786	400
Recoveries
Commercial real estate
Financing Receivable, Past Due [Line Items]
Beginning balance	6,880	5,365	7,142	3,846
Provision	(47)	512	(301)	2,015
Charge-offs		(14)	(25)	(17)
Recoveries	119	1	136	20
Ending balance	6,952	5,864	6,952	5,864
Recoveries	(119)	(1)	(136)	(20)
Farm land
Financing Receivable, Past Due [Line Items]
Beginning balance	32	60	59	47
Provision	(1)	5	28	18
Charge-offs
Recoveries
Ending balance	31	65	31	65
Recoveries
Vacant land
Financing Receivable, Past Due [Line Items]
Beginning balance	87	182	180	71
Provision	(1)	(11)	(94)	100
Charge-offs
Recoveries	1		1
Ending balance	87	171	87	171
Recoveries	(1)		(1)
Real estate secured
Financing Receivable, Past Due [Line Items]
Beginning balance	10,206	9,614	11,030	7,075
Provision	567	591	(244)	3,148
Charge-offs	(55)	(25)	(89)	(70)
Recoveries	125	2	146	29
Ending balance	10,843	10,182	10,843	10,182
Recoveries	(125)	(2)	(146)	(29)
Commercial and industrial
Financing Receivable, Past Due [Line Items]
Beginning balance	1,256	1,515	1,397	1,145
Provision	73	(44)	17	326
Charge-offs			(131)
Recoveries	3	1	49	1
Ending balance	1,332	1,472	1,332	1,472
Recoveries	(3)	(1)	(49)	(1)
Municipal
Financing Receivable, Past Due [Line Items]
Beginning balance	32	36	43	46
Provision	(1)	5	(12)	(5)
Charge-offs
Recoveries
Ending balance	31	41	31	41
Recoveries
Consumer
Financing Receivable, Past Due [Line Items]
Beginning balance	66	74	77	60
Provision	62	40	82	72
Charge-offs	(19)	(41)	(34)	(66)
Recoveries	6	7	10	14
Ending balance	115	80	115	80
Recoveries	(6)	(7)	(10)	(14)
Unallocated
Financing Receivable, Past Due [Line Items]
Beginning balance	1,148	1,132	1,207	569
Provision	(301)	94	(360)	657
Charge-offs
Recoveries
Ending balance	847	1,226	847	1,226
Recoveries
Totals
Financing Receivable, Past Due [Line Items]
Beginning balance	12,708	12,371	13,754	8,895
Provision	400	686	(517)	4,198
Charge-offs	(74)	(66)	(254)	(136)
Recoveries	134	10	185	44
Ending balance	13,168	13,001	13,168	13,001
Recoveries	$ (134)	$ (10)	$ (185)	$ (44)

composition of loans receivab_4

composition of loans receivable and the allowance for loan losses (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
SEC Schedule, 12-09, Valuation and Qualifying Accounts Disclosure [Line Items]
Residential 1-4 family	$ 368,801	$ 352,001
Residential 5+ multifamily	46,237	37,058
Construction of residential 1-4 family	15,429	8,814
Home equity lines of credit	24,001	27,804
Residential real estate	454,468	425,677
Commercial	314,820	310,841
Construction of commercial	47,145	31,722
Commercial real estate	361,965	342,563
Farm land	3,409	3,198
Vacant land	13,698	14,079
Real estate secured	833,540	785,517
Commercial and industrial	208,180	227,148
Municipal	18,061	21,512
Consumer	11,152	7,687
Totals	1,057,451	1,027,738
Allowance For Loan And Lease Losses Collectively Evaluated Loans [Member]
SEC Schedule, 12-09, Valuation and Qualifying Accounts Disclosure [Line Items]
Residential 1-4 family	365,721	347,695
Residential 5+ multifamily	45,283	36,094
Construction of residential 1-4 family	15,429	8,814
Home equity lines of credit	23,915	27,650
Residential real estate	450,348	420,253
Commercial	310,947	305,193
Construction of commercial	47,145	31,722
Commercial real estate	358,092	336,915
Farm land	2,833	3,040
Vacant land	13,663	13,912
Real estate secured	824,936	774,120
Commercial and industrial	207,859	226,662
Municipal	18,061	21,512
Consumer	11,134	7,661
Unallocated allowance
Totals	1,061,990	1,029,955
SEC Schedule, 12-09, Allowance, Loan and Lease Loss, Real Estate [Member]
SEC Schedule, 12-09, Valuation and Qualifying Accounts Disclosure [Line Items]
Residential 1-4 family	2,737	2,445
Residential 5+ multifamily	701	686
Construction of residential 1-4 family	136	65
Home equity lines of credit	196	232
Residential real estate	3,770	3,428
Commercial	6,123	6,298
Construction of commercial	786	596
Commercial real estate	6,909	6,894
Farm land	31	59
Vacant land	87	178
Real estate secured	10,797	10,559
Commercial and industrial	1,288	1,223
Municipal	31	43
Consumer	115	59
Unallocated allowance	847	1,207
Totals	13,078	13,091
Allowance For Loan And Lease Losses Individually Evaluated Loans [Member]
SEC Schedule, 12-09, Valuation and Qualifying Accounts Disclosure [Line Items]
Residential 1-4 family	3,080	4,306
Residential 5+ multifamily	954	964
Construction of residential 1-4 family
Home equity lines of credit	86	154
Residential real estate	4,120	5,424
Commercial	3,873	5,648
Construction of commercial
Commercial real estate	3,873	5,648
Farm land	576	158
Vacant land	35	167
Real estate secured	8,604	11,397
Commercial and industrial	321	486
Municipal
Consumer	18	26
Unallocated allowance
Totals	8,943	11,909
SEC Schedule, 12-09, Allowance, Loan and Lease Loss [Member]
SEC Schedule, 12-09, Valuation and Qualifying Accounts Disclosure [Line Items]
Residential 1-4 family	3	201
Residential 5+ multifamily
Construction of residential 1-4 family
Home equity lines of credit		20
Residential real estate	3	221
Commercial	43	248
Construction of commercial
Commercial real estate	43	248
Farm land
Vacant land		2
Real estate secured	46	471
Commercial and industrial	44	174
Municipal
Consumer		18
Unallocated allowance
Totals	90	663
Allowance For Loan And Lease Losses Total Portfolio Loans [Member]
SEC Schedule, 12-09, Valuation and Qualifying Accounts Disclosure [Line Items]
Residential 1-4 family	368,801	352,001
Residential 5+ multifamily	46,237	37,058
Construction of residential 1-4 family	15,429	8,814
Home equity lines of credit	24,001	27,804
Residential real estate	454,468	425,677
Commercial	314,820	310,841
Construction of commercial	47,145	31,722
Commercial real estate	361,965	342,563
Farm land	3,409	3,198
Vacant land	13,698	14,079
Real estate secured	833,540	785,517
Commercial and industrial	208,180	227,148
Municipal	18,061	21,512
Consumer	11,152	7,687
Unallocated allowance
Totals	1,070,933	1,041,864
Allowance For Loan And Lease Losses Total Portfolio Allowance [Member]
SEC Schedule, 12-09, Valuation and Qualifying Accounts Disclosure [Line Items]
Residential 1-4 family	2,740	2,646
Residential 5+ multifamily	701	686
Construction of residential 1-4 family	136	65
Home equity lines of credit	196	252
Residential real estate	3,773	3,649
Commercial	6,166	6,546
Construction of commercial	786	596
Commercial real estate	6,952	7,142
Farm land	31	59
Vacant land	87	180
Real estate secured	10,843	11,030
Commercial and industrial	1,332	1,397
Municipal	31	43
Consumer	115	77
Unallocated allowance	847	1,207
Totals	$ 13,168	$ 13,754

credit quality segments of loan

credit quality segments of loans receivable and the allowance for loan losses (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Financing Receivable, Past Due [Line Items]
Totals	$ 1,057,451	$ 1,027,738
Allowance For Loan And Lease Losses Collectively Evaluated Loans Credit Quality Segment [Member]
Financing Receivable, Past Due [Line Items]
Performing loans	1,025,195	1,011,757
Potential problem loans 1	36,795	18,198
Impaired loans
Unallocated allowance
Totals	1,061,990	1,029,955
Allowance For Loan And Lease Losses Collectively Evaluated Allowance Credit Quality Segment [Member]
Financing Receivable, Past Due [Line Items]
Performing loans	9,490	10,424
Potential problem loans 1	2,741	1,460
Impaired loans
Unallocated allowance	847	1,207
Totals	13,078	13,091
Allowance For Loan And Lease Losses Individually Evaluated Loans Credit Quality Segment [Member]
Financing Receivable, Past Due [Line Items]
Performing loans
Potential problem loans 1
Impaired loans	8,943	11,909
Unallocated allowance
Totals	8,943	11,909
Allowance For Loan And Lease Losses Individually Evaluated Allowance Credit Quality Segment [Member]
Financing Receivable, Past Due [Line Items]
Performing loans
Potential problem loans 1
Impaired loans	90	663
Unallocated allowance
Totals	90	663
Allowance For Loan And Lease Losses Total Portfolio Loans Credit Quality Segment [Member]
Financing Receivable, Past Due [Line Items]
Performing loans	1,025,195	1,011,757
Potential problem loans 1	36,795	18,198
Impaired loans	8,943	11,909
Unallocated allowance
Totals	1,070,933	1,041,864
Allowance For Loan And Lease Losses Total Portfolio Allowance Credit Quality Segment [Member]
Financing Receivable, Past Due [Line Items]
Performing loans	9,490	10,424
Potential problem loans 1	2,741	1,460
Impaired loans	90	663
Unallocated allowance	847	1,207
Totals	$ 13,168	$ 13,754

Certain data with respect to lo

Certain data with respect to loans individually evaluated for impairment (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020	Sep. 30, 2020
SEC Schedule, 12-09, Valuation and Qualifying Accounts Disclosure [Line Items]
Residential	$ 368,801	$ 352,001
Home equity lines of credit	24,001	27,804
Residential real estate	454,468	425,677
Commercial	314,820	310,841
Construction of commercial	47,145	31,722
Farm land	3,409	3,198
Vacant land	13,698	14,079
Real estate secured	833,540	785,517
Commercial and industrial	208,180	227,148
Consumer	11,152	7,687
Totals	1,057,451	1,027,738
Impaired Loans Specific Allowance Loan Balance Book [Member]
SEC Schedule, 12-09, Valuation and Qualifying Accounts Disclosure [Line Items]
Residential	45		$ 3,854
Home equity lines of credit			75
Residential real estate	45		3,929
Commercial	1,007		3,099
Construction of commercial
Farm land
Vacant land			38
Real estate secured	1,052		7,066
Commercial and industrial	221		824
Consumer			30
Totals	1,273		7,920
Impaired Loans Specific Allowance Loan Balance Note [Member]
SEC Schedule, 12-09, Valuation and Qualifying Accounts Disclosure [Line Items]
Residential	47	3,040	3,972
Home equity lines of credit		75	75
Residential real estate	47	3,115	4,047
Commercial	1,033	3,117	3,148
Construction of commercial
Farm land
Vacant land		40	40
Real estate secured	1,080	6,272	7,235
Commercial and industrial	228	424	827
Consumer		26	30
Totals	1,308	6,722	8,092
Impaired Loans Specific Allowance Loan Balance Average [Member]
SEC Schedule, 12-09, Valuation and Qualifying Accounts Disclosure [Line Items]
Residential	1,120	3,862	4,034
Home equity lines of credit	22	76	77
Residential real estate	1,142	3,938	4,111
Commercial	1,921	3,325	3,401
Construction of commercial
Farm land
Vacant land	73	39	40
Real estate secured	3,136	7,302	7,552
Commercial and industrial	336	482	422
Consumer	8	31	33
Totals	3,480	7,815	8,007
SEC Schedule, 12-09, Reserve, Impairment of Recognized Servicing Asset [Member]
SEC Schedule, 12-09, Valuation and Qualifying Accounts Disclosure [Line Items]
Residential	3	201	383
Home equity lines of credit		20	14
Residential real estate	3	221	397
Commercial	43	248	270
Construction of commercial
Farm land
Vacant land		2	3
Real estate secured	46	471	670
Commercial and industrial	44	174	380
Consumer		18	18
Totals	90	663	1,068
Impaired Loans Specific Allowance Loan Income Recognized [Member]
SEC Schedule, 12-09, Valuation and Qualifying Accounts Disclosure [Line Items]
Residential	2	72	67
Home equity lines of credit
Residential real estate	2	72	67
Commercial	33	132	104
Construction of commercial
Farm land
Vacant land
Real estate secured	35	204	171
Commercial and industrial	3	4	3
Consumer		2	1
Totals	38	210	175
Impaired Loans No Specific Allowance Loan Balance Book [Member]
SEC Schedule, 12-09, Valuation and Qualifying Accounts Disclosure [Line Items]
Residential	3,989		1,959
Home equity lines of credit	86		158
Residential real estate	4,075		2,117
Commercial	2,866		1,298
Construction of commercial
Farm land	576		166
Vacant land	35		132
Real estate secured	7,552		3,713
Commercial and industrial	100		52
Consumer	18
Totals	7,670		3,765
Impaired Loans No Specific Allowance Loan Balance Note [Member]
SEC Schedule, 12-09, Valuation and Qualifying Accounts Disclosure [Line Items]
Residential	4,404	2,676	2,335
Home equity lines of credit	127	117	507
Residential real estate	4,531	2,793	2,842
Commercial	3,377	3,203	1,940
Construction of commercial
Farm land	756	319	322
Vacant land	39	145	148
Real estate secured	8,703	6,460	5,252
Commercial and industrial	270	283	205
Consumer	18
Totals	8,991	6,743	5,457
Impaired Loans No Specific Allowance Loan Balance Average [Member]
SEC Schedule, 12-09, Valuation and Qualifying Accounts Disclosure [Line Items]
Residential	3,642	1,993	1,912
Home equity lines of credit	156	103	111
Residential real estate	3,798	2,096	2,023
Commercial	3,002	1,139	978
Construction of commercial
Farm land	415	173	177
Vacant land	52	134	136
Real estate secured	7,267	3,542	3,314
Commercial and industrial	91	58	59
Consumer	15
Totals	7,373	3,600	3,373
Impaired Loans No Specific Allowance Loan Income Recognized [Member]
SEC Schedule, 12-09, Valuation and Qualifying Accounts Disclosure [Line Items]
Residential	52	27	20
Home equity lines of credit			1
Residential real estate	52	27	21
Commercial	47	91	31
Construction of commercial
Farm land
Vacant land		9	7
Real estate secured	99	127	59
Commercial and industrial		2	2
Consumer	1
Totals	$ 100	129	$ 61
Impaired Loans Specific Allowance Loan Balance Recorded Investment [Member]
SEC Schedule, 12-09, Valuation and Qualifying Accounts Disclosure [Line Items]
Residential		2,971
Home equity lines of credit		75
Residential real estate		3,046
Commercial		3,058
Construction of commercial
Farm land
Vacant land		37
Real estate secured		6,141
Commercial and industrial		416
Consumer		26
Totals		6,583
Impaired Loans No Specific Allowance Loan Balance Recorded Investment [Member]
SEC Schedule, 12-09, Valuation and Qualifying Accounts Disclosure [Line Items]
Residential		2,299
Home equity lines of credit		79
Residential real estate		2,378
Commercial		2,590
Construction of commercial
Farm land		158
Vacant land		130
Real estate secured		5,256
Commercial and industrial		70
Consumer
Totals		$ 5,326

NOTE 3 - LOANS (Details Narrati

NOTE 3 - LOANS (Details Narrative)	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2021USD ($)	Sep. 30, 2020USD ($)	Sep. 30, 2021USD ($)Integer	Sep. 30, 2020USD ($)	Dec. 31, 2020USD ($)
Financing Receivable, Past Due [Line Items]
Commercial loans serviced for other banks under loan participation agreements	$ 79,600,000		$ 79,600,000		$ 65,300,000
SBA PPP loans, number of applications processed | Integer			472
SBA PPP loans processed			$ 48,200,000
Net interest income on PPP loans	100,000		600,000
Net fee income on PPP loans	700,000		2,300,000
Total net fees on PPP loans that will be recognized over the life of the loans			2,000,000		3,100,000
Net origination fees on PPP loans recognized			600,000
SBA PPP loan balance	40,700,000		40,700,000		$ 86,600,000
SBA PPP loans originated in 2020 on balance sheet	2,900,000		2,900,000
SBA PPP loans originated in 2021 on balance sheet	37,800,000		37,800,000
Residential 1-4 family
Financing Receivable, Past Due [Line Items]
Troubled debt restructuring, modifications	$ 74,000	$ 180,000	$ 74,000	$ 180,000
Commercial Real Estate Portfolio Segment 1 [Member]
Financing Receivable, Past Due [Line Items]
Troubled debt restructuring, modifications				$ 133,000

assets and liabilities as well

assets and liabilities as well as the costs of operating and finance leases that are included in the Bank's consolidated balance sheet as of September 30, 2021 and December 31, 2020 and consolidated income statements for the nine months and three months e (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020	Dec. 31, 2020
Liabilities
Operating leases	$ 74	$ 64	$ 221	$ 188
Amortization of leased assets	25	25	76	76
Interest on finance leases	36	36	103	107
Total lease cost	$ 135	$ 125	$ 400	$ 371
Weighted Average Remaining Lease Term
Operating leases	7 years		7 years		7 years 219 days
Financing leases	13 years 255 days 12 hours		13 years 255 days 12 hours		14 years 73 days
Weighted Average Discount Rate 1
Operating leases	3.60%		3.60%		3.70%
Financing leases	8.30%		8.30%		8.40%
Assets And Liabilities [Member]
Assets
Operating	$ 1,076		$ 1,076		$ 1,182
Finance	1,326		1,326		1,402
Total Leased Assets	2,402		2,402		2,584
Liabilities
Operating	1,076		1,076		1,182
Finance	1,631		1,631		1,673
Total Lease Liabilities	$ 2,707		$ 2,707		$ 2,855

schedule by years of the presen

schedule by years of the present value of the net minimum lease payments (Details) $ in Thousands	Sep. 30, 2021USD ($)
Operating Leases [Member]
Lessee, Lease, Description [Line Items]
	$ 64
	227
	167
	130
	137
	437
	1,162
	(86)
	1,076
Finance Leases [Member]
Lessee, Lease, Description [Line Items]
	48
	195
	198
	200
	203
	1,752
	2,596
	(965)
	$ 1,631

NOTE 5 - ASSETS HELD FOR SALE (

NOTE 5 - ASSETS HELD FOR SALE (Details Narrative) $ in Thousands	3 Months Ended
	Sep. 30, 2021USD ($)
Property, Plant and Equipment [Abstract]
Assets Held-for-sale, Not Part of Disposal Group	$ 700,000
[custom:ImpairmentExpenseRecordedOnAssetsHeldForSale]	$ 144

Mortgage Servicing Rights

Mortgage Servicing Rights - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Residential mortgage loans serviced for others	$ 833,540	$ 785,517
Derivative Financial Instruments, Assets [Member]
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Residential mortgage loans serviced for others	142,873	134,428
Fair value of mortgage servicing rights	$ 999	$ 762

Changes in mortgage servicing r

Changes in mortgage servicing rights (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Mortgage Servicing Rights
Balance, beginning of period	$ 748	$ 353	$ 621	$ 238
Originated	18	270	276	413
Amortization (1)	(36)	(56)	(167)	(84)
Balance, end of period	730	567	730	567
Valuation Allowance
Balance, beginning of period			(9)
Decrease in impairment reserve (1)			9
Balance, end of period
Mortgage servicing rights, net	$ 730	$ 567	$ 730	$ 567

The following securities and lo

The following securities and loans were pledged to secure public and trust deposits, securities sold under agreements to repurchase, FHLBB advances and credit facilities available (Details) - Guarantee Type, Other [Member] - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Guarantor Obligations [Line Items]
Securities available-for-sale (at fair value)	$ 66,877	$ 54,581
Loans receivable (at book value)	382,840	420,415
Total pledged assets	$ 449,717	$ 474,996

NOTE 7 - PLEDGED ASSETS (Detail

NOTE 7 - PLEDGED ASSETS (Details Narrative)	Sep. 30, 2021USD ($)
Guarantees and Product Warranties [Abstract]
Securities pledged to secure public deposits	$ 56,410,000
Securities pledged to secure repurchase agreements	10,450,000
Securities pledged to secure FHLBB advances	$ 20,000

the following amounts were reco

the following amounts were recorded on the balance sheet related to cumulative basis adjustment for fair value hedges (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Derivative Instruments, Gain (Loss) [Line Items]
Loans receivable, cumulative amount of fair value hedging adjustment included in carrying amount of hedged assets	$ (4)	$ (4)
Total, cumulative amount of fair value hedging adjustment included in carrying amount of hedged assets	(4)	(4)
Hedged Assets Liabilities Carrying Amount [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Loans receivable(1)	9,996	9,996
Total	$ 9,996	$ 9,996

fair value of Salisbury's deriv

fair value of Salisbury's derivative financial instrument and its classification on the Balance Sheet (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Notional Amount [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Interest Rate Products	$ 10,000
Derivative Instrument Fair Value [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Interest Rate Products	4	$ 4
Total Derivatives designated as hedge instruments	$ 4	$ 4

effect of the Company's derivat

effect of the Company's derivative financial instruments on the Income Statement (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Interest Income Derivative Instrument [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Total amounts of income and expense line items presented in the statement of financial performance in which the effects of fair value or cash flow hedges are recorded	$ 1
Hedged items	4	3	3
Derivatives designated as hedging instruments	(3)	(3)	(3)
Interest Expense Derivative Instrument [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Total amounts of income and expense line items presented in the statement of financial performance in which the effects of fair value or cash flow hedges are recorded
Hedged items				3
Derivatives designated as hedging instruments				$ (3)

NOTE 8 - DERIVATIVES AND HEDG_3

NOTE 8 - DERIVATIVES AND HEDGING ACTIVITIES (Details Narrative) $ in Thousands	Sep. 30, 2021USD ($)
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Minimum amount of posted collateral for Credit-Risk Related Contingent Features agreement	$ 250
Fair value of derivative in a net asset position related to Credit-Risk Related Contingent Features agreement	$ 4

computation of earnings per sha

computation of earnings per share (basic and diluted) (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Earnings Per Share [Abstract]
Net income	$ 3,453	$ 4,356	$ 12,332	$ 9,137
Less: Undistributed earnings allocated to participating securities	(53)	(67)	(184)	(131)
Net income allocated to common stock	3,400	4,288	12,148	9,006
Weighted-average common shares issued	2,862	2,843	2,853	2,835
Less: Unvested restricted stock awards	(45)	(44)	(43)	(41)
Weighted average common shares outstanding used to calculate basic earnings per common share	2,817	2,799	2,810	2,794
Add: Dilutive effect of stock options	26	8	20	8
Weighted-average common shares outstanding used to calculate diluted earnings per common share	$ 2,843	$ 2,807	$ 2,830	$ 2,802
Earnings per common share (basic)	$ 1.21	$ 1.53	$ 4.32	$ 3.22
Earnings per common share (diluted)	$ 1.20	$ 1.53	$ 4.30	$ 3.21

Actual regulatory capital posit

Actual regulatory capital position and minimum capital requirements (Details) $ in Thousands	Sep. 30, 2021USD ($)	Dec. 31, 2020USD ($)
Total Capital To Risk Weighted Assets [Member]
Compliance with Regulatory Capital Requirements for Mortgage Companies [Line Items]
Banking Regulation, Total Capital, Actual	$ 149,213	$ 127,254
Banking Regulation, Total Risk-Based Capital Ratio, Actual	0.1420	0.1357
Banking Regulation, Total Risk-Based Capital, Capital Adequacy, Minimum	$ 84,080	$ 75,037
Banking Regulation, Total Risk-Based Capital Ratio, Capital Adequacy, Minimum	0.080	0.080
[custom:TotalCapitalMinimumCapitalRequiredForCapitalAdequacyPlusRequiredCapitalConservationBufferAmount-0]	$ 110,355	$ 98,486
[custom:TotalCapitalMinimumCapitalRequiredForCapitalAdequacyPlusRequiredCapitalConservationBufferRatio-0]	10.50%	10.50%
Banking Regulation, Total Risk-Based Capital, Well Capitalized, Minimum	$ 105,100	$ 93,796
Banking Regulation, Total Risk-Based Capital Ratio, Well Capitalized, Minimum	0.100	0.100
Tier 1 Capital To Risk Weighted Assets [Member]
Compliance with Regulatory Capital Requirements for Mortgage Companies [Line Items]
Banking Regulation, Total Capital, Actual	$ 136,074	$ 115,503
Banking Regulation, Total Risk-Based Capital Ratio, Actual	0.1295	0.1231
Banking Regulation, Total Risk-Based Capital, Capital Adequacy, Minimum	$ 63,060	$ 56,278
Banking Regulation, Total Risk-Based Capital Ratio, Capital Adequacy, Minimum	0.060	0.060
[custom:TotalCapitalMinimumCapitalRequiredForCapitalAdequacyPlusRequiredCapitalConservationBufferAmount-0]	$ 89,335	$ 79,727
[custom:TotalCapitalMinimumCapitalRequiredForCapitalAdequacyPlusRequiredCapitalConservationBufferRatio-0]	8.50%	8.50%
Banking Regulation, Total Risk-Based Capital, Well Capitalized, Minimum	$ 84,080	$ 75,037
Banking Regulation, Total Risk-Based Capital Ratio, Well Capitalized, Minimum	0.080	0.080
Common Equity Tier 1 Capital To Risk Weighted Assets [Member]
Compliance with Regulatory Capital Requirements for Mortgage Companies [Line Items]
Banking Regulation, Total Capital, Actual	$ 136,074	$ 115,503
Banking Regulation, Total Risk-Based Capital Ratio, Actual	0.1295	0.1231
Banking Regulation, Total Risk-Based Capital, Capital Adequacy, Minimum	$ 47,295	$ 42,208
Banking Regulation, Total Risk-Based Capital Ratio, Capital Adequacy, Minimum	0.045	0.045
[custom:TotalCapitalMinimumCapitalRequiredForCapitalAdequacyPlusRequiredCapitalConservationBufferAmount-0]	$ 73,570	$ 66,657
[custom:TotalCapitalMinimumCapitalRequiredForCapitalAdequacyPlusRequiredCapitalConservationBufferRatio-0]	7.00%	7.00%
Banking Regulation, Total Risk-Based Capital, Well Capitalized, Minimum	$ 68,315	$ 60,967
Banking Regulation, Total Risk-Based Capital Ratio, Well Capitalized, Minimum	0.065	0.065
Tier 1 Capital To Average Assets [Member]
Compliance with Regulatory Capital Requirements for Mortgage Companies [Line Items]
Banking Regulation, Total Capital, Actual	$ 136,074	$ 115,503
Banking Regulation, Total Risk-Based Capital Ratio, Actual	0.0931	0.0890
Banking Regulation, Total Risk-Based Capital, Capital Adequacy, Minimum	$ 58,451	$ 51,907
Banking Regulation, Total Risk-Based Capital Ratio, Capital Adequacy, Minimum	0.040	0.040
[custom:TotalCapitalMinimumCapitalRequiredForCapitalAdequacyPlusRequiredCapitalConservationBufferAmount-0]	$ 58,451	$ 51,907
[custom:TotalCapitalMinimumCapitalRequiredForCapitalAdequacyPlusRequiredCapitalConservationBufferRatio-0]	4.00%	4.00%
Banking Regulation, Total Risk-Based Capital, Well Capitalized, Minimum	$ 73,063	$ 64,884
Banking Regulation, Total Risk-Based Capital Ratio, Well Capitalized, Minimum	0.050	0.050

NOTE 10 - SHAREHOLDERS' EQUIT_2

NOTE 10 - SHAREHOLDERS' EQUITY (Details Narrative) - USD ($)	9 Months Ended
	Sep. 30, 2021	Mar. 31, 2021
Equity [Abstract]
Subordinated debt issued		$ 25,000,000
Net proceeds from issuance of subordinated debt retained at the holding company level		$ 15,000,000
Subordinated debt redeemed	$ 10,000,000

NOTE 11 - BENEFITS (Details Nar

NOTE 11 - BENEFITS (Details Narrative) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020	Dec. 31, 2020
Retirement Benefits [Abstract]
Salisbury's 401(k) Plan expense	$ 253,000	$ 229,000	$ 847,000	$ 667,000
Salisbury's ESOP expense	55,000	56,000	184,000	170
Total liability for endorsement split-dollar life insurance arrangements included in other liabilities	1,031,000		1,031,000		$ 771,000
Other post-retirement benefit obligation expense (credit) for endorsement split dollar life insurance arrangement	86,000	(32,000)	259,000	7,000
Expenses related to Non-Qualified Deferred Compensation Plan	$ 29,000	$ 33,000	$ 86,000	$ 100,000

NOTE 12 - LONG TERM INCENTIVE_2

NOTE 12 - LONG TERM INCENTIVE PLANS (Details Narrative) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended				9 Months Ended			12 Months Ended
	Sep. 30, 2021	Mar. 31, 2021	Sep. 30, 2020	Mar. 31, 2020	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2019	Dec. 31, 2021	Dec. 31, 2020
Retirement Benefits [Abstract]
Restricted stock expense	$ 149		$ 122		$ 449	$ 393
Tax benefit from restricted stock expense	27		22		81	71
Restricted stock granted pursuant to 2017 Long Term Incentive Plan, shares								16,650
Restricted stock granted pursuant to 2017 Long Term Incentive Plan, value					746
Unrecognized compensation cost relating to awards	1,075				$ 1,075				$ 906
Forfeitures of restricted stock, amount			$ 21			$ 50
Forfeitures of restricted stock, shares			500			1,200
Performance-based restricted stock units pursuant to 2017 Long-Term Incentive Plan, granted					7,400	7,250
Performance-based restricted stock units pursuant to 2017 Long-Term Incentive Plan, fair value					$ 354	$ 264	$ 280
Performance-based restricted stock units pursuant to 2017 Long-Term Incentive Plan, compensation expense	61		$ 80		236	127
Performance-based restricted stock units pursuant to 2017 Long-Term Incentive Plan, tax benefit from compensation expense	11		14		42	23
Short Term Incentive Plan expense, included in compensation expenses	210		189		757	530
Tax benefit from Short Term Incentive Plan expense	$ 38		$ 34		$ 136	$ 95
Options exercised by former Riverside executive, number		1,755		1,755
Options exercised by former Riverside executive, exercise price		$ 17.04		$ 17.04
Options exercised by former Riverside employee, number				1,350
Options exercised by former Riverside employee, exercise price				$ 17.04

Assets measured at fair value (

Assets measured at fair value (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Fair Value Inputs Level 1 S A L [Member]
Assets at fair value on a recurring basis
U.S. Treasury
U.S. Government Agency notes
Municipal bonds
U.S. Government agencies and U.S. Government-sponsored enterprises
U.S. Government agencies
Corporate bonds
Securities available-for-sale
CRA mutual funds	907	917
Derivative financial instruments
Assets at fair value on a non-recurring basis
Assets held for sale 1	700
Fair Value Inputs Level 2 S A L [Member]
Assets at fair value on a recurring basis
U.S. Treasury	10,302
U.S. Government Agency notes	32,274	7,851
Municipal bonds	39,605	27,617
U.S. Government agencies and U.S. Government-sponsored enterprises	67,179	36,573
U.S. Government agencies	15,011	17,454
Corporate bonds	11,197	8,916
Securities available-for-sale	175,568	98,411
CRA mutual funds
Derivative financial instruments	4	4
Assets at fair value on a non-recurring basis
Assets held for sale 1
Fair Value Inputs Level 3 S A L [Member]
Assets at fair value on a recurring basis
U.S. Treasury
U.S. Government Agency notes
Municipal bonds
U.S. Government agencies and U.S. Government-sponsored enterprises
U.S. Government agencies
Corporate bonds
Securities available-for-sale
CRA mutual funds
Derivative financial instruments
Assets at fair value on a non-recurring basis
Assets held for sale 1
Fair Value Inputs Level 12 And 3 S A L [Member]
Assets at fair value on a recurring basis
U.S. Treasury	10,302
U.S. Government Agency notes	32,274	7,851
Municipal bonds	39,605	27,617
U.S. Government agencies and U.S. Government-sponsored enterprises	67,179	36,573
U.S. Government agencies	15,011	17,454
Corporate bonds	11,197	8,916
Securities available-for-sale	175,568	98,411
CRA mutual funds	907	917
Derivative financial instruments	4	$ 4
Assets at fair value on a non-recurring basis
Assets held for sale 1	$ 700

Carrying values and estimated f

Carrying values and estimated fair values of financial instruments (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Carrying Reported Amount Fair Value Disclosure S A L [Member]
Financial Assets
Cash and cash equivalents	$ 166,295	$ 93,162
Interest bearing time deposits with financial institutions	750	750
Securities available-for-sale	175,568	98,411
CRA mutual fund	907	917
Federal Home Loan Bank of Boston stock	1,504	1,713
Loans held-for-sale	639	2,735
Loans receivable, net	1,057,451	1,027,738
Accrued interest receivable	5,932	6,373
Derivative financial instruments	4	4
Cash surrender value of life insurance policies	25,067	21,182
Financial Liabilities
Demand (non-interest-bearing)	392,322	310,769
Demand (interest-bearing)	220,533	218,869
Money market	328,392	278,146
Savings and other	224,286	189,776
Certificates of deposit	124,095	131,514
Deposits	1,289,628	1,129,074
Repurchase agreements	10,450	7,116
FHLBB advances	8,905	12,639
Subordinated debt	24,460	9,883
Note payable	180	208
Finance lease liability	1,631	1,673
Accrued interest payable	34	43
Estimate Of Fair Value Fair Value Disclosure S A L [Member]
Financial Assets
Cash and cash equivalents	166,295	93,162
Interest bearing time deposits with financial institutions	750	750
Securities available-for-sale	175,568	98,411
CRA mutual fund	907	917
Federal Home Loan Bank of Boston stock	1,504	1,713
Loans held-for-sale	649	2,790
Loans receivable, net	1,051,127	1,057,234
Accrued interest receivable	5,932	6,373
Derivative financial instruments	4	4
Cash surrender value of life insurance policies	25,067	21,182
Financial Liabilities
Demand (non-interest-bearing)	392,322	310,769
Demand (interest-bearing)	220,533	218,869
Money market	328,392	278,146
Savings and other	224,286	189,776
Certificates of deposit	124,946	132,875
Deposits	1,290,747	1,130,435
Repurchase agreements	10,450	7,116
FHLBB advances	9,000	12,786
Subordinated debt	24,276	10,027
Note payable	181	212
Finance lease liability	1,732	1,920
Accrued interest payable	34	43
Fair Value Inputs Level 1 S A L [Member]
Financial Assets
Cash and cash equivalents	166,295	93,162
Interest bearing time deposits with financial institutions	750	750
Securities available-for-sale
CRA mutual fund	907	917
Federal Home Loan Bank of Boston stock	1,504	1,713
Loans held-for-sale
Loans receivable, net
Accrued interest receivable	5,932	6,373
Derivative financial instruments
Cash surrender value of life insurance policies	25,067	21,182
Financial Liabilities
Demand (non-interest-bearing)
Demand (interest-bearing)
Money market
Savings and other
Certificates of deposit
Deposits
Repurchase agreements
FHLBB advances
Subordinated debt
Note payable
Finance lease liability
Accrued interest payable	34	43
Fair Value Inputs Level 2 S A L [Member]
Financial Assets
Cash and cash equivalents
Interest bearing time deposits with financial institutions
Securities available-for-sale	175,568	98,411
CRA mutual fund
Federal Home Loan Bank of Boston stock
Loans held-for-sale
Loans receivable, net
Accrued interest receivable
Derivative financial instruments	4	4
Cash surrender value of life insurance policies
Financial Liabilities
Demand (non-interest-bearing)	392,322	310,769
Demand (interest-bearing)	220,533	218,869
Money market	328,392	278,146
Savings and other	224,286	189,776
Certificates of deposit	124,946	132,875
Deposits	1,290,747	1,130,435
Repurchase agreements	10,450	7,116
FHLBB advances	9,000	12,786
Subordinated debt	24,276	10,027
Note payable	181	212
Finance lease liability
Accrued interest payable
Fair Value Inputs Level 3 S A L [Member]
Financial Assets
Cash and cash equivalents
Interest bearing time deposits with financial institutions
Securities available-for-sale
CRA mutual fund
Federal Home Loan Bank of Boston stock
Loans held-for-sale	649	2,790
Loans receivable, net	1,051,127	1,057,234
Accrued interest receivable
Derivative financial instruments
Cash surrender value of life insurance policies
Financial Liabilities
Demand (non-interest-bearing)
Demand (interest-bearing)
Money market
Savings and other
Certificates of deposit
Deposits
Repurchase agreements
FHLBB advances
Subordinated debt
Note payable
Finance lease liability	1,732	1,920
Accrued interest payable

NOTE 14 - SUBSEQUENT EVENTS (De

NOTE 14 - SUBSEQUENT EVENTS (Details Narrative)	Nov. 26, 2021$ / shares
Subsequent Events [Abstract]
Quarterly dividend payable	$ 0.31