Salisbury Bancorp (SAL) 10-K 11 Mar 22 2021 FY Annual report Financial data

Cover

Cover - USD ($)	12 Months Ended
	Dec. 31, 2021	Mar. 01, 2022	Jun. 30, 2021
Cover [Abstract]
Document Type	10-K
Amendment Flag	false
Document Annual Report	true
Document Transition Report	false
Document Period End Date	Dec. 31, 2021
Document Fiscal Period Focus	FY
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
Trading Symbol	SAL
Security Exchange Name	NASDAQ
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
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 Public Float			$ 130,800,000
Entity Common Stock, Shares Outstanding		2,876,047
ICFR Auditor Attestation Flag	false
Auditor Name	Baker Newman & Noyes LLC
Auditor Location	Portsmouth, New Hampshire
Auditor Firm ID	231

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
ASSETS
Cash and due from banks	$ 6,404	$ 10,599
Interest bearing demand deposits with other banks	168,931	82,563
Total cash and cash equivalents	175,335	93,162
Interest bearing Time Deposits with Financial Institutions	750	750
Securities
Available-for-sale at fair value	202,396	98,411
CRA mutual fund at fair value	901	917
Federal Home Loan Bank of Boston stock at cost	1,397	1,713
Loans held-for-sale	2,684	2,735
Loans receivable, net (allowance for loan losses: $12,962 and $13,754)	1,066,750	1,027,738
Bank premises and equipment, net	22,625	20,355
Goodwill	13,815	13,815
Intangible assets (net of accumulated amortization: $5,463 and $5,207)	418	674
Accrued interest receivable	6,260	6,373
Cash surrender value of life insurance policies	27,738	21,182
Deferred taxes	2,588	2,412
Other assets	5,527	3,423
Total Assets	1,529,184	1,293,660
Deposits
Demand (non-interest bearing)	416,073	310,769
Demand (interest bearing)	233,600	218,869
Money market	330,436	278,146
Savings and other	237,075	189,776
Certificates of deposit	119,009	131,514
Total deposits	1,336,193	1,129,074
Repurchase agreements	11,430	7,116
Federal Home Loan Bank of Boston advances	7,656	12,639
Subordinated debt	24,474	9,883
Note payable	170	208
Finance lease obligations	4,107	1,673
Accrued interest and other liabilities	8,554	8,315
Total Liabilities	1,392,584	1,168,908
Shareholders' Equity
Outstanding: 2,861,697 and 2,843,292	286	284
Unearned compensation – restricted stock awards	(925)	(774)
Paid-in capital	46,374	45,264
Retained earnings	89,995	76,974
Accumulated other comprehensive income, net	870	3,004
Total Shareholders' Equity	136,600	124,752
Total Liabilities and Shareholders' Equity	$ 1,529,184	$ 1,293,660

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Statement of Financial Position [Abstract]
Loans and Leases Receivable, Allowance	$ 12,962	$ 13,754
Finite-Lived Intangible Assets, Accumulated Amortization	$ 5,463	$ 5,207
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 - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Interest and dividend income
Interest and fees on loans	$ 41,080	$ 40,796	$ 39,742
Interest on debt securities
Taxable	2,048	1,671	2,223
Tax exempt	697	672	545
Other interest and dividends	247	295	903
Total interest and dividend income	44,072	43,434	43,413
Interest expense
Deposits	2,160	3,890	7,324
Repurchase agreements	16	20	24
Finance lease	136	141	170
Note payable	11	14	16
Subordinated debt	1,000	618	624
Federal Home Loan Bank of Boston advances	125	605	1,143
Total interest expense	3,448	5,288	9,301
Net interest and dividend income	40,624	38,146	34,112
(Release) provision for loan losses	(720)	5,038	955
Net interest and dividend income after (release) provision for loan losses	41,344	33,108	33,157
Non-interest income
Trust and wealth advisory	4,970	4,194	3,995
Service charges and fees	4,822	3,072	4,028
Mortgage banking activities, net	1,000	1,621	423
(Losses) gains on CRA mutual fund	(26)	19	25
(Losses) gains on securities, net	(2)	196	263
Bank-owned life insurance (“BOLI”) income	556	495	392
Gain on bank-owned life insurance		601
Gain on sale of assets	73
Other	107	125	124
Total non-interest income	11,500	10,323	9,250
Non-interest expense
Salaries	13,417	11,828	12,048
Employee benefits	5,023	4,533	4,384
Premises and equipment	4,114	4,019	4,016
Write-down of assets	144
Data processing	2,441	2,211	2,201
Professional fees	2,779	2,741	2,213
Collections, OREO, and loan related	455	323	844
FDIC insurance	541	466	261
Marketing and community support	881	573	619
Amortization of intangibles	256	321	388
Other	2,053	2,023	1,938
Total non-interest expense	32,104	29,038	28,912
Income before income taxes	20,740	14,393	13,495
Income tax provision	4,267	2,453	2,359
Net income	16,473	11,940	11,136
Net income available to common shareholders	$ 16,225	$ 11,775	$ 10,976
Basic earnings per common share	$ 5.77	$ 4.21	$ 3.95
Diluted earnings per common share	5.72	4.20	3.93
Common dividends per share	$ 1.21	$ 1.16	$ 1.12

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Income Statement [Abstract]
Net income	$ 16,473	$ 11,940	$ 11,136
Other comprehensive (loss) income
Net unrealized (losses) gains on securities available-for-sale	(2,701)	2,280	2,258
Reclassification of net realized loss (gains) in net income	2	(196)	(263)
Unrealized (losses) gains on securities available-for-sale	(2,699)	2,084	1,995
Income tax benefit (expense)	565	(437)	(418)
Unrealized (losses) gains on securities available-for-sale, net of tax	(2,134)	1,647	1,577
Other comprehensive (loss) income, net of tax	(2,134)	1,647	1,577
Comprehensive income	$ 14,339	$ 13,587	$ 12,713

CONSOLIDATED STATEMENTS OF CHAN

CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY - 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
Beginning balance, value at Dec. 31, 2018	$ 281	$ 43,770	$ 60,339	$ (711)	$ (220)	$ 103,459
Shares, Outstanding, Beginning Balance at Dec. 31, 2018	2,806,781
Net income for year			11,136			11,136
Other comprehensive loss, net of tax					1,577	1,577
Common stock dividends declared ($1.21 per share)			(3,155)			(3,155)
Stock options exercised		82				82
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period	4,725
Issuance of restricted common stock	$ 2	457		(459)
Stock Issued During Period, Shares, Restricted Stock Award, Gross	11,530
Forfeiture of restricted common stock		(31)		31
Share-based Compensation Arrangement by Share-based Payment Award, Options, Forfeitures in Period	(710)
Issuance of directors restricted stock awards		142		(142)
[custom:StockIssuedDuringPeriodSharesDirectorsRestrictedStockAwards]	3,600
Retired Common Stock
Stock Repurchased and Retired During Period, Shares	(14)
Stock based compensation-restricted stock awards		70		486		556
Ending balance, value at Dec. 31, 2019	$ 283	44,490	68,320	(795)	1,357	113,655
Shares, Outstanding, Ending Balance at Dec. 31, 2019	2,825,912
Net income for year			11,940			11,940
Other comprehensive loss, net of tax					1,647	1,647
Common stock dividends declared ($1.21 per share)			(3,286)			(3,286)
Stock options exercised		53				53
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period	3,105
Issuance of restricted common stock	$ 1	439		(440)
Stock Issued During Period, Shares, Restricted Stock Award, Gross	12,275
Forfeiture of restricted common stock		(50)		50
Share-based Compensation Arrangement by Share-based Payment Award, Options, Forfeitures in Period	(1,200)
Issuance of directors restricted stock awards		114		(114)
[custom:StockIssuedDuringPeriodSharesDirectorsRestrictedStockAwards]	3,200
Stock based compensation-restricted stock awards		218		525		743
Ending balance, value at Dec. 31, 2020	$ 284	45,264	76,974	(774)	3,004	124,752
Shares, Outstanding, Ending Balance at Dec. 31, 2020	2,843,292
Net income for year			16,473			16,473
Other comprehensive loss, net of tax					(2,134)	(2,134)
Common stock dividends declared ($1.21 per share)			(3,452)			(3,452)
Stock options exercised	$ 1	30				31
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period	1,755
Issuance of restricted common stock	$ 1	623		(624)
Stock Issued During Period, Shares, Restricted Stock Award, Gross	13,850
Issuance of directors restricted stock awards		126		(126)
[custom:StockIssuedDuringPeriodSharesDirectorsRestrictedStockAwards]	2,800
Stock based compensation-restricted stock awards		331		599		930
Ending balance, value at Dec. 31, 2021	$ 286	$ 46,374	$ 89,995	$ (925)	$ 870	$ 136,600
Shares, Outstanding, Ending Balance at Dec. 31, 2021	2,861,697

CONSOLIDATED STATEMENTS OF CH_2

CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY (Parenthetical) - $ / shares	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Statement of Stockholders' Equity [Abstract]
Common Stock, Dividends, Per Share, Declared	$ 1.21	$ 1.16	$ 1.12

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Operating Activities
Net income	$ 16,473	$ 11,940	$ 11,136
(Accretion), amortization and depreciation
Securities	1,125	548	332
Bank premises and equipment	1,515	1,426	1,591
Core deposit intangible	256	321	388
Amortization of modification fees on Federal Home Loan Bank of Boston advances	22	70	232
Subordinated debt issuance costs	173	24	24
Mortgage servicing rights	235	151	51
Fair value adjustment on loans			(64)
Fair value adjustment on deposits		(4)	(8)
(Gains) and losses, including write-downs
Sales and calls of securities available-for-sale, net	2	(196)	(263)
Sales of loans, excluding capitalized servicing rights	(697)	(1,204)	(82)
CRA Mutual Fund	26	(19)	(25)
Other real estate owned			408
Disposals of premises and equipment	71
Gain on redemption of bank owned life insurance		(601)
(Release) provision for loan losses	(720)	5,038	955
Proceeds from loans sold	34,561	59,786	6,447
Loans originated for sale	(33,813)	(60,985)	(6,697)
(Increase) decrease in deferred loan origination fees and costs, net	(657)	1,734	59
Mortgage servicing rights originated	(314)	(534)	(61)
(Decrease) increase in mortgage servicing rights impairment reserve	(9)	9
Decrease (increase) in interest receivable	113	(2,958)	(267)
Deferred tax expense (benefit)	389	(1,600)	(391)
(Increase) decrease in prepaid expenses	(337)	393	(174)
Increase in cash surrender value of life insurance policies	(556)	(495)	(392)
(Increase) decrease in income tax receivable	(450)		137
(Decrease) increase in income tax payable	(320)	83	235
(Increase) decrease in other assets	(529)	(52)	846
Increase in accrued expenses	409	327	352
Increase (decrease) in interest payable	6	(35)	(159)
Increase (decrease) in other liabilities	144	(107)	(835)
Stock based compensation-restricted stock awards	930	743	556
Net cash provided by operating activities	18,048	13,803	14,330
Investing Activities
Redemptions (purchases) of Federal Home Loan Bank of Boston stock, net	316	1,529	1,254
Purchases of securities available-for-sale	(145,297)	(37,392)	(53,467)
Purchases of interest-bearing time deposits with financial institutions			(750)
Proceeds from sales of securities available-for-sale	3,311	15,589	41,814
Proceeds from calls of securities available-for-sale	9,500	655	75
Proceeds from maturities of securities available-for-sale	24,675	16,270	13,521
Reinvestment of CRA Mutual Fund	(10)	(16)	(21)
Loan originations and principal collections, net	(37,844)	(107,420)	(19,172)
Recoveries of loans previously charged off	209	323	88
Proceeds from sale/ disposal of premises and equipment	248
Proceeds from sales of other real estate owned		314	1,088
Capital expenditures	(2,314)	(4,367)	(2,055)
Purchase of bank owned life insurance	(6,000)	(3,500)	(5,750)
Death benefit proceeds received		3,994
Net cash utilized by investing activities	(153,206)	(114,021)	(23,375)
Financing Activities
Increase in deposit transaction accounts, net	219,624	205,778	26,722
(Decrease) increase in time deposits, net	(12,505)	3,794	(33,947)
(Increase) decrease in securities sold under agreements to repurchase, net	4,314	(1,414)	4,426
Short-term Federal Home Loan Bank of Boston advances, net		(21,000)	20,500
Long-term Federal Home Loan Bank of Boston advances		6,000
Long-term Federal Home Loan Bank of Boston repayments		(30,000)	(37,000)
Amortizing Federal Home Loan Bank of Boston advances		10,000
Amortizing Federal Home Loan Bank of Boston repayments	(5,005)	(3,318)
Issuance of Sub Debt, net of issuance costs	24,418
Repayment of Sub Debt	(10,000)
Principal payments on note payable	(38)	(38)	(34)
Decrease in finance lease obligation	(56)	(74)	(109)
Stock options exercised	31	53	82
Common stock dividends paid	(3,452)	(3,286)	(3,155)
Net cash provided by (applied to) financing activities	217,331	166,495	(22,515)
Net increase (decrease) in cash and cash equivalents	82,173	66,277	(31,560)
Cash and cash equivalents, beginning of year	93,162	26,885	58,445
Cash and cash equivalents, end of year	175,335	93,162	26,885
Cash paid during year
Interest	3,247	5,233	9,212
Income taxes	4,648	3,970	2,378
New Finance Lease
Fixed Asset	2,490		(1,158)
Lease liability	(2,490)		1,254
Deferred gain applied to bank premises and equipment			(96)
Transfer of unearned credit-related discount to allowance for loan losses			663
Adoption of ASU 2016-02 - Other assets			1,552
Adoption of ASU 2016-02 - Other liabilities			(1,552)
Transfers from Fixed Assets to Other Assets	700
Extension of operating lease-other assets		29
Extension of operating lease-other liabilities		$ (29)

NOTE 1 - SUMMARY OF SIGNIFICANT

NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	12 Months Ended
	Dec. 31, 2021
Accounting Policies [Abstract]
NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Salisbury Bancorp, Inc. (“Salisbury” or the “Company”) is the bank holding company for Salisbury Bank (the “Bank”), a State chartered commercial bank. Salisbury's activity is currently limited to the holding of the Bank's outstanding capital stock and the Bank is Salisbury's only subsidiary and its primary investment. The Bank is a Connecticut chartered and Federal Deposit Insurance Corporation (the "FDIC") insured commercial bank headquartered in Lakeville, Connecticut. The Bank's principal business consists of attracting deposits from the public and using such deposits, with other funds, to make various types of loans and investments. The Bank conducts its business through fourteen full-service offices located in the Counties of Litchfield Connecticut, Berkshire, Massachusetts and Dutchess, Orange and Ulster, New York. Principles of Consolidation The consolidated financial statements include those of Salisbury and the Bank after elimination of all inter-company accounts and transactions. Basis of Financial Statement Presentation The consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America and general practices within the financial services industry. In preparing the consolidated 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 consolidated 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 and potential impairment of goodwill and intangibles. Certain reclassifications have been made to the 2020 and 2019 consolidated financial statements to make them consistent with the 2021 presentation. Cash and Cash Equivalents Cash and cash equivalents include cash and balances due from banks and interest-bearing demand deposits in other banks. Due to the nature of cash and cash equivalents, Salisbury estimated that the carrying amount of such instruments approximated fair value. The nature of the Bank’s business requires that it maintain amounts due from banks which, at times, may exceed federally insured limits. The Bank has not experienced any losses on such amounts and all amounts are maintained with well-capitalized institutions. Interest Bearing Time Deposits with Financial Institutions Interest bearing time deposits are balances held in CD’s in a CDARS program. Due to the nature of time deposits, Salisbury estimated that the carrying amount of such instruments are at par. Securities Securities that may be sold as part of Salisbury's asset/liability or liquidity management or in response to or in anticipation of changes in interest rates and resulting prepayment risk, or for other similar factors, are classified as available-for-sale and carried at their fair value. Unrealized holding gains and losses on such securities are reported net of related taxes, if applicable, as a separate component of shareholders' equity. Securities that Salisbury has the ability and positive intent to hold to maturity are classified as held-to-maturity and carried at amortized cost. Realized gains and losses on the sales of all securities are reported in earnings and computed using the specific identification cost basis. Securities are reviewed regularly for other-than-temporary impairment (“OTTI”). Premiums and discounts are amortized or accreted utilizing the interest method over the life or call of the term of the investment security. For any debt security with a fair value less than its amortized cost basis, Salisbury will determine whether it has the intent to sell the debt security or whether it is more likely than not it will be required to sell the debt security before the recovery of its amortized cost basis. If either condition is met, Salisbury will recognize a full impairment charge to earnings. For all other debt securities that are considered OTTI and do not meet either condition, the credit loss portion of impairment will be recognized in earnings as realized losses. Mutual Funds The Company holds a mutual fund investment which is reported as an equity investment with a readily determined fair value. Changes in the fair value of the mutual fund holding are reported in income as gains (losses) on CRA mutual fund with a corresponding increase or decrease in its carrying value on the consolidated balance sheet. Federal Home Loan Bank of Boston Stock The Bank is a member of the Federal Home Loan Bank of Boston (“FHLBB”). The 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 December 31, 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. Loans Loans receivable consist of loans that management has the intent and ability to hold for the foreseeable future or until maturity or pay-off. Loans receivable are reported at their outstanding principal balance, net of unamortized deferred loan origination fees and costs on originated loans and unamortized premiums on purchased loans. Interest income is accrued on the unpaid principal balance. Deferred loan origination fees and costs are amortized as an adjustment to yield over the lives of the related loans. Loans receivable includes loans processed under the SBA’s PPP program. The PPP loans are reported at their outstanding principal balance, net of unamortized deferred loan origination fees and costs on originated loans. Interest income is accrued on the unpaid principal balance. Deferred loan origination fees and costs are amortized as an adjustment to yield over the lives of the related loans. The Bank’s loans collateralized by real estate and all other real estate owned (“OREO”) are located principally in northwestern Connecticut and New York and Massachusetts towns, which constitute Salisbury's service area. Accordingly, the collectability of a substantial portion of the loan portfolio and OREO is susceptible to changes in market conditions in Salisbury’s service area. While management uses available information to recognize losses on loans and OREO, future additions to the allowance or write-downs of OREO may be necessary based on changes in local economic conditions, particularly in Salisbury’s service area. Loans held-for-sale consist of residential mortgage loans that management has the intent to sell. Loans held-for-sale are valued at the lower of cost or market as determined by outstanding commitments from investors or current investor yield requirements calculated on the aggregate loan basis, net of deferred loan origination fees and costs. Changes in the carrying value, deferred loan origination fees and costs, and realized gains and losses on sales of loans held-for-sale are reported in earnings as gains and losses on sales of mortgage loans, net, when the proceeds are received from investors. The accrual of interest on loans, including troubled debt restructured loans, is generally discontinued when principal or interest is past due by 90 days or more, or earlier when, in the opinion of management, full collection of principal or interest is unlikely, except for loans that are well collateralized, in the process of collection and where full collection of principal and interest is assured. When a loan is placed on non-accrual status, interest previously accrued but not collected is reversed against current income. Income on such loans, including impaired loans, is then recognized only to the extent that cash is received and future collection of principal is probable. Loans, including troubled debt restructured loans, are restored to accrual status when principal and interest payments are brought current and future payments are reasonably assured, following a sustained period of repayment performance by the borrower in accordance with the loan's contractual terms. Troubled debt restructured loans include those for which concessions such as reduction of interest rates, other than normal market rate adjustments, or deferral of principal or interest payments, extension of maturity dates, or reduction of principal balance or accrued interest, have been granted due to a borrower’s financial condition. The decision to restructure a loan, versus aggressively enforcing the collection of the loan, may benefit Salisbury by increasing the ultimate probability of collection. Troubled debt restructured loans are classified as accruing or non-accruing based on management’s assessment of the collectability of the loan. Loans which are already on non-accrual status at the time of the troubled debt restructuring generally remain on non-accrual status for approximately six months before management considers such loans for return to accruing status. Accruing troubled debt restructured loans are generally placed into non-accrual status if and when the borrower fails to comply with the restructured terms. On March 22, 2020, the federal banking agencies issued an “Interagency Statement on Loan Modifications and Reporting for Financial Institutions Working with Customers Affected by the Coronavirus”. and implemented a loan payment deferral program which allows residential, commercial and consumer borrowers, who have been adversely affected by the virus and whose loans were not more than 30 days past due at December 31, 2019, to defer loan payments for up to three months. As of December 31, 2021, Salisbury was not deferring payments on any commercial, residential or consumer loans. Allowance for Loan Losses The allowance for loan losses represents management’s estimate of the probable credit losses inherent in the loan portfolio as of the reporting date. The allowance is increased by provisions charged to earnings and by recoveries of amounts previously charged off, and is reduced by loan charge-offs. Loan charge-offs are recognized when management determines a loan or portion of a loan to be uncollectible. The determination of the adequacy of the allowance is based on management’s ongoing review of numerous factors, including the growth and composition of the loan portfolio, historical loss experience over an economic cycle, probable credit losses based upon internal and external portfolio reviews, credit risk concentrations, changes in lending policy, current economic conditions, analysis of current levels and asset quality, delinquency levels and trends, estimates of the current value of underlying collateral, the performance of individual loans in relation to contract terms, and other pertinent factors. Determining the adequacy of the allowance and reserves at any given period is difficult, particularly during deteriorating or uncertain economic periods, and management must make estimates using assumptions and information that are often subjective and changing rapidly. The review of credit exposure related to loans is a continuing event in light of the pandemic, a changing economy and the dynamics of the banking and regulatory environment. Should the economic climate deteriorate, borrowers could experience difficulty and the level of non-performing loans, charge-offs and delinquencies could rise, requiring increased provisions and reserves. Changes in the estimate are recorded in the results of operations in the period in which they become known, along with provisions for estimated losses incurred during that period. In management's judgment, Salisbury remains adequately reserved both against total loans and non-performing loans at December 31, 2021. Management’s loan risk rating assignments, loss percentages and specific reserves are subjected annually to an independent credit review by an external firm. In addition, the Bank is examined annually on a rotational basis by one of its two primary regulatory agencies, the FDIC and Connecticut Department of Banking (CTDOB). As an integral part of their examination process, the FDIC and CTDOB review the adequacy and methodology of the Bank's credit risk ratings and allowance for loan losses. The allowance for loan losses is computed by segregating the portfolio into three components: (1) loans collectively evaluated for impairment: general loss allocation factors for non-impaired loans based on loan product, collateral type and abundance, loan risk rating, historical loss experience, delinquency factors and other similar economic indicators, (2) loans individually evaluated for impairment: individual loss allocations for loans deemed to be impaired based on discounted cash flows or collateral value, and (3) unallocated: general loss allocations for other environmental factors. Loans collectively evaluated for impairment The component of the allowance for loan losses for loans collectively evaluated for impairment is estimated by stratifying loans into segments and credit risk ratings and then applying management’s general loss allocation factors. Salisbury stratified its loans into the following loan segments: residential real estate secured (residential 1-4 family and 5+ multifamily, construction of residential 1-4 family, and home equity lines of credit), commercial real estate secured (commercial and construction of commercial), secured by land (farm and vacant land), commercial and industrial, municipal and consumer. The general loss allocation factors are based on expected loss experience adjusted for historical loss experience and other qualitative factors, including levels or trends in delinquencies; trends in volume and terms of loans; effects of changes in risk selection and underwriting standards and other changes in lending policies, procedures and practices; experience/ability/depth of lending management and staff; and national and local economic trends and conditions. The qualitative factors are determined based on the various risk characteristics of each loan segment and are risk-weighted such that higher risk loans generally have a higher reserve percentage. In second quarter 2020, management added a new discrete loan pool for loans deemed to be a higher risk due to COVID-19. This new loan pool included commercial real estate and commercial and industrial loans that were deemed by management to be a higher risk of default as a result of the pandemic as well as residential and consumer loans which have been granted a second loan payment deferral by management. In addition, management increased the risk weights for loans with an internal risk rating of “4” (Watch), “5” (Special Mention) and “6” (Substandard”) to reflect the higher degree of inherent credit risk associated with these loans as a result of COVID-19. Management reduced these risk weights back to their pre-COVID-19 levels in first quarter 2021 because the pre-COVID risk weights currently reflect the inherent risk of loss within these risk ratings, and management began to receive more timely and transparent information to determine if a downgrade in a loan rating was deemed necessary as the economy transitioned beyond COVID-19. In second quarter 2021, approximately $56 million of loans were moved out of the discrete COVID-19 pool, which carries higher loan loss reserve rates, and back to their pre-pandemic pool and in fourth quarter 2021, all remaining loans in the COVID-19 pool were moved back to their pre-pandemic pool. These loans were deemed by management to be a lower risk of default because the level of business activity and liquidity of these businesses substantially returned to pre-pandemic levels and the borrowers were current on loan payments. The qualitative factors are determined based on the various risk characteristics of each loan segment. Risk characteristics relevant to each portfolio segment are as follows: Residential real estate Commercial real estate Construction loans Commercial and industrial loans Farm Vacant land Municipal loans Consumer loans Loans individually evaluated for impairment This component relates to loans that are classified as impaired. Impairment is measured on a loan by loan basis for all portfolio loans (except consumer loans and homogeneous residential real estate loans) by either the present value of expected future cash flows discounted at the loan’s effective interest rate, the fair value of the collateral if the loan is collateral dependent or third-party market loan pricing. An allowance is established when the discounted cash flows (or collateral value) of the impaired loan are lower than the carrying value of that loan. A loan is considered impaired when, based on current information and events, it is probable that Salisbury will be unable to collect the scheduled payments of principal or interest when due according to the contractual terms of the loan agreement. Factors considered by management in determining impairment include payment status, collateral value, and the probability of collecting scheduled principal and interest payments when due. Loans that experience insignificant payment delays and payment shortfalls generally are not classified as impaired. Management determines the significance of payment delays and payment shortfalls on a case-by-case basis, taking into consideration all of the circumstances surrounding the loan and the borrower, including the length of the delay, the reasons for the delay, the borrower’s prior payment record, and the amount of the shortfall in relation to the principal and interest owed. In seeking to protect the best interests of the Bank, Salisbury may agree to modify the contractual terms of loans. When a loan is modified and a concession is made to a borrower experiencing financial difficulty, the modification is considered a troubled debt restructuring ("TDR"). All TDRs are classified as impaired. Unallocated An unallocated component is maintained to cover uncertainties that could affect management’s estimate of probable losses. The unallocated component of the allowance reflects the margin of imprecision inherent in the underlying assumptions used in the methodologies for estimating allocated and general reserves in the portfolio. Transfers of Financial Assets Transfers of an entire financial asset, a group of entire financial assets, or participating interest in an entire financial asset are accounted for as sales when control over the assets has been surrendered. Control over transferred assets is deemed to be surrendered when (1) the assets have been isolated from the Company, (2) the transferee obtains the right to pledge or exchange the transferred assets, and (3) the Company does not retain control over the assets. During the normal course of business, the Company may transfer a portion of a financial asset, for example, a participation loan or the government guaranteed portion of a loan. In order to be eligible for sales treatment, the transfer of the portion of the loan must meet the criteria of a participating interest. If it does not meet the criteria of a participating interest, the transfer must be accounted for as a secured borrowing. In order to meet the criteria for a participating interest, all cash flows from the loan must be divided proportionately, the rights of each loan holder must have the same priority, the loan holders must have no recourse to the transferor other than standard representations and warranties and no loan holder has the right to pledge or exchange the entire loan. Mortgage Servicing Rights As part of our growth and risk management strategy, Salisbury from time to sells whole loans. typically residential loans. Salisbury’s ability to sell whole loans benefits the Bank by freeing up capital and funding to lend to new customers. Additionally, we typically earn a gain on the sale of loans sold and receive a servicing fee while maintaining the customer relationship. Mortgage (“MSRs”), which the bank evaluates with the assistance of a third party on a quarterly basis, are included on the consolidated balance and are accounted for under the amortization method. that method mortgage servicing rights are amortized in proportion to, and over the period of, estimated net servicing revenues. Refinance activities are considered in estimating the period of net servicing revenues. Other Real Estate Owned (“OREO”) OREO consists of properties acquired through foreclosure or a deed in lieu of foreclosure. These properties are initially transferred at fair value less estimated costs to sell. Any write-down from cost to estimated fair value required at the time of foreclosure is charged to the allowance for loan losses. A valuation allowance is maintained for declines in market value and for estimated selling expenses. Increases to the valuation allowance, expenses associated with ownership of these properties, and gains and losses from their sale are included in OREO expense. As of December 31, 2021, and 2020, the recorded investment in residential mortgage loans collateralized by residential real estate that were in the process of foreclosure was $ 0.0 0.1 Income Taxes Deferred income taxes are provided for differences arising in the timing of income and expenses for financial reporting and for income tax purposes using the asset/liability method of accounting for income taxes. Deferred income taxes and tax benefits are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. Salisbury provides deferred taxes for the estimated future tax effects attributable to temporary differences and carry-forwards when realization is assured beyond a reasonable doubt. A valuation allowance is established against deferred tax assets when, based upon all available evidence, it is determined that it is more likely than not that some or all of the deferred tax assets will not be realized. Bank Premises and Equipment Bank premises, furniture and equipment are carried at cost, less accumulated depreciation and amortization computed on the straight-line method over the estimated useful lives of the assets. Leasehold improvements are amortized on the straight-line basis over the shorter of the estimated useful lives of the improvements or the term of the related leases. Guidelines for expected useful life are as follows: • Buildings/Improvements – 39 years • Land Improvements – 15 years • Furniture and Fixtures – 7 years • Computer Equipment – 5 years • Software – 3 years Intangible Assets Intangible assets consist of core deposit intangibles and goodwill. Intangible assets equal the excess of the purchase price over the fair value of the tangible net assets acquired in business combinations accounted for using the acquisition method of accounting. Salisbury’s intangible assets at December 31, 2021, and 2020, include goodwill of $ 2.4 7.2 319 2.7 1.3 On an annual basis, management assesses intangible assets for impairment. For fiscal year 2019, this assessment was performed as of December 31, 2019. For fiscal years 2021 and 2020, however, management performed the assessment as of November 30 th Derivative Instruments and Hedging Activities As required by ASC 815, the Company records all derivatives on the balance sheet at fair value. The accounting for changes in the fair value of derivatives depends on the intended use of the derivative, whether the Company has elected to designate a derivative in a hedging relationship and apply hedge accounting and whether the hedging relationship has satisfied the criteria necessary to apply hedge accounting. Derivatives designated and qualifying as a hedge of the exposure to changes in the fair value of an asset, liability, or firm commitment attributable to a particular risk, such as interest rate risk, are considered fair value hedges. Derivatives designated and qualifying as a hedge of the exposure to variability in expected future cash flows, or other types of forecasted transactions, are considered cash flow hedges. Derivatives may also be designated as hedges of the foreign currency exposure of a net investment in a foreign operation. Hedge accounting generally provides for the matching of the timing of gain or loss recognition on the hedging instrument with the recognition of the changes in the fair value of the hedged asset or liability that are attributable to the hedged risk in a fair value hedge or the earnings effect of the hedged forecasted transactions in a cash flow hedge. The Company may enter into derivative contracts that are intended to economically hedge certain of its risk, even though hedge accounting does not apply or the Company elects not to apply hedge accounting. In accordance with the FASB’s fair value measurement guidance in Topic 825, the Company made an accounting policy election to measure the credit risk of its derivative financial instruments that are subject to master netting agreements on a net basis by counterparty portfolio. Bank-Owned Life Insurance Bank-owned life insurance policies are reflected on the consolidated balance sheet at cash surrender value. Changes in the net cash surrender value of the policies, as well as insurance proceeds received, are reflected in non-interest income on the consolidated statements of income and are generally not subject to income taxes. The Bank reviews the financial strength of the insurance carriers prior to the purchase of life insurance policies and no less than annually thereafter. A life insurance policy with any individual carrier is limited to 15% of tier one capital and the total cash surrender value of the life insurance policies is limited to 25% of tier one capital. Stock Based Compensation Stock based compensation expense is recognized, based on the fair value at the date of grant on a straight-line basis over the period of time between the grant date and vesting date. The expense for performance based restricted stock awards is accrued over a three year performance period based on the probability of achieving pre-determined thresholds or metrics. Advertising Expense Advertising costs of $ 704 393 Statements of Cash Flows For the purpose of the Consolidated Statements of Cash Flows, cash and cash equivalents include cash and due from banks and interest-bearing demand deposits with other financial institutions. Computation of Earnings per Share The Company 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. Unvested performance based restricted stock units issued by the Company do not contain non-forfeitable rights to dividends and are not deemed to be participating securities. 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. Revenue Recognition A significant portion of Salisbury’s revenue, including interest income from loans and investments, falls outside the scope of ASC 606. Revenue from Salisbury’s Trust and Wealth Advisory business, service charges and fees and interchange fees, however, are within the scope of ASC 606. Revenue for these in-scope services are recognized when, or as, obligations under the terms of a contract are satisfied, which occurs when the services are transferred to customers. Revenue is measured as the amount of consideration Salisbury expects to receive in exchange for providing the services to a customer (“transaction price”). To the extent the transaction price includes variable consideration, Salisbury estimates the amount of variable consideration that should be included in the transaction price utilizing the most likely amount to which Salisbury expects to be entitled. Variable consideration is included in the transaction price if, in Salisbury’s judgment, it is probable that a significant future reversal of cumulative revenue under the contract will not occur. Estimates of variable consideration and determination of whether to include estimated amounts in the transaction price are based largely on an assessment of Salisbury’s anticipated performance and all information (historical, current, and forecasted) that is reasonably available. Sales, value add, and other taxes collected on behalf of third parties are excluded from revenue. Contracts with customers may contain multiple performance obligations. For such arrangements, the transaction price is allocated to each performance obligation based on the estimated relative standalone selling prices of the promised services underlying each performance obligation. Salisbury determines standalone selling prices based on the price at which the performance obligation is sold separately. If the standalone selling price is not observable through fee schedules provided to its customers or through past transactions, Salisbury estimates the standalone selling price taking into account available information such as market conditions and internally approved pricing guidelines related to the performance obligations. Contracts are often modified to account for changes in contract specifications and requirements. Contract modifications exist when the modification either creates new or changes the existing enforceable rights and obligations. Generally, contract modifications are for products or services that are distinct from the existing contract and are accounted for as if they were a new and separate contract. The original contract is still accounted for according to its original terms. Trust and Wealth Advisory The Trust and Wealth Advisory business generates revenue through a range of fiduciary services including trust and estate administration, wealth advisory, and investment management to individuals, families, businesses and institutions. Revenue from these services is generally recognized over time and are typically based on the market value of assets under administration and established fee schedules. Certain fees, such as real estate sale fees, asset liquidation fees, special asset fees, and daily money management fees, are recorded as revenue at a point in time at the completion of the service. Service Charges and Fees Salisbury offers a variety of deposit accounts with a range of interest rates and other terms, which are designed to meet customer financial needs. Monthly deposit account fees and account research fees are recognized over time using the right to invoice measure of progress. Overdraft protection, ATM services, cash management, bill pay, money transfe

NOTE 2 - SECURITIES

NOTE 2 - SECURITIES	12 Months Ended
	Dec. 31, 2021
Investments, Debt and Equity Securities [Abstract]
NOTE 2 - SECURITIES	NOTE 2 - SECURITIES The composition of securities is as follows: (in thousands) Amortized Gross un- realized gains Gross un- realized losses Fair value December 31, 2021 Available-for-sale U.S. Treasury $ 15,301 $ 12 $ 182 $ 15,131 U.S. Government Agency notes 31,623 237 256 31,604 Municipal bonds 46,469 1,557 204 47,822 Mortgage-backed securities: U.S. Government agencies and U.S. Government- sponsored enterprises 74,703 643 805 74,541 Collateralized mortgage obligations: U.S. Government agencies 20,948 135 185 20,898 Corporate bonds 12,250 158 8 12,400 Total securities available-for-sale $ 201,294 $ 2,742 $ 1,640 $ 202,396 CRA mutual fund $ 901 Non-marketable securities Federal Home Loan Bank of Boston stock $ 1,397 $ — $ — $ 1,397 (in thousands) Amortized 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 Sales of securities available-for-sale and gross gains and gross losses realized are as follows: Years ended December 31, (in thousands) 2021 2020 2019 Proceeds $ 3,311 $ 15,589 $ 41,814 Gains realized 56 293 371 Losses realized (65 ) (97 ) (108 ) Net (losses) gains realized (9 ) 196 263 Income tax (benefit) provision (2 ) 41 55 The following table summarizes the aggregate fair value and gross unrealized loss of securities that have been in a continuous unrealized loss position as of the dates presented: Less than 12 Months 12 Months or Longer Total December 31, 2021 (in thousands) Fair Unrealized losses Fair Unrealized losses Fair Unrealized losses Available-for-sale U.S. Treasury $ 12,155 $ 182 $ — $ — $ 12,155 $ 182 U.S. Government Agency notes 22,137 235 2,019 21 24,156 256 Municipal bonds 12,496 204 552 — 13,048 204 Mortgage- backed securities: U.S. Government agencies and U.S. Government - sponsored enterprises 52,619 740 3,195 65 55,814 805 Collateralized mortgage obligations 11,554 185 — — 11,554 185 Corporate bonds 1,742 8 — — 1,742 8 Total temporarily impaired securities $ 112,703 $ 1,554 $ 5,766 $ 86 $ 118,469 $ 1,640 Less than 12 Months 12 Months or Longer Total December 31, 2020 (in thousands) Fair Unrealized losses Fair Unrealized losses Fair 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. December 31, 2021 (in thousands) Maturity Amortized cost Fair value Yield (1) U.S. Treasury After 1 year but within 5 years $ 1,984 $ 1,986 1.16 % After 5 year but within 10 years 13,317 13,145 1.17 Total 15,301 15,131 1.17 U.S. Government Agency notes After 5 year but within 10 years 15,905 15,694 1.23 Total 15,905 15,694 1.23 Municipal bonds After 5 year but within 10 years 6,575 6,789 2.39 After 10 years but within 15 years 18,997 19,456 2.47 After 15 years 20,897 21,577 2.66 Total 46,469 47,822 2.54 Mortgage-backed securities and Collateralized mortgage obligations Securities not due at a single maturity date 111,369 111,348 1.71 Total 111,369 111,348 1.71 Corporate bonds After 5 years but within 10 years 11,750 11,900 4.39 After 10 years but within 15 years 500 500 3.75 Total 12,250 12,400 4.36 Securities available-for-sale $ 201,294 $ 202,396 2.05 % (1) Yield is based on amortized cost. 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 debt securities were OTTI at December 31, 2021. U.S. Treasury notes: The contractual cash flows are guaranteed by the U.S. government. Five securities had unrealized losses at December 31, 2021, which approximated 1.47% 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 December 31, 2021. U.S. Government Agency notes: The contractual cash flows are guaranteed by the U.S. government. Twenty-two securities had unrealized losses at December 31, 2021, which approximated 1.05% 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 December 31, 2021. Municipal bonds: Salisbury performed a detailed analysis of the municipal bond portfolio. Fifteen securities were in an unrealized loss position at December 31, 2021, which approximated 1.54% of its amortized cost. Management believes the unrealized loss positions are 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 December 31, 2021. U.S. Government agency and U.S. Government-sponsored mortgage-backed securities and collateralized mortgage obligations: The contractual cash flows are guaranteed by U.S. government agencies and U.S. government-sponsored enterprises. Sixty six securities had unrealized losses at December 31, 2021, which approximated 1.43% 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 December 31, 2021. Corporate bonds: Salisbury regularly monitors and analyzes its corporate bond portfolio for credit quality. Two securities had unrealized losses at December 31, 2021, which approximated 0.47% 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 December 31, 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 December 31, 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	12 Months Ended
	Dec. 31, 2021
Receivables [Abstract]
NOTE 3 - LOANS	NOTE 3 - LOANS The composition of loans receivable and loans held-for-sale is as follows: December 31, 2021 2020 (in thousands) Total Loans Total Loans Residential 1-4 family $ 373,131 $ 352,001 Residential 5+ multifamily 52,325 37,058 Construction of residential 1-4 family 19,738 8,814 Home equity lines of credit 23,270 27,804 Residential real estate 468,464 425,677 Commercial 310,923 310,841 Construction of commercial 58,838 31,722 Commercial real estate 369,761 342,563 Farm land 2,807 3,198 Vacant land 14,182 14,079 Real estate secured 855,214 785,517 Commercial and industrial ex PPP Loans 169,543 140,516 PPP Loans 25,589 86,632 Total Commercial and industrial 195,132 227,148 Municipal 16,534 21,512 Consumer 12,547 7,687 Loans receivable, gross 1,079,427 1,041,864 Deferred loan origination costs (fees), net 285 (372 ) Allowance for loan losses (12,962 ) (13,754 ) Loans receivable, net $ 1,066,750 $ 1,027,738 Loans held-for-sale Residential 1-4 family $ 2,684 $ 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 December 31, 2021 and 2020, Salisbury serviced commercial loans for other banks under loan participation agreements totaling $ 77.5 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 from the economic downturn caused by the COVID-19 virus pandemic (“virus”). Approximately 43% 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 11% 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 a ski resort, bowling alleys 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 179% as of December 31, 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. Management is currently unable to predict the extent to which the COVID-19 pandemic may adversely affect the ability of some borrowers to make timely loan payments. As a result, the Bank may experience higher loan payment delinquencies and higher loan charge-offs, which could warrant increased provisions for loan losses. In 2020, Salisbury processed 932 100 Salisbury processed 472 48 651 2.9 683 1.4 26 0.8 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 FDIC and the CTDOB. The composition of loans receivable by risk rating grade is as follows: (in thousands) Pass Special mention Substandard Doubtful Loss Total December 31, 2021 Residential 1-4 family $ 367,225 $ 3,543 $ 2,363 $ — $ — $ 373,131 Residential 5+ multifamily 50,588 79 1,658 — — 52,325 Construction of residential 1-4 family 19,738 — — — — 19,738 Home equity lines of credit 23,037 212 21 — — 23,270 Residential real estate 460,588 3,834 4,042 — — 468,464 Commercial 271,821 16,034 23,068 — — 310,923 Construction of commercial 58,838 — — — — 58,838 Commercial real estate 330,659 16,034 23,068 — — 369,761 Farm land 1,162 1,214 431 — — 2,807 Vacant land 14,143 39 — — — 14,182 Real estate secured 806,552 21,121 27,541 — — 855,214 Commercial and industrial 191,857 688 2,587 — — 195,132 Municipal 16,534 — — — — 16,534 Consumer 12,547 — — — — 12,547 Loans receivable, gross $ 1,027,490 $ 21,809 $ 30,128 $ — $ — $ 1,079,427 (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 is as follows: Past due (In thousands) Current 30-59 days 60-89 days 90-179 days 180 days and over 30 days and over Accruing 90 days and over Non- accrual December 31, 2021 Residential 1-4 family $ 372,620 $ 223 $ 135 $ 63 $ 90 $ 511 $ — $ 750 Residential 5+ multifamily 51,464 — — — 861 861 — 861 Construction of residential 1-4 family 19,668 — 70 — — 70 — — Home equity lines of credit 23,000 165 98 — 7 270 — 21 Residential real estate 466,752 388 303 63 958 1,712 — 1,632 Commercial 310,331 87 251 — 254 592 — 1,924 Construction of commercial 58,838 — — — — — — — Commercial real estate 369,169 87 251 — 254 592 — 1,924 Farm land 2,807 — — — — — — 432 Vacant land 14,182 — — — — — — — Real estate secured 852,910 475 554 63 1,212 2,304 — 3,988 Commercial and industrial 194,838 250 32 1 11 294 11 200 Municipal 16,534 — — — — — — — Consumer 12,503 40 4 — — 44 — — Loans receivable, gross $ 1,076,785 $ 765 $ 590 $ 64 $ 1,223 $ 2,642 $ 11 $ 4,188 Past due (In thousands) Current 30-59 days 60-89 days 90-179 days 180 days and over 30 days and over Accruing 90 days and over Non- 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) Troubled debt restructurings occurring during the years ended December 31, 2021 and 2020: Business Activities Loans December 31, 2021 December 31, 2020 (in thousands) Quantity Pre-modification balance Post-modification balance Quantity Pre-modification balance Post-modification balance Residential real estate 1 $ 74 $ 74 1 $ 180 $ 180 Commercial real estate — — — 1 133 133 Consumer — — — — — — Troubled debt restructurings 1 $ 74 $ 74 2 $ 313 $ 313 Interest only payments to sell property — $ — $ — — $ — $ — Rate reduction — — — — — — Modification and Rate reduction — — — — — — Extension of new funds to pay outstanding taxes — — — — — — Modification and term extension 1 74 74 2 313 313 Troubled debt restructurings 1 $ 74 $ 74 2 $ 313 $ 313 For the twelve months ended December 2021, there was one troubled debt restructuring. Salisbury currently does not have any commitments to lend additional funds to TDR loans. The following table discloses the recorded investment and number of modifications for TDRs within the last year where a concession has been made, that then defaulted in the current reporting period. All TDR loans are included in the Impaired Loan schedule and are individually evaluated. Modifications that Subsequently Defaulted For the twelve months ending December 31, 2021 For the twelve months ending December 31, 2020 Quantity Balance Quantity Balance Troubled Debt Restructurings Residential 1-4 family 1 74 1 178 Commercial real estate — — — — Total 1 74 1 178 Impaired loans Loans individually evaluated for impairment (impaired loans) are loans for which Salisbury does not expect to collect all principal and interest in accordance with the contractual terms of the loan. Impaired loans include all modified loans classified as TDRs and loans on non-accrual status. The components of impaired loans are as follows: December 31, (in thousands) 2021 2020 Non-accrual loans, excluding troubled debt restructured loans $ 2,838 $ 4,091 Non-accrual troubled debt restructured loans 1,350 1,546 Accruing troubled debt restructured loans 3,609 6,272 Total impaired loans $ 7,797 $ 11,909 Commitments to lend additional amounts to impaired borrowers $ — $ — Allowance for Loan Losses Year Ended December 31, 2021 Year Ended December 31, 2020 (in thousands) Beginning balance Provision (release) Charge- offs Reco- veries Ending balance Beginning balance Provision (release) Charge- offs Reco- veries Ending balance Residential 1-4 family $ 2,646 $ 225 $ (44 ) $ 19 $ 2,846 $ 2,393 $ 255 $ (11 ) $ 9 $ 2,646 Residential 5+ multifamily 686 131 — — 817 446 282 (42 ) — 686 Construction of residential 1-4 family 65 121 — — 186 75 (10 ) — — 65 Home equity lines of credit 252 (34 ) (21 ) 1 198 197 (197 ) — 252 252 Residential real estate 3,649 443 (65 ) 20 4,047 3,111 330 (53 ) 261 3,649 Commercial 6,546 (1,260 ) (6 ) 136 5,416 3,742 2,776 (17 ) 45 6,546 Construction of commercial 596 447 (18 ) — 1,025 104 492 — — 596 Commercial real estate 7,142 (813 ) (24 ) 136 6,441 3,846 3,268 (17 ) 45 7,142 Farm land 59 (39 ) (2 ) 3 21 47 12 — — 59 Vacant land 180 (86 ) — 1 95 71 109 — — 180 Real estate secured 11,030 (495 ) (91 ) 160 10,604 7,075 3,719 (70 ) 306 11,030 Commercial and industrial 1,397 45 (131 ) 53 1,364 1,145 612 (362 ) 2 1,397 Municipal 43 (12 ) — — 31 46 (3 ) — — 43 Consumer 77 68 (59 ) (4 ) 82 60 72 (70 ) 15 77 Unallocated 1,207 (326 ) — — 881 569 638 — — 1,207 Totals $ 13,754 $ (720 ) $ (281 ) $ 209 $ 12,962 $ 8,895 $ 5,038 $ (502 ) $ 323 $ 13,754 December 31, 2019 (in thousands) Beginning balance Acquisition Discount Transfer Provision (release) Charge- offs Reco- veries Ending balance Residential 1-4 family $ 2,149 $ 10 $ 367 $ (136 ) $ 3 $ 2,393 Residential 5+ multifamily 413 — 33 — — 446 Construction of residential 1-4 family 83 — (8 ) — — 75 Home equity lines of credit 219 1 258 (281 ) — 197 Residential real estate 2,864 11 650 (417 ) 3 3,111 Commercial 3,048 488 248 (44 ) 2 3,742 Construction of commercial 122 — (18 ) — — 104 Commercial real estate 3,170 488 230 (44 ) 2 3,846 Farm land 33 — 14 — — 47 Vacant land 100 — (29 ) — — 71 Real estate secured 6,167 499 865 (461 ) 5 7,075 Commercial and industrial 1,158 164 (78 ) (145 ) 46 1,145 Municipal 12 — 34 — — 46 Consumer 56 — 3 (36 ) 37 60 Unallocated 438 — 131 — — 569 Totals $ 7,831 $ 663 $ 955 $ (642 ) $ 88 $ 8,895 The composition of loans receivable and the allowance for loan losses is as follows: (in thousands) Collectively evaluated Individually evaluated Total portfolio Loans Allowance Loans Allowance Loans Allowance December 31, 2021 Residential 1-4 family $ 370,558 $ 2,845 $ 2,573 $ 1 $ 373,131 $ 2,846 Residential 5+ multifamily 51,376 817 949 — 52,325 817 Construction of residential 1-4 family 19,738 186 — — 19,738 186 Home equity lines of credit 23,249 198 21 — 23,270 198 Residential real estate 464,921 4,046 3,543 1 468,464 4,047 Commercial 307,377 5,388 3,546 28 310,923 5,416 Construction of commercial 58,838 1,025 — — 58,838 1,025 Commercial real estate 366,215 6,413 3,546 28 369,761 6,441 Farm land 2,375 21 432 — 2,807 21 Vacant land 14,182 95 — — 14,182 95 Real estate secured 847,693 10,575 7,521 29 855,214 10,604 Commercial and industrial 194,856 1,297 276 67 195,132 1,364 Municipal 16,534 31 — — 16,534 31 Consumer 12,547 82 — — 12,547 82 Unallocated allowance — 881 — — — 881 Totals $ 1,071,630 $ 12,866 $ 7,797 $ 96 $ 1,079,427 $ 12,962 (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 December 31, 2021 (in thousands) Collectively evaluated Individually evaluated Total portfolio Loans Allowance Loans Allowance Loans Allowance Performing loans $ 1,046,614 $ 10,456 $ — $ — $ 1,046,614 $ 10,456 Potential problem loans 1 25,016 1,529 — — 25,016 1,529 Impaired loans — — 7,797 96 7,797 96 Unallocated allowance — 881 — — — 881 Totals $ 1,071,630 $ 12,866 $ 7,797 $ 96 $ 1,079,427 $ 12,962 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 collateral, in accordance with the most likely means of recovery. Certain data with respect to loans individually evaluated for impairment is as follows: 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, 2021 Residential $ 43 $ 44 $ 872 $ 1 $ 3 $ 3,480 $ 3,817 $ 3,689 $ 75 Home equity lines of credit — — 17 — — 21 23 131 — Residential real estate 43 44 889 1 3 3,501 3,840 3,820 75 Commercial 608 608 1,678 28 32 2,938 3,493 2,974 62 Construction of commercial — — — — — — — — — Farm land — — — — — 431 447 440 — Vacant land — — 56 — — — — 45 — Real estate secured 651 652 2,623 29 35 6,870 7,780 7,279 137 Commercial and industrial 216 224 309 67 3 60 72 90 — Consumer — — 6 — — — — 13 — Totals $ 867 $ 876 $ 2,938 $ 96 $ 38 $ 6,930 $ 7,852 $ 7,382 $ 137 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	12 Months Ended
	Dec. 31, 2021
Note 4 Leases
NOTE 4 – LEASES	NOTE 4 – LEASES The Bank leases facilities and equipment with various expiration dates. The facilities leases have varying renewal options, generally require fixed annual rent, and provide that real estate taxes, insurance, and maintenance are to be paid by Salisbury. 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 financial statements for the years ended December 31, 2021 and 2020. ($ in thousands) Classification December 31, 2021 December 31, 2020 Assets Operating Other assets $ 1,021 $ 1,182 Finance Bank premises and equipment 1 3,791 1,402 Total Leased Assets $ 4,812 $ 2,584 Liabilities Operating Accrued interest and other liabilities $ 1,021 $ 1,182 Finance Finance lease obligations 4,107 1,673 Total lease liabilities $ 5,128 $ 2,855 1 Net of accumulated depreciation of $ 496 396 Lease cost ($ in thousands) Classification Twelve months ended Twelve months ended December 31, 2021 December 31, 2020 Operating leases Premises and equipment $ 295 $ 261 Finance leases: Amortization of leased assets Premises and equipment 101 101 Interest on finance leases Interest expense 136 141 Total lease cost $ 532 $ 503 Weighted Average Remaining Lease Term December 31, 2021 December 31, 2020 Operating leases 6.9 years 7.6 years Financing leases 23.5 years 14.2 years Weighted Average Discount Rate 1 Operating leases 3.61 % 3.67 % Financing leases 4.97 % 8.37 % 1 Salisbury uses the most appropriate FHLBB Advance rates 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 as of December 31, 2021. Future minimum lease payments (in thousands) Finance Leases Operating Leases 2022 $ 293 $ 227 2023 296 167 2024 300 129 2025 305 136 2026 310 136 Thereafter 4,899 381 Total future minimum lease payments 6,403 1,176 Less amount representing interest (2,296 ) (155 ) Total present value of net future minimum lease payments $ 4,107 $ 1,021

NOTE 5 _ ASSETS HELD FOR SALE

NOTE 5 – ASSETS HELD FOR SALE	12 Months Ended
	Dec. 31, 2021
Property, Plant and Equipment [Abstract]
NOTE 5 – ASSETS HELD FOR SALE	NOTE 5 – ASSETS HELD FOR SALE In January 2022, the Bank relocated its retail branch in Poughkeepsie, New York to a leased facility nearby. As part of this relocation process, the Bank entered into an agreement with a third party to sell the building that houses its Poughkeepsie, New York retail branch . The sale was completed in January 2022. As of December 31, 2021, the former branch location met the accounting guidance criteria to be classified an asset held for sale. The asset is carried at fair value. 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 December 31, 2021: Buildings and leasehold improvements $ 700,000 An impairment expense of $ 144

NOTE 6 - MORTGAGE SERVICING RIG

NOTE 6 - MORTGAGE SERVICING RIGHTS	12 Months Ended
	Dec. 31, 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 Loans serviced for others are not included in the consolidated balance sheets. Balances of loans serviced for others and the fair value of mortgage servicing rights are as follows: December 31, (in thousands) 2021 2020 Residential mortgage loans serviced for others $ 140,623 $ 134,428 Fair value of mortgage servicing rights 1,043 762 Changes in mortgage servicing rights are as follows: Years ended December 31, (in thousands) 2021 2020 2019 Mortgage Servicing Rights Balance, beginning of period $ 621 $ 238 $ 228 Originated 314 534 61 Amortization (1) (235 ) (151 ) (51 ) Balance, end of period 700 621 238 Valuation Allowance Balance, beginning of period (9 ) — — Decrease (increase) in impairment reserve (1) 9 (9 ) — Balance, end of period — (9 ) — Mortgage servicing rights, net $ 700 $ 612 $ 238 (1) Amortization expense and changes in the impairment reserve are recorded in mortgage banking activities, net.

NOTE 7 - PLEDGED ASSETS

NOTE 7 - PLEDGED ASSETS	12 Months Ended
	Dec. 31, 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. December 31, (in thousands) 2021 2020 Securities available-for-sale (at fair value) $ 75,737 $ 54,581 Loans receivable (at book value) 378,845 420,415 Total pledged assets $ 454,582 $ 474,996 At December 31, 2021, securities were pledged as follows: $ 63.98 11.7 0.02

NOTE 8 - BANK PREMISES AND EQUI

NOTE 8 - BANK PREMISES AND EQUIPMENT	12 Months Ended
	Dec. 31, 2021
Property, Plant and Equipment [Abstract]
NOTE 8 - BANK PREMISES AND EQUIPMENT	NOTE 8 - BANK PREMISES AND EQUIPMENT The components of premises and equipment are as follows: December 31, (in thousands) 2021 2020 Land $ 3,277 $ 2,762 Buildings and improvements 18,246 14,886 Leasehold improvements 1,553 1,553 Finance leases 4,288 1,798 Furniture, fixtures, equipment and software 10,623 9,687 Fixed assets in process 347 4,839 Total cost 38,334 35,525 Accumulated depreciation and amortization (15,709 ) (15,170 ) Bank premises and equipment, net $ 22,625 $ 20,355

NOTE 9 - GOODWILL AND INTANGIBL

NOTE 9 - GOODWILL AND INTANGIBLE ASSETS	12 Months Ended
	Dec. 31, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
NOTE 9 - GOODWILL AND INTANGIBLE ASSETS	NOTE 9 - GOODWILL AND INTANGIBLE ASSETS Changes in the carrying values of goodwill and intangible assets were as follows: Years ended December 31, (in thousands) 2021 2020 2019 Goodwill (1) Balance, beginning of period $ 13,815 $ 13,815 $ 13,815 Additions — — — Impairment — — — Balance, end of period $ 13,815 $ 13,815 $ 13,815 Core deposit intangibles Cost, beginning of period $ 5,881 $ 5,881 $ 5,881 Additions — — — Cost, end of period 5,881 5,881 5,881 Amortization, beginning of period (5,207 ) (4,886 ) (4,498 ) Amortization (256 ) (321 ) (388 ) Amortization, end of period (5,463 ) (5,207 ) (4,886 ) Core deposit intangibles, net $ 418 $ 674 $ 995 (1) Not subject to amortization. Management evaluates goodwill and identifiable intangible assets for impairment at least annually using valuation techniques that involve observations and adjustments as to comparable transactions, estimates for discount rates, projected future cash flows and time period calculations, all of which are susceptible to change based on changes in economic conditions and other factors. During fiscal year 2021, management evaluated several qualitative factors including macroeconomic conditions, the Bank’s financial performance and the short-term volatility in Salisbury’s share price and concluded that it was not more likely than not that goodwill was impaired. The core deposit intangibles were recorded as identifiable intangible assets and are being amortized over ten years using the sum-of-the-years’ digits method. Estimated annual amortization expense of core deposit intangibles is as follows as of December 31, 2021: December 31, CDI amortization 2022 192 2023 128 2024 61 2025 25 2026 11 2027 and thereafter 1 Total $ 418

NOTE 10 - DEPOSITS

NOTE 10 - DEPOSITS	12 Months Ended
	Dec. 31, 2021
NOTE 10 - DEPOSITS	NOTE 10 - DEPOSITS Scheduled maturities of time certificates of deposit are as follows as of December 31, 2021: December 31, (in thousands) CD maturities 2022 $ 87,034 2023 15,403 2024 9,690 2025 4,138 2026 2,685 Thereafter 59 Total $ 119,009 The total amount and scheduled maturities of time certificates of deposit in denominations of $250 thousand or more are as follows: December 31, (in thousands) 2021 2020 Within three months $ 8,642 $ 4,045 After three through six months 1,010 17,218 After six through twelve months 4,938 4,851 Over one year 3,286 12,581 Total $ 17,876 $ 38,695 Included in certificates of deposit at December 31, 2021 and 2020 are brokered and reciprocal deposits of approximately $ 34.7 25.4 73.3 51.5

NOTE 11 _ SECURITIES SOLD UNDER

NOTE 11 – SECURITIES SOLD UNDER AGREEMENTS TO REPURCHASE	12 Months Ended
	Dec. 31, 2021
NOTE 11 – SECURITIES SOLD UNDER AGREEMENTS TO REPURCHASE	NOTE 11 – SECURITIES SOLD UNDER AGREEMENTS TO REPURCHASE Salisbury enters into overnight and short-term repurchase agreements with its customers. Securities sold under repurchase agreements are as follows: December 31, (dollars in thousands) 2021 2020 Repurchase agreements, ending balance $ 11,430 $ 7,116 Repurchase agreements, average balance during period 10,679 7,986 Book value of collateral 17,084 12,632 Market value of collateral 17,469 13,196 Weighted average rate during period 0.15 % 0.25 % Weighted average maturity 1 day 1 day

NOTE 12 _ FEDERAL HOME LOAN BAN

NOTE 12 – FEDERAL HOME LOAN BANK OF BOSTON ADVANCES AND OTHER BORROWED FUNDS	12 Months Ended
	Dec. 31, 2021
NOTE 12 – FEDERAL HOME LOAN BANK OF BOSTON ADVANCES AND OTHER BORROWED FUNDS	NOTE 12 – FEDERAL HOME LOAN BANK OF BOSTON ADVANCES AND OTHER BORROWED FUNDS Federal Home Loan Bank of Boston (“FHLBB”) advances are as follows: December 31, 2021 December 31, 2020 Years ended December 31, (dollars in thousands) Total (1) Rate (2) Total (1) Rate (2) Overnight $ — — % $ — — % 2021 — — 4,984 1.13 2022 7,656 1.39 7,655 1.38 Total $ 7,656 1.39 % $ 12,639 1.29 % (1) Net of modification costs. (2) Weighted average rate based on scheduled maturity dates. In addition to outstanding FHLBB advances, Salisbury has additional available borrowing capacity, based on current capital stock levels, of $ 250.9 3.5 20.0 Subordinated Debentures: In March 2021, Salisbury completed the issuance of $ 25.0 Subordinated debentures totaled $ 24.5 526 3.73 10 Notes Payable: In October 2015, Salisbury entered into a private mortgage for $ 380 6 170 208

NOTE 13 _ NET DEFERRED TAX ASSE

NOTE 13 – NET DEFERRED TAX ASSET AND INCOME TAXES	12 Months Ended
	Dec. 31, 2021
Income Tax Disclosure [Abstract]
NOTE 13 – NET DEFERRED TAX ASSET AND INCOME TAXES	NOTE 13 – NET DEFERRED TAX ASSET AND INCOME TAXES Salisbury provides deferred taxes for the estimated future tax effects attributable to temporary differences and carry-forwards when realization is more likely than not. The components of the income tax provision were as follows: Years ended December 31, (in thousands) 2021 2020 2019 Federal $ 3,340 $ 3,487 $ 2,406 State 538 566 344 Current provision 3,878 4,053 2,750 Federal 327 (1,335 ) (317 ) State 62 (265 ) (74 ) Deferred expense (benefit) 389 (1,600 ) (391 ) Income tax provision $ 4,267 $ 2,453 $ 2,359 The following is a reconciliation of the expected federal statutory tax to the income tax provision: Years ended December 31, (in thousands) 2021 2020 2019 Income tax at statutory federal tax rate 21.00 % 21.00 % 21.00 % State tax, net of federal tax benefit 2.30 1.97 1.58 Tax exempt income and dividends received deduction (2.52 ) (3.69 ) (3.82 ) BOLI interest and gain (0.56 ) (1.60 ) (0.61 ) Other 0.35 (0.64 ) (0.67 ) Effective income tax rates 20.57 % 17.04 % 17.48 % The components of Salisbury's net deferred tax assets are as follows: December 31, (in thousands) 2021 2020 Allowance for loan losses $ 3,170 $ 3,355 Interest on non-performing loans 157 214 Accrued deferred compensation 488 517 Post-retirement benefits 11 11 Mark-to-market purchase accounting adjustments 17 — Loss on equity securities 4 — Restricted stock awards 361 196 Deferred loan costs, net — 90 Other 183 98 Gross deferred tax assets 4,391 4,481 Deferred loan fees, net (69 ) — Mark-to-market purchase accounting adjustments — (8 ) Goodwill and core deposit intangible asset (615 ) (590 ) Accelerated depreciation (681 ) (522 ) Gain on equity securities — (2 ) Prepaid expenses (32 ) — Gain on disposal (5 ) — Mortgage servicing rights (169 ) (150 ) Net unrealized holding gains on available-for-sale securities (232 ) (797 ) Gross deferred tax liabilities (1,803 ) (2,069 ) Net deferred tax asset $ 2,588 $ 2,412 Salisbury will only recognize a deferred tax asset when, based upon available evidence, realization is more likely than not. In accordance with Connecticut legislation, in 2004, Salisbury formed a PIC, SBT Mortgage Service Corporation. Salisbury does not expect to pay Connecticut state income tax in the foreseeable future unless there is a change in Connecticut law. Salisbury’s policy is to provide for uncertain tax positions and the related interest and penalties (recorded as a component of income tax expense, if any) based upon management’s assessment of whether a tax benefit is more likely than not to be sustained upon examination by tax authorities. As of December 31, 2021, and 2020, there were no material uncertain tax positions related to federal and state tax matters. Salisbury is currently open to audit under the statute of limitations by the Internal Revenue Service and state taxing authorities for the years ended December 31, 2018 through December 31, 2021.

NOTE 14 _ SHAREHOLDERS_ EQUITY

NOTE 14 – SHAREHOLDERS’ EQUITY	12 Months Ended
	Dec. 31, 2021
Equity [Abstract]
NOTE 14 – SHAREHOLDERS’ EQUITY	NOTE 14 – 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. 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 December 31, 2021, The Bank exceeded the minimum requirement for the capital conservation buffer. As of December 31, 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. The Bank’s risk-weighted assets at December 31, 2021 and December 31, 2020 were $ 1,085.4 938.0 Actual Minimum Capital Required For Capital Adequacy Minimum Capital Required For Capital Adequacy Plus Required Capital Conservation Buffer Minimum To Be Well Capitalized Under (dollars in thousands) Amount Ratio Amount Ratio Amount Ratio Amount Ratio December 31, 2021 Total Capital (to risk-weighted assets) $ 152,789 14.08 % $ 86,832 8.0 % $ 113,968 10.5 % $ 108,541 10.0 % Tier 1 Capital (to risk-weighted assets) 139,681 12.87 65,124 6.0 92,259 8.5 86,832 8.0 Common Equity Tier 1 Capital (to risk-weighted assets) 139,681 12.87 48,843 4.5 75,978 7.0 70,551 6.5 Tier 1 Capital (to average assets) 139,681 9.42 59,285 4.0 59,285 4.0 74,106 5.0 Actual Minimum Capital Required For Capital Adequacy Minimum Capital Required For Capital Adequacy Plus Required Capital Conservation Buffer Minimum To Be Well Capitalized Under (dollars in thousands) Amount Ratio Amount Ratio Amount Ratio Amount Ratio 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 65,657 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 Legal Limitations 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 legal limits on the payment of cash dividends and other payments by banks to their holding companies. Under Connecticut law, a 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 a 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 15 _ OTHER BENEFITS

NOTE 15 – OTHER BENEFITS	12 Months Ended
	Dec. 31, 2021
Retirement Benefits [Abstract]
NOTE 15 – OTHER BENEFITS	NOTE 15 – OTHER BENEFITS 401(k) Plan Salisbury offers a 401(k) Plan to eligible employees. Under the 401(k) Plan, eligible participants may contribute a percentage of their pay subject to IRS limitations. Salisbury may make discretionary contributions to the Plan. The Plan 1.1 0.9 0.9 Employee Stock Ownership Plan (ESOP) Salisbury offers an ESOP to eligible employees. Under the Plan, Salisbury may make discretionary contributions to the Plan. Discretionary contributions vest in full upon six years and reflect the following schedule of qualified service: 20% after the second year, 20% per year thereafter, vesting at 100% after six full years of service. 265 263 285 Other Retirement Plans Split-Dollar Life Insurance Salisbury adopted ASC 715-60, “Compensation - Retirement Benefits - Defined Benefit Plans - Other Postretirement" and recognized a liability for Salisbury’s future postretirement benefit obligations under endorsement split-dollar life insurance arrangements. The total liability for the arrangements included in other liabilities was $ 779 771 328 101 227 8 7 During the 2021 calendar year, the Named Executive Officers (“NEO”) Messrs. Cantele, Albero and Davies and certain other senior executives were parties to split dollar life insurance agreements with the Bank, which upon the executive’s death, splits the death benefit payable under one or more insurance policies between the executive’s beneficiary and the Bank. During the annual review of this benefit with our consultant, BCC-USA, it was determined that there is a current, and future, inequity with the value of life insurance payable to NEO beneficiaries. The cap has not changed since the initial insurance was purchased although base salaries have increased over the past 18 years. The Compensation Committee recommended, and the Board of Directors approved, a new NEO category with an increase in the cap of this group to $800,000 to mitigate the current benefit shortfall. The average multiple of base salary for the remaining BOLI group is 2.83 times. By increasing the NEO cap to $800,000, the average multiple of base salary for the NEO group increases to 2.65 times. The split dollar life insurance agreement provides the beneficiary designated by such NEO with a pre-retirement death benefit of three (3) times annual base salary, not to exceed $750,000. If the NEO remains in the employ of Salisbury until age 65, the executive’s beneficiary is also entitled to a post-retirement death benefit under the agreement. Post-retirement death benefits for Mr. Cantele are 1.5 times his final base salary up to a maximum of $800,000. Post-retirement death benefits for Mr. Albero and Mr. Davies include a reduced multiple of final annual base salary between 1.5 times and 0.5 times, depending on the former executive’s age at the time of death with a maximum death benefit of $800,000. The NEOs entered into new agreements reflecting these terms on September 1, 2021. Supplemental Retirement Agreement The Bank assumed a Supplemental Retirement Plan Agreement with a former Chief Executive Officer of Riverside Bank that provides for supplemental post retirement payments for a fifteen-year period ending in 2025 as described in the agreement. The related liability was $ 263 312 Non-Qualified Deferred Compensation Plan 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 who 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. In 2021, 2020, and 2019, the Bank awarded seven (7), seven (7), and six (6) Executives, respectively, with discretionary contributions to the plan. Expenses related to this plan amounted to $ 114 135 114 On December 27, 2021, the Board of Directors of Salisbury Bank and Trust Company executed the Salisbury Bank and Trust Company Amended and Restated Non-Qualified Deferred Compensation Plan (the “Plan”), effective as of January 1, 2022. The Plan permits the Board to select certain key employees of the Bank to participate in the Plan, provided that such employees also evidence their participation by execution of a Participation Agreement. Before amendment and restatement, the Plan provided solely for discretionary bank contributions to selected participant’s accounts. The participation agreement sets forth the vesting terms of the discretionary contributions and the “benefit age” at which a participant could retire with a fully vested benefit. The participation agreement also sets forth how a participant’s benefit would be distributed (i.e., in a lump sum or in annual installments over a period of up to 10 years, as selected by the participant). Until distribution, a participant’s account would earn interest as of the last day of the plan year at the highest certificate of deposit rate for that year, compounded annually. The participant’s benefits under the Plan are subject to the vesting schedule set forth in the participant’s participation agreement. Notwithstanding the vesting schedule, the participant’s account balance will become automatically 100% vested upon involuntary termination without cause, death, disability or a change in control. The amended and restated Plan also allows participant deferrals and provides greater flexibility in participant elections and investment options. In addition to employer discretionary contributions, participants will be entitled to defer up to 50% of their base salary and up to 100% of their discretionary bonuses and cash incentive compensation, however, such base salary deferrals and bonus and cash incentive deferrals will not commence before January 1, 2023. The Plan will permit the Compensation Committee to add non-employee directors as participants. If implemented, non-employee directors will be entitled to make elective deferrals of up to 50% of their annual retainer and committee fees. This provision may not be implemented for plan year 2022. For plan years commencing after December 31, 2021, a participant will be required to enter into a “Participation Agreement” on initial participation that will set forth, among other things, the vesting schedule for any discretionary contributions received and the participant’s benefit age (i.e. the eligible “retirement age”). A participant will also be required to enter into an “Annual Election Form” which will set forth (i) the participant’s distribution elections under various circumstances and (ii) commencing in 2023, the amount of a participant’s elective deferrals of base salary and/or discretionary bonus or incentive compensation. Under the Amended and Restated Plan, each discretionary contribution would vest based on a rolling five-year vesting schedule, so that in the sixth year of participation the first year’s contribution would be 100% vested and the fifth-year contribution would be 20% vested. Vesting of discretionary contributions generally accelerates when a participant reaches benefit age, however, the Bank can delegate one or more discretionary contributions for a particular person as contributions for which vesting would not automatically accelerate. The amended and restated Plan provides additional distribution options, including distributions in the event of an unforeseeable emergency and on the occurrence of a specified date before separation from service, and allows a participant to elect for each year’s contributions the manner in which such distributions will be paid. Installment distributions can be made in monthly, quarterly or annual installments. Payment of benefits under the Plan, other than benefits payable as a result of base salary deferrals, are conditioned on the participant’s covenant to comply with non-compete, non-solicitation and non-disclosure provisions for a period of one year following the participant’s separation from service. The Bank will establish a grantor trust to hold the assets of the Plan. Until distributed, the assets of the Plan are not legally owned by the participants. 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 ten 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 16 - LONG TERM INCENTIVE P

NOTE 16 - LONG TERM INCENTIVE PLANS	12 Months Ended
	Dec. 31, 2021
Retirement Benefits [Abstract]
NOTE 16 - LONG TERM INCENTIVE PLANS	NOTE 16 - LONG TERM INCENTIVE PLANS The Board of Directors adopted the 2011 Long Term Incentive Plan (the “Plan”) on March 25, 2011, and the shareholders approved the Plan at the 2011 Annual Meeting. The Plan was amended on January 18, 2013, January 29, 2016 and again on April 28, 2017. The purpose of the Plan is to assist Salisbury and the Bank in attracting, motivating, retaining and rewarding employees, officers and directors by enabling such persons to acquire or increase a proprietary interest in Salisbury in order to strengthen the mutuality of interests between such persons and our shareholders, and providing such persons with stock-based long-term performance incentives to expend their maximum efforts in the creation of shareholder value. The terms of the Plan provide for grants of Directors Stock Retainer Awards, Stock Options, Stock Appreciation Rights (“SARs”), Restricted Stock, Restricted Stock Units, Performance Awards, Deferred Stock, Dividend Equivalents, and Stock or Other Stock-Based Awards that may be settled in shares of common stock, cash, or other property (collectively, “Awards”). Under the Plan, the total number of shares of Common Stock reserved and available for issuance in the ten years following adoption of the Plan in connection with Awards under the Plan is 84,000 30,000 42,000 15,000 340 The Board of Directors adopted the 2017 Long Term Incentive Plan (the “2017 LTIP”) on February 24, 2017, which was approved by shareholders at the 2017 Annual Meeting on May 17, 2017. Pursuant to the 2017 LTIP, as of May 2017, following shareholder approval of the 2017 LTIP, no further awards will be made under the 2011 LTIP, which shall remain in existence solely for purposes of administering outstanding grants. Under the 2017 LTIP, the total number of shares of Common Stock reserved and available for issuance in the next ten years in connection with awards under the 2017 LTIP is 200,000 200,000 150,000 Restricted stock In 2021, 2020 and 2019 Salisbury granted a total of 16,650 15,475 15,130 750 554 601 The following table presents the amount of cumulatively granted restricted stock awards under the 2011 and 2017 Long-Term Incentive Plans: Weighted Average Weighted Average Year Ended December 31, 2021 Grant Price 2020 Grant Price Beginning of Year 40,125 $ 39.44 39,626 $ 41.04 Granted 16,650 45.06 15,475 35.82 Vested (12,370 ) 43.45 (13,776 ) 39.71 Forfeited 0 0.00 (1,200 ) 41.25 End of Year 44,405 $ 40.43 40,125 $ 39.44 The fair value of the restricted shares that vested during 2021, 2020 and 2019 were $ 538 464 556 599 525 491 925 774 795 108 95 88 Additionally, in 2018 the Compensation Committee granted a total of 53,500 0 141 414 Performance-based restricted stock units On March 29, 2019, the Compensation Committee granted 6,800 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. 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 $ 354 264 280 331 221 70 The following table presents the amount of cumulatively granted performance based restricted stock units awarded under the 2017 Long-Term Incentive Plans: Weighted Average Weighted Average Year Ended December 31, 2021 Grant Price 2020 Grant Price Beginning of Year 13,700 $ 38.64 6,800 $ 41.20 Granted 7,400 47.79 7,250 36.36 Vested 0 0 0 0 Forfeited 0 0 (350 ) 41.20 End of Year 21,100 $ 41.85 13,700 $ 38.64 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 $ 1,166 941 888

NOTE 17 _ STOCK OPTIONS

NOTE 17 – STOCK OPTIONS	12 Months Ended
	Dec. 31, 2021
Equity [Abstract]
NOTE 17 – STOCK OPTIONS	NOTE 17 – STOCK OPTIONS Salisbury issued stock options in conjunction with its acquisition of Riverside Bank in 2014. The table below reflects the remaining outstanding options related to this transaction and presents a summary of the status of Salisbury's outstanding stock options: Number of options Weighted average exercise price Weighted average remaining contractual term (in years) Aggregate intrinsic value Beginning of period 14,715 $ 17.04 Granted — — Exercised (1,755 ) 17.04 Forfeited or expired — — End of period 12,960 $ 17.04 2.00 $ 491,443 Number of options Weighted average exercise price Weighted average remaining contractual term (in years) Aggregate intrinsic value Beginning of period 17,820 $ 17.04 Granted — — Exercised (3,105 ) 17.04 Forfeited or expired — — End of period 14,715 $ 17.04 3.00 $ 297,684 All options are vested and exercisable at December 31, 2021. The total intrinsic value is the amount by which the fair value of the underlying stock exceeds the exercise price of an option on the exercise date. The total intrinsic value of stock options exercised during the years ended December 31, 2021, 2020 and 2019 was $ 37 78 125

NOTE 18 - RELATED PARTY TRANSAC

NOTE 18 - RELATED PARTY TRANSACTIONS	12 Months Ended
	Dec. 31, 2021
Related Party Transactions [Abstract]
NOTE 18 - RELATED PARTY TRANSACTIONS	NOTE 18 - RELATED PARTY TRANSACTIONS In the normal course of business, the Bank has granted loans to executive officers, directors, principal shareholders and associates of the foregoing persons considered to be related parties. Changes in loans to executive officers, directors and their related associates are as follows (there are no loans to principal shareholders): Years ended December 31, (in thousands) 2021 2020 Balance, beginning of period $ 9,417 $ 10,655 Advances 2,067 2,407 Repayments (2,438 ) (3,645 ) Balance, end of period $ 9,046 $ 9,417

NOTE 19 _ OTHER COMPREHENSIVE (

NOTE 19 – OTHER COMPREHENSIVE (LOSS) INCOME	12 Months Ended
	Dec. 31, 2021
Equity [Abstract]
NOTE 19 – OTHER COMPREHENSIVE (LOSS) INCOME	NOTE 19 – OTHER COMPREHENSIVE (LOSS) INCOME The following table presents a reconciliation of the changes in the components of other comprehensive (loss) income for the dates indicated, including the amount of income tax benefit (expense) allocated to each component of other comprehensive (loss) income: Years ended December 31, (in thousands) 2021 2020 2019 Other comprehensive (loss) income Net unrealized (losses) gains on securities available-for-sale $ (2,701 ) $ 2,280 $ 2,258 Reclassification of net realized losses (gains) in net income (1) 2 (196 ) (263 ) Unrealized (losses) gains on securities available-for-sale (2,699 ) 2,084 1,995 Income tax benefit (expense) 565 (437 ) (418 ) Unrealized (losses) gains on securities available-for-sale, net of tax (2,134 ) 1,647 1,577 Other comprehensive (loss) income $ (2,134 ) $ 1,647 $ 1,577 (1) 0 41 55 The components of accumulated other comprehensive income are as follows: December 31, (dollars in thousands) 2021 2020 Unrealized gains on securities available-for-sale, net of tax $ 870 $ 3,004 Accumulated other comprehensive income $ 870 $ 3,004

NOTE 20 _ DERIVATIVES AND HEDGI

NOTE 20 – DERIVATIVES AND HEDGING ACTIVITIES	12 Months Ended
	Dec. 31, 2021
Derivative Instruments and Hedging Activities Disclosure [Abstract]
NOTE 20 – DERIVATIVES AND HEDGING ACTIVITIES	NOTE 20 – 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 December 31, 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) December 31, 2021 December 31, 2020 December 31, 2021 December 31, 2020 Loans receivable (1) $ 9,982 $ 9,996 $ (18 ) $ (4 ) Total $ 9,982 $ 9,996 $ (18 ) $ (4 ) (1) 37.8 18 10.0 The table below presents the fair value of Salisbury’s derivative financial instrument and its classification on the Balance Sheet as of December 31, 2021 and 2020. As of December 31, 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 $ 18 Other Assets $ 4 Total Derivatives designated as hedge instruments $ 18 $ 4 The tables below present the effect of the Company’s derivative financial instruments on the Income Statement as of December 31, 2021 and 2020. Twelve months ended December 31, 2021 Twelve months ended December 31, 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 $ 3 $ — $ 1 $ — Gain or (loss) on fair value hedging relationships in Subtopic 815-20 Interest contracts Hedged items (14 ) — (4 ) — Derivatives designated as hedging instruments $ 17 $ — $ 5 $ — Credit-Risk Related Contingent Features Salisbury has an agreement with its derivative counterparty that contains a provision where 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 / adequately 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 December 31, 2021, the fair value of the derivative was $18 thousand in a net asset position, which includes accrued interest but excludes any adjustment for nonperformance risk, related to these agreements. As of December 31, 2021, Salisbury has not posted any collateral related to these agreements.

NOTE 21 - COMMITMENTS AND CONTI

NOTE 21 - COMMITMENTS AND CONTINGENT LIABILITIES	12 Months Ended
	Dec. 31, 2021
Commitments and Contingencies Disclosure [Abstract]
NOTE 21 - COMMITMENTS AND CONTINGENT LIABILITIES	NOTE 21 - COMMITMENTS AND CONTINGENT LIABILITIES Commitments The Bank’s agreement with the core accounting processing service provider will continue until the eighth anniversary of the commencement date, which was November 10, 2016. If the Bank cancels the agreement prior to the end of the contract term, a lump sum termination fee will have to be paid. The fee shall consist of the total amount that would have been paid or reimbursed to the service provider during the remainder of the term of the agreement. Contingent Liabilities The Bank is involved in various claims and legal proceedings, which are not material, arising in the ordinary course of business. There are no material pending legal proceedings, other than ordinary routine litigation incidental to the registrant’s business, to which Salisbury is a party or to which any of its property is subject.

NOTE 22 - FINANCIAL INSTRUMENTS

NOTE 22 - FINANCIAL INSTRUMENTS	12 Months Ended
	Dec. 31, 2021
Investments, All Other Investments [Abstract]
NOTE 22 - FINANCIAL INSTRUMENTS	NOTE 22 - FINANCIAL INSTRUMENTS The Bank, in the normal course of business and to meet the financing needs of its customers, is a party to financial instruments with off-balance sheet risk. These financial instruments include commitments to originate loans, letters of credit, and unadvanced funds on loans. The instruments involve, to varying degrees, elements of credit risk in excess of the amount recognized in the balance sheets. The contract amounts of those instruments reflect the extent of involvement the Bank has in particular classes of financial instruments. The Bank's exposure to credit loss in the event of nonperformance by the other party to the financial instrument for loan commitments and standby letters of credit is represented by the contractual amounts of those instruments. The Bank uses the same credit policies in making commitments and conditional obligations as it does for on-balance sheet instruments. Commitments to originate loans are agreements to lend to a customer provided there are no violations of any conditions established in the contract. Commitments generally have fixed expiration dates or other termination clauses and may require payment of a fee. Since many of the commitments may expire without being drawn upon, the total commitment amounts do not necessarily represent future cash requirements. The Bank evaluates each customer's creditworthiness on a case-by-case basis. The amount of collateral obtained, if deemed necessary by the Bank upon extension of credit, is based on management's credit evaluation of the borrower. Collateral held varies, but may include secured interests in mortgages, accounts receivable, inventory, property, plant and equipment and income producing properties. Standby letters of credit are conditional commitments issued by the Bank to guarantee the performance by a customer to a third party. The credit risk involved in issuing letters of credit is essentially the same as that involved in extending loan facilities to customers. As of December 31, 2021 and 2020, the maximum potential amount of the Bank’s obligation was $ 2.8 4.8 Financial instruments with off-balance sheet credit risk are as follows: December 31, (dollars in thousands) 2021 2020 Residential $ 16,288 $ 11,661 Home equity lines of credit 31,490 28,919 Commercial 41,544 10,103 Land 839 566 Real estate secured 90,161 51,249 Commercial and industrial 112,262 94,854 Municipal 541 1,804 Consumer 4,349 2,077 Unadvanced portions of loans 207,313 149,984 Commitments to originate loans 43,689 49,753 Letters of credit 2,835 4,758 Total $ 253,837 $ 204,495 The allowance for off balance sheet commitments is calculated by applying a reserve percentage discounted by a utilization factor to the sum of unguaranteed unused lines of credit and loan contracts that the Bank has committed to but not funded as of year-end. The allowance for off-balance sheet commitments was $146 thousand and $118 thousand as of December 31, 2021 and December 31, 2020, respectively.

NOTE 23 - FAIR VALUE MEASUREMEN

NOTE 23 - FAIR VALUE MEASUREMENTS	12 Months Ended
	Dec. 31, 2021
Fair Value Disclosures [Abstract]
NOTE 23 - FAIR VALUE MEASUREMENTS	NOTE 23 - FAIR VALUE MEASUREMENTS 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 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 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. 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. Level 1 may also include U.S. Treasury, other U.S. Government and agency mortgage-backed securities that are traded by dealers or brokers in active markets. 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. Currently, Salisbury uses an interest rate swap to manage its interest rate risk. 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. To comply with the provisions of ASC 820, Salisbury incorporates credit valuation adjustments to appropriately reflect both its own nonperformance risk and the respective counterparty’s nonperformance risk in the fair value measurements. In adjusting the fair value of its derivative contracts for the effect of nonperformance risk, the Bank has considered the impact of netting and any applicable credit enhancements, such as collateral postings, thresholds, mutual puts, and guarantees. 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. A financial instrument’s level within the fair value hierarchy is based on the lowest level of input that is significant to the fair value measurement. Salisbury did not have any significant transfers of assets between levels 1 and 2 of the fair value hierarchy during the twelve-month period ended December 31, 2021. 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 are as follows: Fair Value Measurements Using Assets at (in thousands) Level 1 Level 2 Level 3 fair value December 31, 2021 Assets at fair value on a recurring basis U.S. Treasury $ — $ 15,131 $ — $ 15,131 U.S. Government Agency notes — 31,604 — 31,604 Municipal bonds — 47,822 — 47,822 Mortgage-backed securities: U.S. Government agencies and U.S. Government-sponsored enterprises — 74,541 — 74,541 Collateralized mortgage obligations: U.S. Government agencies — 20,898 — 20,898 Corporate bonds — 12,400 — 12,400 Securities available-for-sale $ — $ 202,396 $ — $ 202,396 CRA mutual fund 901 — — 901 Derivative financial instruments — 18 — 18 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 Carrying values and estimated fair values of financial instruments are as follows: Carrying Estimated Fair value measurements using (In thousands) value fair value Level 1 Level 2 Level 3 December 31, 2021 Financial Assets Cash and cash equivalents $ 175,335 $ 175,335 $ 175,335 $ — $ — Interest bearing time deposits with financial institutions 750 750 750 — — Securities available-for-sale 202,396 202,396 — 202,396 — CRA mutual fund 901 901 901 — — Federal Home Loan Bank of Boston stock 1,397 1,397 — 1,397 — Loans held-for-sale 2,684 2,721 — — 2,721 Loans receivable, net 1,066,750 1,066,733 — — 1,066,733 Accrued interest receivable 6,260 6,260 — 6,260 — Cash surrender value of life insurance policies 27,738 27,738 — 27,738 — Derivative financial instruments 18 18 — 18 — Financial Liabilities Demand (non-interest-bearing) $ 416,073 $ 416,073 $ — $ 416,073 $ — Demand (interest-bearing) 233,600 233,600 — 233,600 — Money market 330,436 330,436 — 330,436 — Savings and other 237,075 237,075 — 237,075 — Certificates of deposit 119,009 119,716 — 119,716 — Deposits 1,336,193 1,336,900 — 1,336,900 — Repurchase agreements 11,430 11,430 — 11,430 — FHLBB advances 7,656 7,714 — 7,714 — Subordinated debt 24,474 24,409 — 24,409 — Note payable 170 171 — 171 — Finance lease liability 4,107 4,223 — — 4,223 Accrued interest payable 49 49 — 49 — 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 1,057,606 — — 1,057,606 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. In 2021, Salisbury issued new subordinated debt and 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 24 _ SALISBURY BANCORP, IN

NOTE 24 – SALISBURY BANCORP, INC. (PARENT ONLY) CONDENSED FINANCIAL INFORMATION	12 Months Ended
	Dec. 31, 2021
Condensed Financial Information Disclosure [Abstract]
NOTE 24 – SALISBURY BANCORP, INC. (PARENT ONLY) CONDENSED FINANCIAL INFORMATION	NOTE 24 – SALISBURY BANCORP, INC. (PARENT ONLY) CONDENSED FINANCIAL INFORMATION The unconsolidated balance sheets and statements of income and cash flows of Salisbury Bancorp, Inc. are presented as follows: Balance Sheets 2021 2020 Assets Cash and due from banks $ 6,412 $ 1,968 Investment in bank subsidiary 154,292 132,407 Other assets 386 273 Total Assets $ 161,090 $ 134,648 Liabilities and Shareholders' Equity Subordinated debt $ 24,474 $ 9,883 Other liabilities 16 13 Shareholders' equity 136,600 124,752 Total Liabilities and Shareholders' Equity $ 161,090 $ 134,648 Statements of Income 2021 2020 2019 Dividends from subsidiary $ 3,994 $ 3,787 $ 3,546 Interest income 11 6 10 Interest expense 1,000 618 624 Non-interest expenses 574 495 417 Income before taxes and equity in undistributed net income of subsidiary 2,431 2,680 2,515 Income tax benefit 386 273 252 Income before equity in undistributed net income of subsidiary 2,817 2,953 2,767 Equity in undistributed net income of subsidiary 13,656 8,987 8,369 Net income $ 16,473 $ 11,940 $ 11,136 Statements of Cash Flows 2021 2020 2019 Net income $ 16,473 $ 11,940 $ 11,136 Adjustments to reconcile net income to net cash provided by operating activities: Equity in undistributed net income of subsidiary (13,656 ) (8,987 ) (8,369 ) Other 63 (25 ) 474 Net cash provided by operating activities 2,880 2,928 3,241 Investing Activities Investment in bank (9,433 ) — — Net cash utilized by investing activities (9,433 ) — — Financing activities Issuance of subordinated debt, net of issuance cost 24,418 — — Payoff of subordinated debt (10,000 ) — — Common stock dividends paid (3,452 ) (3,286 ) (3,155 ) Proceeds from issuance of common stock 31 53 82 Net cash provided (utilized) by financing activities 10,997 (3,233 ) (3,073 ) Net increase (decrease) in cash and cash equivalents 4,444 (305 ) 168 Cash and cash equivalents, beginning of period 1,968 2,273 2,105 Cash and cash equivalents, end of period $ 6,412 $ 1,968 $ 2,273

NOTE 25 _ EARNINGS PER SHARE

NOTE 25 – EARNINGS PER SHARE	12 Months Ended
	Dec. 31, 2021
Earnings Per Share [Abstract]
NOTE 25 – EARNINGS PER SHARE	NOTE 25 – EARNINGS PER SHARE The calculation of earnings per share is as follows: Years ended December 31, (in thousands, except per share amounts) 2021 2020 2019 Net income applicable to common shareholders $ 16,473 $ 11,940 $ 11,136 Less: Undistributed earnings allocated to participating securities (248 ) (165 ) (160 ) Net income allocated to common shareholders $ 16,225 $ 11,775 $ 10,976 Weighted average common shares issued 2,855 2,837 2,817 Less: Unvested restricted stock awards (43 ) (39 ) (35 ) Weighted average common shares outstanding used to calculate basic earnings per common share 2,812 2,798 2,782 Add: Dilutive effect of performance based restricted stock awards and stock options 24 8 12 Weighted average common shares outstanding used to calculate diluted earnings per common share 2,836 2,806 2,794 Earnings per common share (basic) $ 5.77 $ 4.21 $ 3.95 Earnings per common share (diluted) $ 5.72 $ 4.20 $ 3.93

NOTE 26 _ SUBSEQUENT EVENTS

NOTE 26 – SUBSEQUENT EVENTS	12 Months Ended
	Dec. 31, 2021
Subsequent Events [Abstract]
NOTE 26 – SUBSEQUENT EVENTS	NOTE 26 – SUBSEQUENT EVENTS Salisbury has evaluated subsequent events for potential recognition and/or disclosure through the date these consolidated financial statements were issued. In January 2022, Salisbury completed the sale of the building housing its retail branch in Poughkeepsie, New York. The branch was relocated to leased space nearby and Salisbury recorded a pre-tax loss of approximately $ 144 The Board of Directors of Salisbury approved a $ 0.01 0.32 On February 28, 2022, the Compensation Committee of the Board of Directors approved grants of performance-based restricted stock units (“RSUs”) to named executive officers (“NEOs”) and other key employees under the Company’s 2017 Long Term Incentive Plan. The Compensation Committee granted a total of 6,950 On February 28, 2022, Salisbury granted a total of 14,350 813 On March 1, 2022, Salisbury issued a press release that the Board has approved and will recommend to shareholders an amendment to Salisbury’s Certificate of Incorporation to increase Salisbury’s authorized shares of Common Stock from 5,000,000 to 10,000,000 shares, subject to shareholder approval (the “Certificate of Amendment Proposal”). Additionally, the Board approved, subject to shareholder approval of the Certificate of Amendment Proposal, a two for one forward split of the shares of the Company’s Common Stock as a means of enhancing the liquidity and marketability of the Company’s securities in the best interests of shareholders.

NOTE 1 - SUMMARY OF SIGNIFICA_2

NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	12 Months Ended
	Dec. 31, 2021
Accounting Policies [Abstract]
Principles of Consolidation	Principles of Consolidation The consolidated financial statements include those of Salisbury and the Bank after elimination of all inter-company accounts and transactions.
Basis of Financial Statement Presentation	Basis of Financial Statement Presentation The consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America and general practices within the financial services industry. In preparing the consolidated 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 consolidated 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 and potential impairment of goodwill and intangibles. Certain reclassifications have been made to the 2020 and 2019 consolidated financial statements to make them consistent with the 2021 presentation.
Cash and Cash Equivalents	Cash and Cash Equivalents Cash and cash equivalents include cash and balances due from banks and interest-bearing demand deposits in other banks. Due to the nature of cash and cash equivalents, Salisbury estimated that the carrying amount of such instruments approximated fair value. The nature of the Bank’s business requires that it maintain amounts due from banks which, at times, may exceed federally insured limits. The Bank has not experienced any losses on such amounts and all amounts are maintained with well-capitalized institutions.
Interest Bearing Time Deposits with Financial Institutions	Interest Bearing Time Deposits with Financial Institutions Interest bearing time deposits are balances held in CD’s in a CDARS program. Due to the nature of time deposits, Salisbury estimated that the carrying amount of such instruments are at par.
Securities	Securities Securities that may be sold as part of Salisbury's asset/liability or liquidity management or in response to or in anticipation of changes in interest rates and resulting prepayment risk, or for other similar factors, are classified as available-for-sale and carried at their fair value. Unrealized holding gains and losses on such securities are reported net of related taxes, if applicable, as a separate component of shareholders' equity. Securities that Salisbury has the ability and positive intent to hold to maturity are classified as held-to-maturity and carried at amortized cost. Realized gains and losses on the sales of all securities are reported in earnings and computed using the specific identification cost basis. Securities are reviewed regularly for other-than-temporary impairment (“OTTI”). Premiums and discounts are amortized or accreted utilizing the interest method over the life or call of the term of the investment security. For any debt security with a fair value less than its amortized cost basis, Salisbury will determine whether it has the intent to sell the debt security or whether it is more likely than not it will be required to sell the debt security before the recovery of its amortized cost basis. If either condition is met, Salisbury will recognize a full impairment charge to earnings. For all other debt securities that are considered OTTI and do not meet either condition, the credit loss portion of impairment will be recognized in earnings as realized losses.
Mutual Funds	Mutual Funds The Company holds a mutual fund investment which is reported as an equity investment with a readily determined fair value. Changes in the fair value of the mutual fund holding are reported in income as gains (losses) on CRA mutual fund with a corresponding increase or decrease in its carrying value on the consolidated balance sheet.
Federal Home Loan Bank of Boston Stock	Federal Home Loan Bank of Boston Stock The Bank is a member of the Federal Home Loan Bank of Boston (“FHLBB”). The 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 December 31, 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.
Loans	Loans Loans receivable consist of loans that management has the intent and ability to hold for the foreseeable future or until maturity or pay-off. Loans receivable are reported at their outstanding principal balance, net of unamortized deferred loan origination fees and costs on originated loans and unamortized premiums on purchased loans. Interest income is accrued on the unpaid principal balance. Deferred loan origination fees and costs are amortized as an adjustment to yield over the lives of the related loans. Loans receivable includes loans processed under the SBA’s PPP program. The PPP loans are reported at their outstanding principal balance, net of unamortized deferred loan origination fees and costs on originated loans. Interest income is accrued on the unpaid principal balance. Deferred loan origination fees and costs are amortized as an adjustment to yield over the lives of the related loans. The Bank’s loans collateralized by real estate and all other real estate owned (“OREO”) are located principally in northwestern Connecticut and New York and Massachusetts towns, which constitute Salisbury's service area. Accordingly, the collectability of a substantial portion of the loan portfolio and OREO is susceptible to changes in market conditions in Salisbury’s service area. While management uses available information to recognize losses on loans and OREO, future additions to the allowance or write-downs of OREO may be necessary based on changes in local economic conditions, particularly in Salisbury’s service area. Loans held-for-sale consist of residential mortgage loans that management has the intent to sell. Loans held-for-sale are valued at the lower of cost or market as determined by outstanding commitments from investors or current investor yield requirements calculated on the aggregate loan basis, net of deferred loan origination fees and costs. Changes in the carrying value, deferred loan origination fees and costs, and realized gains and losses on sales of loans held-for-sale are reported in earnings as gains and losses on sales of mortgage loans, net, when the proceeds are received from investors. The accrual of interest on loans, including troubled debt restructured loans, is generally discontinued when principal or interest is past due by 90 days or more, or earlier when, in the opinion of management, full collection of principal or interest is unlikely, except for loans that are well collateralized, in the process of collection and where full collection of principal and interest is assured. When a loan is placed on non-accrual status, interest previously accrued but not collected is reversed against current income. Income on such loans, including impaired loans, is then recognized only to the extent that cash is received and future collection of principal is probable. Loans, including troubled debt restructured loans, are restored to accrual status when principal and interest payments are brought current and future payments are reasonably assured, following a sustained period of repayment performance by the borrower in accordance with the loan's contractual terms. Troubled debt restructured loans include those for which concessions such as reduction of interest rates, other than normal market rate adjustments, or deferral of principal or interest payments, extension of maturity dates, or reduction of principal balance or accrued interest, have been granted due to a borrower’s financial condition. The decision to restructure a loan, versus aggressively enforcing the collection of the loan, may benefit Salisbury by increasing the ultimate probability of collection. Troubled debt restructured loans are classified as accruing or non-accruing based on management’s assessment of the collectability of the loan. Loans which are already on non-accrual status at the time of the troubled debt restructuring generally remain on non-accrual status for approximately six months before management considers such loans for return to accruing status. Accruing troubled debt restructured loans are generally placed into non-accrual status if and when the borrower fails to comply with the restructured terms. On March 22, 2020, the federal banking agencies issued an “Interagency Statement on Loan Modifications and Reporting for Financial Institutions Working with Customers Affected by the Coronavirus”. and implemented a loan payment deferral program which allows residential, commercial and consumer borrowers, who have been adversely affected by the virus and whose loans were not more than 30 days past due at December 31, 2019, to defer loan payments for up to three months. As of December 31, 2021, Salisbury was not deferring payments on any commercial, residential or consumer loans.
Allowance for Loan Losses	Allowance for Loan Losses The allowance for loan losses represents management’s estimate of the probable credit losses inherent in the loan portfolio as of the reporting date. The allowance is increased by provisions charged to earnings and by recoveries of amounts previously charged off, and is reduced by loan charge-offs. Loan charge-offs are recognized when management determines a loan or portion of a loan to be uncollectible. The determination of the adequacy of the allowance is based on management’s ongoing review of numerous factors, including the growth and composition of the loan portfolio, historical loss experience over an economic cycle, probable credit losses based upon internal and external portfolio reviews, credit risk concentrations, changes in lending policy, current economic conditions, analysis of current levels and asset quality, delinquency levels and trends, estimates of the current value of underlying collateral, the performance of individual loans in relation to contract terms, and other pertinent factors. Determining the adequacy of the allowance and reserves at any given period is difficult, particularly during deteriorating or uncertain economic periods, and management must make estimates using assumptions and information that are often subjective and changing rapidly. The review of credit exposure related to loans is a continuing event in light of the pandemic, a changing economy and the dynamics of the banking and regulatory environment. Should the economic climate deteriorate, borrowers could experience difficulty and the level of non-performing loans, charge-offs and delinquencies could rise, requiring increased provisions and reserves. Changes in the estimate are recorded in the results of operations in the period in which they become known, along with provisions for estimated losses incurred during that period. In management's judgment, Salisbury remains adequately reserved both against total loans and non-performing loans at December 31, 2021. Management’s loan risk rating assignments, loss percentages and specific reserves are subjected annually to an independent credit review by an external firm. In addition, the Bank is examined annually on a rotational basis by one of its two primary regulatory agencies, the FDIC and Connecticut Department of Banking (CTDOB). As an integral part of their examination process, the FDIC and CTDOB review the adequacy and methodology of the Bank's credit risk ratings and allowance for loan losses. The allowance for loan losses is computed by segregating the portfolio into three components: (1) loans collectively evaluated for impairment: general loss allocation factors for non-impaired loans based on loan product, collateral type and abundance, loan risk rating, historical loss experience, delinquency factors and other similar economic indicators, (2) loans individually evaluated for impairment: individual loss allocations for loans deemed to be impaired based on discounted cash flows or collateral value, and (3) unallocated: general loss allocations for other environmental factors. Loans collectively evaluated for impairment The component of the allowance for loan losses for loans collectively evaluated for impairment is estimated by stratifying loans into segments and credit risk ratings and then applying management’s general loss allocation factors. Salisbury stratified its loans into the following loan segments: residential real estate secured (residential 1-4 family and 5+ multifamily, construction of residential 1-4 family, and home equity lines of credit), commercial real estate secured (commercial and construction of commercial), secured by land (farm and vacant land), commercial and industrial, municipal and consumer. The general loss allocation factors are based on expected loss experience adjusted for historical loss experience and other qualitative factors, including levels or trends in delinquencies; trends in volume and terms of loans; effects of changes in risk selection and underwriting standards and other changes in lending policies, procedures and practices; experience/ability/depth of lending management and staff; and national and local economic trends and conditions. The qualitative factors are determined based on the various risk characteristics of each loan segment and are risk-weighted such that higher risk loans generally have a higher reserve percentage. In second quarter 2020, management added a new discrete loan pool for loans deemed to be a higher risk due to COVID-19. This new loan pool included commercial real estate and commercial and industrial loans that were deemed by management to be a higher risk of default as a result of the pandemic as well as residential and consumer loans which have been granted a second loan payment deferral by management. In addition, management increased the risk weights for loans with an internal risk rating of “4” (Watch), “5” (Special Mention) and “6” (Substandard”) to reflect the higher degree of inherent credit risk associated with these loans as a result of COVID-19. Management reduced these risk weights back to their pre-COVID-19 levels in first quarter 2021 because the pre-COVID risk weights currently reflect the inherent risk of loss within these risk ratings, and management began to receive more timely and transparent information to determine if a downgrade in a loan rating was deemed necessary as the economy transitioned beyond COVID-19. In second quarter 2021, approximately $56 million of loans were moved out of the discrete COVID-19 pool, which carries higher loan loss reserve rates, and back to their pre-pandemic pool and in fourth quarter 2021, all remaining loans in the COVID-19 pool were moved back to their pre-pandemic pool. These loans were deemed by management to be a lower risk of default because the level of business activity and liquidity of these businesses substantially returned to pre-pandemic levels and the borrowers were current on loan payments. The qualitative factors are determined based on the various risk characteristics of each loan segment. Risk characteristics relevant to each portfolio segment are as follows: Residential real estate Commercial real estate Construction loans Commercial and industrial loans Farm Vacant land Municipal loans Consumer loans Loans individually evaluated for impairment This component relates to loans that are classified as impaired. Impairment is measured on a loan by loan basis for all portfolio loans (except consumer loans and homogeneous residential real estate loans) by either the present value of expected future cash flows discounted at the loan’s effective interest rate, the fair value of the collateral if the loan is collateral dependent or third-party market loan pricing. An allowance is established when the discounted cash flows (or collateral value) of the impaired loan are lower than the carrying value of that loan. A loan is considered impaired when, based on current information and events, it is probable that Salisbury will be unable to collect the scheduled payments of principal or interest when due according to the contractual terms of the loan agreement. Factors considered by management in determining impairment include payment status, collateral value, and the probability of collecting scheduled principal and interest payments when due. Loans that experience insignificant payment delays and payment shortfalls generally are not classified as impaired. Management determines the significance of payment delays and payment shortfalls on a case-by-case basis, taking into consideration all of the circumstances surrounding the loan and the borrower, including the length of the delay, the reasons for the delay, the borrower’s prior payment record, and the amount of the shortfall in relation to the principal and interest owed. In seeking to protect the best interests of the Bank, Salisbury may agree to modify the contractual terms of loans. When a loan is modified and a concession is made to a borrower experiencing financial difficulty, the modification is considered a troubled debt restructuring ("TDR"). All TDRs are classified as impaired. Unallocated An unallocated component is maintained to cover uncertainties that could affect management’s estimate of probable losses. The unallocated component of the allowance reflects the margin of imprecision inherent in the underlying assumptions used in the methodologies for estimating allocated and general reserves in the portfolio.
Transfers of Financial Assets	Transfers of Financial Assets Transfers of an entire financial asset, a group of entire financial assets, or participating interest in an entire financial asset are accounted for as sales when control over the assets has been surrendered. Control over transferred assets is deemed to be surrendered when (1) the assets have been isolated from the Company, (2) the transferee obtains the right to pledge or exchange the transferred assets, and (3) the Company does not retain control over the assets. During the normal course of business, the Company may transfer a portion of a financial asset, for example, a participation loan or the government guaranteed portion of a loan. In order to be eligible for sales treatment, the transfer of the portion of the loan must meet the criteria of a participating interest. If it does not meet the criteria of a participating interest, the transfer must be accounted for as a secured borrowing. In order to meet the criteria for a participating interest, all cash flows from the loan must be divided proportionately, the rights of each loan holder must have the same priority, the loan holders must have no recourse to the transferor other than standard representations and warranties and no loan holder has the right to pledge or exchange the entire loan.
Mortgage Servicing Rights	Mortgage Servicing Rights As part of our growth and risk management strategy, Salisbury from time to sells whole loans. typically residential loans. Salisbury’s ability to sell whole loans benefits the Bank by freeing up capital and funding to lend to new customers. Additionally, we typically earn a gain on the sale of loans sold and receive a servicing fee while maintaining the customer relationship. Mortgage (“MSRs”), which the bank evaluates with the assistance of a third party on a quarterly basis, are included on the consolidated balance and are accounted for under the amortization method. that method mortgage servicing rights are amortized in proportion to, and over the period of, estimated net servicing revenues. Refinance activities are considered in estimating the period of net servicing revenues.
Other Real Estate Owned (“OREO”)	Other Real Estate Owned (“OREO”) OREO consists of properties acquired through foreclosure or a deed in lieu of foreclosure. These properties are initially transferred at fair value less estimated costs to sell. Any write-down from cost to estimated fair value required at the time of foreclosure is charged to the allowance for loan losses. A valuation allowance is maintained for declines in market value and for estimated selling expenses. Increases to the valuation allowance, expenses associated with ownership of these properties, and gains and losses from their sale are included in OREO expense. As of December 31, 2021, and 2020, the recorded investment in residential mortgage loans collateralized by residential real estate that were in the process of foreclosure was $ 0.0 0.1
Income Taxes	Income Taxes Deferred income taxes are provided for differences arising in the timing of income and expenses for financial reporting and for income tax purposes using the asset/liability method of accounting for income taxes. Deferred income taxes and tax benefits are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. Salisbury provides deferred taxes for the estimated future tax effects attributable to temporary differences and carry-forwards when realization is assured beyond a reasonable doubt. A valuation allowance is established against deferred tax assets when, based upon all available evidence, it is determined that it is more likely than not that some or all of the deferred tax assets will not be realized.
Bank Premises and Equipment	Bank Premises and Equipment Bank premises, furniture and equipment are carried at cost, less accumulated depreciation and amortization computed on the straight-line method over the estimated useful lives of the assets. Leasehold improvements are amortized on the straight-line basis over the shorter of the estimated useful lives of the improvements or the term of the related leases. Guidelines for expected useful life are as follows: • Buildings/Improvements – 39 years • Land Improvements – 15 years • Furniture and Fixtures – 7 years • Computer Equipment – 5 years • Software – 3 years
Intangible Assets	Intangible Assets Intangible assets consist of core deposit intangibles and goodwill. Intangible assets equal the excess of the purchase price over the fair value of the tangible net assets acquired in business combinations accounted for using the acquisition method of accounting. Salisbury’s intangible assets at December 31, 2021, and 2020, include goodwill of $ 2.4 7.2 319 2.7 1.3 On an annual basis, management assesses intangible assets for impairment. For fiscal year 2019, this assessment was performed as of December 31, 2019. For fiscal years 2021 and 2020, however, management performed the assessment as of November 30 th
Derivative Instruments and Hedging Activities	Derivative Instruments and Hedging Activities As required by ASC 815, the Company records all derivatives on the balance sheet at fair value. The accounting for changes in the fair value of derivatives depends on the intended use of the derivative, whether the Company has elected to designate a derivative in a hedging relationship and apply hedge accounting and whether the hedging relationship has satisfied the criteria necessary to apply hedge accounting. Derivatives designated and qualifying as a hedge of the exposure to changes in the fair value of an asset, liability, or firm commitment attributable to a particular risk, such as interest rate risk, are considered fair value hedges. Derivatives designated and qualifying as a hedge of the exposure to variability in expected future cash flows, or other types of forecasted transactions, are considered cash flow hedges. Derivatives may also be designated as hedges of the foreign currency exposure of a net investment in a foreign operation. Hedge accounting generally provides for the matching of the timing of gain or loss recognition on the hedging instrument with the recognition of the changes in the fair value of the hedged asset or liability that are attributable to the hedged risk in a fair value hedge or the earnings effect of the hedged forecasted transactions in a cash flow hedge. The Company may enter into derivative contracts that are intended to economically hedge certain of its risk, even though hedge accounting does not apply or the Company elects not to apply hedge accounting. In accordance with the FASB’s fair value measurement guidance in Topic 825, the Company made an accounting policy election to measure the credit risk of its derivative financial instruments that are subject to master netting agreements on a net basis by counterparty portfolio.
Bank-Owned Life Insurance	Bank-Owned Life Insurance Bank-owned life insurance policies are reflected on the consolidated balance sheet at cash surrender value. Changes in the net cash surrender value of the policies, as well as insurance proceeds received, are reflected in non-interest income on the consolidated statements of income and are generally not subject to income taxes. The Bank reviews the financial strength of the insurance carriers prior to the purchase of life insurance policies and no less than annually thereafter. A life insurance policy with any individual carrier is limited to 15% of tier one capital and the total cash surrender value of the life insurance policies is limited to 25% of tier one capital.
Stock Based Compensation	Stock Based Compensation Stock based compensation expense is recognized, based on the fair value at the date of grant on a straight-line basis over the period of time between the grant date and vesting date. The expense for performance based restricted stock awards is accrued over a three year performance period based on the probability of achieving pre-determined thresholds or metrics.
Advertising Expense	Advertising Expense Advertising costs of $ 704 393
Statements of Cash Flows	Statements of Cash Flows For the purpose of the Consolidated Statements of Cash Flows, cash and cash equivalents include cash and due from banks and interest-bearing demand deposits with other financial institutions.
Computation of Earnings per Share	Computation of Earnings per Share The Company 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. Unvested performance based restricted stock units issued by the Company do not contain non-forfeitable rights to dividends and are not deemed to be participating securities. 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.
Revenue Recognition	Revenue Recognition A significant portion of Salisbury’s revenue, including interest income from loans and investments, falls outside the scope of ASC 606. Revenue from Salisbury’s Trust and Wealth Advisory business, service charges and fees and interchange fees, however, are within the scope of ASC 606. Revenue for these in-scope services are recognized when, or as, obligations under the terms of a contract are satisfied, which occurs when the services are transferred to customers. Revenue is measured as the amount of consideration Salisbury expects to receive in exchange for providing the services to a customer (“transaction price”). To the extent the transaction price includes variable consideration, Salisbury estimates the amount of variable consideration that should be included in the transaction price utilizing the most likely amount to which Salisbury expects to be entitled. Variable consideration is included in the transaction price if, in Salisbury’s judgment, it is probable that a significant future reversal of cumulative revenue under the contract will not occur. Estimates of variable consideration and determination of whether to include estimated amounts in the transaction price are based largely on an assessment of Salisbury’s anticipated performance and all information (historical, current, and forecasted) that is reasonably available. Sales, value add, and other taxes collected on behalf of third parties are excluded from revenue. Contracts with customers may contain multiple performance obligations. For such arrangements, the transaction price is allocated to each performance obligation based on the estimated relative standalone selling prices of the promised services underlying each performance obligation. Salisbury determines standalone selling prices based on the price at which the performance obligation is sold separately. If the standalone selling price is not observable through fee schedules provided to its customers or through past transactions, Salisbury estimates the standalone selling price taking into account available information such as market conditions and internally approved pricing guidelines related to the performance obligations. Contracts are often modified to account for changes in contract specifications and requirements. Contract modifications exist when the modification either creates new or changes the existing enforceable rights and obligations. Generally, contract modifications are for products or services that are distinct from the existing contract and are accounted for as if they were a new and separate contract. The original contract is still accounted for according to its original terms. Trust and Wealth Advisory The Trust and Wealth Advisory business generates revenue through a range of fiduciary services including trust and estate administration, wealth advisory, and investment management to individuals, families, businesses and institutions. Revenue from these services is generally recognized over time and are typically based on the market value of assets under administration and established fee schedules. Certain fees, such as real estate sale fees, asset liquidation fees, special asset fees, and daily money management fees, are recorded as revenue at a point in time at the completion of the service. Service Charges and Fees Salisbury offers a variety of deposit accounts with a range of interest rates and other terms, which are designed to meet customer financial needs. Monthly deposit account fees and account research fees are recognized over time using the right to invoice measure of progress. Overdraft protection, ATM services, cash management, bill pay, money transfers, among others, are generally recognized at point in time at the completion of the service. Interchange Fees Salisbury earns interchange fee revenue through customers’ use of the Bank’s debit cards. Interchange fees are generally recognized as revenue at a point in time when customers make a purchase using their debit card.
Recent Accounting Pronouncements	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 Corporation 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. The Bank is currently refining various ACL assumptions and running parallel calculations on a monthly basis. Salisbury estimates that under the CECL framework, the ACL would be $12.7 million compared with the allowance for loan losses of $13.0 million reported on the consolidated balance sheet at December 31, 2021. In addition, Salisbury estimates that the ACL for unfunded commitments would be approximately $0.9 million compared with the allowance of $0.1 million recorded on its consolidated balance sheet as of December 31, 2021. Salisbury will continue to refine its ACL methodology prior to implementation of CECL on January 1, 2023. In addition, the estimated ACL and allowance for unfunded commitments under both the Incurred Loss method and CECL will be affected by various factors, which include but are not limited to, changes in the composition and balance of Salisbury’s loan portfolio and unfunded commitments, changes to internal risk ratings of borrowers, changes to the risk-profile of the loan portfolio, changes in various macro-economic indicators, the impact of COVID-19 on the business environment, and other factors. Based on the credit quality of our 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. 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. The transition from LIBOR is not expected to have a material impact on Salisbury’s Consolidated Financial Statements.

NOTE 2 - SECURITIES (Tables)

NOTE 2 - SECURITIES (Tables)	12 Months Ended
	Dec. 31, 2021
Investments, Debt and Equity Securities [Abstract]
Marketable Securities [Table Text Block]	(in thousands) Amortized Gross un- realized gains Gross un- realized losses Fair value December 31, 2021 Available-for-sale U.S. Treasury $ 15,301 $ 12 $ 182 $ 15,131 U.S. Government Agency notes 31,623 237 256 31,604 Municipal bonds 46,469 1,557 204 47,822 Mortgage-backed securities: U.S. Government agencies and U.S. Government- sponsored enterprises 74,703 643 805 74,541 Collateralized mortgage obligations: U.S. Government agencies 20,948 135 185 20,898 Corporate bonds 12,250 158 8 12,400 Total securities available-for-sale $ 201,294 $ 2,742 $ 1,640 $ 202,396 CRA mutual fund $ 901 Non-marketable securities Federal Home Loan Bank of Boston stock $ 1,397 $ — $ — $ 1,397 (in thousands) Amortized 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
Schedule of Realized Gain (Loss) [Table Text Block]	Years ended December 31, (in thousands) 2021 2020 2019 Proceeds $ 3,311 $ 15,589 $ 41,814 Gains realized 56 293 371 Losses realized (65 ) (97 ) (108 ) Net (losses) gains realized (9 ) 196 263 Income tax (benefit) provision (2 ) 41 55
Schedule of Unrealized Loss on Investments [Table Text Block]	Less than 12 Months 12 Months or Longer Total December 31, 2021 (in thousands) Fair Unrealized losses Fair Unrealized losses Fair Unrealized losses Available-for-sale U.S. Treasury $ 12,155 $ 182 $ — $ — $ 12,155 $ 182 U.S. Government Agency notes 22,137 235 2,019 21 24,156 256 Municipal bonds 12,496 204 552 — 13,048 204 Mortgage- backed securities: U.S. Government agencies and U.S. Government - sponsored enterprises 52,619 740 3,195 65 55,814 805 Collateralized mortgage obligations 11,554 185 — — 11,554 185 Corporate bonds 1,742 8 — — 1,742 8 Total temporarily impaired securities $ 112,703 $ 1,554 $ 5,766 $ 86 $ 118,469 $ 1,640 Less than 12 Months 12 Months or Longer Total December 31, 2020 (in thousands) Fair Unrealized losses Fair Unrealized losses Fair 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
Schedule of Available-for-sale Securities Reconciliation [Table Text Block]	December 31, 2021 (in thousands) Maturity Amortized cost Fair value Yield (1) U.S. Treasury After 1 year but within 5 years $ 1,984 $ 1,986 1.16 % After 5 year but within 10 years 13,317 13,145 1.17 Total 15,301 15,131 1.17 U.S. Government Agency notes After 5 year but within 10 years 15,905 15,694 1.23 Total 15,905 15,694 1.23 Municipal bonds After 5 year but within 10 years 6,575 6,789 2.39 After 10 years but within 15 years 18,997 19,456 2.47 After 15 years 20,897 21,577 2.66 Total 46,469 47,822 2.54 Mortgage-backed securities and Collateralized mortgage obligations Securities not due at a single maturity date 111,369 111,348 1.71 Total 111,369 111,348 1.71 Corporate bonds After 5 years but within 10 years 11,750 11,900 4.39 After 10 years but within 15 years 500 500 3.75 Total 12,250 12,400 4.36 Securities available-for-sale $ 201,294 $ 202,396 2.05 % (1) Yield is based on amortized cost.

NOTE 3 - LOANS (Tables)

NOTE 3 - LOANS (Tables)	12 Months Ended
	Dec. 31, 2021
Receivables [Abstract]
Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block]	December 31, 2021 2020 (in thousands) Total Loans Total Loans Residential 1-4 family $ 373,131 $ 352,001 Residential 5+ multifamily 52,325 37,058 Construction of residential 1-4 family 19,738 8,814 Home equity lines of credit 23,270 27,804 Residential real estate 468,464 425,677 Commercial 310,923 310,841 Construction of commercial 58,838 31,722 Commercial real estate 369,761 342,563 Farm land 2,807 3,198 Vacant land 14,182 14,079 Real estate secured 855,214 785,517 Commercial and industrial ex PPP Loans 169,543 140,516 PPP Loans 25,589 86,632 Total Commercial and industrial 195,132 227,148 Municipal 16,534 21,512 Consumer 12,547 7,687 Loans receivable, gross 1,079,427 1,041,864 Deferred loan origination costs (fees), net 285 (372 ) Allowance for loan losses (12,962 ) (13,754 ) Loans receivable, net $ 1,066,750 $ 1,027,738 Loans held-for-sale Residential 1-4 family $ 2,684 $ 2,735
Financing Receivable Credit Quality Indicators [Table Text Block]	(in thousands) Pass Special mention Substandard Doubtful Loss Total December 31, 2021 Residential 1-4 family $ 367,225 $ 3,543 $ 2,363 $ — $ — $ 373,131 Residential 5+ multifamily 50,588 79 1,658 — — 52,325 Construction of residential 1-4 family 19,738 — — — — 19,738 Home equity lines of credit 23,037 212 21 — — 23,270 Residential real estate 460,588 3,834 4,042 — — 468,464 Commercial 271,821 16,034 23,068 — — 310,923 Construction of commercial 58,838 — — — — 58,838 Commercial real estate 330,659 16,034 23,068 — — 369,761 Farm land 1,162 1,214 431 — — 2,807 Vacant land 14,143 39 — — — 14,182 Real estate secured 806,552 21,121 27,541 — — 855,214 Commercial and industrial 191,857 688 2,587 — — 195,132 Municipal 16,534 — — — — 16,534 Consumer 12,547 — — — — 12,547 Loans receivable, gross $ 1,027,490 $ 21,809 $ 30,128 $ — $ — $ 1,079,427 (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
Financing Receivable, Nonaccrual [Table Text Block]	Past due (In thousands) Current 30-59 days 60-89 days 90-179 days 180 days and over 30 days and over Accruing 90 days and over Non- accrual December 31, 2021 Residential 1-4 family $ 372,620 $ 223 $ 135 $ 63 $ 90 $ 511 $ — $ 750 Residential 5+ multifamily 51,464 — — — 861 861 — 861 Construction of residential 1-4 family 19,668 — 70 — — 70 — — Home equity lines of credit 23,000 165 98 — 7 270 — 21 Residential real estate 466,752 388 303 63 958 1,712 — 1,632 Commercial 310,331 87 251 — 254 592 — 1,924 Construction of commercial 58,838 — — — — — — — Commercial real estate 369,169 87 251 — 254 592 — 1,924 Farm land 2,807 — — — — — — 432 Vacant land 14,182 — — — — — — — Real estate secured 852,910 475 554 63 1,212 2,304 — 3,988 Commercial and industrial 194,838 250 32 1 11 294 11 200 Municipal 16,534 — — — — — — — Consumer 12,503 40 4 — — 44 — — Loans receivable, gross $ 1,076,785 $ 765 $ 590 $ 64 $ 1,223 $ 2,642 $ 11 $ 4,188 Past due (In thousands) Current 30-59 days 60-89 days 90-179 days 180 days and over 30 days and over Accruing 90 days and over Non- 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
Financing Receivable, Troubled Debt Restructuring [Table Text Block]	Business Activities Loans December 31, 2021 December 31, 2020 (in thousands) Quantity Pre-modification balance Post-modification balance Quantity Pre-modification balance Post-modification balance Residential real estate 1 $ 74 $ 74 1 $ 180 $ 180 Commercial real estate — — — 1 133 133 Consumer — — — — — — Troubled debt restructurings 1 $ 74 $ 74 2 $ 313 $ 313 Interest only payments to sell property — $ — $ — — $ — $ — Rate reduction — — — — — — Modification and Rate reduction — — — — — — Extension of new funds to pay outstanding taxes — — — — — — Modification and term extension 1 74 74 2 313 313 Troubled debt restructurings 1 $ 74 $ 74 2 $ 313 $ 313
Summary of Troubled Debt Restructuring Note, Debtor [Table Text Block]	Modifications that Subsequently Defaulted For the twelve months ending December 31, 2021 For the twelve months ending December 31, 2020 Quantity Balance Quantity Balance Troubled Debt Restructurings Residential 1-4 family 1 74 1 178 Commercial real estate — — — — Total 1 74 1 178
Impaired Financing Receivables [Table Text Block]	December 31, (in thousands) 2021 2020 Non-accrual loans, excluding troubled debt restructured loans $ 2,838 $ 4,091 Non-accrual troubled debt restructured loans 1,350 1,546 Accruing troubled debt restructured loans 3,609 6,272 Total impaired loans $ 7,797 $ 11,909 Commitments to lend additional amounts to impaired borrowers $ — $ —
Financing Receivable, Allowance for Credit Loss [Table Text Block]	Year Ended December 31, 2021 Year Ended December 31, 2020 (in thousands) Beginning balance Provision (release) Charge- offs Reco- veries Ending balance Beginning balance Provision (release) Charge- offs Reco- veries Ending balance Residential 1-4 family $ 2,646 $ 225 $ (44 ) $ 19 $ 2,846 $ 2,393 $ 255 $ (11 ) $ 9 $ 2,646 Residential 5+ multifamily 686 131 — — 817 446 282 (42 ) — 686 Construction of residential 1-4 family 65 121 — — 186 75 (10 ) — — 65 Home equity lines of credit 252 (34 ) (21 ) 1 198 197 (197 ) — 252 252 Residential real estate 3,649 443 (65 ) 20 4,047 3,111 330 (53 ) 261 3,649 Commercial 6,546 (1,260 ) (6 ) 136 5,416 3,742 2,776 (17 ) 45 6,546 Construction of commercial 596 447 (18 ) — 1,025 104 492 — — 596 Commercial real estate 7,142 (813 ) (24 ) 136 6,441 3,846 3,268 (17 ) 45 7,142 Farm land 59 (39 ) (2 ) 3 21 47 12 — — 59 Vacant land 180 (86 ) — 1 95 71 109 — — 180 Real estate secured 11,030 (495 ) (91 ) 160 10,604 7,075 3,719 (70 ) 306 11,030 Commercial and industrial 1,397 45 (131 ) 53 1,364 1,145 612 (362 ) 2 1,397 Municipal 43 (12 ) — — 31 46 (3 ) — — 43 Consumer 77 68 (59 ) (4 ) 82 60 72 (70 ) 15 77 Unallocated 1,207 (326 ) — — 881 569 638 — — 1,207 Totals $ 13,754 $ (720 ) $ (281 ) $ 209 $ 12,962 $ 8,895 $ 5,038 $ (502 ) $ 323 $ 13,754 December 31, 2019 (in thousands) Beginning balance Acquisition Discount Transfer Provision (release) Charge- offs Reco- veries Ending balance Residential 1-4 family $ 2,149 $ 10 $ 367 $ (136 ) $ 3 $ 2,393 Residential 5+ multifamily 413 — 33 — — 446 Construction of residential 1-4 family 83 — (8 ) — — 75 Home equity lines of credit 219 1 258 (281 ) — 197 Residential real estate 2,864 11 650 (417 ) 3 3,111 Commercial 3,048 488 248 (44 ) 2 3,742 Construction of commercial 122 — (18 ) — — 104 Commercial real estate 3,170 488 230 (44 ) 2 3,846 Farm land 33 — 14 — — 47 Vacant land 100 — (29 ) — — 71 Real estate secured 6,167 499 865 (461 ) 5 7,075 Commercial and industrial 1,158 164 (78 ) (145 ) 46 1,145 Municipal 12 — 34 — — 46 Consumer 56 — 3 (36 ) 37 60 Unallocated 438 — 131 — — 569 Totals $ 7,831 $ 663 $ 955 $ (642 ) $ 88 $ 8,895
[custom:CompositionOfLoansReceivableAndAllowanceForLoanLossesTableTextBlock]	(in thousands) Collectively evaluated Individually evaluated Total portfolio Loans Allowance Loans Allowance Loans Allowance December 31, 2021 Residential 1-4 family $ 370,558 $ 2,845 $ 2,573 $ 1 $ 373,131 $ 2,846 Residential 5+ multifamily 51,376 817 949 — 52,325 817 Construction of residential 1-4 family 19,738 186 — — 19,738 186 Home equity lines of credit 23,249 198 21 — 23,270 198 Residential real estate 464,921 4,046 3,543 1 468,464 4,047 Commercial 307,377 5,388 3,546 28 310,923 5,416 Construction of commercial 58,838 1,025 — — 58,838 1,025 Commercial real estate 366,215 6,413 3,546 28 369,761 6,441 Farm land 2,375 21 432 — 2,807 21 Vacant land 14,182 95 — — 14,182 95 Real estate secured 847,693 10,575 7,521 29 855,214 10,604 Commercial and industrial 194,856 1,297 276 67 195,132 1,364 Municipal 16,534 31 — — 16,534 31 Consumer 12,547 82 — — 12,547 82 Unallocated allowance — 881 — — — 881 Totals $ 1,071,630 $ 12,866 $ 7,797 $ 96 $ 1,079,427 $ 12,962 (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
Financing Receivable, Noncurrent, Allowance for Credit Loss [Table Text Block]	December 31, 2021 (in thousands) Collectively evaluated Individually evaluated Total portfolio Loans Allowance Loans Allowance Loans Allowance Performing loans $ 1,046,614 $ 10,456 $ — $ — $ 1,046,614 $ 10,456 Potential problem loans 1 25,016 1,529 — — 25,016 1,529 Impaired loans — — 7,797 96 7,797 96 Unallocated allowance — 881 — — — 881 Totals $ 1,071,630 $ 12,866 $ 7,797 $ 96 $ 1,079,427 $ 12,962 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
Schedule of Valuation Allowance for Impairment of Recognized Servicing Assets [Table Text Block]	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, 2021 Residential $ 43 $ 44 $ 872 $ 1 $ 3 $ 3,480 $ 3,817 $ 3,689 $ 75 Home equity lines of credit — — 17 — — 21 23 131 — Residential real estate 43 44 889 1 3 3,501 3,840 3,820 75 Commercial 608 608 1,678 28 32 2,938 3,493 2,974 62 Construction of commercial — — — — — — — — — Farm land — — — — — 431 447 440 — Vacant land — — 56 — — — — 45 — Real estate secured 651 652 2,623 29 35 6,870 7,780 7,279 137 Commercial and industrial 216 224 309 67 3 60 72 90 — Consumer — — 6 — — — — 13 — Totals $ 867 $ 876 $ 2,938 $ 96 $ 38 $ 6,930 $ 7,852 $ 7,382 $ 137 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)	12 Months Ended
	Dec. 31, 2021
Note 4 Leases
Finance Lease, Liability, Fiscal Year Maturity [Table Text Block]	($ in thousands) Classification December 31, 2021 December 31, 2020 Assets Operating Other assets $ 1,021 $ 1,182 Finance Bank premises and equipment 1 3,791 1,402 Total Leased Assets $ 4,812 $ 2,584 Liabilities Operating Accrued interest and other liabilities $ 1,021 $ 1,182 Finance Finance lease obligations 4,107 1,673 Total lease liabilities $ 5,128 $ 2,855 1 Net of accumulated depreciation of $ 496 396 Lease cost ($ in thousands) Classification Twelve months ended Twelve months ended December 31, 2021 December 31, 2020 Operating leases Premises and equipment $ 295 $ 261 Finance leases: Amortization of leased assets Premises and equipment 101 101 Interest on finance leases Interest expense 136 141 Total lease cost $ 532 $ 503 Weighted Average Remaining Lease Term December 31, 2021 December 31, 2020 Operating leases 6.9 years 7.6 years Financing leases 23.5 years 14.2 years Weighted Average Discount Rate 1 Operating leases 3.61 % 3.67 % Financing leases 4.97 % 8.37 % 1 Salisbury uses the most appropriate FHLBB Advance rates as the discount rate, as its leases do not provide an implicit rate.
Schedule of Future Minimum Lease Payments for Capital Leases [Table Text Block]	Future minimum lease payments (in thousands) Finance Leases Operating Leases 2022 $ 293 $ 227 2023 296 167 2024 300 129 2025 305 136 2026 310 136 Thereafter 4,899 381 Total future minimum lease payments 6,403 1,176 Less amount representing interest (2,296 ) (155 ) Total present value of net future minimum lease payments $ 4,107 $ 1,021

NOTE 6 - MORTGAGE SERVICING R_2

NOTE 6 - MORTGAGE SERVICING RIGHTS (Tables)	12 Months Ended
	Dec. 31, 2021
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Abstract]
Schedule of Participating Mortgage Loans [Table Text Block]	December 31, (in thousands) 2021 2020 Residential mortgage loans serviced for others $ 140,623 $ 134,428 Fair value of mortgage servicing rights 1,043 762
Servicing Liability at Amortized Cost [Table Text Block]	Years ended December 31, (in thousands) 2021 2020 2019 Mortgage Servicing Rights Balance, beginning of period $ 621 $ 238 $ 228 Originated 314 534 61 Amortization (1) (235 ) (151 ) (51 ) Balance, end of period 700 621 238 Valuation Allowance Balance, beginning of period (9 ) — — Decrease (increase) in impairment reserve (1) 9 (9 ) — Balance, end of period — (9 ) — Mortgage servicing rights, net $ 700 $ 612 $ 238 (1) Amortization expense and changes in the impairment reserve are recorded in mortgage banking activities, net.

NOTE 7 - PLEDGED ASSETS (Tables

NOTE 7 - PLEDGED ASSETS (Tables)	12 Months Ended
	Dec. 31, 2021
Guarantees and Product Warranties [Abstract]
Schedule of Guarantor Obligations [Table Text Block]	December 31, (in thousands) 2021 2020 Securities available-for-sale (at fair value) $ 75,737 $ 54,581 Loans receivable (at book value) 378,845 420,415 Total pledged assets $ 454,582 $ 474,996

NOTE 8 - BANK PREMISES AND EQ_2

NOTE 8 - BANK PREMISES AND EQUIPMENT (Tables)	12 Months Ended
	Dec. 31, 2021
Property, Plant and Equipment [Abstract]
Property, Plant and Equipment [Table Text Block]	December 31, (in thousands) 2021 2020 Land $ 3,277 $ 2,762 Buildings and improvements 18,246 14,886 Leasehold improvements 1,553 1,553 Finance leases 4,288 1,798 Furniture, fixtures, equipment and software 10,623 9,687 Fixed assets in process 347 4,839 Total cost 38,334 35,525 Accumulated depreciation and amortization (15,709 ) (15,170 ) Bank premises and equipment, net $ 22,625 $ 20,355

NOTE 9 - GOODWILL AND INTANGI_2

NOTE 9 - GOODWILL AND INTANGIBLE ASSETS (Tables)	12 Months Ended
	Dec. 31, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Intangible Assets and Goodwill [Table Text Block]	Years ended December 31, (in thousands) 2021 2020 2019 Goodwill (1) Balance, beginning of period $ 13,815 $ 13,815 $ 13,815 Additions — — — Impairment — — — Balance, end of period $ 13,815 $ 13,815 $ 13,815 Core deposit intangibles Cost, beginning of period $ 5,881 $ 5,881 $ 5,881 Additions — — — Cost, end of period 5,881 5,881 5,881 Amortization, beginning of period (5,207 ) (4,886 ) (4,498 ) Amortization (256 ) (321 ) (388 ) Amortization, end of period (5,463 ) (5,207 ) (4,886 ) Core deposit intangibles, net $ 418 $ 674 $ 995 (1) Not subject to amortization.
Finite-lived Intangible Assets Amortization Expense [Table Text Block]	December 31, CDI amortization 2022 192 2023 128 2024 61 2025 25 2026 11 2027 and thereafter 1 Total $ 418

NOTE 10 - DEPOSITS (Tables)

NOTE 10 - DEPOSITS (Tables)	12 Months Ended
	Dec. 31, 2021
Time Deposit Maturities [Table Text Block]	December 31, (in thousands) CD maturities 2022 $ 87,034 2023 15,403 2024 9,690 2025 4,138 2026 2,685 Thereafter 59 Total $ 119,009
Deposit Liabilities, Type [Table Text Block]	December 31, (in thousands) 2021 2020 Within three months $ 8,642 $ 4,045 After three through six months 1,010 17,218 After six through twelve months 4,938 4,851 Over one year 3,286 12,581 Total $ 17,876 $ 38,695

NOTE 11 _ SECURITIES SOLD UND_2

NOTE 11 – SECURITIES SOLD UNDER AGREEMENTS TO REPURCHASE (Tables)	12 Months Ended
	Dec. 31, 2021
Schedule of Repurchase Agreements [Table Text Block]	December 31, (dollars in thousands) 2021 2020 Repurchase agreements, ending balance $ 11,430 $ 7,116 Repurchase agreements, average balance during period 10,679 7,986 Book value of collateral 17,084 12,632 Market value of collateral 17,469 13,196 Weighted average rate during period 0.15 % 0.25 % Weighted average maturity 1 day 1 day

NOTE 12 _ FEDERAL HOME LOAN B_2

NOTE 12 – FEDERAL HOME LOAN BANK OF BOSTON ADVANCES AND OTHER BORROWED FUNDS (Tables)	12 Months Ended
	Dec. 31, 2021
Federal Home Loan Bank, Advances [Table Text Block]	December 31, 2021 December 31, 2020 Years ended December 31, (dollars in thousands) Total (1) Rate (2) Total (1) Rate (2) Overnight $ — — % $ — — % 2021 — — 4,984 1.13 2022 7,656 1.39 7,655 1.38 Total $ 7,656 1.39 % $ 12,639 1.29 % (1) Net of modification costs. (2) Weighted average rate based on scheduled maturity dates.

NOTE 13 _ NET DEFERRED TAX AS_2

NOTE 13 – NET DEFERRED TAX ASSET AND INCOME TAXES (Tables)	12 Months Ended
	Dec. 31, 2021
Income Tax Disclosure [Abstract]
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]	Years ended December 31, (in thousands) 2021 2020 2019 Federal $ 3,340 $ 3,487 $ 2,406 State 538 566 344 Current provision 3,878 4,053 2,750 Federal 327 (1,335 ) (317 ) State 62 (265 ) (74 ) Deferred expense (benefit) 389 (1,600 ) (391 ) Income tax provision $ 4,267 $ 2,453 $ 2,359
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]	Years ended December 31, (in thousands) 2021 2020 2019 Income tax at statutory federal tax rate 21.00 % 21.00 % 21.00 % State tax, net of federal tax benefit 2.30 1.97 1.58 Tax exempt income and dividends received deduction (2.52 ) (3.69 ) (3.82 ) BOLI interest and gain (0.56 ) (1.60 ) (0.61 ) Other 0.35 (0.64 ) (0.67 ) Effective income tax rates 20.57 % 17.04 % 17.48 %
Schedule of Deferred Tax Assets and Liabilities [Table Text Block]	December 31, (in thousands) 2021 2020 Allowance for loan losses $ 3,170 $ 3,355 Interest on non-performing loans 157 214 Accrued deferred compensation 488 517 Post-retirement benefits 11 11 Mark-to-market purchase accounting adjustments 17 — Loss on equity securities 4 — Restricted stock awards 361 196 Deferred loan costs, net — 90 Other 183 98 Gross deferred tax assets 4,391 4,481 Deferred loan fees, net (69 ) — Mark-to-market purchase accounting adjustments — (8 ) Goodwill and core deposit intangible asset (615 ) (590 ) Accelerated depreciation (681 ) (522 ) Gain on equity securities — (2 ) Prepaid expenses (32 ) — Gain on disposal (5 ) — Mortgage servicing rights (169 ) (150 ) Net unrealized holding gains on available-for-sale securities (232 ) (797 ) Gross deferred tax liabilities (1,803 ) (2,069 ) Net deferred tax asset $ 2,588 $ 2,412

NOTE 14 _ SHAREHOLDERS_ EQUITY

NOTE 14 – SHAREHOLDERS’ EQUITY (Tables)	12 Months Ended
	Dec. 31, 2021
Equity [Abstract]
Schedule of Compliance with Regulatory Capital Requirements under Banking Regulations [Table Text Block]	Actual Minimum Capital Required For Capital Adequacy Minimum Capital Required For Capital Adequacy Plus Required Capital Conservation Buffer Minimum To Be Well Capitalized Under (dollars in thousands) Amount Ratio Amount Ratio Amount Ratio Amount Ratio December 31, 2021 Total Capital (to risk-weighted assets) $ 152,789 14.08 % $ 86,832 8.0 % $ 113,968 10.5 % $ 108,541 10.0 % Tier 1 Capital (to risk-weighted assets) 139,681 12.87 65,124 6.0 92,259 8.5 86,832 8.0 Common Equity Tier 1 Capital (to risk-weighted assets) 139,681 12.87 48,843 4.5 75,978 7.0 70,551 6.5 Tier 1 Capital (to average assets) 139,681 9.42 59,285 4.0 59,285 4.0 74,106 5.0 Actual Minimum Capital Required For Capital Adequacy Minimum Capital Required For Capital Adequacy Plus Required Capital Conservation Buffer Minimum To Be Well Capitalized Under (dollars in thousands) Amount Ratio Amount Ratio Amount Ratio Amount Ratio 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 65,657 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 16 - LONG TERM INCENTIVE_2

NOTE 16 - LONG TERM INCENTIVE PLANS (Tables)	12 Months Ended
	Dec. 31, 2021
Retirement Benefits [Abstract]
Schedule of Deferred Compensation Arrangement with Individual, Share-based Payments [Table Text Block]	Weighted Average Weighted Average Year Ended December 31, 2021 Grant Price 2020 Grant Price Beginning of Year 40,125 $ 39.44 39,626 $ 41.04 Granted 16,650 45.06 15,475 35.82 Vested (12,370 ) 43.45 (13,776 ) 39.71 Forfeited 0 0.00 (1,200 ) 41.25 End of Year 44,405 $ 40.43 40,125 $ 39.44
[custom:ScheduleOfDeferredCompensationArrangementWithIndividualShareBasedPayments1TextBlock]	Weighted Average Weighted Average Year Ended December 31, 2021 Grant Price 2020 Grant Price Beginning of Year 13,700 $ 38.64 6,800 $ 41.20 Granted 7,400 47.79 7,250 36.36 Vested 0 0 0 0 Forfeited 0 0 (350 ) 41.20 End of Year 21,100 $ 41.85 13,700 $ 38.64

NOTE 17 _ STOCK OPTIONS (Tables

NOTE 17 – STOCK OPTIONS (Tables)	12 Months Ended
	Dec. 31, 2021
Equity [Abstract]
Share-based Payment Arrangement, Performance Shares, Outstanding Activity [Table Text Block]	Number of options Weighted average exercise price Weighted average remaining contractual term (in years) Aggregate intrinsic value Beginning of period 14,715 $ 17.04 Granted — — Exercised (1,755 ) 17.04 Forfeited or expired — — End of period 12,960 $ 17.04 2.00 $ 491,443 Number of options Weighted average exercise price Weighted average remaining contractual term (in years) Aggregate intrinsic value Beginning of period 17,820 $ 17.04 Granted — — Exercised (3,105 ) 17.04 Forfeited or expired — — End of period 14,715 $ 17.04 3.00 $ 297,684

NOTE 18 - RELATED PARTY TRANS_2

NOTE 18 - RELATED PARTY TRANSACTIONS (Tables)	12 Months Ended
	Dec. 31, 2021
Related Party Transactions [Abstract]
Schedule of Related Party Transactions [Table Text Block]	Years ended December 31, (in thousands) 2021 2020 Balance, beginning of period $ 9,417 $ 10,655 Advances 2,067 2,407 Repayments (2,438 ) (3,645 ) Balance, end of period $ 9,046 $ 9,417

NOTE 19 _ OTHER COMPREHENSIVE_2

NOTE 19 – OTHER COMPREHENSIVE (LOSS) INCOME (Tables)	12 Months Ended
	Dec. 31, 2021
Equity [Abstract]
Comprehensive Income (Loss) [Table Text Block]	Years ended December 31, (in thousands) 2021 2020 2019 Other comprehensive (loss) income Net unrealized (losses) gains on securities available-for-sale $ (2,701 ) $ 2,280 $ 2,258 Reclassification of net realized losses (gains) in net income (1) 2 (196 ) (263 ) Unrealized (losses) gains on securities available-for-sale (2,699 ) 2,084 1,995 Income tax benefit (expense) 565 (437 ) (418 ) Unrealized (losses) gains on securities available-for-sale, net of tax (2,134 ) 1,647 1,577 Other comprehensive (loss) income $ (2,134 ) $ 1,647 $ 1,577 (1) 0 41 55
Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block]	December 31, (dollars in thousands) 2021 2020 Unrealized gains on securities available-for-sale, net of tax $ 870 $ 3,004 Accumulated other comprehensive income $ 870 $ 3,004

NOTE 20 _ DERIVATIVES AND HED_2

NOTE 20 – DERIVATIVES AND HEDGING ACTIVITIES (Tables)	12 Months Ended
	Dec. 31, 2021
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of Net Investment Hedges, Statements of Financial Performance and Financial Position, Location [Table Text Block]	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) December 31, 2021 December 31, 2020 December 31, 2021 December 31, 2020 Loans receivable (1) $ 9,982 $ 9,996 $ (18 ) $ (4 ) Total $ 9,982 $ 9,996 $ (18 ) $ (4 ) (1) 37.8 18 10.0
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value [Table Text Block]	As of December 31, 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 $ 18 Other Assets $ 4 Total Derivatives designated as hedge instruments $ 18 $ 4
Schedule of Derivatives Instruments Statements of Financial Performance and Financial Position, Location [Table Text Block]	Twelve months ended December 31, 2021 Twelve months ended December 31, 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 $ 3 $ — $ 1 $ — Gain or (loss) on fair value hedging relationships in Subtopic 815-20 Interest contracts Hedged items (14 ) — (4 ) — Derivatives designated as hedging instruments $ 17 $ — $ 5 $ —

NOTE 22 - FINANCIAL INSTRUMEN_2

NOTE 22 - FINANCIAL INSTRUMENTS (Tables)	12 Months Ended
	Dec. 31, 2021
Investments, All Other Investments [Abstract]
Schedule of Fair Value, Off-balance Sheet Risks [Table Text Block]	December 31, (dollars in thousands) 2021 2020 Residential $ 16,288 $ 11,661 Home equity lines of credit 31,490 28,919 Commercial 41,544 10,103 Land 839 566 Real estate secured 90,161 51,249 Commercial and industrial 112,262 94,854 Municipal 541 1,804 Consumer 4,349 2,077 Unadvanced portions of loans 207,313 149,984 Commitments to originate loans 43,689 49,753 Letters of credit 2,835 4,758 Total $ 253,837 $ 204,495

NOTE 23 - FAIR VALUE MEASUREM_2

NOTE 23 - FAIR VALUE MEASUREMENTS (Tables)	12 Months Ended
	Dec. 31, 2021
Fair Value Disclosures [Abstract]
Fair Value, Assets Measured on Recurring and Nonrecurring Basis [Table Text Block]	Fair Value Measurements Using Assets at (in thousands) Level 1 Level 2 Level 3 fair value December 31, 2021 Assets at fair value on a recurring basis U.S. Treasury $ — $ 15,131 $ — $ 15,131 U.S. Government Agency notes — 31,604 — 31,604 Municipal bonds — 47,822 — 47,822 Mortgage-backed securities: U.S. Government agencies and U.S. Government-sponsored enterprises — 74,541 — 74,541 Collateralized mortgage obligations: U.S. Government agencies — 20,898 — 20,898 Corporate bonds — 12,400 — 12,400 Securities available-for-sale $ — $ 202,396 $ — $ 202,396 CRA mutual fund 901 — — 901 Derivative financial instruments — 18 — 18 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
Schedule of Carrying Values and Estimated Fair Values of Debt Instruments [Table Text Block]	Carrying Estimated Fair value measurements using (In thousands) value fair value Level 1 Level 2 Level 3 December 31, 2021 Financial Assets Cash and cash equivalents $ 175,335 $ 175,335 $ 175,335 $ — $ — Interest bearing time deposits with financial institutions 750 750 750 — — Securities available-for-sale 202,396 202,396 — 202,396 — CRA mutual fund 901 901 901 — — Federal Home Loan Bank of Boston stock 1,397 1,397 — 1,397 — Loans held-for-sale 2,684 2,721 — — 2,721 Loans receivable, net 1,066,750 1,066,733 — — 1,066,733 Accrued interest receivable 6,260 6,260 — 6,260 — Cash surrender value of life insurance policies 27,738 27,738 — 27,738 — Derivative financial instruments 18 18 — 18 — Financial Liabilities Demand (non-interest-bearing) $ 416,073 $ 416,073 $ — $ 416,073 $ — Demand (interest-bearing) 233,600 233,600 — 233,600 — Money market 330,436 330,436 — 330,436 — Savings and other 237,075 237,075 — 237,075 — Certificates of deposit 119,009 119,716 — 119,716 — Deposits 1,336,193 1,336,900 — 1,336,900 — Repurchase agreements 11,430 11,430 — 11,430 — FHLBB advances 7,656 7,714 — 7,714 — Subordinated debt 24,474 24,409 — 24,409 — Note payable 170 171 — 171 — Finance lease liability 4,107 4,223 — — 4,223 Accrued interest payable 49 49 — 49 — 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 1,057,606 — — 1,057,606 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 —

NOTE 24 _ SALISBURY BANCORP, _2

NOTE 24 – SALISBURY BANCORP, INC. (PARENT ONLY) CONDENSED FINANCIAL INFORMATION (Tables)	12 Months Ended
	Dec. 31, 2021
Condensed Financial Information Disclosure [Abstract]
Condensed Balance Sheet [Table Text Block]	Balance Sheets 2021 2020 Assets Cash and due from banks $ 6,412 $ 1,968 Investment in bank subsidiary 154,292 132,407 Other assets 386 273 Total Assets $ 161,090 $ 134,648 Liabilities and Shareholders' Equity Subordinated debt $ 24,474 $ 9,883 Other liabilities 16 13 Shareholders' equity 136,600 124,752 Total Liabilities and Shareholders' Equity $ 161,090 $ 134,648
Condensed Income Statement [Table Text Block]	Statements of Income 2021 2020 2019 Dividends from subsidiary $ 3,994 $ 3,787 $ 3,546 Interest income 11 6 10 Interest expense 1,000 618 624 Non-interest expenses 574 495 417 Income before taxes and equity in undistributed net income of subsidiary 2,431 2,680 2,515 Income tax benefit 386 273 252 Income before equity in undistributed net income of subsidiary 2,817 2,953 2,767 Equity in undistributed net income of subsidiary 13,656 8,987 8,369 Net income $ 16,473 $ 11,940 $ 11,136
Condensed Cash Flow Statement [Table Text Block]	Statements of Cash Flows 2021 2020 2019 Net income $ 16,473 $ 11,940 $ 11,136 Adjustments to reconcile net income to net cash provided by operating activities: Equity in undistributed net income of subsidiary (13,656 ) (8,987 ) (8,369 ) Other 63 (25 ) 474 Net cash provided by operating activities 2,880 2,928 3,241 Investing Activities Investment in bank (9,433 ) — — Net cash utilized by investing activities (9,433 ) — — Financing activities Issuance of subordinated debt, net of issuance cost 24,418 — — Payoff of subordinated debt (10,000 ) — — Common stock dividends paid (3,452 ) (3,286 ) (3,155 ) Proceeds from issuance of common stock 31 53 82 Net cash provided (utilized) by financing activities 10,997 (3,233 ) (3,073 ) Net increase (decrease) in cash and cash equivalents 4,444 (305 ) 168 Cash and cash equivalents, beginning of period 1,968 2,273 2,105 Cash and cash equivalents, end of period $ 6,412 $ 1,968 $ 2,273

NOTE 25 _ EARNINGS PER SHARE (T

NOTE 25 – EARNINGS PER SHARE (Tables)	12 Months Ended
	Dec. 31, 2021
Earnings Per Share [Abstract]
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]	Years ended December 31, (in thousands, except per share amounts) 2021 2020 2019 Net income applicable to common shareholders $ 16,473 $ 11,940 $ 11,136 Less: Undistributed earnings allocated to participating securities (248 ) (165 ) (160 ) Net income allocated to common shareholders $ 16,225 $ 11,775 $ 10,976 Weighted average common shares issued 2,855 2,837 2,817 Less: Unvested restricted stock awards (43 ) (39 ) (35 ) Weighted average common shares outstanding used to calculate basic earnings per common share 2,812 2,798 2,782 Add: Dilutive effect of performance based restricted stock awards and stock options 24 8 12 Weighted average common shares outstanding used to calculate diluted earnings per common share 2,836 2,806 2,794 Earnings per common share (basic) $ 5.77 $ 4.21 $ 3.95 Earnings per common share (diluted) $ 5.72 $ 4.20 $ 3.93

NOTE 1 - SUMMARY OF SIGNIFICA_3

NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details Narrative) - USD ($)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Property, Plant and Equipment [Line Items]
Other Real Estate, Foreclosed Assets, and Repossessed Assets	$ 0	$ 100,000
Advertising Expense	704,000	393,000
Business Acquisition 1 [Member]
Property, Plant and Equipment [Line Items]
Goodwill from purchase of additional branch office in New York in 2017	2,400,000	2,400,000
Business Acquisition 2 [Member]
Property, Plant and Equipment [Line Items]
Goodwill from purchase of additional branch office in New York in 2017	7,200,000	7,200,000
Business Acquisition 3 [Member]
Property, Plant and Equipment [Line Items]
Goodwill from purchase of additional branch office in New York in 2017	319,000,000	319,000,000
Business Acquisition 4 [Member]
Property, Plant and Equipment [Line Items]
Goodwill from purchase of additional branch office in New York in 2017	2,700,000	2,700,000
Business Acquisition 5 [Member]
Property, Plant and Equipment [Line Items]
Goodwill from purchase of additional branch office in New York in 2017	$ 1,300,000	$ 1,300,000
Building Improvements [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Useful Life	39 years
Land Improvements [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Useful Life	15 years
Furniture and Fixtures [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Useful Life	7 years
Computer Equipment [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Useful Life	5 years
Software and Software Development Costs [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Useful Life	3 years

Composition of securities (Deta

Composition of securities (Details) - USD ($) $ in Thousands	Dec. 31, 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	$ 15,301
U.S. Government Agency notes	31,623	$ 7,735
Municipal bonds	46,469	25,831
U.S. Government agencies and U.S. Government - sponsored enterprises	74,703	35,240
U.S. Government agencies	20,948	17,054
Corporate bonds	12,250	8,750
Total securities available-for-sale	201,294	94,610
Non-marketable securities
Federal Home Loan Bank of Boston stock	1,397	1,713
AOCI, Accumulated Gain (Loss), Debt Securities, Available-for-sale, Parent [Member]
Available-for-sale
U.S. Treasury	12
U.S. Government Agency notes	237	153
Municipal bonds	1,557	1,787
U.S. Government agencies and U.S. Government - sponsored enterprises	643	1,376
U.S. Government agencies	135	400
Corporate bonds	158	166
Total securities available-for-sale	2,742	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	182
U.S. Government Agency notes	256	37
Municipal bonds	204	1
U.S. Government agencies and U.S. Government - sponsored enterprises	805	43
U.S. Government agencies	185
Corporate bonds	8
Total securities available-for-sale	1,640	81
Non-marketable securities
Federal Home Loan Bank of Boston stock
Securities Financing Transaction, Fair Value [Member]
Available-for-sale
U.S. Treasury	15,131
U.S. Government Agency notes	31,604	7,851
Municipal bonds	47,822	27,617
U.S. Government agencies and U.S. Government - sponsored enterprises	74,541	36,573
U.S. Government agencies	20,898	17,454
Corporate bonds	12,400	8,916
Total securities available-for-sale	202,396	98,411
CRA mutual fund	901	917
Non-marketable securities
Federal Home Loan Bank of Boston stock	$ 1,397	$ 1,713

Sales of securities available-f

Sales of securities available-for-sale and gross gains and gross losses realized (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Investments, Debt and Equity Securities [Abstract]
Proceeds	$ 3,311	$ 15,589	$ 41,814
Gains realized	56	293	371
Losses realized	(65)	(97)	(108)
Net (losses) gains realized	(9)	196	263
Income tax (benefit) provision	$ (2)	$ 41	$ 55

Aggregate fair value and gross

Aggregate fair value and gross unrealized loss of securities that have been in a continous unrealized loss position (Details) - USD ($) $ in Thousands	Dec. 31, 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	$ 12,155
U.S. Government Agency notes	22,137	$ 2,553
Municipal bonds	12,496	558
U.S. Government agencies and U.S. Government - sponsored enterprises	52,619	3,761
Collateralized mortgage obligations	11,554
Corporate bonds	1,742
Total temporarily impaired securities	112,703	6,872
Aggregate Fair Value Gross Unrealized Loss Of Securities Less Than 12 Months Unrealized Losses [Member]
Available-for-sale
U.S. Treasury	182
U.S. Government Agency notes	235	36
Municipal bonds	204	1
U.S. Government agencies and U.S. Government - sponsored enterprises	740	42
Collateralized mortgage obligations	185
Corporate bonds	8
Total temporarily impaired securities	1,554	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	2,019	20
Municipal bonds	552
U.S. Government agencies and U.S. Government - sponsored enterprises	3,195	45
Collateralized mortgage obligations
Corporate bonds
Total temporarily impaired securities	5,766	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	21	1
Municipal bonds
U.S. Government agencies and U.S. Government - sponsored enterprises	65	1
Collateralized mortgage obligations
Corporate bonds
Total temporarily impaired securities	86	2
Aggregate Fair Value Gross Unrealized Loss Of Securities Total Fair Value [Member]
Available-for-sale
U.S. Treasury	12,155
U.S. Government Agency notes	24,156	2,573
Municipal bonds	13,048	558
U.S. Government agencies and U.S. Government - sponsored enterprises	55,814	3,806
Collateralized mortgage obligations	11,554
Corporate bonds	1,742
Total temporarily impaired securities	118,469	6,937
Aggregate Fair Value Gross Unrealized Loss Of Securities Total Unrealized Losses [Member]
Available-for-sale
U.S. Treasury	182
U.S. Government Agency notes	256	37
Municipal bonds	204	1
U.S. Government agencies and U.S. Government - sponsored enterprises	805	43
Collateralized mortgage obligations	185
Corporate bonds	8
Total temporarily impaired securities	$ 1,640	$ 81

Amortized cost, fair value and

Amortized cost, fair value and tax equivalent yield of securities, by maturity (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2021USD ($)
U S Treasury [Member]
Summary of Investment Holdings [Line Items]
Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, Amortized Cost	$ 1,984
Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, Fair Value	$ 1,986
Receivable with Imputed Interest, Effective Yield (Interest Rate)	116.00%
U S Treasury 2 [Member]
Summary of Investment Holdings [Line Items]
Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, Amortized Cost	$ 13,317
Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, Fair Value	$ 13,145
Receivable with Imputed Interest, Effective Yield (Interest Rate)	117.00%
U S Treasury Total [Member]
Summary of Investment Holdings [Line Items]
Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, Amortized Cost	$ 15,301
Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, Fair Value	$ 15,131
Receivable with Imputed Interest, Effective Yield (Interest Rate)	117.00%
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	$ 15,905
Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, Fair Value	$ 15,694
Receivable with Imputed Interest, Effective Yield (Interest Rate)	123.00%
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	$ 15,905
Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, Fair Value	$ 15,694
Receivable with Imputed Interest, Effective Yield (Interest Rate)	123.00%
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	$ 6,575
Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, Fair Value	$ 6,789
Receivable with Imputed Interest, Effective Yield (Interest Rate)	239.00%
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	$ 18,997
Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, Fair Value	$ 19,456
Receivable with Imputed Interest, Effective Yield (Interest Rate)	247.00%
U S States And Political Subdivisions 4 [Member]
Summary of Investment Holdings [Line Items]
Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, Amortized Cost	$ 20,897
Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, Fair Value	$ 21,577
Receivable with Imputed Interest, Effective Yield (Interest Rate)	266.00%
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	$ 46,469
Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, Fair Value	$ 47,822
Receivable with Imputed Interest, Effective Yield (Interest Rate)	254.00%
Mortgage Backed Securities Collateralized Mortgage Obligations [Member]
Summary of Investment Holdings [Line Items]
Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, Amortized Cost	$ 111,369
Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, Fair Value	$ 111,348
Receivable with Imputed Interest, Effective Yield (Interest Rate)	171.00%
Mortgage Backed Securities Collateralized Mortgage Obligations Total [Member]
Summary of Investment Holdings [Line Items]
Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, Amortized Cost	$ 111,369
Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, Fair Value	$ 111,348
Receivable with Imputed Interest, Effective Yield (Interest Rate)	171.00%
Corporate Debt Securities 2 [Member]
Summary of Investment Holdings [Line Items]
Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, Amortized Cost	$ 11,750
Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, Fair Value	$ 11,900
Receivable with Imputed Interest, Effective Yield (Interest Rate)	439.00%
Corporate Debt Securities 3 [Member]
Summary of Investment Holdings [Line Items]
Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, Amortized Cost	$ 500
Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, Fair Value	$ 500
Receivable with Imputed Interest, Effective Yield (Interest Rate)	375.00%
Corporate Debt Securities Total [Member]
Summary of Investment Holdings [Line Items]
Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, Amortized Cost	$ 12,250
Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, Fair Value	$ 12,400
Receivable with Imputed Interest, Effective Yield (Interest Rate)	436.00%
Available-for-sale Securities [Member]
Summary of Investment Holdings [Line Items]
Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, Amortized Cost	$ 201,294
Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, Fair Value	$ 202,396
Receivable with Imputed Interest, Effective Yield (Interest Rate)	205.00%

Composition of loans receivable

Composition of loans receivable and loans held-for-sale (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans receivable, net	$ 1,066,750	$ 1,027,738
Loans Receivable [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Residential 1-4 family	373,131	352,001
Residential 5+ multifamily	52,325	37,058
Construction of residential 1-4 family	19,738	8,814
Home equity lines of credit	23,270	27,804
Residential real estate	468,464	425,677
Commercial	310,923	310,841
Construction of commercial	58,838	31,722
Commercial real estate	369,761	342,563
Farm land	2,807	3,198
Vacant land	14,182	14,079
Real estate secured	855,214	785,517
Commercial and industrial ex PPP Loans	169,543	140,516
PPP Loans	25,589	86,632
Total Commercial and industrial	195,132	227,148
Municipal	16,534	21,512
Consumer	12,547	7,687
Loans receivable, gross	1,079,427	1,041,864
Allowance for loan losses	(12,962)	(13,754)
Loans receivable, net	1,066,750	1,027,738
Loans held-for-sale
Residential 1-4 family	$ 2,684	$ 2,735

Composition of loans receivab_2

Composition of loans receivable by risk rating grade (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Pass [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Residential 1-4 family	$ 367,225	$ 342,243
Residential 5+ multifamily	50,588	35,272
Construction of residential 1-4 family	19,738	8,814
Home equity lines of credit	23,037	27,393
Residential real estate	460,588	413,722
Commercial	271,821	276,866
Construction of commercial	58,838	31,493
Commercial real estate	330,659	308,359
Farm land	1,162	1,612
Vacant land	14,143	13,992
Real estate secured	806,552	737,685
Commercial and industrial	191,857	224,906
Municipal	16,534	21,512
Consumer	12,547	7,660
Loans receivable, gross	1,027,490	991,763
Special Mention [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Residential 1-4 family	3,543	5,615
Residential 5+ multifamily	79	90
Construction of residential 1-4 family
Home equity lines of credit	212	257
Residential real estate	3,834	5,962
Commercial	16,034	15,565
Construction of commercial
Commercial real estate	16,034	15,565
Farm land	1,214
Vacant land	39	50
Real estate secured	21,121	21,577
Commercial and industrial	688	1,271
Municipal
Consumer
Loans receivable, gross	21,809	22,848
Substandard [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Residential 1-4 family	2,363	4,143
Residential 5+ multifamily	1,658	1,696
Construction of residential 1-4 family
Home equity lines of credit	21	154
Residential real estate	4,042	5,993
Commercial	23,068	18,410
Construction of commercial		229
Commercial real estate	23,068	18,639
Farm land	431	1,586
Vacant land		37
Real estate secured	27,541	26,255
Commercial and industrial	2,587	632
Municipal
Consumer		27
Loans receivable, gross	30,128	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	373,131	352,001
Residential 5+ multifamily	52,325	37,058
Construction of residential 1-4 family	19,738	8,814
Home equity lines of credit	23,270	27,804
Residential real estate	468,464	425,677
Commercial	310,923	310,841
Construction of commercial	58,838	31,722
Commercial real estate	369,761	342,563
Farm land	2,807	3,198
Vacant land	14,182	14,079
Real estate secured	855,214	785,517
Commercial and industrial	195,132	227,148
Municipal	16,534	21,512
Consumer	12,547	7,687
Loans receivable, gross	$ 1,079,427	$ 1,041,864

Composition of loans receivab_3

Composition of loans receivable by delinquency status (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Loans Receivable Delinquency Status Current [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Residential 1-4 family	$ 372,620	$ 349,382
Residential 5+ multifamily	51,464	36,197
Construction of residential 1-4 family	19,668	8,814
Home equity lines of credit	23,000	27,522
Residential real estate	466,752	421,915
Commercial	310,331	307,927
Construction of commercial	58,838	31,722
Commercial real estate	369,169	339,649
Farm land	2,807	2,594
Vacant land	14,182	14,079
Real estate secured	852,910	778,237
Commercial and industrial	194,838	224,496
Municipal	16,534	21,512
Consumer	12,503	7,677
Loans receivable, gross	1,076,785	1,031,922
Loans Receivable Delinquency Status Period Two [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Residential 1-4 family	223	1,419
Residential 5+ multifamily
Construction of residential 1-4 family
Home equity lines of credit	165	157
Residential real estate	388	1,576
Commercial	87	1,855
Construction of commercial
Commercial real estate	87	1,855
Farm land		154
Vacant land
Real estate secured	475	3,585
Commercial and industrial	250	2,148
Municipal
Consumer	40	10
Loans receivable, gross	765	5,743
Loans Receivable Delinquency Status Period Three [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Residential 1-4 family	135	308
Residential 5+ multifamily
Construction of residential 1-4 family	70
Home equity lines of credit	98	9
Residential real estate	303	317
Commercial	251	530
Construction of commercial
Commercial real estate	251	530
Farm land		450
Vacant land
Real estate secured	554	1,297
Commercial and industrial	32	457
Municipal
Consumer	4
Loans receivable, gross	590	1,754
Loans Receivable Delinquency Status Period Four [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Residential 1-4 family	63	673
Residential 5+ multifamily
Construction of residential 1-4 family
Home equity lines of credit
Residential real estate	63	673
Commercial		95
Construction of commercial
Commercial real estate		95
Farm land
Vacant land
Real estate secured	63	768
Commercial and industrial	1	1
Municipal
Consumer
Loans receivable, gross	64	769
Loans Receivable Delinquency Status Period Five [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Residential 1-4 family	90	219
Residential 5+ multifamily	861	861
Construction of residential 1-4 family
Home equity lines of credit	7	116
Residential real estate	958	1,196
Commercial	254	434
Construction of commercial
Commercial real estate	254	434
Farm land
Vacant land
Real estate secured	1,212	1,630
Commercial and industrial	11	46
Municipal
Consumer
Loans receivable, gross	1,223	1,676
Loans Receivable Delinquency Status Period Six [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Residential 1-4 family	511	2,619
Residential 5+ multifamily	861	861
Construction of residential 1-4 family	70
Home equity lines of credit	270	282
Residential real estate	1,712	3,762
Commercial	592	2,914
Construction of commercial
Commercial real estate	592	2,914
Farm land		604
Vacant land
Real estate secured	2,304	7,280
Commercial and industrial	294	2,652
Municipal
Consumer	44	10
Loans receivable, gross	2,642	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	750	1,508
Residential 5+ multifamily	861	861
Construction of residential 1-4 family
Home equity lines of credit	21	154
Residential real estate	1,632	2,523
Commercial	1,924	2,544
Construction of commercial
Commercial real estate	1,924	2,544
Farm land	432	158
Vacant land		37
Real estate secured	3,988	5,262
Commercial and industrial	200	374
Municipal
Consumer
Loans receivable, gross	$ 4,188	$ 5,636

Troubled debt restructurings (D

Troubled debt restructurings (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2021USD ($)Integer	Dec. 31, 2020USD ($)Integer
Residential real estate
Troubled Debt Restructuring, Debtor, Subsequent Periods [Line Items]
Quantity | Integer	1	1
Pre-modification balance	$ 74	$ 180
Post-modification balance	$ 74	$ 180
Commercial and industrial
Troubled Debt Restructuring, Debtor, Subsequent Periods [Line Items]
Quantity | Integer		1
Pre-modification balance		$ 133
Post-modification balance		$ 133
Consumer
Troubled Debt Restructuring, Debtor, Subsequent Periods [Line Items]
Quantity | Integer
Pre-modification balance
Post-modification balance
Troubled debt restructurings
Troubled Debt Restructuring, Debtor, Subsequent Periods [Line Items]
Quantity | Integer	1	2
Pre-modification balance	$ 74	$ 313
Post-modification balance	$ 74	$ 313
Interest only payments to sell property
Troubled Debt Restructuring, Debtor, Subsequent Periods [Line Items]
Quantity | Integer
Pre-modification balance
Post-modification balance
Rate reduction
Troubled Debt Restructuring, Debtor, Subsequent Periods [Line Items]
Quantity | Integer
Pre-modification balance
Post-modification balance
Modification and Rate reduction
Troubled Debt Restructuring, Debtor, Subsequent Periods [Line Items]
Quantity | Integer
Pre-modification balance
Post-modification balance
Extension of new funds to pay outstanding taxes
Troubled Debt Restructuring, Debtor, Subsequent Periods [Line Items]
Quantity | Integer
Pre-modification balance
Post-modification balance
Modification And Term Extension Portfolio Segment [Member]
Troubled Debt Restructuring, Debtor, Subsequent Periods [Line Items]
Quantity | Integer	1	2
Pre-modification balance	$ 74	$ 313
Post-modification balance	$ 74	$ 313
Finance Leases Portfolio Segment 1 [Member]
Troubled Debt Restructuring, Debtor, Subsequent Periods [Line Items]
Quantity | Integer	1	2
Pre-modification balance	$ 74	$ 313
Post-modification balance	$ 74	$ 313

Recorded investment and number

Recorded investment and number of modifications for TDRs within the last year where a concession has been made, that then defaulted (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2021USD ($)Integer	Dec. 31, 2020USD ($)Integer
Residential 1-4 family
Troubled Debt Restructuring, Debtor, Subsequent Periods [Line Items]
Financing Receivable, Troubled Debt Restructuring, Subsequent Default, Number of Contracts | Integer	1	1
Financing Receivable, Troubled Debt Restructuring, Subsequent Default | $	$ 74	$ 178
Commercial real estate
Troubled Debt Restructuring, Debtor, Subsequent Periods [Line Items]
Financing Receivable, Troubled Debt Restructuring, Subsequent Default, Number of Contracts | Integer
Financing Receivable, Troubled Debt Restructuring, Subsequent Default | $
Total
Troubled Debt Restructuring, Debtor, Subsequent Periods [Line Items]
Financing Receivable, Troubled Debt Restructuring, Subsequent Default, Number of Contracts | Integer	1	1
Financing Receivable, Troubled Debt Restructuring, Subsequent Default | $	$ 74	$ 178

Components of impaired loans (D

Components of impaired loans (Details) - Loans and Finance Receivables [Member] - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non-accrual loans, excluding troubled debt restructured loans	$ 2,838	$ 4,091
Non-accrual troubled debt restructured loans	1,350	1,546
Accruing troubled debt restructured loans	3,609	6,272
Total impaired loans	7,797	11,909
Commitments to lend additional amounts to impaired borrowers

Changes in allowance for loan l

Changes in allowance for loan losses (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Financing Receivable, Past Due [Line Items]
Beginning balance	$ 13,754
Ending balance	12,962	$ 13,754
Residential 1-4 family
Financing Receivable, Past Due [Line Items]
Beginning balance	2,646	2,393	$ 2,149
Provision	225	255	367
Charge-offs	(44)	(11)	(136)
Recoveries	19	9	3
Ending balance	2,846	2,646	2,393
Recoveries	(19)	(9)	(3)
[custom:AllowanceForLoanLossesAcquisitionDiscountTransfer]			10
Residential 5+ multifamily
Financing Receivable, Past Due [Line Items]
Beginning balance	686	446	413
Provision	131	282	33
Charge-offs		(42)
Recoveries
Ending balance	817	686	446
Recoveries
[custom:AllowanceForLoanLossesAcquisitionDiscountTransfer]
Construction of residential 1-4 family
Financing Receivable, Past Due [Line Items]
Beginning balance	65	75	83
Provision	121	(10)	(8)
Charge-offs
Recoveries
Ending balance	186	65	75
Recoveries
[custom:AllowanceForLoanLossesAcquisitionDiscountTransfer]
Home equity lines of credit
Financing Receivable, Past Due [Line Items]
Beginning balance	252	197	219
Provision	(34)	(197)	258
Charge-offs	(21)		(281)
Recoveries	1	252
Ending balance	198	252	197
Recoveries	(1)	(252)
[custom:AllowanceForLoanLossesAcquisitionDiscountTransfer]			1
Residential real estate
Financing Receivable, Past Due [Line Items]
Beginning balance	3,649	3,111	2,864
Provision	443	330	650
Charge-offs	(65)	(53)	(417)
Recoveries	20	261	3
Ending balance	4,047	3,649	3,111
Recoveries	(20)	(261)	(3)
[custom:AllowanceForLoanLossesAcquisitionDiscountTransfer]			11
Commercial
Financing Receivable, Past Due [Line Items]
Beginning balance	6,546	3,742	3,048
Provision	(1,260)	2,776	248
Charge-offs	(6)	(17)	(44)
Recoveries	136	45	2
Ending balance	5,416	6,546	3,742
Recoveries	(136)	(45)	(2)
[custom:AllowanceForLoanLossesAcquisitionDiscountTransfer]			488
Construction of commercial
Financing Receivable, Past Due [Line Items]
Beginning balance	596	104	122
Provision	447	492	(18)
Charge-offs	(18)
Recoveries
Ending balance	1,025	596	104
Recoveries
[custom:AllowanceForLoanLossesAcquisitionDiscountTransfer]
Commercial real estate
Financing Receivable, Past Due [Line Items]
Beginning balance	7,142	3,846	3,170
Provision	(813)	3,268	230
Charge-offs	(24)	(17)	(44)
Recoveries	136	45	2
Ending balance	6,441	7,142	3,846
Recoveries	(136)	(45)	(2)
[custom:AllowanceForLoanLossesAcquisitionDiscountTransfer]			488
Farm land
Financing Receivable, Past Due [Line Items]
Beginning balance	59	47	33
Provision	(39)	12	14
Charge-offs	(2)
Recoveries	3
Ending balance	21	59	47
Recoveries	(3)
[custom:AllowanceForLoanLossesAcquisitionDiscountTransfer]
Vacant land
Financing Receivable, Past Due [Line Items]
Beginning balance	180	71	100
Provision	(86)	109	(29)
Charge-offs
Recoveries	1
Ending balance	95	180	71
Recoveries	(1)
[custom:AllowanceForLoanLossesAcquisitionDiscountTransfer]
Real estate secured
Financing Receivable, Past Due [Line Items]
Beginning balance	11,030	7,075	6,167
Provision	(495)	3,719	865
Charge-offs	(91)	(70)	(461)
Recoveries	160	306	5
Ending balance	10,604	11,030	7,075
Recoveries	(160)	(306)	(5)
[custom:AllowanceForLoanLossesAcquisitionDiscountTransfer]			499
Commercial and industrial
Financing Receivable, Past Due [Line Items]
Beginning balance	1,397	1,145	1,158
Provision	45	612	(78)
Charge-offs	(131)	(362)	(145)
Recoveries	53	2	46
Ending balance	1,364	1,397	1,145
Recoveries	(53)	(2)	(46)
[custom:AllowanceForLoanLossesAcquisitionDiscountTransfer]			164
Municipal
Financing Receivable, Past Due [Line Items]
Beginning balance	43	46	12
Provision	(12)	(3)	34
Charge-offs
Recoveries
Ending balance	31	43	46
Recoveries
[custom:AllowanceForLoanLossesAcquisitionDiscountTransfer]
Consumer
Financing Receivable, Past Due [Line Items]
Beginning balance	77	60	56
Provision	68	72	3
Charge-offs	(59)	(70)	(36)
Recoveries	4	15	37
Ending balance	82	77	60
Recoveries	(4)	(15)	(37)
[custom:AllowanceForLoanLossesAcquisitionDiscountTransfer]
Unallocated
Financing Receivable, Past Due [Line Items]
Beginning balance	1,207	569	438
Provision	(326)	638	131
Charge-offs
Recoveries
Ending balance	881	1,207	569
Recoveries
[custom:AllowanceForLoanLossesAcquisitionDiscountTransfer]
Totals
Financing Receivable, Past Due [Line Items]
Beginning balance	13,754	8,895	7,831
Provision	(720)	5,038	955
Charge-offs	(281)	(502)	(642)
Recoveries	209	323	88
Ending balance	12,962	13,754	8,895
Recoveries	$ (209)	$ (323)	(88)
[custom:AllowanceForLoanLossesAcquisitionDiscountTransfer]			$ 663

Composition of loans receivab_4

Composition of loans receivable and the allowance for loan losses (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
SEC Schedule, 12-09, Valuation and Qualifying Accounts Disclosure [Line Items]
Totals	$ 1,066,750	$ 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	370,558	347,695
Residential 5+ multifamily	51,376	36,094
Construction of residential 1-4 family	19,738	8,814
Home equity lines of credit	23,249	27,650
Residential real estate	464,921	420,253
Commercial	307,377	305,193
Construction of commercial	58,838	31,722
Commercial real estate	366,215	336,915
Farm land	2,375	3,040
Vacant land	14,182	13,912
Real estate secured	847,693	774,120
Commercial and industrial	194,856	226,662
Municipal	16,534	21,512
Consumer	12,547	7,661
Unallocated allowance
Totals	1,071,630	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	2,845	2,445
Residential 5+ multifamily	817	686
Construction of residential 1-4 family	186	65
Home equity lines of credit	198	232
Residential real estate	4,046	3,428
Commercial	5,388	6,298
Construction of commercial	1,025	596
Commercial real estate	6,413	6,894
Farm land	21	59
Vacant land	95	178
Real estate secured	10,575	10,559
Commercial and industrial	1,297	1,223
Municipal	31	43
Consumer	82	59
Unallocated allowance	881	1,207
Totals	12,866	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	2,573	4,306
Residential 5+ multifamily	949	964
Construction of residential 1-4 family
Home equity lines of credit	21	154
Residential real estate	3,543	5,424
Commercial	3,546	5,648
Construction of commercial
Commercial real estate	3,546	5,648
Farm land	432	158
Vacant land		167
Real estate secured	7,521	11,397
Commercial and industrial	276	486
Municipal
Consumer		26
Unallocated allowance
Totals	7,797	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	1	201
Residential 5+ multifamily
Construction of residential 1-4 family
Home equity lines of credit		20
Residential real estate	1	221
Commercial	28	248
Construction of commercial
Commercial real estate	28	248
Farm land
Vacant land		2
Real estate secured	29	471
Commercial and industrial	67	174
Municipal
Consumer		18
Unallocated allowance
Totals	96	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	373,131	352,001
Residential 5+ multifamily	52,325	37,058
Construction of residential 1-4 family	19,738	8,814
Home equity lines of credit	23,270	27,804
Residential real estate	468,464	425,677
Commercial	310,923	310,841
Construction of commercial	58,838	31,722
Commercial real estate	369,761	342,563
Farm land	2,807	3,198
Vacant land	14,182	14,079
Real estate secured	855,214	785,517
Commercial and industrial	195,132	227,148
Municipal	16,534	21,512
Consumer	12,547	7,687
Unallocated allowance
Totals	1,079,427	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	2,846	2,646
Residential 5+ multifamily	817	686
Construction of residential 1-4 family	186	65
Home equity lines of credit	198	252
Residential real estate	4,047	3,649
Commercial	5,416	6,546
Construction of commercial	1,025	596
Commercial real estate	6,441	7,142
Farm land	21	59
Vacant land	95	180
Real estate secured	10,604	11,030
Commercial and industrial	1,364	1,397
Municipal	31	43
Consumer	82	77
Unallocated allowance	881	1,207
Totals	$ 12,962	$ 13,754

Credit quality segments of loan

Credit quality segments of loans receivable and the allowance for loan losses (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Financing Receivable, Past Due [Line Items]
Totals	$ 1,066,750	$ 1,027,738
Allowance For Loan And Lease Losses Collectively Evaluated Loans Credit Quality Segment [Member]
Financing Receivable, Past Due [Line Items]
Performing loans	1,046,614	1,011,757
Potential problem loans 1	25,016	18,198
Impaired loans
Unallocated allowance
Totals	1,071,630	1,029,955
Allowance For Loan And Lease Losses Collectively Evaluated Allowance Credit Quality Segment [Member]
Financing Receivable, Past Due [Line Items]
Performing loans	10,456	10,424
Potential problem loans 1	1,529	1,460
Impaired loans
Unallocated allowance	881	1,207
Totals	12,866	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	7,797	11,909
Unallocated allowance
Totals	7,797	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	96	663
Unallocated allowance
Totals	96	663
Allowance For Loan And Lease Losses Total Portfolio Loans Credit Quality Segment [Member]
Financing Receivable, Past Due [Line Items]
Performing loans	1,046,614	1,011,757
Potential problem loans 1	25,016	18,198
Impaired loans	7,797	11,909
Unallocated allowance
Totals	1,079,427	1,041,864
Allowance For Loan And Lease Losses Total Portfolio Allowance Credit Quality Segment [Member]
Financing Receivable, Past Due [Line Items]
Performing loans	10,456	10,424
Potential problem loans 1	1,529	1,460
Impaired loans	96	663
Unallocated allowance	881	1,207
Totals	$ 12,962	$ 13,754

Certain data with respect to lo

Certain data with respect to loans individually evaluated for impairment (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
SEC Schedule, 12-09, Valuation and Qualifying Accounts Disclosure [Line Items]
Totals	$ 1,066,750	$ 1,027,738
Impaired Loans Specific Allowance Loan Balance Book [Member]
SEC Schedule, 12-09, Valuation and Qualifying Accounts Disclosure [Line Items]
Residential	43	2,971
Home equity lines of credit		75
Residential real estate	43	3,046
Commercial	608	3,058
Construction of commercial
Farm land
Vacant land		37
Real estate secured	651	6,141
Commercial and industrial	216	416
Consumer		26
Totals	867	6,583
Impaired Loans Specific Allowance Loan Balance Note [Member]
SEC Schedule, 12-09, Valuation and Qualifying Accounts Disclosure [Line Items]
Residential	44	3,040
Home equity lines of credit		75
Residential real estate	44	3,115
Commercial	608	3,117
Construction of commercial
Farm land
Vacant land		40
Real estate secured	652	6,272
Commercial and industrial	224	424
Consumer		26
Totals	876	6,722
Impaired Loans Specific Allowance Loan Balance Average [Member]
SEC Schedule, 12-09, Valuation and Qualifying Accounts Disclosure [Line Items]
Residential	872	3,862
Home equity lines of credit	17	76
Residential real estate	889	3,938
Commercial	1,678	3,325
Construction of commercial
Farm land
Vacant land	56	39
Real estate secured	2,623	7,302
Commercial and industrial	309	482
Consumer	6	31
Totals	2,938	7,815
SEC Schedule, 12-09, Reserve, Impairment of Recognized Servicing Asset [Member]
SEC Schedule, 12-09, Valuation and Qualifying Accounts Disclosure [Line Items]
Residential	1	201
Home equity lines of credit		20
Residential real estate	1	221
Commercial	28	248
Construction of commercial
Farm land
Vacant land		2
Real estate secured	29	471
Commercial and industrial	67	174
Consumer		18
Totals	96	663
Impaired Loans Specific Allowance Loan Income Recognized [Member]
SEC Schedule, 12-09, Valuation and Qualifying Accounts Disclosure [Line Items]
Residential	3	72
Home equity lines of credit
Residential real estate	3	72
Commercial	32	132
Construction of commercial
Farm land
Vacant land
Real estate secured	35	204
Commercial and industrial	3	4
Consumer		2
Totals	38	210
Impaired Loans No Specific Allowance Loan Balance Book [Member]
SEC Schedule, 12-09, Valuation and Qualifying Accounts Disclosure [Line Items]
Residential	3,480	2,299
Home equity lines of credit	21	79
Residential real estate	3,501	2,378
Commercial	2,938	2,590
Construction of commercial
Farm land	431	158
Vacant land		130
Real estate secured	6,870	5,256
Commercial and industrial	60	70
Consumer
Totals	6,930	5,326
Impaired Loans No Specific Allowance Loan Balance Note [Member]
SEC Schedule, 12-09, Valuation and Qualifying Accounts Disclosure [Line Items]
Residential	3,817	2,676
Home equity lines of credit	23	117
Residential real estate	3,840	2,793
Commercial	3,493	3,203
Construction of commercial
Farm land	447	319
Vacant land		145
Real estate secured	7,780	6,460
Commercial and industrial	72	283
Consumer
Totals	7,852	6,743
Impaired Loans No Specific Allowance Loan Balance Average [Member]
SEC Schedule, 12-09, Valuation and Qualifying Accounts Disclosure [Line Items]
Residential	3,689	1,993
Home equity lines of credit	131	103
Residential real estate	3,820	2,096
Commercial	2,974	1,139
Construction of commercial
Farm land	440	173
Vacant land	45	134
Real estate secured	7,279	3,542
Commercial and industrial	90	58
Consumer	13
Totals	7,382	3,600
Impaired Loans No Specific Allowance Loan Income Recognized [Member]
SEC Schedule, 12-09, Valuation and Qualifying Accounts Disclosure [Line Items]
Residential	75	27
Home equity lines of credit
Residential real estate	75	27
Commercial	62	91
Construction of commercial
Farm land
Vacant land		9
Real estate secured	137	127
Commercial and industrial		2
Consumer
Totals	$ 137	$ 129

NOTE 3 - LOANS (Details Narrati

NOTE 3 - LOANS (Details Narrative)	12 Months Ended
	Dec. 31, 2021USD ($)Integer	Dec. 31, 2020USD ($)Integer
Receivables [Abstract]
Other Real Estate, Covered	$ 77,500,000	$ 65,300,000
[custom:SBAPPPLoanProgramNumberOfApplicationsProcessed] | Integer	472	932
[custom:SBAPPPLoanProgramAmountProcessed]	$ 48,000,000	$ 100,000,000
Interest and Fee Income, Other Loans	651,000	683,000
Loans and Leases Receivable, Fees Earned but Excluded from Yield	2,900,000	$ 1,400,000
[custom:SBAPPPLoanBalance-0]	26,000,000
Loans and Leases Receivable, Deferred Income	$ 800,000

Assets and liabilities as well

Assets and liabilities as well as costs of operating and finance leases (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Liabilities
Property, Plant, and Equipment and Finance Lease Right-of-Use Asset, Accumulated Depreciation and Amortization	$ 496	$ 396
Operating leases	295	261
Amortization of leased assets	101	101
Interest on finance leases	136	141
Total lease cost	$ 532	$ 503
Operating leases	6 years 328 days 12 hours	7 years 219 days
Financing leases	23 years 6 months	14 years 73 days
Weighted Average Discount Rate 1
Operating leases	3.61%	3.67%
Financing leases	4.97%	8.37%
Assets And Liabilities [Member]
Assets
Operating	$ 1,021	$ 1,182
Finance	3,791	1,402
Total Leased Assets	4,812	2,584
Liabilities
Operating	1,021	1,182
Finance	4,107	1,673
Total lease liabilities	$ 5,128	$ 2,855

Present value of net minimum le

Present value of net minimum lease payments (Details) $ in Thousands	Dec. 31, 2021USD ($)
Finance Leases [Member]
Lessee, Lease, Description [Line Items]
	$ 293
	296
	300
	305
	310
	4,899
	6,403
	(2,296)
	4,107
Operating Leases [Member]
Lessee, Lease, Description [Line Items]
	227
	167
	129
	136
	136
	381
	1,176
	(155)
	$ 1,021

NOTE 5 _ ASSETS HELD FOR SALE (

NOTE 5 – ASSETS HELD FOR SALE (Details Narrative) $ in Thousands	12 Months Ended
	Dec. 31, 2021USD ($)
Property, Plant and Equipment [Abstract]
Assets Held-for-sale, Not Part of Disposal Group	$ 700,000
[custom:ImpairmentExpenseRecordedOnAssetsHeldForSale]	$ 144

Balances of loans serviced for

Balances of loans serviced for others and fair value of mortgage servicing rights (Details) - Derivative Financial Instruments, Assets [Member] - USD ($) $ in Thousands	Dec. 31, 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	$ 140,623	$ 134,428
Fair value of mortgage servicing rights	$ 1,043	$ 762

Changes in mortgage servicing r

Changes in mortgage servicing rights (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Mortgage Servicing Rights
Balance, beginning of period	$ 621	$ 238	$ 228
Originated	314	534	61
Amortization (1)	(235)	(151)	(51)
Balance, end of period	700	621	238
Valuation Allowance
Balance, beginning of period	(9)
Decrease (increase) in impairment reserve (1)	9	(9)
Balance, end of period		(9)
Mortgage servicing rights, net	$ 700	$ 612	$ 238

Securities and loans pledged to

Securities and loans 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	Dec. 31, 2021	Dec. 31, 2020
Guarantor Obligations [Line Items]
Securities available-for-sale (at fair value)	$ 75,737	$ 54,581
Loans receivable (at book value)	378,845	420,415
Total pledged assets	$ 454,582	$ 474,996

NOTE 7 - PLEDGED ASSETS (Detail

NOTE 7 - PLEDGED ASSETS (Details Narrative)	Dec. 31, 2021USD ($)
Guarantees and Product Warranties [Abstract]
Pledged Assets Separately Reported, Securities Pledged as Collateral, at Fair Value	$ 63,980,000
Pledged Assets Separately Reported, Securities Pledged for Repurchase Agreements, at Fair Value	11,700,000
Pledged Assets Separately Reported, Securities Pledged for Federal Home Loan Bank, at Fair Value	$ 20,000

Components of premises and equi

Components of premises and equipment (Details) - Land and Building [Member] - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Property, Plant and Equipment [Line Items]
Land	$ 3,277	$ 2,762
Buildings and improvements	18,246	14,886
Leasehold improvements	1,553	1,553
Finance leases	4,288	1,798
Furniture, fixtures, equipment and software	10,623	9,687
Fixed assets in process	347	4,839
Total cost	38,334	35,525
Accumulated depreciation and amortization	(15,709)	(15,170)
Bank premises and equipment, net	$ 22,625	$ 20,355

Changes in carrying values of g

Changes in carrying values of goodwill and intangible assets (Details) - Other Intangible Assets [Member] - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Goodwill (1)
Balance, beginning of period	$ 13,815	$ 13,815	$ 13,815
Additions
Impairment
Balance, end of period	13,815	13,815	13,815
Core deposit intangibles
Cost, beginning of period	5,881	5,881	5,881
Cost, end of period	5,881	5,881	5,881
Amortization, beginning of period	(5,207)	(4,886)	(4,498)
Amortization	(256)	(321)	(388)
Amortization, end of period	(5,463)	(5,207)	(4,886)
Core deposit intangibles, net	$ 418	$ 674	$ 995

Estimated annual amortization e

Estimated annual amortization expense of core deposit intangibles (Details) - USD ($) $ in Thousands	12 Months Ended						72 Months Ended
	Dec. 31, 2027	Dec. 31, 2026	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2027
Core Deposits [Member]
Finite-Lived Intangible Assets [Line Items]
Other Depreciation and Amortization	$ 1	$ 11	$ 25	$ 61	$ 128	$ 192	$ 418

Scheduled maturities of time ce

Scheduled maturities of time certificates of deposit (Details) - Certificates of Deposit [Member] $ in Thousands	Dec. 31, 2021USD ($)
Distribution of Assets, Liabilities and Stockholders' Equity [Line Items]
	$ 87,034
	15,403
	9,690
	4,138
	2,685
	59
	$ 119,009

Total amount and scheduled matu

Total amount and scheduled maturities of time certificates of deposit in denominations of $250 thousand or more (Details) - Core Deposits [Member] - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Finite-Lived Intangible Assets [Line Items]
Within three months	$ 8,642	$ 4,045
After three through six months	1,010	17,218
After six through twelve months	4,938	4,851
Over one year	3,286	12,581
Total	$ 17,876	$ 38,695

Securities sold under repurchas

Securities sold under repurchase agreements (Details) - Loans [Member] - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Assets Sold under Agreements to Repurchase [Line Items]
Repurchase agreements, ending balance	$ 11,430	$ 7,116
Repurchase agreements, average balance during period	10,679	7,986
Book value of collateral	17,084	12,632
Market value of collateral	$ 17,469	$ 13,196
Weighted average rate during period	0.15%	0.25%
Repurchase Agreement Counterparty, Weighted Average Maturity of Agreements	1 day	1 day

Federal Home Loan Bank of Bosto

Federal Home Loan Bank of Boston advances (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
F H L B B Advances Total [Member]
Federal Home Loan Bank, Advances, Branch of FHLB Bank [Line Items]
Advances from Federal Home Loan Banks
Federal Home Loan Bank, Advance, Maturity, Year Three		4,984
Federal Home Loan Bank, Advance, Maturity, Year Four	7,656	7,655
Long-term Federal Home Loan Bank Advances	$ 7,656	$ 12,639
F H L B B Advances Rate [Member]
Federal Home Loan Bank, Advances, Branch of FHLB Bank [Line Items]
Federal Home Loan Bank, Advances, Interest Rate
Federal Home Loan Bank, Advance, Maturity, Average Interest Rate, Year Three		1.13%
Federal Home Loan Bank, Advance, Maturity, Average Interest Rate, Year Four	1.39%	1.38%
Federal Home Loan Bank, Advances, Branch of FHLB Bank, Interest Rate	1.39%	1.29%

NOTE 10 - DEPOSITS (Details Nar

NOTE 10 - DEPOSITS (Details Narrative) - USD ($)	Dec. 31, 2021	Dec. 31, 2020
Interest-bearing Domestic Deposit, Brokered	$ 34,700,000	$ 25,400,000
Interest-bearing Deposit Liabilities, Domestic	$ 73,300,000	$ 51,500,000

NOTE 12 _ FEDERAL HOME LOAN B_3

NOTE 12 – FEDERAL HOME LOAN BANK OF BOSTON ADVANCES AND OTHER BORROWED FUNDS (Details Narrative) - USD ($)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2015	Dec. 31, 2020
Federal Home Loan Bank, Advances, General Debt Obligations, Maximum Amount Available	$ 250,900,000
Federal Home Loan Bank, Advances, General Debt Obligations, Amount of Available, Unused Funds	3,500,000
Letters of Credit Outstanding, Amount	20,000,000		$ 20,000,000
Proceeds from Issuance of Trust Preferred Securities	25,000,000
Subordinated Debt, Current	24,500,000
Unamortized Debt Issuance Expense	$ 526
Subordinated Borrowing, Interest Rate	3.73%
[custom:RedemptionOfSubordinatedDebtIssued]	$ 10,000,000
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate, Other Addition		$ 380,000
[custom:PrivateMortgageBranchPurchaseInterestRate]	6000000.00%
Secured Debt, Current	$ 170,000		$ 208,000

Components of income tax provis

Components of income tax provision (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Operating Loss Carryforwards [Line Items]
Deferred expense (benefit)	$ 389	$ (1,600)	$ (391)
Income tax provision	4,267	2,453	2,359
Domestic Tax Authority [Member]
Operating Loss Carryforwards [Line Items]
Federal	3,340	3,487	2,406
State	538	566	344
Current provision	3,878	4,053	2,750
Federal	327	(1,335)	(317)
State	62	(265)	(74)
Deferred expense (benefit)	389	(1,600)	(391)
Income tax provision	$ 4,267	$ 2,453	$ 2,359

Reconciliation of the expected

Reconciliation of the expected federal statutory tax to the income tax provision (Details)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Income Tax Disclosure [Abstract]
Income tax at statutory federal tax rate	21.00%	21.00%	21.00%
State tax, net of federal tax benefit	2.30%	1.97%	1.58%
Tax exempt income and dividends received deduction	(2.52%)	(3.69%)	(3.82%)
BOLI interest and gain	(0.56%)	(1.60%)	(0.61%)
Other	0.35%	(0.64%)	(0.67%)
Effective income tax rates	20.57%	17.04%	17.48%

Components of Salisbury's net d

Components of Salisbury's net deferred tax assets (Details) - SEC Schedule, 12-09, Valuation Allowance, Deferred Tax Asset [Member] - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Valuation Allowance [Line Items]
Allowance for loan losses	$ 3,170	$ 3,355
Interest on non-performing loans	157	214
Accrued deferred compensation	488	517
Post-retirement benefits	11	11
Mark-to-market purchase accounting adjustments	17
Loss on equity securities	4
Restricted stock awards	361	196
Deferred loan costs, net		90
Other	183	98
Gross deferred tax assets	4,391	4,481
Deferred loan fees, net	(69)
Mark-to-market purchase accounting adjustments		(8)
Goodwill and core deposit intangible asset	(615)	(590)
Accelerated depreciation	(681)	(522)
Gain on equity securities		(2)
Prepaid expenses	(32)
Gain on disposal	(5)
Mortgage servicing rights	(169)	(150)
Net unrealized holding gains on available-for-sale securities	(232)	(797)
Gross deferred tax liabilities	(1,803)	(2,069)
Net deferred tax asset	$ 2,588	$ 2,412

Actual regulatory capital posit

Actual regulatory capital position and minimum capital requirements (Details) $ in Thousands	Dec. 31, 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	$ 152,789	$ 127,254
Banking Regulation, Total Risk-Based Capital Ratio, Actual	0.1408	0.1357
Banking Regulation, Total Risk-Based Capital, Capital Adequacy, Minimum	$ 86,832	$ 75,037
Banking Regulation, Total Risk-Based Capital Ratio, Capital Adequacy, Minimum	0.080	0.080
[custom:TotalCapitalMinimumCapitalRequiredForCapitalAdequacyPlusRequiredCapitalConservationBufferAmount-0]	$ 113,968	$ 98,486
[custom:TotalCapitalMinimumCapitalRequiredForCapitalAdequacyPlusRequiredCapitalConservationBufferRatio-0]	10.50%	10.50%
Banking Regulation, Total Risk-Based Capital, Well Capitalized, Minimum	$ 108,541	$ 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	$ 139,681	$ 115,503
Banking Regulation, Total Risk-Based Capital Ratio, Actual	0.1287	0.1231
Banking Regulation, Total Risk-Based Capital, Capital Adequacy, Minimum	$ 65,124	$ 56,278
Banking Regulation, Total Risk-Based Capital Ratio, Capital Adequacy, Minimum	0.060	0.060
[custom:TotalCapitalMinimumCapitalRequiredForCapitalAdequacyPlusRequiredCapitalConservationBufferAmount-0]	$ 92,259	$ 79,727
[custom:TotalCapitalMinimumCapitalRequiredForCapitalAdequacyPlusRequiredCapitalConservationBufferRatio-0]	8.50%	8.50%
Banking Regulation, Total Risk-Based Capital, Well Capitalized, Minimum	$ 86,832	$ 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	$ 139,681	$ 115,503
Banking Regulation, Total Risk-Based Capital Ratio, Actual	0.1287	0.1231
Banking Regulation, Total Risk-Based Capital, Capital Adequacy, Minimum	$ 48,843	$ 42,208
Banking Regulation, Total Risk-Based Capital Ratio, Capital Adequacy, Minimum	0.045	0.045
[custom:TotalCapitalMinimumCapitalRequiredForCapitalAdequacyPlusRequiredCapitalConservationBufferAmount-0]	$ 75,978	$ 65,657
[custom:TotalCapitalMinimumCapitalRequiredForCapitalAdequacyPlusRequiredCapitalConservationBufferRatio-0]	7.00%	7.00%
Banking Regulation, Total Risk-Based Capital, Well Capitalized, Minimum	$ 70,551	$ 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	$ 139,681	$ 115,503
Banking Regulation, Total Risk-Based Capital Ratio, Actual	0.0942	0.0890
Banking Regulation, Total Risk-Based Capital, Capital Adequacy, Minimum	$ 59,285	$ 51,907
Banking Regulation, Total Risk-Based Capital Ratio, Capital Adequacy, Minimum	0.040	0.040
[custom:TotalCapitalMinimumCapitalRequiredForCapitalAdequacyPlusRequiredCapitalConservationBufferAmount-0]	$ 59,285	$ 51,907
[custom:TotalCapitalMinimumCapitalRequiredForCapitalAdequacyPlusRequiredCapitalConservationBufferRatio-0]	4.00%	4.00%
Banking Regulation, Total Risk-Based Capital, Well Capitalized, Minimum	$ 74,106	$ 64,884
Banking Regulation, Total Risk-Based Capital Ratio, Well Capitalized, Minimum	0.050	0.050

NOTE 14 _ SHAREHOLDERS_ EQUIT_2

NOTE 14 – SHAREHOLDERS’ EQUITY (Details Narrative) - USD ($)	Dec. 31, 2021	Dec. 31, 2020
Equity [Abstract]
Banking Regulation, Risk-Weighted Assets, Actual	$ 1,085,400,000	$ 938,000,000

NOTE 15 _ OTHER BENEFITS (Detai

NOTE 15 – OTHER BENEFITS (Details Narrative) - USD ($)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Retirement Benefits [Abstract]
Defined Contribution Plan, Administrative Expense	$ 1,100,000	$ 900,000	$ 900,000
Employee Stock Ownership Plan (ESOP), Compensation Expense	265,000	263,000	285,000
Liability, Pension and Other Postretirement and Postemployment Benefits, Current	779,000	771,000
[custom:BenefitAdjustmentOnFuturePostretirementBenefitObligationsUnderEndorsementSplitdollarLifeInsuranceArrangements]			328,000
[custom:OffsettingExpenseOnFuturePostretirementBenefitObligationsUnderEndorsementSplitdollarLifeInsuranceArrangements]			101,000
[custom:NetCreditToExpenseFuturePostretirementBenefitObligationsUnderEndorsementSplitdollarLifeInsuranceArrangements]			227,000
[custom:DefinedContributionPlanEmployerDiscretionaryContributionAmount1]	8,000	7,000
Liability, Other Postretirement Defined Benefit Plan	263,000	312,000
Defined Contribution Plan, Employer Discretionary Contribution Amount	$ 114,000	$ 135,000	$ 114,000

Amount of cumulatively granted

Amount of cumulatively granted restricted stock awards under the 2011 and 2017 Long-Term Incentive Plans (Details) - Restricted Stock [Member] - $ / shares	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted stock awards, beginning of year	40,125	39,626
Weighted average grant price, beginning of year	$ 39.44	$ 41.04
Restricted stock awards, beginning of year	16,650	15,475
Weighted average grant price, beginning of year	$ 45.06	$ 35.82
Restricted stock awards, beginning of year	(12,370)	(13,776)
Weighted average grant price, beginning of year	$ 43.45	$ 39.71
Restricted stock awards, beginning of year	0	1,200
Weighted average grant price, beginning of year	$ 0	$ 41.25
Restricted stock awards, beginning of year	0	(1,200)
Restricted stock awards, beginning of year	44,405	40,125
Weighted average grant price, beginning of year	$ 40.43	$ 39.44

Amount of cumulatively grante_2

Amount of cumulatively granted performance based restricted stock units awarded under the 2017 Long-Term Incentive Plans (Details) - Restricted Stock Units (RSUs) [Member] - $ / shares	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted stock awards, beginning of year	13,700	6,800
Weighted average grant price, beginning of year	$ 38.64	$ 41.20
Restricted stock awards, beginning of year	7,400	7,250
Weighted average grant price, beginning of year	$ 47.79	$ 36.36
Restricted stock awards, beginning of year	0	0
Weighted average grant price, beginning of year	$ 0	$ 0
Restricted stock awards, beginning of year	0	350
Weighted average grant price, beginning of year	$ 0	$ 41.20
Restricted stock awards, beginning of year	0	(350)
Restricted stock awards, beginning of year	21,100	13,700
Weighted average grant price, beginning of year	$ 41.85	$ 38.64

NOTE 16 - LONG TERM INCENTIVE_3

NOTE 16 - LONG TERM INCENTIVE PLANS (Details Narrative) - USD ($) $ in Thousands	1 Months Ended	12 Months Ended
	Feb. 28, 2022	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Retirement Benefits [Abstract]
[custom:TotalNumberOfSharesOfCommonStockReservedAndAvailableForIssuanceInTenYearsFollowingAdoptionOfPlan]		84,000
[custom:MaximumSharesIssuedPerCalendarYear]		30,000
[custom:TotalSharesAwardedAsISOs]		42,000
[custom:TotalSharesIssuedAsDirectorsStockRetainerAwards]		15,000
[custom:AnnualStockRetainerIndividualDirectorMaximum]		340
[custom:TotalSharesAvailableForIssuanceForAwardsUnder2017LTIP]		200,000
[custom:TotalSharesAvailableForIssuanceForAwardsUnder2017LTIPExerciseOfStockOptions]		200,000
[custom:TotalSharesAvailableForIssuanceForAwardsUnder2017LTIPIssuedAsRestrictedStock]		150,000
Stock Issued During Period, Shares, Restricted Stock Award, Net of Forfeitures	14,350	16,650	15,475	15,130
Stock Issued During Period, Value, Restricted Stock Award, Net of Forfeitures	$ 813	$ 750	$ 554	$ 601
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested in Period, Fair Value		538	464	556
Deferred Compensation Arrangement with Individual, Compensation Expense		599	525	491
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount		925	774	795
[custom:TaxBenefitAssociatedWithRestrictedStockAwardsRecognizedInEarnings]		108	95	88
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Net of Forfeitures					53,500
Share-based Payment Arrangement, Expensed and Capitalized, Amount		$ 0	$ 141	$ 414
[custom:PerformancebasedRestrictedStockUnitsPursuantTo2017LongtermIncentivePlanGranted]	6,950	7,400	7,250	6,800
[custom:PerformancebasedRestrictedStockUnitsPursuantTo2017LongtermIncentivePlanFairValue]		$ 354	$ 264	$ 280
[custom:PerformancebasedRestrictedStockUnitsPursuantTo2017LongtermIncentivePlanCompensationExpense]		331	221	70
[custom:ShortTermIncentivePlanExpenseIncludedInCompensationExpenses]		$ 1,166	$ 941	$ 888

Remaining outstanding options r

Remaining outstanding options related to acquisition of Riverside Bank and summary of status of Salisbury's outstanding stock options (Details) - Outstanding Stock Options [Member] - USD ($)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]
Number of options, beginning of period	14,715	17,820
Weighted average exercise price, beginning of period	$ 17.04	$ 17.04
Number of options, beginning of period
Weighted average exercise price, beginning of period
Number of options, beginning of period	(1,755)	(3,105)
Weighted average exercise price, beginning of period	$ 17.04	$ 17.04
Number of options, beginning of period
Weighted average exercise price, beginning of period
Number of options, beginning of period	12,960	14,715
Weighted average exercise price, beginning of period	$ 17.04	$ 17.04
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Remaining Contractual Term	2 years	3 years
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding, Aggregate Intrinsic Value	$ 491,443	$ 297,684

NOTE 17 _ STOCK OPTIONS (Detail

NOTE 17 – STOCK OPTIONS (Details Narrative) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Equity [Abstract]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period, Intrinsic Value	$ 37	$ 78	$ 125

Changes in loans to executive o

Changes in loans to executive officers, directors and their related associates (Details) - Equity Method Investee [Member] - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Related Party Transaction [Line Items]
	$ 9,417	$ 10,655
	2,067	2,407
	(2,438)	(3,645)
	$ 9,046	$ 9,417

Reconciliation of the changes i

Reconciliation of the changes in the components of other comprehensive (loss) income, including the amount of income tax benefit (expense) allocated to each component of other comprehensive (loss) income (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Other comprehensive (loss) income
Net unrealized (losses) gains on securities available-for-sale	$ (2,701)	$ 2,280	$ 2,258
Unrealized (losses) gains on securities available-for-sale	(2,699)	2,084	1,995
Other comprehensive (loss) income	(2,134)	1,647	1,577
Other Comprehensive Income (Loss) [Member]
Other comprehensive (loss) income
Net unrealized (losses) gains on securities available-for-sale	(2,701)	2,280	2,258
Reclassification of net realized losses (gains) in net income (1)	2	(196)	(263)
Unrealized (losses) gains on securities available-for-sale	(2,699)	2,084	1,995
Income tax benefit (expense)	565	(437)	(418)
Unrealized (losses) gains on securities available-for-sale, net of tax	(2,134)	1,647	1,577
Other comprehensive (loss) income	$ (2,134)	$ 1,647	$ 1,577

Components of accumulated other

Components of accumulated other comprehensive income (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Equity [Abstract]
Unrealized gains on securities available-for-sale, net of tax	$ 870	$ 3,004
Accumulated other comprehensive income	$ 870	$ 3,004

NOTE 19 _ OTHER COMPREHENSIVE_3

NOTE 19 – OTHER COMPREHENSIVE (LOSS) INCOME (Details Narrative) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Equity [Abstract]
Reclassification from AOCI, Current Period, Tax	$ 0	$ 41	$ 55

Amounts recorded on the balance

Amounts recorded on the balance sheet related to cumulative basis adjustment for fair value hedges (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Derivative Instruments, Gain (Loss) [Line Items]
Derivative, Net Liability Position, Aggregate Fair Value	$ (18)	$ (4)
[custom:DerivativeNetLiabilityPositionAggregateFairValueTotal-0]	(18)	(4)
Hedged Assets Liabilities Carrying Amount [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Loans receivable (1)	9,982	9,996
Total	$ 9,982	$ 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	Dec. 31, 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	18	$ 4
Total Derivatives designated as hedge instruments	$ 18	$ 4

Effect of the Company's derivat

Effect of the Company's derivative financial instruments on the Income Statement (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 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	$ 3	$ 1
Hedged items	(14)	(4)
Derivatives designated as hedging instruments	17	5
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
Derivatives designated as hedging instruments

NOTE 20 _ DERIVATIVES AND HED_3

NOTE 20 – DERIVATIVES AND HEDGING ACTIVITIES (Details Narrative)	Dec. 31, 2021USD ($)
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Available-for-sale Securities, Amortized Cost Basis	$ 37,800,000
Available-for-sale Equity Securities, Amortized Cost Basis	18,000
Derivative, Amount of Hedged Item	10,000,000
Derivative Asset, Fair Value of Collateral	$ 250,000

Financial instruments with off-

Financial instruments with off-balance sheet credit risk (Details) - USD ($)	Dec. 31, 2021	Dec. 31, 2020
Financing Receivable, Credit Quality Indicator [Line Items]
Commitments to originate loans	$ 800,000
Letters of credit	2,800,000	$ 4,800,000
Performing Financial Instruments [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Residential	16,288,000	11,661,000
Home equity lines of credit	31,490,000	28,919,000
Commercial	41,544,000	10,103,000
Land	839,000	566,000
Real estate secured	90,161,000	51,249,000
Commercial and industrial	112,262,000	94,854,000
Municipal	541,000	1,804,000
Consumer	4,349,000	2,077,000
Unadvanced portions of loans	207,313,000	149,984,000
Commitments to originate loans	43,689,000	49,753,000
Letters of credit	2,835,000	4,758,000
Total	$ 253,837,000	$ 204,495,000

NOTE 22 - FINANCIAL INSTRUMEN_3

NOTE 22 - FINANCIAL INSTRUMENTS (Details Narrative) - USD ($)	Dec. 31, 2021	Dec. 31, 2020
Investments, All Other Investments [Abstract]
Guarantees, Fair Value Disclosure	$ 2,800,000	$ 4,800,000

Assets measured at fair value (

Assets measured at fair value (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Fair Value, Inputs, Level 1 [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	901	917
Derivative financial instruments
Assets at fair value on a non-recurring basis
Assets held for sale 1	700
Fair Value, Inputs, Level 2 [Member]
Assets at fair value on a recurring basis
U.S. Treasury	15,131
U.S. Government Agency notes	31,604	7,851
Municipal bonds	47,822	27,617
U.S. Government agencies and U.S. Government-sponsored enterprises	74,541	36,573
U.S. Government agencies	20,898	17,454
Corporate bonds	12,400	8,916
Securities available-for-sale	202,396	98,411
CRA mutual funds
Derivative financial instruments	18	4
Assets at fair value on a non-recurring basis
Assets held for sale 1
Fair Value, Inputs, Level 3 [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 1, 2 and 3 [Member]
Assets at fair value on a recurring basis
U.S. Treasury	15,131
U.S. Government Agency notes	31,604	7,851
Municipal bonds	47,822	27,617
U.S. Government agencies and U.S. Government-sponsored enterprises	74,541	36,573
U.S. Government agencies	20,898	17,454
Corporate bonds	12,400	8,916
Securities available-for-sale	202,396	98,411
CRA mutual funds	901	917
Derivative financial instruments	18	$ 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	Dec. 31, 2021	Dec. 31, 2020
Carrying Reported Amount Fair Value Disclosure S A L [Member]
Financial Assets
Cash and cash equivalents	$ 175,335	$ 93,162
Interest bearing time deposits with financial institutions	750	750
Securities available-for-sale	202,396	98,411
CRA mutual fund	901	917
Federal Home Loan Bank of Boston stock	1,397	1,713
Loans held-for-sale	2,684	2,735
Loans receivable, net	1,066,750	1,027,738
Accrued interest receivable	6,260	6,373
Cash surrender value of life insurance policies	27,738	21,182
Derivative financial instruments	18	4
Financial Liabilities
Demand (non-interest-bearing)	416,073	310,769
Demand (interest-bearing)	233,600	218,869
Money market	330,436	278,146
Savings and other	237,075	189,776
Certificates of deposit	119,009	131,514
Deposits	1,336,193	1,129,074
Repurchase agreements	11,430	7,116
FHLBB advances	7,656	12,639
Subordinated debt	24,474	9,883
Note payable	170	208
Finance lease liability	4,107	1,673
Accrued interest payable	49	43
Estimate Of Fair Value Fair Value Disclosure S A L [Member]
Financial Assets
Cash and cash equivalents	175,335	93,162
Interest bearing time deposits with financial institutions	750	750
Securities available-for-sale	202,396	98,411
CRA mutual fund	901	917
Federal Home Loan Bank of Boston stock	1,397	1,713
Loans held-for-sale	2,721	2,790
Loans receivable, net	1,066,733	1,057,606
Accrued interest receivable	6,260	6,373
Cash surrender value of life insurance policies	27,738	21,182
Derivative financial instruments	18	4
Financial Liabilities
Demand (non-interest-bearing)	416,073	310,769
Demand (interest-bearing)	233,600	218,869
Money market	330,436	278,146
Savings and other	237,075	189,776
Certificates of deposit	119,716	132,875
Deposits	1,336,900	1,130,435
Repurchase agreements	11,430	7,116
FHLBB advances	7,714	12,786
Subordinated debt	24,409	10,027
Note payable	171	212
Finance lease liability	4,223	1,920
Accrued interest payable	49	43
Fair Value Inputs Level 1 S A L [Member]
Financial Assets
Cash and cash equivalents	175,335	93,162
Interest bearing time deposits with financial institutions	750	750
Securities available-for-sale
CRA mutual fund	901	917
Federal Home Loan Bank of Boston stock
Loans held-for-sale
Loans receivable, net
Accrued interest receivable
Cash surrender value of life insurance policies
Derivative financial instruments
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
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	202,396	98,411
CRA mutual fund
Federal Home Loan Bank of Boston stock	1,397	1,713
Loans held-for-sale
Loans receivable, net
Accrued interest receivable	6,260	6,373
Cash surrender value of life insurance policies	27,738	21,182
Derivative financial instruments	18	4
Financial Liabilities
Demand (non-interest-bearing)	416,073	310,769
Demand (interest-bearing)	233,600	218,869
Money market	330,436	278,146
Savings and other	237,075	189,776
Certificates of deposit	119,716	132,875
Deposits	1,336,900	1,130,435
Repurchase agreements	11,430	7,116
FHLBB advances	7,714	12,786
Subordinated debt	24,409	10,027
Note payable	171	212
Finance lease liability
Accrued interest payable	49	43
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	2,721	2,790
Loans receivable, net	1,066,733	1,057,606
Accrued interest receivable
Cash surrender value of life insurance policies
Derivative financial instruments
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	4,223	1,920
Accrued interest payable

Unconsolidated balance sheets o

Unconsolidated balance sheets of Salisbury Bancorp, Inc. (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Assets
Cash and due from banks	$ 6,404	$ 10,599
Other assets	5,527	3,423
Total Assets	1,529,184	1,293,660
Liabilities and Shareholders' Equity
Subordinated debt	24,474	9,883
Shareholders' equity	136,600	124,752	$ 113,655	$ 103,459
Total Liabilities and Shareholders' Equity	1,529,184	1,293,660
Parent Company [Member]
Assets
Cash and due from banks	6,412	1,968
Investment in bank subsidiary	154,292	132,407
Other assets	386	273
Total Assets	161,090	134,648
Liabilities and Shareholders' Equity
Subordinated debt	24,474	9,883
Other liabilities	16	13
Shareholders' equity	136,600	124,752
Total Liabilities and Shareholders' Equity	$ 161,090	$ 134,648

Statements of income of Salisbu

Statements of income of Salisbury Bancorp, Inc. (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Condensed Financial Statements, Captions [Line Items]
Net income	$ 16,473	$ 11,940	$ 11,136
Parent Company [Member]
Condensed Financial Statements, Captions [Line Items]
Dividends from subsidiary	3,994	3,787	3,546
Interest income	11	6	10
Interest expense	1,000	618	624
Non-interest expenses	574	495	417
Income before taxes and equity in undistributed net income of subsidiary	2,431	2,680	2,515
Income tax benefit	386	273	252
Income before equity in undistributed net income of subsidiary	2,817	2,953	2,767
Equity in undistributed net income of subsidiary	13,656	8,987	8,369
Net income	$ 16,473	$ 11,940	$ 11,136

Statements of cash flows of Sal

Statements of cash flows of Salisbury Bancorp, Inc. (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Condensed Financial Statements, Captions [Line Items]
Net income	$ 16,473	$ 11,940	$ 11,136
Adjustments to reconcile net income to net cash provided by operating activities:
Net cash provided by operating activities	18,048	13,803	14,330
Investing Activities
Net cash utilized by investing activities	(153,206)	(114,021)	(23,375)
Financing activities
Issuance of subordinated debt, net of issuance cost	24,418
Payoff of subordinated debt	(10,000)
Common stock dividends paid	(3,452)	(3,286)	(3,155)
Net cash provided (utilized) by financing activities	217,331	166,495	(22,515)
Parent Company [Member]
Condensed Financial Statements, Captions [Line Items]
Net income	16,473	11,940	11,136
Adjustments to reconcile net income to net cash provided by operating activities:
Equity in undistributed net income of subsidiary	(13,656)	(8,987)	(8,369)
Other	63	(25)	474
Net cash provided by operating activities	2,880	2,928	3,241
Investing Activities
Investment in bank	(9,433)
Net cash utilized by investing activities	(9,433)
Financing activities
Issuance of subordinated debt, net of issuance cost	24,418
Payoff of subordinated debt	(10,000)
Common stock dividends paid	(3,452)	(3,286)	(3,155)
Proceeds from issuance of common stock	31	53	82
Net cash provided (utilized) by financing activities	10,997	(3,233)	(3,073)
Net increase (decrease) in cash and cash equivalents	4,444	(305)	168
Cash and cash equivalents, beginning of period	1,968	2,273	2,105
Cash and cash equivalents, end of period	$ 6,412	$ 1,968	$ 2,273

Calculation of earnings per sha

Calculation of earnings per share (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Earnings Per Share [Abstract]
Net income applicable to common shareholders	$ 16,473	$ 11,940	$ 11,136
Less: Undistributed earnings allocated to participating securities	(248)	(165)	(160)
Net income allocated to common shareholders	16,225	11,775	10,976
Weighted average common shares issued	2,855	2,837	2,817
Less: Unvested restricted stock awards	(43)	(39)	(35)
Weighted average common shares outstanding used to calculate basic earnings per common share	2,812	2,798	2,782
Add: Dilutive effect of performance based restricted stock awards and stock options	24	8	12
Weighted average common shares outstanding used to calculate diluted earnings per common share	$ 2,836	$ 2,806	$ 2,794
Earnings per common share (basic)	$ 5.77	$ 4.21	$ 3.95
Earnings per common share (diluted)	$ 5.72	$ 4.20	$ 3.93

NOTE 26 _ SUBSEQUENT EVENTS (De

NOTE 26 – SUBSEQUENT EVENTS (Details Narrative) - USD ($) $ / shares in Units, $ in Thousands	1 Months Ended		12 Months Ended
	Feb. 28, 2022	Jan. 31, 2022	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	Feb. 25, 2022	Jan. 26, 2022
Subsequent Events [Abstract]
[custom:PretaxLossRecordedOnSaleOfAssets]		$ 144
[custom:QuarterlyDividendIncreaseApproved-0]							$ 0.01
Dividends Payable, Amount Per Share						$ 0.32
[custom:PerformancebasedRestrictedStockUnitsPursuantTo2017LongtermIncentivePlanGranted]	6,950		7,400	7,250	6,800
Stock Issued During Period, Shares, Restricted Stock Award, Net of Forfeitures	14,350		16,650	15,475	15,130
Stock Issued During Period, Value, Restricted Stock Award, Net of Forfeitures	$ 813		$ 750	$ 554	$ 601