FIG Has Advised On More Than $2.0 Billion In Whole Bank Transactions Nationwide Since 2015
ATLANTA, Jan. 13, 2017 — Salibsury Bank and Trust Company, the wholly owned subsidiary of Salisbury Bancorp, Inc. (NASDAQ:SAL) has announced a definitive agreement to acquire the New Paltz branch of Empire State Bank in New York, the wholly owned bank subsidiary of ES Bancshares, Inc. (OTC:ESBS).
To acquire the New Paltz branch in New York, Salibsury Bank and Trust Company will assume approximately $31 million in deposits and purchase approximately $6.8 milliion in branch-related loans.
FIG Partners served as financial advisor to Salisbury Bank and Trust Company. The lead banker in this transaction was Dan Flaherty, Vice President, Investment Banking.
Richard J. Cantele, President and CEO of Salibsury Bank and Trust Company, said, “The purchase of this branch is a strategic opportunity, which will enable our Riverside Division to reach new customers and better serve our existing customers in Ulster County, New York. This New Paltz branch will expand our capabilities to deliver financial products and services, including trust and wealth advisory services, to the people and businesses of Ulster County and nearby communities. This branch will be our second office west of the Hudson River and our seventh full service banking office in New York State.”
More information from Salisbury Bank and Trust Company is available here.
To learn more about FIG Partners, visit www.figpartners.com.