Salisbury Bancorp : Investor Presentation Q4 2021

1

4Q 2021

Investor

Presentation

NASDAQ: SAL

Investor Information	2
Richard J. Cantele, Jr.	Peter Albero	Shelly L. Humeston
President	Executive Vice President	Senior Vice President
Chief Executive Officer	Chief Financial Officer	Secretary
[e-mail]	[e-mail]	[e-mail]
860-453-3430	860-453-3440	860-453-3432

Forward Looking Statements

This presentation may contain statements relating to Salisbury's and the Bank's future results that are considered "forward- looking" statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are based on the beliefs and expectations of management as well as the assumptions and estimates made by management using information currently available to management. Since these statements reflect the views of management concerning future events, these statements involve risks, uncertainties and assumptions, including among others: changes in market interest rates and general and regional economic conditions; changes in laws and regulations; changes in accounting principles; and the quality or composition of the loan and investment portfolios, technological changes and cybersecurity matters, and other factors that may be described in Salisbury's quarterly reports on Form 10-Q and its annual report on Form 10-K, which are available at the Securities and Exchange Commission's website (www.sec.gov) and to which reference is hereby made. Forward-looking statements made by Salisbury in this presentation speak only as of the date they are made. Events or other facts that could cause Salisbury's actual results to differ may arise from time to time and Salisbury cannot predict all such events and factors. Salisbury undertakes no obligation to publicly update any forward-looking statement unless as may be required by law.

Unaudited data

All of the financial data presented herein is unaudited.

Annualized, pro forma, projected and estimated numbers are used for illustrative purpose only, are not forecasts and may not reflect actual results.

Corporate Overview	3

• Full service community banking institution offering consumer and business banking products and services as well as trust and wealth advisory services with roots dating back to 1848
• Operating footprint includes 14 banking locations in Litchfield County, CT, Berkshire County, MA, and Dutchess County, Orange County, and Ulster County, NY ("Operating Counties")
• Franchise extends to within 50 miles of New York City
• 20 plus year history of dividend payments
• Seasoned and experienced management team

Key Statistics		Branch Footprint
(as of December 31, 2021)
Total Assets ($000)	1,529,184
Net Loans ($000)	1,066,750
Total Deposits ($000)	1,336,193
Total Shareholder's Equity ($000)	136,600
Tangible Book Value per Common Share ($)	42.76
Wealth Assets Under Administration ($000)	1,083,152
Net Income - ($000)	16,473
FTEs	177
ROAA (%)	1.15
Gross Loans / Deposits (%)	80.8
ALLL / Gross Loans, ex PPP (%)	1.23
Total RBC Capital Ratio (%)	14.08
NIM, ex PPP (%)	3.01

Efficiency Ratio (%)

60.1

• Retail / Business Deposits
• Electronic Banking Services
• • Mobile
  • Debit/Credit Card
  • Remote Capture
• Cash Management

• Investment Mgmt.
• Trust & Estate Services
• Financial Planning
• Private Banking

SAL's Core Businesses

Retail /	Business
Business
Lending
Banking

Trust &	Retail
Wealth
Lending
Advisory

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• Business Loans
• Commercial Mortgages
• Lines of Credit
• Gov't Guaranteed Loans
• Letters of Credit

• Mortgage Loans
• Home Equity Loans
• Consumer Loans
• Construction Loans

Market Demographics

• Litchfield County's prestigious private and public school systems and Berkshire County's cultural offerings attract affluent individuals
• Dutchess County's median household income is 15% higher than the NY state median
• Orange County's median household income is 15% higher than the NY state median
• New Paltz, NY branch provides new opportunities in Ulster County

	Deposits by County1
Orange, NY	Ulster, NY 5%
12%

Litchfield,

CT

37%

Dutchess, NY

36%

Berkshire,

MA 10%

	Deposits by State1	5
$674 Million	$473 Million

NY	CT
37%
53%
	MA
	10%
	$125 Million

County Market Share1

County	Number of	Market
Branches	Share
Litchfield, CT	4	8%
Berkshire, MA	3	2%
Dutchess, NY	5	5%
Orange, NY	1	1%
Ulster, NY	1	1%

1 Excludes Broker deposits, CDARS one-ways buys, balances held in Branch Administration and Trust & Wealth.

Source: S&P Global and Company data.