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SBT Bancorp Announces Shareholder Approval of Simsbury Bank Merger With Liberty Bank

Company Release - 6/27/2019 11:15 AM ET

SIMSBURY, Conn.--(BUSINESS WIRE)-- The Board of Directors of SBT Bancorp, Inc., (OTC Pink: SBTB, CUSIP 78391C106), the holding company of Simsbury Bank, is pleased to announce that at the special meeting of shareholders held on June 26, 2019, that shareholders overwhelmingly approved the Agreement and Plan of Merger, dated as of March 20, 2019, by and among Liberty Bank and SBT Bancorp and The Simsbury Bank & Trust Company, Inc. The proposed merger is currently before the applicable regulators for their approval.

Robert J. Bogino, Chairman of the SBT Bancorp and Simsbury Bank boards, said, “This favorable shareholder vote is a critical milestone on the way to the finalization of the merger with Liberty Bank. The shareholders clearly agree with the Board that this strategic action is in the best long term interests of shareholders, customers, the community and most of our employees.” Martin J. Geitz, President and CEO, commented, “Liberty Bank shares Simsbury Bank’s values. Most important among them are a commitment to customers, community and employees. We anticipate that our stakeholders will continue to enjoy the same commitment from Liberty Bank that they have come to appreciate from Simsbury Bank.”

Simsbury Bank is an independent, community bank for consumers and businesses based in Connecticut. Simsbury Bank Home Loans is a division of Simsbury Bank serving the home financing needs of consumers throughout Southern New England. Simsbury Bank is wholly-owned by publicly traded SBT Bancorp, Inc., whose stock is traded on the OTC Pink marketplace under the ticker symbol of SBTB. For more information, visit www.simsburybank.com.

Certain statements in this press release, including statements regarding the intent, belief or current expectations of SBT Bancorp, Inc., The Simsbury Bank & Trust Company, or their directors or officers, are “forward-looking” statements (as such term is defined in the Private Securities Litigation Reform Act of 1995). Because such statements are subject to risks and uncertainties, actual results may differ materially from those expressed or implied by such forward-looking statements.

Martin J. Geitz, CEO
SBT Bancorp, Inc.
(860) 408-5493
(860) 408-4679 (fax)
mgeitz@simsburybank.com

Source: SBT Bancorp, Inc.

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