Liberty Bank entered into a definitive agreement to acquire SBT Bancorp, Inc. (OTCPK:SBTB) for $71.9 million on March 20, 2019. Under terms of the agreement, upon completion of the merger, each shareholder of SBT Bancorp, Inc. will receive $51.32 per share in cash. As part of agreement, Liberty Bank will also acquire The Simsbury Bank & Trust Company, subsidiary of SBT Bancorp. The transaction is subject to approval by the shareholders of SBT Bancorp, Inc., as well as customary regulatory approvals, including the State of Connecticut Department of Banking and the Federal Deposit Insurance Corporation. The agreement has been unanimously approved by the Boards of Liberty Bank, SBT Bancorp, Inc. and The Simsbury Bank & Trust Company. The shareholders of SBT Bancorp approved the agreement and plan of merger at the special meeting of shareholders held on June 26, 2019. The transaction is expected to close in October of 2019. Cranmore, FitzGerald & Meaney acted as legal advisor to Liberty Bank. Piper Jaffray Companies acted as financial advisor and Robert M. Taylor III, David Doyle and Michael Rave of Day Pitney LLP acted as legal advisor to SBT Bancorp. Liberty Bank completed the acquisition of SBT Bancorp, Inc. (OTCPK:SBTB) on October 11, 2019. As part of the acquisition, SBT Bancorp’s five branch offices will operate as Liberty Bank offices and SBT Bancorp has been merged into Liberty Bank.