Day Pitney Represents SBT Bancorp, Inc. and its subsidiary, The Simsbury Bank & Trust Company, in their Merger Agreement with Liberty Bank

Publisher: Day Pitney Press Release

April 1, 2019

On March 21, Liberty Bank, headquartered in Middletown, Connecticut and SBT Bancorp, Inc., headquartered in Simsbury, Connecticut (SBTB) announced that they have entered into a definitive agreement for the merger of SBT Bancorp, Inc. and The Simsbury Bank & Trust Company with and into Liberty Bank. Day Pitney LLP represented SBTB in connection with this transaction.

Under terms of the agreement, upon completion of the merger, each shareholder of SBT Bancorp, Inc. will receive $51.32 per share in cash, giving the transaction a value of approximately $71 million. The agreement has been unanimously approved by the Boards of Liberty Bank, SBT Bancorp, Inc. and The Simsbury Bank & Trust Company.

The Day Pitney team representing SBTB was led by Robert M. Taylor III and included David Doyle, Michael Rave and Christopher Rogers.

The press release can be viewed here.

Recommended

Negotiating with Fintechs – Beyond Due Diligence

On February 20, Michael Rave and Michael Dunne spoke at FinXTech R.O.D.E., a conference presented by Autobooks, Bank Director and Microsoft and held at the Advanced Technology Development Center in Atlanta, GA.

February 20, 2020

FinXTech R.O.D.E., Advanced Technology Development Center, Atlanta, GA

When Good Deals Go Bad – Pitfalls to Avoid During the Sale Process

On January 15, Brian Fischer spoke at "When Good Deals Go Bad – Pitfalls to Avoid During the Sale Process," an Exit Planning Exchange (XPX) program held at The Hartford Club in Hartford, CT.

January 15, 2020

Exit Planning Exchange (XPX), The Hartford Club, Hartford, CT

Federal Tax Institute of New England

October 24, 2019

Partners Edward Krzanowski, Tiana Gianopulos and Daniel Gottfried spoke at the 2019 Federal Tax Institute of New England, a CLE program presented by the Estates and Probate Section and the Tax Section of the Connecticut Bar Association and held in Portland, CT.

October 29, 2019

Federal Tax Institute of New England, Portland CT

Public & Private Capital Raising: How To Fund Your Bank for Growth and/or Change

On January 27, Michael Rave will be speaking on "Public & Private Capital Raising: How To Fund Your Bank for Growth and/or Change" at Bank Director's annual conference, Acquire or Be Acquired, in Phoenix, AZ.

January 27, 2019

Acquire or Be Acquired, Bank Director's Annual Conference, Phoenix, AZ

Defining Success from a Legal Perspective – How to Best Structure the Transaction to Meet the Owner's Objectives while Providing Significant Legal Protection

Brian Fischer spoke on "Defining Success from a Legal Perspective – How to Best Structure the Transaction to Meet the Owner's Objectives while Providing Significant Legal Protection," at an Exit Planning Exchange (XPX) Hartford program.

January 16, 2019

Exit Planning Exchange (XPX), Hartford, CT

Day Pitney Represents Pula Capital Management LP in Strategic Investment by Felton Group, LLC

December 3, 2019

Day Pitney LLP represented Pula Capital Management LP (Pula), a newly formed investment manager based in Virginia, in connection with (i) the acquisition of a minority ownership interest in Pula by Felton Group, LLC (Felton Group), and (ii) an investment by Felton Group in Pula Capital Fund, LP, a newly formed fund managed by Pula that intends to employ novel mathematical techniques and a proprietary, systematic predictive model to trade a diversified long-short portfolio of liquid U.S. equities.

Day Pitney Receives Top Rankings in U.S. News – Best Lawyers “Best Law Firms”

November 12, 2019

Day Pitney Press Release

Firm Ranked Tier 1 Nationally for Energy Law and Trusts and Estates Law

Day Pitney Represents Planet Fitness, Inc. in its Expansion to Australia

November 8, 2019

Day Pitney Press Release

Day Pitney Represents Valley National Bancorp in its Proposed Acquisition of Oritani Financial Corp.

June 26, 2019

Day Pitney Press Release

Day Pitney Represents 1st Constitution Bancorp in its Acquisition of Shore Community Bank

June 24, 2019

Day Pitney LLP represented 1st Constitution Bancorp in connection with its merger agreement with Shore Community Bank, pursuant to which 1st Constitution will acquire Shore in a stock and cash transaction valued at $16.54 per share, or approximately $53.1 million in total consideration.