SIMSBURY, Conn.--(BUSINESS WIRE)--The Simsbury Bank & Trust Company, Inc., (“the Bank”) a subsidiary of SBT Bancorp, Inc. (OTC PINK: SBTB, CUSIP 78391C106) (“SBT Bancorp”), announced today that Michael L. Hammer has been elected to the Board of Directors of the Bank. Mr. Hammer was recommended to the Board of Directors by Lawrence Seidman, who controls approximately 7.4% of SBT Bancorp’s common stock through various entities affiliated with him. Mr. Hammer has been an analyst with Seidman and Associates, LLC since February 2008. Lawrence Seidman is the manager of Seidman and Associates, LLC, which invests in securities through private funds. In addition, since March 2014, Mr. Hammer has served as the Chief Compliance Officer and Portfolio Manager of Veteri Place Corporation, which is an affiliate of Seidman and Associates, LLC.
Since March 2008, Mr. Hammer has been an independent registered representative of Northeast Securities, Inc., which is a financial services firm serving institutional and individual clients. From 2009 to 2014, Mr. Hammer served as a member of the Advisory Board of Union Center National Bank, a community bank located in New Jersey that was merged into another New Jersey community bank in 2014.
The Bank is a Central Connecticut based independent, community bank for businesses and consumers. Simsbury Bank Home Loans is a division of the Bank serving the home financing needs of consumers. The Bank’s wholly-owned subsidiary, SBT Investment Services, Inc., offers securities and insurance products through LPL Financial and its affiliates, Member FINRA/SIPC. Simsbury Bank is wholly-owned by 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, Inc., 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.