Stockholders in the parent of Simsbury Bank & Trust moved a step closer to merging with Middletown’s Liberty Bank with their vote approving the $71 million combination.
Robert G. Bogino, board chair of parent SBT Bancorp Inc., said Thursday SBT stockholders overwhelmingly approved on Wednesday merging their $480 million-asset community lender into Liberty, a $5.1 billion-asset community bank owned by its depositors.
Liberty will pay $51.32 for each share in SBT. Boards of both companies previously approved the merger.
The deal, announced in March, still needs applicable regulatory approval, to close.
