Salisbury Bancorp Inc.

Salisbury Bank & Trust Co.'s parent posted lower first-quarter net profit stemming from higher legal expenses and a bill to hire a new finance chief, but new loans grew in the period. The northwest Connecticut lender also declared a quarterly dividend.

Salisbury Bancorp has named Donald E. White as its new finance chief and executive vice president of the northwest Connecticut lender.

B. Ian McMahon, finance chief at Salisbury Bancorp Inc. the past 3 ½ years, is leaving the northwest Connecticut lender, effective March 1, to pursue another career opportunity, the bank says.