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Seidman discloses 7.40% stake in Connecticut's SBT

Lawrence Seidman and affiliated investment vehicles beneficially own an aggregate 101,633 SBT Bancorp Inc. shares, or a 7.40% stake in the Weatogue, Conn.-based company.

The group bought a total of 88,504 shares on Oct. 3 at $25.051 each. Seidman, a known activist investor, spoke with SBT President and CEO Martin Geitz the following day. The two plan to meet in mid-November to discuss maximizing shareholder value.