Ballston Spa Bancorp Inc (BSPA) is a community banking company that accepts deposits and originates loans across its local market area. It earns money primarily through net interest income, the spread between interest collected on loans and investment securities and interest paid on deposits and borrowings, supplemented by non-interest income from service charges, trust and investment services, debit card interchange, gain on loan sales, and bank-owned life insurance earnings. The loan portfolio spans residential real estate, home equity lines of credit (HELOCs), commercial real estate, commercial and industrial, and consumer categories, with a total allowance for credit losses of $8.9 million as of March 31, 2026. Deposits as of March 31, 2026 included $144.1 million from local municipal relationships and $60.4 million of brokered deposits. The bank funds itself through customer deposits, Federal Home Loan Bank advances, junior subordinated debentures, and has board authorization to borrow up to $3.0 million from the Federal Reserve Bank of New York, with no outstanding balance at March 31, 2026.

Revenue model

Net interest income from loans and investment securities, minus interest paid on deposits and borrowings. Non-interest income includes service charges on deposit accounts, trust and investment services fees, gain on sale and servicing of loans, debit card interchange income, and earnings on bank-owned life insurance.

Products and services

Deposit products: non-interest-bearing demand deposits (checking accounts), NOW accounts, savings accounts, money market accounts, certificates of deposit, business checking for small businesses, online bill payment. Loan products: residential real estate loans, HELOCs, commercial real estate loans, commercial and industrial loans, consumer loans. Additional services: trust and investment services, loan origination and servicing.

Customers and end markets

Retail depositors and borrowers within Ballston Spa's local market area. Local municipal entities holding $144.1 million in deposit accounts as of March 31, 2026. Small businesses served through business banking deposit products. Brokered deposit sources representing $60.4 million as of March 31, 2026.

Value-chain role

Community bank acting as deposit gatherer and direct lender. Originates and holds loans on balance sheet across residential, commercial, and consumer categories. Uses an investment securities portfolio for asset-liability and interest rate risk management.

Geographic exposure

Operates within a defined local market area. The filing does not specify the exact geographic region beyond the Ballston Spa market area.

Source: SEC 10-Q, filed 2026-05-14

Industry: State Commercial Banks