Merger Costs Drive Q2 Loss, Yet Assets Surge 47% at Ballston Spa Bancorp
BSPA has more than doubled off its 52-week low of $39.25 on light trading volume (0.2× avg).
Summary
Ballston Spa Bancorp reported a Q2 net loss of $711 thousand due to merger costs, while total assets surged 47% to $1.36 billion following the NBC Bancorp merger.
Key Events · Earnings and Guidance · BSPA
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Q2 Net Loss on Merger Costs
Net loss of $711 thousand for Q2 2026, compared to net income of $1.235 million in Q2 2025. The loss was driven by $3.9 million in merger expenses related to the NBC Bancorp acquisition.
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Balance Sheet Expansion
Total assets increased 46.95% to $1.36 billion, and total deposits increased 56.81% to $1.20 billion, reflecting the NBC merger completed April 1, 2026.
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Credit Quality Deterioration
Non-performing loans increased to $2.1 million from $660 thousand at year-end 2025. Substandard loans increased to $17.2 million from $2.2 million, reflecting acquired loan portfolio risk.
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Capital Levels Remain Strong
The bank remains well capitalized, with Tier 1 capital ratio of 8.74% and total risk-based capital ratio of 14.66% at June 30, 2026.
Analysis · BSPA · Finance
The first full quarter following the NBC Bancorp merger reveals a net loss of $711 thousand, driven by $3.9 million in merger expenses. The balance sheet expanded dramatically, with total assets up 47% to $1.36 billion and deposits up 57% to $1.20 billion. Credit quality metrics deteriorated, with non-performing loans tripling to $2.1 million and substandard loans jumping to $17.2 million from $2.2 million. While the loss is expected and merger-related, the scale of the balance sheet growth and the credit quality shift are material for investors assessing the combined entity.
How filings like this one have moved
In the 30 days to Oct 3, 2026, 28.9% of the 1666 measured filings Wiseek scored 7 moved their stock by 5% or more by the next session's close. The median move was -0.57%. These are measured outcomes after filings of this importance, not a forecast for this one.
Measured one observation per ticker per day, after exclusions. Current figures: Filing Impact Tracker · open dataset
At the time of this filing, BSPA was trading at $82.92 on OTC in the Finance sector, with a market capitalization of approximately $93.3M. The 52-week trading range was $39.25 to $82.92. This filing was assessed with negative market sentiment and an importance score of 7 out of 10.