Ballston Spa Bancorp, Inc. (BSPA): debt financing — Ballston Spa Bancorp completes $26M subordinated notes offering at 7.375% for proposed merger

Ballston Spa Bancorp, Inc.

$26M aggregate principal, 7.375% fixed through 2031, then SOFR+378bps floating.
Matures April 1, 2036; callable on/after April 1, 2031 subject to regulatory approval.
Proceeds primarily to support proposed merger with NBC Bancorp (parent of National Bank of Coxsackie).
Notes are unsecured, subordinated obligations qualifying as Tier 2 capital; not convertible.

item 1.01 item 2.03 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

Ballston Spa Bancorp, Inc. incurred senior notes of $26.0 million at 7.375% maturing April 1, 2036.

Instrument: senior notes
Principal: $26.0 million
Rate: 7.375%
Maturity: April 1, 2036
Event: incurrence

Exact text from the filing

the Company issued $26.0 million in aggregate principal amount of its 7.375% Fixed-to-Floating Rate Subordinated Notes due 2036

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Ballston Spa Bancorp, Inc. entered into Subordinated Note Purchase Agreements with certain qualified institutional buyers and institutional accredited investors valued at $26.0 million (effective 2026-03-25).

Action: entry
Agreement: notes offering
Counterparty: certain qualified institutional buyers and institutional accredited investors
Value: $26.0 million
Effective: 2026-03-25

Exact text from the filing

On March 25, 2026, Ballston Spa Bancorp, Inc. (the "Company") entered into Subordinated Note Purchase Agreements (collectively, the "Subordinated Note Purchase Agreements") with certain qualified institutional buyers and institutional accredited investors (collectively, the "Subordinated Note Purchasers") pursuant to which the Company issued $26.0 million in aggregate principal amount of its 7.375% Fixed-to-Floating Rate Subordinated Notes due 2036

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Ballston Spa Bancorp, Inc. filing history →

Source: SEC EDGAR

accession 0001104659-26-034602

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