---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-26-034602"
form_type: "8-K"
ticker: "BSPA"
cik: "0002094107"
company_name: "Ballston Spa Bancorp, Inc."
filed_at: "2026-03-25T23:59:59+00:00"
generated_at: "2026-05-15T09:07:47.833607+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.55
calibrated_materiality_score: 0.55
confidence: "high"
source: SEC EDGAR
---

# Ballston Spa Bancorp completes $26M subordinated notes offering at 7.375% for proposed merger

## Summary
- $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.

## SEC filing metadata
- accession: 0001104659-26-034602
- form_type: 8-K
- ticker: BSPA
- cik: 0002094107
- company_name: Ballston Spa Bancorp, Inc.
- filed_at: 2026-03-25T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.55
- calibrated_materiality_score: 0.55
- confidence: high
- sec_items: 1.01, 2.03, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/2094107/000110465926034602/0001104659-26-034602-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/2094107/000110465926034602/tm269754d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-26-034602
- JSON: https://secwatch.observer/filing/0001104659-26-034602.json
- Plain text: https://secwatch.observer/filing/0001104659-26-034602.txt

## Source-grounded claims
- claim_id: 0fcf5c91f21c14e25fa43a3dfdda538477c70d72
  claim: Ballston Spa Bancorp, Inc. incurred senior notes of $26.0 million at 7.375% maturing April 1, 2036.
  evidence_excerpt: the Company issued $26.0 million in aggregate principal amount of its 7.375% Fixed-to-Floating Rate Subordinated Notes due 2036
  evidence_url: https://www.sec.gov/Archives/edgar/data/2094107/000110465926034602/0001104659-26-034602-index.htm
- claim_id: 9e0612db176ca8013122f74024e74839a783e02a
  claim: 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).
  evidence_excerpt: 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
  evidence_url: https://www.sec.gov/Archives/edgar/data/2094107/000110465926034602/0001104659-26-034602-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.