secwatch.observer — SEC 8-K summary
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Issuer:     Ballston Spa Bancorp, Inc. (BSPA)
CIK:        0002094107
Form:       8-K
Filed at:   2026-03-25T23:59:59+00:00
Accession:  0001104659-26-034602
Event type: debt
Sentiment:  neutral
Materiality: 0.55
Item codes: 1.01, 2.03, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/2094107/000110465926034602/0001104659-26-034602-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/2094107/000110465926034602/tm269754d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-26-034602

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer