Ballston Spa Bancorp, Inc. Completes $26 Million Subordinated Debt Raise
Ballston Spa Bancorp, Inc. (OTCQX: BSPA), holding company for Ballston Spa National Bank (collectively “BSNB”), today announced the completion of a $26 million subordinated notes offering to certain qualified institutional buyers and accredited investors. The private placement of notes will support the previously announced proposed merger with NBC Bancorp, Inc. (OTCID: NCXS), holding company for The National Bank of Coxsackie (collectively “NBC”). The majority of the net proceeds of the offering being contributed to BSNB to support the bank merger and to provide requisite capital for general corporate purposes in support of the ongoing operations of the combined bank.
Ballston Spa Bancorp, Inc. and NBC Bancorp, Inc. Receive Shareholder Approvals to Complete Pending Merger; Announce Anticipated Closing Date
Ballston Spa Bancorp, Inc. (OTCQX: BSPA), holding company for Ballston Spa National Bank (collectively “BSNB”), and NBC Bancorp, Inc. (OTCID: NCXS), holding company for The National Bank of Coxsackie (collectively “NBC”), today jointly announced that the pending strategic merger transaction received shareholder approval at each of BSNB’s and NBC’s special meeting of shareholders held on March 23, 2026.
Ballston Spa Bancorp, Inc. and NBC Bancorp, Inc. Receive Regulatory Approvals to Complete Pending Merger
Ballston Spa Bancorp, Inc. (OTCID: BSPA), holding company for Ballston Spa National Bank (collectively “BSNB”), and NBC Bancorp, Inc. (OTCID: NCXS), holding company for The National Bank of Coxsackie (collectively “NBC”), today jointly announced that they have received all requisite regulatory approvals to complete their pending merger and the merger of their subsidiary banks.
