Ballston Spa National Bank Mortgage Rates, Fees & Info

Ballston Spa, NY

LEI: 549300QY4UCP33T94N09

Tax ID: 14-0486153

2021 Data | 2020 Data | 2019 Data | 2018 Data


Overview

Ballston Spa National Bank is a smaller bank specializing in Home Purchase and Cash Out Refi loans. Ballston Spa National Bank has a high proportion of conventional loans. Their top markets include Albany, Glens Falls, Gloversville, Philadelphia, and Hudson among others. Ballston Spa National Bank has an above average approval rate for mortages when compared nationally. They have a below average pick rate when compared to the same sample of other lendors.


Originations

444

Origination Dollar Volume (All Markets)

$118,310,000

Employee count

115

Top Markets

Market Originations Total Value Average Loan Average Fees Average Rate
ALBANY-SCHENECTADY-TROY, NY (FHA|USDA|VA) 359 $104,075,000 $289,903 $0 0.00%
GLENS FALLS, NY (FHA|USDA|VA) 17 $7,755,000 $456,176 $0 0.00%
Gloversville, NY (FHA|USDA|VA) 11 $1,445,000 $131,364 $0 0.00%
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) 11 $915,000 $83,182 $0 0.00%
Outside of Metro Areas 4 $590,000 $147,500 $0 0.00%
Hudson, NY (FHA|USDA|VA) 2 $420,000 $210,000 $0 0.00%
POUGHKEEPSIE-NEWBURGH-MIDDLETOWN, NY (FHA|USDA|VA) 7 $395,000 $56,429 $0 0.00%
CHARLESTON-NORTH CHARLESTON, SC (FHA|USDA|VA) 1 $355,000 $355,000 $0 0.00%
GREENVILLE-ANDERSON, SC (FHA|USDA|VA) 1 $305,000 $305,000 $0 0.00%
Oneonta, NY (FHA|USDA|VA) 1 $275,000 $275,000 $0 0.00%
PITTSBURGH, PA (FHA|USDA|VA) 4 $180,000 $45,000 $0 0.00%
DOVER, DE (FHA|USDA|VA) 2 $170,000 $85,000 $0 0.00%
READING, PA (FHA|USDA|VA) 2 $170,000 $85,000 $0 0.00%
ALLENTOWN-BETHLEHEM-EASTON, PA-NJ (FHA|USDA|VA) 2 $140,000 $70,000 $0 0.00%
ROCHESTER, NY (FHA|USDA|VA) 2 $130,000 $65,000 $0 0.00%
YORK-HANOVER, PA (FHA|USDA|VA) 2 $130,000 $65,000 $0 0.00%
LANCASTER, PA (FHA|USDA|VA) 2 $120,000 $60,000 $0 0.00%
Amsterdam, NY (FHA|USDA|VA) 2 $110,000 $55,000 $0 0.00%
MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) 2 $100,000 $50,000 $0 0.00%
GETTYSBURG, PA (FHA|USDA|VA) 2 $100,000 $50,000 $0 0.00%
KINGSTON, NY (FHA|USDA|VA) 2 $90,000 $45,000 $0 0.00%
New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) 1 $85,000 $85,000 $0 0.00%
BUFFALO-CHEEKTOWAGA, NY (FHA|USDA|VA) 1 $85,000 $85,000 $0 0.00%
SALISBURY, MD-DE (FHA|USDA|VA) 1 $55,000 $55,000 $0 0.00%
Batavia, NY (FHA|USDA|VA) 1 $45,000 $45,000 $0 0.00%
Corning, NY (FHA|USDA|VA) 1 $35,000 $35,000 $0 0.00%
PITTSFIELD, MA (FHA|USDA|VA) 1 $35,000 $35,000 $0 0.00%

Ballston Spa National Bank's top markets include Albany, Glens Falls, Gloversville, Philadelphia, and Hudson among others.

Product Mix

Loan Type Originations Total Value Average Loan Average Fees Average Rate
Conventional 444 $118,310,000 $266,464 $0 0.00%

For the 2021 period, Ballston Spa National Bank's most frequently originated loan type of loans were Conventional, with 444 originations.

Loan Reason

Loan Reason Originations Total Value Average Loan Average Fees Average Rate
Home Purchase 203 $58,925,000 $290,271 $0 0.00%
Cash Out Refi 189 $42,845,000 $226,693 $0 0.00%
Refi 51 $12,785,000 $250,686 $0 0.00%
Home Improvement 1 $3,755,000 $3,755,000 $0 0.00%

For the 2021, Ballston Spa National Bank's most frequently cited loan purpose of loans were Home Purchase, with 203 originations. The 2nd most popular reason of loans were Cash Out Refi, with 189 originations.

Loan Duration/Length

Loan Length Originations Total Value Average Loan Average Fees Average Rate
Other 444 $118,310,000 $266,464 $0 0.00%

For the 2021, Ballston Spa National Bank's most frequently cited loan length of loans were Other, with 444 originations.

Loan Sizing

Loan Size Originations Total Value Average Loan Average Fees Average Rate
$200k-400k 157 $42,705,000 $272,006 $0 0.00%
$100k-200k 153 $22,995,000 $150,294 $0 0.00%
$100,000 or less 98 $5,800,000 $59,184 $0 0.00%
$400k-600k 22 $10,150,000 $461,364 $0 0.00%
$1MM+ 10 $33,690,000 $3,369,000 $0 0.00%
$600k-1MM 4 $2,970,000 $742,500 $0 0.00%

2021 saw Ballston Spa National Bank place emphasis on $200k-400k loans with 157 originations, totaling $42,705,000 in origination value.

Applicant Income

Applicant Income Originations Total Value Average Loan Average Fees Average Rate
$100k-150k 115 $23,025,000 $200,217 $0 0.00%
$50k-75k 86 $13,450,000 $156,395 $0 0.00%
$150k-250k 67 $18,935,000 $282,612 $0 0.00%
$75k-100k 66 $10,710,000 $162,273 $0 0.00%
$50k or less 47 $4,475,000 $95,213 $0 0.00%
$250k+ 27 $7,525,000 $278,704 $0 0.00%

Ballston Spa National Bank lent most frequently to those with incomes in the $100k-150k range, with 115 originations. The second most popular income band? $50k-75k, with 86 originations.

Applicant Debt to Income Ratio

DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
Exempt% 444 $118,310,000 $266,464 $0 0.00%

Ballston Spa National Bank lent most frequently to those with DTI ratios of Exempt%, with 444 originations.

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
White 358 $67,430,000 $188,352 $0 0.00%
Not applicable 27 $38,035,000 $1,408,704 $0 0.00%
Not provided 37 $8,275,000 $223,649 $0 0.00%
Asian 13 $3,275,000 $251,923 $0 0.00%
Black 7 $965,000 $137,857 $0 0.00%
Other Asian 1 $265,000 $265,000 $0 0.00%
American Indian 1 $65,000 $65,000 $0 0.00%

Approval Rates

Total approvals of all applications
96.43%

Ballston Spa National Bank has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.

Pick Rate

Approvals leading to origination
74.59%

Ballston Spa National Bank has a below average pick rate.

Points and Fees

Points Originations Total Value Average Loan
Exempt 444 $118,310,000 $266,464

Occupancy Type Mix

Dwelling Type Originations Total Value Average Loan
444 $118,310,000 $266,464

Bank Details

Branches

Bank Name Branch Branch Type Deposits (000's)
Ballston Spa National Bank Route 9 Wilton, NY 12866 Full Service B&M $14,417
Ballston Spa National Bank 1207 Troy Schenectady Rd Latham, NY 12110 Full Service B&M $15,766
Ballston Spa National Bank 124 Dunning Street Malta, NY 12020 Full Service B&M $40,298
Ballston Spa National Bank 13 Maple Road Voorheesville, NY 12186 Full Service B&M $19,004
Ballston Spa National Bank 1714 Route 9 Clifton Park, NY 12065 Full Service B&M $38,582
Ballston Spa National Bank 1973 Western Ave Albany, NY 12203 Full Service B&M $34,854
Ballston Spa National Bank 3060 Route 9n Greenfield Center, NY 12833 Full Service B&M $27,785
Ballston Spa National Bank 344 Rowland Street Milton, NY 12020 Full Service B&M $47,288
Ballston Spa National Bank 428 Hudson Ave Stillwater, NY 12170 Full Service B&M $54,533
Ballston Spa National Bank 5091 Sacandaga Road Galway, NY 12074 Full Service B&M $50,663
Ballston Spa National Bank 770 Saratoga Road Burnt Hills, NY 12027 Full Service B&M $81,408
Ballston Spa National Bank 87 Front Street Ballston Spa, NY 12020 Full Service B&M $162,276
Ballston Spa National Bank 990 State Route 67 Ballston Spa, NY 12020 Full Service B&M $28,421

For 2021, Ballston Spa National Bank had 13 branches.

Yearly Performance Overview

Bank Income

Item Value (in 000's)
Total interest income $22,888
Net interest income $21,626
Total noninterest income $4,448
Gross Fiduciary activities income $988
Service charges on deposit accounts $664
Trading account gains and fees $0
Additional Noninterest Income $2,796
Pre-tax net operating income $6,631
Securities gains (or losses, -) $0
Income before extraordinary items $5,074
Discontinued Operations (Extraordinary gains, net) $0
Net income of bank and minority interests $5,074
Minority interest net income $0
Net income $5,074
Sale, conversion, retirement of capital stock, net $0
Net operating income $5,074

Ballston Spa National Bank's gross interest income from loans was $22,888,000.
Ballston Spa National Bank's net interest income from loans was $21,626,000.
Ballston Spa National Bank's fee based income from loans was $664,000.
Ballston Spa National Bank's net income from loans was $5,074,000.

Bank Expenses

Item Value (in 000's)
Total interest expense $1,262
Provision for credit losses $756
Total noninterest expense $18,687
Salaries and employee benefits $11,363
Premises and equipment expense $1,712
Additional noninterest expense $5,612
Applicable income taxes $1,557
Net charge-offs $50
Cash dividends $1,399

Ballston Spa National Bank's interest expense for loans was $1,262,000.
Ballston Spa National Bank's payroll and benefits expense were $11,363,000.
Ballston Spa National Bank's property, plant and equipment expenses $1,712,000.

Loan Performance

Type of Loan % of Loans Noncurrent (30+ days, end of period snapshot)
All loans 0.0%
Real Estate loans 0.0%
Construction & Land Development loans 0.0%
Nonfarm, nonresidential loans 0.0%
Multifamily residential loans 0.0%
1-4 family residential loans 0.0%
HELOC loans 0.0%
All other family 0.0%
Commercial & industrial loans 0.0%
Personal loans 0.0%
Credit card loans 0.0%
Other individual loans 0.0%
Auto loans 1.0%
Other consumer loans 0.0%
Unsecured commercial real estate loans 0.0%

Deposits

Type Value (in 000's)
Total deposits $684,827
Deposits held in domestic offices $684,827
Deposits by Individuals, partnerships, and corporations $523,911
Deposits by U.S. Government $6
Deposits by States and political subdivisions in the U.S. $160,910
Deposits by Commercial banks and other depository institutions in U.S. $0
Deposits by Banks in foreign countries $0
Deposits by Foreign governments and official institutions $0
Transaction accounts $263,228
Demand deposits $161,877
Nontransaction accounts $421,599
Money market deposit accounts (MMDAs) $246,606
Other savings deposits (excluding MMDAs) $114,937
Total time deposits $60,055
Total time and savings deposits $522,950
Noninterest-bearing deposits $161,877
Interest-bearing deposits $522,950
Retail deposits $652,569
IRAs and Keogh plan accounts $3,749
Brokered deposits $19,995
Deposits held in foreign offices $0

Assets

Asset Value (in 000's)
Total Assets $765,893
Cash & Balances due from depository institutions $140,572
Interest-bearing balances $136,444
Total securities $70,889
Federal funds sold & reverse repurchase $800
Net loans and leases $524,940
Loan and leases loss allowance $8,081
Trading account assets $0
Bank premises and fixed assets $9,126
Other real estate owned $0
Goodwill and other intangibles $1,947
All other assets $17,619

Liabilities

Liabilities Value (in 000's)
Total liabilities and capital $765,893
Total Liabilities $705,096
Total deposits $684,827
Interest-bearing deposits $522,950
Deposits held in domestic offices $684,827
% insured (estimated) $62
Federal funds purchased and repurchase agreements $0
Trading liabilities $0
Other borrowed funds $10,000
Subordinated debt $0
All other liabilities $10,269

Issued Loan Types

Type Value (in 000's)
Net loans and leases $524,940
Loan and leases loss allowance $8,081
Total loans and leases (domestic) $533,021
All real estate loans $465,960
Real estate loans in domestic offices $465,960
Construction and development loans $28,332
Residential 1-4 family construction $6,069
Other construction, all land development and other land $22,263
Loans secured by nonfarm nonresidential properties $140,971
Nonfarm nonresidential secured by owner-occupied properties $42,022
Commercial real estate & other non-farm, non-residential $98,949
Multifamily residential real estate $58,931
1-4 family residential loans $237,726
Farmland loans $0
Loans held in foreign offices $0
Farm loans $0
Commercial and industrial loans $32,223
To non-U.S. addressees $0
Loans to individuals $29,581
Credit card loans $0
Related Plans $279
Consumer Auto Loans $3,484
Other loans to individuals $25,818
All other loans & leases $5,808
Loans to foreign governments and official institutions $0
Other loans $1,521
Loans to depository institutions and acceptances of other banks $0
Loans not secured by real estate $1,935
Loans secured by real estate to non-U.S. addressees $0
Restructured Loans & leases $451
Non 1-4 family restructured loans & leases $0
Total loans and leases (foreign) $0

Ballston Spa National Bank had $524,940,000 of loans outstanding in 2021. $465,960,000 of loans were in real estate loans. $28,332,000 of loans were in development loans. $58,931,000 of loans were in multifamily mortgage loans. $237,726,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $0 of loans were in credit card loans. $3,484,000 of loans were in the auto loan category.

Small Business Loans

Categorization # of Loans in Category $ amount of loans (in 000's) Average $/loan
Nonfarm, nonresidential loans - <$1MM 104 $29,709 $285,663
Nonfarm, nonresidential loans - <$100k 6 $278 $46,333
Nonfarm, nonresidential loans - $100-250k 39 $5,600 $143,590
Nonfarm, nonresidential loans - $250k-1MM 59 $23,831 $403,915
Commercial & Industrial, US addressed loans - <$1MM 445 $26,256 $59,002
Commercial & Industrial, US addressed loans - <$100k 286 $5,774 $20,189
Commercial & Industrial, US addressed loans - $100-250k 102 $8,971 $87,951
Commercial & Industrial, US addressed loans - $250k-1MM 57 $11,511 $201,947