Ballston Spa National Bank Mortgage Rates, Fees & Info

Ballston Spa, NY

LEI: 549300QY4UCP33T94N09

Tax ID: 14-0486153

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Mortgage Data

Bank Data

Review & 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 by origination volume include: Albany, Glens Falls, Gloversville, Utica, and Poughkeepsie among others. We have data for 26 markets. (Some data included below & more in-depth data is available with an active subscription.)

Ballston Spa National Bank has an above average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders.

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Originations

293

Origination Dollar Volume (All Markets)

$51,225,000

Employee count

120

Top Markets

Zoom/scroll map to see bank's per metro statistics. Subscribers can configure state/metro/county granularity, assorted fields and quantity of results. This map shows top 10 markets in the map viewport, as defined by descending origination volume.

Market Originations Total Value Average Loan Average Fees Average Rate
ALBANY-SCHENECTADY-TROY, NY (FHA|USDA|VA) 216 $42,470,000 $196,620 $0 0.00%
GLENS FALLS, NY (FHA|USDA|VA) 10 $2,560,000 $256,000 $0 0.00%
Gloversville, NY (FHA|USDA|VA) 12 $1,540,000 $128,333 $0 0.00%
UTICA-ROME, NY (FHA|USDA|VA) 2 $610,000 $305,000 $0 0.00%
POUGHKEEPSIE-NEWBURGH-MIDDLETOWN, NY (FHA|USDA|VA) 10 $440,000 $44,000 $0 0.00%
New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) 6 $390,000 $65,000 $0 0.00%
Hudson, NY (FHA|USDA|VA) 1 $355,000 $355,000 $0 0.00%
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) 5 $355,000 $71,000 $0 0.00%
North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 1 $305,000 $305,000 $0 0.00%
HOMOSASSA SPRINGS, FL (FHA|USDA|VA) 1 $275,000 $275,000 $0 0.00%
MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) 1 $265,000 $265,000 $0 0.00%
READING, PA (FHA|USDA|VA) 3 $245,000 $81,667 $0 0.00%
SALISBURY, MD-DE (FHA|USDA|VA) 3 $245,000 $81,667 $0 0.00%
GETTYSBURG, PA (FHA|USDA|VA) 2 $160,000 $80,000 $0 0.00%
LANCASTER, PA (FHA|USDA|VA) 3 $155,000 $51,667 $0 0.00%
HARRISBURG-CARLISLE, PA (FHA|USDA|VA) 1 $155,000 $155,000 $0 0.00%
YORK-HANOVER, PA (FHA|USDA|VA) 4 $150,000 $37,500 $0 0.00%
KINGSTON, NY (FHA|USDA|VA) 2 $130,000 $65,000 $0 0.00%
ALLENTOWN-BETHLEHEM-EASTON, PA-NJ (FHA|USDA|VA) 2 $130,000 $65,000 $0 0.00%
Sunbury, PA (FHA|USDA|VA) 2 $80,000 $40,000 $0 0.00%
PITTSBURGH, PA (FHA|USDA|VA) 1 $55,000 $55,000 $0 0.00%
BUFFALO-CHEEKTOWAGA, NY (FHA|USDA|VA) 1 $35,000 $35,000 $0 0.00%
ROCHESTER, NY (FHA|USDA|VA) 1 $35,000 $35,000 $0 0.00%
BINGHAMTON, NY (FHA|USDA|VA) 1 $35,000 $35,000 $0 0.00%
NORWICH-NEW LONDON, CT (FHA|USDA|VA) 1 $25,000 $25,000 $0 0.00%
CHAMBERSBURG-WAYNESBORO, PA (FHA|USDA|VA) 1 $25,000 $25,000 $0 0.00%
Ballston Spa National Bank's top markets include Albany, Glens Falls, Gloversville, Utica, and Poughkeepsie among others.

Their top states include:
  • New York (FHA|USDA|VA)
  • Pennsylvania (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • South Carolina (FHA|USDA|VA)
  • Delaware (FHA|USDA|VA)
  • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 293 $51,225,000 $174,829 $0 0.00%

    For 2018, Ballston Spa National Bank's most frequently originated type of loan was Conventional, with 293 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 176 $29,970,000 $170,284 $0 0.00%
    Cash Out Refi 90 $14,290,000 $158,778 $0 0.00%
    Refi 18 $3,810,000 $211,667 $0 0.00%
    Home Improvement 9 $3,155,000 $350,556 $0 0.00%

    For 2018, Ballston Spa National Bank's most frequently cited loan purpose was Home Purchase, with 176 originations. The 2nd most popular reason was Cash Out Refi, with 90 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 293 $51,225,000 $174,829 $0 0.00%

    For 2018, Ballston Spa National Bank's most frequently cited loan duration was Other, with 293 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 112 $5,770,000 $51,518 $0 0.00%
    $100k-200k 86 $12,880,000 $149,767 $0 0.00%
    $200k-400k 76 $20,270,000 $266,711 $0 0.00%
    $400k-600k 11 $5,435,000 $494,091 $0 0.00%
    $600k-1MM 7 $4,865,000 $695,000 $0 0.00%
    $1MM+ 1 $2,005,000 $2,005,000 $0 0.00%

    2018 saw Ballston Spa National Bank place emphasis on $100,000 or less loans with 112 originations, totaling $5,770,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 59 $7,115,000 $120,593 $0 0.00%
    $100k-150k 58 $11,600,000 $200,000 $0 0.00%
    $50k or less 50 $3,670,000 $73,400 $0 0.00%
    $75k-100k 49 $6,875,000 $140,306 $0 0.00%
    $150k-250k 41 $8,655,000 $211,098 $0 0.00%
    $250k+ 22 $6,970,000 $316,818 $0 0.00%

    Ballston Spa National Bank lent most frequently to those with incomes in the $50k-75k range, with 59 originations. The second most popular income band? $100k-150k, with 58 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 293 $51,225,000 $174,829 $0 0.00%

    Ballston Spa National Bank lent most frequently to those with DTI ratios of Exempt%, with 293 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 264 $42,750,000 $161,932 $0 0.00%
    Not applicable 8 $5,110,000 $638,750 $0 0.00%
    Not provided 14 $1,950,000 $139,286 $0 0.00%
    Korean 1 $565,000 $565,000 $0 0.00%
    Asian 4 $480,000 $120,000 $0 0.00%
    Asian Indian 2 $370,000 $185,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    94.94%

    Ballston Spa National Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    80.55%

    Ballston Spa National Bank has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 293 $51,225,000 $174,829

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 12 $6,560,000 $546,667
    Single Family (1-4 Units):Manufactured 70 $4,160,000 $59,429
    Single Family (1-4 Units):Site-Built 211 $40,505,000 $191,967

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Ballston Spa National Bank 1207 Troy Schenectady Rd Latham, NY 12110 Full Service B&M $4,976
    Ballston Spa National Bank 124 Dunning Street Malta, NY 12020 Full Service B&M $35,262
    Ballston Spa National Bank 13 Maple Road Voorheesville, NY 12186 Full Service B&M $9,051
    Ballston Spa National Bank 1714 Route 9 Clifton Park, NY 12065 Full Service B&M $27,300
    Ballston Spa National Bank 1973 Western Ave Albany, NY 12203 Full Service B&M $8,281
    Ballston Spa National Bank 3060 Route 9n Greenfield Center, NY 12833 Full Service B&M $21,439
    Ballston Spa National Bank 344 Rowland Street Milton, NY 12020 Full Service B&M $38,873
    Ballston Spa National Bank 428 Hudson Ave Stillwater, NY 12170 Full Service B&M $44,503
    Ballston Spa National Bank 5091 Sacandaga Road Galway, NY 12074 Full Service B&M $53,929
    Ballston Spa National Bank 770 Saratoga Road Burnt Hills, NY 12027 Full Service B&M $58,584
    Ballston Spa National Bank 87 Front Street Ballston Spa, NY 12020 Full Service B&M $85,717
    Ballston Spa National Bank 990 State Route 67 Ballston Spa, NY 12020 Full Service B&M $20,840
    Ballston Spa National Bank Route 9 Wilton, NY 12866 Full Service B&M $12,581

    For 2018, Ballston Spa National Bank had 13 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $20,315
    Net interest income $18,683
    Total noninterest income $3,650
    Gross Fiduciary activities income $886
    Service charges on deposit accounts $734
    Trading account gains and fees $0
    Additional Noninterest Income $2,030
    Pre-tax net operating income $5,638
    Securities gains (or losses, -) $0
    Income before extraordinary items $4,554
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $4,554
    Minority interest net income $0
    Net income $4,554
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $4,554

    Ballston Spa National Bank's gross interest income from loans was $20,315,000.
    Ballston Spa National Bank's net interest income from loans was $18,683,000.
    Ballston Spa National Bank's fee based income from loans was $734,000.
    Ballston Spa National Bank's net income from loans was $4,554,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $1,632
    Provision for credit losses $803
    Total noninterest expense $15,892
    Salaries and employee benefits $9,596
    Premises and equipment expense $1,546
    Additional noninterest expense $4,750
    Applicable income taxes $1,084
    Net charge-offs $-10
    Cash dividends $1,416

    Ballston Spa National Bank's interest expense for loans was $1,632,000.
    Ballston Spa National Bank's payroll and benefits expense were $9,596,000.
    Ballston Spa National Bank's property, plant and equipment expenses $1,546,000.

    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 1.0%
    Nonfarm, nonresidential loans 0.0%
    Multifamily residential loans 0.0%
    1-4 family residential loans 0.0%
    HELOC loans 0.0%
    All other family 1.0%
    Commercial & industrial loans 0.0%
    Personal loans 0.0%
    Credit card loans 0.0%
    Other individual loans 0.0%
    Auto loans 0.0%
    Other consumer loans 0.0%
    Unsecured commercial real estate loans 0.0%

    Deposits

    Type Value (in 000's)
    Total deposits $419,911
    Deposits held in domestic offices $419,911
    Deposits by Individuals, partnerships, and corporations $318,145
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $101,766
    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 $49,137
    Demand deposits $30,787
    Nontransaction accounts $370,774
    Money market deposit accounts (MMDAs) $119,197
    Other savings deposits (excluding MMDAs) $212,564
    Total time deposits $39,013
    Total time and savings deposits $389,124
    Noninterest-bearing deposits $77,794
    Interest-bearing deposits $342,118
    Retail deposits $412,058
    IRAs and Keogh plan accounts $4,449
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $531,968
    Cash & Balances due from depository institutions $8,832
    Interest-bearing balances $2,538
    Total securities $71,992
    Federal funds sold & reverse repurchase $0
    Net loans and leases $424,962
    Loan and leases loss allowance $5,652
    Trading account assets $0
    Bank premises and fixed assets $10,180
    Other real estate owned $0
    Goodwill and other intangibles $1,655
    All other assets $14,347

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $531,968
    Total Liabilities $484,905
    Total deposits $419,911
    Interest-bearing deposits $342,118
    Deposits held in domestic offices $419,911
    % insured (estimated) $74
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $60,730
    Subordinated debt $0
    All other liabilities $4,264

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $424,962
    Loan and leases loss allowance $5,652
    Total loans and leases (domestic) $430,614
    All real estate loans $368,026
    Real estate loans in domestic offices $368,026
    Construction and development loans $34,767
    Residential 1-4 family construction $16,756
    Other construction, all land development and other land $18,011
    Loans secured by nonfarm nonresidential properties $107,790
    Nonfarm nonresidential secured by owner-occupied properties $38,149
    Commercial real estate & other non-farm, non-residential $69,641
    Multifamily residential real estate $32,178
    1-4 family residential loans $193,291
    Farmland loans $0
    Loans held in foreign offices $0
    Farm loans $0
    Commercial and industrial loans $30,749
    To non-U.S. addressees $0
    Loans to individuals $27,197
    Credit card loans $0
    Related Plans $353
    Consumer Auto Loans $2,958
    Other loans to individuals $23,886
    All other loans & leases $5,737
    Loans to foreign governments and official institutions $0
    Other loans $1,904
    Loans to depository institutions and acceptances of other banks $0
    Loans not secured by real estate $1,964
    Loans secured by real estate to non-U.S. addressees $0
    Restructured Loans & leases $235
    Non 1-4 family restructured loans & leases $0
    Total loans and leases (foreign) $0

    Ballston Spa National Bank had $424,962,000 of loans outstanding in 2018. $368,026,000 of loans were in real estate loans. $34,767,000 of loans were in development loans. $32,178,000 of loans were in multifamily mortgage loans. $193,291,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $0 of loans were in credit card loans. $2,958,000 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 112 $31,326 $279,696
    Nonfarm, nonresidential loans - <$100k 10 $595 $59,500
    Nonfarm, nonresidential loans - $100-250k 43 $5,904 $137,302
    Nonfarm, nonresidential loans - $250k-1MM 59 $24,827 $420,797
    Commercial & Industrial, US addressed loans - <$1MM 375 $20,886 $55,696
    Commercial & Industrial, US addressed loans - <$100k 269 $6,082 $22,610
    Commercial & Industrial, US addressed loans - $100-250k 63 $5,420 $86,032
    Commercial & Industrial, US addressed loans - $250k-1MM 43 $9,384 $218,233