Ballston Spa National Bank Mortgage Rates, Fees & Info

Ballston Spa, NY

LEI: 549300QY4UCP33T94N09

Tax ID: 14-0486153

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 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, Philadelphia, Gloversville, and Reading among others. We have data for 28 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.

We show data for every lender and do not change our ratings-- even if an organization is a paid advertiser. Our consensus data does have lag, but it is highly correlated to a lender's rates & fees relative to their markets. This means that if a bank is a low fee/rate lender the past-- chances are they are still one today. Our SimulatedRates™ use advanced statistical techniques to forecast different rates based on a lender's historical data.

Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.

Mortgage professionals: We have various tools to make your lives easier. Contact us to see how we can help with your market research, analytics or advertising needs.

Originations

339

Origination Dollar Volume (All Markets)

$74,125,000

Employee count

117

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)	260	$64,980,000	$249,923	$0	0.00%
GLENS FALLS, NY (FHA\|USDA\|VA)	11	$2,575,000	$234,091	$0	0.00%
Outside of Metro Areas	6	$880,000	$146,667	$0	0.00%
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA\|USDA\|VA)	9	$825,000	$91,667	$0	0.00%
Gloversville, NY (FHA\|USDA\|VA)	2	$620,000	$310,000	$0	0.00%
READING, PA (FHA\|USDA\|VA)	7	$535,000	$76,429	$0	0.00%
BRIDGEPORT-STAMFORD-NORWALK, CT (FHA\|USDA\|VA)	1	$455,000	$455,000	$0	0.00%
UTICA-ROME, NY (FHA\|USDA\|VA)	2	$410,000	$205,000	$0	0.00%
KINGSTON, NY (FHA\|USDA\|VA)	4	$300,000	$75,000	$0	0.00%
New York-Newark-Jersey City, NY-NJ-PA (FHA\|USDA\|VA)	4	$300,000	$75,000	$0	0.00%
SALISBURY, MD-DE (FHA\|USDA\|VA)	3	$265,000	$88,333	$0	0.00%
SAVANNAH, GA (FHA\|USDA\|VA)	1	$235,000	$235,000	$0	0.00%
PITTSBURGH, PA (FHA\|USDA\|VA)	4	$190,000	$47,500	$0	0.00%
ALLENTOWN-BETHLEHEM-EASTON, PA-NJ (FHA\|USDA\|VA)	3	$175,000	$58,333	$0	0.00%
POUGHKEEPSIE-NEWBURGH-MIDDLETOWN, NY (FHA\|USDA\|VA)	3	$175,000	$58,333	$0	0.00%
Sunbury, PA (FHA\|USDA\|VA)	3	$175,000	$58,333	$0	0.00%
Hudson, NY (FHA\|USDA\|VA)	2	$170,000	$85,000	$0	0.00%
LANCASTER, PA (FHA\|USDA\|VA)	2	$140,000	$70,000	$0	0.00%
Amsterdam, NY (FHA\|USDA\|VA)	1	$135,000	$135,000	$0	0.00%
GETTYSBURG, PA (FHA\|USDA\|VA)	2	$130,000	$65,000	$0	0.00%
BUFFALO-CHEEKTOWAGA, NY (FHA\|USDA\|VA)	2	$110,000	$55,000	$0	0.00%
Woodward, OK (FHA\|USDA\|VA)	1	$105,000	$105,000	$0	0.00%
HARTFORD-EAST HARTFORD-MIDDLETOWN, CT (FHA\|USDA\|VA)	1	$65,000	$65,000	$0	0.00%
YORK-HANOVER, PA (FHA\|USDA\|VA)	1	$65,000	$65,000	$0	0.00%
ERIE, PA (FHA\|USDA\|VA)	1	$35,000	$35,000	$0	0.00%
VINELAND-BRIDGETON, NJ (FHA\|USDA\|VA)	1	$25,000	$25,000	$0	0.00%
Corning, NY (FHA\|USDA\|VA)	1	$25,000	$25,000	$0	0.00%
Olean, NY (FHA\|USDA\|VA)	1	$25,000	$25,000	$0	0.00%

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

Their top states include:

New York (FHA|USDA|VA)

Pennsylvania (FHA|USDA|VA)

Connecticut (FHA|USDA|VA)

Vermont (FHA|USDA|VA)

Delaware (FHA|USDA|VA)

Product Mix

Loan Type	Originations	Total Value	Avg. Loan	Avg. Fees	Avg. Rate
Conventional	339	$74,125,000	$218,658	$0	0.00%

For 2019, Ballston Spa National Bank's most frequently originated type of loan was Conventional, with 339 originations.

Loan Reason

Loan Reason	Originations	Total Value	Avg. Loan	Avg. Fees	Avg. Rate
Home Purchase	202	$44,100,000	$218,317	$0	0.00%
Cash Out Refi	94	$18,600,000	$197,872	$0	0.00%
Refi	26	$5,410,000	$208,077	$0	0.00%
Home Improvement	17	$6,015,000	$353,824	$0	0.00%

For 2019, Ballston Spa National Bank's most frequently cited loan purpose was Home Purchase, with 202 originations. The 2nd most popular reason was Cash Out Refi, with 94 originations.

Loan Duration/Length

Loan Length	Originations	Total Value	Average Loan	Average Fees	Average Rate
Other	339	$74,125,000	$218,658	$0	0.00%

For 2019, Ballston Spa National Bank's most frequently cited loan duration was Other, with 339 originations.

Loan Sizing

Loan Size	Originations	Total Value	Average Loan	Average Fees	Average Rate
$200k-400k	114	$30,970,000	$271,667	$0	0.00%
$100k-200k	105	$15,765,000	$150,143	$0	0.00%
$100,000 or less	101	$5,625,000	$55,693	$0	0.00%
$400k-600k	14	$6,380,000	$455,714	$0	0.00%
$1MM+	3	$13,915,000	$4,638,333	$0	0.00%
$600k-1MM	2	$1,470,000	$735,000	$0	0.00%

2019 saw Ballston Spa National Bank place emphasis on $200k-400k loans with 114 originations, totaling $30,970,000 in origination value.

Applicant Income

Applicant Income	Originations	Total Value	Average Loan	Average Fees	Average Rate
$50k-75k	79	$9,625,000	$121,835	$0	0.00%
$75k-100k	73	$12,625,000	$172,945	$0	0.00%
$100k-150k	61	$13,135,000	$215,328	$0	0.00%
$150k-250k	49	$11,015,000	$224,796	$0	0.00%
$50k or less	40	$3,380,000	$84,500	$0	0.00%
$250k+	21	$7,535,000	$358,810	$0	0.00%

Ballston Spa National Bank lent most frequently to those with incomes in the $50k-75k range, with 79 originations. The second most popular income band? $75k-100k, with 73 originations.

Applicant Debt to Income Ratio

DTI Ratio	Originations	Total Value	Average Loan	Average Fees	Average Rate
Exempt%	339	$74,125,000	$218,658	$0	0.00%

Ballston Spa National Bank lent most frequently to those with DTI ratios of Exempt%, with 339 originations.

Ethnicity Mix

Applicant Ethnicity	Originations	Total Value	Average Loan	Average Fees	Average Rate
White	289	$50,385,000	$174,343	$0	0.00%
Not applicable	11	$15,975,000	$1,452,273	$0	0.00%
Not provided	24	$4,070,000	$169,583	$0	0.00%
Asian	12	$3,150,000	$262,500	$0	0.00%
Other Asian	1	$235,000	$235,000	$0	0.00%
Asian Indian	1	$205,000	$205,000	$0	0.00%
Chinese	1	$105,000	$105,000	$0	0.00%

Approval Rates

Total approvals of all applications
96.57%

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
67.85%

Ballston Spa National Bank has a low pick rate. They may have issues with closing loans or may approve everyone, but with onerous loan terms.

Points and Fees

Points	Originations	Total Value	Average Loan
Exempt	339	$74,125,000	$218,658

Occupancy Type Mix

Dwelling Type	Originations	Total Value	Average Loan
Multifamily:Site-Built	11	$16,145,000	$1,467,727
Single Family (1-4 Units):Manufactured	69	$4,465,000	$64,710
Single Family (1-4 Units):Site-Built	259	$53,515,000	$206,622

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	$8,601
Ballston Spa National Bank	124 Dunning Street Malta, NY 12020	Full Service B&M	$32,304
Ballston Spa National Bank	13 Maple Road Voorheesville, NY 12186	Full Service B&M	$13,832
Ballston Spa National Bank	1714 Route 9 Clifton Park, NY 12065	Full Service B&M	$29,427
Ballston Spa National Bank	1973 Western Ave Albany, NY 12203	Full Service B&M	$10,677
Ballston Spa National Bank	3060 Route 9n Greenfield Center, NY 12833	Full Service B&M	$20,845
Ballston Spa National Bank	344 Rowland Street Milton, NY 12020	Full Service B&M	$37,646
Ballston Spa National Bank	428 Hudson Ave Stillwater, NY 12170	Full Service B&M	$47,331
Ballston Spa National Bank	5091 Sacandaga Road Galway, NY 12074	Full Service B&M	$49,017
Ballston Spa National Bank	770 Saratoga Road Burnt Hills, NY 12027	Full Service B&M	$64,008
Ballston Spa National Bank	87 Front Street Ballston Spa, NY 12020	Full Service B&M	$91,719
Ballston Spa National Bank	990 State Route 67 Ballston Spa, NY 12020	Full Service B&M	$24,127
Ballston Spa National Bank	Route 9 Wilton, NY 12866	Full Service B&M	$20,195

For 2019, Ballston Spa National Bank had 13 branches.

Yearly Performance Overview

Bank Income

Item	Value (in 000's)
Total interest income	$22,398
Net interest income	$19,000
Total noninterest income	$3,353
Gross Fiduciary activities income	$821
Service charges on deposit accounts	$769
Trading account gains and fees	$0
Additional Noninterest Income	$1,763
Pre-tax net operating income	$4,786
Securities gains (or losses, -)	$0
Income before extraordinary items	$3,931
Discontinued Operations (Extraordinary gains, net)	$0
Net income of bank and minority interests	$3,931
Minority interest net income	$0
Net income	$3,931
Sale, conversion, retirement of capital stock, net	$0
Net operating income	$3,931

Ballston Spa National Bank's gross interest income from loans was $22,398,000.
Ballston Spa National Bank's net interest income from loans was $19,000,000.
Ballston Spa National Bank's fee based income from loans was $769,000.
Ballston Spa National Bank's net income from loans was $3,931,000.

Bank Expenses

Item	Value (in 000's)
Total interest expense	$3,398
Provision for credit losses	$725
Total noninterest expense	$16,842
Salaries and employee benefits	$10,524
Premises and equipment expense	$1,502
Additional noninterest expense	$4,816
Applicable income taxes	$855
Net charge-offs	$172
Cash dividends	$735

Ballston Spa National Bank's interest expense for loans was $3,398,000.
Ballston Spa National Bank's payroll and benefits expense were $10,524,000.
Ballston Spa National Bank's property, plant and equipment expenses $1,502,000.

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	0.0%
Other consumer loans	0.0%
Unsecured commercial real estate loans	0.0%

Deposits

Type	Value (in 000's)
Total deposits	$446,279
Deposits held in domestic offices	$446,279
Deposits by Individuals, partnerships, and corporations	$345,598
Deposits by U.S. Government	$2
Deposits by States and political subdivisions in the U.S.	$99,698
Deposits by Commercial banks and other depository institutions in U.S.	$981
Deposits by Banks in foreign countries	$0
Deposits by Foreign governments and official institutions	$0
Transaction accounts	$48,006
Demand deposits	$35,490
Nontransaction accounts	$398,273
Money market deposit accounts (MMDAs)	$164,169
Other savings deposits (excluding MMDAs)	$185,544
Total time deposits	$48,560
Total time and savings deposits	$410,789
Noninterest-bearing deposits	$81,142
Interest-bearing deposits	$365,138
Retail deposits	$429,563
IRAs and Keogh plan accounts	$4,183
Brokered deposits	$0
Deposits held in foreign offices	$0

Assets

Asset	Value (in 000's)
Total Assets	$584,882
Cash & Balances due from depository institutions	$8,405
Interest-bearing balances	$2,765
Total securities	$75,325
Federal funds sold & reverse repurchase	$600
Net loans and leases	$471,629
Loan and leases loss allowance	$6,205
Trading account assets	$0
Bank premises and fixed assets	$10,434
Other real estate owned	$135
Goodwill and other intangibles	$1,695
All other assets	$16,659

Liabilities

Liabilities	Value (in 000's)
Total liabilities and capital	$584,882
Total Liabilities	$532,715
Total deposits	$446,279
Interest-bearing deposits	$365,138
Deposits held in domestic offices	$446,279
% insured (estimated)	$73
Federal funds purchased and repurchase agreements	$0
Trading liabilities	$0
Other borrowed funds	$80,080
Subordinated debt	$0
All other liabilities	$6,356

Issued Loan Types

Type	Value (in 000's)
Net loans and leases	$471,629
Loan and leases loss allowance	$6,205
Total loans and leases (domestic)	$477,834
All real estate loans	$401,880
Real estate loans in domestic offices	$401,880
Construction and development loans	$28,714
Residential 1-4 family construction	$9,168
Other construction, all land development and other land	$19,546
Loans secured by nonfarm nonresidential properties	$118,661
Nonfarm nonresidential secured by owner-occupied properties	$40,174
Commercial real estate & other non-farm, non-residential	$78,487
Multifamily residential real estate	$38,866
1-4 family residential loans	$215,514
Farmland loans	$125
Loans held in foreign offices	$0
Farm loans	$0
Commercial and industrial loans	$39,372
To non-U.S. addressees	$0
Loans to individuals	$28,055
Credit card loans	$0
Related Plans	$414
Consumer Auto Loans	$2,821
Other loans to individuals	$24,820
All other loans & leases	$9,347
Loans to foreign governments and official institutions	$0
Other loans	$1,981
Loans to depository institutions and acceptances of other banks	$0
Loans not secured by real estate	$8,268
Loans secured by real estate to non-U.S. addressees	$0
Restructured Loans & leases	$343
Non 1-4 family restructured loans & leases	$0
Total loans and leases (foreign)	$0

Ballston Spa National Bank had $471,629,000 of loans outstanding in 2019. $401,880,000 of loans were in real estate loans. $28,714,000 of loans were in development loans. $38,866,000 of loans were in multifamily mortgage loans. $215,514,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $0 of loans were in credit card loans. $2,821,000 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	$30,466	$272,018
Nonfarm, nonresidential loans - <$100k	8	$415	$51,875
Nonfarm, nonresidential loans - $100-250k	42	$6,086	$144,905
Nonfarm, nonresidential loans - $250k-1MM	62	$23,965	$386,532
Commercial & Industrial, US addressed loans - <$1MM	420	$25,051	$59,645
Commercial & Industrial, US addressed loans - <$100k	270	$5,744	$21,274
Commercial & Industrial, US addressed loans - $100-250k	95	$9,044	$95,200
Commercial & Industrial, US addressed loans - $250k-1MM	55	$10,263	$186,600
Farmland loans - <$1MM	1	$125	$125,000
Farmland loans - $100-250k	1	$125	$125,000