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, Cash Out Refi, and Refi loans. Ballston Spa National Bank has a high proportion of conventional loans. Their top markets by origination volume include: Albany, Glens Falls, Gloversville, Myrtle Beach, and Philadelphia 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.

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Originations

494

Origination Dollar Volume (All Markets)

$106,230,000

Employee count

118

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)	384	$90,910,000	$236,745	$0	0.00%
GLENS FALLS, NY (FHA\|USDA\|VA)	22	$5,700,000	$259,091	$0	0.00%
Gloversville, NY (FHA\|USDA\|VA)	13	$2,045,000	$157,308	$0	0.00%
MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA\|USDA\|VA)	11	$1,175,000	$106,818	$0	0.00%
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA\|USDA\|VA)	10	$760,000	$76,000	$0	0.00%
READING, PA (FHA\|USDA\|VA)	7	$715,000	$102,143	$0	0.00%
Outside of Metro Areas	2	$660,000	$330,000	$0	0.00%
POUGHKEEPSIE-NEWBURGH-MIDDLETOWN, NY (FHA\|USDA\|VA)	9	$615,000	$68,333	$0	0.00%
Sebastian-Vero Beach, FL (FHA\|USDA\|VA)	1	$565,000	$565,000	$0	0.00%
UTICA-ROME, NY (FHA\|USDA\|VA)	2	$540,000	$270,000	$0	0.00%
Amsterdam, NY (FHA\|USDA\|VA)	3	$525,000	$175,000	$0	0.00%
DOVER, DE (FHA\|USDA\|VA)	3	$285,000	$95,000	$0	0.00%
RALEIGH-CARY, NC (FHA\|USDA\|VA)	1	$255,000	$255,000	$0	0.00%
Hudson, NY (FHA\|USDA\|VA)	1	$215,000	$215,000	$0	0.00%
ALLENTOWN-BETHLEHEM-EASTON, PA-NJ (FHA\|USDA\|VA)	3	$185,000	$61,667	$0	0.00%
SALISBURY, MD-DE (FHA\|USDA\|VA)	2	$170,000	$85,000	$0	0.00%
PITTSBURGH, PA (FHA\|USDA\|VA)	3	$145,000	$48,333	$0	0.00%
New York-Newark-Jersey City, NY-NJ-PA (FHA\|USDA\|VA)	2	$130,000	$65,000	$0	0.00%
ROCHESTER, NY (FHA\|USDA\|VA)	3	$125,000	$41,667	$0	0.00%
LANCASTER, PA (FHA\|USDA\|VA)	2	$100,000	$50,000	$0	0.00%
KINGSTON, NY (FHA\|USDA\|VA)	1	$75,000	$75,000	$0	0.00%
SPRINGFIELD, MA (FHA\|USDA\|VA)	1	$65,000	$65,000	$0	0.00%
ATLANTIC CITY-HAMMONTON, NJ (FHA\|USDA\|VA)	2	$60,000	$30,000	$0	0.00%
NEW HAVEN-MILFORD, CT (FHA\|USDA\|VA)	1	$55,000	$55,000	$0	0.00%
BUFFALO-CHEEKTOWAGA, NY (FHA\|USDA\|VA)	2	$50,000	$25,000	$0	0.00%
GETTYSBURG, PA (FHA\|USDA\|VA)	1	$45,000	$45,000	$0	0.00%
Lock Haven, PA (FHA\|USDA\|VA)	1	$35,000	$35,000	$0	0.00%
HARRISBURG-CARLISLE, PA (FHA\|USDA\|VA)	1	$25,000	$25,000	$0	0.00%

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

Their top states include:

New York (FHA|USDA|VA)

Pennsylvania (FHA|USDA|VA)

South Carolina (FHA|USDA|VA)

Florida (FHA|USDA|VA)

Delaware (FHA|USDA|VA)

Product Mix

Loan Type	Originations	Total Value	Avg. Loan	Avg. Fees	Avg. Rate
Conventional	494	$106,230,000	$215,040	$0	0.00%

For 2020, Ballston Spa National Bank's most frequently originated type of loan was Conventional, with 494 originations.

Loan Reason

Loan Reason	Originations	Total Value	Avg. Loan	Avg. Fees	Avg. Rate
Home Purchase	212	$43,610,000	$205,708	$0	0.00%
Cash Out Refi	179	$38,325,000	$214,106	$0	0.00%
Refi	103	$24,295,000	$235,874	$0	0.00%

For 2020, Ballston Spa National Bank's most frequently cited loan purpose was Home Purchase, with 212 originations. The 2nd most popular reason was Cash Out Refi, with 179 originations.

Loan Duration/Length

Loan Length	Originations	Total Value	Average Loan	Average Fees	Average Rate
Other	494	$106,230,000	$215,040	$0	0.00%

For 2020, Ballston Spa National Bank's most frequently cited loan duration was Other, with 494 originations.

Loan Sizing

Loan Size	Originations	Total Value	Average Loan	Average Fees	Average Rate
$200k-400k	205	$56,825,000	$277,195	$0	0.00%
$100k-200k	161	$24,795,000	$154,006	$0	0.00%
$100,000 or less	98	$5,810,000	$59,286	$0	0.00%
$400k-600k	24	$11,200,000	$466,667	$0	0.00%
$600k-1MM	4	$3,020,000	$755,000	$0	0.00%
$1MM+	2	$4,580,000	$2,290,000	$0	0.00%

2020 saw Ballston Spa National Bank place emphasis on $200k-400k loans with 205 originations, totaling $56,825,000 in origination value.

Applicant Income

Applicant Income	Originations	Total Value	Average Loan	Average Fees	Average Rate
$100k-150k	131	$30,705,000	$234,389	$0	0.00%
$50k-75k	94	$12,690,000	$135,000	$0	0.00%
$75k-100k	86	$15,950,000	$185,465	$0	0.00%
$150k-250k	77	$19,735,000	$256,299	$0	0.00%
$50k or less	52	$5,340,000	$102,692	$0	0.00%
$250k+	38	$14,410,000	$379,211	$0	0.00%

Ballston Spa National Bank lent most frequently to those with incomes in the $100k-150k range, with 131 originations. The second most popular income band? $50k-75k, with 94 originations.

Applicant Debt to Income Ratio

DTI Ratio	Originations	Total Value	Average Loan	Average Fees	Average Rate
Exempt%	494	$106,230,000	$215,040	$0	0.00%

Ballston Spa National Bank lent most frequently to those with DTI ratios of Exempt%, with 494 originations.

Ethnicity Mix

Applicant Ethnicity	Originations	Total Value	Average Loan	Average Fees	Average Rate
White	438	$89,490,000	$204,315	$0	0.00%
Not provided	32	$6,860,000	$214,375	$0	0.00%
Not applicable	8	$5,680,000	$710,000	$0	0.00%
Asian	6	$1,810,000	$301,667	$0	0.00%
American Indian	4	$910,000	$227,500	$0	0.00%
Other Asian	2	$590,000	$295,000	$0	0.00%
Asian Indian	2	$580,000	$290,000	$0	0.00%
Black	2	$310,000	$155,000	$0	0.00%

Approval Rates

Total approvals of all applications
96.89%

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
74.90%

Ballston Spa National Bank has a below average pick rate.

Points and Fees

Points	Originations	Total Value	Average Loan
Exempt	494	$106,230,000	$215,040

Occupancy Type Mix

Dwelling Type	Originations	Total Value	Average Loan
Multifamily:Manufactured	1	$915,000	$915,000
Multifamily:Site-Built	4	$4,330,000	$1,082,500
Single Family (1-4 Units):Manufactured	81	$5,755,000	$71,049
Single Family (1-4 Units):Site-Built	408	$95,230,000	$233,407

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	$12,091
Ballston Spa National Bank	124 Dunning Street Malta, NY 12020	Full Service B&M	$35,999
Ballston Spa National Bank	13 Maple Road Voorheesville, NY 12186	Full Service B&M	$17,688
Ballston Spa National Bank	1714 Route 9 Clifton Park, NY 12065	Full Service B&M	$41,651
Ballston Spa National Bank	1973 Western Ave Albany, NY 12203	Full Service B&M	$17,221
Ballston Spa National Bank	3060 Route 9n Greenfield Center, NY 12833	Full Service B&M	$23,413
Ballston Spa National Bank	344 Rowland Street Milton, NY 12020	Full Service B&M	$43,469
Ballston Spa National Bank	428 Hudson Ave Stillwater, NY 12170	Full Service B&M	$56,641
Ballston Spa National Bank	5091 Sacandaga Road Galway, NY 12074	Full Service B&M	$45,948
Ballston Spa National Bank	770 Saratoga Road Burnt Hills, NY 12027	Full Service B&M	$69,759
Ballston Spa National Bank	87 Front Street Ballston Spa, NY 12020	Full Service B&M	$154,503
Ballston Spa National Bank	990 State Route 67 Ballston Spa, NY 12020	Full Service B&M	$28,750
Ballston Spa National Bank	Route 9 Wilton, NY 12866	Full Service B&M	$13,835

For 2020, Ballston Spa National Bank had 13 branches.

Yearly Performance Overview

Bank Income

Item	Value (in 000's)
Total interest income	$23,053
Net interest income	$20,758
Total noninterest income	$4,401
Gross Fiduciary activities income	$785
Service charges on deposit accounts	$643
Trading account gains and fees	$0
Additional Noninterest Income	$2,973
Pre-tax net operating income	$6,025
Securities gains (or losses, -)	$1
Income before extraordinary items	$4,982
Discontinued Operations (Extraordinary gains, net)	$0
Net income of bank and minority interests	$4,982
Minority interest net income	$0
Net income	$4,982
Sale, conversion, retirement of capital stock, net	$0
Net operating income	$4,981

Ballston Spa National Bank's gross interest income from loans was $23,053,000.
Ballston Spa National Bank's net interest income from loans was $20,758,000.
Ballston Spa National Bank's fee based income from loans was $643,000.
Ballston Spa National Bank's net income from loans was $4,982,000.

Bank Expenses

Item	Value (in 000's)
Total interest expense	$2,295
Provision for credit losses	$1,167
Total noninterest expense	$17,967
Salaries and employee benefits	$10,992
Premises and equipment expense	$1,706
Additional noninterest expense	$5,269
Applicable income taxes	$1,044
Net charge-offs	$-3
Cash dividends	$974

Ballston Spa National Bank's interest expense for loans was $2,295,000.
Ballston Spa National Bank's payroll and benefits expense were $10,992,000.
Ballston Spa National Bank's property, plant and equipment expenses $1,706,000.

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	$605,848
Deposits held in domestic offices	$605,848
Deposits by Individuals, partnerships, and corporations	$473,185
Deposits by U.S. Government	$0
Deposits by States and political subdivisions in the U.S.	$132,663
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	$78,957
Demand deposits	$77,587
Nontransaction accounts	$526,891
Money market deposit accounts (MMDAs)	$215,693
Other savings deposits (excluding MMDAs)	$254,313
Total time deposits	$56,885
Total time and savings deposits	$528,261
Noninterest-bearing deposits	$145,481
Interest-bearing deposits	$460,368
Retail deposits	$577,003
IRAs and Keogh plan accounts	$3,956
Brokered deposits	$19,995
Deposits held in foreign offices	$0

Assets

Asset	Value (in 000's)
Total Assets	$687,274
Cash & Balances due from depository institutions	$86,545
Interest-bearing balances	$81,519
Total securities	$68,132
Federal funds sold & reverse repurchase	$1,550
Net loans and leases	$502,874
Loan and leases loss allowance	$7,374
Trading account assets	$0
Bank premises and fixed assets	$9,819
Other real estate owned	$0
Goodwill and other intangibles	$1,986
All other assets	$16,368

Liabilities

Liabilities	Value (in 000's)
Total liabilities and capital	$687,274
Total Liabilities	$630,611
Total deposits	$605,848
Interest-bearing deposits	$460,368
Deposits held in domestic offices	$605,848
% insured (estimated)	$63
Federal funds purchased and repurchase agreements	$0
Trading liabilities	$0
Other borrowed funds	$15,880
Subordinated debt	$0
All other liabilities	$8,883

Issued Loan Types

Type	Value (in 000's)
Net loans and leases	$502,874
Loan and leases loss allowance	$7,374
Total loans and leases (domestic)	$510,248
All real estate loans	$422,568
Real estate loans in domestic offices	$422,568
Construction and development loans	$31,838
Residential 1-4 family construction	$6,486
Other construction, all land development and other land	$25,352
Loans secured by nonfarm nonresidential properties	$136,810
Nonfarm nonresidential secured by owner-occupied properties	$39,971
Commercial real estate & other non-farm, non-residential	$96,839
Multifamily residential real estate	$36,418
1-4 family residential loans	$217,377
Farmland loans	$125
Loans held in foreign offices	$0
Farm loans	$0
Commercial and industrial loans	$52,549
To non-U.S. addressees	$0
Loans to individuals	$29,014
Credit card loans	$0
Related Plans	$368
Consumer Auto Loans	$2,725
Other loans to individuals	$25,921
All other loans & leases	$6,792
Loans to foreign governments and official institutions	$0
Other loans	$2,041
Loans to depository institutions and acceptances of other banks	$0
Loans not secured by real estate	$4,959
Loans secured by real estate to non-U.S. addressees	$0
Restructured Loans & leases	$320
Non 1-4 family restructured loans & leases	$0
Total loans and leases (foreign)	$0

Ballston Spa National Bank had $502,874,000 of loans outstanding in 2020. $422,568,000 of loans were in real estate loans. $31,838,000 of loans were in development loans. $36,418,000 of loans were in multifamily mortgage loans. $217,377,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $0 of loans were in credit card loans. $2,725,000 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	107	$29,193	$272,832
Nonfarm, nonresidential loans - <$100k	7	$337	$48,143
Nonfarm, nonresidential loans - $100-250k	44	$6,421	$145,932
Nonfarm, nonresidential loans - $250k-1MM	56	$22,435	$400,625
Commercial & Industrial, US addressed loans - <$1MM	702	$44,083	$62,796
Commercial & Industrial, US addressed loans - <$100k	487	$11,492	$23,598
Commercial & Industrial, US addressed loans - $100-250k	145	$16,138	$111,297
Commercial & Industrial, US addressed loans - $250k-1MM	70	$16,453	$235,043
Farmland loans - <$1MM	1	$125	$125,000
Farmland loans - $100-250k	1	$125	$125,000