Ballston Spa National Bank Mortgage Rates, Fees & Info

Ballston Spa, NY

LEI: 549300QY4UCP33T94N09

Tax ID: 14-0486153

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Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • Bank Data

  • Branches
  • Income
  • Loan Types
  • Deposit Mix
  • Loan Performance
  • Assets
  • Business Loans

    • 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, Philadelphia, and Hudson among others. We have data for 27 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.

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    Originations

    444

    Origination Dollar Volume (All Markets)

    $118,310,000

    Employee count

    115

    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) 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.

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

    • Product Mix

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

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

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. 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 2021, Ballston Spa National Bank's most frequently cited loan purpose was Home Purchase, with 203 originations. The 2nd most popular reason was 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 2021, Ballston Spa National Bank's most frequently cited loan duration was 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
    96.86%

    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
    75.45%

    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