On March 25, 2026, Ballston Spa Bancorp, Inc. (the “Company”), Ballston Spa, New York, the holding company for Ballston Spa National Bank, completed a private placement of $26.0 million of 7.375% Fixed-to-Floating Rate Subordinated Notes due 2036.

As of December 31, 2025, the Company had $928.5 million in total assets and 13 locations throughout New York.

Luse Gorman served as legal counsel to Ballston Spa Bancorp, Inc. The Luse Gorman team consisted of Jeff Cardone, Marc Levy and Anahita Mohtasham-Gharagozloo.

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