On September 23, 2025, Ballston Spa Bancorp, Inc. (“Ballston Spa”), the holding company for Ballston Spa National Bank, and NBC Bancorp, Inc. (“NBC”), the holding company for The National Bank of Coxsackie, entered into an agreement for a merger of equals, with Ballston Spa and Ballston Spa National Bank as the surviving entities. The all-stock transaction is valued at approximately $26.0 million.

As of June 30, 2025, Ballston Spa had $912 million in total assets and 13 full-service branches across Albany and Saratoga Counties in New York.

As of June 30, 2025, NBC had $525 million in total assets and eight full-service branches across Albany, Greene, and Schoharie Counties in New York.

Luse Gorman served as legal counsel to Ballston Spa in the merger. The Luse Gorman team consisted of Jeff Cardone, Marc Levy, Max Seltzer, Brendan Clegg, and Anahita Mohtasham.

Luse Gorman has acted as counsel on more than 100 bank M&A transactions during the past seven years and on more bank M&A transactions than any other law firm in the nation over the past 20 years. To learn more about our mergers and acquisitions practice, please visit our website.