Ballston Spa Bancorp, Inc. (BSPA)
For informational purposes only. Not financial advice. Analysis by Sedat ANAK, Founder & Editor-in-Chief | AI-powered analysis. Data sourced from SEC filings and institutional-grade financial providers. Editorially reviewed. Not financial advice.
Ballston Spa Bancorp, Inc. (BSPA) trades at $77.00 with AI Score 59/100 (Grade B). Ballston Spa Bancorp, Inc. Market cap: $57.19M, Sector: Financial services.
Price live · AI analysis from Jun 15, 2026Analyst Coverage for BSPA: BSPA does not currently have published analyst price targets in our coverage universe. This is common for smaller-cap names with limited Wall Street coverage. In the absence of analyst consensus, our AI model evaluates BSPA against Financial Services peers across nine fundamental dimensions and assigns a mixed fundamental profile based on the underlying data.
BSPA: 2/4 perspectives are bearish. Dominant signal: Seth Klarman bearish.
How is this calculated? →Ballston Spa Bancorp, Inc. (BSPA) Financial Services Profile
Ballston Spa Bancorp, Inc., established in 1838, is a regional financial holding company operating Ballston Spa National Bank. It delivers comprehensive banking, lending, investment, and wealth management services through thirteen New York branches, serving corporate, municipal, and individual clients with a focus on community-centric financial solutions.
What Is the Investment Thesis for BSPA?
Ballston Spa Bancorp, Inc. (BSPA) presents a profile rooted in stable regional banking operations, characterized by its long-standing presence since 1838 and a diversified service offering. With a market capitalization of $57.19M and a P/E ratio of 15.90, the company demonstrates profitability with an 8.1% profit margin and a strong gross margin of 59.5%. The dividend yield of 1.74% indicates a commitment to shareholder returns. Its extensive network of thirteen branch offices across New York provides a solid foundation for customer acquisition and retention within its local communities. Key value drivers include its comprehensive suite of financial services, ranging from traditional deposits and loans to wealth management and treasury services, which cater to a broad customer base including corporate, municipal, and individual clients. Growth catalysts are anticipated from continued regional economic development in its New York operating areas, potential expansion of its digital banking capabilities to enhance customer reach, and sustained demand for specialized lending products. The company's negative Beta of -0.53 suggests a historical tendency to move inversely to the broader market, potentially offering a degree of portfolio diversification. However, its OTC market listing and associated liquidity and disclosure characteristics represent notable risk factors that require careful consideration by institutional investors.
Based on FMP financials and quantitative analysis
BSPA Key Highlights
- Market capitalization stands at $0.06 billion, reflecting its status as a smaller regional financial institution.
- The company maintains a P/E ratio of 15.90, indicating its valuation relative to earnings within the financial sector.
- Profit margin of 8.1% demonstrates the company's efficiency in converting revenue into net income.
- Gross margin of 59.5% highlights strong profitability from its core banking and financial service operations.
- A dividend yield of 1.74% provides income to shareholders, consistent with many established financial services companies.
Who Are BSPA's Competitors?
BSPA is benchmarked below against 8 industry peers on price, market cap, and our AI MoonshotScore.
| Company | Price | Change | Market Cap | AI Score |
|---|---|---|---|---|
| MCHB Mechanics Bank | $16.24 | +0.50% | $3.58B | 71 |
| STLE Steele Bancorp Inc. | $43.05 | -0.67% | $80.01M | 69 |
| NASB NASB Financial, Inc. | $40.30 | +0.00% | $289.22M | 68 |
| ASBA Associated Banc-Corp | $24.53 | +0.25% | $4.05B | 67 |
| CBTN Citizens Bancorp Investment, Inc. | $35.01 | +0.00% | $207.30M | 63 |
| BUSE First Busey Corporation | $29.58 | -0.25% | $2.50B | 63 |
| PNBI Pioneer Bankshares, Inc. | $44.50 | +0.00% | $44.61M | 63 |
| FBVI FCN Banc Corp. | $35.87 | +0.17% | $61.78M | 63 |
AI Score by Stock Expert AI · Price data: FMP / Yahoo Finance
What Are BSPA's Key Strengths?
- Long operating history since 1838, fostering strong community trust and brand recognition.
- Diversified revenue streams from traditional banking, lending, investment, and wealth management services.
- Extensive branch network of thirteen offices across key New York counties, ensuring local presence.
- Strong gross margin of 59.5% indicates efficient core operations.
- Commitment to shareholder returns evidenced by a 1.74% dividend yield.
What Are BSPA's Weaknesses?
- Relatively small market capitalization of $57.19M compared to larger regional and national banks.
- Limited geographic reach, primarily confined to specific counties in New York.
- Reliance on traditional branch-based banking, potentially slower to adapt to rapid digital shifts.
- Unknown disclosure status on the OTC market may deter some institutional investors.
- Negative Beta of -0.53, while potentially diversifying, could indicate unique market sensitivities or lower correlation with broader market uptrends.
What Could Drive BSPA Stock Higher?
- Regional economic growth in its New York service areas could drive increased loan demand and deposit growth, particularly in small business and commercial real estate sectors.
- Continued adoption and enhancement of digital banking services could attract new customers and improve operational efficiency, expanding reach beyond physical branches.
- Successful implementation of new wealth management strategies could increase non-interest income and deepen client relationships over the next 12-24 months.
- Favorable interest rate environment could improve net interest margin, positively impacting profitability for its lending operations.
What Are the Key Risks for BSPA?
- Financial-distress signal — its Altman Z-Score of 0.21 sits in the distress zone (elevated bankruptcy risk).
- Economic downturns or regional recessions in New York could lead to increased loan defaults and reduced demand for banking services.
- Intense competition from larger national banks and agile fintech companies could pressure margins and market share.
- Fluctuations in interest rates could negatively impact the bank's net interest margin if not managed effectively.
- The 'Unknown' disclosure status on the OTC market may limit investor confidence and access to critical financial information.
- Regulatory changes or increased compliance costs in the banking sector could impact profitability and operational flexibility.
What Are the Growth Opportunities for BSPA?
- **Digital Banking and Fintech Integration:** Expanding and enhancing its digital banking platforms, including mobile applications and online services, presents a significant growth avenue. The market for digital financial services continues to grow, driven by consumer preference for convenience and remote access. By investing in user-friendly interfaces, advanced security features, and integrating with fintech solutions for services like peer-to-peer payments or budgeting tools, Ballston Spa Bancorp can attract a younger demographic and improve customer engagement across its New York service areas. This could lead to increased deposit gathering and cross-selling opportunities over the next 3-5 years, broadening its reach beyond physical branches.
- **Expansion of Wealth Management Services:** The demand for personalized wealth management, investment advisory, and estate planning services is consistently strong, particularly among affluent individuals and aging populations. Ballston Spa Bancorp already offers these services, and by further developing its expertise, expanding its team of financial advisors, and potentially targeting specific demographic segments within its operating regions, it can capture a larger share of this high-margin market. This growth opportunity, with a timeline of 2-4 years, leverages existing client relationships and positions the bank as a holistic financial partner, increasing non-interest income and client stickiness.
- **Targeted Small Business Lending Programs:** Small and medium-sized enterprises (SMEs) are the backbone of local economies, and regional banks are often their preferred financial partners due to local understanding and relationship-based lending. By developing specialized lending programs tailored to the needs of specific industries prevalent in its New York service areas (e.g., agriculture, tourism, local manufacturing), Ballston Spa Bancorp can deepen its market penetration. Offering competitive rates, flexible terms, and expedited approval processes for small business loans, lines of credit, and government-backed programs (like SBA loans) can drive significant loan portfolio growth over the next 3-5 years.
- **Strategic Geographic Expansion within New York:** While already operating thirteen branches, there may be opportunities for strategic expansion into underserved or rapidly growing communities within New York State, adjacent to its current footprint. This could involve opening new physical branches in high-growth areas or establishing loan production offices. A careful market analysis to identify areas with strong economic indicators, favorable demographics, and limited competitive saturation could yield new deposit bases and lending opportunities. This type of expansion, typically a 5-year outlook, would be methodical and data-driven to ensure profitable growth.
- **Enhancement of Commercial Real Estate (CRE) Lending:** The commercial real estate market, particularly for local businesses and developers, remains a core focus for regional banks. Ballston Spa Bancorp can capitalize on this by strengthening its CRE lending division, focusing on specific property types (e.g., multi-family, small office, retail in growing suburban areas) where it has a competitive advantage or strong local expertise. Building stronger relationships with local developers and real estate investors, coupled with efficient underwriting processes, can lead to a robust and diversified CRE loan portfolio. This opportunity has an ongoing timeline, subject to local market conditions and interest rate environments.
What Opportunities Does BSPA Have?
- Expand digital banking capabilities to reach a broader customer base and enhance customer experience.
- Increase market share in wealth management and advisory services within its affluent customer segments.
- Capitalize on local economic growth in its New York service areas through targeted small business and commercial real estate lending.
- Strategic expansion into adjacent, underserved markets within New York State.
- Develop niche lending products tailored to specific local industries or consumer needs.
What Threats Does BSPA Face?
- Intense competition from larger national banks, credit unions, and agile fintech companies.
- Fluctuations in interest rates impacting net interest margin and loan demand.
- Economic downturns or regional economic slowdowns affecting loan quality and deposit growth.
- Increased regulatory burden and compliance costs specific to the financial services industry.
- Cybersecurity risks and data breaches, which could erode customer trust and incur significant costs.
What Are BSPA's Competitive Advantages?
- **Established Local Presence:** Over 180 years of operating history and thirteen physical branches foster deep community ties and trust.
- **Diversified Service Offering:** A broad range of banking, lending, investment, and wealth management services caters to varied customer needs, promoting client stickiness.
- **Relationship Banking Model:** Focus on personalized service and local decision-making, which can be a differentiator against larger national banks.
- **Regulatory Compliance Expertise:** Long-standing operation within a highly regulated industry implies robust compliance frameworks and experience.
- **Local Market Knowledge:** Deep understanding of the economic landscape and specific needs of the communities it serves in New York.
What Does BSPA Do?
Ballston Spa Bancorp, Inc. functions as the holding company for Ballston Spa National Bank, a long-standing financial institution with a history dating back to its founding in 1838 in Ballston Spa, New York. Over its extensive operational history, the company has evolved to provide a comprehensive array of banking, financing, fiduciary, brokerage, and other financial services. Its core mission revolves around serving corporate, municipal, and individual customers primarily within the United States, with a strong regional presence across thirteen branch offices located in key New York counties including Ballston Spa, Burnt Hills, Clifton Park, Galway, Greenfield Center, Guilderland, Latham, Malta, Milton Crest, Stillwater, Voorheesville, and Wilton. The product and service portfolio is diverse, encompassing traditional deposit accounts such as checking, savings, money market, health savings, and individual retirement accounts, alongside certificates of deposit. On the lending side, the bank offers a wide range of loan products, including mortgage and home equity, construction, auto, boat, RV, personal, small business, term, and commercial real estate loans, complemented by lines of credit and government-backed programs. Beyond conventional banking, Ballston Spa Bancorp, Inc. extends into personal investment services, providing annuities, college savings plans, mutual funds, and various insurance products like life and long-term care. Furthermore, it offers sophisticated investment and asset management, trusteeship, estate settlement, custodial, and wealth management services. For its business clients, the company delivers treasury management services, merchant, and payment processing solutions. Emphasizing modern convenience, it also provides robust online and mobile banking platforms, eStatements, and mobile wallets, ensuring accessibility and efficiency for its diverse customer base.
What Products and Services Does BSPA Offer?
- Operates as a holding company for Ballston Spa National Bank.
- Provides a full range of traditional banking services, including checking, savings, and money market accounts.
- Offers various loan products such as mortgages, home equity, auto, personal, and commercial real estate loans.
- Delivers personal investment services, including annuities, mutual funds, and college savings plans.
- Provides wealth management, investment and asset management, trusteeship, and estate settlement services.
- Offers treasury management, merchant, and payment processing services for businesses.
- Facilitates banking through thirteen physical branch offices across New York counties.
- Supports modern banking with online and mobile banking, eStatements, and mobile wallets.
How Does BSPA Make Money?
- Generates interest income from its loan portfolio, including mortgage, commercial, and consumer loans.
- Earns non-interest income through fees from services like wealth management, investment products, treasury management, and merchant processing.
- Attracts deposits from individuals, corporations, and municipalities, utilizing these funds for lending and investments.
- Manages a diversified portfolio of financial assets and liabilities to optimize net interest margin.
- Provides insurance products (life, long-term care) and brokerage services, earning commissions and fees.
What Industry Does BSPA Operate In?
Ballston Spa Bancorp, Inc. operates within the highly regulated and competitive Banks - Regional industry, a segment of the broader Financial Services sector. This industry is characterized by its focus on serving local communities and small to medium-sized businesses, often relying on strong customer relationships and local market knowledge. Current market trends include increasing adoption of digital banking solutions, evolving regulatory landscapes, and persistent competition from larger national banks and emerging fintech companies. Regional banks like Ballston Spa Bancorp, Inc. typically differentiate themselves through personalized service, community involvement, and tailored product offerings that cater to specific local economic needs. The company's thirteen branch offices across New York position it as a significant local player in its operating counties, competing for deposits and loan origination against other regional banks, credit unions, and larger commercial banks with a presence in these areas. The overall market for regional banking services remains robust, driven by local economic activity, real estate markets, and small business growth, though it is susceptible to interest rate fluctuations and broader economic cycles.
Who Are BSPA's Key Customers?
- Individual customers seeking personal banking, lending, and investment services.
- Corporate clients requiring commercial loans, treasury management, and payment processing.
- Municipal entities utilizing banking and financial services.
- Small business owners seeking financing, deposit accounts, and merchant services.
- High-net-worth individuals and families needing wealth management and estate planning.
Company Profile
Ballston Spa Bancorp, Inc. operates in the Banks - Regional industry within the Financial Services sector. It is headquartered in Ballston Spa, US. The company is led by CEO Christopher R. Dowd. BSPA has traded publicly since 1999.
Ballston Spa Bancorp, Inc. Financial Trajectory
Ballston Spa Bancorp, Inc. (BSPA) reported $10.4M in revenue for Q1 2026, reflecting 10.7% growth compared to the prior quarter. The company recorded net income of $244K, with diluted EPS of $0.33. Quarter-over-quarter revenue has been mixed, typical for a micro-cap company operating in Financial Services. Across the four most recent quarters, BSPA averaged $1.17 in diluted EPS.
How Ballston Spa Bancorp, Inc. Is Valued
Ballston Spa Bancorp, Inc. carries a market capitalization of $57.19M, placing it in the micro-cap category. Relative to its peer group, BSPA's quantitative score of 59/100 is roughly in line with the peer average of 68/100.
ROE 5%Key Financial Metrics
Return on equity for Ballston Spa Bancorp, Inc. stands at 5.0%, a gauge of how efficiently it converts shareholder capital into profit. Return on assets is 0.4%, showing how much profit it generates from its asset base. BSPA trades at a trailing price-to-earnings ratio of 15.97, below the Financial Services sector average of ~18x. Its free cash flow yield is -2.6%, a gauge of the cash the business throws off relative to its market value. A current ratio of 0.00 means current liabilities exceed short-term assets, a liquidity point worth watching. Its earnings yield is 6.3%, the inverse of the P/E and a quick read on earnings relative to price.
F-Score 4/9Financial Health
Ballston Spa Bancorp, Inc.'s Piotroski F-Score is 4/9, a 9-point checklist of profitability, leverage and efficiency — a middling fundamental profile. Its Altman Z-Score of 0.21 places it in the distress zone, a signal of elevated financial risk.
BSPA Financials
Fundamental Snapshot
Based on FMP financials and quantitative analysis · FY 2025
Bull Case vs Bear Case
Bull Case
- Long operating history since 1838, fostering strong community trust and brand recognition.
- Diversified revenue streams from traditional banking, lending, investment, and wealth management services.
- Extensive branch network of thirteen offices across key New York counties, ensuring local presence.
- Strong gross margin of 59.5% indicates efficient core operations.
Bear Case
- Relatively small market capitalization of $57.19M compared to larger regional and national banks.
- Limited geographic reach, primarily confined to specific counties in New York.
- Reliance on traditional branch-based banking, potentially slower to adapt to rapid digital shifts.
- Unknown disclosure status on the OTC market may deter some institutional investors.
AI-generated arguments based on insider flow, news sentiment and technicals — not financial advice · July 2026
Recent Quarterly Results
| Quarter | Revenue | Net Income | EPS |
|---|---|---|---|
| Q1 2026 | $10M | $244,000 | $0.33 |
| Q4 2025 | $9M | $555,000 | $0.75 |
| Q3 2025 | $12M | $1M | $1.95 |
| Q2 2025 | $11M | $1M | $1.66 |
Based on FMP financials and quantitative analysis
BSPA Latest News
No recent news available for BSPA.
BSPA Analyst Consensus
Consensus Rating
Aggregated Buy/Hold/Sell recommendations from Benzinga, Yahoo Finance, and Finnhub for BSPA.
Price Targets
Wall Street price target analysis for BSPA.
BSPA MoonshotScore
What does this score mean?
The MoonshotScore rates BSPA's growth potential on a scale of 0-100 across multiple factors including innovation, market disruption, financial health, and momentum.
Leadership: Christopher R. Dowd
Chief Executive Officer
Christopher R. Dowd serves as the Chief Executive Officer, overseeing the strategic direction and daily operations of Ballston Spa Bancorp, Inc. and its subsidiary, Ballston Spa National Bank. His leadership is crucial in managing a team of 111 employees, ensuring the delivery of comprehensive financial services to corporate, municipal, and individual clients. While specific educational background details are not provided, his role as CEO of a long-standing regional bank suggests extensive experience in banking and financial management, likely encompassing various leadership positions within the sector.
Track Record: Under Christopher R. Dowd's leadership, Ballston Spa Bancorp, Inc. continues to operate as a stable regional financial institution, maintaining its extensive branch network and diversified service offerings. His tenure has focused on managing the bank's operations, overseeing its product portfolio, and steering its market presence across thirteen New York counties. Key strategic decisions under his guidance would likely include navigating evolving regulatory environments and adapting to competitive pressures within the regional banking landscape.
BSPA OTC Market Information
Ballston Spa Bancorp, Inc. trades on the OTC Other tier of the OTC market. This tier is distinct from major exchanges like NYSE or NASDAQ, which have stringent listing requirements regarding financial reporting, market capitalization, and corporate governance. OTC Other, often referred to as the 'Pink Sheets' or 'Expert Market,' represents companies that may not meet the disclosure standards of higher OTC tiers (like OTCQX or OTCQB) or major exchanges. It typically involves companies that are current in their reporting but may not file with the SEC, or those that choose to provide limited information. This tier has less regulatory oversight compared to fully reporting companies, which can impact transparency and investor confidence.
- OTC Tier: OTC Other
- Disclosure Status: Unknown
- Lack of comprehensive and timely financial disclosure, as the company's disclosure status is 'Unknown', making fundamental analysis difficult.
- Lower liquidity and wider bid-ask spreads, which can lead to difficulty in executing trades and potential price volatility.
- Limited analyst coverage and institutional investor interest, resulting in less information available to the public and potentially less efficient pricing.
- Increased susceptibility to market manipulation due to lower trading volumes and less stringent oversight.
- Potential for delisting or further restrictions if disclosure standards are not met or maintained.
- Verify the availability and recency of any financial statements or company reports, even if not SEC-filed.
- Research the company's management team and their track record through independent sources.
- Assess the underlying business model and its viability, focusing on revenue generation and profitability.
- Investigate any news, press releases, or public announcements from the company or related entities.
- Evaluate the company's competitive landscape and market position within its regional banking sector.
- Understand the regulatory environment specific to regional banks and any compliance risks.
- Consider the potential impact of low liquidity and wide spreads on investment strategy.
- Long operating history since 1838, indicating established business operations and resilience.
- Operates a regulated bank subsidiary, Ballston Spa National Bank, subject to banking oversight.
- Maintains a network of thirteen physical branch offices, signifying tangible assets and customer presence.
- Provides a comprehensive suite of traditional banking and financial services, typical of a legitimate financial institution.
BSPA Financial Services Stock FAQ
What does Ballston Spa Bancorp, Inc. do?
Ballston Spa Bancorp, Inc. functions as the holding company for Ballston Spa National Bank, a regional financial institution founded in 1838. The company provides a broad spectrum of financial services to corporate, municipal, and individual clients across thirteen branch offices in various New York counties. Its offerings include traditional deposit accounts like checking, savings, and IRAs, a wide range of loan products such as mortgages, commercial, and personal loans, and specialized services like wealth management, investment advisory, and estate settlement. Additionally, it offers treasury management and payment processing for businesses, all supported by modern online and mobile banking platforms.
What is Ballston Spa Bancorp, Inc.'s credit quality and risk management approach?
While specific metrics on credit quality (e.g., non-performing loan ratios, provision levels) are not provided in the source data, as a regional bank operating since 1838, Ballston Spa Bancorp, Inc. would inherently employ established risk management frameworks. These typically involve rigorous underwriting standards for its diverse loan portfolio, including mortgage, commercial, and consumer loans. Its approach would likely focus on local market knowledge to assess borrower creditworthiness and collateral values. Risk management would also encompass interest rate risk, liquidity risk, operational risk, and compliance risk, all crucial for maintaining financial stability and regulatory adherence within the banking sector. The long operating history suggests a seasoned approach to managing these inherent risks.
What are the main risks for BSPA, particularly as an OTC stock?
The main risks for Ballston Spa Bancorp, Inc. include general banking sector challenges such as interest rate fluctuations impacting net interest margin, intense competition from larger financial institutions and fintech, and potential economic downturns affecting loan quality and demand. Specific to its OTC listing, the 'OTC Other' tier and 'Unknown' disclosure status present significant risks, including limited transparency due to less stringent reporting requirements compared to major exchanges. This can lead to lower liquidity, wider bid-ask spreads, and increased price volatility, making it more challenging for investors to trade shares efficiently. Furthermore, reduced analyst coverage and institutional interest can result in less public information and potentially less efficient market pricing.
How does Ballston Spa Bancorp, Inc. differentiate itself in the regional banking market?
Ballston Spa Bancorp, Inc. differentiates itself through its deep-rooted history and strong community presence, having operated since 1838. This long tenure fosters significant trust and local brand recognition across its thirteen New York branch locations. The company emphasizes a relationship-based banking model, offering personalized service and local decision-making, which often appeals to individuals and small businesses seeking alternatives to larger, more impersonal national banks. Its comprehensive suite of services, spanning traditional banking, diverse lending options, and specialized wealth management, allows it to serve as a holistic financial partner, catering to a wide range of customer needs within its specific geographic footprint.
What are the key factors to evaluate for BSPA?
Ballston Spa Bancorp, Inc. (BSPA) holds an AI score of 59/100 (moderate). Not financial advice.
How frequently does BSPA data refresh on this page?
BSPA prices update in real time during U.S. market hours. Fundamentals refresh after quarterly filings; analyst ratings and AI insights update daily; news is aggregated continuously.
What has driven BSPA's recent stock price performance?
Ballston Spa Bancorp, Inc. (BSPA) moves on earnings results, analyst revisions, sector rotation, and market sentiment. Notable catalyst: Long operating history since 1838, fostering strong community trust and brand recognition. See the News tab for the latest drivers. Past performance does not predict future results.
Should investors consider BSPA overvalued or undervalued right now?
Valuing Ballston Spa Bancorp, Inc. (BSPA) requires multiple metrics. Compare P/E, P/S, and EV/EBITDA against sector peers for a full view.
Disclaimer: This content is for informational purposes only and does not constitute investment advice. Always do your own research and consult a financial advisor.
Official Resources
Data provided for informational purposes only.
- Competitors could not be identified as FMP PEER TICKERS were not provided in the source data.
- Specific details on CEO's education and tenure years were not provided.
- Specific credit quality metrics (e.g., NPLs, provisions) were not available in the source data.
- Analyst consensus data was not provided, so the corresponding FAQ was omitted as per instructions.