Business
Ballston Spa Bancorp, Inc. and NBC Bancorp, Inc. Receive Shareholder Approvals to Complete Pending Merger; Announce Anticipated Closing Date
BALLSTON SPA, N.Y. & COXSACKIE, N.Y., March 23, 2026--Ballston Spa Bancorp, Inc. (OTCQX: BSPA), holding company for Ballston Spa National Bank (collectively "BSNB"), and NBC Bancorp, Inc. (OTCID: NCXS), holding company for The National Bank of Coxsackie (collectively "NBC"), today jointly announced that the pending strategic merger transaction received shareholder approval at each of BSNB’s and NBC’s special meeting of shareholders held on March 23, 2026.
About this update from The Bancorp, Inc.
[{"type":"image","alt":"","displaySize":"","headline":null,"caption":"","credit":null,"className":"","disableSlideshowImg":false,"size":{"original":{"width":1711,"height":308,"url":"https://media.zenfs.com/en/business-wire.com/30447b86fbd205518715089f8c580c53"},"resized":{"url":"https://s.yimg.com/ny/api/res/1.2/wT8IRaA9Ii6lDmS3Os.B0Q--/YXBwaWQ9aGlnaGxhbmRlcjt3PTk2MDtoPTE3Mw--/https://media.zenfs.com/en/business-wire.com/30447b86fbd205518715089f8c580c53","width":960,"height":173},"lightbox":{"url":"https://s.yimg.com/ny/api/res/1.2/ZOX4XqeG2SI9GlMm.OgXDA--/YXBwaWQ9aGlnaGxhbmRlcjt3PTI0MDA7aD00MzI-/https://media.zenfs.com/en/business-wire.com/30447b86fbd205518715089f8c580c53","width":1200,"height":216}},"lazy":false},{"type":"text","content":"BALLSTON SPA, N.Y. & COXSACKIE, N.Y., March 23, 2026--(BUSINESS WIRE)--Ballston Spa Bancorp, Inc. (OTCQX: BSPA), holding company for Ballston Spa National Bank (collectively "BSNB"), and NBC Bancorp, Inc. (OTCID: NCXS), holding company for The National Bank of Coxsackie (collectively "NBC"), today jointly announced that the pending strategic merger transaction received shareholder approval at each of BSNB’s and NBC’s special meeting of shareholders held on March 23, 2026.","length":500,"tagName":"p"},{"type":"text","content":"As previously announced on September 24, 2025, NCXS and The National Bank of Coxsackie will merge with and into BSPA and Ballston Spa National Bank, with BSPA and Ballston Spa National Bank each surviving the merger. At the effective time of the merger, each outstanding share of NBC common stock will be converted into the right to receive 0.8065 shares of BSNB such that BSNB shareholders will own approximately 66% of the combined company and NBC shareholders will own approximately 34%.","length":490,"tagName":"p"},{"type":"text","content":"The Companies had also previously announced receipt of all requisite regulatory approvals to complete the merger of the holding companies and the merger of the subsidiary banks.","length":177,"tagName":"p"},{"type":"text","content":"BSNB and NBC anticipate completing the merger on April 1, 2026, pending satisfaction of the remaining customary closing conditions set forth in the merger agreement between the companies.","length":187,"tagName":"p"},{"type":"text","content":"Forward Looking Statements","length":26,"tagName":"p"},{"type":"text...