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ballston spa bancorp inc (BSPA) Key Developments

Ballston Spa Bancorp, Inc. Reports Earnings Results for the First Quarter Ended March 31, 2014

Ballston Spa Bancorp, Inc. reported earnings results for the first quarter ended March 31, 2014. For the quarter, the company reported net income of $690,000 or $0.93 per share, down from the $996,000 or $1.34 per share reported for the same period in 2013. The company noted that earnings performance in the first quarter of 2013 was positively impacted by a large one-time gain on the sale of the bank's former operations center. Absent this transaction, financial results in 2014 were positively impacted by growth in trust and investment income, total deposits, and commercial and residential lending.

Ballston Spa Bancorp, Inc. Reports Earnings Results for the Year Ending December 31, 2013

Ballston Spa Bancorp, Inc. reported earnings results for the year ending December 31, 2013. For the year, the company reported that net income for the year ending December 31, 2013 increased to $2.6 million or $3.53 per share, up $18.8% from the $2.2 million or $2.97 per share reported in 2012. The improved earnings performance was attributable to several factors, including an increase in trust and investment income, growth in the commercial lending portfolio, and a sizeable one-time gain on the sale of the company's former operations center during the first quarter of 2013.

Ballston Spa Bancorp, Inc. Reports Earnings Results for the Nine Months Ended September 30, 2013

Ballston Spa Bancorp, Inc. reported earnings results for the nine months ended September 30, 2013. For the period, the company reported net income totaled $2.3 million or $3.10 per share, up 20% from the $1.9 million or $2.59 per share reported for the same period in 2012. The improved earnings performance is attributable to several factors including an increase in trust and investment income, growth in the commercial and residential lending portfolios, and a sizeable gain on the sale of the company's former operations center during the first quarter of 2013.

Ballston Spa Bancorp, Inc. Announces Unaudited Consolidated Financial Results for the Year Ended December 31, 2012

Ballston Spa Bancorp, Inc. announced unaudited consolidated financial results for the year ended December 31, 2012. For the year, the company reported net income of $2.205 million or $2.97 per basic share against $2.175 million or $2.93 per basic share a year ago. Book value per share as on December 31, 2012 was $35.75 against $34.08 a year ago. Tangible book value per share as on December 31, 2012 was $33.36 against $31.75 a year ago. Net interest income was $11.935 million against $12.257 million a year ago. Income before tax expense was $2.852 million against $2.810 million a year ago. Total interest and fee income was $14.559 million against $15.527 million a year ago. Net cash provided operating activities was $3.875 million against $2.584 million a year ago. Purchases of premises and equipment was $0.339 million against $7.111 million a year ago. Purchases of securities available for sale was $25.072 million against $11.421 million a year ago.

Ballston Spa Bancorp, Inc. Announces Consolidated Earnings Results for the Nine Months Ended September 30, 2012

Ballston Spa National Bank announced consolidated earnings results for the nine months ended September 30, 2012. For the period, the company reported total interest and fee income of $10,919,000 against $11,855,000 for the same period a year ago. Net interest income after provision for loan losses was $8,652,000 against $9,050,000 for the same period a year ago. Net income was $1,925,000 against $1,817,000 for the same period a year ago. Basic earnings per share were $2.59 against $2.45 for the same period a year ago. Income before income tax expense was $2,533,000 against $2,432,000 for the same period a year ago.

 

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