Ballston Spa Bancorp Inc., holding company for Ballston Spa National Bank, and NBC Bancorp Inc., holding company for The National Bank of Coxsackie, jointly announced a strategic merger of equals whereby the banks will combine forces and create a $1.3 billion community bank serving the greater Capital District and surrounding markets. The combined bank will conduct business under the BSNB charter, with the NBC locations known as "Coxsackie Bank, a division of Ballston Spa National Bank."

The combined company's Board of Directors will consist of nine directors from BSNB and four directors from NBC. Richard P. Sleasman, the current Chairman of BSNB's Board of Directors, will serve as Chairperson of the Board of the combined company and the combined bank.

Christopher R. Dowd, the current President and CEO of BSNB, will serve as Chief Executive Officer, and John A. Balli, the current President and CEO of NBC, will become President of the combined bank. James Dodd, current EVP and Chief Financial Officer of BSNB, and Jim Conroy, EVP and Chief Banking Officer of BSNB, will remain in their current positions. Caitlin McCrea, SVP and Chief Financial Officer of NBC, will become SVP of Finance and Treasurer for the combined bank.

"In addition to the elevated presence in our communities, the combined company will have a larger market capitalization, greater lending limit and increased visibility and liquidity, unlocking value for both sets of shareholders," stated Christopher R. Dowd. "Consumers and businesses in the Capital Region have a demonstrated need for personalized service, greater flexibility and diversity in products. Together, we can address those needs faster and more effectively."