Ballston Spa Bancorp Inc., parent
company of Ballston Spa National Bank reported
that net income for the year ending
December 31 increased to $2.2 million or $2.97
per share, up 1.4 percent from the $2.93 per
share reported in 2011.
Several factors contributed to the improved
performance including strong loan production,
increased non-interest income, and effective
cost management, company officials said.