Lake Shore Bancorp, INC 8-K filings

Lake Shore Bancorp announces a rise in net income for both the fourth quarter and the full year of 2024, driven by expense optimization and reduced reliance on wholesale funding.

Lake Shore Bancorp has updated the employment and retirement agreements for its President and CEO, Kim C. Liddell, with a new three-year employment contract and a revised supplemental retirement plan.

Lake Shore Savings Bank has successfully terminated its Consent Order with the Office of the Comptroller of the Currency (OCC) and exited Troubled Condition status.

Lake Shore Bancorp has announced a cash dividend of $0.18 per share, payable on November 8, 2024, to shareholders of record on November 4, 2024.

Lake Shore Bancorp's third quarter 2024 net income increased to $1.3 million, driven by higher net interest income and lower non-interest expenses.

Lake Shore Bancorp has announced a cash dividend of $0.18 per share for its outstanding common stock, payable on August 16, 2024.

Lake Shore Bancorp's second quarter net income increased to $1.1 million, or $0.19 per diluted share, driven by a reduction in non-interest expenses.

Lake Shore Bancorp's subsidiary, Lake Shore Savings Bank, has entered into a new three-year employment agreement and a supplemental executive retirement plan with its President and CEO, Kim C. Liddell.

Lake Shore Bancorp held its annual shareholder meeting on May 22, 2024, where directors were elected, executive compensation was approved on an advisory basis, and the company's auditor was ratified.

Lake Shore Bancorp held its annual shareholders meeting on May 22, 2024, presenting an overview of the company's performance, strategic direction, and key financial metrics.

Lake Shore Bancorp has received approval to pay a $0.18 per share cash dividend and its mutual holding company parent has agreed to waive dividends on its shares.

Lake Shore Bancorp's first quarter 2024 net income decreased by 39.8% compared to the same period last year, primarily due to a decline in net interest income.

Lake Shore Bancorp officially dismissed Baker Tilly as their independent auditor on March 22, 2024, following the completion of the 2023 fiscal year audit.

Lake Shore Bancorp's majority shareholder, Lake Shore, MHC, will hold a special meeting to vote on waiving its right to receive up to $0.72 per share in dividends, potentially paving the way for the company to resume dividend payments.

Lake Shore Bancorp's net income decreased in both the fourth quarter and full year of 2023, primarily due to increased non-interest expenses related to regulatory matters and a challenging interest rate environment.