Provided By GlobeNewswire
Last update: Jul 25, 2024
DUNKIRK, N.Y., July 24, 2024 (GLOBE NEWSWIRE) -- Lake Shore Bancorp, Inc. (the “Company”) (NASDAQ: LSBK), the holding company for Lake Shore Savings Bank (the “Bank”), reported unaudited net income of $1.1 million, or $0.19 per diluted share, for the second quarter of 2024 compared to net income of $816,000, or $0.14 per diluted share, for the second quarter of 2023. For the first six months of 2024, the Company reported unaudited net income of $2.1 million, or $0.36 per diluted share, as compared to $2.5 million, or $0.43 per diluted share, for the first six months of 2023. The increase in net income during the second quarter of 2024 was primarily driven by a reduction in non-interest expense when compared to the second quarter of 2023. Furthermore, the Company reduced its reliance on wholesale funding by $23.0 million while growing organic deposits during the first half of 2024.
Read more at globenewswire.comNASDAQ:LSBK (8/15/2025, 8:00:00 PM)
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