Lake Shore Bancorp, Inc. · NASDAQ:LSBK
Lake Shore Bancorp — Shareholder Meeting (May 2024)
22 slides from Lake Shore Bancorp's shareholder meeting presentation, May 22, 2024
Slide 1: Annual Shareholders' Meeting May 2024
ANNUAL SHAREHOLDERS’ MEETING May 2024
Slide 2: Safe Harbor Statement
Safe Harbor Statement This presentation contains certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, that are based on current expectations, estimates and projections about the Company’s and the Bank’s industry, and management’s beliefs and
Slide 3: Agenda
Agenda Call to Order – Kevin M. Sanvidge, Chairman Introduction of Officers, Directors and Director Nominees Secretary’s Report Presentation of Proposals Executive Management Report to Shareholders Vote Report Adjournment LAKE SHORE BANCORP, INC.
Slide 4: Board of Directors
Board of Directors LAKE SHORE BANCORP, INC. Director Since Kevin M. Sanvidge, Chairman of the Board, Compliance Committee Chairman 2012 Sharon E. Brautigam, Vice Chairperson of the Board, Nominating and Governance Committee Chairperson 2004 Michelle M. DeBergalis, Compensation and Nominating and Gov
Slide 5: Business of Annual Shareholders Meeting
Business of Annual Shareholders Meeting Election of Directors: Elect three Class One directors to serve until the 2027 annual meeting: Class One Directors John P. McGrath Ronald J. Passafaro Kim C. Liddell Elect one Class Two director to serve until the 2025 annual meeting: Class Two Director Ann M.
Slide 6: Business of Annual Shareholders Meeting (Continued)
Business of Annual Shareholders Meeting (Continued) Say on Pay Proposal: A non-binding “say on pay” proposal to approve the compensation of the named executive officers. Appointment of Independent Registered Public Accounting Firm: Ratify the appointment of Yount, Hyde & Barbour, P.C. as the Company
Slide 7: Executive Management Presentation
Executive Management Presentation Kim C. Liddell, President and Chief Executive Officer LAKE SHORE BANCORP, INC.
Slide 8: An Overview of Lake Shore Bancorp, Inc.
An Overview of Lake Shore Bancorp, Inc. Lake Shore Bancorp, Inc. operates as a mid-tier, federally chartered savings and loan holding company for Lake Shore Savings Bank, a federally chartered, community-oriented financial institution headquartered in Dunkirk, New York, with a longstanding history o
Slide 9: An Overview of Lake Shore Bancorp, Inc. (Continued)
An Overview of Lake Shore Bancorp, Inc. (Continued) LAKE SHORE BANCORP, INC. ESOP = 2.9% and total insider / director NEO = 2.6% (inclusive of stock options that can be exercised within 60 days of April 4, 2024 proxy) Book value per share is the same as tangible book value per share Note: Ownership
Slide 10: Financial Highlights
9 Financial Highlights LAKE SHORE BANCORP, INC. (1) Efficiency Ratio represents non-interest expense divided by the sum of net interest income and non-interest income Note: Financial data is presented for Lake Shore’s Fiscal Year Ended December 31 for each respective year or for Lake Shore’s quarter
Slide 11: Total Assets, Loans, Net Income, Deposit Trends
LAKE SHORE BANCORP, INC. Net income annualized for the quarter ended March 31, 2024 Construction loans are included in one-to-for family and commercial loan categories beginning in 2023. Inclusive of deferred fees and costs and allowance for credit losses. Note: Financial data is presented for Lake
Slide 12: Loan Loss Reserves and NPAs
Loan Loss Reserves / Total Net Loans LAKE SHORE BANCORP, INC. Note: Financial data is presented for Lake Shore’s Fiscal Year Ended December 31 for each respective year and for the three months ended March 31, 2024 NPAs / Total Assets
Slide 13: Total Loan Portfolio Composition
Total Loan Portfolio Composition LAKE SHORE BANCORP, INC. Includes one-to-for family construction loans Includes commercial construction loans Total Loans: $558,536 Total Loans: $558,068 Total Loans: $577,238
Slide 14: Commercial Loan Portfolio Concentration Analysis
Commercial Loan Portfolio Concentration Analysis LAKE SHORE BANCORP, INC. Total Commercial Loans: $333,532 Total Commercial Loans: $336,850 Total Commercial Loans: $348,087
Slide 15: Change in Deposit Mix
Change in Deposit Mix LAKE SHORE BANCORP, INC. Note: Uninsured deposits made up 12.6% of total deposits as of March 31, 2024 Total Deposits: $594,704 Total Deposits: $590,924 Total Deposits: $595,207
Slide 16: Net Interest Margin, ROA, Efficiency Ratio
Net Interest Margin LAKE SHORE BANCORP, INC. (1) Efficiency Ratio represents non-interest expense divided by the sum of net interest income and non-interest income Note: Financial data is presented for Lake Shore’s Fiscal Year Ended December 31 for each respective year and for the three months ended
Slide 17: Creating Shareholder Value
Creating Shareholder Value High capital ratios enable organic growth without diluting shareholder value Elected the Community Bank Leverage Ratio effective January 1, 2020 As of May 21, 2024, the implied annual dividend yield was 5.77% LAKE SHORE BANCORP, INC. (1) The tangible book value per share i
Slide 18: Summary
Summary After 133 years in business, we continue to be a local bank that cares about its customers and communities. At Lake Shore Savings, that has always meant “Putting People First.” We will continue to put our customers, communities, and shareholders FIRST, as we adopt new technology, products, a
Slide 19: Questions and Answers
QUESTIONS AND ANSWERS Ls Lake Shore Savings Putting People First...
Slide 20: Vote Report, Adjournment of Annual Shareholders' Meeting
Vote Report Adjournment of Annual Shareholder’ Meeting LAKE SHORE BANCORP, INC.
Slide 21: Appendix: Lake Shore Bancorp, Inc. Peer Data
Appendix: Lake Shore Bancorp, Inc. Peer Data LAKE SHORE BANCORP, INC. Note: Customized peer group displayed; financial data as of the most recent reported quarter Source: S&P Capital IQ Pro
Slide 22: Lake Shore, MHC Annual Meeting of Members
Lake Shore, MHC Annual Meeting of Members Call to Order Introduction of Proposal to Elect Directors Tabulation of Votes Adjournment LAKE SHORE BANCORP, INC.