Lake Shore Announces First Quarter 2026 Financial Results

About this update from Lake Shore Bancorp, Inc.

DUNKIRK, N.Y., April 22, 2026 (GLOBE NEWSWIRE) -- Lake Shore Bancorp, Inc. (the “Company”) (NASDAQ: LSBK), the holding company for Lake Shore Bank (the “Bank”), reported unaudited net income of $1.9 million, or $0.26 per diluted share, for the first quarter of 2026 compared to net income of $1.1 million, or $0.14 per diluted share, for the first quarter of 2025. The Company's financial performance for the first quarter of 2026 was positively impacted primarily by an increase in net interest income. "The results from the first quarter reflected a typical beginning of the year for our company," stated Kim C. Liddell, President, CEO, and Director. "Despite intense competition and challenging loan pricing environments, we remain dedicated to optimizing our balance sheet and operational efficiencies to enhance the Company’s overall performance." First Quarter 2026 Financial Highlights: Net Interest Income Net interest income for the first quarter of 2026 increased by $38,000, or 0.6%, to $6.7 million as compared to $6.6 million for the fourth quarter of 2025 and increased $1.2 million, or 21.9%, as compared to $5.5 million for the first quarter of 2025. Net interest margin and interest rate spread were 4.02% and 3.43%, respectively, for the first quarter of 2026 as compared to 3.85% and 3.22%, respectively, for the fourth quarter of 2025 and 3.49% and 2.94%, respectively, for the first quarter of 2025. Interest income for the first quarter of 2026 was $9.1 million, a decrease of $402,000, or 4.3%, compared to $9.5 million for the fourth quarter of 2025, and an increase of $688,000, or 8.2%, compared to $8.4 million for the first quarter of 2025. The decrease in interest income from the prior quarter was primarily due to a $26.1 million, or 3.8%, decrease in the average balance of interest-earning assets and a three basis point decrease in the average yield on interest-earning assets. Interest earned on interest-earning deposits decreased by $283,000, or 37.6%, due to a $23.1 million decrease in the average balance of interest-earning deposits and a 43 basis point decrease in average yield on interest-earning deposits during the first quarter of 2026 as compared to the prior quarter. The increase in interest income from the prior year quarter was primarily due to a $35.3 million, or 5.6%, increase in the average balance of interest-earni...

View stock analysis, news, and events for Lake Shore Bancorp, Inc.