Lake Shore Bancorp : Q3 Earnings Release

About this update from Lake Shore Bancorp, Inc.

Lake Shore Bancorp, Inc. Announces Third Quarter 2025 Financial Results DUNKIRK, N.Y. - October 22, 2025 - Lake Shore Bancorp, Inc. (the "Company") (NASDAQ: LSBK), the holding company for Lake Shore Bank (the "Bank"), reported unaudited net income of $2.4 million, or $0.32 per diluted share, for the third quarter of 2025 compared to net income of $1.3 million, or $0.18 per diluted share, for the third quarter of 2024. For the first nine months of 2025, the Company reported unaudited net income of $5.3 million, or $0.70 per diluted share, as compared to $3.5 million, or $0.46 per diluted share, for the first nine months of 2024. Earnings per share and other share information disclosed throughout reflect the effect of the Company's conversion and related stock offering. The Company's financial performance for the third quarter of 2025, when compared to the third quarter of 2024, was positively impacted by an increase in net interest income and non-interest income. "Our third-quarter and year-to-date 2025 financial results show ongoing improvements in efficiency and progress on strategic initiatives such as completion of the second step conversion, stated Kim C. Liddell, President, CEO, and Director. The current economic volatility has the potential to affect future market conditions and consumer confidence, and we stand committed to providing ongoing support to the communities we serve." Third Quarter 2025 and Year-to-Date Financial Highlights: Net income increased to $2.4 million during the third quarter of 2025, an increase of $1.0 million, or 77.1%, when compared to the third quarter of 2024. Net income was positively impacted by an increase in net interest income of $972,000, or 18.1%, when compared to the third quarter of 2024; Net income increased to $5.3 million during the first nine months of 2025, an increase of $1.9 million, or 54.1%, when compared to the first nine months of 2024. Net income was positively impacted by an increase in net interest income of $2.2 million, or 14.1%, and a decrease in non-interest expense of $360,000, or 2.4%, when compared to the first nine months of 2024; Net interest margin increased to 3.72% during the third quarter of 2025, an increase of 44 basis points when compared to net interest margin of 3.28% during the third quarter of 2024; Reduced reliance on wholesale funding by repaying $8.3 million of Federal Home Lo...

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