Lake Shore Bancorp : Q4 Earnings Release

About this update from Lake Shore Bancorp, Inc.

Lake Shore Announces Record Earnings for 2025 DUNKIRK, N.Y. - January 21, 2026 - 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 fourth quarter of 2025 compared to net income of $1.5 million, or $0.19 per diluted share, for the fourth quarter of 2024. For the year ended December 31, 2025, the Company reported unaudited net income of $7.3 million, or $0.97 per diluted share, as compared to $4.9 million, or $0.65 per diluted share, for the year ended December 31, 2024. The Company's 2025 financial performance was positively impacted by an increase in net interest income and a decrease in non-interest expenses. "Our fourth quarter and 2025 year-end results reflect the effectiveness of our strategies," stated Kim C. Liddell, President, CEO, and Director. "We increased core earnings, improved margins, strengthened the balance sheet, reduced borrowings and non-performing assets, and grew tangible book value. Our disciplined focus on prudent loan growth and core deposits positions us well for 2026 and delivering shareholder value." Fourth Quarter 2025 and Full Year Financial Highlights: Net income increased to $1.9 million during the fourth quarter of 2025, an increase of $465,000, or 31.7%, when compared to the fourth quarter of 2024 and increased to $7.3 million during the year ended December 31, 2025, an increase of $2.3 million, or 47.4%, when compared to the year ended December 31, 2024; Net interest margin increased to 3.85% during the fourth quarter of 2025, an increase of 13 basis points when compared to net interest margin of 3.72% during the third quarter of 2025. Net interest margin increased to 3.73% for the year ended December 31, 2025, an increase of 52 basis points when compared to net interest margin of 3.21% for the year ended December 31, 2024; Efficiency ratio improved to 69.21% for the year ended December 31, 2025, a decrease of 12.79% as compared to 82.00% for the year ended December 31, 2024; Reduced reliance on wholesale funding by repaying all outstanding borrowings at December 31, 2024 of $10.3 million during the year ended December 31, 2025; Book value per share increased 56.4% to $18.10 per share at December 31, 2025, as compared to $11.57 per share at December 31, 2024; Non-performing assets...

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