Lake Shore Bancorp, Inc. Reports Earnings Results for the Fourth Quarter Ended December 31, 2019
January 30, 2020 at 08:37 pm IST
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Lake Shore Bancorp, Inc. announced earnings results for the fourth quarter ended December 31, 2019. For the fourth quarter, the company announced net interest income was USD 4.896 million compared to USD 4.660 million a year ago. Net income was USD 1.172 million compared to USD 1.000 million a year ago. Basic earnings per share from continuing operations was USD 0.2 compared to USD 0.17 a year ago. For the full year, net interest income was USD 19.070 million compared to USD 17.934 million a year ago. Net income was USD 4.087 million compared to USD 4.000 million a year ago. Basic earnings per share from continuing operations was USD 0.68 compared to USD 0.66 a year ago.
Lake Shore Bancorp, Inc. is the mid-tier holding company of Lake Shore Savings Bank (the Bank), a federally chartered, community-oriented financial institution headquartered in Dunkirk, New York. The Bank has 11 full-service branch locations in Western New York, including five in Chautauqua County and six in Erie County. The Bank offers a range of retail and commercial lending and deposit services. The Bankâs principal business consists of attracting retail deposits from the general public in the areas surrounding its branch offices and investing those deposits, together with funds generated from operations, primarily in commercial real estate loans, one-to four-family residential mortgage loans, home equity lines of credit and, to a lesser extent, commercial business loans, consumer loans, and investment securities. Its primary sources of funds for lending and investments are deposits, borrowings, brokered deposits, receipts of principal and interest payments on loans and securities.
LAKE SHORE BANCORP, INC. 
