LSBK Lake Shore Bancorp, Inc. featured news, full reports, and detailed charts
Lake Shore Bancorp, Inc. (LSBK) Wrap Up:
Lake Shore Bancorp, Inc. (“Lake Shore Bancorp,” “us,” or “we”) is a federally-chartered corporation organized in 2006 and is registered as a savings and loan holding company with the Office of Thrift Supervision (“OTS”). Lake Shore Bancorp serves as the holding company for Lake Shore Savings Bank (“Lake Shore Savings”). As of March 31, 2008, Lake Shore, MHC, a federal mutual holding company registered as a savings and loan holding company with the OTS, owned 57% of the outstanding shares of Lake Shore Bancorp’s common stock. Our common stock is quoted on the Nasdaq Global Market under the symbol “LSBK.” Unless the context otherwise requires, all references herein to Lake Shore Bancorp or Lake Shore Savings include Lake Shore Bancorp and Lake Shore Savings on a consolidated basis. Lake Shore, MHC does not engage in any business activity other than its investment in a majority of the common stock of Lake Shore Bancorp. ... More..."http://secfilings.nasdaq.com/edgar_conv_html%2f2008%2f03%2f31%2f0001193125-08-070790.html#FIS_BUSINESS"89 Employees
Lake Shore Bancorp Inc. (LSBK:NASDAQ)
LAST $7.60 USD
CHANGE TODAY 0.00 0.00%
VOLUME 11.9K
As of 1:46 PM 11/20/09 All times are local (Market data by Reuters is delayed by at least 15 minutes).
Snapshot of Lake Shore Bancorp Inc. (LSBK)
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OPEN
$7.60
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PREVIOUS CLOSE
$7.60
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DAY HIGH
$7.60
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DAY LOW
$7.55
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52 WEEK HIGH
12/11/08 - $8.80
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52 WEEK LOW
02/23/09 - $4.31
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MARKET CAP
46.9M
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AVERAGE VOLUME 3 mo
6.2K
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DILUTED EPS TTM
$0.37
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SHARES OUTSTANDING
6.2M
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EX-DATE
10/28/09
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P/E TTM
20.3x
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DIVIDEND
$0.20
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DIVIDEND YIELD
2.63%
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| K = Thousands M = Millions B = Billions | ||
LSBK Top Compensated Officers
Mr. David C. Mancuso
Chief Executive Officer, President, Director,...
Age: 63
Total Annual Compensation: $255.0K
Ms. Rachel A. Foley
Chief Financial Officer, Principal Accounting...
Age: 40
Total Annual Compensation: $123.0K
Executives, Board Directors
Compensation as of Fiscal Year 2008.
Key developments for Lake Shore Bancorp Inc. (LSBK)
Lake Shore Bancorp Inc. Reports Unaudited Earnings Results for the Third Quarter and Nine Months Ended September 30, 2009 ; Opens its Tenth Branch Office in April 2010
10/30/2009
Lake Shore Bancorp Inc. reported unaudited earnings results for the third quarter and nine months ended September 30, 2009. For the quarter, the company reported net income of $602,000 or $0.10 basic and diluted earnings per share on net interest income of $2,942,000 compared to net income of $867,000 or $0.14 basic and diluted earnings per share on net interest income of $2,869,000 for the same period a year ago. Income before income taxes was $773,000 compared to $1,016,000 for the same period a year ago. Return on average assets was 0.57% and return on average equity was 4.40% compared to return on average assets of 0.90% and return on average equity of 6.57% for the same period a year ago. For nine months, the company reported net income of $1,361,000 or $0.23 basic and diluted earnings per share on net interest income of $8,566,000 compared to net income of $599,000 or $0.10 basic and diluted earnings per share on net interest income of $8,036,000 for the same period a year ago. Income before income taxes was $1,739,000 compared to $718,000 for the same period a year ago. Return on average assets was 0.44% and return on average equity was 3.33% compared to return on average assets of 0.21% and return on average equity of 1.49% for the same period a year ago. The decrease in net income was partially due to an increase in FDIC assessments of $567,000 as a result of changes in premiums mandated by the FDIC, a one time special assessment imposed during the second quarter of 2009, and the application of one-time assessment credits granted by the FDIC in 2007 against 2008 premiums. The company's results also reflect the sale of its interest rate floor derivative product in the first quarter of 2009. During the nine month period ended September 30, 2008, the company had earned $329,000 more than the amount earned during the same period in 2009. The company also announced that it has entered into an agreement to lease a building located on Dick Road in Depew, New York which formerly housed a First Niagara Bank branch. The company currently anticipates opening its tenth branch office at this location in April 2010.
Lake Shore Bancorp Inc. Appoints Daniel P. Reininga as Chief Operating Officer, Effective January 1, 2010
10/23/2009
On October 21, 2009, Lake Shore Bancorp Inc. announced the appointment of Daniel P. Reininga as Chief Operating Officer, effective January 1, 2010. Mr. Reininga, 50, is currently the Vice Chairman of the company's Board of Directors and will retain his position on the Board while holding the position of Chief Operating Officer. He has served on the Board since 1994 and his current term will expire in 2011. Mr. Reininga is also the President of G.H. Graf Realty Corporation, Inc.
Lake Shore Bancorp Inc. Announces Quarterly Cash Dividend, Payable on November 13, 2009
10/14/2009
Lake Shore Bancorp Inc. announced that its board of directors declared a quarterly cash dividend of $0.05 per share on its outstanding common stock. The dividend is payable on November 13, 2009 to the company's shareholders of record as of October 30, 2009.
LSBK Competitors
| Company | Last | Change |
| Cheviot Financial Corp | $7.33 USD | +0.16 |
| Greene County Bancorp Inc | $14.59 USD | 0.00 |
| MSB Financial Corp | $8.40 USD | 0.00 |
| United Community Bancorp | $6.55 USD | -0.17 |
| William Penn Bancorp Inc | $13.50 USD | 0.00 |
| Market data is delayed at least 20 minutes. | ||
Industry Analysis
| Valuation | LSBK | Industry Range |
| Price/Earnings | 19.9x |
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| Price/Sales | 3.3x |
Not meaningful
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| Price/Book | 0.8x |
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| Price/Cash Flow | 21.0x |
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| TEV/Sales | NM | Not Meaningful |
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LSBK |
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LSBK transactions
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| No transactions in the last 6 months. | ||
More Recent News About Lake Shore Bancorp, Inc.
More news for LSBK
LAKE SHORE BANCORP, INC. Financials
PERIOD ENDING30-Jun-0931-Mar-0931-Dec-0830-Sep-08Total Revenue5,508 5,413 5,918 5,715 Cost of Revenue1,586 1,579 1,589 1,591 Gross Profit3,922 3,834 4,329 4,124 Operating ExpensesResearch Development - - - - Selling General and Administrative2,966 2,677 2,394 2,388 Non Recurring - - 1,934 - Others40 120 (1,641)150 Total Operating Expenses - - - - Operating Income or Loss916 1,037 1,642 1,586 Income from Continuing OperationsTotal Other Income/Expenses Net - - - - Earnings Before Interest And Taxes916 1,037 1,642 1,586 Interest Expense485 502 548 570 Income Before Tax431 535 1,094 1,016 Income Tax Expense77 130 223 149 Minority Interest - - - - Net Income From Continuing Ops354 405 871 867 Non-recurring EventsDiscontinued Operations - - - - Extraordinary Items - - - - Effect Of Accounting Cha...Click here to read the whole Article (external link)
LAKE SHORE BANCORP, INC. Files SEC form 10-Q, Quarterly Report
Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations Forward-Looking Statements This Quarterly Report on Form 10-Q contains certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements may be identified by words such as "believe," "will," "expect," "project," "may," "could," "anticipate," "estimate," "intend," "plan," "targets" and similar expressions. These statements are based upon our current beliefs and expectations and are subject to significant risks and uncertainties. Actual results may differ materially from those set forth in the forward-looking statements as a result of numerous factors. The following factors, including the factors set forth in Part I, Item 1A of the Company's Annual Report on Form 10-K for the year ended December 31, 2008, among others, could cause actual results to differ materially from the anticipated results or other expectations expressed in our forward-looking statements: • general and local economic conditions; • changes in interest rates, deposit flows, demand for mortgages and other loans, real estate values and competition; • the ability of our customers to make loan payments; • our ability to continue to control costs and expenses; • our ability to effectively deploy the capital raised in our April 2006 initial public offering; • changes in accounting principles, policies or guidelines; • our success in managing the risks involved in our business; • inflation, and market and monetary fluctuations; • changes in legislation or regulation; and • other economic, competitive, governmental, regulatory and technological factors affecting our operations, pricing, products and services. Any or all of our forward-looking ...Click here to read the whole Article (external link)
LAKE SHORE BANCORP, INC. Files SEC form 8-K, Results of Operations and Financial Condition, Financial Statements and
Show all filings for LAKE SHORE BANCORP, INC. | Request a Trial to NEW EDGAR Online Pro Form 8-K for LAKE SHORE BANCORP, INC. 4-Aug-2009Results of Operations and Financial Condition, Financial Statements and Copyright © 2009 Yahoo! Inc. All rights reserved. Privacy Policy - Terms of Service - Copyright/IP Policy - Send Feedback SEC Filing data and information provided by EDGAR Online, Inc. (1-800-416-6651). All information pr...Click here to read the whole Article (external link)
Lake Shore Bancorp, Inc. Announces Quarterly Cash Dividend
DUNKIRK, N.Y.--(BUSINESS WIRE)--Lake Shore Bancorp, Inc. (the “Companyâ€) (NASDAQ Global Market: LSBK), the holding company for Lake Shore Savings Bank (the “Bankâ€), announced today that its Board of Directors declared a quarterly cash dividend of $0.05 per share on its outstanding common stock. The dividend is payable on November 13, 2009 to the Company’s shareholders of record as of October 30, 2009. The Company is the majority-owned subsidiary of Lake Shore, MHC, a federal mutual holding company which owned 59.0% of the Company’s outstanding shares as of September 30, 2009. Lake Shore, MHC has filed a regulatory notice of its intent to waive dividends paid on the shares of the Company it owns. Lake Shore Bancorp is the parent company of Lake Shore Savings Bank, a community-oriented financial institution operating nine full-service branch locations in western New York offering a broad array of retail and commercial lending and deposit services. Traded on the NASDAQ Global Market as LSBK, Lake Shore Bancorp can also be found on the web at www.lakeshoresavings.com.This release 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...Click here to read the whole Article (external link)
LAKE SHORE BANCORP, INC. Files SEC form 8-K, Other Events, Financial Statements and Exhibits
Show all filings for LAKE SHORE BANCORP, INC. | Request a Trial to NEW EDGAR Online Pro Form 8-K for LAKE SHORE BANCORP, INC. 14-Oct-2009Other Events, Financial Statements and Exhibits Copyright © 2009 Yahoo! Inc. All rights reserved. Privacy Policy - Terms of Service - Copyright/IP Policy - Send Feedback SEC Filing data and information provided by EDGAR Online, Inc. (1-800-416-6651). All information provided "as is" for info...Click here to read the whole Article (external link)
Lake Shore Bancorp, Inc. Announces Third Quarter Earnings, Lease of Building for New Branch, and Appointment of Chief Operating Officer
DUNKIRK, N.Y.--(BUSINESS WIRE)-- OverviewLake Shore Bancorp, Inc. (the “Companyâ€) (NASDAQ Global Market: LSBK), the holding company for Lake Shore Savings Bank (the “Bankâ€), reported net income for the quarter ended September 30, 2009 of $602,000, or $0.10 per diluted share compared to net income of $867,000, or $0.14 per diluted share for the quarter ended September 30, 2008. Net income during the 2008 period included $179,000 in earnings on an interest rate floor derivative product that was sold in January 2009. Excluding the 2008 earnings on the interest rate floor derivative product, net income for the quarter ended September 30, 2009 decreased by $86,000, or 12.5%, in comparison to the 2008 period. Net income during the 2009 period was impacted by an FDIC assessment of $103,000 compared to an assessment of $10,000 for the quarter ended September 30, 2008. The increase was the result of changes in premiums mandated by the FDIC and the application of one-time assessment credits granted by the FDIC in 2007 against 2008 premiums. Net income during the 2009 period was also impacted by salary and employee benefit costs which increased by $214,000 for the quarter ended September 30, 2009 compared to the 2008 period partly due to receipt of $71,000 in credits for 401(k) plan forfeitures during the third quarter of 2008. The remaining increase in salary and employee benefit cost was due to annual raises, increased health insurance costs and additional staff needed to open a new branch office in Kenmore, New York on December 1, 2008.“ “We anticipate our Kenmore branch office will become profitable within the next 18 months and provide ...Click here to read the whole Article (external link)
LAKE SHORE BANCORP, INC. Files SEC form 8-K, Results of Operations and Financial Condition, Financial Statements and
Show all filings for LAKE SHORE BANCORP, INC. | Request a Trial to NEW EDGAR Online Pro Form 8-K for LAKE SHORE BANCORP, INC. 30-Oct-2009Results of Operations and Financial Condition, Financial Statements and Copyright © 2009 Yahoo! Inc. All rights reserved. Privacy Policy - Terms of Service - Copyright/IP Policy - Send Feedback SEC Filing data and information provided by EDGAR Online, Inc. (1-800-416-6651). All information p...Click here to read the whole Article (external link)
Lake Shore earnings take 3Q hit
Lake Shore Bancorp Inc. reported a net income of $602,000, or 10 cents per share, for the third quarter of 2009. That is down 30.5 percent compared with last year’s net income of $867,000, or 14 cents per share, in the comparable period. The Dunkirk-based parent company of Lake Shore Savings Bank said the decrease stems from a Federal Deposit Insurance Corp. special assessment of $103,000, as well as $214,000 in annual salary raises, higher health-insurance costs and additional personnel to staff the Kenmore branch. “Even though earnings were lower this quarter compared to the same period last year, our bank operations have continued to show positive results,” Lake Shore President and CEO David Mancuso said in a statement. “Our year to date loan originations are at record levels and our deposit share in Erie County continues to increase. We anticipate our Kenmore branch office will become profitable within the next 18 months and provide a bottom-line impact to our financial performance.” Loan interest income also dropped, from $3.6 million for the period ending Sept. 30, 2009 to $97,000 for the most recent third quarter. The banking company said the decline was due to the sale of its interest rate floor derivative product during the first quarter of 2009. Non-performing assets, meanwhile, rose 56.2 percent year over year, from $1.6 million a year ago to $2.5 million as of Sept. 30, 2009. But the bank’s loan-loss provisions went down to $95,000, compared with $150,000 in September 2008...Click here to read the whole Article (external link)
LAKE SHORE BANCORP, INC. Files SEC form 10-Q, Quarterly Report
Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations Forward-Looking Statements This Quarterly Report on Form 10-Q contains certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements may be identified by words such as "believe," "will," "expect," "project," "may," "could," "anticipate," "estimate," "intend," "plan," "targets" and similar expressions. These statements are based upon our current beliefs and expectations and are subject to significant risks and uncertainties. Actual results may differ materially from those set forth in the forward-looking statements as a result of numerous factors. The following factors, including the factors set forth in Part I, Item 1A of the Company's Annual Report on Form 10-K for the year ended December 31, 2008, among others, could cause actual results to differ materially from the anticipated results or other expectations expressed in our forward-looking statements: † general and local economic conditions; † changes in interest rates, deposit flows, demand for mortgages and other loans, real estate values and competition; † the ability of our customers to make loan payments; † our ability to continue to control costs and expenses; † changes in accounting principles, policies or guidelines; † our success in managing the risks involved in our business; † inflation, and market and monetary fluctuations; † changes in legislation or regulation; and † other economic, competitive, governmental, regulatory and technological factors affecting our operations, pricing, products and services. Any or all of our forward-looking statements in this Quarterly Report on Form 10-Q and in any other public statements we make may differ from actual outcomes. They can b...Click here to read the whole Article (external link)
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