Lake Shore Bncop Stock Price, News & Analysis

Lake Shore Bancorp reported strong earnings for Q1 2023, with a net income of $1.7 million ($0.29 per diluted share), a significant increase of 58.7% from Q1 2022's $1.1 million ($0.18 per diluted share). The improvement was driven by a 15.1% rise in net interest income to $6.3 million and a decrease in provisions for credit losses. However, non-interest income fell by 24.3% to $554,000, primarily due to unrealized losses from interest rate swaps. Non-interest expenses increased 21.7% to $5.5 million, largely from legal and professional fees related to regulatory concerns. Total assets rose 4.3% year-to-date to $730.1 million, with an increase in deposits of $25.1 million.

Lake Shore Bancorp, Inc. (NASDAQ: LSBK) reported fourth quarter 2022 net income of $1.2 million ($0.20 per share), down 34.4% from $1.8 million ($0.31 per share) in Q4 2021. For the full year 2022, net income was $5.7 million ($0.97 per share), a decrease of 7.7% from $6.2 million ($1.05 per share) in 2021. The company saw a significant 10.9% growth in loans receivable, driven by commercial and residential real estate. Non-performing loans fell to 0.51% of total net loans. However, non-interest expenses increased by 29.8% in Q4 due to remediation costs tied to a formal agreement with regulators, impacting profitability.

Lake Shore Bancorp, Inc. (NASDAQ: LSBK) reported Q3 2022 net income of $1.8 million ($0.30 per diluted share), up 4.7% from Q3 2021. For the first nine months, net income climbed 3.3% to $4.5 million. Key drivers included a $508,000 increase in net interest income, totaling $6.3 million for Q3. Non-performing loans dropped to 0.53%, down from 1.86% at year-end 2021. Total assets decreased by 2.5% to $695.7 million, while stockholders' equity fell 11.2% to $78.2 million. The company declared a quarterly dividend of $0.18, yielding 5.4%.

Lake Shore Bancorp (NASDAQ: LSBK) reported a significant net income increase in Q2 2022, totaling $1.7 million ($0.29/share), up from $1.0 million ($0.17/share) in Q2 2021. First-half earnings reached $2.75 million ($0.47/share), a slight rise from $2.68 million ($0.45/share) in 2021. Key drivers included a 10.1% rise in net interest income and reduced loan loss provisions, despite increasing non-interest expenses. Non-performing loans dropped to 0.48%, enhancing asset quality. The board declared a $0.18 quarterly dividend, reflecting a yield of 5.2%. Total assets decreased by 2.7% to $694.5 million.

Lake Shore Bancorp reported a net income of $1.1 million ($0.18 per diluted share) for Q1 2022, down from $1.7 million ($0.29 per diluted share) in Q1 2021. Net interest income increased by 3.7% to $5.5 million, while net loans receivable grew 6.4% to $550.3 million. Total assets decreased 0.9% to $707.5 million, primarily due to reduced cash and cash equivalents. Non-interest income fell 10.7% to $732,000, influenced by rising interest rates. The company declared a quarterly cash dividend of $0.16 per share, reflecting a 4.4% dividend yield.