Lake Shore Bncop Stock Price, News & Analysis

Lake Shore Bancorp, Inc. (NASDAQ: LSBK) announced a cash dividend of $0.16 per share on February 11, 2022, payable on March 17, 2022, to shareholders of record by February 24, 2022. With a closing stock price of $14.86, this results in an implied dividend yield of 4.31%. Additionally, members of Lake Shore, MHC approved a waiver for dividend rights for the next 12 months, allowing better resource utilization for community banking needs. The waiver received over 96.1% approval from voting members.

Lake Shore Bancorp (NASDAQ: LSBK) reported a fourth quarter 2021 net income of $1.8 million ($0.31/share), reflecting a 46.0% increase from Q4 2020. For 2021, net income totaled $6.2 million ($1.05/share), up 35.8% from 2020. Key highlights include a 4.1% rise in total assets to $714.1 million, and total deposits increased by 6.0% to $593.7 million. Cash dividends rose by 10.2% to $0.54/share. However, non-performing loans rose to 1.86% of total net loans from 0.59% in 2020.

Lake Shore Bancorp reported a net income of $1.7 million, or $0.29 per diluted share, for Q3 2021, marking a 37.4% increase from Q3 2020. Year-to-date, net income reached $4.4 million, a 31.9% increase. Key highlights include a 5.6% growth in total deposits, totaling $591.8 million, and a 3.4% increase in total assets to $709.3 million. The Company declared a quarterly dividend of $0.14 per share. Improvements were noted in net interest income, driven by an increase in interest-earning assets, although non-interest expenses rose due to technology upgrades.

Lake Shore Bancorp reported Q2 2021 unaudited net income of $1.0 million ($0.17/share), a 26.6% decrease from $1.4 million ($0.23/share) in Q2 2020. Year-to-date net income is $2.7 million ($0.45/share), up 28.6% from $2.1 million ($0.35/share) in 2020. Total assets rose 3.6% to $710.9 million. Loans net increased 4.2% to $546.4 million, while non-performing loans decreased to 0.47%. The company declared a quarterly dividend of $0.14 per share, yielding 3.8%. Increased non-interest expenses affected Q2 results, mainly due to a core processing system upgrade.

Lake Shore Bancorp, Inc. (NASDAQ: LSBK) reported a strong first quarter of 2021, achieving a net income of $1.7 million, or $0.29 per diluted share, a 130.9% increase from $731,000, or $0.12 per diluted share, in Q1 2020. Key highlights include a 2.7% growth in loans, reaching $538.2 million, and a 4.0% increase in total deposits, totaling $582.6 million. Non-interest income surged 80.2% to $820,000, largely due to unrealized gains and loan sales. The company also declared a quarterly cash dividend of $0.13 per share.

Lake Shore Bancorp (NASDAQ: LSBK) announced a cash dividend of $0.13 per share, payable on March 15, 2021, to shareholders of record as of February 26, 2021. With the stock's closing price of $13.50 on February 3, the implied yield is 3.85%. Additionally, a proposal was approved for Lake Shore, MHC to waive its right to receive dividends for the next year, aiming to preserve capital to meet customer needs. The MHC holds about 62.5% of the company’s stock.

Lake Shore Bancorp reported a net income of $1.24 million for Q4 2020, up 6.1% from Q4 2019, and $4.6 million for the full year, marking an 11.5% growth year-over-year. Total assets increased by 12.3% to $686.2 million, with total deposits rising 15.9% to $560.3 million. The provision for loan losses was $1.6 million, reflecting economic uncertainties due to COVID-19. The company maintained a sustainable capital position, ending the year with an EPS growth of 13.2% and a book value of $14.75.

Lake Shore Bancorp, Inc. (NASDAQ: LSBK) reported third-quarter 2020 net income of $1.23 million, or $0.21 per diluted share, up from $1.21 million, or $0.20 per diluted share in Q3 2019. For the first nine months, net income rose to $3.3 million, or $0.56 per diluted share, from $2.9 million, or $0.48 per diluted share in 2019. Total assets increased by 11.8% to $682.7 million, with total deposits growing 14.9% to $555.5 million. The Company declared a quarterly dividend of $0.13 per share, reflecting a 4.1% yield.

Lake Shore Bancorp reported a net income of $1.4 million ($0.23 per diluted share) for Q2 2020, up from $805,000 ($0.13 per diluted share) in Q2 2019. Year-to-date, net income reached $2.1 million ($0.35 per diluted share), improving from $1.7 million ($0.28 per diluted share) in the same period of 2019. The bank originated 245 SBA PPP loans totaling $26.2 million, supporting over 3,300 jobs. Total assets increased to $677.8 million, while deposits rose by 13.9% to $550.5 million due to PPP funds. A $0.12 dividend was declared, yielding 4.0%.