Lake Shore Bancorp, Inc.
- Open
- 17.11
- Day high
- 17.11
- Day low
- 16.78
- Prev close
- 17.16
- Volume
- 14K
- Mkt cap
- $134M
- P/E (TTM)
- 15.8
- EPS (TTM)
- $1.08
- P/B
- 0.9
- P/S
- 3.3
- Yield
- 2.11%
- Per share
- $0.36
Lake Shore Bancorp, Inc. (LSBK) is a Financial Services company listed on NASDAQ. The stock is up 42% over the past year.
Lake Shore Bancorp, Inc. (LSBK) financials & analyst ratings
Fundamentals (TTM)
Source: exchange market data + company filings. Figures are trailing-twelve-month or as most recently reported. For informational purposes only — not investment advice.
LSBK earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| Apr 22, 2026 | — | $0.26 | — | $10M | — |
| Jan 21, 2026 | — | $0.26 | — | $10M | — |
| Oct 22, 2025 | — | $0.32 | — | — | — |
| Jul 23, 2025 | — | $0.34 | — | $10M | — |
| Apr 29, 2025 | — | $0.14 | — | $9M | — |
| Jan 29, 2025 | — | $0.13 | — | $10M | — |
| Oct 23, 2024 | — | $0.18 | — | $10M | — |
| Jul 24, 2024 | — | $0.14 | — | $9M | — |
| Mar 22, 2024 | — | $0.10 | — | $10M | — |
| Oct 26, 2023 | — | $0.20 | — | $9M | — |
| Jul 27, 2023 | — | $0.10 | — | $9M | — |
| Apr 27, 2023 | — | $0.21 | — | $9M | — |
LSBK insider trading activity (SEC Form 4)
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| Apr 25, 2025 | Werdein Jeffrey M.officer: EVP - Commercial Division | Tax | 223 | $14.46 |
| Mar 14, 2025 | LIDDELL KIM Cother: Dir., Pres. and CEO of Bank | Grant | 6,262 | — |
| Mar 14, 2025 | Gilden Taylor Mofficer: Chief Financial Officer | Grant | 2,743 | — |
| Mar 14, 2025 | Brautigam Sharon Edirector | Grant | 602 | — |
| Mar 14, 2025 | McGrath John Pdirector | Grant | 664 | — |
| Mar 14, 2025 | DeBergalis Michelle Mdirector | Grant | 478 | — |
| Mar 14, 2025 | Werdein Jeffrey M.officer: EVP - Commercial Division | Grant | 3,014 | — |
| Mar 14, 2025 | Segarra Ann Mdirector | Grant | 618 | — |
| Mar 14, 2025 | Sanvidge Kevin M.director, other: Chairman of the Board | Grant | 1,045 | — |
| Mar 14, 2025 | Passafaro Ronald Jdirector | Grant | 571 | — |
| Mar 14, 2025 | Mehltretter John Ldirector | Grant | 742 | — |
| Mar 3, 2025 | Werdein Jeffrey M.officer: EVP - Commercial Division | Tax | 1,282 | $16.17 |
| Mar 3, 2025 | Werdein Jeffrey M.officer: EVP - Commercial Division | Grant | 3,100 | — |
| Nov 5, 2024 | Sanvidge Kevin M.director, other: Chairman of the Board | Buy | 1,149 | $13.52 |
| Nov 5, 2024 | Sanvidge Kevin M.director, other: Chairman of the Board | Buy | 3,230 | $13.58 |
Source: LSBK SEC Form 4 filings, latest Apr 25, 2025. For informational purposes only — not investment advice.
See the full LSBK insider & 13F page →Lake Shore Bancorp, Inc. company profile
Overview
Lake Shore Bancorp, Inc. (NASDAQ:LSBK) is a regional bank holding company founded in 1891 and headquartered in Dunkirk, New York. The company operates as the parent organization of Lake Shore Savings Bank, which provides traditional banking services to individuals and small-to-medium businesses across Western New York. With over 130 years of banking history, Lake Shore Bancorp maintains eleven full-service branch locations concentrated in Chautauqua County and Erie County, New York. The bank represents a classic community banking model, serving local customers with personalized financial services while maintaining deep roots in its regional market.
Business
Lake Shore Bancorp operates in the regional banking industry, which involves collecting deposits from customers and lending those funds to borrowers while earning interest on the spread between what they pay depositors and what they charge borrowers. Regional banks like Lake Shore serve as financial intermediaries in their local communities, providing essential banking services that larger national banks may not offer with the same level of personal attention. The company's core business revolves around two primary activities: deposit gathering and loan origination. On the deposit side, Lake Shore accepts various types of customer deposits including regular savings accounts, Christmas Club accounts, money market accounts, checking accounts (both interest-bearing and non-interest bearing), health savings accounts, retirement accounts, and time deposits (certificates of deposit). These deposits form the bank's funding base, representing money that customers entrust to the bank for safekeeping while earning modest interest returns. On the lending side, Lake Shore's loan portfolio consists of several key segments. Commercial real estate loans represent a significant portion of their business, providing financing for office buildings, retail spaces, and other commercial properties. The bank also offers commercial construction loans for new development projects and commercial business loans including installment loans and lines of credit for working capital needs. For individual customers, Lake Shore provides residential mortgages for one-to-four family homes, home equity loans and lines of credit that allow homeowners to borrow against their property value, and various consumer loans including personal loans, vehicle financing, and property improvement loans. The bank's business model is geographically concentrated in Western New York, where it competes with other regional banks, credit unions, and branches of larger national banks. This local focus allows Lake Shore to develop deep relationships with customers and maintain detailed knowledge of local economic conditions, but also exposes the bank to regional economic risks.
Revenue model
Lake Shore Bancorp generates revenue primarily through net interest income, which is the difference between interest earned on loans and investments minus interest paid on deposits and borrowed funds. This represents the fundamental banking business model where the bank acts as a financial intermediary, borrowing money from depositors at lower rates and lending it out at higher rates. The bank's paying customers fall into two main categories: depositors who provide funding to the bank and borrowers who pay interest and fees for loans. Depositors include individuals saving for various purposes, small businesses maintaining operating accounts, and institutional customers. Borrowers encompass local businesses seeking commercial loans, real estate developers requiring construction financing, homeowners obtaining mortgages, and consumers needing personal loans. Secondary revenue sources include fee income from various banking services such as account maintenance fees, overdraft fees, loan origination fees, and other service charges. The bank may also generate income from investment securities and other non-interest sources, though these typically represent smaller portions of total revenue. Several factors significantly impact Lake Shore's profitability margins. Interest rate environment is the most critical factor - when rates rise, the bank can potentially earn more on new loans, but must also pay more on deposits. The bank's asset-liability duration mismatch creates interest rate risk, as loans typically have longer terms than deposits. Credit quality directly affects margins through loan loss provisions - economic downturns in Western New York could increase defaults and reduce profitability. Competition from other banks, credit unions, and online lenders can pressure both deposit rates (increasing funding costs) and loan rates (reducing interest income). Regulatory compliance costs represent a significant fixed expense that can pressure margins, particularly for smaller banks. Finally, local economic conditions in the bank's Western New York market directly impact loan demand, deposit flows, and credit quality.
Competitive moat
Lake Shore Bancorp operates with a modest competitive moat typical of small regional banks, primarily derived from local market relationships and switching costs rather than structural advantages. The bank's primary defensive characteristic is its customer relationship depth built over 130+ years of community presence. Long-standing customers often maintain multiple accounts and services with their local bank, creating modest switching costs and relationship stickiness. The bank benefits from local market knowledge that allows it to underwrite loans based on personal relationships and community understanding that larger banks may lack. This enables Lake Shore to serve customers who might not meet the standardized criteria of national banks, particularly small businesses and local real estate projects. The bank's personalized service model provides some differentiation from larger competitors who rely more heavily on automated systems and call centers. However, Lake Shore's moat is relatively weak compared to larger financial institutions. The bank lacks economies of scale that would allow it to spread fixed costs across a larger asset base, making it less efficient than regional or national competitors. Technology limitations constrain the bank's ability to offer sophisticated digital banking services that customers increasingly expect. The bank's geographic concentration in Western New York creates vulnerability to regional economic downturns that diversified competitors can better withstand. Competitive threats come from multiple directions. Larger regional banks can offer more comprehensive services, better technology platforms, and competitive pricing while still maintaining local presence. Credit unions enjoy tax advantages and member-ownership structures that allow them to offer better rates. Online banks provide higher deposit rates and lower fees without physical branch overhead. Fintech companies are unbundling traditional banking services, offering specialized lending, payments, and financial management tools. National banks continue expanding their digital capabilities and may acquire regional competitors. The banking industry's ongoing consolidation trend poses long-term risks to independent community banks like Lake Shore, as regulatory compliance costs and technology investments favor larger institutions with greater resources to spread these fixed expenses.
Risks & safety
Lake Shore Bancorp presents a moderate margin of safety with reasonable financial stability but limited growth prospects and exposure to interest rate and regional economic risks. • Solvency and Liquidity: The bank maintains adequate capital levels with a debt-to-equity ratio of 0.11, indicating conservative leverage. Cash and short-term investments of $33.1 million provide reasonable liquidity, though this represents only 4.8% of total assets. The bank generated positive free cash flow of $2.6 million in 2024. • Valuation Metrics: Trading at a price-to-book ratio of 0.86 suggests the stock trades below tangible book value, potentially offering downside protection. The price-to-earnings ratio of 15.7 appears reasonable for a regional bank. However, return on equity of 5.5% is modest, indicating limited profitability relative to shareholder equity. • Credit Quality: While specific loan loss data isn't provided, the bank's focus on local commercial real estate and small business lending creates concentration risk. The Western New York regional economy's performance directly impacts asset quality. • Interest Rate Risk: As a traditional bank with asset-liability duration mismatch, rising interest rates could pressure net interest margins if deposit costs increase faster than loan yields adjust. • Scale Disadvantages: With only $685 million in total assets, Lake Shore lacks the scale economies needed to effectively compete on technology and operational efficiency with larger institutions.
Recent development
Based on the available financial data, Lake Shore Bancorp has maintained relatively stable operations over the past few years, though specific strategic initiatives are not detailed due to the absence of earnings call transcripts. The bank's financial performance shows modest profitability consistency with net income ranging from $4.8 million to $5.7 million annually between 2022-2024, suggesting steady but limited growth. Asset base fluctuations indicate some balance sheet management activity, with total assets varying from $686 million to $725 million over the period. The bank's cash position management has been notably active, with cash and short-term investments fluctuating significantly from $54 million in Q1 2024 to $3.5 million in Q3 2024, then recovering to $33 million by Q4 2024, suggesting active liquidity management or investment repositioning. Revenue performance shows some volatility with 2024 total revenue of $34.8 million compared to $28.0 million in 2023, indicating either loan portfolio growth or interest rate environment benefits. The bank's return on equity has remained relatively stable around 5.5%, suggesting consistent but modest profitability relative to shareholder investment. Without detailed management commentary from earnings calls, it's difficult to identify specific strategic pivots or new product launches. However, the financial data suggests Lake Shore has focused on maintaining operational stability rather than pursuing aggressive growth strategies, which is typical for community banks prioritizing risk management over expansion during uncertain economic periods.
LSBK company profile · for informational purposes only — not investment advice.
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