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LSBK on Nasdaq

Lake Shore Bancorp, Inc. /MD/

American savings institution company, incorporated in Maryland1

In its 2026 annual report the company says: “Lake Shore Bancorp, Inc. operates as the parent holding company of Lake Shore Bank. Our common stock is traded on the Nasdaq Global Market under the symbol “LSBK”.”3 It is headquartered in Dunkirk, New York.1

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Last updated Oct 21, 2026.

Overview

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  • TickerLSBK on Nasdaq1
  • IndustrySavings Institution, Federally Chartered1
  • HeadquartersDunkirk, New York1
  • Incorporated inMD2
  • Business address31 East Fourth Street, Dunkirk, Ny 140482
  • Filer categoryNon-accelerated filer, Smaller reporting company2

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Lake Shore Bancorp, Inc. (“Lake Shore Bancorp,” the “Company,” “us,” or “we”) operates as the parent holding company of Lake Shore Bank (the "Bank"). Our common stock is traded on the Nasdaq Global Market under the symbol “LSBK”. Unless the context otherwise requires, all references herein to Lake Shore Bancorp or Lake Shore Bank include Lake Shore Bancorp and Lake Shore Bank on a consolidated basis.3 From its latest annual report

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Financial statements

Net income4$7.3M in 2025+47% since 2024
0$2.0M$4.0M$6.0M$8.0M2024: $4.9M$4.9M20242025: $7.3M$7.3M2025+47%

Every line of the income statement as filed: the last 2 fiscal years, latest first.4

Period ending2025-12-312024-12-31
Loans, including fees$32.8M$30.7M
Investment securities, taxable$643.0K$765.0K
Investment securities, tax-exempt$830.0K$866.0K
Interest-earning deposits$2.0M$2.5M
Total Interest Income$36.3M$34.8M
Deposits$11.6M$13.1M
Long-term debt$108.0K$621.0K
Finance Lease and Other$60.0K$43.0K
Total Interest Expense$11.7M$13.7M
Net Interest Income$24.6M$21.1M
Provision for Credit Losses-$180.0K-$1.5M
Net Interest Income After Provision for Credit Losses$24.7M$22.5M
Service charges and fees$1.1M$1.1M
Debit card fees$780.0K$816.0K
Earnings on bank-owned life insurance$1.1M$1.1M
Gains on equity securities$150.0K$54.0K
Recovery on previously impaired investment securities$4.0K$6.0K
Gain on sale of securities available for sale$10.0K
Earnings on annuity assets$58.0K$161.0K
Other$68.0K$89.0K
Total Non-Interest Income$3.3M$3.3M
Salaries and employee benefits$11.6M$11.5M
Occupancy and equipment$2.6M$2.7M
Data processing$1.9M$1.8M
Professional services$1.1M$1.4M
Telephone and communications$321.0K$434.0K
FDIC insurance$303.0K$796.0K
Postage and supplies$310.0K$276.0K
Advertising$58.0K$94.0K
Other$1.0M$976.0K
Total Non-Interest Expense$19.3M$20.0M
Income before Income Taxes$8.8M$5.9M
Income Tax Expense$1.5M$935.0K
Net Income$7.3M$4.9M
Earnings Per Common Share: Basic$0.97$0.65
Earnings Per Common Share: Diluted$0.97$0.65
Dividends declared per share$0.31$0.40

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Corporate structure

Lake Shore Bancorp, Inc. /MD/ sits at the top of its group. 1 entity, 1 country on record. Switch between the flow chart and the network, and select any entity to see its details.

Major holders of Lake Shore Bancorp, Inc. /MD/

  • Lake Shore Bancorp, Inc. /MD/ Dunkirk, New York

Built from major holders from Schedules 13D and 13G. Each entity in the chart links to its source.

What it owns

What Lake Shore Bancorp, Inc. /MD/ reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.

Property and equipment

ItemLatestA year beforeChange
Property and equipment, before depreciation$22.3M4 Dec 31, 2025$22.1M4 Dec 31, 2024+1.3%
Accumulated depreciation$15.3M4 Dec 31, 2025$14.8M4 Dec 31, 2024+3.1%
Property and equipment, net$7.0M4 Dec 31, 2025$7.2M4 Dec 31, 2024−2.3%
Operating-lease assets (leased space)$759.0K4 Dec 31, 2025$938.0K4 Dec 31, 2024−19.1%

Investments

ItemLatestA year beforeChange
Cash and cash equivalents$64.3M4 Dec 31, 2025$33.1M4 Dec 31, 2024+94.0%
Deposits held (banks)$573.3M4 Dec 31, 2025$573.0M4 Dec 31, 2024+0.1%

Properties, in its own words

We conduct our business through our corporate headquarters, administrative offices, and ten branch offices. At December 31, 2025, the net book value of our buildings and premises was $6.6 million and the net book value of the computer equipment and other furniture and fixtures, and equipment at our offices totaled $454,000. Our buildings, premises, and equipment are in good working order and are sufficient to meet our needs. For more information, see Note 6 and Note 9 in the notes to our audited consolidated financial statements beginning on page F -1 of this report.

Leased or · Original

The rest of Item 2

Location · Owned · Date Acquired

Corporate Headquarters

31 East Fourth Street

Branch Offices:

Chautauqua County branches

128 East Fourth Street

30 East Main Street

Fredonia, NY 14063 · Owned · 1996

1 Green Avenue, WE

Jamestown, NY 14701 · Owned/Leased(1) · 1996

106 East Main Street

Westfield, NY 14787 · Owned · 1998

Erie County branches

5751 Transit Road

East Amherst, NY 14051 · Owned · 2003

3111 Union Road

Orchard Park, NY 14127 · Owned · 2003

59 Main Street

Hamburg, NY 14075 · Leased(2) · 2005

3438 Delaware Avenue

Kenmore, NY 14217 · Owned · 2008

570 Dick Road

Depew, NY 14043 · Leased(3) · 2009

4950 Main Street

Snyder, NY 14226 · Owned · 2012

Administrative Offices:

125 East Fourth Street

123 East Fourth Street

115 East Fourth Street

Jamestown, NY 14701 · Owned · 1997

The building is owned. The land is leased. The lease expires in 2030, and has two, five-year extension terms that can be executed at our option.

The lease expires in 2028 and has two, five-year extension terms that can be executed at our option.

The lease expires in 2029.

Item 2 of the 10-K filed Mar 17, 2026.3

Leadership

Who has led Lake Shore Bancorp, Inc. /MD/, and when. Pick a name to see everywhere that person has worked.

Chief financial officer

  1. Taylor Gilden2025–now
Board members and other officers (8)

Timeline

  1. Jul 24, 20268-K Other events16
  2. Jul 22, 20268-K Results of operations17
  3. May 20, 20268-K Regulation FD disclosure18
  4. May 20, 20268-K Shareholder vote19
  5. Apr 24, 20268-K Other events20
  6. Apr 22, 20268-K Results of operations21
  7. Mar 18, 20268-K Entered a material agreement; Executive or director change; Bylaws or fiscal year changed22
  8. Jan 23, 20268-K Other events23
  9. Jan 21, 20268-K Results of operations24
  10. Oct 24, 20258-K Other events25
  11. Oct 23, 20258-K Other events26
  12. Oct 22, 20258-K Results of operations27

Calendar

Coming up

  1. Oct 28, 2026Reports results for the quarter ending Sep/202628

When it reported results

  1. Jul 22, 2026Reported quarterly or annual results17
  2. Apr 22, 2026Reported quarterly or annual results21
  3. Jan 21, 2026Reported quarterly or annual results24
  4. Oct 22, 2025Reported quarterly or annual results27
  5. Jul 23, 2025Reported quarterly or annual results29

Upcoming dates from Nasdaq's calendar; past results from the company's 8-K filings (Item 2.02). The full markets calendar

Filings

84 filings to the SEC since October 2021: 1 annual reports, 4 quarterly reports, 20 major events, 38 insider forms, 6 large holders, 15 other. The latest 20:

  1. Sep 9, 20264 EDGAR
  2. Aug 25, 20264 EDGAR
  3. Aug 11, 202610-Q EDGAR
  4. Jul 24, 20268-K EDGAR
  5. Jul 22, 20268-K EDGAR
  6. Jun 4, 20264 EDGAR
  7. May 20, 20268-K EDGAR
  8. May 20, 20268-K EDGAR
  9. May 18, 2026SCHEDULE 13G EDGAR
  10. May 12, 202610-Q EDGAR
  11. Apr 24, 20264 EDGAR
  12. Apr 24, 20264 EDGAR
  13. Apr 24, 20268-K EDGAR
  14. Apr 22, 20268-K EDGAR
  15. Apr 7, 2026DEF 14A EDGAR
  16. Apr 7, 2026ARS EDGAR
  17. Mar 24, 20263 EDGAR
  18. Mar 20, 20264 EDGAR
  19. Mar 20, 20264 EDGAR
  20. Mar 20, 20264 EDGAR

The 84 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Major holders

Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.

Executive pay

What the company paid its top executives, from the summary compensation table in its proxy statement. Total pay includes salary, bonus, stock and option awards and other pay, as the company valued them.

YearExecutiveAgeSalaryTotal pay
2025Kim C. Liddell65$605.0K$1.2M33
2025Jeffrey M. Werdein59$290.3K$512.6K33
2025Taylor M. Gilden35$278.3K$444.1K33
2024President and Chief Executive Officer$560.6K$1.1M33
2024Executive Vice PresidentCommercial Division$284.8K$454.2K33
2024Chief Financial Officer and Treasurer$262.6K$433.7K33

Held by these funds

The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026, the top 25 of 31. Change is in shares since the quarter before.

FundSharesValueShare of the fundChange
Stilwell Value LLC773,675$13.8M7.9%No change
Alliancebernstein L.P.505,971$7.7M0.0%+57,012
Oppenheimer & Close, LLC180,000$3.2M2.0%No change
Mangrove Partners Im, LLC150,585$2.7M0.2%No change
HBK Sorce Advisory LLC85,173$1.5M0.0%−2,905
Graham Capital Wealth Management, LLC74,543$1.3M1.0%−647
Peapod Lane Capital LLC70,039$1.2M0.8%+1,096
Renaissance Technologies LLC65,641$1.2M0.0%−3,400
Dimensional Fund Advisors LP47,933$853.1K0.0%+2,224
Minerva Advisors LLC44,259$788.3K0.5%No change
Morgan Stanley30,133$536.7K0.0%+228
BlackRock, Inc.29,505$525.5K0.0%+18,962
Vanguard Capital Management LLC27,442$488.7K0.0%+3,249
Geode Capital Management, LLC26,729$476.2K0.0%+8,793
Courier Capital LLC25,694$457.6K0.0%+9
First Manhattan Co. Llc.25,075$446.6K0.0%No change
Sandhill Capital Partners LLC18,218$324.5K0.0%+102
Round Hill Asset Management15,715$279.9K0.2%No change
Cerity Partners LLC15,335$273.1K0.0%No change
Bridgeway Capital Management, LLC12,568$223.8K0.0%No change
Vanguard Fiduciary Trust Co11,486$204.6K0.0%+82
Marquette Asset Management, LLC9,652$171.9K0.0%New
UBS Group AG4,908$87.4K0.0%+4,797
Royal Bank Of Canada4,258$76.0K0.0%+87
Farther Finance Advisors, LLC1,354$24.1K0.0%No change

13F reports cover disclosed long positions in U.S. stocks only.

SEC filer profile

How Lake Shore Bancorp, Inc. /MD/ is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.

  • Name on EDGARLake Shore Bancorp, Inc. /MD/1
  • CIK0002059653
  • Employer ID (EIN)39-30584243
  • Filer statusNon-accelerated filer not an emerging growth company; a smaller reporting company; not a shell company3
  • Incorporated inMaryland3
  • Fiscal year endsDecember 311
  • Industry code (SIC)6035 Savings Institution, Federally Chartered1
  • SEC reviewing officeOffice of Finance, Division of Corporation Finance1
  • Business address31 East Fourth Street, Dunkirk, NY 140481
  • Phone71636640701
  • Shares outstanding7,853,788 as of Aug 6, 20266
  • Public float$27.8M as of Jun 30, 20253
  • AuditorYount, Hyde & Barbour, P.C., Winchester, Virginia PCAOB ID 613; no auditor attestation of internal control over financial reporting3
  • On EDGAR sinceMar 14, 20251
  • Filings84 in all: 4 (25), 8-K (20), 3 (11), 10-Q (4), CORRESP (3), SCHEDULE 13D/A (3), 424B3 (2), S-1/A (2)1
    All 21 form types

    SCHEDULE 13G (2), 10-K (1), 4/A (1), 5 (1), 8-A12B (1), ARS (1), DEF 14A (1), DFAN14A (1), EFFECT (1), S-1 (1), S-8 (1), SCHEDULE 13D (1), UPLOAD (1)

  • Latest filingsAnnual report (10-K) Mar 17, 2026
    Quarterly report (10-Q) Aug 11, 2026
    Proxy statement (DEF 14A) Apr 7, 2026
    Latest 8-K (8-K) Jul 24, 2026

Securities registered for trading

ClassSymbolExchange
Common stock, par value $0.01 per shareLSBKThe Nasdaq Stock Market LLC

From the cover page of the 10-K filed Mar 17, 2026 (Section 12(b) of the Exchange Act).3

Risk factors and legal proceedings

The risks Lake Shore Bancorp, Inc. /MD/ names in Item 1A of its 10-K filed Mar 17, 2026: 36 risks under these headings, as written.3

  • Risks Related to Lending Activities
  • We have a substantial amount of commercial real estate and commercial business loans, and we intend to continue to increase our originations of these types of loans. These loans involve credit risks that could adversely affect our financial condition and results of operations.
  • We have a significant number of loans secured by real estate and a downturn in the local real estate market could negatively impact our profitability.
  • Our non-residential, non-owner-occupied real estate loans may expose us to increased credit risk.
  • Our historical emphasis on residential mortgage loans exposes us to lending risks.
  • Deteriorating credit quality could adversely affect our earnings.
  • We have extended off-balance sheet commitments to borrowers which expose us to credit and interest rate risk.
  • Risks Related To Our Business
  • Low demand for real estate loans may lower our profitability.
  • We depend on our executive officers and key personnel to implement our business strategy and could be harmed by the loss of their services.
  • The results of our operations may be adversely affected by environmental conditions.
  • Our business strategy includes growth, and our financial condition and results of operations could be negatively affected if we fail to grow or fail to manage our growth effectively. Growing our operations could also cause our expenses to increase faster than our revenues.
The other 26 risks
  • Acquisitions may disrupt our business and dilute stockholder value.
  • Competition in our primary market area may reduce our ability to attract and retain deposits and originate loans.
  • Our asset size may make it more difficult for us to compete.
  • Risks Related to Interest Rates and Liquidity
  • Changes in interest rates could adversely affect our results of operations and financial condition.
  • We are subject to certain risks with respect to liquidity.
  • Risks Related to Economic Conditions
  • High inflation levels could adversely impact our business and results of operations.
  • Changes in the Federal Reserve Board’s monetary or fiscal policies could adversely affect our results of operations and financial condition.
  • Risks Related to Operations
  • We face significant operational risks because of our reliance on technology. Our information technology systems may be subject to failure, interruption or security breaches.
  • We rely on third party vendors, which could expose us to and have exposed us to additional cybersecurity risks.
  • We continually encounter technological change.
  • We may be subject to risks and losses resulting from fraudulent activities that could adversely impact our financial performance and results of operations.
  • Risks Related To Laws and Regulations
  • Changes in laws and regulations and the cost of regulatory compliance with new laws and regulations may adversely affect our operations and/or increase our costs of operations.
  • Non-compliance with the USA PATRIOT Act, Bank Secrecy Act and related regulations may subject us to fines or sanctions.
  • We are subject to the Community Reinvestment Act (“CRA”) and fair lending laws, and failure to comply with these laws could lead to material penalties.
  • We may be required to raise additional capital in the future, but that capital may not be available when it is needed, or it may only be available on unacceptable terms, which could adversely affect our financial condition and results of operations.
  • The Federal Reserve Board may require us to commit capital resources to support Lake Shore Bank, and we may not have sufficient access to such capital resources.
  • We qualify as a smaller reporting company, and any decision on our part to comply only with certain reduced reporting and disclosure requirements applicable to smaller reporting companies could make our common stock less attractive to investors.
  • Other Risks Related to Our Business
  • We are a community bank and our ability to maintain our reputation, which is critical to the success of our business, may materially adversely affect our performance.
  • Legal and regulatory proceedings and related matters could adversely affect us.
  • Severe weather, acts of terrorism, geopolitical and other external events could impact our ability to conduct business.
  • We may be subject to shareholder activism, which could adversely affect our business.
  • Risks Related to Investment in the Company’s Stock
  • We expect that our return on equity will be low compared to other financial institutions as a result of our high level of capital.
  • If we fail to maintain an effective system of internal control over financial reporting, we may not be able to accurately report our financial results or prevent fraud, and, as a result, stockholders and depositors could lose confidence in our financial reporting, which could adversely affect our business, the trading price of our stock and our ability to attract additional deposits.
  • Various factors may make takeover attempts more difficult to achieve.
  • Lake Shore Bancorp may not pay or may reduce the dividends paid on shares of its common stock, and its ability to pay dividends is subject to certain restrictions.
  • Our stock price may be volatile due to limited trading volume.

Legal proceedings

At December 31, 2025, we were not involved in any pending legal proceedings other than routine legal proceedings occurring in the ordinary course of business. We believe that these routine legal proceedings, in the aggregate, are immaterial to our financial condition and results of operations.

The opening of Item 3, Legal Proceedings.3

Sources

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