Lake Shore Bancorp, Inc. Declares First Quarter 2024 Cash Dividend, Payable on May 10, 2024
April 26, 2024 at 10:24 am EDT
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On April 25, 2024, the Board of Directors of Lake Shore Bancorp, Inc. declared a cash dividend of $0.18 per share on its outstanding common stock. The dividend is expected to be paid on May 10, 2024 to stockholders of record as of May 6, 2024. The company announced that it received the written approval from the Federal Reserve Bank of Philadelphia to pay a cash dividend of $0.18 per share to its stockholders.
Lake Shore Bancorp, Inc. is the mid-tier holding company of Lake Shore Savings Bank (the Bank), a federally chartered, community-oriented financial institution headquartered in Dunkirk, New York. The Bank has 11 full-service branch locations in Western New York, including five in Chautauqua County and six in Erie County. The Bank offers a range of retail and commercial lending and deposit services. The Bankâs principal business consists of attracting retail deposits from the general public in the areas surrounding its branch offices and investing those deposits, together with funds generated from operations, primarily in commercial real estate loans, one-to four-family residential mortgage loans, home equity lines of credit and, to a lesser extent, commercial business loans, consumer loans, and investment securities. Its primary sources of funds for lending and investments are deposits, borrowings, brokered deposits, receipts of principal and interest payments on loans and securities.